Humility

An Exercise in Humility (Photo credit: Wikipedia)

Humility is one of the most important characteristics a trader must have. Being humble is to be free from self deception.

“There are two ways to be fooled: One is to believe what isn’t so; the other is to refuse to believe what is so.”

…Søren Kierkegaard

Question your analysis, question your capital allocation strategy, question every aspect of each trade that you make. Never get to the point to where you have so much confidence in your trading ability that you take any aspect of it for granted.

As they say pride cometh before the fall….

To be a skeptic is to increase the chance that you are free from self deception. In doing so you increase the probability that you will not end up on the wrong side of a trade.

 

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