Thursday, February 9, 2023

"Routine is necessary for efficiency; breaking routine is necessary for adaptation, if you want to improve your trading psychology".



"Innovation distinguishes between a leader and a follower." - Steve Jobs

This quote highlights the importance of breaking routine and adapting to new ideas and practices in order to stay ahead and improve. The same concept applies to trading psychology - by continuously learning, seeking new perspectives, and breaking routine, traders can stay ahead of the competition and improve their performance.

In trading and investing, both routine and deviation from routine play important roles in shaping a trader's psychology and performance.

  1. Routine: A consistent routine can help traders be more efficient, organized, and focused in their approach to the markets. It can also help to reduce stress and increase discipline, allowing traders to stick to their investment strategy and make informed decisions.
  2. Breaking routine: Breaking routine is important for adaptation and growth. By stepping outside of their comfort zone and trying new things, traders can gain new perspectives, challenge their existing beliefs and biases, and develop new skills.

To improve their trading psychology, traders should strive for a balance between routine and deviation from routine.

  1. Establish a consistent routine for daily tasks and decision-making processes, but also set aside time for learning and exploration.
  2. Seek out new information and perspectives, such as attending trading workshops or conferences, reading books by different authors, or seeking feedback from others.
  3. Regularly evaluate their trading performance and look for areas of improvement. This can involve seeking feedback from others or examining their trading journal to identify patterns in their behavior.

By balancing routine with deviation from routine, traders can develop a more efficient and adaptive approach to the markets, leading to improved results and a more positive trading experience.

It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change. -Charles Darwin

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