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

 Loss is painful, guilt can be devastating. Worse than losing one's dream is the knowledge that the loss was self-inflicted. Problems are solutions that have outlived their usefulness. Problems are pattern that were learned in emotional circumstances during one period of life and that now have taken an existence of their own. Many times, outdated solutions replay themselves in a variety of life situations, leaving people mindlessly repeating their mistakes in work, love, and trading. There can be no free will for people who are locked into patterns developed for past challenges. Successful traders are therapists both learn to do what comes unnaturally. The resolution to problems can be found in what people are doing when those problems are not occurring. The problem with many traders is not that they have problems, but that they are focused on their problems. It is this problem focus that prevents them from appreciating what they are doing right, that blinds them to solutions alrea...
Post a Comment
Read more

Three Choices

When we are unhappy and our Life Conditions do not match our Blueprint, we have three choices as to how we’re going to handle the challenge: First Choice: Blame The first choice people have is to assign blame, and there are three things you can blame: a) Event . There’s a story, something that happened, behind why things are the way they are. However accurate the story may be, blaming an event is convenient because it helps preserve an identity designed to shield us from our true fears: fear of failure and fear of not being loved or accepted. b) Others . “I’m in this situation because this person …” Similarly, the story may be true, but it’s convenient and gives you comfort in the moment. “There’s nothing wrong with me. It’s this other person. There’s nothing I need to change.”  c) Yourself . Most people think that this is being responsible, but blaming yourself will not make it better. There’s a difference between responsibility and beating yourself up—between “Here’s a pattern th...
Post a Comment
Read more

Wealth File #15 Rich people have their money work hard for them. Poor people work hard for their money

Working hard is important, but working hard alone will never make you rich. Rich people can spend their days playing and relaxing because they work smart. They understand and use leverage. They employ other people to work for them and their money to work for them. You do have to work hard for money. For rich people, however, this is a temporary situation. For poor people, it's permanent.. Rich people understand that "you" have to work hard until your "money" works hard enough to take your place they understand  the more your money works, the less you will have to work. To win the money game, the goal is to earn enough passive income to pay for your desired lifestyle. In short, you become financially free when your passive income exceeds your expenses. Rich people think long-term. They balance their spending on enjoyment today with investing for freedom tomorrow. Poor people think short-term. They run their lives based on immediate gratifications. To in...
Post a Comment
Read more