Trading Psychology - Using Your 3 Powers For Better Trading

December 19, 2008 by admin · Leave a Comment
Filed under: The Personal Side of Trading 

Many traders look at the fact that they’re human as a disadvantage or liability in trading, since humans have emotions and emotions are often the cause of poor trading.

Many think that it would be good to be like a machine: set your rules and follow them like a robot.  In this regard, yes machines or computers would have the advantage in that they are emotion-less.

But as a human, you also have powers available to you that a computer just doesn’t have, and if you’ll put them to use, you can give yourself a huge edge in your trading.

Here’s the video,

Your ability as a human may have its down-sides in that you have the ability to feel, but you also have the most powerful computer on the planet, so use your powers and trade better.

I hope you have a wonderful holiday season!

Cheers

Brian

P.S.  Oh and just in case you missed it yesterday, from now through December 25th, 2008, you can save 20% on anything from Inside Out Trading.  It’s our “Twas the week before Christmas Sale”, just to make it easier to give yourself the gift of better trading.

Here’s the poem and the coupon code to use,

*******************

Twas the week before Christmas
and ‘09 is now near.

These last couple months
made ‘08 quite a year.

In times like we’re in
one thing is the same,

Trade well and keep  cool
is the name of the game.

What markets you trade
doesn’t matter it’s true,

Your profits all come
from one source - and it’s you.

The better you trade
the more money you make.

Education is key
and n’er a mistake.

To help you with this
and to save you some dough,

Take 20% off
with the coupon below.

The holiday season
is time to prepare

With good books and resources
that were created with care.

I hope you enjoy
this holiday respite

Good trading to all
and to all a good night!

*************

Use the coupon code below to save 20% off anything and everything at Inside Out Trading from now through December 25th.

Coupon code = 8B960879A9

For traders that want:

To get a handle on your emotions,

The Trader’s Guide to Emotional Management

To understand the obstacles that are holding you back from profitable trading,

The Subtle Trap of Trading

To make measureable improvements in your consistency, confidence, discipline,

The Trading Performance Analyzer

To become a true professional in the business of trading (covering all the bases),

The Trading P.I.T. Club, featuring “Smart Trader Training”

Or for personal one-on-one coaching with me to address particular emotional challenges,

One-on-One Coaching with Brian

I wish you and yours the best for the holidays and the coming year!


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Trading System Design - Part 1

October 28, 2008 by admin · 13 Comments
Filed under: trader training 

In trading, your system is your method and strategy all combined into one and is what gives you consistency, protects you from substantial losses (hopefully) and provides a sufficient number of profitable trading opportunities.

When you have a system that you fully understand and believe in, this helps tremendously with the whole ‘trading psychology‘ aspect of being a trader.

Needless to say, having that reliable system is also one aspect of trading that many people struggle with.  Not necessarily finding or creating one, as they can be found all over the place and making one isn’t really that tough either.

Anyone can make up a system, be it mechanical or discretionary, technical or fundamental, or any combination.  Heck just throw some ideas out there and you have a system.

The challenge is ending up with a GOOD system that meets your objectives, fits your comfort zones and performs RELIABLY so that you can have the confidence in it to stick to it with the winners and losers alike - the old discipline challenge.

As you probably know, I created the Trading Performance Analyzer so that you can analyze, evaluate and track the metrics on an existing system, activities that are tremendously helpful in building (or rebuilding) confidence in an existing system, comparing systems to see which is best, and to evaluate changes made to your system when you wish to optimize it.

The new project that I’m working on is a Trading System Design Guide for more of an Engineer’s approach to designing a trading system from scratch, but in layman’s terms, applying the strategies and thinking that I’ve learned over my years as an Engineer.

Where I could use your help is to know what your thoughts, questions and concerns are when it comes to trading systems.  This is wide-open here, so any questions you have are welcome.

My objective here is to end up with a guide for designing a trading system that is geared to the beginning, novice and intermediate trader, that will provide you the step-by-step process for designing your own trading system that works, is user-friendly and makes complete sense to you.  No more ‘black box’ or ambiguous system to work with.

Simply post your thoughts below.  Again, this is wide open, so any question, thought, concern or suggestion is welcome.

Thanks, and yes I will be making this available to you when it’s completed.

Cheers

Brian

P.S.  This is the first of a few posts on this project, and the questions will get more detailed as we go along, so make sure to check back here or be checking your inbox.


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