No wonder it is so hard for most traders to take losses. Look at how they treat themselves afterwards! What do most traders do? They make themselves wrong for not getting out earlier, for not following their rules, they put themselves down that they don’t have what it takes etc etc etc. I am sure most …
Category: Trading Performance and Psychology
Dec 07
Jesse Livermore on Emotional Control
Later in his life he (Jesse Livermore) was asked an important question by his sons, Paul and Jesse, Jr.: “Dad, why are you so good in the market and other people lose all their money?” He said, “Well, boys, I have also lost money, but each time I lost, I tried to learn why I …
Nov 26
How to chase blowout trades away
Hello Traders, This video clip is from a documentary Redesign my Brain by Todd Sampson, it so perfectly describes what the difference is between traders who don’t deal with their losses and traders who tackle losing trades head on. It shows like in trading, the more you are afraid of the pain and you run …
Jul 10
Smart Investor Interview
Jeremy Chunn from the Australian Financial Review interviewed me for his Trading Psychology column in the AFR Smart Investor Magazine. We discussed why traders first need to learn to lose in order to win. You can read the article here: http://www.afrsmartinvestor.com.au/p/market-intelligence/why_you_need_to_learn_how_to_lose_wajn4RfE5zU6AM84hRTOeI
Jul 01
Do It Now!
You have to cut your losses immediately. The longer you wait the harder it gets. It is like going to the dentist, the more you try to avoid doing what needs to be done, the worse it gets and you might lose a tooth that could have been saved if you hadn’t trying to avoid …
