It’s OK to Be An Average Trader
If you would like to immensely improve your trading and investing results, check out http://www.Secrets2Trading.com.
AND you will receive a limited FREE copy of the amazing book “Trading In The Zone” which is packed with trading ideas to instantly improve your trading and investing performance.
If you look up the word “average” in the dictionary, here’s what you’ll find: “The usual or ordinary kind or quality.” Certainly, as a successful, aggressive, confident trader, you don’t want to be considered “average,” right? Especially when it comes to your money – you want to be perfect!
Yet, when you check out the meaning of that word “perfect,” you see: “Excellent in all respects; without defect or blemish.” Most new traders think everything will be just right. They’ll find all the necessary data and information, gather all the required tools, find just the right trade, and make bundles of money. When you put your money on the line, there is a strong need to seek out perfection.
“The desire to be perfect cost me plenty of money in the early days of my trading career. Why? Because a perfectionist cannot take a loss, so small losses can easily turn into bigger losses for the trader who is not able to admit being wrong. Plus the trader will try to book a profit too soon to feel like a winner. The objective in trading should be excellence, not perfection. There’s a tremendous need in all of us to “be right.” The problem is that being right and making money in the markets are often two different things.”
Trading is probably the worst thing to try to do if you’re a perfectionist. You’re constantly being told how “wrong” you are and asked “what’s your win rate?” Many traders spend the entire day waiting for the “ideal” market conditions. They compulsively look at so many indicators that they over complicate things. The entire analysis becomes a waste of time, and results in “analysis paralysis.” Another sign of perfectionism in trading is the need to be on a winning streak all the time. They’re not, and they feel something is wrong either with the system or with them.
“It’s natural for people to want to be perfect in a few things, say in their job – being a good editor or surgeon depends on not making mistakes,” said Gordon L. Flett, a psychology professor at York University and an author of many of studies on perfectionism. “It’s when it generalizes to other areas of life, home life, appearance, hobbies, that you begin to see real problems.”
You don’t have to be perfect or without defect or blemish – as a trader. Just have a solid trading plan and follow it. You won’t hit winners all the time, so don’t expect that you will. Sometimes you’ll be right, and other times you won’t. Winston Churchill once said, “They say that nobody is perfect. Then they tell you practice makes perfect. I wish they’d make up their minds.” As a trader, you should prefer the latter.
Service Availability: Most services reviewed by this websites are available in the United Kingdom. This includes the following cities and their surroundings: London, Birmingham, Leeds, Glasgow, Sheffield, Bradford, Edinburgh, Liverpool, Manchester, Bristol, Wakefield, Cardiff, Coventry, Nottingham, Leicester, Sunderland, Belfast, Newcastle upon Tyne, Brighton, Hull, Plymouth, Stoke-on-Trent, Wolverhampton, Derby, Swansea, Southampton, Salford, Aberdeen, Westminster, Portsmouth, Oxford, Newport, Norwich, Cambridge, Gloucester, Bath, Canterbury and others.