Category: Trading Education

Maybe the toughest challenge in trading – or market risk decisions – is resolving the conflict over now or later? Should I get in now or later? Should I get out now or later? One can throw a whole bunch of so-called facts at the question and still be no closer to a satisfying (or [...]

Originally posted on Business Insider, April 17. Conventional wisdom in trading psychology used to depend on two primary tenets – discipline and ‘control your emotions’. But that was before neuroscience started putting traders, poker players and other risk-gamers into brain scanners. Now that we know that all decisions depend on the presence of an emotion, [...]

Just a few moments ago, I hung up the phone after speaking with a client who heads a trading desk at a bank everyone in the world has heard of. It would be easy to think – “well, that guy has it made”. (Government’s intention to break-up banks and stop prop-trading notwithstanding). Yet, he wants [...]

I followed the dictum for years – or at least I followed it as well as I could. “Plan the trade, trade the plan“. But like everyone else I had trouble with the second part and often chastised myself. That was until neuroscience proved that within uncertainty – like when our brains see markets – [...]

Here’s a few – Plan the trade, trade the plan. 3 losers in a row and stop for the day. Make just $500 ($5000, $50,000) every day. Control your emotions. Each one of these is really about the mental game of trading. But each and every one reduces your odds of being a successful trader. [...]

This fall we are going to do all of the sessions on Friday afternoons. They will be recorded. We will be reconstituting the list – drawing everyone who has ever enrolled in “Access”. Expect to hear from us on the 13th of September. If you think your name should be on the list, please feel [...]

Just Monday evening we presented our latest interactive workshop to a group sponsored by HindSight Trading. Here is what they thought – “We are also compiling some great emails with fantastic reviews of the event so please let me know if you have a certain place you’d like us to post them.” Post away Colin [...]

Traditionally brokers and industry lore report that only 5% of independent, single traders make it. I don’t know if that stat is true or not. Recently one of the currency brokers said that 25% of their accounts were profitable. Here is what I do know – in a nutshell. All of our traditional ideas about [...]

Here are some of the things I’ve been thinking about: The two areas in trading that separate the men from the boys (so to speak) are: 1.) The ability to divide environmental perceptions in half and process them separately. First I ask myself what I am feeling and in doing so I acknowledge and honor [...]

I knew I needed emotional help the day I became so angry that I punched my bedroom door, stomped down the stairs, and kicked over a living room end table—shocking my wife and two boys, and, most of all, myself. I’ve always been known as the “laid back, non-emotional German from Minnesota.” I was furious [...]