Trading Mindset: Setting Yourself Up for Success (Interview)

by | Oct 27, 2021

Topics Discussed

  • Focusing on Two Stocks Every Morning (Quality Over Quantity)
  • Taking a Starter Position to "Get a Feel" for a Trade
  • Scaling Into Trades
  • Minimizing Losers and Maximizing Winners
  • How to Plan Better Entries
  • The Risk/Reward Ratio Traders Should Aim For
  • Losing Money vs. Ignoring Your Rules
  • Mentally Managing Losses
  • Dealing with FOMO
  • Not Fighting Trades
  • Managing Mental Real Estate Efficiently
  • The Importance of Patience
  • Avoiding Overconfidence and Allowing Yourself to Be Wrong
  • The Dangers of Being Rewarded for Recklessness
  • Verbalizing Your Trades
  • Knowing When NOT to Trade
  • Battling Stubbornness
  • Letting Other Traders Be the Guinea Pigs

4 Comments

  1. 13:45 - 14m Question is top stuff, Alex - Perfectly articulated - That point at which its "do i stick with my plan and just let it play out?" or "based on 'feeling' maybe should i cut this know, and if i miss, i miss"...

    Reply
    • My biggest problem is not getting in and just watch it do what I thought it would. Sometimes I'm glad I didn't get in but 75% of the time I'm not

      Reply
      • Omg me to, my demo
        Account is up 3000-4000 everyday and my main account 100. 😩

        Reply
  2. My concern is staying in a position too long. Start green and end red. When I don’t stay in a trade, my position usually goes in my intended direction. Or getting in a position too late. I can find good tickers to buy, but when I get in a few bars late….it doesn’t end well. Lol

    Reply

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