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Reacting to Criticism of Your Forex Trading Style

August 12, 2013 by

Whenever you share details of your trading strategy or some traits of your trading style, you become a target of criticism, coming from both experienced traders and those who have no idea what they are talking about. For a professional trader it is important to stay calm and apply rational thinking when it comes to real or alleged disadvantages in his system. Unfortunately, it is not often an easy thing to do.

Many traders do not like to hear anything critical about the produce of their mind. As the result, they will shun any advice that would require significant alteration of their trading system. Other traders, on the contrary, are too responsive to external judging. They will listen to every remark about their trading style and will try to change everything that can be changed. This may lead to chaotic and unsystematic trading, which also would not fit trader’s personality. To sum it up, getting some external criticism is a great way to prepare your strategy to something you may have overlooked, but getting too far with it can be dangerous.

I, personally, find it hard to follow any critical advice, but eventually I take some time to weigh the given arguments and reasoning and usually apply at least some of the suggestions. And how about you?

How do you react on critique of your trading style?

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If you would like to share a detailed opinion on reacting to criticism in Forex trading, please feel free to reply to this post using the form below.

One Response to “Reacting to Criticism of Your Forex Trading Style”

  1. greg muir

    This is a very interesting point to make. The view I have towards this and I suppose it’s a bit obvious is if your trading system is making you consistent profits I really don’t see how someone can judge your system in a bad way.
    on the other hand if your system is not producing profits you should be open to constructive comments. In the long run it can only help you towards the direction you want to achieve.
    founder

    Reply

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