In the second part of my video tutorial on trading and patience, I examine the 6 reasons why traders and investors lose patience.
Posts Tagged ‘investing’
Video Tutorial - Trading and Patience (Pt. 2)
Tuesday, March 22nd, 2011Video Tutorial - Trading and Patience (Pt.1)
Monday, March 21st, 2011In part one of this tutorial, I talk about the importance of patience in formulating and executing an investment and trading strategy. There’s more to come!
Righting the Risk
Sunday, September 26th, 2010Market Coach Doug Hirschhorn discusses how traders can adjust risk and put themselves in a strong position at the end of the year.
Stick to Your Shorts
Thursday, January 21st, 2010(Watch the Video Online: Market coach Doug Hirschhorn, PhD, advises traders to stick to their shorts for the time being.)
This week’s trading plan should be to stick with your shorts. The top traders on the Street have spent the past couple months positioning themselves for a 10- to 15-percent correction. As their coach, I can tell you it’s rare for these Wall Street titans to be wrong for so long. What does that mean to me? That it’s time to remember three important rules:
- Trust your original thesis Just because the market doesn’t respond in the time frame you prefer does not mean your trade thesis is wrong. More times than not, it just means you were early to the party. So stick around because it’s about to get good.
- Patience is the key to bigger profits When the market starts to sell off over the next few weeks, don’t rush to buy back your shorts and take small profits, like everyone else. If you’re looking for that 10- to 15-percent sell off, have the patience to stick with the trade and endure the pains that precede your gains.
- Stay objective Forget about how long you’ve had the trade on. When the market starts to sell off, ask yourself one simple question: “If I had no trade on right now, what would I do?”
That’s what I call calibrating your trading mindset. If you want to trade like the elite, you have to think like the elite.
Think better, invest smarter.
Is the Recession Over? Thoughts From Vegas
Monday, August 3rd, 2009Some are standing on the sidelines, and others are thinking about jumping back into the investing game, but is the recession over? Should you wait more time, before jumping in?
In reality, the recession has nothing to do with human feelings and thoughts that cross your mind. Technically speaking, humans had the same fears about money 100 years ago, and they’ll continue to have the same fears 100 years from now.
It’s all a matter of whether you can control your feelings enough to make your trades succeed for you. Watch this video (as I connect with CNBC and some of its experts). This should help you decide whether it’s your time or not.
