The Trader's Mindchat Show

"What should I do when the market is choppy?" ...this question came in from one of our viewers. The answer... If your setup isn't present, you sit and wait. Better...if a high quality version of your setup isn't present, you sit and wait. The problem with this is that it often causes FOMO. The market posts gains... Those around you share gains... All while YOU are sitting on your...

Managing trades through earnings comes down to three primary factors... 1. Personal performance 2. Current price action 3. Historical price action That's really all that's needed, and in this episode, we'll discuss why we want to keep it this simple and how to use these factors. WATCH US LIVE We stream this show LIVE Monday through Friday at 9:30 am EST on Instagram https://www.instagr...

"Accepting failure" is on the verge of becoming the latest buzzword in trading. It comes with a lot of caveats, one of which is attitude. We discuss attitudes toward failure, using failure as a crutch vs using failure as a method toward improvement, and more. WATCH US LIVE We stream this show LIVE Monday through Friday at 9:30 am EST on Instagram https://www.instagram.com/michaelglamothe...

I like to give myself multiple ways to exit trades. The best way I've found to allow trades to run and exit when they begin to sour is to sell on "Danger Signals." Selling based on danger signals can act as a timebound stop. However, unlike selling based on ATR or a moving average, selling based on danger signals allows us to measure the evidence against a trade. WATCH US LIVE We str...

Do you struggle getting beyond a certain $$ level in your account? No matter what you do, no matter how well you perform, once you hit that number your account seems to fall. The reasons could have to do with psychology and emotions, or it could just be the math is working against you. We'll aim to answer both in today's show. WATCH US LIVE We stream this show LIVE Monday through Friday at...

"In a market that may have chopped you up from Oct 2022-current day, how do you get past the dilemma of testing the waters again after possibly losing 10% over the past 6 months? I sat out until end of Oct but been chopped up now and find it difficult to pull the trigger as it hasn’t worked well over the past 6 months. Should I sit out and evaluate and get some mental health back, or keep tes...

In trading, we can be right, or we can make money. A lot of people confuse the two. Trading is not a simple math equation 2+2=4. It may seem that "you're right" but if the market things differently, being can cost you a lot. When we have patterns of behavior that cause us to consistently lose money, I call those negative patterns of behavior and today, we're going to focus on bre...

On today's show, we're going to discuss FOUR KEYS FOR PART-TIME TRADERS. These include: 1. Setting a budget for trading 2. Getting educated 3. Be in a hurry to learn and patient with success 4. As you learn, help others. Its the right thing to do AND it speeds up your own learning curve. WANT TO GET COACHED LIVE ON A FUTURE SHOW?? BOOK A TIME HERE: ⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠https://calendly.com/marawealt...

With roughly 10,000 stocks and ETFs to choose from, it's easy to see how focus can become a real challenge. To solve this problem, it helps to start with the end in mind. What kind of results are you aiming for? How active do you want to be? What kind of drawdowns are you comfortable with? Those are a few questions to begin thinking about. In this episode, not only will we dig deeper into thes...

Mark was kind enough to follow up with me regarding yesterday's live stream. What prompted the question of tightening up risk or taking smaller sizes had stemmed from a great trade that soured in a hurry... The trade was in CPRX. Many growth and momentum traders (myself included) were in CPRX in January. After a strong move up, it gapped down 11% on Jan 23 and at one point during the session,...

A question came in from one of our community members Mark Cass. He uses progressive exposure (increases size when things are working, decreases size when they're not). He starts with 1/4 positions and asked if it would make sense to start with even smaller 1/8 positions. There's several questions we can ask to help Mark come up with the answer that will be best for him. 1. What's his f...

On April 1 (can't make this stuff up) Dylan Mulvaney and Bud Light partnered up to promote the beer. This is a hot topic right now. Patrick Bet-David on the PBD Podcast shared yesterday that sales of Bud Light are down roughly 30% since. The show also talked about how this influenced the stock price and how it lost several billion in market cap the last few days. In this show, we're going...

No trading strategy works all the time. What should you do in the times when it stops working? How can you get a heads-up so you don't lose all those gains you made? We discuss all that and more on today's "Morning Coffee with Mike" WANT TO GET COACHED LIVE ON A FUTURE SHOW?? BOOK A TIME HERE :  ⁠⁠⁠⁠⁠⁠⁠⁠https://calendly.com/marawealth-mike/morning-coffee-w-mike⁠⁠⁠⁠⁠⁠⁠⁠ The show a...

