This past weekend I got together with a trading buddy and we were talking performance. Like many are apt to do, he excused average performance with the “but I beat the indexes” cliche.
That is one of my biggest pet peeves. The idea that I could be down three percent but feel good about it because the indexes had done worse is foreign to me. If that is your thought process, I doubt you will ever become an exceptional trader. Sure, you may become a consistently average trader, but is that really why you put in all the time and effort, to be average?
I’m in it to make monster profits. I know the fact that I am an individual investor, who can move in and out of positions with ease, both to the long and short side, gives me a huge advantage. I am not satisfied with average performance, and neither should you.