vinyl siding installation siding installation hardie plank siding wheaton siding companies siding companies .. Chicago Drug testing

What Can Model Airplanes Teach You About Trading?

I was devastated!

I just couldn't believe it. I was 10 years old and my dreams were shattered. I never wanted to look at another model airplane again!

But I'm getting ahead of myself. Let me start at the beginning.

When I was about 8 years old my older brother got interested in model airplanes. He had one that was connected to a control handle by fine wires. It flew around in circles whilst he stood in the middle controlling it.

[This was just before radio-controlled planes became popular -that's showing my age!]

And occasionally he would let me fly it.

The first time I flew his plane I was hooked!

I can still smell the fuel and hear the high pitched wine of the engine as I caused it to rise and dip as this fast moving object tried to pull my arm off!

I wanted one for myself. But I guess my parents thought I was too young. So it was some time later and after saving my pocket money for what seemed an eternity that I finally got to buy my own model aircraft kit.

I can remember going into the hobby shop and choosing which one to buy. And then rushing home to get started on putting it together.

I was so excited as I opened the box. And I got all the balsa wood and other materials out on the kitchen table and studied the plans.

The first task was to cut the sides of the body of the plane out of balsa wood. It was a big plane and so the body was quite long.

The first time I did this I was doing it freehand.

So I borrowed my Dad's big metal ruler. And I carefully cut along the line that I had marked on the wood.

But it was still crooked!

I tried once more and then I gave up. And I never made a model airplane again!

You see I wanted my first model plane to be perfect. But I realized that I couldn't achieve that. And so I gave up.

Years later I can still remember the frustration and disappointment that I felt at that moment.

Now what is the point of my telling you about my childhood traumas?

Novice traders often fall into the trap of wanting everything to be perfect before they place a trade. They want all their indicators to line up and they demand a perfect candlestick setup pattern.

Perfectionism has no place in the stock market.

Now, I'm not saying that you shouldn't try and be the best trader you can be.

But accept that you will never know all there is to know. And that you will have to make your trading decisions based on imperfect information.

And despite that realize that you don't need to be perfect to be successful.

Misguided perfectionism robbed me of pleasure as a 10 year old. Don't let it rob you of trading success.

David Chandler

Ordinary People Making Extraordinary Profits!

For free mini-course on stock and options trading click the following link: http://www.StockMarketGenie.com

Or visit our blog at: http://stockmarketgenie.blogspot.com/

The above comments are offered for educational purposes only. We are not providing you with financial advice. We are simply sharing with you what has and hasn't worked for us personally. If you wish to trade or invest in the stock market you should obtain advice from a registered licensed advisor.

In The News:

Trading Tips No 2: The Big Lie in the Stock Market

It is commonly reported that the stock market averages about... Read More

Picking Mutual Funds to Outperform the Market

With over 6,000 mutual funds available, it may be tempting... Read More

Intervention

Intervention. Now don't let that big word scare you. The... Read More

How to Maximize Your 401k Mutual Fund Returns

When it comes to 401k's there is an overabundance of... Read More

A Penny for Your Stocks

According to Investopedia Inc. the penny stock market has seen... Read More

Dont Spend Another Dollar on Business Opportunities Until You Read This

With an insecure job market, overworked employees, insufficient retirement savings... Read More

Is Active Trading The Answer?

One of the main reasons many of us get into... Read More

Lemmings Are Gathering

Before they go over the cliff to their destruction these... Read More

Bad News is Good News

For weeks, no, months we have been bombarded with nothing... Read More

Perfect Storm

Having lived aboard a sailboat for 2 years I was... Read More

Planning Your Dive and Diving Your Plan ? Trading!

A colleague of mine just returned from a scuba diving... Read More

How To Beat The Mutual Fund Companies At Their Own Game

You'd have had to be living on a desert island... Read More

Defining a Long-Term Investment in the Stock Market

For some "long term" would mean holding a stock position... Read More

Low Expense Ratio

One of the big advertising kicks today from mutual funds... Read More

Stocks & Oil, Sat Jun 18th, 2005

Both the stock market and oil prices rallied recently, which... Read More

Economists

In today's volatile and confusing stock markets everyone is searching... Read More

The Secret Art of Backtesting

If you have not back tested your trading system, you... Read More

Who Knows?

The Shadow knows. Remember him? It seems a shadow has... Read More

Inertia

One of the basic laws of physics is that a... Read More

Enron Cure

Let's hope you did not have any of the Enron... Read More

Trading Tips No 8: Picking the Best Stock Market Price

Carefully thinking through your goal as a trader is of... Read More

It Cant Be Done

Wouldn't it be nice if you were only in the... Read More

The Surgeon General

The Surgeon General of the United States says that smoking... Read More

Is The Bear In The Cage?

For the last few weeks we have seen the stock... Read More

Market Timing

Every broker and financial planner will tell you that you... Read More

white led bulb led wallpacks Pete's produce ..
white led bulb led wallpacks Pete's produce ..