Frustrated Traders…

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Here is the whole blog post as it was written:
Traders get frustrated and quite often it is because they are overly focused on results.

When you are learning or practicing ANY skill, it is critical to focus on process.

For example, I’m learning to play a game called Pickleball. I’ve been playing about a year and I want to win, of course. Naturally, as a competitive person, I’m a bit frustrated at my progress but the reality is that the other players have been playing longer and more often than I have, and as a result, are more skilled. They have put in the time doing the right things.

But I want to win, so the natural instinct, in this case, would be to search for or copy some fancy trick that would just “get me through the game” as a winner.

And that might even work from time to time against less skilled or equal players, but the reality is that this behavior of searching for the next best thing is ultimately going to hurt my game and cap my progress at an amateur level. This means that I may win a few games now but as a result, other less experienced players who are doing the “right” things will quickly surpass me in skills. This will ultimately lead to me falling behind in my progress and lead to frustration, even if it makes me “feel” better from winning a few games now.

This is because, to truly be a great player, I need to be focusing on process. I need to realize that professionals are those who have gotten exceptionally skilled at the fundamentals of the game and if I ever want to play at their level, I need to forget about winning, forget about the distractions of the next new “trick” and practice the proper form and process when playing.

My objective is getting into the habit of doing the right things, even if it means losing the game. I need to realize that focusing on the short-term pleasure of the win is detrimental to my long-term success and choose to focus on what is best for me long term. This is what will bring me greatness.

If you are at a high frustration point, I suggest getting back to the basics and trade something simple such as the Bull trade or a UB1 trade. Trade small, follow the process and act as an observer.  Practice the basics. Realize you will lose from time to time. It is a necessary part of the game. Treat the results as feedback and find them interesting. Learn from them. Master the basics and the right habits and then gradually introduce new things into your process to improve. Do this and you will become a “REAL” winner at the game of trading.

Trade well,  John Locke