Successful traders realise that they are not in control of the market (uncertainty), they view the market as a force of nature without an agenda. The only thing they can control is their own actions, activities, behaviours and emotions. The top traders know they are not infallible. All humans have biases and limits to cognitive abilities, anyone is capable of being swayed or easily distracted, everyone’s personality is different and brings different influences to bear on their decision-making. However, successful traders work around these factors, they accept that losing is part of winning, and they know their job is to make money, not to be right. It is another of the paradoxes of trading: Successful traders can lose money, get markets wrong, but still consistently come out on top. Failing traders can have wins, get markets right, and still consistently under-perform.
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