Info

Trader Mindset

Michael Martin is a trader and instructor. His show deals with the emotional and psychological aspects of trading and managing risk. His book "The Inner Voice of Trading" and features interviews with Michael Marcus, Bill Dunn, and Ed Seykota - who also wrote the Foreword. Get the audio book free at MartinKronicle.com.
RSS Feed Subscribe in Apple Podcasts
Trader Mindset
2024
April
March
February
January


2023
December
November
October
September
August
July
June
May
April
March
February


2022
November
October
September
August
July
June
May
April
March
February
January


2021
December
November
October
September
August
July
June
May
April
March
February
January


2020
December
November
October
September
August
July
June
February
January


2019
March
February


2018
November
October
September
August
July
June
May
April
March
February
January


2017
December
November
October
September
April
March
February
January


2016
December
July
June
May
April
March
February
January


2015
November
October
September


Categories

All Episodes
Archives
Categories
Now displaying: Page 1
Oct 19, 2017

Practice Having Discipline Like for a baseball pitcher, it's about feel and consistency.

That means discipline.

You need to do the same thing over and over in order to be good an anything and that's especially true for trading.

In trading, that means you have to start with good habits, trade positive expected value trades, and consistently replicate that process.

If you have a smaller account, you might think you are relegated to penny stocks or fallen angels.

I would not do that because the emphasis is on making lots of transactions. Unless you are an HFT firm, the number of transactions work against you.

Stay in your winners for as long as you can. They go a long way to ensure you are successful or are becoming a successful trader.

What I would do if I had a small account or was underfunded, is to either trade commodity spreads or option strategies.

You can create hedges with either strategy and limit your risk while putting the odds in your favor.

The margin requirements are also smaller so you don't have to tie up a great deal of your trading equity in one trade.

 

0 Comments
Adding comments is not available at this time.