In fact, frustration is a good way to learn. I was paying very close attention to an interview with a professional athlete. He was talking about playing one of the best teams in their league. Instead of being scared of playing such a strong team, the team said to themselves, “We can do this.”
“These games are the ones you really want. They make you take tests to see what you’re good at and what you need to work on.
If there’s one way of thinking or quality I’d like every trader to have, it’s what the athlete said. They were excited about the challenge they were about to face.
They weren’t as worried about making mistakes or not being able to deal with the stronger team.
If they couldn’t, it meant they needed to work on some things.
Frustration is a good way to learn.
New traders need to adopt this way of thinking. Losses happen. You get angry sometimes. This is how the market acts. This could last for a few hours, a few days, a few weeks, or even a few months.
How you handle each trade is more important than you might have thought.
If you’re a trader and you’re going through a frustrating time or just went through one, you have to let that “feeling” of frustration be temporary. It’s normal to feel stressed out when you’re trading, but it’s not helpful to stay stressed out for a long time and define yourself by how upset you are.
Frustration should make you want to learn, not be afraid.
A better way to look at losses, mistakes, and frustrations is as opportunities to learn. You should be ready for and deal with the challenges that come with the markets.
If you look at every trade as a chance to learn, you’ll be able to see the bigger picture and feel more confident in your trading.
Chances to find out
- Every trade and time spent looking at the charts is a chance to learn.
- Do you really trade like a sniper, or do you just sit around and wait for the right situation? Do you trade because you want to be right or because you want to get better? Do you try to speed up your learning, or do you let your feelings determine what you learn?
- Frustration must lead to learning, just like all other trades do. You can win, lose, or learn from each trade. You couldn’t fully control whether you won or lost, but you could control what you learned. Which do you think is most important to your growth as a trader?
- The best athletes, professionals, and traders learn from their mistakes and make the most of every opportunity to do so. This is part of building a successful mindset, which is important and necessary for trading success.
- Think about how your trading experience and your way of thinking are different. Do you look forward to the hard times and the times when you learn something? How do these experiences change the way you think and act on the markets every day?
- Have you figured out which of the tips above you need to work on?
And after reading this, what do you think about yourself?
“If you don't find a way to make money while you sleep, you will work until you die.”
- Warren Buffett
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