Mind Over Market Part 4 of 7 http://www.youtube.com/watch?v=dkmbfMzRjFw The interview starts off with Mark Douglas talking about how believing in a random result affects your expectations. Mark Douglas is absolutely right. Many traders, including myself when I first started, are afraid to take losses. I always wanted to be right. Every time I would take …
Mind Over Market Part 3 of 7 http://www.youtube.com/watch?v=ZmIZekqgST4 Mark Douglas talks about the patterns in collective human behavior. And when a set of criteria is present in the market, there is a higher probability of one thing happening over another. Now if you are a quant or looking to be a quant, then I suppose …
Mind Over Market Part 2 of 7 http://www.youtube.com/watch?v=NHJtLuaHxHQ Douglas then talks about how to accept the randomness principle, which is to accept the fact that any trade event can be a random unique outcome, but that can produce a consistent result over the long run. He then talks about how traders who fail to acknowledge …
Mark Douglas, an author of trading psychology books is shown in lengthy video interviews describing the many trading psychology and mindset problems many traders face and how to fix them. I will post one of the videos every day and offer my analysis and nuggets of value once per day until all seven parts have …
There are many traders that are worried about how well other traders are doing. Or they are worried about how other traders may be learning faster or progressing faster. Or how some other traders have a better system than them. I remember vividly how I wasn’t making much progress in trading and I would go …
People who get into trading have taken the plunge that very few people dare to do. Most people are stuck and/or happy with whatever perceived job security they may have. They are not willing to learn something new, let alone risk capital in the markets. Most people never get started. And of the ones that do, many …
I get this question a lot: Is it worth it spending time trading when you only have a small account? They may only have $1,000 and think that even if they make 5% or 10% that is not a lot of money. Thus they may never get started trading and never gain the trading experience …
Someone once said: What is a trading philosophy? A trading philosophy is how you view the market to make your trading decisions. It is how you investigate the market in order to discover the truths and principles behind the price movement. A trading philosophy is critical to trading success as it forms a mental model …
The best traders and best order flow traders can catch themselves in the act of making a wrong trading decision. They can know when they are about to make a wrong trading decision and stop themselves before they make it. They are highly self aware. They know of the various scenarios that can play …
Consciously or subconsciously every trader involved in the financial markets and trading gets what they want. Great Quote by the Market Wizard, Ed Seykota: The quote rings true for all sorts of different traders and market participants. The markets, trading, the internet, they are all capable of giving you what you want out of …