You don’t choose the stock market; it chooses you. A little bit of early trading success can have a profound effect on a person’s soul. If it does choose you, you’ll have to accept that your life and investing will become forever connected. Your methodology must provide an unshakeable foundation that you believe in totally, and you… Read More »
Do you see yourself in any of following mindsets? Have you ever done or thought anything like this? If you have not, then please stop reading since you have attained trading mastery and don’t need any words from me: No time to wait for setups. It looks like it might work, so I am going… Read More »
There are things that we do as traders that set us back in our journey to success and lose us money. There are other things that traders do that just destroy themselves. Many of the following things are done daily by the 90% of traders that lose money in the market consistently. If we want… Read More »
The vast majority of traders are gamblers, maybe the majority of market participants are in fact gamblers. The traders that are gamblers trade with no plan and without understanding the odds are stacked against them. Whether it is buying far out of the money options with no method for profitability or randomly chasing stocks on… Read More »
For years people have swarmed to the Futures markets, hoping to find the holy grail trading system and to get rich overnight. If you really believe there is such a thing as the holy grail trading system, then why don’t more people quit their day jobs in search of this elusive creature? Part of the… Read More »
If there’s a single theme that dominates discussions of trading psychology, it’s discipline. Traders are routinely encouraged to control their emotions, stick to their processes, keep journals, whatever. If you lapse in your trading, it’s because you’re not sufficiently disciplined. Call it the puritanical approach to trading: if you don’t stick to the straight and… Read More »
The largest academic study ever conducted on day trading shows that most traders lose money even during a bull market. Only 5% of active traders were able to earn significant profits two years in a row. Are 95% of traders dumb? Hardly. As a trading coach , I believe traders are among the intelligent and… Read More »
1) Strategy – There are so many different strategies: value, growth, momentum, short selling, etc. Find one that fits your personality and do your best to master it. The fastest way to learn is to study success. In other words, find someone who is successful at the strategy you like, and then mimic them with your… Read More »
Is it time to be aggressive? Are you sleeping today thinking how much money you’ll make tomorrow? Are you counting your profits before you’ve even sold it? Are you imagining tomorrow’s going to be another strongly trending up day? Believe me… you are not alone. Upward strong momentum following upside strong surprises releases euphoria in… Read More »
As a trader you will not be right all of the time. If you can accept your imperfection, and work within it, you will be much more successful: If you have a perfectionist mentality when trading, you are setting yourself up for failure, because it is a “given” that you will experience losses along the… Read More »