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Are you Playing the Blame Game?

blame gameIt’s easy to look for someone or something to blame when a trade goes against you.

Let’s face it. We’ve all done it at some stage throughout our trading journey.

It was my Broker’s fault for recommending the stock to me. The CEO lied. Moondoggy on Hotcopper said it was a guaranteed winner. Trumps tweet caused me to get stopped out. The markets are corrupt.

Laying blame elsewhere means you are not taking responsibility for your trading. You are disempowering yourself and admitting that you’re not in control.

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Methodology vs. Psychology (Part 2)

psychology In Part 1 of our series last week, we emphasised the importance of Psychology over Methodology.

Instilling in yourself a degree of acceptance when it comes to market behaviour.

Acceptance leads to harmony and peace of mind. A human state that if achieved, will go a long way towards your journey of becoming a successful trader.

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Methodology vs. Psychology (Part 1)

psychology Welcome to Part 1 of our two part series on Methodology vs Psychology.

I love this quote from Mark Douglas:

"We don’t see the markets as they are, but rather our interpretation of them."

It’s a scary thought.

If we are all basing our interpretation of the markets on a subjective viewpoint, then every trader is coming up with variations in analysis. It's a free for all!

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boring goalI’m amazed at the number of traders that have an excited, almost euphoric rush in their voice when talking about trading.

When the markets open it’s like they’re entering a casino. With all the noise and excitement of slot machines, roulette tables and flashing lights. An alluring party atmosphere.

Yet let me tell you one cold hard fact about trading. If you view it like a casino or a theme park full of roller coasters and sugar hits, then you’re destined for the scrap heap pretty quickly.

It’s easy to see why people get caught up in the hype. They react to the second-by-second price ticks as stock valuations change and evolve in the blink of an eye.

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The 90 Day Rule

the 90 day ruleStudies have stated that the human brain requires 90 days to maintain focus. Then you have to hit the reset button.

A Yale University study found that addicts could regain normal brain function after they stopped using for 90 days.

What the studies were concluding is that we need repetition every 90 days to form habits. And yes it could mean both good and bad habits.

So it got me thinking about the 90 day rule and how it could be applied to trading and sticking to our trading plans.

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