What's your motivation for doing what you are doing? A lot of us would answer that our primary motivation is to earn money. However, this isn't always a good motivator if you want to achieve success in something like trading and investing.
If there's one word that represents so much of what we do in trading, whether that's while you're learning or as an experienced trader, it's 'patience'.
Goldman Sachs have released a fantastic interview between legendary trader/investor Paul Tudor Jones and Lloyd Blankfein. PTJ talks a little about how he started and shares some of his views on the current markets.
The Odd Lots podcast from Bloomberg featured Peter Borish, who gave some fantastic insights about how to approach the fundamental aspects of the market.
We go through two important points to keep in mind that will allow you to filter out some of your bad entries and stop your tendency to over-trade.
Great traders make mistakes too - we take a look at those in this post. However, there is one key factor that separates the great traders from the failures.
A trader lost over £800 million and caused the collapse of one of the oldest banks in the world. By breaking down this rogue trader's mindset and the mistakes he made, we can understand what we should avoid doing.
Here's a trading task you can complete this weekend that should improve your performance over time (if you do it properly) by identifying the individual areas of your trading that need to be optimised to avoid losing more trades.
We all know we're meant to use this for our trading, but of the minority that actually DO use it, very few use it to its full potential to actually improve their future trading performance.
Stop wasting or misallocating time with your trading. We discuss the Pareto Principle (80-20 rule) and how small changes can have a disproportionately large impact on our trading performance.