…because a few have asked where on the blog they can find info yet I would prefer to keep the blog as a discussion, here is the link to the info on the new self-driven study course. http://traderpsyches.com/selfdirected.php A more complete description and the download of an introduction is available here. Merci beaucoup for inquiring [...]
I always know if my randomly generated “Psych Cap Tricks & Tips” hits the nail on the head by the number of unsubscribes I get. If I tell it like it is – i.e. you need to plan to use judgment in your trading plan… I get 5 people who unsubscribe. It used to hurt.
I have to start by declaring my genius. This is no place for false modesty. I am the bee’s knees. The caterpillar’s spats. I was long 30 year Bonds last Wednesday before the Fed spoke, from 124/13, and exited the second half of my trade at 131/16.5, lower than I intended, because my charts locked [...]
Every trader devises a strategy for interpreting their markets. It might be Peter Steidlymayer’s original Market Profile (now taught so eloquently by Tom Alexander), it might be a global macro perspective for a discretionary hedge fund or it might be hyper high-frequency day trading. Whichever, it pays to understand WHY one has a strategy and [...]
THIS WAS PASSED ONTO ME – but I also heard it from Eliot Wickersheimer Principal of Mirus Futures. I hadn’t had much time and was thinking “oh they will add $5.00 or something to each trade” … WRONG! http://www.foxbusiness.com/video-search/m/21948997/congressman-sounds-off-on-taxing-trades.htm#q=defazio According to what I have been told – here’s impact on futures trade: The ES is [...]
that some other human being is going to be willing to pay a different price than you pay at some moment in the future. Markets are no more and no less.
Brett and I may not agree on our core ideas about trading psychology but this is an EXCELLENT description of reading price action intraday. Clearly in my mind, this is Trader-Steenbarger speaking … and thanks to one of our readers for asking me to comment. http://tiny.cc/i1r2e Within the words is the real question everyone actually [...]
“I have blown out my account twice because I write down the rules, but then a few hours go buy, I get caught up in the in the emotions and the volatility, and then I notice I never followed my rules, wtf is wrong with me? am I just too obsessive and unteachable? should I [...]
Bear markets mean lower lows and lower highs … and we are in a bear market until we get higher lows. and higher highs … which is decidedly NOT today.
The only way to do that is to help them understand the reciprocal role between acting, feeling and thinking …. and then to help them learn how to deal with, manage and even LEVERAGE their emotions.