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Top-notch traders have unwavering discipline. Expert trader John Hayden notes, “Without discipline, you will be unable to master your ego, create empowering beliefs, have faith, and develop conf ..

James is considering whether to implement one of two trading strategies. Both strategies offer good odds of success, but James doesn’t want to make a rash decision. He wants to carefully conside ..

Do you ever make big plans for the trading day, but fall short of your expectations? Maybe during the off-hours, you decide to make a dozen trades, but when you get down to actually doing the work, yo ..

14.1 – Liquidity Risk In the previous chapter, we discussed the Franklin debt fund saga. Thanks to this episode, as investors, we now very clearly know that investing in debt fund should not be base ..

Many novice traders were successful in other professions before embarking on a trading career. Since they were successful in their previous occupational goals, they approach trading in much the same w ..

Tim tells his trading coach, “I’ve been trying to follow that old adage, ‘Trading is a profession where you should go in expecting to lose,’ but it just doesn’t help. I d ..

Trading requires that you keep your emotions under control. You can’t be extremely disappointed or fearful. Extreme emotions can be distracting. They not only drain precious psychological energy ..

Trading decisions are frequently influenced by fear, hope, greed, and regret.  But, sometimes decisions are motivated by anger.  After a losing trade, you’ve probably heard people say, “ ..

Your mind has limits. You can only attend to and process a limited amount of information. Psychologists view the mind as analogous to a computer. Long-term memory is similar to a hard disk in that an ..

Trading can be an exciting profession. It’s exciting to think of how much money you can make, and how that money can change your life. Some traders enjoy anticipating how a trade will turn out, ..