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Thought of the Day – Thursday 21st October 2010

October 21, 2010

FX Trading, FXTrader Paul, Thought of the day, Trading Education, Trading Performance, Trading Psychology, Trading Resources

From an interview with Glen Ring for Real People; Real Traders

What is one of the biggest mistakes traders make?

They try to be too perfect.

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A professional Trader and Coach, FXTraderPaul blogs about his adventures from the front-lines of FX Trading. A Trader and educator who can walk the walk as opposed to merely talk the talk!

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2 Comments on “Thought of the Day – Thursday 21st October 2010”

  1. fxtraderchat Says:
    October 21, 2010 at 5:17 pm

    I have heard it said that “perfection” is the lowest standard.

    If I were to try to make all of my trades perfect, I would probably never enter a trade or end up losing money on trades by failing to be flexible with my trade management as a trade develops.

    Reply

    • FXTraderPaul Says:
      October 21, 2010 at 5:48 pm

      Wise words indeed. I knwo myself that I tend to veer towards wanting perfection which can help raise standards but can also be inhibiting when it comes to trading. We all crave certanity and sometimes we think waiting for the ‘perfect’ set-up will deliver the certainity (of profits & of being right) we crave. Alas, that is rarely the case!

      Reply

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