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Don’t Know How To Be Wrong? Then You Shouldn’t Be In The Market

S&P 500 Daily Chart

S&P 500 Daily Chart

Some of the worst behaviors come out on the internet when people hide behind anonymous handles. These people use the cover of anonymity to say and do things they would never have the courage do to someone’s face. Yet somehow, this has become the normal way of interacting online.

One of the most frequent abuses in trading circles is taunting someone for making a wrong trading call. When a person shares a markets-related idea, a certain segment of the community eagerly looks forward to crucifying them if that trading call turns out wrong. While this vulgar act tells us very little about the skill of the person that made the incorrect call, it speaks volumes about the critic’s trading abilities.

Every savvy trader learned early in their career, mistakes and losing money are normal parts of this game. They know trading successfully means being wrong…a lot. The difference between the sophisticated trader and these uninitiated critics is they don’t think anything of being wrong. To them, a mistake is a mistake. Take the loss, learn from it, and move on.

Savvy traders most certainly don’t taunt anyone for a trading call that doesn’t work out. They learned a long time ago some trades simply don’t work out and the outcome of any individual trade is not an indication of a person’s abilities. They took a chance and it didn’t work out. Nothing more, nothing less. And when they are right, rather than gloat, they recognize they could have just as easily been the one on the losing end.

If you see someone criticizing another person for making a wrong call, that tells you right away the critic doesn’t have a clue how markets work. If a person believes there is nothing more important than being right or wrong, that person clearly doesn’t understand how successful traders approach the market.

If you find yourself on the receiving end of these attacks, shrug it off. It is obvious the person attacking you knows even less about trading than you do and their opinion doesn’t matter. The most successful traders are the most modest because they have been on the losing end of more trades than they can count. Only trading novices make a big deal out of the outcome of any individual trade.

Don’t Know How To Be Wrong? Then You Shouldn’t Be In The Market

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