Trader Mindset

Subscribe to the show   You have to write out what you think your instincts are telling you by hand.   A short list is better than a long memory, and it helps you be honest with yourself and have integrity with the process.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   The price is a beacon for you to enter your orders to manage risk.   Prices are not absolute, they are relative.   If you get stopped out trying to protect your capital, you can always get back in at higher prices.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Winners rotate - what made you money last week, month, or last year, might not be what carries the day in 2021.   Use protective stops to capture as much of your unrealized gains as possible.   "You cannot step in the same river twice" is a quote from Heraclitus.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   You will also hit your trading goals faster if you know what you're doing it for.   Having personal goals outside of your trading goals will help you get the best of both worlds.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   If you are having trouble letting go of the emotional need (it's not financial) of letting go of price targets, you might consider thinking in terms of "price ranges" as you segue to not having any price targets and letting the market tell you when the move is over.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   There are no intellectuals solutions to your emotional problems around managing risk.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Just because a name moved 35%, for example, doesn't mean you've missed the move.   Oftentimes they can continue to move many multiples beyond that - like 10x-type moves.   Don't let relative price movements stop you from making smart financial decisions.   Hint: they might not feel good when you make them.   Click here to get your free copy of The Inner Voice of Trading aud...

Subscribe to the show   How do you make money arguing with people on Twitter or Stocktwits?   Focus on the things that impact your P&L.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   You are competing with yourself.   There's nothing else that matters.   There's no one else that matters.   Do what's best for you.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   The goals you set for yourself outside of your trading can add AND detract from your trading success.   Be mindful of everything you do.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   It might take a few months to figure out what the best process for you to follow actually is.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Traders trade. That's it.   There isn't anything that you need to beef up your credibility.   Just start managing the risk.   What you learn from the doing will provide you with all you need.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   The investment advisor world does not typically train individuals to make their clients money.   Naturally, learning how to read charts is something they have to endeavor on their own.   Here's one way to begin to understand what's going on behind the OHLC bars or candles.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   There seems to be a natural order of things that risk managers need to endure to find their game.   Those include security selection, position sizing, entries, and exits.   For most, this is time consuming - and that can be frustrating in and of itself.   I have found that there is one overarching thing that can help expedite the process.   On some level it has nothing to d...

Subscribe to the show   If you take profits, delete the name from your screen.   These aren't lovers - you can't fall in love with former flames.   The last thing you want to do is start looking at 5-minute bars after exiting a winner.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Adjusting your stops to take profits is an art and science and it ties directly into your tolerance for risk.   How much of your current unrealized gains are you willing to risk in order to stay in a trending instrument?   This topic is at the top of the list in trading psychology.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   It might not be great for your personal relationships, but there might be a benefit to keeping your risk on a 2-inch leash.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   It's wise to adjust your stops several times per day if necessary.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Mastery is achieved over time.   The most important thing is to know yourself - which is a never-ending assignment.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Determining what consistency means to you and for you based on what you have to live through and perform.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   One way to understand the difference between creating gains versus creating alpha is the time frame.   And creating net gains over time and benchmarking them versus the S&P requires one thing from you in terms of behavior.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   You'll never be as emotionally connected to someone else's work as you will your own.   Do you own homework - it gives you ownership and better connects you to hitting your goals.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   There are several levels of trust to consider and they all have to align.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   You might be shooting for 50% RoR, but that comes with the potential for a 25% drawdown.   Your clients might not want either...   Make sure you communicate what you're endeavoring with your clients and be on the same page.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   It's very difficult to backtest chart by reading charts going back 20 years.   A trading simulator that runs at the portfolio level is your best bet.   Click here to get your free copy of The Inner Voice of Trading audiobook .