Here are ten things I believe are needed to be a great trader. It will surprise some that predicting, stubbornness, reading a balance sheet, or stock picking is not on here. It is all a game of risk management, mind, and a robust system. Everything else is just noise. Passion for trading, only passion can… Read More »
Intraday trading should be done without any ego.One should follow the trading system to make decisions and not anticipate the market to perform as per personal expectations.Market does not listen to anyone its a WILD ELEPHANT. Flexibility and discipline are key for a successful trader.Be flexible in changing position and discipline in taking profits… Read More »
There’s an interesting thing that happens in our lives when we decide on goals. We feel crisper and sharper. Our senses are honed. We begin to measure the world by a different barometer. Most of us are accustomed to mundane goals and how to measure them: Lose weight; get on a scale. Save for a… Read More »
You might have heard the saying “The Trend Is Your Friend” and that you should “Trade The Trend.” But sometimes this is easier said than done. In this article I will show you an easy easy to identify and trade the trend. How To Identify A Trend Way back in the 90s I used fundamental… Read More »
Will Your Trading Strategy Stop Working If You Tell Other Traders About It? If you browse around trading forums or listen to traders talk you will eventually hear that traders fear that their profitable trading strategy stop working if they talk with too many other traders about it. But do you really have to fear… Read More »
One of the best ways of understanding your trading–and your trading psychology–is to collect data on your trading. There are many metrics available for understanding your trading patterns (see the links below), but here are a few unusual metrics that I’ve found to be especially illuminating: 1) P/L for Your Largest Trades – When you’re… Read More »
The most profitable trading strategies are innovative. You cannot merely follow the crowd or think conventionally if you plan to make profits in market after market. You have to sift through information on your own, and in the end, you must trust your instincts and go your own way. It takes courage, willingness to take… Read More »
Any quick drive through Las Vegas makes it pretty clear who is rolling in the money – the Casinos! Why do gamblers keep going back despite losing most of the time? Misplaced hope, fantasies about the big win, promising themselves they will walk away when they are up and still winning, and probably the inability… Read More »
In Continuation with previous post Screen-time won’t help you You will often read that traders have collected so much screen-time over the years that success has to be around the corner. Think of it this way: You have probably watched hundreds of top movies and TV-Series, but you are neither a professional director nor… Read More »
When you listen to traders talking they throw around technical terms and sound really smart: VIX, implied volatility, DJIA Fractal match, XLV Call Ratio Spread, Adverse Excursion, intermarket analysis, Asset Swapped Convertible Option Transaction, Risk-Adjusted Return On Capital… But when it comes to actual trading, traders don’t walk their talk. Even worse, it seems that… Read More »