The desire to be perfect markets can cost you a lot of money. This is because perfectionists can not take your losses and a small loss, it easily translates into – large, rejecting the possibility of errors.
Also, traders are trying to make profits too early.
The biggest fear and circumstance perfectionists must overcome the fear of failure. If you perfektsionistichesko consciousness when trading is doomed to failure because it is certain that it will have to take losses along the way.
Think of trading rooms for game of probabilities.
You can not be a perfectionist and you are a good trader. You lose that hope to return to the starting position will kill you. If you can not take a loss while small, because of the need to be perfect, then the smallest loss can grow into bigger.
You need to be successful over a long period of time rather than to compare each transaction separately. In trade even – good tolerate its portion of the losses, but managed to maintain these small errors whilst extracting the most out of your best ideas.
To change long established their behavioral habits and personal characteristics may need to use the support and services of a qualified professional. Long established habits, beliefs and habits never change overnight, but the perception of the problem is the first step.
Here are some steps on how you do not try to be a perfectionist in trading rooms:
Begin to evaluate the process and outcome – put on realistic goals.
Understand that you are valuable independent of whether you win or lose in any given day.
Focus less on performance and more on the pleasure it can bring surprisingly good results.
Do not be too critical of their mistakes, just learn from them.
Set a goal and make her process-oriented
Forget about the final result. If success through this purpose to improve trade, you win regardless of the outcome. Perfectionists often seek to control uncontrollable events Trade (waiting to be zero risk and everything to look perfect, hoping or waiting for – a good deal out of doubling the size of the losers and many others)
Based on these perfectionist tendencies often experts recommend the following strategy for entrance. Sign in with half position as soon as possible, when you see an opportunity that offers at least one to three risk against return, and then put the other half of the desired level of “perfect” price.
To exit the best use limit orders.
Here’s an example of how this strategy works. Buy half a position worth $ 10,000 at the time the notice appropriate signal. If the price went down to your stop, sell and take your loss.
Otherwise, if stock prices move on the rise compared to the original point of purchase, you may consider to add to the initial position. Adding new $ 3,000 to the designated amount of $ 10,000.
If a stock move further few percentage points higher, you can finish the last position adding $ 2,000 thus averaging to best trends and trade in those not worked. We want to add money only if previous purchases are successful.