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think might be. And the victim-blamers know they're not perfect traders but can't stand the thought that somewhere out there someone else might be. |
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Disciplined online investors have to walk a fine line. They have to stay balanced on what I have called the "razor's edge," between trying to excel without falling into the trap of perfectionism. Often, they are viewed as one and the same. So let's try and be very clear on the crucial ways they differ. |
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Here are some of the characteristics of perfectionistic thinking: |
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The perfectionist is motivated not by the desire for improvement but by the fear of failure. |
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The perfectionist tends to view the world in all-or-nothing terms. |
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The perfectionist has a large number of severe self-commands. |
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The perfectionist tends to focus on the negative in a situation and not on the positive. |
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The perfectionist is quick to jump to conclusions based on inadequate information. This leads to interpreting situations in a negative way without taking the time to gather sufficient information to warrant the judgment. |
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Perfectionists, although often as critical of others as they are of themselves, tend to blame themselves for what is not their doing. For example, they may blame themselves for entering a stock position that goes down soon after they buy due to a news event that could not be anticipated. |
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Hard-core perfectionists have obsessive-compulsive tendencies. As we have discussed with the obsessive-disciplined trader type, these tendencies have both an upside and a downside when it comes to online investing. |
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We can help clarify the distinction between perfectionism and seeking excellence by describing the healthy characteristics of the person striving for excellence. As you consider these, think how they may |
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