In an interview with ETMarkets, Rangala, said: “The best traders all have habits and checklists. Many professionals meditate, exercise, and keep a journal, to keep the ego from getting in the way.” Edited excerpts:
An award-winning professor of writing and communication, market analyst, CMO, TEDx speaker, and health enthusiast – we would love to know your daily routine to stay mentally fit.
I get up at 4:32am most days and first thing, say 3 thank-yous. This puts my mind in a state of gratitude, which is a good basis for other kinds of thinking.
I use that quiet time to write, read something uplifting, pray, and run a daily mile. I’m far from perfect, but I try to do these things daily.
I was inspired by the Daily Mile programme in UK schools, which has resulted in better test scores, fewer discipline problems, and better mental health for children.
I go to the gym 6 days a week. I invested in a personal trainer, Afzal Rangrez of Gym Spirit. It helps a lot to have a good coach. He’s a top fitness model and trains actors, models, and one 54-year-old crypto guy.
I also try to check my net worth and spending every day. It doesn’t make you obsessed with money. On the contrary, it keeps you aware, so money can’t control you or your emotions as much.
I am a vegetarian and eat very little sugar. Reducing sugar can change your life. Plus, when I do want to have cake or ice cream, I eat all I want. I don’t have to say “Oh, just a tiny piece for me, please…”
You are a man with varied interests: a writer for The Wall Street Journal, Bloomberg Businessweek, and others. You’ve climbed Mt. Fuji and Mt. Kilimanjaro. You are also a black belt in Aikido, which is all about discipline. How does that help you in your daily life?
After college I spent three years in Japan teaching English and studying aikido, which is a way to end the conflict, not just destroy or defeat an opponent. It is nonviolence in action.
In a way, it’s another form of satyagraha. It influenced how I taught as a professor at the University of Florida and now it influences how I lead our organization.
I don’t like conflict, generally. But aikido helped me learn to use conflict to strengthen relationships. It helps to empathize and remember that the person attacking you never thinks that they’re the villain of the story.
Equity or crypto investors usually go through a lot of volatility. Do you think focusing on one small routine can help investors navigate through stress in a better way?
I learned trading in the futures markets, which can be very volatile. The best traders all have habits and checklists. Many professionals meditate, exercise, and keep a journal, to keep the ego from getting in the way.
Most people think you need to predict the market’s direction correctly to succeed. You don’t. The most profitable traders and investors are right about 40% of the time, maybe less.
The real key is keeping your losses small and maximizing your wins. To do that, you need to give up your ego’s need to be right and to feel smart. Putting aside the ego in that way is tricky. Habits help.
How important is mental fitness, especially in leadership roles? What are your key learnings?
You have to actively keep your daily habits going, especially the attitude of gratitude. As a leader, you can delegate a lot to people who are smarter than you are at various job functions.
But your ability to practice empathy and kindness, to motivate yourself and your team through the toughest times, and to make work fun: cultivating that ability can’t be delegated.
Only you can do it and if you neglect it, neither you nor your organization will reach their potential.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)