Trader Lesson: Compare Yourself To Others (So You Can Succeed As A Forex Trader)
Trader Lesson Compare Yourself To Others (So You Can Succeed As A Forex Trader)
In this Montreal Forex trading vlog, I share a lesson on what perspective you should have when you compare yourself to other traders. If you want to succeed as a Forex trader, you must not look up to others and feel disappointed. Vlog #184.
The main message of this video? Have a “how can I be better?” mindset, even when comparing yourself to you.
Is Comparing Yourself To Others Or Yourself Good To Succeed As A Forex Trader?
By comparing yourself to others, you are following into the trap of looking at people who've achieved more than you did. This can be bringing you down (especially when you compare your stats to those of other traders),
On the opposite side, some people say “only compare yourself to you and the person you were yesterday”. This is tricky since you'll have days where you underperform and do not execute up to your standards.
The solution, in my experience, is to look at the results of your performance and use the “how can I make this better?” mindset. When things don't go well, you'll be action-focused and that is a great state to be in.
I'll be the first to say that comparing yourself to other traders can be useful if you want to succeed as a Forex trader. But ensure that you use this comparison as a motivation to work harder.
Remember that the traders who see the most success over the long-term are the ones who spend time working on their trading.
If you are aspiring to trade for other people while traveling, you might want to consider checking out the Desire To TRADE Academy where I’ll help you do precisely that!