“Learning any new skill involves relatively brief spurts of progress, each of which is followed by a slight decline to a plateau somewhat higher in most cases than that which preceded it…the upward spurts vary; the plateaus have their own dips and rises along the way…To take the master’s journey, you have to practice diligently, striving to hone your skills, to attain new levels of competence. But while doing so–and this is the inexorable–fact of the journey–you also have to be willing to spend most of your time on a plateau, to keep practicing even when you seem to be getting nowhere.” – George Leonard (Mastery)
As a trader, sometimes it feels as though all the efforts you are investing into trading are not paying off. This is in fact normal.
Embrace the suck and realize that the most pivotal moments of your development will be spent on a plateau.
Think of the plateau as a pullback in a stock that has just had a large run up. In this light, recognize that the plateau is just a healthy consolidation before the next leg up.
The key however is to not overextend yourself during this phase by trying to make something happen. This is where I see a lot of traders do harm to their development.
If you notice you have plateaued, keep active, stay focused, and engaged but don’t make earning a lot of money your focus. The key at this stage is to not to lose money which will undo all the positive emotional and psychological progress which will cause you to start to look for changes in all the wrong places.
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