A common way of looking at the development of any skill, including trading, is to use the psychologist Abraham Maslow’s Four Stages of Learning model. Maslow uses the matrix of
Trading is not really about prediction or being right or wrong. It is really about how much are you willing to risk to find out. It’s easy to take the
To a large extent, human nature dictates that we seek pleasure and avoid pain or discomfort. In the effort to seek pleasure and avoid discomfort, humans (and traders) can engage
The typical trader is not profitable, and I suggest that one must learn to operate differently than the typical trader. One example is how the typical trader looks at risk
It was nice to see that my recent webinar on self-confidence in trading had about 325 live attendees. I wanted to mention a few things I didn’t have time for.
Before getting into the topic at hand, I want to first say that as a discretionary trader in the ES, I try my best to not think or act like
As traders try to improve performance, the one piece of knowledge that is often overlooked, is self-knowledge. Most traders would benefit by simply focusing on doing more of what works
It’s very easy to get locked into a scenario, or an opinion of what you think the market ‘should’ do based on some economic development. This happens to all traders
Does your self-esteem rise and fall with your account equity? If so, your probably in for some difficult times ahead with your trading. For some traders, a trade is more
I came into trading back in 1995 after having worked for a few years as a psychological consultant for the U.S. Dept. of Defense and the Navy. That work involved
