As a trader, you are solely responsible for your day trading actions and behavior. Your day trading success depends on how you act while trading. Here are 3 problem day trading behaviors that ensure failure. Fortunately, they are all within the control of the trader and can be corrected: Problem Day Trading Behavior #1: Day Trading Without A Game Plan Traders who come into … [Read more...]
New Year New Psychology
In December, I did a multi-part presentation to my Deep Practice group on some of the things I consider key with respect to the mental side of the game. It’s not trading psychology like you might normally expect. For example, I have no interest in trying to suppress strong emotions such as fear. I know that trying to actively suppress fear, sadness, anxiety and other strong … [Read more...]
Five Steps to Day Trading Success
As most readers know, I am primarily a day trader. No one can guarantee your success in day trading. It is a tough business as you are up against the best right from the start. From my own experience as well as from many successful traders whom I have coached, here are five key steps that, when followed earnestly, put you on the right path to trading success ... Continue … [Read more...]
Trading Psychology: Are You Making Any of These 3 Trading Psychology Mistakes?
I see many traders who have strong aspirations of becoming a great trader and making lots of money fail because they blow their trading psychology. Let's take a look at 3 of the worst mistakes traders make with trading psychology, and then what to do instead. Mistake #1 - Ignoring Trading Psychology Until it is too Late: This one is really easy to do, especially since most … [Read more...]
Market Drives to New Swing High
I was anticipating a pullback in the US Stock Market this week. I had seen some weakness in the market as described in this post (click to read), but that did not materialize. Instead, the market pushed up and drove to a new swing high. Game Plan & Routine Coming into the market's US morning session yesterday, I was looking for a short opportunity. My game plan was to … [Read more...]
