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Have you ever made a dumb mistake? Perhaps you knew you should have used a protective stop before leaving for two days to take your children on a road trip. You may have thought, “I’ll sto ..

Winning traders are objective and detached from the ongoing market action. They don’t stare at their screens and allow their emotions to move up and down with how well their trades are doing. Bu ..

Seasoned traders stay detached, but novice traders often have trouble achieving this ideal, objective and rational mindset. For example, they take trading losses, and subsequent drawdowns, personally. ..

Stan’s been in a long losing streak for the past three months. He has a severe drawdown. He’s worried and a little scared. He’s been trading for two years, and during the first six m ..

Winning traders approach the markets with a detached, unemotional, and rational mindset. As much as you’ve heard us say it time and time again in this column, though, it probably doesn’t h ..

Even when you’re a short-term trader, making one quick, astute decision after the next, it’s necessary to plan carefully and act cautiously and deliberately. Consider the case of Andy, a novice tr ..

When playing a formidable opponent, it’s wise to take a defensive stance. An NFL quarterback uses shoulder pads and a helmet to make sure he has protection in case he gets sacked. The players on ..

When it comes to trading decisions, everyone has their own style. Although styles change as one gains more experience, each trader has his or her own natural style. Some people are intuitive while oth ..

Our common-sense approach to decision making often works quite well, but there are times when we arrive at decisions that are just plain wrong. This has led some psychologists, such as Amos Tversky an ..

When trading the markets, making a quick and decisive decision can be difficult. There are many sources of information to sift through, and many times, you don’t actually know if you’ve made a goo ..