The Trading Coach Podcast 1177 - Is Your Ego Stopping Your Profits?
Jun 19, 2025
Explore how ego can hinder your trading success and the importance of adapting strategies from others. Discover the risks of impulsive trading fueled by flashy promotions, and the necessity of mastering core tools like the RSI. The discussion highlights the benefits of research and community collaboration, emphasizing that overcoming personal ego can lead to better strategies and enhanced profits. Don't trade in isolation; connect with others to elevate your trading game!
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Prioritize Trading Strategies
- Organize your trading strategies by prioritizing what to focus on first, second, and third.
- This prevents bouncing around and increases productivity in your trading development.
Research Before Developing Strategies
- When developing a strategy, conduct thorough research before proceeding with your ideas.
- Use trusted sources and community feedback to shorten your learning curve effectively.
Ego Cost a Skilled Trader Years
- A skilled trader abandoned profitable strategies after discovering others used them due to pride.
- This ego-driven shift led to years of losses until he committed to trading proven strategies again.