Trading Psychology: How to Overcome Chasing

Do you have a tendency to chase price? That means, buy high in the hope of selling even higher. Or selling short during a rapid decline without waiting for a pullback. Be honest. If you are male, you probably engage in this behavior, due to the primitive hunter within...

Setting Smart Stops

Intelligent risk management means using stops. If a trader constantly gets stopped out, however, he/she may develop an aversion to using stops. They blame the stop, but the problem is usually the fact that are not setting smart stops. It often starts with a sloppy...

Ride your Winning Trades

Do you find that you are often right about a trade direction, but that you get shaken out of a winning trade before the trade heads off in the direction you expected? In this volatile market, it can be difficult to ride your winning trades to capitalize on their full...

The Money Trap

We trade to make money, but most aspiring traders over-focus on the money, which inadvertently causes unnecessary losses. I call this vicious circle the Money Trap. The Money Trap is an automatic process, because we are wired to react to the risk of monetary gains and...