Trading isn't easy money; it's about the will to succeed and the discipline to become rich. Join Steve Croft, weekly, as he discusses the motivations and psychology behind a trader.
MOT #93 - From Good to Great25/05/2009 Duração: 11min
Mind of a Trader has a new home!http://www.tradingmetro.com/mot-------I am confident that each of us has achieved success in certain areas of our life... business, sports, family, health, trading and so many other areas.Once we reach a strong level of success and can clearly see that we are good at what we are doing, don't allow yourself to stop. Don't be afraid to step away from the success of "Good" to strive for "Great".All of us will experience being good at many things, and we need to take time to enjoy that and reap the rewards. However, we should never stay still and go stale. Look for ways to enhance, strengthen, stretch your wings and when you do this; you will see that you have so much more that is within you.When you learn how to take this step, you will then have the urge to share it with someone else. This is how we pass it on so that the growing never stops. Don't be afraid to stretch. Be excited about moving towards feeling great.
MOT #92 - Climb The Mountain and Love It15/05/2009 Duração: 13min
Mind of a Trader has a new home!http://www.tradingmetro.com/mot-------We all have situations in life that are challenging. They seem to be so large that they look like a mountain that is insurmountable.At times we might decide that the climb is too difficult for us and we walk away. The world throws that style of defeat at us in so many ways and we need to be aware of it and not allow it to stop us.We will not make it to the top of the mountain the first time every time, but if we learn from our challenges and never walk away we will begin to look at these mountains in a different way.Instead of seeing them as something that has beat us down before, caused us pain, brought about losses or any of a dozen of other negative pictures, start to picture yourself going farther next time.When the mountain appears and the climb looks difficult, don't walk away. Say to yourself, "I love the climb". Because then and only then will we begin to see ourselves making it to the top and planting that flag of success on the pe
MOT #91 - What Will You Do At The Fork In The Road?05/05/2009 Duração: 10min
Mind of a Trader has a new home!http://www.tradingmetro.com/mot-------All of us at one time or another have come to a fork in the road. It may be a real fork in the road during a trip. It may be a family decision issue. It may be a major situation within your business. It may happen while you trade.How do you approach it? What do you do? Many times, society places so many concerns and warnings in front of us that we just look at both options and then plan and talk and analyze, but no action is ever taken.A commitment to action will always provide a stronger experience than doing nothing. Even if the decided action takes place and produces results that you do not like, the learning that comes from that action far exceeds the loss that occurred.To grow your skills, your knowledge, your emotional ability and many other areas of success, you need to believe in the decision you make and then act on it with strength and boldness. When the fork in the road appears, analyze and decide and then turn in that direction
MOT #90 - Don't Just Look, Make Sure That You Truly See And Understand21/04/2009 Duração: 10min
Mind of a Trader has a new home!http://www.tradingmetro.com/mot-------Many of us have made trades after a quick look at our charts and later we look back and say "I wish I would have taken a little more time before I did that".In the world around us, everyone is always rushing to do everything especially in making a decision. I understand that sometimes you are forced to make quick decisions, however as a trader, you will regret quick decisions more times that you will congratulate yourself.If we have committed to our risk management, money management, trading strategy along with our overall plan for our session, then I recommend that if you truly want your sessions to be more successful, take a few more seconds in every step.Take a few more seconds to not just look at the charts, but to truly see and understand what you see. Take a few more seconds to determine where you entry point and exit point is and not just wing it.Take a few more seconds to prepare and instead of just looking and deciding, clearly see
MOT #89 - Thinking Can Make Impossible Become Possible14/04/2009 Duração: 11min
Mind of a Trader has a new home!http://www.tradingmetro.com/mot-------I am sure that all of us have seen the statue of The Thinking Man. It is an amazing sculpture that evokes in individuals many different emotions and ideas.As a trader, if we are always worrying about what might happen if we do this or do that and if it is wrong that we will lose money, then we will rarely if ever have a successful session.I submit that if we take time before we begin a trading session to think about all of the correct decisions we will make, all of the good trades we will execute, all of the money management actions that we will adhere to and so much more, then we will be so far ahead of multitudes of other traders.When we take time to think about what we desire to accomplish and what skill sets we have and how we will put them to use while we trade, when the session is over we will many times be amazed at what we have accomplished.Don't begin trading with thoughts of it being impossible to succeed or else your results will
