“I feel my success comes from my love of the markets. I am not a casual trader. It is my life. I have a passion for trading. It is not merely a hobby or even a career choice for me. There is no question that this is what I am supposed to do with my […]
Happy Trader, Rich Trader Read More »
Trading Habit #14 “Successful trading is about consistently doing the difficult thing so often that it becomes second nature.” – Richard Weissman The easy trade is usually the losing trade. When a trader feels the most comfortable entering a trade to get on board a trend it is usually close to the end. It is
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This is a Guest Post by AK of Fallible AK has been an analyst at long/short equity investment firms, global macro funds, and corporate economics departments. He co-founded Macro Ops and is the host of Fallible. Failure in trading can actually be a GOOD thing. Don’t believe me? Well you don’t have to take my word for
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This is a guest post by Glenn Drewes. His swing trading blog can be found at Greedygoblintrader.com The great and legendary trader Peter Brandt has an amazing quote: “I have no control over whether or not a trade will be profitable. My job is to enter orders. Nothing more, nothing less!” As a swing trader who
How To Get Control of Your Trading Read More »
This is a Guest Post by AK of Fallible AK has been an analyst at long/short equity investment firms, global macro funds, and corporate economics departments. He co-founded Macro Ops and is the host of Fallible. Today we’re going to answer the question, should you trust your instinct when trading? And we’re going to use Wendy Rhoades
Trust Your Intuition? – Billions Trading Lessons Read More »
This is a Guest Post by: Colibri Trader @priceinaction. This article is used here with permission and originally appeared here on ColibriTrader.com. If You Had to Stop Trading Tomorrow How Much Would You Miss It? How easy will it be to replace it? What else would you do? Will you try to replace it with another
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Here are ten trading truths you have to come to terms with and overcome to trade profitably long term. The markets change, all signals do not work in all markets. What worked in a trending market may not work in a range bound market. Bear markets and corrections will try to take back a lot
Here are the seven sins that traders commit that put them in the unprofitable purgatory of the markets. Sloth: The belief that trading is easy money new traders to be lazy and not put in the work at first to develop their own trading system and plan before trading. Work is required to learn
The 7 Deadly Trading Sins Read More »
There are two kinds of traders: 1. Those who are humble. 2. Those who are going to be humbled. In the markets competence must come before confidence or the market will give you an expensive education. No one can predict the future prices of markets the stronger the belief that you can then the harder
Why Arrogance is Expensive in the Markets Read More »
“I’ve found that the big money was never made in the buying or the selling, was made in the waiting.”– Jesse Livermore You have to wait until you have a profitable backtested system and signals before you start to trade. You have to trade price action with a historical edge or your trades are just
5 Things a Trader Has To Wait For Read More »
10 Ways To Reduce Stress: Don’t respond to negative people: You do not have to answer to people that do not understand what you are trying to do with your life. The odds are that your critics and naysayers have no idea how it will be possible for you to achieve your goals. Get exercise:
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Stop hoping and stop wishing you had magically known what to do in the past and start following your trading plan 100% in the present. The clarity of a past historical chart is 20/20 but that has nothing to do with the real time chart that abruptly stops giving you information on the far right
How To Stop Trading With Regret & Hindsight Read More »
This is a guest post from Tino @tradersreality the article originally appeared on tradersreality.com and is reposted here with permission. Make no mistake, the truth is that every new and old trader has experienced the battle of when to close a trade that was bleeding their capital. In my opinion, the difficulty in letting go of
The Battle To Close A Losing Trade… Read More »
This is a guest post from Tino @tradersreality. This article originally appeared on tradersreality.com and is reposted here with permission. As with any new aspiring trader looking into the chaotic world of Forex, they will browse the internet on “How to Trade Forex”, find a system, purchase it, use it, then probably give up on it
Focus On Your Execution, Not the Market Read More »
“Trend following is a form of technical analysis. However, it is not predictive technical analysis, but rather it is reactive technical analysis. This is key to understand.” – Michael Covel All that matters for a trader is what they are doing right now in the current moment. Their potential entry set ups, their stop losses,
Trading in the Now Read More »
The top 10 causes of big losses in trading: Too stubborn to exit when proven wrong: You just refuse to take a loss, you think a loss is not real as long as you do not exit a trade. Too much ego to take a loss: You are on the wrong side of the market
Top 10 Causes of Big Trading Losses Read More »
“If trading (or any other job or endeavor) is a source of anxiety, fear, frustration, depression, or anger, something is wrong—even if you are successful in a conventional sense.” – Jack D. Schwager Anger is an emotion that is a great tool for protecting our boundaries and safety. Anger is the internal bodyguard that allows
Angry Trader, Broke Trader Read More »
This is a guest post from Tino @tradersreality. This article originally appeared on tradersreality.com and is reposted here with permission. Be proud of your losing trades…it shows everyone that you became aware of your mistakes and took decisive action to not repeat them. Then you can be proud of your winners. #ForexTrader #daytrading — Tino@tradersreality (@Tradersreality)
How To Take Responsibility For Trading Read More »
This is a Guest Post by: Colibri Trader @priceinaction. This article is used here with permission and originally appeared here on ColibriTrader.com. I used to a run 10K every day when I was studying at the University. Since then, I have reduced a lot of my running habits due to a past injury, but I still
Running and Trading Read More »
This is a guest post from Tino @tradersreality. This article originally appeared on tradersreality.com and is reposted here with permission. This post is dedicated the those who experience changes in their life that can affect their day to day behavior. Specifically speaking, many may already have dependents or like me, awaiting the arrival of our first
How To Adapt To Surprises: When Trading Read More »