{"id":145939,"date":"2019-04-11T13:31:39","date_gmt":"2019-04-11T03:31:39","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/auarticles\/honest_trader\/"},"modified":"2021-04-15T08:52:03","modified_gmt":"2021-04-14T22:52:03","slug":"honest_trader","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/articles\/trading-strategies\/honest_trader\/","title":{"rendered":"Are You an Honest Trader? 5 Powerful Questions to Ask Yourself Now"},"content":{"rendered":"

\u201cThe least initial deviation from the truth is multiplied later a thousandfold<\/em>.\u201d\u00a0\u00a0<\/em>– Aristotle<\/strong><\/p>\n

We came across the above quote from the famous Greek philosopher and couldn\u2019t help thinking how relevant this is to trading, so thought it was worth a discussion to stimulate some self-reflection of your behaviour and thinking like a trader.<\/p>\n

The reality for most people is that:<\/strong>
\na. We are either not trained, or often not encouraged, to review ourselves with balance.
\nb. We invariably do not have the required tools to facilitate such a review.<\/p>\n

Both have massive relevance in a trading context and can be costly in dollar terms not only in individual trades but over a lifetime of trading.<\/p>\n

Humans generally tend to over-estimate knowledge and performance particularly if they have been doing something for a longer period. We become less accepting that we need to do some work on ourselves, perhaps have gaps in our education, or take personal responsibility for the results of our endeavours (in context look for someone or something to blame for dissatisfying trading results).<\/p>\n

At the risk of appearing over-critical, please don\u2019t take this as such rather an attempt to give you some food for thought to tighten up your trading game.
\nBeing completely honest about where you are now, even if there are gaps in what you are doing, is one of the most powerful exercises that can contribute to your development as a trader. It doesn\u2019t get more positive than that!<\/p>\n

\"\"Your FIVE key questions<\/strong><\/p>\n

So, taking this forward, here are some practical tips that may be beneficial. No matter how experienced you are now. Ask yourself:
\n1. Do I find myself blaming others\/the market for the results I am getting rather than \u201cowning\u201d my results (this is often the crucial first step in taking action\u2026bottom line\u2026you won\u2019t unless you take FULL responsibility)?
\n2. Have I worked hard enough to complete the education I have access to and can state with confidence that I know all content covered?
\n3. Do I have complete and comprehensive systems that guide and review my trading including a trading plan and journal\/review system?
\n4. Have I tested the components of my trading plan against alternatives to make sure that I am making evidence-based decisions for all trading actions?
\n5. Do I follow through with ALL aspects of my trading plan with every trade?<\/p>\n

So, your mission…<\/strong>
\na. Complete the above (make some notes on the questions about where you are now and any potential gaps that you think you need to fill, not just read them).
\nb. With the list you have created, put these in order of how much of an impact you think they could make to your trading results.
\nc. Start with the first step \u2013 Take Action! (and when complete, get working on the second and so on).<\/p>\n

We can help with the training to help you in doing any necessary gap-filling through education both in our Next Steps Course and our Inner Circle education community.<\/p>\n

Join us, it would be great to see you there.<\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cThe least initial deviation from the truth is multiplied later a thousandfold.\u201d\u00a0\u00a0– Aristotle We came across the above quote from the famous Greek philosopher and couldn\u2019t help thinking how relevant this is to trading, so thought it was worth a discussion to stimulate some self-reflection of your behaviour and thinking like a trader. The reality […]<\/p>\n","protected":false},"author":29,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2814],"tags":[],"class_list":["post-145939","post","type-post","status-publish","format-standard","hentry","category-trading-strategies"],"acf":[],"yoast_head":"\nAre You an Honest Trader? 5 Powerful Questions to Ask Yourself Now - Wixad<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/articles\/trading-strategies\/honest_trader\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are You an Honest Trader? 5 Powerful Questions to Ask Yourself Now - Wixad\" \/>\n<meta property=\"og:description\" content=\"\u201cThe least initial deviation from the truth is multiplied later a thousandfold.\u201d\u00a0\u00a0– Aristotle We came across the above quote from the famous Greek philosopher and couldn\u2019t help thinking how relevant this is to trading, so thought it was worth a discussion to stimulate some self-reflection of your behaviour and thinking like a trader. 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