MOT #88 - Enthusiasm Brings About A Triumph04/04/2009 Duração: 09min
Mind of a Trader has a new home!http://www.tradingmetro.com/mot-------The greatest victories in life rarely come from those who are sad, pessimistic or lacking enthusiasm.When we approach challenges in any area with enthusiasm, we set a new foundation that starts us off on the right foot. This does not automatically happen. We all need to decide that we are going to start changing the way we begin our trading sessions.Before we jump on our computer and look at our charts and start executing trades, take about 15 minutes to set the tone for this session. Take a few deep breaths, forget about the list of tasks that you have to deal with today, get a piece of paper and write down 1 or 2 items that you will focus on during today's trades.Once you have your mind set and your 2 items ready; say out loud "I am ready to trade". Say this with enthusiasm and then sit down and begin.You will have a new perspective on today which does not include focusing on the profit results, but instead on the process. Your trading se
MOT #87 - When You Find The Right Track... Don't Just Get On... Get Going!29/03/2009 Duração: 13min
Leave a voice message and you might be on MOT:http://www.tradingpostfinancial.com/mot-------If we get on the right track and just sit still, we will get run over. As a trader, each of us needs to continually review our overall plan and ensure that we are staying on track with the market movement.We need to stay in tune with the volatility and adjust our strategy so that we do not get run over. The real struggle begins when we get everything in order, but then do nothing. This might be because of fear, lack of knowledge or many other reasons.It is so important that we keep moving forward, using the power within our own engine and use the skills we have at the current level of our trading career to make a decision and commit to it.If a train sits still, it will get nowhere and could also easily get hit by another one that is moving down the tracks. They all must keep moving to stay on schedule. Each of us must do the same.We are all just one decision away from a great change in our life. So, find your track, ge
MOT #86 - You Need To Learn How To Dance In The Rain19/03/2009 Duração: 10min
Leave a voice message and you might be on MOT:http://www.tradingpostfinancial.com/mot-------Every trader will experience storms during their trading career.You might have days or even weeks without any storms, but they will come. Violent movements, large losses, markets that react opposite than your strategy tells you will happen and so much more.We cannot keep these situations from happening; however we can make a decision to either wait for the storms to pass or step out and dance in the rain.If we are planning on waiting until there are no storms, no struggles, no disappointments or no losing trades then we will be waiting for a very long time. Expect the storms to occur and have a plan as to how you will work through the storm.When we work through the storm with a higher awareness of our risk management, money management and patience we will come out the other side stronger than before and will be ready for the next time a storm breaks out.It is not the fact that storms happen, it is being ready to get ou
MOT #85 - Action Needs To Conquer Caution14/03/2009 Duração: 11min
Leave a voice message and you might be on MOT:http://www.tradingpostfinancial.com/mot-------We all need to be disciplined along with using good money and risk management skills, yet too much of anything can cause problems.Sometimes we put so much attention on caution to ensure that we only make good trades that we reduce our actions to the point that we miss so many strong trading opportunities.Every time we begin our trading sessions, we need to communicate to ourselves that we will be confident, prepared and most importantly... committed to executing trades when our analysis shows that a good trade is in front of us.Never allow the market, the news, your friends, your past trading session or anything else send you a false signal that causes you to sit back and do nothing when you can easily see from your training that you should execute a trade right now.
MOT #84 - The Old Is Forever New03/03/2009 Duração: 16min
Leave a voice message and you might be on MOT:http://www.tradingpostfinancial.com/mot-------It does not really matter whether you have just begun your trading career or have been trading for years, at times we need to go back to the basics.The very first group of skills and reasons that brought us into trading can be the very foundations that can lift us to new heights.It does not matter how old an idea is, when it is revisited, it will have a new impact on us, because we now have additional experiences to apply them to which will bring about new results.All of us as traders can easily slip into some bad habits and never know it. If we stop and return to our first learning sessions, we will find powerful skill sets from some very basic knowledge.Remember, it is not how much knowledge that you have that determines your success, but what you do with that knowledge that really brings about the levels and rewards from your efforts.