Perfectionism And Trading

by Olivier on January 24, 2011

Excellent quote on perfectionism and how it relates to trading from Tyler Bollhorn of www.stockscores.com:

Perfectionism: Many traders try very hard to always be right. If the market shows that they are wrong with a loss, they work very hard to turn that loss into a profit. They may average down on a losing position or just hold the stock after their stop price has been exceeded with the hope that the market will turn around and turn their loser into a winner. It is the pursuit of perfectionism that causes us to ignore that trading stocks is a matter of probability. Trying to always be right leads to failure, for eventually, one of those losers fails to turn around and gives the trader a portfolio crushing loss.

When you aim for perfection, you discover it’s a moving target. – Geoffrey F. Fisher

My public list with all my charts can be viewed here:
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2791469

Buenas noches!

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