Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
02/21/2008
"Follow-Through" -- It's Significance for Your Market Position
Patience is a virtue in most endeavors in life, and it's certainly a valuable asset in futures and stock trading. You will many times hear me use the important term, "follow-through," when I discuss significant market moves such as price breakouts or trend changes.
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
01/16/2008
How to Handle a Losing Streak
Don't overtrade. If you are trading several markets and not having any success, cut back to trading one or two markets. You can follow fewer trades more closely and document your success or failures more easily. Plus, your trading account won't be drawn down so quickly.
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
12/21/2007
Getting What You Really Want
I used to do an exercise in the Peak Performance 101 workshop entitled "Getting What You Want". The exercise starts out with a question: If you could have anything in the universe, what would it be? Perhaps your answer might be $10 million dollars. However, the exercise doesn't end there....
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
12/17/2007
A Healthy Psychological Profile is Needed for Successful Trading
Many mental health professionals define an "uncertain" condition as being stressful. Uncertainty occurs because of too much information or because of too little capacity. The very fact that we cannot deal with available information is stressful.
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
10/19/2007
Self-Sabotage Revealed
In my peak performance training with traders, I give a strong psychological slant to the concept of self-sabotage. Self-sabotage typically occurs when one lacks the discipline to act in one's own best interest. For example, when you have dessert, knowing it's taboo because you are trying get healthy, you might...
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
09/21/2007
Hank Pruden on "Behavioral Finance" and Technical Analysis
Hank Pruden’s theory of "Behavioral Finance" proposes that human flaws are consistent, measurable and predictable, and being aware of and utilizing this phenomenon can benefit a trader. "For the better part of 30 years, the discipline of finance has been under the thrall of the random walk\cum efficient market hypothesis....
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
08/31/2007
Make An Honest Self Appraisal
If you are willing to accept total responsibility for your investment results, you will realize that you are the most important factor in your trading or investment success. If you have done that, you are way ahead of the crowd.
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
08/24/2007
Behavioral Patterns That Sabotage Traders - Part I
Although I do not maintain a private practice of counseling/coaching for traders, it is perhaps inevitable that traders would contact me for assistance after reading my book on The Psychology of Trading. Once in a while I take on a project of working with a group of traders because of...
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
07/20/2007
Enjoy Bumping Into Walls
If you're in the market, one of biggest obstacles you'll face is the wall of losses. It's fairly difficult dealing with the markets if you are not willing to lose. It's almost impossible. It's like wanting to be alive, but always wanting to breathe in and not willing to breathe...
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
07/13/2007
Van Tharp Back-To-Basics Series
People get exactly what they want out of the markets. Most people are afraid of success or failure. As a result, they tend to resist change and continue to follow their natural biases and lose in the markets. When you get rid of the fear, you tend to get rid...
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
07/06/2007
Know When to Fold 'Em
One of the advantages we have as traders is that we do not have to trade. And it costs nothing to not trade. So the common solution is to only take a position in outstanding trades. And these are usually either trades that are moving strongly in your favor before...
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
06/15/2007
Do What You Love
So what does this have to do with trading and success? I've noticed that the people who are really successful in many, many fields start some sort of program of self improvement. I have mentioned many of those in past tips and the Artists Way is one of them. They...
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
05/25/2007
When To Quit Your Day Job
I have had many readers through the years--most of whom were less-experienced traders--tell me that at some point in the future they planned to quit their day jobs and trade futures full-time. While their optimism was certainly positive from the standpoint of eagerness to learn about a truly fascinating business,...
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
04/20/2007
Finding the Best Traders In The World
I was recently approached by a top hedge fund about profiling the best traders in the world. Profiling really refers to finding those psychological characteristics that will best predict success. And I believe that I'm one of the world's experts in that area since we have a huge database of...
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
04/20/2007
Using the "ADM" Method to Deal with Losing Trades
A main tenet of success in futures trading is the ability to accept losing trades as part of the overall trading process. This is not an easy undertaking--especially since many futures traders tend to be of a more competitive nature in the first place. Traders certainly don't have to enjoy...
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
03/09/2007
Peak Performance Trading Tips
The sixth key quality is that they all have a business plan to guide their trading. I've been talking about the importance of this plan for years. Most companies have a plan to raise money, but you need such a plan to help you treat your trading like a business....
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
03/02/2007
Abell, Koppel Discuss Their Profitable Short-term Trading Methods
No short-term trading system is perfect. However, having and using a system is critical for short-term trading success, say Howard Abell and Bob Koppel. "A successful short-term trading system must be profitable, consistent, and personal--conforming to the unique psychological and methodological needs of the individual," they said.
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
03/02/2007
Everyone Can Profit
What most people don't realize is that at any given time 4-5 people might go long a position and another 4-5 might go short or unload a position. Each of them can have different systems and different ideas, and all of them can make money. They might have different ideas...
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
01/12/2007
Better to be Profitable Than Right
The ultimate goal of a futures trader should be to have overall trading success by being profitable. There is no single-best path one can take on the destination to trading success and profitability. However, there are a few general trading tenets to which all successful traders have subscribed. One such...
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Trading Psychology Articles (ActionForex.com)
Educational articles on trading psychology. Available in ActionForex.com
12/29/2006
Peak Performance Trading Tips
Jack Schwager's primary conclusion after writing the first two Market Wizard books is that great traders all have developed systems that fit who they are. I tend to agree that that's one of the secrets to success. Chapter 4 of the new edition of my book, Trade Your Way to...
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