Guest Blog
This is a guest post from my friend (and a trader and author for whom I have tremendous respect) Kevin Davey. I first "found him" through his book. I read many trading books each year, most of which I end up skimming after the first few pages, and
Individual Traders
I want to share a note I got from a friend and developing trader, Glenn: A note on my trading. It is better than it has ever been. It is simpler then it has ever been. I recognize the pattern and trade it..Less thinking and more lets say brick
Trader Development
Ok, so here is my question. I've been struggling with this all year, but now I start working next week again during the day, so am trying to figure this out. I need to figure out the best way to approach the markets while I'm working.
General Comments
"If you want to be successful, find someone who has achieved the results you want and copy what they do and you'll achieve the same results." That advice, from self-help Guru Tony Robbins, mirrors what many people tell you--if you want to do something, find someone
General Comments
This is the third, and last, post in a series of three posts that started by looking at the 10,000 hour fallacy and the importance of deliberate practice. Those posts were broad in scope, and some of you asked how to related them specifically to trading and financial markets.
Trader Development
This post is a followup to my recent post which looked at Malcolm Gladwell's 10,000 hour fallacy. That post focused on what is wrong with pop science soundbites. This post is different: today, I'm going to tell what you can do to work toward mastery--practical
Trader Development
Have you ever heard someone say they are "working toward their 10,000 hours?" I'm sure everyone reading this has heard of the "10,000 hour rule": the idea, drawn from Malcolm Gladwell's bestselling book Outliers, that it takes 10,000 hours
Psychology
Trading is great—you’ll have no boss, can work whenever you want, and make boatloads of money! (Or so the email I got from a MLM forex scammer this morning tells me…) While there might be a grain of truth in all of this, there’s a bigger truth
Psychology
* "I'm looking for a portfolio that will make about 20% a year but I don't want any down years." * "Can you give me a hedging strategy with options that will protect me from all downside without limiting my upside and at zero cost?
General Comments
One of the frustrating things about current market action is that very few setups have good followthrough. We can follow a market faithfully for weeks, wait for the best possible entry point, put on the position, put in the stop, and then... nothing. The market goes nowhere, chopping around our
Trader Development
Do you ever work really hard and feel like you got nothing out of it? Or, even more to the point, ever work a long time on developing a skill, and have the feeling that you’re getting worse instead of better? Chances are, no matter what you’re into,
Readers Questions
A trader I work with, Glenn, sent me this note: Adam, I think this would be an excellent blog post because when it happens it is so frustrating. I got triggered long, and price came within 3 cents of my 1.0R [R = initial risk on the trade] take profit