Day Trading Tips and Tricks

November 30, 2018

Erich Senft

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Improve Your Trading Personality by Overcoming Stubbornness

A Trading Personality Focused on Pig-Headedness has No Place in Trading

Day Trading PersonalityWhen it comes to improving your day trading results, learning to recognize and overcome your stubbornness can make you a better trader. The single biggest part of ever becoming successful at day trading is developing the right trading personality. Although we are all human and are often influenced by our particular characteristics and developed emotions, professional day traders have learned to use specific tools to overcome reactionary emotions that serve as counterproductive behaviors in your trading plan. Without a doubt, stubbornness is a trading personality trait that can quickly drain the funds from even the most successful day trader.

Correlating a Stubborn Trading Personality to Day Trading

Stubbornness can be an ugly emotion. Displaying this trait often creates a scenario that produces negative consequences. To be successful, day trading requires decisive action, based on specific scenarios that often need to be performed without hesitation. Creating profits in your job requires the need to be flexible and disciplined enough to handle the emotions that will arise when you realize your day trading decision was incorrect. Flexibility and decisiveness work as the ideal combination of positive traits for a strong trading personality.  You can learn your trading personality traits here.

Overcoming Your Stubbornness When Day Trading

The best futures day trading system and the best technical indicators cannot overcome a stubborn trading personality. Inflexibility is the quickest way to make bad decisions that result in massive losses that directly impact your trading results. If you are like most stubborn individuals, you are probably challenged in recognizing you even have an issue.

The degree of your stubbornness in your trading personality is most likely reflected in your day trading results. You might refuse to use stop losses and targets or simply cannot be bothered following a day trading system because you have a better idea intuitively of how the market will go. Such stubbornness will cause you to hold onto your trades longer than you planned until the pain is too much to bear.  Only then will you exit the position and take a much larger loss that could have been avoided.

Recognizing the Issue in Your Day Trading Personality

The easiest way to avoid these costly mistakes is to understand your trading personality, and that stubbornness is a natural human emotion. But, like all emotions, it can be managed. Taking responsibility for your stubbornness and working hard to overcome it will make you a better trader and produce significantly better trading results.

Until you get a handle on your trading personality and work to control it, it might be better to day trade in SIM and not use your hard-earned dollars. Once you have achieved the discipline necessary to overcome traits like stubbornness, you are most likely ready to begin live day trading again.

See how a strong trading personality performs in our Trade Room.  Click HERE to Register

November 30, 2018

Erich Senft

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