One of the problems I used to have is that I dwelled on a missed trading move.  I would see the currency pair move hundred of pips and I would miss out on it.  Then I would bang my head against the wall.  I would kick myself for missing out on the move.  Sometimes that …

  Michael Steinhardt, the now retired billionaire hedge fund manager said about the one quality he valued in people: Very wise words indeed, as there are many traders are paralyzed from taking a position.  They are afraid to enter the game.  They are afraid to have a particular view or bias on a financial instrument. …

  Trading is one of the most lucrative and appealing careers.  One of the big reasons is because it is a meritocracy.  A lot of your skill is measured in your profit and loss.  You make as much or as little money as you want.  As I previously discussed there are various levels of trading …

Mind Over Market Part 6 http://www.youtube.com/watch?v=hQ9XM55pclw Mark Douglas talks about how some people need to only start trading a small size.  And that when you are only trading a small size most people do not think there is any point in it. From an immediate money standpoint you will not make a lot.  But when …

Mind Over Market Part 5 of 7 http://www.youtube.com/watch?v=Vx6wL0zHjoE Mark Douglas talks about how you need to be able to change the way you think.  He is absolutely right. Not only do you need to change the way you think about money management and trader psychology.  Not only do you need to change the way you …

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 …