Bullshit: 95% of Traders Fail, Trading is Gambling

gamble: to take a risky action in the hope of a desired result; to stake something on a contingency; to take a chance In the context of this definition, trading is gambling; however, so is starting a small business, going to college, getting married, having kids, buying a house, investing in the stock market. Keep that in … Continue reading Bullshit: 95% of Traders Fail, Trading is Gambling

(Video) Screencast: The Importance of Focusing on Your Process Execution and the Objective Trade and Day Grading Tool

Screencast Video and downloadable, customizable Objective Trade and Day Grading Tool can be found below. This screencast is a follow-up to a previous post that I wrote titled Boost Your Trading Performance by Objectively Grading Trades and Days. In that post, I discuss the importance of judging (and grading) each trade that you take and each day … Continue reading (Video) Screencast: The Importance of Focusing on Your Process Execution and the Objective Trade and Day Grading Tool

(Video) Screencast: The Importance of Protecting Your Trading Mindset, Psychological & Emotional Diversification, and the Life Balance Tool

Protect Your Mindset at All Costs The most important (and often overlooked) concept in trading is the following: Your mindset will ultimately be the deciding factor in whether you succeed or fail as a trader. Think of it this way: Traders do not ultimately fail due to blown up accounts - they can save their money and start … Continue reading (Video) Screencast: The Importance of Protecting Your Trading Mindset, Psychological & Emotional Diversification, and the Life Balance Tool

Do What the 90-95% of Losing Traders Don’t Do: Develop an Intuitive Edge Through Focused Observation

This article, which examined 70M+ trades, emphasizes the importance of keeping your losers small and your winners big. The concept is simple enough, yet the vast majority of traders fail at trading because they struggle to do this effectively over time. As the article explains, most traders do the opposite: They cut their winners quickly and let their losers run, … Continue reading Do What the 90-95% of Losing Traders Don’t Do: Develop an Intuitive Edge Through Focused Observation

3 Highly Effective Ways to Help Scale Up Trade Size and the Position Sizing Tool

A link to view and download my Position Sizing Tool Google Sheet can be found at the end of section #1: Measure Risk in R-Multiples. One common trading hurdle that I see with several traders (even some who are highly followed on Twitter with booming subscription services and chat rooms) is their difficulty in scaling up trade size once they … Continue reading 3 Highly Effective Ways to Help Scale Up Trade Size and the Position Sizing Tool

Boost Your Trading Performance by Objectively Grading Trades and Days

One routine that has helped me in my trading career is to keep a record of all of my trades. I use a number of tools to accomplish this, but two that I use most often are Tradervue and Google Sheets. In this post, I'm going to focus on how I use Google Sheets to: Grade each trade that … Continue reading Boost Your Trading Performance by Objectively Grading Trades and Days

Respect to the Trader, the Epitome of the Entrepreneur

Two roads diverged in a wood, and I — I took the one less traveled by, And that has made all the difference. - Robert Frost I have a tremendous amount of respect for anyone going down the entrepreneurial road in life  - the road less traveled. We as traders are perhaps the purest form of the entrepreneur. Many of us … Continue reading Respect to the Trader, the Epitome of the Entrepreneur