Whenever you share details of your trading strategy or some traits of your trading style, you become a target of criticism, coming from both experienced traders and those who have no idea what they are talking about. For a professional trader it is important to stay calm and apply rational thinking when it comes to real or alleged disadvantages in his system. Unfortunately, it is not often an easy thing to do.
Many traders do not like to hear anything critical about the produce of their mind. As the result, they will shun any advice that would require significant alteration of their trading system. Other traders, on the contrary, are too responsive to external judging. They will listen to every remark about their trading style and will try to change everything that can be changed. This may lead to chaotic and unsystematic trading, which also would not fit trader’s personality. To sum it up, getting some external criticism is a great way to prepare your strategy to something you may have overlooked, but getting too far with it can be dangerous.
I, personally, find it hard to follow any critical advice, but eventually I take some time to weigh the given arguments and reasoning and usually apply at least some of the suggestions. And how about you?
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