Run Your Own Race

Many years ago, horsemen invented blinders to keep their horses focused on their work. Blinders are pieces of leather attached to the horse’s bridle that prevent them from seeing anything except what’s in front of them.

Without blinders, a horse can see almost completely behind itself without turning it’s head and can be easily spooked by movement or objects it doesn’t recognize. By having fewer distractions the horse is more dependable and stays focused on getting the job done.

As a trader, I always discovered that whenever I started comparing my trading performance with other traders, my performance would usually worsen. This “distraction” cost me lots of money in terms of losses.

While I hardly watch television, I admire Oprah Winfrey so I watched an interview of her on the Biography channel one day. She and the interviewer were discussing her success and she made the comment that comparing herself to other folks in her business always made her take a step backward from her goal. Her words made me realize that even highly successful people experience this.

Don’t compare yourself to others. It’s tempting in the modern, competitive world to constantly ask, “How am I doing?”

It’s easier said than done, but you should NOT allow how well you do compared to others affect how you feel about your inner worth and feelings of success in life.

Comparisons are useless. Run your own race.

Like the sport of golf, you alone are the one who needs to hone your trading skills. You are the one who must find a method that matches your skill level and personality. Comparisons to other traders just make you feel frustrated.

Don’t constantly think you are trying to beat others to an imaginary finish line. People who achieve great things work independently and on their own terms.

They don’t care how others are doing. They follow their own timeline, follow their own passion, and look INWARD for where to go next.

Notice how I said inward, and not outward. They look inward for where to go next.

How you perform has nothing to do with how others perform. All comparisons will do is torture you. You will feel jealously or envy.

When you see that you are doing relatively poorly compared to a fellow trader, you are likely to think distracting thoughts such as, “Why can’t I do as well?” or “I must not be as good of a trader as I had thought.”

To maintain motivation, focus on improving your past performance record, rather than looking at how other traders are doing.

You usually don’t know what factors created their performance records, so comparisons can only mislead and hinder you. They could just be on a lucky streak or have a market wizard standing right behind them on every trade providing advice.

Put your “blinders” on. Don’t look at anyone else’s record but your own. Everyone has a different learning curve.

Run your own race.

  • Tim Hargis

    I think that is really solid advice for most business owners in general. Sure trading is a lot different than McDonald’s but I definitely agree that you can’t worry about what other people do, if it’s working for you just go with it.

  • Broker77

    In trading as in life.
    Nice post mate.

  • Broker77

    In trading as in life.
    Nice post mate.

  • mvernal

    that was an inspirirng post cause its true

  • comfibold

    Great post dude. I agree with you 100%.

  • Mati

    Exactly Tight !!

  • Mati

    Exactly RIght !! Sorry dude there was mistyping before

  • mvernal

    that was an inspirirng post cause its true

  • comfibold

    Great post dude. I agree with you 100%.

  • PipsyGirl

    I agree with you. In our world, there are so many distractions and obstacles. Sometimes, they’re frightening.But we really don’t have any choice but to go on fighting.

  • Mati

    Exactly Tight !!

  • Mati

    Exactly RIght !! Sorry dude there was mistyping before

  • PipsyGirl

    I agree with you. In our world, there are so many distractions and obstacles. Sometimes, they’re frightening.But we really don’t have any choice but to go on fighting.

  • merouane

    I agree with this, live trading forums is something to learned to avoid, no need to read about other people trades and how many pips they’ve made, stick to your own plan.

    Thanks

  • merouane

    I agree with this, live trading forums is something to learned to avoid, no need to read about other people trades and how many pips they’ve made, stick to your own plan.

    Thanks

  • doggie01

    Thank you for taking the time to share this extremely useful information

  • doggie01

    Thank you for taking the time to share this extremely useful information

  • r32faisal

    yea i was making good money, then my dad came in and destroyed my perspective and i started losing money until i lost it all on purpose in a spree of anger. angry that i can’t trade without being watched and having someone force their opinions and judgments onto me.

  • r32faisal

    yea i was making good money, then my dad came in and destroyed my perspective and i started losing money until i lost it all on purpose in a spree of anger. angry that i can’t trade without being watched and having someone force their opinions and judgments onto me.

  • pipsnewbie

    Thank you very much for reminding me! I didn’t realize this until reading your post. Wow!!!! it just hit me that how I made money back day trading stocks and all the sudden I lost shit load of the money, and worst of all – lost all my nerve to trade. I didn’t know what happen until now!!!

    Thanks again! I will put on my own blinders now for everything!!!

  • pipsnewbie

    Thank you very much for reminding me! I didn’t realize this until reading your post. Wow!!!! it just hit me that how I made money back day trading stocks and all the sudden I lost shit load of the money, and worst of all – lost all my nerve to trade. I didn’t know what happen until now!!!

    Thanks again! I will put on my own blinders now for everything!!!

  • jawzza

    Hey!!! nice one…. sometimes we compare ourselves with other but we don’t know what road they where having…

  • jawzza

    Hey!!! nice one…. sometimes we compare ourselves with other but we don’t know what road they where having…

  • Argentum

    Thanks for the advice.

    Also, many of those guys “showing off” in forums, happen to be liars.. I have seen some guys getting banned for writing fake trades and profits.

    I just wonder why would someone “show off” in forums, with false and fake trades and profits? They are not even honest with theirselves. Anyway, best to do is just think in ourselves in this business. Nobody else.

    Greetings.

  • Argentum

    Thanks for the advice.

    Also, many of those guys “showing off” in forums, happen to be liars.. I have seen some guys getting banned for writing fake trades and profits.

    I just wonder why would someone “show off” in forums, with false and fake trades and profits? They are not even honest with theirselves. Anyway, best to do is just think in ourselves in this business. Nobody else.

    Greetings.

  • gthedrum

    Very true. This takes me back to 9th Grade in the School of Pipsology…Trade according to your personality. The only reason anyone should be reading about other trades is as an eductation tool. Ah, eductation…every day is a school day. Nice post.

  • gthedrum

    Very true. This takes me back to 9th Grade in the School of Pipsology…Trade according to your personality. The only reason anyone should be reading about other trades is as an eductation tool. Ah, eductation…every day is a school day. Nice post.

  • dblake862

    It’s Very important to not worry too much about your competition. It helps to know a little, but you can;t obsess over it! If you think you can effectively run your own franchise then check out franchise directory!

  • dblake862

    It’s Very important to not worry too much about your competition. It helps to know a little, but you can;t obsess over it! If you think you can effectively run your own franchise then check out franchise directory!

  • snowfall

    I totally agree with you 1000%, I always using this terms to get on in life, I am running my own race and am not been worried about another persons race, i just want stay in my lane and run my race and finish my course, and it does work brilliant for me. The moment you shift your focus on another persons race then you are in for trouble big time, not to mention if there’s a sign of envy or jealousy, that’s when you loose the battle, alway lead and don’t follow, hence you can listen to other people’s advise but make your own decission.

  • snowfall

    I totally agree with you 1000%, I always using this terms to get on in life, I am running my own race and am not been worried about another persons race, i just want stay in my lane and run my race and finish my course, and it does work brilliant for me. The moment you shift your focus on another persons race then you are in for trouble big time, not to mention if there’s a sign of envy or jealousy, that’s when you loose the battle, alway lead and don’t follow, hence you can listen to other people’s advise but make your own decission.