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In a deep discussion with his trading coach, Jack confides, “I win sometimes, but when I lose, I lose big.” His coach asks, “Why are you putting on big trades? Do you see a high prob ..

Are your profits down lately? Has the novelty and excitement of trading worn off? Are you looking for reasons to stay in the business? You might want to consider how much psychic income you make from ..

It is a muggy day and Skips can’t seem to do anything right. He has fumbled around all morning. He didn’t sleep well last night. He’s tired, and he is tempted to just quit for the day, drink ..

The winning trader is not beleaguered with anxiety, conflict, and indecision. The winning trader trades freely and effortlessly. Traders are similar to star athletes who perform at their best, or musi ..

Trading is a tough business. Less than 5% of those who attempt trading realize enduring success. With those odds, it’s not surprising that novice traders feel they must devote 100% of their time ..

Successful traders think in terms of probabilities.  Rather than looking at the outcome of a single trade by itself, they view it as merely one outcome among a set of outcomes.  They believe that ov ..

Winning traders look at their odds of success objectively. Decisions are best made in a cool, calm and rational manner, but research studies have demonstrated that probability estimates are often bias ..

The focus on the Olympics should remind us that it isn’t the prize that matters, but the process of how you won it. Olympic athletes practise most of their lives to perform at their best at that ..

Pride has been the downfall of many traders. Pride is a powerful emotion. We feel pride after making a significant achievement, and we are especially proud when the achievement has increased our socia ..

It’s an hour after lunch and you find yourself staring at your screens, frozen, unsure of what to do next. You feel the pressure to perform. You haven’t made a winning trade all week. The ..