The closing bell rings. You turn off your screens, reflect briefly on the trading day, and you’re off to relax. But wait. Have you ever wondered what the top traders are doing? You know, the ones making consistent 6 and 7 figures. Well, I’ll tell you what they’re doing. They’re taking a brief rest, because … Read More …
It’s not always about the big things. We do so many complex and painstaking things to work on our trading, but sometimes it’s the subtle changes that can make a big difference to our bottom-line. And what’s more subtle and seemingly innocent than having expectations? As traders- and human beings for that matter- it’s very … Read More …
It’s easy when things are working out. Easy to be positive. Easy to think correctly. Easy to stick to the plan and be disciplined. But sooner or later you’ll face adversity. And that’s when you’re going to have your real test. How you react to adversity is the only thing that really matters. The time … Read More …
A lot of traders think that they think in probabilities. But just because you think about odds and reward-to-risk doesn’t mean that you actually think in probabilities. One of the best quotes I’ve ever read on the subject comes from poker pro Annie Duke: To be a great poker player you have to have what … Read More …
No subject is more misunderstood than that of trading risk. I see so many varying opinions, and a lot of traders have major misconceptions about it. This is partially brought about by financial industry professionals and academia. I won’t get started on the value (or lack thereof) of most formal education, but I will say … Read More …
It is a constant and exhilarating journey knowing each day I will be put to a test, a subtle, almost intangible challenge of calm and control, focus and consistency, awareness and optimism. Each day I continue to commit myself to learning more about these skills of concentration, attitude, managing pressure, staying motivated, monitoring energy levels, … Read More …
More success in trading. We all want it, and we’re often willing to try anything to achieve it. But sometimes the simplest things are what will make the biggest difference. And there is no more simplicity than what can be found in universal truths. So here is one universal truth that can bring you more … Read More …
Sometimes it takes a tragedy to wake us up. We pause for a second and become aware of our mortality. What if we’re not around tomorrow? Have we really fulfilled our potential? Have we made the most of the time we have? As Hurricane Sandy inflicts damage on the East Coast and lives are lost, … Read More …
So many traders talk about wanting to make it. But how many really do what it takes? How many have relentless work ethic? How many study the markets and their results endlessly until they build the required skills? Sadly, most just talk the talk. They like the IDEA of trading, but they don’t like what … Read More …
In our most recent post I discussed how to use your thinking to stop struggling. A very perceptive blog reader by the name of Ryan commented on that post and had these valuable insights: I’m going to be a bit of a contrarian and challenge your premises that the complete removal of ‘struggle’ from the equation … Read More …
