Tag: motivation

 

The so-called Fearless State

Mark Douglas is commonly credited for coining the term ‘the fearless state’ in his book Trading in the Zone. Lots of other people have probably talked about this state of mind. But what is it exactly? I explore but I disagree with some of what he has said – or the meanings put on what he has said. For the avoidance of doubt, I’ve written this not to win a point or score a point.Read More

Important books on Trading

In my post ‘Tools – not fools’, I left out books. At that time I had not read many good books on trading, so it was a terrible omission. I was preoccupied with learning from books that did mainly analyses of various sorts. I had focused less as most noobs do, on ‘trying to trade right’. With hindsight, I realise that it’s not about ‘how to trade’ but more about the psychological aspects of tradingRead More

Totally sickened

I’m totally sickened by the fact that many so-called expert traders (self-proclaimed) have monetised their various websites by charging a fee for memberships or selling courses etc. I do not mean attracting income from advertising of independent sources. Some sites advertise and take a cut from advertisers if members sign up to various services/opportunities. I’ve seen this phenomenon so many times. What is it with the so-called pros? If you’re making tons of dosh withRead More

Automaticity

It’s an interesting word but not many know it’s full meaning. It isn’t about becoming an automaton. The Wikepedia definition of automaticity is, “The ability to do things without occupying the mind with the low-level details required, allowing it to become an automatic response pattern or habit. It is usually the result of learning, repetition, and practice.” By reading this post you’re doing ‘automaticity’. You no longer see individual letters. You no longer pronounce eachRead More

Gifted or not?

There are some truly exceptional expert traders out there. Dan Zanger is such a person. He’s turned 10K into 18Million in 18 months. I shan’t be giving a list of similar persons. Google is your friend. Many a struggling trader will say or think to themselves, “These people are just gifted; it’s in their genes!” or words to that effect. Look, whilst some say that the Gods have created us all equally, the facts ofRead More

Desirable core psychological characteristics for traders

The following is my reflection on the characteristics of successful traders. I do not go into long explanations on each of these. Some of these overlap each other: Toughness and resilience – taking the hard knocks, not being crushed by failure, rising again, facing reality. Determination – a refusal to accept defeat. Probably a double edged sword as it could lead to even more catastrophic failures by the most determined who just have not understoodRead More

Getting the ‘fish’ ready for table

I’ve been thinking much more about strategy and planning. I’m appreciating even more how the fruits to be had from this approach. This hit home really well when on Friday 25th July 2015, I achieved a good profit on some trades, shown below. On reflection what I did very differently was to select Athenahealth carefully a few days in advance. Amazon is a distraction and a late entrant that came up suddenly – but thereRead More

The GAP strategy – £1800/hr!

The gap strategy is about profiting from panic in the markets. It takes some careful study. It can work on any instrument representing major indices (eg GER30, US30) At the outset I should say that this is one strategy that should be practised carefully on demo accounts repeatedly to see what happens. For sure you will lose many times – and keep in mind that losing is about 60% of this business – that’s theRead More

Indecent proposal

I’m very much a student of human nature. That often leads me to conversations with people on all sorts of things. My story today is motivated by a few things this week. Firstly I had yet another brief conversation with a taxi driver. He took me from home to my local train station. I was on my way into London from where I’m writing this – in a hotel room. I’m working in London thisRead More

Stalking COSTAR – again

The chart below shows a very observable pattern to COSTAR. It is doubtless a channel. The first thing that will come to mind is that, “It’s purely by chance.. there’s no reason why this is happening”. We may not be able to see the reason, but the pattern is undeniable. Amazingly this does not only happen with COSTAR or any one group of equities. From experience it happens in loads of equities, forex and otherRead More