The right mindset Your have to be able to manage your emotions. You have to have faith in your ability to trade your plan with discipline. You have to do enough homework that you will have faith in your system and your prospects of being profitable. You must manage your stress so you don’t make […]
The 12 Requirements for Profitable Trading Read More »
Traders that are emotionally calm and cool that approach trading as a business, have greater odds of profitability than the thrill seekers and gamblers that come to the market. One third of trading is based on logic, and two thirds is based on emotions. Here are 10 things that a trader has to overcome to
Calm Trader, Rich Trader Read More »
If you have ever had a Big Mac (and is there anyone who hasn’t had a Big Mac?), you know that what sets it apart from other fast food hamburgers is something called Special Sauce. Surrounded by controversy, people have been trying to figure out exactly what was in this magical sauce for decades. As
The Stock Market Special Sauce Read More »
Last week, I wrote about the mental aspects of stock market success, and outlined the four areas that I thought were most critical: Positive Outlook Foundational Relationships Stress Management Emotional Control I discussed the power of positive thinking, and how it can attract good things and good people into your life. This week, we’ll look
Stock Market Success: It Takes a Village Read More »
No matter the kind of trader, or their level of success, everyone gets up in the morning and puts their pants on one leg at a time. They read the same news, have access to the same strategies, and trade the same stocks. So what makes one trader more successful than another? What gives
Stock Market Success: It is All in Your Mind Read More »
The Boy Scouts have been instrumental in the personal growth of millions of young people in the United States. One of the reasons for their success is that they stand for something, and they faithfully practice what they believe. We all know “Always be prepared”, and that’s surely good advice. But they also follow something
Trade Like a Boy Scout Read More »
Trading can be one of the most frustrating things many people will ever do. It is very counter-intuitive. At times, trends seem to go farther than anyone thought possible, and at other times, the market fails to trend at all. When the market seems to be ready to plunge, it rallies unexpectedly. When a stock
Why Trading Seems So Damn Hard Read More »
Gazelles are a an antelope species, and as such, are nimble creatures. They are also susceptible to being easily spooked, and may end up running with the wrong crowd. These traits alone would make them horrible traders, but there are things that a skittish trader can learn from this fleet-footed creatures. Being nervous is not
Why Gazelles Can’t Trade Read More »
Let’s face it. There are a lot of things you can do with your life, and most of them are easier than trading every day, especially in this market environment. But there are real advantages to devoting your time to the science of trading. If given the proper attention and nourishment, a trading career can
12 Reasons Why Trading is Worth It Read More »
Traders hear the terms “buy fear and sell greed” over and over again. However, these sayings are meaningless outside the context of specific price action. Here is some context: Fear is not a buy signal. Fear can set up a dip buying signal with a good risk/reward ratio, or a short side trade out of
Emotions Are Not Trading Signals Read More »