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…
Tag Archive: belief
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…
Signs confirmation bias is becoming a problem.
As a reminder confirmation bias is the tendency to like or seek out information that confirms what you believe. The reason confirmation bias is so dangerous in trading is that it can cause you to lose twice. By the time price or loss has proven your belief as wrong, it may force your belief into the other…
There are only three types of traders.
There are only three types of traders, they are defined by how well they execute their trading plan (rules applied to strategy). A trader that performs worst than their trading plan. These traders often have a weak understanding and belief in their trading plan. How they feel is more or as important as making money….
Thoughts for a Sunday.
If you don’t have the creativity and flexibility of at least two scenarios than you can’t be a successful trader over the long term. Trading is the ability to see things in terms of another. What is the chart saying and how long before it gets its point across. A chart is art. It is an expression…
