Most traders realize that trading involves a lot of psychology. And most traders readily admit that a significant portion of their trading losses, or lack of performance, is due to
What does it mean to be objective when looking at the market? No matter how smart you are, what you see in the market (or are willing to see)
I haven’t been trading this week due to computer problems and the need to catch up with clients while I prepare to leave on a 2-week vacation early Friday morning.
How much money can I make? Many independent traders come to trading with preconceived ideas about how much money they can make (I’m sure all the ads promising you can
We seek immediate comfort and try to avoid things that may bring immediate discomfort. Understand this basic principle that guides much of our thinking and behavior. Trading involves discomfort
I’ve been in NYC this week meeting with hedge fund clients, and also did a lecture at SMB Capital. Earlier today I was in a restaurant and overheard the line
Although I don’t golf much, I’ve found that much of the mental game involved in golfing is very similar to trading. Below I’ve listed some quotes from golfing champions
I’ve been getting a lot of questions about confidence lately. There are many ways to look at confidence for a trader. Is it a belief? A feeling? A combination?
Taking a pre-defined loss is part of the business. Exiting a winning trade and watching it continue to work without you is part of the business. Missing an opportunity is
The mind is very powerful. We interpret things based on how comfortable we are, and we decide to take action based on that perceived comfort level. It reminds me of
