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 »
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 »
People will go to great lengths attempting to avoid discomfort. And as traders, much of what we do is in response to being uncomfortable. This is an extremely critical concept to understand and explains many trading problems and mistakes. The problem is not in being uncomfortable per se, the real problem is that our efforts… Read More »
Can trading be considered for a living…as a profession..as a major source of income..? It is a definite yes. But then, Can you derive your major source of income as a professional sportsperson..? Yes, but you need to put in a tremendous amount of time, discipline, hard work and above all a lot of patience.… Read More »
Source One of the most basic of human instincts is to avoid pain and to seek comfort. This makes sense. No one wants to experience pain; we prefer pleasure and comfort. In trading, however, pursuing what’s comfortable is frequently not a good idea. Trading for Comfort There are many examples of trading decisions that are… Read More »
I have an opportunity to Interact with lot of trades as part of my blog and my training classes which has been a great learning experience for me over the years. I’ve witnessed most of new traders falls in 2 category Traders want ready made tips and advisory services Traders focused on developing a “… Read More »
Trading and Masterful Inactivity Learning to be masterfully inactive doesn’t come easily, but it pays. The master himself said: “The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money every day, as though they were… Read More »
There is no such thing as a “perfect trader.” Making mistakes in trading is inevitable. How you handle the mistakes is what separates successful traders from unsuccessful traders. There is nothing wrong with making mistakes, as long as you learn from them. The problem comes in when you start to repeat mistakes over and over… Read More »
Livermore’s views on hope and fear lie at the heart of successful trading. He describes how traders fail when they allow hope of recovery to prevent them cutting their losses and fear of losing a small profit to make them sell prematurely, when more profit would have been available if only they had the nerve… Read More »