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A common complaint of novice traders is that they can’t stick with their trading plan. They wonder why, and after they think about it long enough, they come up with fanciful explanations. For ex ..

Don’t overestimate the amount of information your mind is capable of processing.  Over the past 40 years, cognitive psychologists have shown that the mind has limits, and you should be aware of the ..

What are your worst losing trades? Do they haunt you? It may be difficult at times, but it is often necessary to forget about the past and think only of tomorrow. Sure, it is important to learn from y ..

Jack can’t seem to force himself to make a trade. He is just too afraid. He is afraid to lose. He wants certainty but the kind of reassurance he is seeking just can’t be found when trading ..

Losses and setbacks are a fact of life. It is necessary to experience setbacks and recover from them in order to achieve success. The trader who has never experienced a severe drawdown, or blown out h ..

Sam started trading almost three months ago. He’s read that it’s important to set specific goals and try to reach them. He thinks, “I’ve got to set my expectations high, otherw ..

Setting well-defined goals are essential for achieving high levels of performance. Specific goals are the best. They allow for direct feedback. You know exactly where you stand. It may not always be a ..

Trading is one of the most unpredictable and chaotic professions that one can pursue. This disarray and chaos produce stress. If you don’t take appropriate precautions, for example, you can look ..

Jimmy complains to his best friend, “It’s impossible to trade the markets profitably. They are rigged. I don’t have enough capital. The markets are so volatile that I can’t get in and out to t ..

If you’re an eternal optimist, you hate bad news. But the bad news is relative. What is bad news to some is mere information, and possibly good news, to others. (For example, if you were going l ..