discipline

A trader must learn to adapt while on his way to becoming a professional trader, and when he is enjoying his career as a professional trader. Not learning to adapt is one of the many reasons traders fail. Some of the considerations for adapting to changes are: When traders choose a mentor, they...

Peter Drucker, one of the world’s leading management consultants and writers, wrote that good managers walk into a room of various personalities and talents and work with the strengths of those in the room. They identify the resources of these individuals and have them use the best part of...

Why do consistently profitable traders blow up their accounts in one fell swoop? There are actually many reasons, but in every case, it is because they do not effectively mentally rehearse what could go wrong when they are feeling unresourceful so that they will automatically make the right...

A trader who is confident has the ability to recognize his strengths and weaknesses and adjust to situations based on this knowledge. When others panic about drawdowns, he is comfortable paring down his position. This confident trader knows that the probabilities are high, if he sticks with his...

There are several reasons that traders do not seek to improve their psychology. One of those reasons is that they do not believe that they can change. In the 22 years that I have been working with traders, I now have a rolodex full of those who have made breakthroughs and changed what was holding...

Over the 22 years that I have been a trader's coach I have listened to many traders describe the expectations they have for their trading career. Some of those expectations are built on a solid foundation of accumulated resources and others are built on wishful thinking. What are your...

It is easier and less painful to keep life as it is rather than to face the changes that are necessary for us to grow. The changes that I speak of are the changes that will make trading possible in your life. Leaving that relationship Why are you in the significant relationship that you are in...

Most traders are stuck in the same loop of procrastination for not becoming more profitable. They do not consider the time, energy and money that they are wasting by not making the right choices in getting help. I know of a number of people who have been trying to earn money from the markets for 3...

Everyone handles upsets in various different ways. There are those who: · Yell a few expletive words and it is over · Argue for hours · Say self-deprecating things and go into a depression · Get upset and then act with reason and compromise · Find value in learning a lesson from the situation...

Are you stuck in a place or condition of temporal punishment that you have inflicted on yourself, because you are not willing to overcome the self-sabotage that is holding you back from becoming a successful trader? If you are, then you are in a place of what I call trader purgatory. The good news...

The ultimate secret of becoming a master trader is to find the “Holy Grail of Trading.” Yes, dear traders in spite of all of those people who have told you that there is no such thing, it is made only available to those few who believe in it and seek it out. It is true what traders say that you...

It is important to learn from the wisdom of others who have made a success of trading. That being said, I also believe that those who dare to look for opportunity beyond what has been recommended and taught can receive the gold ring. When I first came into the business of being a success coach...

Mentoring others to become traders is a sure-fire way to become clear about your choices resulting in earning greater profits. Becoming an effective mentor means that you must: · Have a plan in place · Within that plan have a strategy · Be able to explain your strategy so they can explain it...

When a trader does not feel he deserves to achieve success, he will create roadblocks to earning and keeping profits. Success issues stem from the lack of self-esteem. One of the components of a trader not feeling he deserves success is his inability for forgiveness. Many people will say the...

Life has a way of dealing out difficult moments and times during a trader's career that affects his trading results. It is not only these unforeseen moments that a trader has to deal with, but it is also unresolved issues of the past. These issues lead to mistakes, inconsistencies and missed...