The stock market will get the best of every trader at some point. That is just a fact right? Well…I don't believe it is and I'll tell you why.
In my experience, the difference between successful and non-successful traders is self-awareness, not market favoritism. The stock market isn't a “thing” that pursues personal vendettas…it's simply a stream of data. And in fact, the only thing that gives meaning to this stream of data is our background knowledge of it, and our own interpretations and experiences with it. Making the best and most consistent use of this knowledge and experience, requires an understanding of our own personal data stream first—that is, knowing who we are, what our tendencies are, our strengths, weaknesses, beliefs, and perspectives.
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I am often asked, what went wrong? Why did "this" or "that" trade go against me?
Why is this market so horrible for trading? Why does the market hate me? I respond
with a question of my own: "Can you explain to me your thinking for entering the
trade...let's start there?" Usually I am met with a response that involves a nod
to a particular newsletter or the hint of a stock guru and a hot trade of the week
etc. Not surprisingly, this response attempts to explain someone else's thinking
behind a trade more so than the individual's thinking--and also not surprisingly, this
type of trader typically comes to express at some point, that the market is out to get
them. But don't get me wrong, a feeling that the "market is out to get you" is not
limited to get-rich-quick hopefuls...it strikes traders with far more experience as well.
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