Skip to main content
The market demands that a trader follows all of her rules, every day, and every moment. Many just cannot thrive in this unbending universe.

TRADERS ASK: “WHY CAN’T I JUST MAKE MONEY?”

A good trader assumes the mentality that there is always an escape.

There is a wonderful movie, Red Belt, written by one of our great playwrights, David Mamet. The protagonist, Mike Terry, played by Chiwetel Ejiofor, is a mixed–martial arts instructor, and the film opens with Mike teaching his best student. This student is in a chokehold that he cannot escape. And Mike is preaching, “There is always an escape. There is no situation you could not escape from. You know the escape.” There is always an adjustment that I can make to improve my trading results for a stock. I watch my trading videos to discover what I was doing wrong, my escape. Almost always, I lose money because of my own human error. I fix my errors and move forward. When I do my trading, results immediately improve.

But to improve your results you must review your work and eliminate your mistakes.

You don’t compete by saying, “I really want to see better results.” You compete by taking the actions necessary to make your trading more profitable. The reason you are losing money is not because you are a lousy trader. That is not supported by the past five years of trading data. You are struggling because you are making human errors. Your present data is not relevant because it is blanketed with uncommon trading errors. Eliminate these mistakes and your results will mirror your previous years. Make a list of the trades that work best for you. Visualize making successful trades. Then make One Good Trade and then One Good Trade and then One Good Trade. 

Comments

Post a Comment

Popular posts from this blog

Maximizing Your Profits with Scoring

SETTING YOUR MAXIMUM INTRADAY TRADING LOSS First things first: set a max intraday trading loss. There will be days when you just do not have it. Why do you think coaches pull their players when they are not playing well? They are more harmful on the field than off. When you are underperforming, you are hurting your team and your trading business. You need a system to yank yourself over to the bench. A stop loss is your answer. TRADING BASED UPON THE TIME OF DAY A good trader makes note of what time of day it is, when he trades most profitably, and adjusts his trading to fit such times. Your numbers at the end of the month will not reflect your true trading potential. Make the most trades with the most size during the trading periods that statistically are most profitable for you. Money saved during your weaker trading periods is money earned. Consistency The fact is that most trades you make will start working for you right away. But the new traders also hold stocks that are trading ag...
Post a Comment
Read more

Where thought prevails, power may be found!

If you think you are beaten, you are; if you think you dare not you don't; If you like to win, but you think you can't, it is almost certain you won't, If you think you'll lose, you've lost, for out of the world we find success begins with a fellow's will it's all in the state of mind. If you think you are outclassed, you are - you've got to think high to rise. You've got to be sure of yourself before you can ever win a prize. Life's battle don't always go to the stronger or faster man, But soon or late the man who wins is the man who thinks he can. No one knows what hidden forces lie dormant within you. You, yourself, do not know your capacity for achievement, and you never will know until you come in contact with the particular stimulus that arouses you to greater action and extends your vision, develops your self confidence, and moves you with a deeper desire to achieve. The most important turning points of life often comes at the ...
Post a Comment
Read more

INSPIRE COOPERATIVE AND PERSONAL ACTION

There are essentially two kinds of people of action. One might be called the caretaker type and the other the promoter or salesperson type. Both types are essential in business, industry, and finance. One of them is known as a dynamo while the other is often referred to as a balance wheel. Once in a great while you find someone who is both a dynamo and a balance wheel, but such a personality combination is rare. Most successful business organizations are made up of both types. The balance-wheel type who does nothing but compile facts and figures and statistics is just as much a person of action as the one who gets on a stage and sells an idea to a thousand people by the sheer power of their active personality. To determine whether or not someone is a person of action, it is necessary to analyze both their mental and their physical habits. The world pays you for what you do and not for what you know. That statement might easily be misconstrued. What the world really pays you for ...
Post a Comment
Read more