The Offense and Defense of Trading

Trading is hard. This far-flung, never-ending electronic poker game serves up a mental challenge unlike any other. Anything can happen at any time. It looks like a numbers game but it's really a people game. The data are numbers but the information is in the relationships between, and the implications…

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Recover from a Trading Mistake through Writing

A few weeks ago, I attended the annual meeting of The Social and Affective Neuroscience Society (SANS) - a seemingly unlikely place to figure out how to resolve a trading mistake! Those who follow me know I am not only a closet academic but that many of the advanced trading psychology…

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Nailing Better Trade Exits

Do you realize that almost no matter where you exit a trade, you are going to feel bad? If the trade is a winner, you wonder if you could have gotten more out of it or why you gave back part of what you had. It's like a winner is…

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A “Philosophy” of Making Trading Rules

A coaching client in Hong Kong recently wrote this in response to a homework assignment. It is so good, in my opinion, that I want to make it available. Let us know what you think? FROM: AN You asked me what would be the smallest number of rules I would…

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Unnoticed Contexts & Trading Performance

Earlier this week, one of my clients with the title "Head of Equity Trading" wrote exactly this sentence copied and pasted from his email: "i had another one of those traading days where i let my loss just go to its fullest, and had a really bad day." SO... how…

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Do I want to be Right or Do I want to make Money?

As I prepare for The Galtere Institute's Behavioral Finance symposium, I am doing what I always do before I speak - catching up on the latest studies on emotion and risk decision making. For example, did you know that there is actually still much disagreement in science about what emotion…

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