Trading Losses Few traders want to talk about their trading losses. It's the number one topic many traders seek to avoid. When was the last time you heard a trader say, “I had a fantastic loss the other day. Let me tell you all about it?” No one likes to lose money and the experience can be painful both financially and emotionally, especially if the loss is a large one. It … [Read more...]
Get Inspired With Your Trading
Want to get Inspired with Your Trading? Here’s a story from outside of trading everyone will find inspirational. It’s about a cyclist setting records. Not just any cyclist and not just any record. The man is Robert Marchard, a Frenchman who was born in 1911. If you are quick with math you will know he is 105-years-old. He set the world record in his age group by … [Read more...]
Is Your Trading Mentality Invested in Fool’s Gold?
Many traders have the following trading mentality: A good trading day is a day where they win a lot of money. This seems logical. “I’ve won money and I feel really good, so, yeah, it’s a good trading day.” The good feelings that go with making money seem to tacitly confirm that the day was a good day. But this isn’t a constructive way to think. What happens on a day that … [Read more...]
Assessing the Probability of the Next Market Move: A Trading Best Practice
Trading Best Practice Trading presents many challenges. One of the greatest challenges is accepting and operating in trading’s environment of risk and uncertainty. When we do this, we are engaging in a trading best practice. Daily Life In everyday life, many things appear routine and commonplace. Our days go by generally consistent and orderly. If something unexpected … [Read more...]
Traders Have Two Minds & One Hinders Good Trading: A Trading Case Study with 4 Steps for Better Trading
This post discusses traders having two minds through a case study of a trade I made a while ago. It highlights how easily the mind can override sound decision-making. Traders Have Two Minds It is helpful to think of having two minds. One mind is our intuitive mind. It is our default decision-making mind. Our intuitive mind relies on the obvious, ignores probabilities, and … [Read more...]
