Self-Deception Is Our Enemy
"Zeno would also say that nothing is more hostile to a firm grasp on knowledge than self-deception."
— Diogenes Laertius, Lives of the Eminent Philosophers
Today's meditation is so true for us as traders too. A sentence in the first paragraph sums it up perfectly! "Ego is the sworn enemy of our ability to learn and grow!"
If we become overconfident with delusions of grandeur and we are going through the motions thinking that everything that we trade will turn to gold, how can we possibly learn and improve?
We need to be on our guard, fully focused and ready to exit a trade in a heartbeat if it's not going as we planned. We always need to be ready to expect the unexpected, so that we can avoid unnecessary errors!
We must learn from any mistakes and strive to become better and more consistent traders, every day that we trade.
As traders we are never the finished article and we can always improve. Nobody is perfect and we mustn't fool ourselves into thinking that we are; no matter how good our trading goes!
Be forever humble and grounded and remember that "self-deception is our enemy."