Mindset / Psychology

"If It Was That Simple, Everyone Would Do It"

2 Min Read

Sometimes I think people learning to trade are more sensitive than everyone else.The messages I see from a lot of traders make me laugh (sometimes to the point of tears) and then despair. Inevitably, these are always the ‘traders’ that are never actually going to make a penny from trading.Unlike you, they are not asking the right questions to start making money and are not looking in the right areas for results.[caption id="attachment_4283" align="aligncenter" width="1045"]

Silly questions like this pop up all over the place – why even bother? If it was that easy…

Silly questions like this pop up all over the place – why even bother? If it was that easy…[/caption]

Why it just doesn’t work for some people…

One of my favourite complaints/contradictions is to do with the simplicity of trading systems.Too many traders make their charts look as complicated as possible… Why do you think that is?When you break down the excuses for it, there are two key reasons that always come up:

  1. “It helps me feel more confident hiding behind thousands of indicators, because it masks the fact that I actually have no idea what’s going on in the market/what I’m doing.”
  2. “If my charts look complicated, it makes me look more intelligent to everyone around me, who will then think I’m a real trader – If they were too simple, anyone could do it.”

Both reasons are just a way of covering up for an inadequacy; like buying a Ferrari to make up for more *ahem* intimate shortfalls.But here’s the funny part about those traders.When you suggest to them that they can improve their trading by spending hours learning new tools that actually work, rather than their mediocre indicators, they complain: “that’s too much work, I’ll never learn that. I just need one method or one tactic that makes me money and I’ll be happy with that”.So they want complicated charts to look and feel great, but they don’t want to work to actually understand anything about trading?Fair enough.

We all want a quick fix…

Although we might not like to admit it, we all share an element of this mindset. We want the quick-fixes, the tactics and ‘hacks’, rather than understanding how and why they work. We just want to execute without ever having to devise the plan.Next week I’ll start discussing a concept that will help you trade sustainably in the future and continue to grow as a trader.That’s all for this week. Time to switch off, ready again for Monday.