Realistic expectations are crucial to earning long-term success in trading. When our expectations from the market are well beyond what can actually be achieved from the market, we put ourselves in a situation where all we can do is lose.
Let me ask you this, have you ever had a very positive trading week, yet mentally you couldn’t get past that one loser that you took? Why? Why spend so much energy focusing on the single negative when the positives well outshined them?
The answer is because we strive to be perfect. Years ago, when I first started my trading journey I adapted what’s called the “Kaizen Philosophy” to my trading and eventually my life. I recommend google searching it for more details but essentially this philosophy means “continuous improvement” so always striving to get better each day even if it’s by the most minimal of amounts. And although we CAN and SHOULD try to improve each and every day it’s important to understand and ACCEPT that THERE IS NO SUCH THIS AS PERFECT! and therefore we shouldn’t judge ourselves on that type of scale.
It’s okay to be upset over a bad trade, or a bad decision. BUT PLEASE, also take some time to focus on the good trades and the good decisions that you made as well. If you don’t you’ll find yourself in a position where you’re fighting a battle that can never be won and that can take a hell of a toll on you mentally.
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