First if you haven’t read it check out David Blair of Crosshair Trader recent post. The infographic and explanation is one the best I have seen that maps out the difference between struggling and successful traders. Welcome back. David’s post along with a conversation I had with someone who is trying to become a trader made…
Tag Archive: confidence
Do you care about sinking if you know you can swim?
Have you ever seen two people in the same situation act differently? With trading futures this is really evident. Only one side gets to make money. How a person handles sinking (losing money) will help shape what they become as a trader. The second thing that my mentor every told me was learn how to…
7 dirty words you can’t say while trading. Enjoy the weekend.
This originally appeared in January 2011. Be careful how you use the following words and phrases. Should- Phrases include: “The market should have” and “I should have”. Those phrases are often used to socialize losses. They are a strong signal something is off. They should be used to aid you in correcting your vision not…
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…
Getting out of the retail mindset.
I want to preface that my post, 3 differences between a professional trader and a home gamer, is nothing against retail traders, first I am never going to intentionally insult a client and secondly any trader is subject to shifting into either mindset. There are distinct differences between the professional mindset and a retail mindset….
Do it once.
Trading is about proving to yourself you can do things. As you get over these barriers you realize that you were holding yourself back for no reason. This will give you confidence to defeat the next one. The first step is to recognize it. This is where it is important to see outside yourself. You…
7 Dirty Words of Trading
This originally appeared in January 2011. Be careful how you use the following words and phrases. Should- Phrases include: “The market should have” and “I should have”. Those phrases are often used to socialize losses. They are a strong signal something is off. They should be used to aid you in correcting your vision not…
(Video) Jack Schwager Winning Methods of the Market Wizard
Part 1- Trade your personality, systems that do not fit the person fail, have a plan, and be dedicated. Part 2- No easy money, short term success is 50/50, good trading is effortless, and know where you are wrong. Part 3- Time frame matters, important to be confidence, losing is part of the game, and…
Email: How do I get confidence in my system?
The short answer, you cant. You cannot ever have confidence in a system alone. A trader makes the system, the system does not make the trader. A working system/good market makes everyone money, a badly working system/bad market only makes a few traders money. I think it is important to have some diversity in your…
Email: How much money do I need to start trading?
Letter from a reader. Hi Eli, I just read a few of your articles and thought I would drop you a quick email. I liked the analogy about getting through the forest as I think that is where I find myself now. I have been trading the S&P futures for about a year now on…
