I wanted to share a quick technique that you can use to better achieve your goals. First, keep in mind the SMART paradigm when defining your goals: Specific, Measurable, Attainable, Relevant, and Time Bound. Second, make a commitment to an accountability partner that you will achieve that goal. Third, define penalties that you will face […]
Continue reading
Can you become more successful in 2019? If you can answer yes to all these questions then I think your odds will be better. If you have additional ideas then please share them in the comments section. Plans & Preparation [ ]Have you created a list of requirements that must be met for risking your […]
Continue reading
I wanted to share a tip that may help you make progress even if you feel overwhelmed with trying to develop your first or next trading system or methodology. The tip is simply to take one concrete action, one step, each day and every day toward developing your system (or improving your trading process). Read […]
Continue reading
I think there is value in seeing each trading endeavor as a project. In this way, we can get rid of baggage that might be hamstringing our progress. The “baggage” can be both negative or positive. But, if it is not helping our trading today then we need to focus elsewhere. Stock taking. Take stock […]
Continue readingSystem Trading , Trader's Mindset
Early in my trading career, I had I think above average success developing profitable systems. But, I didn’t have enough capital to deploy them all. As such, my interest in developing new systems waned and growth stalled. This was combined, also, with a strong discretionary capability to call markets and a strong desire to use […]
Continue reading
A question I have wondered about, and I’m sure others have too, is if we have some bigger edge such as say a system that has multi-point profit target, could we simply capture that edge using a 1 tick profit? In other words, the question we want to think about is whether or not the […]
Continue readingSome traders question whether one can predict direction. I think this is the wrong question. The right question to ask is can one ever know with precision their edge? The answer to that question often determines the actual results that traders experience because most traders end up over leveraging and having poor results. The chart […]
Continue reading
I have started to think the market is a competition among not just traders but different leverage capacities. A group of traders attempt to detect a signal or edge in the market. The most professional, fastest, and largest among them rapidly arbitrage that edge away. Slower less nimble traders attempt to take advantage of the […]
Continue reading
Novice traders often confuse the differentiating factors that can make the difference in success or failure. These traders often spend too much time focusing on skills, finding the perfect system or edge, and psychology. Yes, skill is important but it is only part of what I call the triangle of trading success. The triangle consist […]
Continue reading
I use a visioning exercise where I imagine how my trading at my best might be different then it is today. I find this technique to be an extremely powerful technique. The fact is that most traders who pursue their craft with dedication and seriousness know the steps they need to take to become more […]
Continue reading