“The key is consistency and discipline,” says Richard Dennis who grew $400 into $200,000,000. “The key is consistency and discipline. I don’t think anybody winds up making money in this business because they started out lucky.” For legendary trader Richard Dennis, the importance of being consistent isn’t just theory. In 1984, on a bet, Dennis… Read More »
In Continuation with Previous Post Problems Created by Trading Loss The unfortunate part is that there is no easy fix How to Handle loss, but as a TRADER you need to get used to this. Losing sucks; as humans we don’t like it and it results in a steady stream of trading problems. The good… 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 »
When it comes to trading psychology, in order to be successful in the markets traders must master HOW TO HANDLE LOSS. Loss aversion is being unable to accept a loss once in a trade. You tell yourself you’ll get out if you lose a certain amount, but just before getting stopped out you decide to… Read More »
You want to be trading opportunity, not your mood of the moment. – Brett Steenbarger Many traders I have interacted during my training session, one of the basic reason for loss is trading on mood, Somehow trader gets a feel and he does some aggressive trade which ultimately lead to “BIG LOSSES”. So lets discuss… Read More »
Trading success does not fall into our laps, sadly. The reason is to do with our inability to recognise a few simple universal laws and follow them. Our trading psychology is dominated by our ego and this prevents us from opening up to new ideas and change our habitual thinking and our trading minds. In… Read More »
You might be treating the market like your own personal casino right now and not even know it. In fact, if you are like many people trading the market, you are probably more of a gambler than a trader. Traders who fail at making money consistently in the market have a gamblers mindset; they do… Read More »
Eric Barker has a new article (link here) on how to win every argument. The article had a point which made me think whether the same situation happens in trading. So it quoted an experiment by psychologist Drew Westen, which showed to supporters, footage of their favorite candidates completely contradicting himself. The experiment found that as… Read More »
As a trader, if you are carrying overnight position, Are you glued in front of computer screen once trading in India Market is over, continuously tracking financial news around the globe. Do you continuously track European market, US markets. Do you have Eagle Eye on SGX nifty and any move against your position increases your… Read More »
During our training sessions with students we are very specific t0 make them understand you have lost money not because of market but the main reason is Your brain doesn’t like to lose.Its all there in your subconscious mind which is responsible for profit and loss for a trader. Brain remembers everything. How you trade… Read More »