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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: August, 2021
How hubris can talk you into bad trades 0
Aug 31, 2021
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Winning and losing streaks will happen perhaps from skill, but mostly from randomness. 
 
Don't become too emotionally invested in either. Take them in stride.
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
Revenge trading - when you expect too much from random data 0
Aug 30, 2021

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Your goal is to trade your model, not worry about the outcome of any one trade.

Traders live in a probabilistic world, not a deterministic one.

Click here to  get your free copy of The Inner Voice of Trading audiobook.

Beliefs, Proofs, Faith, and Knowledge 0
Aug 27, 2021
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We get paid to execute. Everything else is self-medication. 
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
Trader education is not hierarchical 0
Aug 25, 2021

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You need to learn the tactics and most importantly learn about yourself.

Those two processes accelerate and decelerate at two different speeds and you'll need to make adjustments between the two as the wisdom comes to you.

Click here to  get your free copy of The Inner Voice of Trading audiobook.

You don't know, but your protective stops do 0
Aug 24, 2021

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There are too many reasons why a trade doesn't work out. Your protective stops will catch all of them, despite your inability to know them all.  

Click here to  get your free copy of The Inner Voice of Trading audiobook.

Conditions will never be perfect 0
Aug 23, 2021
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How to trade:
 
1) Add risk to your portfolio
2) Enter protective Stop Order
3) Don't watch the trade - go do something else
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
Review and reflect on your goals if your performance isn't there 0
Aug 20, 2021
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If you're missing trades, maybe you aren't as emotionally attached to your goals as you should be...
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
Trading with angry money 0
Aug 18, 2021
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Discouragement can turn into resentment. 
 
That can lead you to begin trading with 'angry money."
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
Do you finish what you've started? 0
Aug 17, 2021
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What is past is prologue. 
 
If you've had trouble not following through with things you've begun, new trading ideas or strategies might go the same way for you. 
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
Conserving your mental energy 0
Aug 16, 2021
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We only have so much brainpower each day. Here's how I do as I can to conserve mine each day.
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
One of the most important traits you need 0
Aug 13, 2021
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There are many answers to this question, but I think you could say that having discipline is right up there. 
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
How to program your emotional responses 0
Aug 12, 2021
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You can create programmable responses to things that catch you off-guard.
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
Noise versus signal 0
Aug 11, 2021
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If something you own goes against you, the reason why doesn't matter.
 
You cannot renegotiate with your initial stop price. 
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
A brief history lesson 0
Aug 10, 2021
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What I've seen change and what has stayed the same. 
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
Your willingness to transfer risk 0
Aug 6, 2021
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Trading gains and losses have 2 parts to them: the emotional and financial. 
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
How do you know if you're in the zone? 0
Aug 5, 2021
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Being in the zone has nothing to do with winning or losing trades. 
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
What your emotional system is trying to tell you 0
Aug 4, 2021
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Whether you're a systems trader or chart reader, everyone has an emotional system they're running the in background - and that's what's running the show. 
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
How to train yourself to handle difficult situations 0
Aug 3, 2021
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"The more you sweat in training, the less you bleed in war." - Richard Marcinko, from the book Rogue Warrior
 
You can prepare yourself mentally for challenging markets so they won't derail you when you're in them. 
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
Finding solace 0
Aug 2, 2021
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Having a hard time in the markets? 
 
Don't worry - most of the traders featured in Market Wizards either blew up or had a really harsh emotional hazing in the markets, so you're right where you're supposed to be. 
 
Click here to  get your free copy of The Inner Voice of Trading audiobook.
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