Number one key to becoming profitable in trading is creativity and innovation. Successful traders find creative and innovative setups or processes to trade the same market.
Like any other business innovation is key. If Tesla made car same as others would it be successful? Trading is a innovative business. Through history of trading traders have found innovative ways to trade.
When you question assumptions or look at data or charts differently you find new ways that others may not have noticed. That is how new setups are developed.
Sometimes it is process innovation that results in you entering or exiting a trade differently than others trading the same setup that creates an edge. OPG or MOO orders to enter is such small innovation. Peeling position for exit is another.
Creativity and innovation is not the focus of most new traders. They are told key to success is discipline so they start barking up the wrong tree. Many traders talking about discipline themselves spent early years in finding creative trading setups or solution.
Later they execute that creative setup with discipline and as a result forget the key to their edge was their hunt for creative edges in initial years.
Creativity and innovation is especially important for beginner traders who have not yet found their setup.
There are two distinct phases in trader development that occur all the time. Hunt for creative and innovative setup or process. Once you find something unique then executing it with discipline to build an edge. If you donβt focus on creativity phase you just donβt make to second
To be creative and innovative you need to be a leader , if you just follow someone blindly and copy you will never be creative. Follower ship kills creativity. Erase the F in front of your name if you want to be highly profitable in this business.
Traders are fascinated by other traders interviews, why because you can find innovative and creative ways in which the trader approaches his or her trading . If all trading interviews were about disciple how many would watch them?
Creativity is a high risk and high reward life strategy while discipline is low reward low risk strategy. Most people when young are creative and innovative but lose the spark as they age.
To be creative and innovative you need to be able to challenge things , which is high risk as it can lead to loss of face and humiliation. Average person does not want to take the creative risk. That is why they remain average.
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