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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: June, 2021
Jun 30, 2021
Strategies won't become ineffective overnight, but they will need some tweaking over time.
 
Jun 29, 2021
The markets will change in a way you don't want them to at a time that is very inconvenient to you.
 
If you have a character defect, they will amplify it.
 
Jun 28, 2021
Many times when something's not working, folks look for external resources to fill in the holes.
 
This is true for most traders.
 
The best ones know that the majority of the time, the answer to what's not working is already inside them.
 
IMHO, it's about attaining more insight to who you are and your "why" rather than learning a new trading tactic.
 
Jun 25, 2021
If you can't see yourself becoming more successful, it's not going to happen randomly.
 
Set goals and then act on them immediately.
 
Jun 24, 2021
It's all about your mindset and how you interpret the environment in accordance with your goals.
 
Jun 23, 2021
You might find that when the markets go down, you get frustrated or depressed.
 
It may also happen even though you're smart enough to sit on your hands when the tape is heavy.
 
Jun 22, 2021
When, during your day, do you feel uncomfortable?
 
Albeit temporary, setting and achieving goals will leave emotional stretch marks.
 
Jun 18, 2021
I think mindfulness and awareness are two different but related things.
 
Here's one way to differentiate between the two so that you can put both to work for you.
 
Jun 17, 2021
It's not just about performance or what your trading potential might be.
 
You have to fit in culturally with what the desk already has.
 
[We don't hire traders nor allocate FYI.]
 
Jun 16, 2021
Take a break from your charts and read The Economist, for example.
 
When you can develop a thesis where the fundamentals and technicals align, you'll find yourself in a good place.
 
Not all fundamentals are "funny-mentals" - the latter of which is often misused or taken out of context.
 
Jun 15, 2021
A great deal of trader frustration comes from the need to be right or correct.
 
That's a tall order since we're all dealing with imperfect information at best.
 
Conjugating your emotional makeup with the expected value of your trading set-up(s) is a better way to evolve.
 
Jun 14, 2021
When you're managing risk, if you don't know who you are, it does't matter what you know.
 
Almost immediately, your psychology and emotions will take over.
 
Jun 11, 2021
In this episode, I answer a reader question about technical indicators and chart overlays.
 
I referred to these as 'emotional band-aids' in my book.
 
In this episode, I speak about studying the data around an inverse or reverse head & shoulders pattern as an example.
 
Jun 10, 2021
If you are looking to grow your assets, you need to open accounts.
 
The best relationships are ones where you and your clients understand each other on a deep level.
 
You can't get to that spot without being a good listener.
 
Jun 9, 2021
If you don't know the odds or probabilities (there the same thing), you can't effectively position size.
 
You're gambling, but now at least you know.
 
Jun 8, 2021
As of this date, the majority of companies that help you buy and sell crypto are not regulated nor registered as Broker/Dealers.
 
It's highly likely that is going to change.
 
Jun 7, 2021
Knowing how the crowd is going to behave can lead to improving your trading edge.
 
Jun 4, 2021
All of your emotions are trying to communicate with you and teach you something if you know how to listen.
 
Jun 3, 2021
Let the market help you build an investment thesis after you're already long.
 
Jun 2, 2021
You can learn a great deal about trading by doing it, and in doing so, you'll become your own best teacher.
 
Jun 1, 2021
If you're seeking emotional support for not having your own trading model nor methodology, you're in for a surprise: financial televisions shows can't help you.
 
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