Lie down on the coach and close your eyes… Rich’s Psychoanalysis clinic for traders is open for business… Let’s see if we can get the bottom of some deeper trading performance issues you might be having. Now I’m sure you’re already aware of the obvious ‘technical’ things you need to pay attention to: your ability […]...
Imagine you’ve just learned to swing a golf club… You can strike the ball pretty good. 7 times out of 10 it even flies in the approximate direction you wanted. ‘Great stuff,’ you tell yourself, ‘Time to pack my bags and join the professionals on the PGA tour’. But hold on… Because once you move […]...
I was talking to a friend the other day that runs an animal feed business. He was telling me how his company has different mills for processing different things. And how one of them – where they are putting in new production line – deals with soybean meal. “Ha,” I said. “I used to trade […]...
There’s a ‘Golden Phase’ of trading that can happen right at beginning of your journey. It’s where you don’t really know enough yet to have any expectations or feel any kind of frustration. It’s a strange kind of pure state where you totally focus on the mechanics of placing the trades, and not be too […]...
It’s a bit of a brain-tangling paradox but see what you make of this: “An act of self preservation in the ‘normal’ world can have the exact opposite effect when you’re trading.” Think about it… We come naturally hard-wired to grasp ‘lucky’ finds. We get an overwhelming urge to stash easily won loot before anyone […]...
I’ve been working with some newer traders recently, taking them right from opening their first account to placing their first trade. And a lot of the questions I’m being asked revolve around the use of the Metatrader (MT4) platform. Now Metatrader is a really solid platform and best of all comes bundled free with accounts […]...
Today, I’m going to show you how to make economic data work for you… Even if the thought of all those dreary numbers makes you feel like nodding off to sleep! (It’ll be well worth the next 5-minutes of your time. I promise.) So, first things first, would you agree that to make money as […]...
Here’s why I believe financial trading is the best real-world education you can have: It forces you to deal with reality as it stands. Not what you *think* reality should be, according to your personal preferences. It teaches you to quickly develop the ability to absorb unexpected and shocking situations, decide on the best next-actions […]...
Give the following question a bit of thought… What it is you actually want to achieve from your trading? Well money is probably going to feature somewhere. But even that is going to mean vastly different things to different people. Let me give you an idea of how 4 different traders might give wildly contrasting […]...
I remember a spell of making spectacular money week after week. It came early in my trading days when I was young and foolish. So when one particular Thursday rolled around with no loot in the weekly sack I simply entered a long position before an economic report. In some weird and twisted way I […]...
I remember a spell of making spectacular money week after week. It came early in my trading days when I was young and foolish. So when one particular Thursday rolled around with no loot in the weekly sack I simply entered a long position before an economic report. In some weird and twisted way I […]...
I’ve had emails from traders at their wit’s end. The new ESMA regulations have pretty much put them out of business. At least, as far as trading in their ‘old ways’ goes. Personally, I don’t think ESMA is a big deal. At least not for traders following my own trading strategies: we trade in a […]...
I detect a whiff of panic… All these emails I’ve been receiving about the new ESMA regulations. Honestly, you’d think the world was coming to an end or something. And I don’t mean emails I’ve been receiving from TN readers – most of those have been very sensible and enquiring – I mean emails I’ve […]...
I’d like to talk about taking profits today…. I often hear traders say things like ‘you can’t go broke by taking a profit.’ But I disagree. I think the key factor to consider is how much money you might be leaving behind by bailing out too early.Leave too much behind on a regular basis and […]...
Remember that English guy who carried out the ‘biggest military hack of all time’ a few years ago? Gary McKinnon hacked straight into NASA’s systems from his house in Scotland! Luckily he was only on the hunt for photos of flying saucers, but imagine the damage he could have caused with a bit of real […]...
