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out against others, you find that your mind tends to question your own judgment when you have too long to think about the market and nobody readily available with whom to share your ideas. |
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Doubt thoughts may grow to the point that decisions already made are questioned and requestioned. Obsession may visit you often enough to become more than a passing acquaintance. These visitations may lead to prematurely undoing positions out of the fear that a mistake has been made. You may feel like you've been handed the city key and made a permanent resident of Regret City. |
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This is where having a set pattern or sequence to go through for each and every trade helps circumvent any impulsive decision making. If you have a plan that you are following before each trade, then it is a matter of having the discipline to follow your plan. This kind of discipline can be learned on your own but is often best picked up at courses or seminars on trading that emphasize trading only with a clear plan in mind. |
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So, one result of being isolated at home from other traders is the mental sloppiness which may so easily creep into one's thinking and behavior. When we talk about the disciplined online investor, perhaps in no other area is discipline so relevant as following a plan which will lessen doubt thoughts. |
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Specific personality types react differently to being alone. Some enjoy being alone and will not experience it as isolating. Other types will be more uncomfortable with themselves and be quick to reach out for contact with others when possible. Here is a summary look at how they react. |
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Personality Types and Isolation |
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The gambling-impulsive type likes the competitive factor that is found in the trading room. They thrive on the interaction with others. They are more likely to experience some loneliness and isolation trading at home. They are also more likely to take chances in their trading, not being careful to follow a trading plan for every trade. They may find it easy to overtrade when on their own. This would hold true as well for the longer-term investors who happen to be of this personality type but who are not interested in active trading. |
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The obsessive-disciplined type handles the isolation factor rather well, compared to the gambling type. They are able to use their obsessive nature to follow a trading plan methodically and like having total control over their personal environment. |
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