Trader Mindset

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 .

Subscribe to the show   The time is now.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   When the instruments in your portfolio are highly correlated you can make bank.   When they reverse, they will do so at the same time and you will get hit for an outsized loss.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Chasing the market is a person's inability to deal with regret.   Adding to winners is a process where you have a set of rules to add risk when it makes sense.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   When you don't have massive amounts of data on your trading, you don't know the probabilities of winning and losing.   If that's the case, the trades you put on are nothing more than a gamble.   Be careful not to place large bets on anything - earnings, Phase III clinical trials, or elections - your feelings are not facts.   Click here to get your free copy of The Inner Voi...

Subscribe to the show   Set your goals around processes that you can replicate day after day.   Setting a goal around an object is passionless and not inspiring.   It's your behavior that predicts where you end up in life.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Another good reason to have orders to add or remove risk - surprise announcements.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Sometimes markets jump for unexpected reasons.   You can have an order sitting above the market to liquidate your position if the market goes parabolic.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Looking at the chart is just the beginning.   It's not the map you think it is.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   From time to time, names you're watching will move sharply before you have a chance to add risk.   That means missed opportunities.   Names that you're already in will move against you - also before you have a chance to act and keep your losses small.   Then you're stunned and frozen and you begin the process of negotiating with yourself.   Either way, you're losing and the...

Subscribe to the show   Frustration is the appetizer to a meal called despondency.   If you are unwilling to feel the feeling of frustration regularly, you invite stronger feelings in the future.   Use regret to help you make better decisions today.   If you want to be a professional PM or trader, losses are a part of the business.   Click here to get your free copy of The Inner Voice of Trading a...

Subscribe to the show   When bad news hits the tape and the stock doesn't sell off, you have a good long trade with more room to go.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   They are related but not the same by any measurement.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   From time to time, you might find an equity that traders and investors are betting against, but they prove all the naysayers wrong.   If that stock has high % short interest, and it starts to trend higher, you have the potential to penalize the naysayers who will all have to pay you to cover.   Look for high short interest and uptrends.   Click here to get your free copy of...

Subscribe to the show   Great traders are using technical analysis to protect their capital which is job #1.   If you know your risk, the entries are not that important.   Most amateurs focus on the wrong things for several reasons.   They don't have solid goals, they are too short-sighted, and they are not friends with their feelings.   Click here to get your free copy of The Inner Voice of Tradi...

Subscribe to the show   When you're doing well, ask for more money to manage.   Ask for a free Bloomberg.   Ask for forgiveness of desk rent or fees.   Ask for a higher payout on your trading profits.   If you don't ask, they own you.   If you don't ask, it's knot going to just show up.   You have to ask for it.   Make your case and have confidence in yourself.   Click here to get your free copy o...