Individuals who have historically held the belief that they must exert greater effort than their peers may experience a heightened sense of guilt when required to remain inactive during market trading periods.
Consequently, they may seek justification for entering trades, even when the necessary conditions have not been satisfied. When their established protocols dictate maintaining a position, they might alter the exit point in an attempt to maximize profit.
This behavior often stems from the perception that additional actions equate to increased diligence and higher earnings.
While effort is essential, it must be directed toward appropriate activities. Traders should develop their own rules, rigorously test them against extensive datasets, and repeatedly practice independent execution. Effort should be invested in preparation until the strategy can be implemented consistently.
One should avoid neglecting preparation and subsequently attempting to compensate for this deficiency by making adjustments during live trading.
Introducing new trades or modifying rules outside of the established strategy constitutes a deviation from the prepared plan.
Therefore, all effort should be concentrated on preparation, while improvisation should be eliminated during execution.
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