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Money Management in Trading: Gaining the Upper Hand by Playing

Yesterday's post on how to renew yourself after a challenging market week is an important one. It's easy to become so caught up in short-term market action that we fail to pace ourselves through the market year. Many times we make poor decisions, not because we lack effort or discipline, but simply because we've depleted our resources and no longer have the concentration and energy level to properly identify and pursue opportunity.
A measure of a trader's wisdom and experience is the amount of t…
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ztraderindex 2016年01月18日

very good post

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Three Best Practices For Dealing With Trading Drawdowns

Perhaps the one most important takeaway from my recent book is to intensively study your successful trading, build a list of best practices unique to you, and then turn those best practices into ongoing habit patterns that, combined, become robust best processes.
We can learn a great deal from the best practices of best traders. One area that has struck me as especially valuable is the best practices of traders in the midst of drawdown. Even the most successful traders encounter their peri…
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pipx 2015年11月10日

Thanks for sharing this Daytrader21. Flora was a patient cat, she could have done what mine did, follow someone home and "adopt" them :-)

This bit  is what every trader needs to answer - "Ultimately, the key question is whether we emerge from drawdown stronger or impaired."

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Daytrader21 2015年11月10日

pipx Brett Steenbarger is one of the best in his field, he for sure has the gift to make complex things looks very simple

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The Big Mistakes Traders Make

The big mistake traders make is labeling challenges as problems. A challenge is a function of growth, pushing one's boundaries, becoming more than you presently are. A problem is a shortcoming, a deficit, something to move past.
If you are never anxious, you are never pushing your boundaries. Growth requires movement outside our comfort zones. That brings uncertainty, nervousness, and doubt.
The big mistake traders make is trying to eradicate uncertainty, nervousness, and doubt. They want to tr…
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Why Do Disciplined Traders Make Bad Decisions?

We've all known traders who lack self-control. They react rather than act, making decisions impulsively, often based on those twin fears of missing out and losing money. It's no surprise when such traders draw down. In a very real sense, they trade their hopes and fears, not the markets in front of them.
But how about traders with excellent self-control? I know many: experienced money managers with long histories of success. Once in a while they make mistakes that they describe as rookie errors…
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ANABEVZ 2015年04月05日

I can say my opinion:
There are 2 reason as for me
1. Only imagine - you always in a self control, all your emotions, feelings and reactions.. yes  - you can do it as a habit. But, there are one thing that can bring you from this condition and it's not important what value it has. Why? Because in one moment  comes a limit and emotions want to break out, all that so long accumulated.

2. when you taking more and more and more money.. there are the feelings of excitement and too much confidence.. it can push to rash actions.

All we make mistakes.. They are the part of life and experience.

Daytrader21 avatar
Daytrader21 2015年04月05日

ANABEVZ thx for your feedback. You're right no one is immune when it comes to making mistakes.

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Becoming a Better Trader by Becoming a Better Thinker

There is no need to reiterate that when ti comes to trading psychology, Brett Steenbarger is one of the best not only because he has worked for top hedge funds but more because he makes such a complex subject very easy to be understood. In today's blog post I want to share his latest writings:
"If markets were perfectly ordered and static, we could discover a trading edge and exploit it for all time by doing the same thing. Because markets are not static, doing the same thing ensures that…
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PPandM 2015年02月02日

Thanks for this hint! Good luck this month ;)

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Daytrader21 2015年02月02日

PPandM Thanks!!! Wish you the same.

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Dr. Brett Steenbarger - Improving Trading Performance

It's again that time when a new month has started and a new Trader Contest has begin. And you'll see the same pattern repeating over and over again where the majority of traders rush in with over-trading just to grab that spot number 1 from the first day, but as you can see from each month usually the ranks keep changing and those who where in top 10 by the first week usually by the end of the month you can't find them anymore in top rank.
There are many characteristics and skills required b…
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DEMO2nopsW avatar
DEMO2nopsW 2014年07月11日

EUR/USD к вечеру будет 1,3575

khan123 avatar
khan123 2014年07月12日

hello Day trader 21 , i cant post a blog today access denied ? is it cuz of weekend ?

Daytrader21 avatar
Daytrader21 2014年07月12日

khan123 I'm having the same problem and many other can't post anything. Most likely is due to some technical issues from Dukascopy end, but I'm sure they will fix it as soon as possible.

Berkeley avatar
Berkeley 2014年07月13日

I got the same problem since Friday.

Stix avatar
Stix 2014年07月13日

Wail !

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