Tuesday, May 26, 2009

Making the Most of Your Trading Weaknesses

Thanks to the Wall St. Cheat Sheet site for posting personal anecdotes based upon the lessons in the new Daily Trading Coach book.

Here is their take of Lesson Three, which involves making friends with one's weaknesses.

If you are going to coach yourself for success, you have to embrace your shortcomings and view them--not as threats--but as opportunities for growth.

If you are threatened by your weaknesses, you'll tend to avoid thinking about them. That's a great way to ensure a lack of professional development.

If, however, you look at each weakness as a personal challenge to overcome and an opportunity to become more than you are, you will sustain the optimism and motivation to extend your learning curve.
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4 comments:

deven said...

dr brett,

it is most important that individuals value their weaknesses and strengths properly since everyone tends to overvalue strengths and undervalue weaknesses. when one understands they are not as good as they think than the acceptance of weaknesses becomes easier.

Vic said...

Brett,

Thanks for that post. I have been contemplating trying that method but wasn't sure it was something the good traders use when buying.
The "hesitation" part is a problem of mine, fighting the keyboard to enter the trade to get my price. Especially when you have to chase the price abit,it can create some unneeded anxiety and easily distract you.

Julian said...

That's great timing. I just got the book so will be keen to follow along with their insights on it.
I'm only three lessons in but the very first lesson hit the nail on the head for me. I've been telling myself for months the things I want to do in trading but simply never do them. That first lesson was a wake up slap in the face.
Some insights are so obvious, but it's not until you hear them from someone else that it means anything.
Thanks Dr. Brett. Great stuff.
Julian.

adan said...

love this post!