Psychology

Cause and Effect: Thinking Differently for Traders and Investors By, D. R. Barton, Jr.

When I was studying and training to get my degree in chemical engineering, the process of decision making was quite “yes or no”. Learn the rules of the physical world and then apply them. Learn how molecules combine and separate. Learn how mass and energy get transferred from place to place. Learn what is economical and what is not. And along the way, learn how to study hard and get a good passing grade—the higher the grade the better your job choices. However, once I was out of school and …

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The ABC Secrets That Prevent Overtrading By, Chuck Whitman

Every trader falls into one of two camps: the overtrader category or the afraid-to-trade category. My 30 years of training traders has taught me that, no matter a trader’s successes or struggles, every trader falls within one of these camps. When it comes to differentiating an overtrader from those afraid to trade, the distinguishing factor of the latter camp is their difficulty in pulling the trigger. Fearful traders don’t go broke quickly; they die a slow death. It’s the death of paying their living and trading expenses, with no trading …

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My Favorite (and Most Used) Entry Edge. You Can Use It, Too. By, D. R. Barton, Jr.

More than two decades ago, Van introduced me to the concept of “parts” of our personality—roles that compete for our attention and influence over our decision-making. If you’re not familiar with that concept, this is a psychological construct that I’ve found quite helpful for understanding how we make decisions. You may have a safety part, a joy-seeking part, a big spender part, and a pleaser part—all acting from their perspective in our own best interest. While perhaps not a clinically exact description of personality, it is a useful model. Under …

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The Components of Trading Well By, Van K. Tharp, Ph.D.

I’m a neuro-linguistic programming (NLP) modeler and a coach for traders. As an NLP modeler, I encounter a number of people who excel in something, determine what they do in common, and then determine what beliefs, mental strategies, and mental states are required to perform each task. Once I have this information, I can teach those tasks to others and expect to get similar results. My job as a coach is to find talented people and make sure they learn and follow the fundamentals. I remember doing a workshop with …

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Your Net Worth Is In Jeopardy! by Chuck Whitman

The gains that you have reaped in the last few years are vulnerable to the market taking them all back. You have been feeling great about your financial progress in the last few years. The memories of your portfolio getting smashed in the COVID Crash and your financial stress has finally been fading away. However, in 2022, it all comes back like one big adrenaline rush. You feel overwhelming fear as you realize you should have been more diligent in managing your risk. As a result, you oscillate between feeling …

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Crafting the Trader’s Mind and Developing the Trader’s Toolkit By, Ken Long

I was reviewing the “Future of Jobs Report 2020” by the World Economic Forum, which lays out the top 10 cognitive skills needed to survive and thrive in the world, as an individual and as an organization. It was as if I had been hit in the face with a wet fish. You know what that feels like already, even if it hasn’t happened to you personally. These top 10 cognitive skills describe what I have been thinking of as “The Trader’s Mind”. I have been reviewing our many lessons …

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Gratitude, Thanksgiving, and the State of the Markets By, D. R. Barton, Jr.

Thanksgiving week is seasonally one of the strongest of the year. On Monday, the tech-heavy Nasdaq and the broader S&P 500 followed the time-tested tradition of strong Thanksgiving weeks by notching a new intraday all-time high before pulling back later in the session. In today’s tip, let’s take a look at what could be driving market direction into the end of the year. Then, we’ll wrap up with a quick thought on thankfulness, along with an exercise that I think you’ll find very enriching. Since the October market swoon, I’ve …

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You Don’t Trade the Markets: You Trade Your Beliefs About the Markets By, Van K. Tharp, Ph.D.

In the last few months, I’ve observed one person trade a system that he’d already proven not to work because he thought it might work if he had more trades. I’ve seen another person say that cryptoassets had no intrinsic value and subsequently delete all newsletters related to cryptos. That sounds a bit like Warren Buffet saying Bitcoin is “rat poison squared” and about fifty percent of all institutional traders were agreeing with him. On the other hand, I’ve watched people in their twenties get excited about crypto “Shitcoins” such …

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Do Routine Things Routinely By, Ken Long

Trading is all about taking action. That is, taking the right action according to your rules for Standard Work. We have Standard Work for normal conditions (what to do when things are normal) and we have Standard Work for abnormal conditions (what to do when things are interesting). Your relationship with your Standard Work defines your mindset, habits, and approach to trading as a serious person. In a legendary comedy routine, the ventriloquist artist Senor Wences would ask Cecilia Chicken how she knows that this egg is her “son.” Then, …

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Audio Piece: The Walking Man By, Ken Long and Bill Scheidt

Genius of rhythm, Bill Scheidt, has paired up with Ken Long to present, The Tortoise Album. In this track, we hear about The Walking Man and His Five Ways of Knowing: Head, Heart, Gut, Hands, and Feet, on the chosen path. “It’s an ongoing dynamic cycle of life and an ecosystem that shapes who you are and which is shaped by who you are and what you’re becoming along the way… Looking forward to our journeys together” —Ken https://youtu.be/GkVI3hKll6k

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