Trader Mindset

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...

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...