Tag Archives: making money

Giving back profits and taking too much risk.

There is no profit too small you shouldn’t take it.  If the market isn’t giving you anything it is ok to peel it off.  Start again.  The best traders get in and out on the best ticks.   This is much easier to do trading multiple contracts because entry and exit risk is not asContinue Reading

Your state of mind when you take risk is as important as the risk.

I could probably write or talk about risk for days.  As a trader you have to be comfortable with risk.  This often means redefining it. Part of redefining it is knowing your state of mind when you take risk is as important as the risk.  There are times when the risk looks different because ofContinue Reading

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.Continue Reading

Getting ran over by the bull and eaten by the bear.

There were many times when I continued to sell into a ferocious rally and times when I bought breaks when the market was collapsing.  If I had the unfortunate circumstance of getting past my stuck short/long mentality and tried to buy a rally/sell a break I would undoubtedly buy the high/low or get stopped out on theContinue Reading

Being perfect is not worth the risk.

It is hard to be perfect. If you are perfect than you probably aren’t accomplishing much. Aiming for perfection in trading is exceptional risky. Psychological Risk One of the biggest problems new traders have is focusing on the wrong things. I did it, everyone does it. Being perfect is one of those things. Perfect isContinue Reading

I don’t give a f#%& if I miss a trade.

There are several things you have to get over as a trader.  They are the cost of doing business. Missing a trade is one of them. If I am fortunate enough to be in a position to miss a thousand more trades it means I am still a trader. That statement is obviously a bitContinue Reading

Being right and losing money.

I am going to rant here so turn around if you want.  To become successful in anything competitive requires you to think slightly different or do things differently or sacrifice something others are unwilling to. It is often the subtle mind shifts or behavioral changes at the right time that will catapult you to success.Continue Reading

Dealing with entry timing.

I got this question today. How do you personally get around from being “too early” or “too late” on an entry? There are a few things that have helped me get over missing a trade or “being right” and not making money. Opportunity vs profit. I thought the market owed me profits.  Now, I seeContinue Reading

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