Future Fighter Pilot In Training
If this doesn’t make you day then you are probably dead from the neck up.
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You Are Doing It Wrong
In presentations regarding trading psychology and why traders find it so hard to be profitable, I often refer to a paper titled An analysis of the profiles and motivations of habitual commodity speculators by W. Bruce Canoles, Sarahelen Thompson, Scott Irwin Virginia, Grace France (Journal of Futures Markets Volume 18 Issue 7 October 1998) This…
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Beyond The Obvious Interview
Recently I chatted with David Hobart who is a former prop trader turned high-performance coach to professionals around the world. Click on the player image below to be taken to the interview.
A Unique Approach To Overcoming Burnout
The number one problem I currently hear from portfolio managers, team members, and traders in financial markets is “burnout”. That’s not surprising, given the list of challenges from 2020: Keeping up with markets that have changed trends multiple times within the year; Maintaining perspective amidst uncertainties regarding COVID-19 and implications for health and safety; Working…
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Common Causes of Very Bad Decisions
Italian psychologist Massimo Piattelli-Palmarini was once asked why people keep making the same mistakes. He said: Inattention, distraction, lack of interest, poor preparation, genuine stupidity, timidity, braggadocio, emotional imbalance, ideological, racial, social or chauvinistic prejudices, and aggressive or prevaricatory instincts. More here – Collaborative Fund
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A Fund Manager’s Time Horizon is the Shortest Common Denominator
For most fund managers there is nothing more important than adopting a long-term approach. This enables them to insulate themselves from the noise and random fluctuations of financial markets, and hopefully exploit them. Yet for many this is simply not possible. Perverse and misaligned incentives, the desire to measure everything over meaningless time periods and…
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Limit Up Interview
Recently I had a chance to catch up with Jack Pelzer and Dan Hodgman of Limit Up where we talked about all things trading psychology. You can find additional episodes of their podcast here. It was actually wonderfully refreshing to sit down and talk to two younger traders who were not obsessed with the prospect…
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Here We Go Again….
Trading is a difficult profession – its difficulty comes not so much from mastering the technical aspects since these are always overstated by the magic indicator fools but rather in coming to terms with the psychological and emotional difficulties that arise. In part, these difficulties arise because of perceptions as to how easy trading is…
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