“A trader is the weakest link of any trading system” (Alexander Elder) During one of my trading Seminar a student asked the following “After 4 years of winning and losing hundreds of trades and blowing out several accounts both demo and live, trying different systems, experimenting with many strategies, I am still unable to achieve… Read More »
In Continuation with Previous Article Internal confidence, on the other hand, is not based on the outcome of your trading results. Internal confidence is process based. It comes from three things you have complete control over: 1. Knowledge you acquire, 2. Skills you develop, 3. Ability to apply your knowledge and skills in the market.… Read More »
During my Training Session I was having a discussion with one of my Students on his trade he has been doing over last 6 months and try to find the reason for his Losses. One Thing which strikes me was for all profitable trade he said I was Disciplined I had an excellent strategy My… Read More »
How could an experienced trader lose his entire fortune? Why didn’t Jesse Livermore follow his own trading rules? – rules that should quickly have closed his losing positions. In 1917, with great foresight, Jesse Livermore had bought $800,000 worth of annuities. His objective was to ensure his family had an income in case he lost… Read More »
During my interaction with traders during my trading course,I came to know most of traders who loose money will keep changing their trading system the day it give them a loss. Till its milking money traders stick to it, but if 2-3 trades goes wrong they will keep the trading system on back burner and… Read More »
Knowing why you are in the trading You can start by asking yourself: Why are you in the trading ? What was your initial attraction to trading? Are you thinking about it as a business or a hobby? Are you passionate about your trading? Does trading feel like a lot of work? What are your… Read More »
Once upon a time there was a guru. He was a truly enlightened soul and his reputation of wisdom and knowledge made him renowned where ever he went. There was a king who was very spiritually inclined and hearing of this guru’s reputation knew that he wanted to be a disciple of this great man.… Read More »
THE BEGINNERS LUCK SUCKER PUNCH In Gambling, this thing is called Beginner’s Luck. More often than not the first gamble makes you money. Gamble of any kind. I tried Horse Racing too. It applies everywhere. Why does that happen ? Why does God hate his children ? I think God has a lot of work… Read More »
Only six percent of the people who attempt to become professional traders actually succeed. Why do most fail? Lack of passion When people come into the world of trading many think that they only need to learn a strategy and follow the rules of that strategy. And, there are some people who actually do this… Read More »
Mental discipline is a finite resource, much like a muscle, that becomes exhausted with use.Mental Discipline is required for focus, concentration, and self‐control it can become easily depleted. As Mental Discipline becomes eroded, we become vulnerable to emotion‐driven decisions and the erratic trading behavior that follows. we can become more susceptible to the trading errors.… Read More »