Socrates understood the importance of “knowing thy self”. In other words, knowing your strengths, your abilities and how you can best employ them to your own advantage. Socrates also believed the best way for people to live was to focus on self-development rather than the pursuit of wealth.
The same concepts can and should be utilised in your approach to trading. To progress through the Four Stages of Development, a trader must focus on self improvement rather than profits. By focusing on self improvement you expand on your strengths, abilities and thought processes. This in turn generates the profits you desire as a trader.
The process of self development is not limited to the identification of your strengths and abilities alone. It should also lead you to a deeper understanding of your trading strategies.
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