Devoting 100% of your efforts into trading is absolutely necessary, is that perfectionism? Seeking a perfect trading system, is that perfectionism? The former is good, the latter is impossible. Still, I want to make sure that my system is as close to perfect as possible. I have changed my rules over 200 times, anyone had the same experience?
"Perfectionism, in psychology, is a belief that perfection can and should be attained. In its pathological form, it is a belief that anything less than perfect is unacceptable. At pathological levels, this is considered an unhealthy belief. "Hewitt and Flett (1991) devised the Perfectionistic Self-Presentation Scale (PSPS) which rates three aspects of perfectionistic self-presentation: 1: advertising one's own perfection, 2: avoiding situations in which one might appear to be imperfect 3: failing to disclose situations in which one has been imperfect." http://en.wikipedia.org/wiki/Perfectionism_(psychology) 2 sounds like not exiting a losing trade, and 3 sounds like rogue trader behaviour 2 & 3 seem to go together don't they, losses I associate anorexia nervosa with perfectionism, or is that not being perfect, also criticism - - external negative criticism by a controller http://en.wikipedia.org/wiki/Anorexia_nervosa
Perfectionist like Doctors and dentists and other scientists type? 100% Agree 1)Can't a take a loss 2) Always think they're right. 3) will fight to the death to prove that they are right....which they rarely/never are. 4) it's indigenous for them if they work enough that the answer will arrive. But before that happens....they go broke!!!!!!
Seeking perfectionism...hmm....I think this thread is a little confusing. Changing your rules, system, time frame etc.,. is necessary just to survive forget about perfect!!! If you are losing money you are far from perfect, but you may be an adjustment away from being good. The lion is the king of the jungle, because he is best at surviving, not being perfect. Traders that lose money aren't losing money because they are trying to be perfect. They are losing money because they are not adapting to there environment and they are not strong enough.
Question 1. Yes, its only logical Question 2. No, its Illogical. Actually, its the exact opposite. perfectionist know exactly when to 1. enter trade 2. hold or reverse postion 3. add or subtract to position 4. exit trade
When dealing with psychological matters it's always best to get to the center of what's going on within your own mind. I think some of that was covered here. This thread made me think of this video. The doctor doesn't seem to understand the importance of discussing matters fully to reach a deeper understanding of the individual. ( The video is a joke and may be offense to some, so watching is not at all necessary. ) http://www.youtube.com/watch?v=BYLMTvxOaeE âThey say that nobody is perfect. Then they tell you practice makes perfect. I wish they'd make up their minds.â -Winston Churchill -Stephen
the problem like a lot of other psychological illnesses is does the individual realize their illness it's one thing to strive for 100 % profitability it's something else if the person is driven to perfection without realizing the cause of how they function
"... Then they tell you practice makes perfect ..." ****************** Perfect practice makes perfect! Joe