I’ve been trading for a living since the end of 2006, and over time, I have come to realize that stress is part and parcel of the job. It doesn’t matter how long you’ve been trading; how much of an expert you are, at times trading will be strenuous — it’s in the job description.
One of the hardest things to teach about trading, I have found (anecdotally), is the idea that you can be wrong, that it’s perfectly okay to be wrong, and that a controlled trading loss is actually a good thing. But, why is that, why do people fear trading losses so much, why do they have trouble
If I have positions going against me, I get right out; if they are going for me, I keep them. Risk control is the most important thing in trading. This quote by Paul Tudor Jones emphasizes the importance of risk management in trading. His approach to risk management is grounded in the idea that losses
In this short post, I’d like to offer a teaching that can be very helpful in not losing yourself in what’s happening in your own thoughts and emotions, and in really cultivating a sense of detachment as a trader. It is particularly useful for us to become more aware of our hard-wired tendency to identify with
A traders morning routine is a very important part of how he/she approaches the market. The typical trader’s mornings are often filled with busyness, chaos, noise, and anxiety. Often, time is wasted on trivial things; preparation is done at the last minute, and this sets the tone for an emotional approach to trading. The antidote to this
To be a zen trader is to trade in a state of grace. But how? First, let me share a quote with you:You Only Lose What You Cling To.The above statement is often attributed to the Buddha, though, some scholars say there is no record of him ever saying that. But whether the Buddha actually uttered those