Trading Structure

Trading: An Activity vs. Trader as Business Owner

“The trader’s long-term success hinges on entrepreneurial skills.” “Trading is not just a business but also a business organization.” “Many traders fail because they establish ineffective trading businesses.” “The successful trading business weaves best practices into best processes.” —Brett Steenbarger, Trading Psychology 2.0 Here are four quotes I have highlighted from Brett Steenbarger’s latest book,…

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Trading Plans: Boon or Bane?

A large percentage of those who trade believe structures and systems restrict their freedom of expression. While that might be true at times for some, for most of us, a defined and structured trading process allows us to focus on increasing our performance skills; benchmarks help us monitor our progress and address areas showing less…

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Data vs. Information

Collecting data is big business. In fact, there’s a name for it, Big Data. Some sources of data are the news media, public records, social media, blogs, customer profiles, company reports, and equipment logs. How important is all this data swirling around in the world today to your successful trading? Due to the volume of…

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Methodology—What’s in a Word?

In the trading industry, the word ‘methodology’ is used often. Do you have a reliable system for getting the trading results you want? If so, do you follow it religiously? Learn why this is so important for consistently getting the results you want Before going further, we should ‘drill down’ and really understand what it…

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Flawless Execution by James Murphy

James Murphy, a former F-15 fighter pilot, works with his clients in his consulting firm by adapting many techniques and strategies used by fighter pilots. Flawless Execution, Murphy’s second book, expands on several insightful points from his first book, Business is Combat. My introduction to his work and business philosophy was via a friend who…

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Three Ideas to Increase Your Trading Edge

Gain real-time advantage by gathering new and effective ideas from peer partners in the trading industry. It’s a vital resource for those striving to improve their outcomes. Here are three ideas we shared with a group of clients during one of our ‘Peer Partners’ sessions. Those who not only implemented the ideas but also modified…

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Key Decision Zones

Key decision zones are pre-determined price levels where market activity has a higher than usual probability of pausing prior to changing direction or continuing in its original direction. For many this type of price level is a key factor in their trading. Comprised of key past, current and developing support and resistance levels as well…

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Mastery and Focus (Anchor)

Focus plays a significant role in your mastery of trading. “Mastery is not a function of genius or talent. It is a function of time and intense focus applied to a particular field of knowledge.” —Robert Greene, Mastery. In the article “Mastery and Learning” we looked at learning from two perspectives: direct and derivative. Direct…

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Mastery and Others

Consider the value that a peer-to-peer team might have for you. “I won’t accept anything less than the best a player’s capable of doing…and he has the right to expect the best that I can do for him and the team!” –Oliver Wendell Holmes. Since writing a previous article on Support Teams, I have learned several…

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Developing Your Support Team

True and ideal support is when those who provide support understand what is important to you. They willingly expend their energy to help you achieve your goals and attain your vision. Whether they are compensated or not is irrelevant. What is important is that you work together as both peers and equals rather than in…

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Brokers—More than ‘Order Handlers’

It is possible, and more essential than you may think, to establish a mutually beneficial relationship with a knowledgeable, caring, and supportive broker. This is one of the most valuable human resources a trader can have on their trading-support team The issue today is not finding a brokerage firm to do business with but finding…

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Support Team: Initial Meeting

The initial meeting with a new support-team member is vitally important. A good connection and aligned values means everything. Here are some ideas for a checklist to help increase the odds of a successful first meeting. In this article we’ll share several key steps for successfully developing and gaining the most benefit from your support…

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