Many new traders are taken out of the trading game through bad mental practices. Here are some things that top money managers have shared through interviews and books that may help traders who are making mental mistakes in their trading. Ten Powerful Psychological Traits of the Rich Trader They have the ability to admit they […]
Ten Powerful Psychological Traits of the Rich Trader Read More »
Have you ever heard of the saying “If the shoe fits wear it?” Well in trading, much like with shoe sizes, you can only trade a size that fits you. Unlike shoe sizes though you can grow into bigger money shoes over time. Reading books about trading,doing simulated
How Big Are Your Trading Shoes? Read More »
“Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius — and a lot of courage — to move in the opposite direction.” -Albert Einstein “One does not accumulate but eliminate. It is not daily increase but daily decrease. The height
Ten Ways to Simplify Your Trading Read More »
1. Identify if you really want to be a trader. Is this truly your desire? Before you can develop persistence and eventually achieve success in the tough trading game, you need to first identify if this is truly what you want to do. If you are only doing this for the money then the odds
6 Effective Ways to Persistently Pursue Trading Success Read More »
If you are just randomly trading what you like with no real underlying system, method or planning then unfortunately your odds of success in the long term are slim. Trading a winning methodology is what creates an edge in trading. Consistently trading a robust system or methodology enables you to trade in a way
A Trader’s Checklist before the Trade Read More »
Here is an excellent video put together by the linchpin of trend following Author Michael Covel covering the winning principles used by some of the world’s greatest traders. These are not theories or opinions these are the common principles used by these rich traders. This is the kind of video
25 Trading Commandments: Timeless Laws for Making Money from the Market Read More »
This is not what an up trending market looks like. Choppiness, uncertainty, leaders getting pummeled, fear running rampant over many, and government interventions to save the economy. As I write this we are looking at possibly 6 straight down days in a row for some indexes. While the $SPY
The Down trend Cometh? Read More »
Here is a simple formula for turning your trading account into a double leveraged Exchange Traded Fund. (Well not really, you will not be an ETF but you will get very close to the same returns of a 2X ETF with much less risk). Let’s say your account is $60,000 and Apple stock is trading
How to Turn Your Trading Account Into a 2X $AAPL ETF Read More »
The whole world is simply nothing more than a flow chart for capital—-legendary trader Paul Tudor Jones In my trading I am always looking for where the capital is flowing. Capital flows where it believes it can either grow or be safe depending on the economic environment. Interest rate policies
The sooner traders learn to carefully manage risk, the better off they will be. So many new traders come in with only the thoughts of profits dancing in their heads. This is equivalent to a football team only focusing on scoring points, and not planning their defense. In trading, you must play both sides
Trading: The Difference Between Playing Offense & Defense Read More »