Charlie Munger, the late Vice Chairman of Berkshire Hathaway and lifelong business partner of Warren Buffett, was one of the most admired minds in the history of investing. He was known not just for his financial success but also for his extraordinary ability to stay composed when others were panicking. Munger spent decades studying human […]
How to Remain Calm in Any Situation According to Charlie Munger Read More »
Fear is a defensive emotion meant to protect you from mental, monetary, or physical harm caused by the belief that a person, thing, situation, or place is dangerous or a threat. Fear is a warning sent to your nervous system to trigger your fight or flight response as a reaction to the threat. Your body
How To Be Fearless Under Pressure Read More »
The wrong trading psychology is one of the biggest things that cause people to fail in trading the financial markets. No trading system will work, no matter how good, if a trader can’t follow it with discipline and focus over a long period of time. It is emotions and ego that usually cause a trader
Top 3 Trading Psychology Lessons I Leaned In 30 Years (Emotions = Mistakes) 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:
10 Ways To Reduce Stress Read More »
“The game taught me the game. And it didn’t spare the rod while teaching.” -Jesse Livermore Trading Losses: There are two types of losses, one loss is caused by the market simply not being conducive to the profitability of your system. The other loss is due to your lack of discipline, causing your system to
5 Things That Educate Traders Read More »
This is a guest post by Francois Normandeau This is a fictional story. Tom’s diary. Year 1: I decided to become a trader. I want to get rich quickly and easily and retire next year. I always liked catamarans and maybe I can date models. Year 2: Since I decided to become a trader, I
A Traders Diary: Guest Post Read More »
Doing your best to risk no more than 1% of total trading capital per trade, should solve these five problems that traders face: If you only risk 1% of trading capital per trade, you will not experience more than a 10% draw down with 10 consecutive losses. If your trading
Solve These 5 Problems Right Now Read More »
Stay calm. Never trade position sizes that cause you increased anxiety. Stay within your comfort zone. Keep perspective. Keep in mind that one losing trade does not a failure make. If you are risking 1% of your trading capital, it should only be one of the next 100 trades. Stay comfortable. Make sure you
10 Ways To Manage Trading Stress Read More »
“Plans are plans until they aren’t. Don’t confuse trading ideas with prophecy. You don’t know the future. Unless you cause it.” -Curtis Faith This morning I went in very biased about buying Apple long, my mind was clouded with the support level of the 50 week moving average holding up
How I was Wrong but Still Made Money Today Read More »
In the markets there are many different types of traders and many motivations that drive them. Everyone has heard of different types of traders based on their trading method: Swing Traders, Day Traders, Momentum Traders, etc. But what about different types of traders based on their psychology, their purpose And motivation? Some trade for
Ten Different Types Of Traders. Which One Are You? Read More »
Lose your money,but keep your discipline. Trading is about following a method, system, or rules that give you an advantage over other market participants in the long run. There are good bets and bad bets. There are traders who follow a trading plan with discipline and others that start trading out of fear and greed
Trading: Mistakes versus Losses. 10 BIG MISTAKES Read More »
Like in the movie ‘Fight Club’ where there was a secret group of ‘fighters’ that loved what they did there is also a group of ‘traders’ in the market that love what they do so much that they win. In the markets there is a club of traders that make
If ‘FIGHT CLUB’ Was About Trading, These Would Be The RULES Read More »
If you truly are serious about being a trader then there are seven things that you will have to accept. You will have to accept that over the long term at best only 60% of your trades will be winners. It will be much less with some strategies. Accept that the key to being
7 Things Each Trader Has To Accept If They Want to Trade Read More »
“There is nothing more important than your emotional balance.” – Jesse Livermore While taking losses is always uncomfortable, Taking them based on a predetermined exit strategy takes away some of the mental pain. Cutting losses when you know you are wrong also limits the size and extent of the loss and the severe pain of
5 Keys to the Mental Game of Trading Read More »
Do you want trading success bad enough to read one hundred quality trading books? Do you want it bad enough to review charts for hours? EVERY day? Do you want it bad enough to find the right mentor to help you in your trading quest? Will you attend the right seminars if you need to?
Trading Success: How bad do you want it? Read More »
At 56, Paul Tudor Jones is a self made billionaire with a net worth of 3.3 billion and is ranked as the 336th richest person in the world, he knows exactly how to trade the biggest money for the biggest returns. One of Jones’ earliest and major successes was anticipating
Paul Tudor Jones Speaks:Are You Listening? Read More »
Traders should never underestimate the role that stress plays in trading. Most will succeed or fail based on their ability to handle stress, rather than how many winning or losing trades they have, or even how good their methods are. It is possible for a trader to win consistently and still not be able to win in
10 Tips For Managing Trading Stress Read More »
The biggest question I have received from readers is what are my thoughts on Apple? They have asked my advice on how to play Apple through earnings, my advice “Don’t” instead wait for a trend to emerge after earnings. I captured the move in Apple this year by trading
Five Reasons I Do Not Hold Through Earnings & CMG is #5 Read More »