I am often asked what I consider the most important indicator when managing a trade from start to finish. My answer has nothing to do with a chart or any system trading indicator associated with it.  My answer? Psychology.  From personal experience, I consider trading to be 100% psychological. All of our choices, from the type of price chart employed, … Read More

Why Do You Trade? (Dr. Brett Steenbarger)

In a recent post, Mike Bellafiore raised the important question of “Why Do You Trade?” In that post, Dr. Jonathan Katz pointed out that the motivation to make money is often not sufficient to sustain traders. He explains that, “People need to continually find new challenges in what they do and pursue.” This is a great topic, because it separates those … Read More

Traders Ask: How Do You Handle the Daily Stress of Trading?

Hi mike In your book and in many of your posts and lectures you compering a day trader to a professional athlete. because of the need of showing perfect performance in each game/match/contest and you are right of course. But i think there is also a big difference. Most professional athletes have to compete for a few days a month at … Read More

The Back Nine- You First

On the couch, wife out of town, a full container of perfectly ripe cantaloupe, what is a young man to do? I found a killer documentary, not via NFLX, The Back Nine that has left me with a day full of thoughts on trader performance. First should we teach traders to work through their psychological hurdles before we talk set ups? … Read More