BarroMetrics Views; Plans That Suit II
I think this blog is the glue that holds the jig-saw together.
In Singapore and Hong Kong, the Performance Paradigm is:
Performance = Capacity + Knowledge
It follows therefore that the more knowledge we have, the better will be our performance. But this idea is flawed. Success depends on what we know AND how we do what we know. The missing element in the paradigm is the ‘doing what we know’ = the application (i.e. taking action on what we know).
In trading, we go to a course, take in new information and then fail to change our behaviour. The reason for this is we are unwilling to move outside our comfort zone. Hence Paul’s comment that his friend ‘must trade with indicators’ – with an implication that she has never tried to do anything different.
One trait that successful traders have is the unwillingness to try something new in all its entirety. We try first and then say, this is ‘not for me’, rather then sit, listen and say: ‘not for me’. That approach merely ensures that we keep on getting what we have always gotten, simply because we keep doing what we have always done.
The message of this blog then is this: if your trading is not attaining the results you want, then you need to change your behaviour. This means moving outside your comfort until you find an approach that ‘feels it fits’. Then you study, apply the material and, see if the results obtained take you closer to your goals.