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Indecision In The Markets

One thing I’ve struggled with is indecision. While it is good to want to the best decision, sometimes indecision has the ability to freeze us – which is not so good while trading. Feeling stuck between two choices while trading can lead to lost opportunity and money. My father recognized my reluctance to make choices when I was still pretty young and has tried to help me recognize the value in making correct choices quickly.

When I was little my dad introduced me to what seemed, in my childish world, a sort of heaven on earth: Cold Stone Creamery, an American ice cream parlor chain. Never before had my small mind even imagined the array of toppings and ice cream flavors presented before me.

food-ice-cream

If it had been a simple choice of chocolate and vanilla, my decision would have been clear: a twist. My dad’s brilliant idea to walk in for a quick sweet treat didn’t follow through as I promptly asked to sample every possible kind (except for mint chocolate chip, I know it’s a classic but I’ve never appreciated toothpaste flavored ice cream). While I was still debating between cotton candy and birthday cake 15 minutes later my dad in exasperation just ordered me a vanilla cup. I was indignant! However, young as I was, I was able to recognize from his mood that it was not the moment to throw a tantrum.

We all know the frustration–whether it stems from others or ourselves–of somebody who cannot make a decision. Choosing between option  A or option B is a painful  process, not to mention the agony of adding an option C. Being hung up with indecision is worse than making a wrong choice. If you make a wrong choice, then at least you are moving somewhere, and you have the opportunity to correct it and move the right direction (probably all in the time you would have wasted debating over and over again which choice to make). Making choices becomes much simpler when you have a goal and a plan, because

We all know the frustration–whether it stems from others or ourselves–of somebody who cannot make a decision. Choosing between option  A or option B is a painful  process, not to mention the agony of adding an option C. Being hung up with indecision is worse than making a wrong choice. If you make a wrong choice, then at least you are moving somewhere, and you have the opportunity to correct it and move the right direction (probably all in the time you would have wasted debating over and over again which choice to make). Making choices becomes much simpler when you have a goal and a plan, because then choices become clear. We know what to do [what will take you to your goal] and what to do not [destructive or distractive choices that take away from what needs to happen].

Entering the right trade is a great deal more important than choosing the right ice cream flavor; being able to weigh between options and pick the best one quickly can be harder than it looks. At first glance, one might assume it’s a simple choice between two options: buy or sell. However, we know that there is a lot more planning and thought involved. Sometimes the seemingly complicated life of the stock market can be confusing or overwhelming, hindering your ability to make choices. This is one reason why taking the time to establish your trading goals are so important. A trading goal can act as a sign that points you in the direction that’s best for you.

Happy Trading!

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