One of the things we focus on the least when we begin to learn to trade is dealing with our emotions. This is a sad situation because dealing with emotions is probably the most important part of what we must do on a day-to-day basis. If you don’t have a sound emotional game, you won’t…
It has often been said that successful trading is almost entirely about mastering emotions, which is why so many people struggle to make it in this industry. While I generally agree with this statement, what most fail to understand is why they do what they do, and why they believe what they believe. You see,…
How do you view your world? Is it a fantastic place where you can become anything you want, or is it a horror movie that just won’t end? You see, our beliefs and opinions shape our world, not the other way around! People who let their environment control their outcome in life are simply giving…
Many aspiring traders enter this business with little to no idea of what is expected of them in order to profit from the markets, therefore most traders end up becoming yet another failed statistic. Here are a few things that will help keep you out of trouble and will dramatically increase your odds of sustained…
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I was watching the final round of the Shell Houston Open PGA tour event and saw Jordan Spieth on hole number 18 hit a really bad bunker shot that cost him a chance to continue in the playoff. He also hit a bad tee shot, followed by a bad approach shot, but during his bunker…
There are many aspiring, as well as seasoned traders out there who are trying to earn a living in the markets each day. However, the vast majority of them struggle to ever make a profit, let alone make enough money to pay the bills. Therefore, if technical charts are so simple and so easy to…
1. Successful traders have meaningful attachments or some other source of motivation and happiness outside of the financial markets. 2. Successful traders are proactive, they know what they need to learn and they know what they need to do in order to execute. Being active alone is not sufficient. 3. Successful traders tend to be…
Anytime someone looks into starting a new line of work, it’s understandable that they’d have questions about their fledgling occupation. New day traders are no different — in fact, they may ask more questions than your average barista or secretary in training. It’s hard to blame them when the world of day trading is marketed…
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Regardless of the path we choose in life, it takes time, dedication and hard work to attain our goals and aspirations. Success in trading is no different. Hard work, discipline and a solid foundation built on proper education and training is a requirement. The question is, how do we achieve discipline and a proper understanding of…
In many professions and especially in the world of sports we often talk about averages and percentages as a tool for measurement of success. Generally speaking, the higher the average or percentage, the better the result. In car sales people want a high “closing” percentage, in baseball, players strive for high batting averages, in golf…
