Trading Psychology Potholes Trading presents a lot of psychological challenges. We easily fall into thinking traps and can be run rough-shod by our emotions. Developing awareness of the common trading psychology potholes helps every trader not only negotiate these challenges, but become better traders. Here are five trading psychology potholes and some guidance on how to … [Read more...]
Accept Your Trading Losses, Be A Better Trader
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...]
