In trading, one of the prerequisites of success is to be able to do with consistency that which feels unnatural and uncomfortable. Since becoming a Master Trader is my goal, and since my natural tendency is towards careful planning and staying well within my comfort zone, I am often challenged on my path.
The other night I met with a friend and I showed him my Definite Major Purpose (DMP) that I have written down in less than 400 words (yes, part of a self development program which I can highly recommend). He read it carefully and said “It is well written, very clear, and inspiring. But does it help you to get out of your head, out of your planning, and out of your comfort zone? Because you need Continue reading
We all make mistakes. I have read that how good a trader you are is a function of how many mistakes you make. The Master Trader makes very few mistakes, that’s why he’s a Master!
Initially, I made a lot of mistakes, as I guess most people do when they start out. With time, I’ve been able to learn from my mistakes and as a result, I’ve been able to prevent myself from repeating them. I’ve found that I learn best from my mistakes when I really take the time to write down an analysis of the mistake; what exactly happened; what caused it; what can I do to prevent it happening again?
Today I made a mistake, and I thought I’d make my thought process public. Maybe Continue reading
Do you know when not to trade? Yes, there are times when you should not trade. Trading is above all else, a mental game. Your toughest opponent, your most terrifying enemy, the one bent on breaking you – is you!
I have certainly felt this many times. When I’m on top of my game, when I’m feeling good, when I’m calm, well rested, healthy, focused on the markets in front of me, that’s when Continue reading
Slow and steady wins the race. So the saying goes, and everyone says there is some truth to that when you’re building a trading career. While we all want to start making big money sooner rather than later, I also have come to know myself well enough to realize that I need to adjust gradually to becoming a Master Trader.
There’s another saying: If you win a million dollars Continue reading
One of the things I have understood from all the books I’ve read about trading and from the conversations I’ve had with great traders is this: In order to become a professional trader, you have to put in the effort, the time, the money, and most importantly you have to decide to become a pro.
I understood this a long time ago, but I did not apply it. Why? Because I could not find an answer to this question: Continue reading
I have decided to become a Master Trader!
There, I said it. The effort I made a few years back is not in vain: The establishing of relationships with the Masters as well as the sometimes fragile beginning traders. The interviewing. The mixing and arranging of podcast episodes. Spreading the word about this project. Receiving all that feedback. All this work… and what came of it? Continue reading
After a long break we are finally back! Listen in as Adam Grimes, author of The Art & Science of Technical Analysis, delivers feedback to Marcus Linke.
Adam is offering a lot of information and useful tips, in fact, Continue reading
The apprentice today is Patrick Cullen. Patrick is having a rough ride. He has tried most methodologies and most of the markets without finding his true trading home. We talk about how to find it, how to build trust in your methodology, and about the value of persistence and knowledge.
The Master feedback comes from Andy Abraham Continue reading
The apprentice’s conversation is between myself and Wenzhan. Wenzhan has been trading for six years and is still alive, although not with the consistent profits yet. We talk about riding the roller coaster, about the art of taking profits, about consistency and balance, and about support from your network.
The master feedback comes from Christopher Ebert, also known as Continue reading
This is part two of the apprentice’s conversation between myself and Jon Symons. Jon has been trading seriously since 2009 and is well underway to success, though not with the consistent profits to back that up – yet. We discuss several aspects of trying out trading styles, why we self-sabotage, and what trading and golf have in common.
The master feedback comes from Richard Weissman Continue reading