Do you worry if you're "getting in at the right time"? Are you worried that there's something you haven't thought of in your trading plan? In today's live stream, we spoke about how to conquer these fears, how to avoid common mistakes, and had some open Q&A. WANT TO GET COACHED LIVE ON A FUTURE SHOW?? BOOK A TIME HERE :  ⁠⁠⁠⁠⁠⁠⁠https://calendly.com/marawealth-mike/mor...

The Trading Mindwheel Virtual Conference was tremendous! tradingmindwheel.com/lobby Huge turnout. More than 1000 people watched it live! Lots of great questions came in. We answered many of them, but it was impossible for us to get to every question during the conference. So we're going to spend the next few sessions answering those questions PLUS answering your follow-ups. Today we're ans...

It’s The Final Countdown to the Trading Mindwheel Virtual Conference! REGISTER FREE: Tradingmindwheel.com We’ve got a 10 speakers over 8hrs. It’s going to be life changing! Tuesday April 4th starting at 10am EST. Show up and we can’t wait to see you! WANT TO GET COACHED LIVE ON A FUTURE SHOW?? BOOK A TIME HERE :  ⁠⁠⁠⁠⁠⁠https://calendly.com/marawealth-mike/morning-coffee-w-mike⁠⁠⁠⁠⁠⁠ The show aims...

One of the simplest, most effective ways to know when a market is "turning bad" will be based on your system's performance. Does this require work? Yes, but likely not as much as you think. I was able to do this part-time for years, and it eventually led to forming multiple businesses and creating a new career. In this episode of "Morning Coffee w/ Mike" I share precisely h...

If I could go back in time and coach my younger self, these are the three tips I'd give myself. 1. Develop the skills for trading before putting real money to work 2. After developing the skills, start small 3. Once you're consistent, scale up GRADUAL If you want to join us on April 4th, we’re hosting the first-ever Trading Mindwheel Virtual Conference. It’s a full-day event. It’s free. Ev...

How To Avoid False Breakouts. While we can’t avoid all of them there are two big things we can do to avoid a lot of them. We talk about both on this episode and answered many questions from the audience. If you want to join us on April 4th, we’re hosting the first-ever Trading Mindwheel Virtual Conference. It’s a full-day event. It’s free. Even if you can’t make the whole thing, register so you ca...

Most beginners start out with a dollar and dream...I know this mindset all too well. It's how I started. I learned most trading lessons the hard way. My journey toward initial success took way too long. Over TEN YEARS! I don't want you or anyone else to struggle for as long as I have. That's why I wrote the Trading Mindwheel. To provide a roadmap for people who are just starting out an...

When should you BREAK your trading rules?? Some people say never. I say there’s a time for everything. We just need to know how to do it in a way that will help us. We discuss breaking rules well in this morning’s “Morning Coffee w/ Mike☕️” WANT TO GET COACHED LIVE ON A FUTURE SHOW?? BOOK A TIME HERE :  ⁠⁠https://calendly.com/marawealth-mike/morning-coffee-w-mike⁠⁠ The show aims to talk with you...

In today's "Morning Coffee w/ Mike" we've got the question, "When to trade?" "What to trade?" and "How much?" Most of us crushed it in 2020 and 2021. 2022 and 2023 have been different stories for most. How can we not only get back on track but make sure that we don't get off track again? That's what today's episode is all about. Understan...

Trading is risky. There's no doubt about that. But the truth is that anything can be considered risky if we're not prepared. So in today's "Morning Coffee w/ Mike" we'll be discussing how to prepare for the types of risky curveballs the market might throw at us. WANT TO GET COACHED LIVE ON A FUTURE SHOW?? BOOK A TIME HERE :  https://calendly.com/marawealth-mike/morning-co...

Q from follower: "I'm losing trades and feel like I'm digging myself into a hole. I'm beginning to doubt that I'll ever be successful at trading. What advice do you have for me?" I feel for this person and have been there myself. In this episode of "Morning Coffee w/ Mike" we dig into ways to break the negative mental cycle. WANT TO GET COACHED LIVE ON A FUTURE...

Psychologically, the question in the back of your mind is “what if I’m starting my strategy at the worst possible time?” This causes hesitation and prevents the longer-term strategy from being played out. We discussed potential solutions to this problem during this episode of "Morning Coffee w/ Mike" WANT TO GET COACHED LIVE ON A FUTURE SHOW?? BOOK A TIME HERE :  https://calendly.com/mar...