As a trader, if you are consistent, rational, and you generally do things well, you’ll inevitably get lucky and make a lot of money. But every once in a while, the market will throw a wild card at you, and which could result in you losing more than you had previously anticipated. It’s all part of the
This post is part 3 of a series of posts called The Stoic Trader. In part 2, we briefly looked at Marcus Aurelius’ life and wisdom, and how trading is such a great opportunity for us to implement his stoic teachings. Today, we’ll do the same for Epictetus. Let us begin…Epictetus, The PragmaticEpictetus’ story is really fascinating. The
Today, we’ll look at Marcus Aurelius—aka the last good emperor of Rome—his life, mindstate, and how trading is a tremendous opportunity for us to implement his stoic teachings. This post is part 2 of a series of posts called The Stoic Trader. In the previous one, we looked at stoicism, what it is as a philosophy, and
In this article, I’ll discuss stoicism and how this philosophy can help you become a better trader from a trading psychology point of view –in other words, a stoic trader. But first, let me say this: when people usually think of philosophy, they think of dense books, confusing lectures, lengthy debates… So their eyes naturally glaze over. In
First, let me get this out of the way: this post is titled The Powerful Secret of Highly Successful Traders, but I’m using the word ‘secret’ here in more of a rhetorical way. It’s not really a secret, it’s more of a habit of mind that successful traders have, whether it’s been consciously developed or
I’m sure you’ve heard of ego trading. It’s when you: 1. Mess with your strategy, 2. Make heavily biased calls, 3. Unduly increase or reduce your risk, 4. Hesitate to pull the trigger at the right time, 5. Camp your positions expecting a massive/unrealistic moves in the market … and the list goes on. But how can you drop this so-called ego trading? First, it’s