The benefit of trading and life is that the same lessons can be applied to each other. Truths about life can be slightly shifted to relate to trading and vice versa. You are constantly needing those lessons. I was just talking to another trader who was having trouble pulling the trigger. Assuming you have taken…
Monthly Archives: October 2011
When your objectivity leaves, you should too.
When you can no longer see the other side of the trade you have begun to lose. Maybe not money but your greatest asset as a trader, flexibility and adaptibility, is gone. Nothing is scarier in my life or as trader is when I have it all figured out. It means I am setting up…
Famous quotes adapted to trading.
This post updated from early 2011. Here are some famous quotes adapted to trading. There are many things that are true about life that are also true about trading. Enjoy, add your own in the comment section. A man should look for what is, and not for what he thinks should be. Albert Einstein A…
Sabotaging your trading success.
If you have been trading for any length of time you will have to overcome self sabotage. The time when you give some money back for the sake of giving it back. There are a few types. Winners guilt and need to build sabotage. Winners guilt. Trading for a living is not an easy task. When…
The hidden losses.
Hidden losses occur when you do not get out on the best tick. It is impossible to always get out on the best tick and even harder if you are not trading multiple contracts. Not saying everyone should trade multiple contracts, it could also be that your trading plan does not allow it. But I…
Getting what you think about and what if your target is hit.
There are many thoughts that pop into your head throughout the trading day. Some are good and some are bad. One thing to remember is that they are all helpful and provide insight to your internal barometer. You get what you think about. If you are always thinking about not losing you are going to have…
Thoughts on trading plans.
When I speak about the need for a trading plan it is not because I got it right the first time. I did not have a plan I just did it. I was told I needed a plan but at that point in my life I was always the exception. I lost time and money…
Every trader must believe in God.
Ok, not God but you have to have a believe in something you can’t always see, profits and progress. This is a big problem I see with traders. Either they are new to trading or they have gotten beat up in the past. They do not know what hard work is or how to not…
Resting orders, trading plans, and intuition/fear signal crossing.
Originally appeared November 2010 I have had a nice email exchange over the past week. Originally we had talked about pulling the trigger, I asked him to send me his trading plan. In addition he asked me my opinion on resting orders. A plan is only as effective as your ability to accept the consequences…
Anatomy of bad market commentary via a tweet.
Trading is personal. Your DNA plays a part in your trading. I do not think you can tell someone how to trade or grieve without learning something about them (trade not grieve). With that being said there are thoughts and mindsets that make trading hard. I do not remember the exact tweet or who said it…
