Do you suffer from lackoffocusphilitus?
You know it is so easy to talk about a trader losing his or her focus and to discuss the importance of focus but what good does it do if the trader is not aware of her lack of focus? To lack focus is one thing but to not be aware of it is quite another. In creating proper self awareness it is important to recognize symptoms. Once the symptoms are determined then the cause can be discovered. Much like a physician who asks what is wrong, “what ails you” so he can then determine the disease and with it design a proper course of action. What follows are some of the symptoms of the lack of focus. If several of these are present then you are most likely suffering from lackoffocusphilitus.
1. Unusually high string of losses uncommon with your trading history and probability statistics.
2. Loss of interest in Market study.
3. Ignoring your open position account balance (otherwise known as denial).
4. Anticipating and looking forward to the Market close instead of the open.
5. Spending more time reading chat room comments than reading the charts.
6. General fatigue.
7. Tendency to beat yourself up with negative self talk.
8. Lack of confidence in entering your own high probability edge.
9. Not recognizing your edge when it is offered.
10. Blaming the Market for mistakes and losses.
11. Studying the charts and suggestions of others in place of, instead of in conjunction with, your own studies.