Does Addiction Play a Role in Your Trading? Addiction is coming up more and more regularly as a topic when I work with traders, so I thought it timely to write about it. I’ve included some tips that might be helpful. If you have found yourself doing wild and crazy things trading, letting caution to … More Six Steps to Combat Addiction–The Secret Enemy of the Trader
Continued from part 1. . . In part two, I cover the other three tools to help you tame trading emotions . . . Tool 5–Try this After a Losing trade Next time you have a losing trade, especially one that hurts, try this: Stop trading. Give yourself a few minutes to detach from the market, resisting … More 7 Simple Tools to Tame Trading Emotions–Part 2
These seven simple tools can help you start taking control of your trading emotions. They cover aspects from your breathing, to your body. . .from meditating to journaling, and more. Perhaps, choose your favorite, and start working with it. Tool 1–Become the “Clerk” While Trading The Clerk is the part of you who should be executing trading orders … More 7 Simple Tools to Tame Trading Emotions–Part 1
As you start your new hobby or business of being a day trader, perhaps you are filled with visions of riches, ease, freedom and the travelling lifestyle–trading from the beach in some far-away land! Before you get too tied up in the vision, check out these three habits to avoid as you get started. One–Trading real … More Three Habits to Avoid for New Traders
Whether you are a newbie to trading, or a veteran still struggling, here is a powerful, effective focus when learning to trade. Like a Surgeon in Training As you embark on the trading day, your focus should be on creating a Great Trader, not on making money. This is kind of like when a surgeon learns … More Learning to Trade—The Right Approach
Check out the show! Check out my interview on “The Other Side of Wall Street” radio show with host Ron Harrison, yesterday. It’s a great discussion on trader psychology. He is one trading teacher that really believes in the value of healthy psychology for successful trading. For more information on Ron and his classes, you can go … More Radio Show on Trading Psychology
We want to know! Traders want to know this! Different trading schools promise or estimate different answers, from 10,000 hours of screen time to a few days. There’s no shortage of opinions on the subject. A client asked the other day, in frustration, how long was it going to take him to finally get it? He’d been … More How Long Does it Take to Become a Successful Trader?
While working with a client today, a simple tool for managing oneself while trading emerged. The tool distinguishes two aspects of you as trader. I thought I would share this so it might help other traders. . . Sidenote: Let me preface this by saying that this tool assumes you have a solid trading strategy and … More Conquering Two Key Aspects of Your Trade
Where is Your Focus? As I mentioned last time, it is important to know where your focus is when trading. Are you making decisions on the fly? Is your stomach wrought in knots? Are you “winging it”? Or, do you have a clear, winning plan, that you FOLLOW? Where Should the Focus Be? It should … More Using the “Trader Focus” Tool
The Ups and Downs I was talking with a (trader) client the other day, as we discussed how good he feels in the middle of a winning trade, with green showing on the platform matrix. And, conversely how bad he feels when a trade goes against him. Can you relate? As he described these good … More Are You a Trading Junkie?
For traders, it seems there is a continual search for how to trade better, how to find the instruments that will make the trading successful. Some call it the search for the Holy Grail. But, has anyone found it? The Holy Grail My conclusion from my own experience and that of other traders, is that the holy … More How Important Is Psychology to Your Trading Success?
Do You Need to Trade? Do you find yourself needing to be in a trade? As long as you are in front of the charts, is it hard to stay out of the market? (I know some of you have a hard time pulling the trigger to get into a trade. I am not talking … More Resisting the Pressure to Trade
How Do You Use the Simulator? Do you trade on a simulator? If so, what do you use it for? Are you practicing learning a trading platform? Are you perfecting strategies and testing them? Are you going wild to see how much $ you can make in this “safe” environment? I got to thinking about … More Keeping the Simulator Pristine
Welcome to the Enlightened Traders blog! I have created this blog to assist you with the “inner game” of trading (the psychology). Through posts, questions, and stories, you can learn about your psychology, mindset, and beliefs affecting your trading. Enlightenment, a key to trading success It seems in the trading world of seminars, books, classes, and other … More Welcome!