Better ideas make you better trader | stockbee


Better ideas make you better trader

Good traders are innovator. They find better ways to do things. They are creative. They look at same setup or market situation in different manner and design strategies to extract profit.

Creativity is required to reduce drawdowns or to judiciously use margin to enhance returns. Creativity is also involved in designing entry or exit strategies. If you study successful traders they have innovated in these areas. They do not follow  most commonly talked about techniques or indicators.

There is too much talk in trading communities about discipline and psychology , but not enough focus on creativity in trading. If you are not creative and innovative as a trader it is unlikely you will last much longer even if you focus a lot on discipline or psychology.

Good traders look for good ideas. They are constantly innovating around setups or entry, exit, risk or any other parameter. They always have new and fresh ideas. They hunt for new ideas and try and incorporate them in their trading.

If you want to improve your trading start generating and collecting new ideas. Fresh ideas will give you fresh perspective and fresh ways to make money. 

No comments: