Tag Archives: trading systems

Step 007 – Learning From Mistakes

mistake-876597_1280We 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

Episode 7: Smith and Gibbons

The apprentice today is Scott Gibbons. Scott is a brand new trader, trading only Forex for the time being. We talk about the importance of the daily process, systems development, and how to overcome being underfunded.

The Master feedback comes from Robert F. Smith, author of the newsletter Smith In The Black. Besides trading his own account, Rob coaches and trains other traders. Check out his YouTube channel and his profile on www.t3live.com. His high energy feedback to Scott involves topics such as risk management, trading equities via options, and how to gain confidence in your own capabilities as well as in your system.

Episode 007: Smith-Gibbons