The Definition of Insanity!
How Auditing and Adapting Gets You Better Results
What is the Definition of Insanity?
According to Einstein, it’s doing the same thing over and over again expecting different results.
That’s a great sound bite, but as traders how do we balance dogged persistence with quitting at the first signs of struggle? Because surely, if we take Einstein at face value, we shouldn’t do anything that hasn’t worked before! One stop out and we don’t trade that setup again…
Not sensible. In trading, we have to take a larger sample size before we start meddling with things. There’s such a random element to the market, we need to let the edge play out over time.
But that’s not to say at some point we shouldn’t switch things up a little. If something hasn’t worked for a long time, perhaps “pushing through” isn’t the right answer.
Today, think about stepping back and objectively auditing your recent trading performance. Which aspects are just not working and what changes can you make to try something different?
It’s often the case that small course corrections can make a significant impact on your trading success. However, we often get so caught up in trying to push through obstacles that we forget to consider the possibility of sidestepping them. By staying open to new ideas and being willing to make adjustments, traders can avoid getting stuck in unproductive patterns and achieve greater success.
Get Smarter About Trading
Join 5,000+ traders who subscribe to our Traders Mastermind daily email. Designed to help you cultivate discipline, momentum and consistency in less than 3 minutes per day.
Trading Psychology and a Winning Mindset
Learn how to master trading psychology and adopt a winning mindset with world-renowned performance coach Steve Ward. In this video, Steve shares evidence-based practical strategies and techniques to help you develop the mental skills required to overcome the psychological challenges of trading. You’ll also discover common challenges that traders face and the importance of working on your trading psychology to maximize your market returns.