We often say this, "I will wait a bit to do this". When it becomes regular, it turns into procrastination.
There are several good books I've studied through about the topic of procrastination.
And I am not going to reiterate those details. I'll jump right into the topic.
Procrastination is very harmful in the trading world.
Top reasons for procrastination are:
1. Fear: Fear of failure or how you will be judged
2. Perfectionism
3. Overwhelmed: A task so difficult that you don't know how to start or end
4. Negativity toward your task
5. Addiction:
Relying on the thrill of getting sth achieved at the last minute
6. Impulsiveness
Don't have patience to end a task
I don't need to go into too much details about how the above aspects can damage your trading performance.
If you hold onto your losers too long till you can not bear the pain... If you watch sth and hesitate
and never able to execute... If you keep putting off your trading journal... If you can not stop refreshing the trading forum web page, yet don't have the mood to review your recent trades and last week's market... The chance is, you are falling into the habit of procrastination. Not only you need the experience and training to help you plan for better trading, but also you should be very alert to your
bad habit of procrastination.
It can destroy you, in a subtle way.
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