Today, as I look past the fireworks and cook outs and think about what this July 4th holiday in America is really all about: independence for the United States from Great Britain. The colonies sought independence from taxation without representation, independence from a King, and freedom for the states to profit from its own labors […]
10 Things that Great Traders have Declared Independence From Read More »
40 steps in the trader’s journey from new trader to rich trader: We accumulate information. We learn by buying books, asking questions, going to seminars and researching what really works in trading. We begin to trade with our new-found knowledge. We make profits only to give it back very quickly, realizing that we may need
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In this video Ed Seykota’s disciple Michael Martin interviews the best selling author of the Market Wizard series of trading books, Jack Schwager. Considered by many the greatest trading books ever written. In Schwager’s newest book “Hedge Fund Market Wizards” he interviews the greatest hedge fund managers in the
Market Wizards Author Jack Schwager’s New Interview Read More »
The hardest thing about trading is not the math, the method, or picking the right stock, currency, commodity, or futures contract. The most difficult thing about trading is dealing with the emotions that arise with trading itself. From the stress of actually entering a trade, to the fear of losing the paper profits that you
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Trading in the stock market is like being in a Monopoly game. If there are ten people playing, one person is likely to take everyone else’s money. Trading functions much the same way, with 10% of traders becoming profitable, while the other 90% lose or break even. After studying successful traders from the books by
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After the hundreds of trading books I have read and spending thirteen years actively managing my accounts I still consider Jack Schwagers Market Wizards Series the best of the best. Why? His trading books are not based on theories, opinions, predictions, or beliefs, he goes down a completely different path.
Interviews with the Trading gods. Read More »
Trading is not a path to easy money, only about 10% of traders are profitable in the long term and I assure you that you will be playing against professionals and they know how to win. No one goes up to Michael Jordan and asks him how they can make
The PATH to Trading Profits Read More »
I firmly believe that what truly separates the 10% of winning traders from the 90% that lose is the trader’s mindset. The vast majority of traders think they want to trade until the losses hit them and they can’t handle it and end up quitting entirely. I believe these ten principles separate the quitters from
How Winning Traders Rebound, make a Come Back, and Never Quit Read More »
They pursue realistic goals as their returns. They take decisive and immediate action when their buy or sell signal is hit. They focus on winning trades and not quantity of trades. They make logical, informed trading decisions within their system, based on the probabilities. They avoid the trap of trying to make perfect trades, and
13 Things Successful Traders Do Differently Read More »
One thing that trips up new traders is that they are surprised at the emotions that flood into them when they begin the process of trading with real money. Their ego engages and they do not want to be wrong and they sure don’t want to lose money. The negative downward emotional spiral takes down
The 7 Key Emotions of the Winning Trader Read More »