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The Mental Edge, Part 1 - Focus on the Trade, not the Money

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In my performance coaching work with traders, i frequently find the reason they fail to reach their potential is because they focus on the money rather than the trade. To be successful in trading, you need to reverse this thought process and focus your time and emotional capital on the QUALITY of your trades. you have to believe that if you make HIGH Quality trades consistently...then over time, you will become profitable. Most traders, odly enough dont even know what their HIGH Quality trade (or "EDGE") trade looks like. HUGE mistake. Like a hitter in baseball, take the time to figure out what your "pitch" looks like so you know which scenarios/trades to focus on...then the game is left to committing to doing those AND ONLY those trades... Trade well, Doug Hirschhorn, Ph.D. "The trading Dr." 

Submitter: dhirschhorn dhirschhorn (Ideas, comments)
  1. 0 Buys, 0 Sells rate down rate up
    Excellent point. I had such a huge toolbox, that for years I could essentially swing at every pitch that came my way. It made a lot of money... for my broker.
    It wasn't until I decided that I needed a "bread and butter" setup that I found some peace.
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