Trader Mindset

Subscribe to the show   Bet size determines what you make and lose.   How did you come to decide your current bet size?   You probably guessed and just chose one.   You can use Kelly Criterion to figure out the best size after hundreds / thousands of trades.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Sidestepping the large losses will do wonders for your P&L and also build enormous trust between you and your clients.   They've already lost a great deal of money on their own or with another manager.   Admit your wrong and get out.   The client will forgot your being wrong about a name over time, but they will not forget a 40% hit.   Click here to get your free copy of Th...

Subscribe to the show   Using Relative Strength for stocks and seasonality in commodities are about as far as I'll go in talking about what you can rely on.   Most others are unreliable as stand-alone indicators.   If 'price' is the input, the indicator only helps you see or confirm what you can already see in the price itself, so just use the price.   Click here to get your free copy of The Inner...

Subscribe to the show   You are programmed to behave the way you behave and that makes the results you are getting in your life predictable.   The mechanical part of that is how you allocate the funds you manage.   You can also backtest running several systems at the same time. Yes, you can do that...   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Don't worry about what it looks like.   If you keep your mouth shut, you won't have to worry about what everyone else will say when you slip and get up.   They don't slip because they don't have the b*lls to do what you do and take chances.   They also stagnate and don't grow.   Stay away from these losers.   Click here to get your free copy of The Inner Voice of Trading au...

Subscribe to the show   Just give the money away ahead of time.   At least you can steer it to a cause you care about, not a winning trader.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   This includes turning off the tv and having silence.   If you're lonely, you know what you can do...   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   When brokerage masquerades as prop trading: be careful for what you wish for.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Some traders succumb to buying services and research, or worse, chat rooms.   Traders need to be self-contained units.   All the decisions that go into a trade need to come from a goal that you set for yourself and one that you have a deep emotional connection with.   Traders are leaders and need to be decisive.   Subscription newsletters don't teach you to manage risk.   C...

Subscribe to the show   You are programmed to behave the way you behave and that makes the results you are getting in your life predictable.   In order to change that - if you are not satisfied with your results - you need to change that programming.   I've seen people that you would otherwise count out make enormous strides in their lives and attain great success because they got clear and set go...

Subscribe to the show   In order to affect the change(s) you need to make, you need to get out of your comfort zone and create new habits around that behavior.   From what I've read, creating a new habit is going to take approximately 2 months.   Take it one day at a time. Next thing you know, you'll have a week of new, more productive behavior behind you.   Of course, you need to have a plan that...

Subscribe to the show   Play your game - don't try to become someone or something else when the markets go against you.   Stick to your knitting - the market will continually morph to try to get you out of your mind so that you betray yourself.   I misspoke on the show - the Russian hockey coach who succeeded Anatoly Tarasov was Viktor Tikhonov.   Click here to get your free copy of The Inner Voic...

Subscribe to the show   You have the right to 'not' participate in the markets - that's an edge.   It's a good time to reach out to potential clients and gather assets to manage / trade.   When markets are under duress, so are the people who have substantial assets at risk.   They need help and you're just as good as the next person to provide it.   You just have to believe that you are...   Click...

Subscribe to the show   Upside movement for long-only traders and investors can induce you to buy back into a falling market.   This is your emotional system running your trading system.   Even pro traders have strong emotions, but they don't let them undermine their trading.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Metamorphosis is a part of life, but not when markets are in turmoil and you are bored.   Becoming a different trader because your main model is out of favor for the time being is a path to losing a great deal of money.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   If you jump the gun, you're satisfying an emotional issue not a financial one.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Let go of what's not working and watch your results take off.    Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Specialize one style of trading on one asset class.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   When you stick to your knitting, you make more money.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   If you have blow out losses, it could be because you are reluctant to lose smaller percentages of capital.   Sit on your hands for larger gains.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Why did you make the money you made?   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Look at where your returns are clustered. Work backwards from there...   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   You get paid to execute, but stay in your lane.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Winners rotate.   What made you money through the end of August, might not be the same names worth being in going forward.   Be careful trying to buy the same stocks or contracts after you get stopped.   Click here to get your free copy of The Inner Voice of Trading audiobook .

Subscribe to the show   Poor trading is rarely about not knowing what to do - it's in the poor execution - and that's an emotional and psychological issue.   Know thyself.   Click here to get your free copy of The Inner Voice of Trading audiobook .