Category Archives for Trading Psychology

Image of roadsign with question mark on a maze

Hard Questions and Pithy Answers

I was interviewed by Callum Lang and his Enterprize Zone on his podcast and then I was invited to post answers to challenging questions in 100 words or less. Turns out, short answers require more attention

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Risk Reward Ratios and Your Emotional Sweet Spot

How do I learn from my clients? Sometimes the best psychological trading concepts are clarified in a conversation with my private coaching clients. This is especially true when we are struggling with

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The Crypto Craze and Cocky Confidence

My sleep was interrupted by the ring from my personal cell phone. A client who had several million dollars invested in cryptos was in a panic. This was followed by a second call from another client in

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Example of typical client equity curve

The Cocky Clanger | Mind Muscles™ Academy Practice Guide

Mind Muscles™ Academy Practice GuideMind Adventure: Create Your Personal “Cocky Clanger” to stay Confident and not CockyProblem: Hubris (Overconfidence)Desired Outcome: Awareness and neutralizationMind

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Man yawning out of boredom

Boredom – a good way to sabotage your trading career

How to turn the most powerful attribute of an independent trader into the most profit-draining behavior. This is one of our Mind Muscles Moments, which is a very laser-targeted piece talking about a critical

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Graphic showing the The Circle of Confidence progression

Circle of Confidence

“An awareness of the Confidence Cycle in and of itself makes the journey faster and easier.” -Richard Friesen I started my career in the financial market as a futures broker at Merrill Lynch. I had

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Rolling the dice image showing desperation and doubline down.

Doubling Down in Desperation

Here is a list of reactions to a losing position. Before you read them, I want you to do a quick check of your physiology, emotions, and thoughts. And as you read these, notice any changes as you recognize

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Pandemic, panic and peace. How to make the most of an unavoidable event

Pandemic, Panic and Peace

Panic…our brains were created to look for threats on the savannas of Africa. Our brains evolved before the internet when threats to our lives were very immediate and real. However, our evolution

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Pandemic panic prevention through creativity in chaos.

Pandemic Panic Prevention

Your environment is designed to put you in a state of panic. The entire world is gearing up to stimulate your fears. Newspapers, TV news, politicians, magazines, online blogs and social media all gain

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Extreme Events - getting your brain ready for Black Sawns

Extreme Events: Preparing Your Brain for Black Swans

This post was updated on January 5, 2021. “Antifragility is beyond resilience or robustness. The resilient resists shocks and stays the same; the antifragile gets better.” Nassim Nicholas Taleb

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He had everything but success

He Had Everything But Success

He was upset. A former Mind Muscles Academy student called me out of the blue. I hadn’t heard from him for about six months. He was frustrated and angry.He had strategy clarity. With support of our Strategy

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Cartoon picture of a lazy brain reclining on a couch

Trading Behaviors: How to Outwit a Lazy Brain

Why is it so hard to break old trading habits that no longer serve us? Why do we as traders wake up the next morning and regret making trading mistakes that are so persistent, that we repeat them over

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Picture of screaming man believing every tick on the chart is a referendum on himself

Is Every Tick A Referendum On Your Worth?

Roger’s physiology made a dramatic shift. I watched my trader coaching client as he leaned forward with his fists clenched. He had just shorted  20 ES contracts and the market had just broke through

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Why “Will Power” Will Drain Your Brain Power

Carl Richards makes it simple. Carl Richards has an uncanny way of taking complex financial issues and putting them in simple compelling sketches. You can see samples of his work at: https://behaviorgap.com. This

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Image of evil shadow out to sabotage man running in fear

They Are Sabotaging My Success

“My wife doesn’t support me. After every trading session she looks at me with critical eyes.” “My parents want me to get a real job. They believe trading is just like gambling and I’m addicted.” “All

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The illusion of control can affect your trading decisions

Does Your “Control” Illusion Create Trading Losses?

The mind trap we’re going to look at today is “Control Illusion.” This means that if your subconscious mind believes that it is in control, as a trader, you ascribe more value than is actually there. This

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Are you smaller than your money?

Are You Smaller Than Your Money?

“Our deepest fear is not that we are inadequate. Our deepest fear is that we are powerful beyond measure. It is our Light, not our Darkness, that most frightens us.” – Marianne Williamson First,

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Do you have a trading addiction?

Do you have a Trading Addiction?

How do you know if you’re addicted to trading? Signs of a trading addiction Some of my clients are addicted to trading. Yes, addicted. Addicted in the same sense as alcohol, gambling, sex or nicotine

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Does the Trader's Mindset really matter? An image by sbtlneet on Pixabay

The Trader’s State of Mind – Does it Matter?

Does the Trader’s State of Mind really matter? I have heard this argued both ways. It is been argued that the trader’s state of mind, or more formally, the psychology of a trader, is less critical

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Image: controlling emotion

The Path to Emotional Control

Traders have a major problem. After over two decades of trading on the floors in Chicago and San Francisco, building my own options and equity trading firm, training traders to trade my own capital, coaching

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