Trader Mindset

Latest Episodes:

How to play defense when the markets are highly correlated Nov 04, 2020

Show notes

Subscribe to the show When the instruments in your portfolio are highly correlated you can make bank. When they reverse, they will do so at the same time and you will get hit for an outsized loss. Click here to get your free copy of The Inner Voice of Trading audiobook.

The difference between adding to a winner and chasing the market Nov 03, 2020

Show notes

Subscribe to the show Chasing the market is a person's inability to deal with regret. Adding to winners is a process where you have a set of rules to add risk when it makes sense. Click here to get your free copy of The Inner Voice of Trading audiobook.

When the rest of the world sees things differently than you Nov 02, 2020

Show notes

Subscribe to the show When you don't have massive amounts of data on your trading, you don't know the probabilities of winning and losing. If that's the case, the trades you put on are nothing more than a gamble. Be careful not to place large bets on anything - earnings, Phase III clinical trials, or elections - your feelings are not facts. Click here to get your free copy of The Inner Voice of Trading audiobook.

Set a goal around a process not the result of the process Oct 30, 2020

Show notes

Subscribe to the show Set your goals around processes that you can replicate day after day. Setting a goal around an object is passionless and not inspiring. It's your behavior that predicts where you end up in life. Click here to get your free copy of The Inner Voice of Trading audiobook.

The best way to handle surprise announcements Oct 29, 2020

Show notes

Subscribe to the show Another good reason to have orders to add or remove risk - surprise announcements. Click here to get your free copy of The Inner Voice of Trading audiobook.

One way to take surprise outsized gains Oct 28, 2020

Show notes

Subscribe to the show Sometimes markets jump for unexpected reasons. You can have an order sitting above the market to liquidate your position if the market goes parabolic. Click here to get your free copy of The Inner Voice of Trading audiobook.

Why charts aren't maps Oct 27, 2020

Show notes

Subscribe to the show Looking at the chart is just the beginning. It's not the map you think it is. Click here to get your free copy of The Inner Voice of Trading audiobook.

How to sidestep outsized losses and capture extraordinary gains Oct 26, 2020

Show notes

Subscribe to the show From time to time, names you're watching will move sharply before you have a chance to add risk. That means missed opportunities. Names that you're already in will move against you - also before you have a chance to act and keep your losses small. Then you're stunned and frozen and you begin the process of negotiating with yourself. Either way, you're losing and there's not much to say about it despite your reasoning. If either of these scenarios sounds familiar, you can use Stop orders accordingly to hedge against such moves. Click here to get your free copy of The Inner Voice of Trading audiobook.

Anticipate the feelings you don't want to feel tomorrow and act accordingly today Oct 23, 2020

Show notes

Subscribe to the show Frustration is the appetizer to a meal called despondency. If you are unwilling to feel the feeling of frustration regularly, you invite stronger feelings in the future. Use regret to help you make better decisions today. If you want to be a professional PM or trader, losses are a part of the business. Click here to get your free copy of The Inner Voice of Trading audiobook.

What to look for when you're downgraded "on valuation" Oct 22, 2020

Show notes

Subscribe to the show When bad news hits the tape and the stock doesn't sell off, you have a good long trade with more room to go. Click here to get your free copy of The Inner Voice of Trading audiobook.

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