[Video] Trading Psychology - Courage Vs Confidence

January 27, 2012 by admin · Leave a Comment
Filed under: Day Trading Forex Currency, trader coaching, trading psychology 

Which best describes you as a trader?

The answer can shed a lot of light on why trading can be so tremendously taxing…

Click here to go to TradingSystemMastery.com

Have a great weekend!

Cheers

Brian

“To get through the hardest journey we need take only one step at a time, but we must keep on stepping.”

— Chinese Proverb

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Day Trading Coach - Success Tip #4 to make 2012 a GREAT year for you

January 7, 2012 by admin · Leave a Comment
Filed under: Day Trading Forex Currency, trader coaching 

Brian here with Success Tip #4 to help you make 2012 a great year.

Success Tip #4 - Decide to live consciously.

Living consciously means to be very aware on all levels and at all times.

To continually be very much here and now,

… not caught up in the trappings of the ego and the intellect,

… not lost in the fears of the future or regrets of the past,

… but fully experiencing what is happening right now, both inside you and around you.

So much of the time we get lost in our thoughts or distractions that we are effectively UN-conscious and not fully awake.

Subsequently much time passes and we weren’t really even there.

It’s so easy in today’s world, with current technology to get completely caught up.

You’ve got tons of entertainments, distractions, and other things constantly screaming for your attention and drawing you in.

Time to get back to living consciously and simply waking up to the world wide world (I love that term by the way).

Life is too short to go through it half-asleep, missing most of it.

Live consciously and LIVE!

Brian

P.S. There is still a small window of opportunity for you to truly become the trader you want to be, as there are at the time of this writing, still 11 spots open for the package deal on two truly transformational training programs.

Begin your transformation starting right now

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[Trader Training] Become a better trader, get better results. Makes sense, but how?

December 27, 2011 by admin · Leave a Comment
Filed under: Day Trading Forex Currency, trader training, trading as a business 

It only makes sense:  as you get better at being a trader, trading well gets easier and your results improve.

After all, trading IS a skill-based occupation.

Not that you aren’t trying, that’s not the issue.

The issue is that it’s so easy to just look for a ‘thing’ to solve the problem, a ‘thing’ like a new trading system or piece of software.

But your trading is all about YOU, since you are making all the decisions, taking all the actions.

Only when YOU change will your trading see a real change.

How?

Again, trading is a SKILL-BASED occupation, so it only follows that as you acquire and develop the right skills, your trading gets easier and more effective.

So what skills will make you a better trader?

At the heart of your trading is your system, so the skill of properly selecting, evaluating, developing, confirming and optimizing your trading system definitely falls into this high-impact group of skills.

Now it’s not just about know WHAT to do.

You also need to be SKILLED, able to do it WELL.

And when you know how to take a trading system - ANY trading system - and make it profitable…

You sleep well.

You feel good.

People comment on the difference in you.

You have a calm inner peace about you regarding your trading.

You finally feel like you are in control rather than ’subject to’ the markets.

Imagine how your trading life will be different when you have the know-how and the process to take any trading system and make it profitable.

Yes, this is for real.

It’s called Trading System Mastery.

This is all business, no BS.

Not all systems are created equal - even those implementing the exact same strategy.

There are MANY different aspects about a trading system that can keep it from being a profitable system, over and above the indicators, that can make it difficult to make money with and to trade consistently.

When you know how to spot those shortcomings, the holes, the defects, the vague spots and what to do to fix them and make that system profitable…

…and then take that system to the markets KNOWING that its solid,

…your trading becomes a whole different experience.

  • You go from being helpless to fearless
  • You go from stressed to excited
  • You leave doubt behind and now know true confidence.

All because you chose to treat your trading as a business and get the RIGHT skills to really become a masterful trader.

All you need to do right now is decide which of the two ways you’d like to proceed

1.  Focus strictly on your system

2.  Take control of both your system AND your trading business operation

See you on the other side.

Cheers

Brian McAboy

The “Trading Success Coach”

P.S.  NOW is the perfect time to make sure 2012 gets off to a good start.

P.P.S.  Investing in training for yourself truly is a High ROI activity - get trained ONCE, now, and it pays you dividends now AND for the rest of your life!

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Trading Psychology - Make Your Trading Success Inevitable

December 13, 2011 by admin · Leave a Comment
Filed under: forex, trader training 

Has your faith in the possibility of your dreams through trading been been shaken to the point where you’re beginning to wonder if ANYone makes it?

