Trader Mindset

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**Trader Mindset**

Michael Martin discusses trader psychology and emotional intelligence.

Latest Episodes:

How to use time stops effectively Jun 26, 2018

Show notes

When directional momentum stalls after you've established your position, here's what to do.

How to manage a trade correctly Jun 25, 2018

Show notes

All trades have a beginning, a middle, and an end. Most traders focus too much IMHO on the entry (beginning) and the exit (the end).

Mismanage the "middle" and it can mean all the difference between a winning trade and losing one.

When pro traders get in a funk, they do this simple thing to gain back their confidence and become friends with the market again Jun 22, 2018

Show notes

Revert to more simplicity when you get in a rut.

How traders build discipline everyday Jun 21, 2018

Show notes

Great traders focus on their behavior all the time.

Consistency
Perseverance
Persistance
Determination

When you're starting out you won't have the luxury of having these feelings if you blow up two months into your trading career.

Keep your frequency of trading to a minimum until you learn to trade one style and own it. Limit yourself to initiating two trades a day, else you might find yourself chasing everything that's up $2 / share because you feel you're missing out on many trades.

How to go beyond your reward to risk ratio of 5 to 1 Jun 20, 2018

Show notes

Most traders fail to reach their true optimum ability and optimal performance because they have no sense of imagination and the don't challenge themselves.

Why you need to make sure your system is efficient Jun 19, 2018

Show notes

The biggest problem with being a chart-reader only trader, is that finding names for your watchlist is terribly inefficient.

Why you need know the difference between goals and tasks Jun 18, 2018

Show notes

Don't plan to get tasks done, else you'll be stuck in blue collar despair.

Make goals that include increasing assets under management, revenue, net income, and consistent behavior around following your rules.

That's how you'll grow your business and your wealth.

How to get prospects to want to come to you Jun 14, 2018

Show notes

How to get one plus one to equal three Jun 13, 2018

Show notes

When I set personal goals alongside my business goals, I tend to hit both. When that happens, life is good!

Already hit your goals? Set new ones that are realistic and attainable.

Don't forget to set your "FU" or stretch goals also. You might not hit them, but you get your subconscious mind thinking about them even when your conscious mind is working on the attainable ones.

You just never know...

Why failure is guaranteed if you don't stay on message Jun 12, 2018

Show notes

You need two variations of your marketing message: one for individuals and high-net-worth families, and another for institutional investors and allocators.

These two segments speak different languages and their concerns are very different.

For example, if you launch into your pitch loaded with industry jargon to a HNW family, they won't understand a thing you're saying, whereas the allocator will.

If you waver too much, you'll inadvertently end up trying to be everything to everybody. That tactic doesn't work.

Learn to speak to your audience and be mindful of the subtle variations that will make you a success speaking to both segments.

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