Are you constantly trying to improve your trading or at anything really? If you are, are you having success? If not, you might be going about it all wrong. I’ve watched many break-even traders for a long time and what I notice is that they are good at a few things. Unfortunately, those few things don’t always work so when they have a few great weeks when things are working, they tend to give it back because of their weaknesses.
I’ve heard stories about elite athletes. These are the guys we all admire, Michael Jordan, Mike Trout, Pete Alonso, and many more. They improve themselves by constantly working on their weaknesses, not by focusing on their strengths. For example, at the end of each season Mike Trout does a deep dive into his statistics to figure out his biggest weakness. He then spends the whole off season working on that weakness. He stays at it until that weakness is added to his many strengths. By turning that weakness into a strength, he improves his whole game.
In trading and life in general, everyone has behavior patterns that hold them back from reaching their goals, these are their biggest weaknesses. If you want to be a really great trader, you need to work to remove these patterns from your life. You can’t keep avoiding it, hoping it will fix itself, or keep trying to overwhelm it with your strengths.
Instead, do the opposite. Get a deep understanding of what causes these weaknesses in you and then find the solution that turns them into strengths. Do this and trading starts to look easy once you’re not carrying around all your worst habits anymore.
Do you need help working through your weakness? Then consider joining my coaching group “Live Trader’s Coaching Group” here at Live Traders. We can help you with all aspects of trading including trading plan development, sharpening technical analysis skills, patience, discipline or mindset and of course presence. One on One coaching is also available. Why struggle on your own when you can work with 30+ likeminded traders? More information can be found at the following link:
https://livetraders.com/groups/sales/2b144965-1248-4117-a8e0-be3f70c5725d
