Wikipedia defines "thinking outside the box" as:
Thinking outside the box is to think differently, unconventionally, from a new perspective. This phrase often refers to novel, creative and smart thinking. This is sometimes called a process of lateral thought or lateral thinking.
Most of us know what that means, but very few investors or traders use it (or know how to use it) when it comes to the stock market. We are all in agreement that at least 90% of all traders and investors lose most of their money in time. Surprisingly, most traders still employ the same strategies or approaches that would result in a 90% failure rate. To do the same thing over and over again and expecting to achieve a different result is insanity.
So you have to ask yourself: What are you doing that is so unique from the majority of already failed traders (of all nationalities and IQs) before you? If you cannot answer that question, you will undoubtedly fail as a trader. There is just no way around it. It is pure and simple logic.
Are you addressing your gambling habits? Money management issues? Discipline? Could it be that your approach to (or your view of) the market is not very sound to begin with and that is what's creating all those above issues for you? Perhaps you might want to use lateral thinking and try a different approach?
Thinking outside the box is to think differently, unconventionally, from a new perspective. This phrase often refers to novel, creative and smart thinking. This is sometimes called a process of lateral thought or lateral thinking.
Most of us know what that means, but very few investors or traders use it (or know how to use it) when it comes to the stock market. We are all in agreement that at least 90% of all traders and investors lose most of their money in time. Surprisingly, most traders still employ the same strategies or approaches that would result in a 90% failure rate. To do the same thing over and over again and expecting to achieve a different result is insanity.
So you have to ask yourself: What are you doing that is so unique from the majority of already failed traders (of all nationalities and IQs) before you? If you cannot answer that question, you will undoubtedly fail as a trader. There is just no way around it. It is pure and simple logic.
Are you addressing your gambling habits? Money management issues? Discipline? Could it be that your approach to (or your view of) the market is not very sound to begin with and that is what's creating all those above issues for you? Perhaps you might want to use lateral thinking and try a different approach?
