What to do when greed and fear start ruining your trades

Do you ever feel you’re not quite in control of your trading actions? Is greed and fear driving your decisions? Let me tell you exactly what signs to look for, and then what to do about it if you do self-diagnose one of these nasty afflictions. 5 ways reckless trading ruins your chance of success […] [...]

7 trading demons that will steal your soul

It’s Halloween tomorrow. So we’re off on a journey into the ‘dark underworld’ of trading… There are many ways to complicate the trading process and mess things up. And I wanted to get them all laid out in the open today. To beat these trading demons means recognising them, and then getting to know their […] [...]

Simple ‘Circuit-Breaker’ saves trader’s accounts

Let’s say you’re an end-of-day trader… You look for 2 or 3 opportunities per week, and you risk 2% of your account on each trade. How might you limit your activities so you never risk ‘blowing up’ your trading account? What’s going to pull you out of dangerous market conditions or protect you from challenges […] [...]

4 soul-sucking menaces that prey on traders

Lie down on the coach and close your eyes… Rich’s Psychoanalysis clinic for traders is open for business… Let’s see if we can get the bottom of some deeper trading performance issues you might be having. Now I’m sure you’re already aware of the obvious ‘technical’ things you need to pay attention to: your ability […] [...]

5 ways to reduce trading pressure

Imagine you’ve just learned to swing a golf club… You can strike the ball pretty good. 7 times out of 10 it even flies in the approximate direction you wanted. ‘Great stuff,’ you tell yourself, ‘Time to pack my bags and join the professionals on the PGA tour’. But hold on… Because once you move […] [...]

Lessons From the Farm

I was talking to a friend the other day that runs an animal feed business. He was telling me how his company has different mills for processing different things. And how one of them – where they are putting in new production line – deals with soybean meal. “Ha,” I said. “I used to trade […] [...]

The hidden dangers of cherry-picking trades

There’s a ‘Golden Phase’ of trading that can happen right at beginning of your journey. It’s where you don’t really know enough yet to have any expectations or feel any kind of frustration. It’s a strange kind of pure state where you totally focus on the mechanics of placing the trades, and not be too […] [...]

7 rarely heard nuggets of trading wisdom

It’s a bit of a brain-tangling paradox but see what you make of this: “An act of self preservation in the ‘normal’ world can have the exact opposite effect when you’re trading.” Think about it… We come naturally hard-wired to grasp ‘lucky’ finds. We get an overwhelming urge to stash easily won loot before anyone […] [...]

How to ‘Iron-out’ 8 common Metatrader troubles

I’ve been working with some newer traders recently, taking them right from opening their first account to placing their first trade. And a lot of the questions I’m being asked revolve around the use of the Metatrader (MT4) platform. Now Metatrader is a really solid platform and best of all comes bundled free with accounts […] [...]

How to be an overnight genius ‘numbers’ trader

Today, I’m going to show you how to make economic data work for you… Even if the thought of all those dreary numbers makes you feel like nodding off to sleep! (It’ll be well worth the next 5-minutes of your time. I promise.) So, first things first, would you agree that to make money as […] [...]