Comparison Is The Thief Of Joy ~ 5 min read

Realize that no one starts perfect.

Over the years I’ve noticed a few patterns associated with day trading and the need for validation. Whether its on social media or inside communities- there is a common trait among new, and seasoned traders, and it’s this notion that confidence is found through the approval of others. I don’t know if this is a good thing or not to be honest- only you can really say. The question you have to ask yourself, while you’re working toward mastering this skill, is — does “X” help me achieve “Y”. If the answer is “no”— you drop it.

In this case we’re thinking about the notion of validation through other’s approval. Now, we can make a case for who you are seeking approval from as being beneficial vs detrimental. Seeking validation from your educators is natural and encouraged.. but often traders find themselves just throwing their thoughts at the masses to see what sticks. If 10 traders say “that analysis looks good” but those 10 traders are amateurs — how does that validation play into your confidence? Does it boost it? Does it make you second guess your yourself? Does it matter if they are experienced or not? (It does.)

The only comparison you should make is between the old you and the new you.

Then the question becomes “do these 10 fire emojis really mean anything?” So in this case: X = seeking validation from others. Y = the goal of building confidence. Does X help me achieve Y? No- so we drop it. What does help is doing your own analysis and allowing the charts to do what it does— move without caring what you think.Do you find yourself taking trades because some random discord user has posted a potential POI they are thinking about trading? If so, it may be time to close discord and focus on your own analysis. Let time tell you who is right and who is wrong. Let your own analysis play out and build confidence in yourself. Don’t let the thoughts of others cloud your judgement as time passes. We cannot control how the candles move— all we can do is determine our market direction, select our POIs and look for entries. There isn’t a single thing you can do to change how the market will move. The only thing you can control is what data you consume while time is ticking and determine how it helps you achieve your end goal (if it does at all.)

It’s unhealthy to compare your beginning to someone else’s ending. Rather than measure your worth by what you produce, measure your confidence through the progress you’ve made. Realize that no one starts perfect, and the talent you perceive in the people you admire on social media is just the tip of an iceberg. Underneath all of that are many years of hard work, failures, and false starts.

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-BW