Trading is a grueling and intense profession. There are stocks, futures, and scanners whirling in front of your face all day. Many traders develop very strong routines to make sure they stay focused and are able to execute their trading plans. In our previous post we discussed the importance of a pre-market routine and how it helped us capitalize on … Read More
The Benefits of Pre-Market Preparation
Profitable trading is a process. That process starts before the market opens. Great traders expect to make money because they stack high-probability ideas into their game plan. Trade management and adjustments are important too, but the stronger the underlying idea, the easier – and more consistently profitable – the trade will be. This post will walk you through the morning … Read More
Lesson 6: Luck versus Skill
You Need To Understand The Role of Luck and Skill In part 6 of my 7-part series on Lessons I’ve Learned, we will look at luck and skill. In order to be successful taking risk in the markets, you must understand the role of luck and skill. From that understanding, there will be several implications for your actions and how … Read More
A Smooth Sea Never Made a Skillful Sailor
People are made for challenges. When we respond to challenges, we become alert. As we move and think to overcome those challenges, we build physical and emotional muscle. We open up our bodies and minds to new possibilities. We learn and grow at an astounding pace, becoming stronger and creating amazing things. In the absence of challenge however, the opposite … Read More
Lesson 5: Review and Tweak
Continuing the series “7 Lessons I’ve Learned”, we come to Lesson 5: Your Path To True Mastery Will Require Extensive Reviewing and Tweaking. In order to be the best, you need to constantly review your performance and look for improvements that you can make. Typically, these will be a series of small, incremental steps and changes—“tweaks”—rather than sweeping, wholesale changes. … Read More
Options Trading for Income with John Locke for December 8, 2014
No relevant positions Risk disclaimer A great way to improve your trading results is by keeping up to date with the latest trading techniques and current market conditions! Click HERE and join me every Monday at 9 AM EST for our free “Options Trading for Income” Webinars! Where you get expert analysis of the markets and the opportunity to follow … Read More
Lesson 4: The Interaction Between Process and Psychology
In the ongoing series “Seven Lessons I’ve Learned”, we come to Lesson 4. We recognize that we are trying to make the best decisions possible and that we some kind of process and discipline to guide our efforts. On the other hand, we need to get the mental game right to achieve true peak performance, just like with any activity … Read More
Lesson 3: You Need A Process of Your Own
Continuing the series on Seven Lessons I’ve Learned, we will explore Lesson 3: A process and methodology of your own are what make you a long-term winner. As we have seen in the past two lessons, trading well is mostly a product of making good risk/reward decisions in the face of stress. The markets can do what they’re going to do … Read More