TRADER IS PROHIBITED TO COMPARE YOURSELF WITH OTHER TRADER, WHY?

Trading on your own is the best way to experience your success and failure. Although most traders are ultra-competitive by nature, comparing yourself to other traders is not in your best interest. In the world of work, newcomers are bound to be compared to old people. If his work performance is poor, he will be considered less than excellent, even though he may just need a lot of training. Compared, of course it feels uncomfortable. So, now the question is, have you ever compared yourself with other traders？ How do you feel, are you comfortable in that position yourself？

In business including the forex trading business, making exact comparisons is difficult to avoid. Fellow businessmen tend to like to compare their successes. As a trader, some people may measure their success based on how much wealth they have accumulated. One day you may feel jealous of some of your colleagues in the trading group who have managed to buy a new car with the profits they have made.

Meanwhile, if you look at yourself, let alone buying a car, you still can't be disciplined in a trading plan. Margin callsstill a scourge that is often experienced. As a result, you may doubt whether you will succeed. While constantly comparing yourself, you wonder if all the hard work you've put in was really worth it. You are confused whether forex trading is your ninja way or not.

Most of trader found that whenever they started comparing their trading performance with other forex traders, their performance would usually worsen. This “distraction” typically led to losses for both their trading account. Quite often we find, traders who like to compare themselves with other forex traders will produce increasingly worse performance. A wise trader must put things in the right perspective. Then focus on your forex trading activity or progress.

Below are 5 things you need to take note whenever you compare yourself to other traders:

#1 Consider your experience and forex trading skills.

The one you look at and compare you to is probably a pro trader. Of course, his level of knowledge and skills is different from yours.

#2 Different traders, different momentum, different character.

Even if you follow the same system or are trained using the same trading plan , that doesn't guarantee it will give you the same results. You may be trading in a different time zone or looking at a different currency pair. You may miss some opportunities that other traders may do.

#3 No trader is always right.

You also need to remember, that traders who seem successful in making profits in groups or on social media are not guaranteed that they have never experienced mistakes and losses. It could be that they experience consecutive losses but do not publish these losses because they are embarrassed and are more concerned with image.

#4 Remember your goal as a forex trader.

Not necessarily other traders have the same goals as you. Will flaunting your success financially accelerate the achievement of your goals？ If not, just focus on the vision you want to aim for and the things you really want.

#5 Your trading progress is more important.

Rather than being insecure about being unclear, it's better for you to step back for a moment to evaluate your trading performance. Regardless of the success of other traders, just think about whether or not you have followed the rules of the trading plan and practiced proper risk management . Compare yourself from time to time—how well you are progressing today compared to the day before. You are responsible for honing your forex trading skills.

Therefore advisably you need to have in minds that What works for other people may not work for you. Your performance has nothing to do with other people's performance. If you find other traders who seem to be more successful than you, just use it as motivation. Trading is not a competition. You don't look as successful now, but other people who are successful today have also failed or fallen short like you.

As the saying goes, “Comparison is the cause of loss of joy.” You may actually be a fairly good forex trader, but you ignore small wins and forget about your progress because you are too focused on seeing other “better” traders.