Link: Seven Questionable Things I Hear from Traders

Nov 29, 2007: 7:59 PM CST

Dr. Steenbarger at the TraderFeed blogspot recently posted his observations on “Questionable Things I Hear from Traders,” and he detailed each of these concepts.

I wanted to highlight his entry, and call attention to a few of the points and make you potentially self-aware in your own trading experiences.

He advises against perfectionism, something with which I struggle in my own trading, and notes that it doesn’t take ‘clairvoyance’ to be a successful trader.

He recommends that you trade passion for concrete goals and hard work – positive thinking cannot make you a successful trader, but diligent work can increase your chances.

He then addresses some hard truths about trading, and concludes by asking you to take a hard look if you ‘quit your job to trade full time.’ While it can be done, it’s superior to have a track record prior to leaving the arena of steady paychecks for uncertain outcomes (one of the hardest realities I had to address in the beginning).

“…trading is a craft. It’s something you hone over time. It’s not a place to act out one’s wildest fantasies or basest fears.”

Study these seven ‘common sayings’ and see if you find yourself uttering any of them on a consistent basis, and if so, see why doing so may be inhibiting your results as a trader.

Comments Off on Link: Seven Questionable Things I Hear from Traders

Comments are closed.