Big Mike's Trading Blog

Day trading futures, discussing money management and trade management techniques, and more

Happy New Year!




If you want to keep up-to-date with my trading method and advice, please follow this forum post:
http://forum.bigmiketrading.com/psychology-money-management/1415-big-mikes-day-trading-method-advice.html

I've written over 50 entries so far, and am trying to update it daily (Holiday's excluded).  I choose subjects to cover based on my own trading and based on what is happening on the trading forum, in the Skype trading rooms, and with my own trading students.

Mike

More on my trading method, and general advice

I've just started a thread on the forum that I've been meaning to start for a long time.  This will be a long thread that evolves over time. 

It is not a typical journal, as I won't be documenting trades themselves (entries and exits).  Instead, I will be sharing with you what truly matters, what lies deep within and really controls (or perhaps a better word is allows) your profitability and success as a trader.

The thread focuses on psychology.  Before you close the browser, let me share something with you.  The psychology forum on BMT is the least popular forum in terms of activity.  But guess what, 95% of traders lose.  So, if you are smart, you will do the opposite of what the majority is doing.  Think about it.

I'm a realist.  I'm not advocating seeing a shrink to deal with problems, although it probably doesn't hurt (after all, the real benefit is just in allowing yourself to talk things out in the open, and work your way through them).  I'm not a believer in hypnosis or etc.  I have trouble grasping things like The Sedona Method.




However, one thing I know to be absolutely certain - psychology is what causes most people to fail at trading, and is something I have struggled with for a long while, too.  You should be spending the majority of your day focusing on how to better improve your mental state, your game plan, etc, as opposed to playing with new indicators.

Guys, I'm serious!  This is the way!


So come check out the thread and give it a chance, I think over time if you are not closed minded you will see how this truly is the path to becoming a successful trader.

Mike