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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.
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Now displaying: Page 1
Sep 13, 2017

Human beings are emotional beings. We all have emotional systems.

If you are not connected to your emotions, you are likely to see them emerge when you are under the pressure of trading. A system is a set of rules that you can follow.

After you get the system generated order, you have to enter the trade into your platform. That's where the fun starts.

The Trading Tribe was set up by Ed Seykota to help traders understand the emotions that would derail one's trading.

Scenario 1: you get a system generated order, but you do not enter the trade.

Scenario 2: you have no orders for the particular day, but you enter an order on the fly. In both scenarios, there is a variance between your trading system and your emotional system.

Befriend your emotions and make them allies not antagonists. They are trying to teach you something.

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