Saturday, August 27, 2016

A Powerful Formula for Our Development

Here is a great way to get better as a trader--and as a person:

Identify the times in the past week in which you were most sorely tested.  When did you face your greatest tests?  When in markets did you experience your greatest challenge?  When in your relationships?  What were the most difficult situations you faced?

Those are the situations in which life is giving you a test in order to teach you a lesson.  We learn from our challenges; we develop by tackling what is difficult and expanding our boundaries.

We gravitate to comfort.  It's not fun or easy to be challenged and pushed to our limits.  But that's where we'll grow.  

Certain market conditions are challenging for us.  Certain situations test our patience and tax our concentration and mood.  When you deliberately face testing situations, you are given many lessons.  That's not a bad format for a trading journal:  tracking the occasions in which you were tested, the lessons you learned from those, and how you will apply the lessons going forward.

Development depends upon discomfort; what taxes us potentially enriches us.

Further Reading:  Supercharging Your Trading Journal