I realize this post is about three years too late or at least two years but I see some people making the same mistakes and it is good thing to think about any way. As a general rule, I do not talk about current market conditions because if you want to know our thoughts you can…
Tag Archive: discipline
Futures returns math and how you might be taking too much risk.
Futures is one of the last business opportunities where the good are rewarded more than the bad are punished. This is because of leverage and how much discipline is required. I was talking to trader who trades 1′s and 2′s. They were not happy with making $200 a day. First, I think it is important…
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…
What to do after having a monster day.
Lets face it we are traders for the unlimited upside, having no customers, and no employees. When you achieve that unlimited upside, what do you do? The first time The very first thing you should do is to order a check. Take the money out. Spend some on yourself. Enjoy it. You reached the next…
Healing is an important skill set for trading.
This idea originally written about in Feb 2011. How do you heal? There are going to be tough times in this business and your ability to get back up or to know when to get back up is important. Let me explain that again. Some people can come back right after a loss and still…
3 differences between a professional trader and a home gamer.
There are at least 3 differences between a professional trader and a trader who wants to be a professional. Can look past current trade. Just like every move does not mean another trend neither does every movement in the P/L. Satisfaction or disappointment comes at the end of a trading day, trading month, or never. Entry price…
You aren’t born with discipline.
Discipline is important, especially in volatile markets. Discipline is not something that you are born with it is something that has to be learned. Think about a family member or even yourself, are you discipline and they are not or vice versa? This has nothing to do with DNA. You either want it or you…
Trapped in to taking a bad trade.
I said I have never taken a bad trade. That post sparked a few conversations and the best imagery I can come up with is an animal trap. (excuse the photoshop) Every trader puts themselves in a bad position at some point. This position makes the reward look great no matter the risk. Or they…
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…
Giving yourself a chance to become a successful trader.
I was just talking to another trader who was having trouble pulling the trigger. Assuming you have taken the necessary steps; having the money to lose, having a plan, can maintain discipline, and willingness to continue education in yourself, the market, and the relationship between the two. The next step is to do it, those…
