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A big ego reflects an exaggerated view of one’s abilities. We’ve often said in this column that such a mindset can be fatal for trading, where accurate and realistic perceptions of one’s ski ..

Traders are notorious for their overconfidence. They trade beyond their skill level and comfort zone and pay for it. It’s understandable, though. Who doesn’t want to win, and win big? For ..

Overconfidence is a curse for the novice trader. When people first start trading, they want to do nothing more than win. And in their quest for profits, they may take unnecessary chances and pay the p ..

Sam tells his best friend, “I want to be an expert trader. I want to be able to handle anything the markets throw at me.” This is a nice sentiment, wanting to be a trading virtuoso who can ..

How much time do you spend preparing for the trading day? Do you spend hours scouring the markets for a winning trading opportunity? Do you watch hours of commentary or read all the major financial ne ..

At Innerworth, we focus on teaching traders to cultivate their psychological edge. But some have asked us whether or not we have been overstating the importance of psychological issues. They ask, aren ..

The market seems to be going down. Is it time to think about gloom and doom? Perhaps. At least some market analysts seem to think that the masses have lost confidence in the economy, and these percept ..

It’s wise to learn from your mistakes. There’s no sense in making the same mistake twice. Despite the wisdom of this sage advice in everyday life, however, it may not work very well for tr ..

Stan’s been in a slump. He’s made very few winning trades in the past month. He’s starting to question his skills as a trader and wondering if he will ever return to profitability. H ..

It’s hard to come back when you’re down. Trading is easier when you are ahead of the game. There’s no pressure to make up losses. You feel free and creative, ready to take a risk. Bu ..