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Becoming a Perfect Trader

As traders we have a strong need to want complete control over the outcome of a trade. We want to believe that if we analyze the markets long enough, we'll have perfect knowledge and we can trade to perfection. But such desire leads to wrong assumptions that can do us more harm than good. Assuming we must have control restricts our actions and reactions, and the result can be unnecessary stress. When we reach a point of extreme stress, we have a strong desire to avoid dealing with problems, rather than facing them head on. We are human and subject to human failings. We are unable to be completely competent.

Thinking you have to be perfect produces fear and anxiety, which for traders often produces hesitation and self-doubt. Hesitation and self-doubt are the exact opposite of the character virtues you need to become a successful trader.

 

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Comments 1

Jean1975 on Thursday, 26 May 2016 07:53

In trading you can only control yourself and the risk amount which you a willing to take.
Outcome cannot be controlled.
Better to be an imperfect trader but profitable

In trading you can only control yourself and the risk amount which you a willing to take. Outcome cannot be controlled. Better to be an imperfect trader but profitable :)
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Sunday, 17 December 2017

Derivative transactions, including futures, are complex and carry a high degree of risk. They are intended for sophisticated investors and are not suitable for everyone. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results, and all of which can adversely affect actual trading results. For more information, see the Risk Disclosure Statement for Futures and Options.