Perfectionists consistently lose money?

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!!!!!!


Quote from crgarcia:

Perfectionists tend to look for Holy Grails and exact tops/bottoms.

Perfectionists are so self-confident that often they leverage, and hold to losing trades forever, to avoid having to admit they were wrong.
More...
 
Quote from 4DTrader:

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?
More...

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.
 
Quote from DeeDeeTwo:

This thread is Total Reaking Bullsh*t and so very worthy of ET.

I nominate it for Thread of the Year.


In reality, you MUST be a perfectionist to build ANY successful business.
More...

I second . . . on point 2 & 3 . . . and half of 1.
 
Quote from crgarcia:

Perfectionists tend to look for Holy Grails and exact tops/bottoms.

Perfectionists are so self-confident that often they leverage, and hold to losing trades forever, to avoid having to admit they were wrong.
More...

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


“They say that nobody is perfect. Then they tell you practice makes perfect. I wish they'd make up their minds.”

-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
 
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