Regrets are fine to have as long as you act on them. Here is a list of common regrets that traders have had over the years and if you can identify them and work to avoid them going forward you can begin to see real progress in your trading results. “I did exactly the wrong… Read More »
THE KEY TO SUCCESS The biggest secret to trading is that you need to ruthlessly exploit a few simple trading strategies to become profitable rather than understand a lot of different trading setups. I plan on sharing both with you, but making money is your responsibility. It’s important to keep the goal of making money… Read More »
In day trading, the big emotions can take over and mess up your strategy and your returns. The enemies are doubt, fear, and greed; like any bullies, they have their toadies, including anger, anxiety, boredom, and depression. Doubt: Day traders have to act fast to place their buy and sell orders. There isn’t time to… Read More »
Flexibility for the trader to move with price action is the key to successful trading. You can be rigid with your rules and risk management but you must be flexible when it comes to how the future plays out in price action for any market or stock. It is not those that predict the future… Read More »
In Continuation with Previous Post 2. Fear of Missing Out Every trend always has its doubters, but I often notice that many skeptics of a trend will slowly become converts due to the fear of missing out on profits or the pain of losses in betting against that trend. The fear of missing out can… Read More »
Merriam-Webster’s dictionary defines fear as “an unpleasant, often strong emotion caused by anticipation or awareness of danger, going on to explain that fear…implies anxiety and usually the loss of courage.” This definition of fear is useful in helping define the issues that traders face when coping with fear. The reality is that all traders feel… 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 »
Whenever I saw a Cricket playing in the field or Tennis player playing, the temptation to play like them was tremendous. If you see any Great Sportsman playing and compare yourself to them you will observe You are lacking in co-ordination, stamina, technique, strategies and above all few tricks of the game that only comes… Read More »
Most people enter trading with the idea that they are going to make a lot of money. In other words, they have high expectations. There is nothing inherently wrong with that idea. In fact, we need motivation, and making a lot of money can be a great a motivator. Unfortunately, many traders also have low… Read More »