Amateur retail traders tend to think that the professional trader or Institutional investor have some sort of secret knowledge/system that enables them to make huge profit in trading. However, the difference between a retail traders trying to make consistent profit and a professional traders zeros down to the trading mindset and trading psychology.The difference between… Read More »
1.Knowledge Knowledge about yourself, Your reaction when price goes in your favor, against you. Knowledge about your trading system and risk and money management. 2. Information You cannot trade without information. Information is required to evaluate any unforeseen influence entering in market. Knowing about results of company/Election results/Central Bankers meet. 3. Confidence With Confidence trader… Read More »
Source Dr. Van K. Tharp is a professional psychologist and trader coach who has come up with a very interesting set of trader personality types that novice traders can use to help assess their psychological suitability for the trading arena. Each of the fifteen trader types identified by Dr. Tharp conforms to a certain trading… Read More »
-By Peter Bregman. This morning, like every morning, I sat cross-legged on a cushion on the floor, rested my hands on my knees, closed my eyes, and did nothing but breathe for 20 minutes. People say the hardest part about meditating is finding the time to meditate. This makes sense: who these days has time… Read More »
How do you know if your trading psychology problem is really just about trading or is a sign of larger problems? Here is a quick checklist: A) Does your problem occur outside of trading? For instance, do you have temper and self-control problems at home or in other areas of life, such as gambling or excessive spending?… Read More »
Larry Hite While the speculator doesn’t have the product knowledge or speed, he does have the advantage of not having to play. The speculator can choose to only bet when the odds are in his favor. That is an important positional advantage. In the above quote, Larry is referring to the fact that smaller retail… Read More »
As a trader we need to do constant improvement, as trading is an evolving filed and we need to adjust ourself based on changing market conditions. To be best we just need to avoid doing mistakes, the more we minimize our mistake better we will become. Below we have listed few mistakes which if avoided… Read More »
Benjamin Franklin was the youngest son of 17 children. His father was a poor candle-maker. He simply couldn’t afford to supply his youngest son with opportunities early in life. So young Franklin had to make them himself. He had to make his own way in the world. First, he spent 5 unhappy years toiling as… Read More »
In all my years of trading and talking to fellow traders, I have noticed that newbie traders are susceptible to four main psychological pitfalls. Let’s take a look at each one and examine them carefully. Hopefully, after reading this, you will be able to see them coming and stop them before they destroy your account.… Read More »
-by Swami Sukhabodhananda There was a belief in an empire that whoever becomes its emperor, would go to heaven and inscribe his name on a golden mountain. A man believing this ideology, toiled throughout his life, sacrificed his happiness and became the emperor. When he died, he went to heaven. The gatekeeper at the doors… Read More »