Trading for a living: how much do you need?
The idea of "trading for a living" has, no doubt, motivated an army of new and developing traders over the years. Perhaps people look at their current jobs, and think…
Five steps to mental strength
A reader sent me a question this week on how to develop mental toughness in discretionary trading, noting that his own toughness seemed to be getting less tough as he…
It’s not what you think
I've been in this business for about two decades, and I've seen some... let's say... "stuff". One of the most interesting things is that everyone, in developing their process or…
Who’s on your team?
So, I write and talk a lot about the tasks of trading, finding an edge, maintaining that edge, and having the discipline to apply it. Probably and statistics are important…
How do you know if you have a trading edge?
In a recent blog post, I made the statement (borrowed from Jack Schwager), that you must have an edge to be successful in the marketplace, and, if you don't know…
Six keys to managing trading psychology
We live in a "quick fix" world in which everyone is looking for "hacks" to solve and shortcut problems. The internet is filled with "you're doing it wrong" posts that…
Reader question: staying alive long enough to learn to trade
I received a lengthy question for a reader who has put in a lot of time learning to trade, and has not yet left the trading simulator. I thought his…
Your best trading book is your own trading book: four steps to making it real
There are a few practices that consistently separate winning traders from the losers. True, there is an incredible diversity of winning strategies, approaches, and personalities, and winning traders do and…
Six keys to effective risk management
1. It is not just that risk is hard to understand--some risks may be impossible to understand. Your risk management plan has to leave room for the unknown and the…
Where are your risks?
Traders talk about and think about risk all the time, and for good reason: this is a risky business! A lot of things can go wrong, and some of those…
Are you losing when you should be winning? Here’s something you might be missing.
Most people think about where to get into and out of positions. Most traders know how important it is to follow their rules, and most traders are always working toward…
Stop! Don’t make that trade…
So you're a trader, huh? (Or investor... if you think of yourself as an investor, just read "invest" instead of "trade"; this message is for you too!) If you are…
Dealing with setbacks
If you are an individual self-directed trader, expect setbacks and failures, especially in the first two years. Expect that your triumphs may be promptly followed by dramatic failures, that you…
The most important question you need to ask
I spent an hour a week ago talking with a very experienced stock trader. This guy has made a lot of money, but he's made it while fighting a strongly…
Experience meditation, starting today, starting now
The twenty two day guided meditation experience is now live. I will not be posting regular updates here, but follow me on twitter (@AdamHGrimes) or bookmark this page for daily…
Five questions to ask before each trade
Successful trading and investing is largely about asking the right questions. Many of the most serious mistakes we make come from blindly accepting our ideas and perceptions at face value.…