Welcome trader! I’m Dr. Kenneth Reid.
I’ve been coaching traders since 2001, but I never advertise… so congratulations on finding me. You are searching for answers, so I’d like to offer you a few… for free.
There are 6 mistakes aspiring traders consistently make and they are not the typical mistakes you probably already know about. These mistakes are a roadmap in reverse. If you can simply do the opposite of these six behaviors, you will succeed at the Trading Game. I guarantee it.
Traders make these mistakes because humans are hard-wired to deal with financial risk in sub-optimal ways.
Mistake #1. Aspiring traders often buy where they should be selling and sell (stop out) where they should be buying. Fix this by practicing the opposite like this client did.
Mistake #2. Nervous traders often take risk off too soon by moving stops, when they should be doing nothing. Moving your stop too soon generates too many break-even trades. Fix this by sitting on your hands and letting your trades breathe.
Mistake #3. Some traders hold winning positions too long, hoping for the home run when they should be taking risk off as the trade develops. Fix this by taking partial profits.
Mistake #4. Frustrated traders try harder when they should be doing less. Trying harder leads to tilt. Fix this by taking frequent breaks to calm down and regain perspective.
Mistake #5. Many traders increase data input when they should be reducing it. Avoid data overload. Fix this by limiting chat rooms, news feeds, level 2, scanners, etc. to the bare essentials.
Mistake #6. Most traders focus too much on the Money (Outcome…winning/losing) when they should be focusing more on Process (Method). We can’t control Outcome and if you focus on it, you will increase stress, which is counter-productive for traders. Fix this by focusing on what you can control: namely, your own attitude and behavior.
My Mastermind Pro Video Coaching Program will help you cut through complexity and get to profitability faster.
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
“It is almost impossible for the beginning trader to make a reasonable assessment of the level of expertise that is required to function in a trading environment.”
— Mark Douglas, The Disciplined Trader
coaching program: TO MASTER THE MARKET, MASTER YOURSELF
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.
Mastermind Pro Video Coaching Program
Learning to trade is a Hero’s Journey with a beginning, a middle and an end point. Most people get stuck in the middle… I call it The Tangled Web.
Technique and Mindset have a synergistic relationship.
To get unstuck, the aspiring trader first needs to develop a method that has a high win rate (70% or better.) That’s possible if you keep things simple.
As we go deeper down the trader rabbit hole, however, we come face to face with unknown parts of ourselves… ingrained tendencies and habits of mind that sabotage good trading.
Mastermind Pro helps traders cultivate the proper probabilistic Mindset (the same mindset the famous “Turtles” had) along with the technical and tactical elements that reinforce it. Watch a 10 minute sample video 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.
Free “AWARE” Trader Personality Profile
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.