Find your own definition of success Traders are often surrounded by other traders, and it’s easy to get caught up in comparing your performance against others. While competition can often inspire us to elevate our game, it can become an occupational hazard when external forces push us to trade more recklessly than we normally would. One example is when you see another trader make huge gains from a trade, you decide to jump on it, right before the market turns. Another example is if you feel like your performance is lagging your peers, so you decide to override your risk management process by increasing the size of your positions. The emotional pull of beating your peers is a dangerous trap, and the sooner you can resist it, the better. Determine your own measure of success and compete with yourself and nobody else.