I hear the questions quite often:

“Is anyone making money in trading, or is it just the brokers and system sellers?”

“I’ve been at this so long and nothing seems to work.  Am I crazy to think that I’ll ever get there?”

“What are my chances or succeeding as a trader?  Is it realistic to think I can?”

The interesting aspect of it is that most of the time, these questions are coming to me from traders with 5+ years experience, not newbies.

That’s one of the ‘catches’ about trading.

You can’t make it through sheer persistence.

There’s more to it than that, and it all starts with YOU.

When you get your head right, PLUS do the right things, THEN success will come.

I’ve put together a presentation that sheds a LOT of light on this matter and you can view it here for free, no cost, no signup.

In short, this is how to make your success ‘inevitable’ rather than ‘hopefully maybe’.

http://facebook.com/PsychologyOfTrading/

Have a great weekend!

Cheers

Brian McAboy

The “Trading Psychology Coach”

P.S.  Compared to many 2 hour or 90-minute webinars, I’m getting feedback that this presentation has more worthwhile content, even though it’s only just 13 minutes.  That was no accident.
P.P.S.  If you don’t have a Facebook account, that’s okay, you can view the video anyway, you don’t have to sign in to view it.  If you just don’t like Facebook, then hang loose because I’m going to republish the video on my site in a few days. :-)

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Do Stock Traders Have a Psychological Advantage over Currency Traders

October 31, 2011 by admin · Leave a Comment
Filed under: Day Trading Forex Currency, stock trading, trading psychology 

[Guest contribution provided by Forex Traders]

It was Warren Buffett that once stated, “To invest successfully over a life time does not require a stratospheric IQ, unusual business insights or inside information. What’s needed is a sound intellectual framework for making decisions and the ability to keep emotions from corroding that framework.”  Mr. Buffett has distinguished himself as one of the greatest “value” investors of all time, but his wisdom applies if you are a long-term, “buy-and-hold” investor or a trader looking for short-term gains when opportunities present themselves.

To be successful in any of today’s trading markets, experts will tell you that knowledge, experience and emotional control are the most important factors that matter, and the latter may be the most important of all.  Traders will practice endless hours perfecting their various trading plans, reducing them to simple steps to be followed while in the heat of battle.  Having a fine-tuned plan that has become ingrained as routine habit is the only tried-and-true way for blocking the mind from unnecessary intervention, especially when the need to close a position is at the top of the agenda.  Is this psychology of trading the same in all market venues?

Over the past decade, the popularity of currency trading has swept the investment community and wooed many a stock trader over to its special style of investing.  As many have found, however, the forex market can be especially cruel in handing out its own form of justice for the ill prepared, inexperienced, and impatient throngs that have rushed to this new medium.  Failure rates are reported to be 70% and higher, thereby suggesting that some subtle differences are at play in this genre that unwary stock traders have somehow missed in the transition.

Both markets support day-trading strategies, as well as position traders.  Technical analysis skills are easily transferred from both worlds, providing the necessary guidance for selecting optimum entry and exit points, free from emotional involvement.  From a psychological perspective, both markets demand that you have a detailed plan with logical steps that cordon off your mind from messing with your “intellectual framework”, but “fear” still raises its ugly head in each genre, but in differing manners.

With stocks, you must worry about the management competency of a company, if its financial records have been manipulated, or if inside information has been leaked.  Potential bankruptcy is also an issue, and what goes down may never come back up.  In the forex world, currencies cannot go bankrupt, and even central banks have difficulty trying to influence this market from the inside.  However, the massive size of the forex market, some $4 trillion daily, and with 80% of the volume related to speculation, every little bit of information can cause massive gyrations in an instant as global opinions are formed and a new equilibrium is established.

Volatility in both markets provides the opportunity for trading, and from a scientific standpoint, stocks are technically two to three times more volatile than currencies.  Currencies, however, tend to change directions more rapidly than stocks, another form of volatility, and it is sensitivity to this other market characteristic that generally requires a defter touch and quicker ability to shift without emotions getting in the way.  It is for this very reason that forex brokers provide free “demo” accounts to practice with virtual cash and real time quotes to build confidence and consistency and to learn the nuances of this extremely fast-paced market vehicle.

Warren Buffett also pointed out, “Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”

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