Trading Psychology

The Traders Mindset

By Bennett McDowell Developing “The Trader’s Mindset” is a must for trading success and this can take some time. This is not an area where you can take a short cut or learn a formula. You usually develop it by actually trading and the experiences you gain fr

The Trader Within

By Bennett McDowell None of us are born successful traders. Instead we had to find and develop the trader within in us. One of the key ingredients to developing our trader within is to understand ourselves, know our strengths and weaknesses, and apply this knowled

The Top 10 Mistakes Traders Make By Jim Wyckoff

By Jim Wyckoff Achieving success in futures trading requires avoiding numerous pitfalls as much, or more, than it does seeking out and executing winning trades. In fact, most professional traders will tell you that it’s not any specific trading methodologies

The Nonlinear Nature of the Market

Bennett McDowell What do the above all have in common? That’s right, “nonlinear” concepts! It is interesting that one of the great minds of humanity, Albert Einstein spent his time on “nonlinear” concepts such as “time, space, reality, and oneness.” I

The Mental Aspect of Trading

Many traders quickly come to acknowledge that despite being familiar with winning strategies, systems, and money management techniques, trading success is dependent on your psychological state of mind. If you’re a trader just starting out, where do you find

The Best Psychological Test of All

By Brett N. Steenbarger, Ph.D. In a recent post, I suggested that we may lose discipline in trading for the right reasons, not wrong ones. We naturally gravitate toward the intersection of our values, our abilities, and our skills: those arenas in which we

Ten Lessons I Have Learned in Working With Traders

By Brett N. Steenbarger, Ph.D. When I sat down to write this article, I thought it would be challenging—but useful—to distill over 20 years of trading experience—and 25 years of specializing in brief therapy—into ten lessons that I have learned while worki

Robert Deel Stresses Importance of “Trading Psychology”

New Orleans-Nov. 18-FWN–THE FORMULA FOR TRADING success, according to Robert Deel, is: Self-Discipline + Knowledge + Experience + Skill = Success. Success = Profits. Risk management and money management are key to achieving any success in

Psychology of Trading

As we have discussed before, this discussion forum is to explore the psychology behind the success or failure to trade successfully. As most traders with any experience know, the ability to “call “ the market is relatively easy in comparison to getting properl

Nuggets of Wisdom from Jesse Livermore, Greatest Trader Ever

In the early part of the 20th century, Jesse Livermore was the most successful (and most feared) stock trader on Wall Street. He called the stock market crash of 1907 and once made $3 million in a single day. In 1929, Livermore went short several stocks and made $100 million. He was blamed for the s