Trader Mindset

Subscribe to the show   What you do for homework can tell you a lot about the role you play and the value you bring to your clients.   There is a big difference between managing risk and asset allocation.   If you intend on collecting Incentive Fees, you have to do your own homework.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   When you act decisively, you cauterize all the emotional angst that would normally come afterwards.   Think of the great feelings you'll have when you can show your client(s) how you sidestepped large drawdowns, took profits when your names reversed, and didn't do things like buy pullbacks in a weak market that kept going down.   Traders and portfolio managers have to be le...

Subscribe to the show   When you act decisively, you cauterize all the emotional angst that would normally come afterwards.   You come to the market the next day without the emotional hangover and a clear head.   That leads to another productive day.   Good leaders are decisive and traders have to be good leaders.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   When you act decisively, you cauterize all the emotional angst that would normally come afterwards.   If you don't offset losses quickly, they can become larger losses.   Which feeling do you want to feel - the power of being decisive or the feeling of regret from not having taken action sooner?   You get to choose...   Click here to get your free copy of The Inner Voice of...

Subscribe to the show   A good advisor has wisdom across many areas in life and business.    Clients will rely on those advisors for more than portfolio management.    That's a good place to be so be that advisor.    Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   If you sell your losers regularly, all your clients will see are what's left: the winners.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   You don't want clients asking you about names you don't own.   Have them set up a second account for all their great trading ideas, and don't get involved.   You'll thank me later.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Clients like to know that you have a plan.   You're not likely to anticipate everything, but it pays to have discussions with clients before major announcements.   No one likes surprises.   Being conscientious about their money will pay you and your clients big dividends.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Clients are looking at the daily swings in their account when they see big moves in the market.   You might consider having discussions with them before this happens to instruct them on what you'll do.   Big increases in vol can also signal a change in direction...   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   The ultra-wealthy already have all the money in the world.   They don't need you to double their money.   Their main concern is to "not lose."   How will you be different from the other managers they are interviewing?   It's the differences that sell, so sell them what's in this episode.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Imagine if you had to interview yourself for the job you want.   How would you grade yourself for the job you're doing?   Would you give yourself a written recommendation?   What would you write?   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Good trades make you money right away.   Use a time stop to offset risk.   Else, you might be too forgiving and acting like an Investment Advisor when you're trying to be a trader.   Fight Imposterism within yourself.   I made that word up - imposterism.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Bad spots in this context can mean trades that you have no business being in.   Been there, done that.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Doing something once is easy.   Doing it over and over is another ball of wax.   Here's one way to know if you are compatible with what you're trying to do in the markets.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Focus on having discipline and executing that discipline every day.   That produces consistency.   That's what you're competing with - the ability / inability to do the right thing every day.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   When you go long, you want momentum in your favor, not against you.   The worse thing you can do is buy a pullback to support and try to sell at resistance.   This is small-minded thinking.   Wait for the instrument to clear resistance, then buy.   There is no upper boundary to the price and prices are relative.   Click here to get your free copy of The Inner Voice of Tradi...

Subscribe to the show   When you're not settled with where you are in your trading, you can find yourself doing things that don't serve you.   That's because you want to be somewhere else as opposed to being present.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Ace Greenberg would sell any longs that were down coming into Friday's close.   Some traders offset trades in 15 minutes if they don't show a profit.   Takeaway: good trades make you money right away.   If it doesn't act accordingly.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   There are 2 traders. One has 15% returns and trader #2 generated 25%.   Who did better?   You can't just say that trader #2 has done better in this regard.   We don't know what type of risk #2 had to take on to get those returns.   We have to focus on the getting risk-adjusted returns.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Sometimes you need a pep talk or to hear the voice of reason.   Sometimes it's not easy to see the 30,000 foot view.   Sometimes you can't see where the smoke is coming from when you're standing on the fire.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   "There's nothing you can do that can't be done. Nothing you can sing that can't be sung. Nothing you can say, but you can learn how to play the game. It's easy."   -John Lennon   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Think of it like a never-ending culturing of a pearl that is your life.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   It takes many years to develop superior trading & investing instincts that you can count on.   Too many traders and money managers unknowingly exhaust themselves day after day by deeply engaging with a process that is both inefficient and based on guesswork.   A good first step to fix this: stop reading headlines for trading ideas...   Click here to get your free copy of Th...

Subscribe to the show   Like a lot of trading, preparation is a process - of elimination.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   It's an ongoing process...   Click here to get your free copy of The Inner Voice of Trading audiobook .