How do you view your world? Is it a fantastic place where you can become anything you want, or is it a horror movie that just won’t end? You see, our beliefs and opinions shape our world, not the other way around! People who let their environment control their outcome in life are simply giving…
Many aspiring traders enter this business with little to no idea of what is expected of them in order to profit from the markets, therefore most traders end up becoming yet another failed statistic. Here are a few things that will help keep you out of trouble and will dramatically increase your odds of sustained…
Read More “Do You Have What It Takes To Succeed In Trading?” »
I was watching the final round of the Shell Houston Open PGA tour event and saw Jordan Spieth on hole number 18 hit a really bad bunker shot that cost him a chance to continue in the playoff. He also hit a bad tee shot, followed by a bad approach shot, but during his bunker…
There are many aspiring, as well as seasoned traders out there who are trying to earn a living in the markets each day. However, the vast majority of them struggle to ever make a profit, let alone make enough money to pay the bills. Therefore, if technical charts are so simple and so easy to…
1. Successful traders have meaningful attachments or some other source of motivation and happiness outside of the financial markets. 2. Successful traders are proactive, they know what they need to learn and they know what they need to do in order to execute. Being active alone is not sufficient. 3. Successful traders tend to be…
Anytime someone looks into starting a new line of work, it’s understandable that they’d have questions about their fledgling occupation. New day traders are no different — in fact, they may ask more questions than your average barista or secretary in training. It’s hard to blame them when the world of day trading is marketed…
Read More “Common Questions New Traders Ask Early in the Game” »
Regardless of the path we choose in life, it takes time, dedication and hard work to attain our goals and aspirations. Success in trading is no different. Hard work, discipline and a solid foundation built on proper education and training is a requirement. The question is, how do we achieve discipline and a proper understanding of…
In many professions and especially in the world of sports we often talk about averages and percentages as a tool for measurement of success. Generally speaking, the higher the average or percentage, the better the result. In car sales people want a high “closing” percentage, in baseball, players strive for high batting averages, in golf…
This is an excerpt from the book Reminiscences of stock operator written by Edwin Lefèvre which is the thinly disguised biography of Jesse Lauriston Livermore.This excerpt fully summarizes the mistakes made by most traders, New market participants face this emotion everyday and each trader during his development phase goes through this at one point or…
It is often said that death and taxes are the only two things that are certain in life, but it is fair to say that failure should be added into the mix. There is not a single person in the world who has the ability or the foresight to go through life without ever taking…
