Traders must have the perseverance to stick to trading until they break through to success. Many of the best traders are just the ones that had the strength to go through the pain, learn, and keep at it until they learned to be a success. Great traders cut losing trades short. The ability to accept… Read More »
The goal of a successful trader is to make the best trades. Money is secondary.” ==== Money is secondary? What the hell? Is Alexander joking? Well, if we take some time and analyse this quote, Mr Elder has a very important point to make. How can good trades be better than money ? Why are… Read More »
You have to be willing to make mistakes regularly; there is nothing wrong with it. “My Guru taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money.” “It doesn’t matter how often you are right or wrong —… Read More »
If you ever met a successful trader one thing you would have noticed most of them in some part of there life were related to sports. What’s the connection between being an sportsman and stock market trader? I believe it has everything to do with the qualities and the mindset that these individuals have. I… Read More »
When we speak of “The Trader’s Mindset” what are we really talking about? Many of my studentsoften ask me this question and we talk about it a lot with traders I mentor. When we trade the markets we approach the markets each and every day with a psychological mindset or set of beliefs and emotions.… Read More »
There are hundreds of trading styles out there. There are dozens of markets to trade. There are multiple time-frames to trade on. But there are only 2 kinds of traders that are making any money. And the only question you need to be asking yourself is: am I one of them? If you are one… Read More »
1) The amount of time spent on their trading outside of trading hours (preparation, reading, etc.); 2) Dedicated periods to reviewing trading performance and making adjustments to shifting market conditions; 3) The ability to stop trading when not trading well to institute reviews and when conviction is lacking; 4) The ability to become more aggressive… Read More »
To make money every trade. At first, I did not have the ability to make money every trade. After I had the ability to make money on most trades I realized it was a horrible objective. If you want to make money on every trade you are always waiting. You can never take that much risk… Read More »
“Soros is the best loss taker I’ve ever seen. He doesn’t care whether he wins or loses on a trade. If a trade doesn’t work, he’s confident enough about his ability to win on other trades that he can easily walk away from the position. There are a lot of shoes on the shelf; wear… Read More »
Market has been Topsy turfy in past 4 trading session and we have a long trading weekend coming ahead which should be used by traders in productive manner to improve trading, Let me discuss a real life incident of my student how he was afraid of trading and how after going through the training he… Read More »