Trading for a living (or for supplemental income) is harder than it first appears because humans are hard-wired to deal with financial risk in counter-productive ways.
Primarily, we fear loss, but that very fear causes behaviors that increase losses.
So we inadvertently sabotage ourselves.
Trading profitably, therefore, is mostly about training ourselves to do the opposite of what we are naturally inclined to do. The feedback from the market will eventually steer us in the right direction, but the market charges a high price for that coaching. There are more efficient ways to speed up the re-programming process.
Paradox #1. Humans are hardwired to assess risk incorrectly, which prompts us to buy high (where we should be selling) and sell low (where we should be buying.) Pros train themselves to do the opposite.
How the 'House' Wins
Paradox #2. Fear causes traders to view risk as the enemy and take risk off too soon by taking small profits or moving stops quickly to break-even. Risk is what generates profits… no risk, no reward. Cultivate risk-tolerance, not risk reduction.
Paradox #3. It’s natural to focus on our P&L, but when we do, we internalize a type of feedback that has emotional impact. This makes it more difficult to trade properly. It may sound weird, but stop trying to make money.
- Explore my one-on-one coaching programs here.
- My Mastermind Pro Video Coaching Program will help you cut through complexity and get to profitability faster.
- Experience immediate improvement in your trading with my Mp3 programs for Increasing Discipline and sustaining a Winning Mindset.
- Grab a Free Report on the core competencies of the Top 4% of traders.
- Take a free Trader Personality Profile.
- Schedule a free 15 Minute Consultation.
Method and Mindset
“If you can learn to create a state of mind that is not affected by the market’s behavior your struggle will cease to exist. When the internal struggle ends, everything becomes easy. This is when you can finally take advantage of your analytical and technical skills to realize your potential as a trader.”
The Disciplined Trader
Is Coaching Right for You?
Whatever your level of intelligence, education or success in life, learning to trade for a living is likely to be the most difficult challenge you have ever faced.
Your business skills will not help you because the day trading environment is completely different than the business environment. Moreover, you are likely to confront certain things about yourself that you are unprepared for.
You may be driven to master trading because it holds the secret not only to your financial future, but to your own self-mastery.
Many of my coaching clients report that as their day trading improves, the quality of their life improves along with it. If you are this type of aspiring trader, passionate about succeeding, I am confident I can coach you to achieve your goals.
To review my Trader Coaching Program, click here.
Create a Winning Mindset (MP3)
INCREASE DISCIPLINE: The Easy Way! (MP3)
(On sale for just $99)
According to Mark Douglas, the #1 characteristic of top traders is a lack of fear. These folks maintain a positive attitude regardless of the outcome of any particular trade. This technology will help you
trade like they do.
Secrets of the Top 4%
The largest academic study ever conducted on day traders revealed that most lost money …. even during a raging bull market! About 15% did very well each year, but fewer than 4% of daytraders were able to make significant profits two years in a row.
Finally, an easy to understand Personality Profile that shows you exactly which personality traits help (and hurt) your trading!
Free 15-Min Consultation
Trading can be a lonely profession. Chat about your trading for 15-min with a coach who trades. I may be able to offer a few quick tips that will get you back on track.