11 points on being no ego. Some of these are quotes are from the notes I have on the Market Wizards books, but I can’t remember who specifically. It’s something that is common across great traders.
- Don’t be a hero, don’t have an ego.
- The people that want to be recognised as being good traders let ego get in the way.
- Give up your ego and listen to what the market tells you and you will have a tremendous source of information.
- What counts is not how often you are right but how much profit you make on your winning trade’s vs your losing ones.
- Be honest with yourself.
- Your ego is not a good trader.
- Let go of your fears. Let go of you hopes. Just sit quietly in the moment and experience it fully.
- Don’t talk about your trading – except if someone is genuinely curious.
- Ask questions and listen. Don’t be in a rush to have your point of view heard.
- Be humble, gracious and thankful, otherwise you will get cocky and the market will humble you.
- To be a winning trader let go of your ego.
About the Author
Sam Eder is a currency trader and author of the Definitive Guide to Developing a Winning Forex Trading System and the Advanced Forex Course for Smart Traders (get free access). He is a co-owner of Forex Signal Provider www.fxrenew.com. If you like Sam’s writing you can subscribe to his newsletter.