AT THE CLOSE
In trading, the gap between performance and consistent profitability persists. What is the hard-working, aspiring trader missing in his or her quest to become successful?
Even after years of study and dedication, most traders find consistent profitability elusive. They see others who are using similar trading systems and methods who are successful, so they know it is possible. They assume that it is just a matter of finding the problem and fixing it. Born of a strong work ethic and their focus on solving this problem, traders work harder, jump to new methodologies, new systems, new trading gurus, new markets, or the next big thing that promises success.
Emotional regulation skills allow a trader to develop the capacity to manage the intensity of emotions so it does not hijack the trading mind.Still, the gap between performance and consistent profitability persists. Although they may be committed to succeeding, what is the aspiring trader missing?
Being blind to what you are blind to
The trader’s problem is hidden in plain sight, but his myopic vision does not allow him to see the forest because of the trees. Traders have an unspoken assumption that a solution to their trading performance problems is out there. And when they find it, they will find the success they have been searching for. This bias blinds the trader from evaluating the problem from another point of view.
The truth is that there is a glaring hole in the way traders develop their skills, embedded in how a trader learns to trade — a hole that blocks most traders from breaking through to consistent profitability.