Trading Loss Surviving a trading loss. No one likes them. Many try hard to avoid them. Some sweep them under the rug when they happen. No matter how you respond to trading losses, one thing is absolutely clear: You will have trading losses. Trading losses are a part of the game. They cannot be avoided. So, if this is true, wouldn't it be a good idea to have a strategy … [Read more...]
Trading Mental Blind Spots
Trading Mental Blind Spots Mental blind spots in trading cause a lot of trading errors. Thinking errors--cognitive biases and heuristics--are part of the problem. Notably, emotions don't figure strongly in mental blind spots. Many traders focus on disruptive emotions like fear, greed and hope, but ignore the very common thinking patterns that disrupt trading. Recently, … [Read more...]
Dr Gary Interviewed on Market Wrap
Dr Gary Interview Earlier this week, I was interviewed by the nationally syndicated Market Wrap radio host, Moe Ansari. We discussed my new book, Trade Mindfully, and the psychology of trading. Moe has been covering the markets on Market Wrap for 25 years. He had some insightful questions he asked me regrading trading psychology. You can hear my interview by clicking on … [Read more...]
Trading a Wyckoff Spring
The Wyckoff Spring is difficult to trade when the market is falling like it did today," wrote one trader in an email after the close. He asked, “How do you do it?” The Wyckoff Spring is one of my “bread & butter” trades. I look for them all the time. In the few markets I trade, I know there will be at least 2-3 Wyckoff Springs setting up each week in each market. It’s a … [Read more...]
When You Fail to Follow Your Trading Process
Fail To Follow Your Trading Process and Degrade Your Trading Edge Here’s what can happen when you don’t follow your trading process. As all traders should understand, trading is largely a game of probabilities. To be successful in any game of probabilities (think, casinos), you have to follow a process. It is by following your trading process, for example, that you take the … [Read more...]
