Creating a sound trading plan is essential for any trader who wants to be successful. Establishing and adhering to such a plan will pay long-term dividends, as it will help traders define their goals, minimize risk, and manage their emotions while trading. A successful trading plan should be highly detailed and should include risk management…
Fear is a powerful emotion that can not only be detrimental to traders but can have a large and lasting impact on their profits. Day traders essentially make decisions about buying and selling stocks on a daily basis if markets are open. To successfully make these decisions, traders must be brave, attentive, and unshaken throughout…
These Commandments of Trading Discipline are time tested bits of wisdom that will help lead any trader that implements them to trading mastery! 1) Trade free from fundamental prejudices. Hold no judgment on a stock. Don’t try to rationalize a losing position or fall in love with a winning one. A stock may have its…
Your level of confidence as a trader can have a tremendous impact on your success. The more confident you are, the less time you will spend second-guessing your decisions and the more positive energy you will focus on your desired outcome. Confidence is based on two things: what you do and who you are. When…
Many traders, both new and experienced, can become overwhelmed with anxiety when trading. It can be tempting to rush into a trade, seeking the thrill and excitement of the market. This unguided enthusiasm is similar to the feeling of visiting a casino, game room or amusement park. The euphoria of trading can be all-consuming, and…
Read More “Are You Trading For A Living or Living For A Trade” »
I’m Cliff, I run the “Coaching with Cliff” group here at Live Traders. Recently, my wife and I were looking for a movie to watch and we settled on City Slickers. As I watched, I was struck by the powerful message it conveyed about why we all sometimes find ourselves stuck in a rut. Billy…
Read More “Unlock Your Greatest Potential: Is Coaching Right for You?” »
Having a positive mindset is an essential characteristic of successful traders. While trading cannot be reduced to simply having a positive attitude, having a positive mindset is an important factor in gaining long-term success and managing difficult market conditions. In the following essay, we will discuss the importance of mindset for traders and the implications…
In my 20+ years as a trader and trader coach what I’ve learned is that trading is never easy. It’s hard when you’re losing, where it feels like nothing is going right. It’s also hard when you’re winning, where it starts to feel so natural you just let yourself slide a little, stop doing the…
Risk: To expose (someone or something valued) to danger, harm, or loss. The other day while reading through the trade reviews I came across a post of one of our team members who pointed out how his emotions had changed once he raised his risk. He realized his focus went from being process oriented to…
Give this quote some time before reading on. “Most men die at 27, we just bury them at 72.” This quote was originally from Mark Twain. I hope that you all took some time to give this quote some thought and didn’t just assume I was trying to give you a chuckle. If you give…
