Saturday, September 12, 2015

The Big Mistake Traders Make

The big mistake traders make is labeling challenges as problems.  A challenge is a function of growth, pushing one's boundaries, becoming more than you presently are.  A problem is a shortcoming, a deficit, something to move past.

If you are never anxious, you are never pushing your boundaries.  Growth requires movement outside our comfort zones.  That brings uncertainty, nervousness, and doubt.  

The big mistake traders make is trying to eradicate uncertainty, nervousness, and doubt.  They want to trade with confidence and conviction.  They want to fearlessly pull the trigger.  So they stay in their comfort zones and they never grow and they never adapt to changing market conditions.

The trader who wants to develop embraces uncertainty, doubt, and fear.  Growth comes from mastering those, not erasing them.

The big mistake traders make is justifying stasis by calling it "sticking to a process", "controlling emotions", and "staying disciplined".  Every uncertainty is a challenge.  Every challenge is an opportunity for growth.  Mastering challenges means we continually evolve our processes and make growth our discipline.  

If you want to overcome a "problem", find the developmental challenge it brings to you.  Your problem is a gift.  Unwrap it.  Figure out how it will make you better.  Then tackle one small piece of the challenge and set yourself up for success.  Once you've gotten that under your belt, tackle the next piece, then the next.  Bryan was right: confidence comes from doing the things we fear, not from living a static life free of uncertainty.  

Further Reading:  Five Principles of Growth and Development