The bad news is that we’re simply not made to trade. This is on both a psychological and a physiological basis. The things that are keeping you alive and making you successful in your career are detrimental to your trading account. Once you accept these facts, you'll instantly be able to identify the bad-for-trading behaviors and take simple steps to correct them.
When, not if you find yourself struggling with your trading, it could have absolutely nothing to do with you. During these times you must identify anything in your life that has nothing whatsoever to do with trading that could be coming between you and your success. Correcting these things in your life will vastly improve your trading.
The greatest methodology in the world is useless if you don't have the proper mindset to follow it. You must accept the fact that you can't control the markets. You can only control yourself. By trading only when conditions are conducive, planning the trade and trading the plan you can overcome the battle that's from within.
The good news is that once you embrace the fact that "we're not made to trade" you'll be on your way to success. There are very simple "hacks" that you can take to counteract these seemingly unavoidable human tendencies. For example, is the Siren call of micromanagement taking you out of great trades? Place a proper stop order and then go about your life. This simple step alone will help you to be "as close to the market as you need to be, but no closer."
Handle your biggest enemy. Understanding the mechanics of trading and making a plan is fairly simple. Actually following the plan isn't. It doesn't have to be this way though. I'll show you simple steps to train your brain to conquer the physiological and psychological pitfalls of trading.
The second half of the trade is now up over 62%. I find this trade to be the poster child to the methodology and also a fantastic example of being patient till being proven right or wrong.
Dave is not going to tell you what you want to hear, he’s going to tell you what you need to hear. He explains the importance of money management and the need to eliminate losing trades. He teaches the discipline to wait for the proper time to enter a trade. He also teaches you when to accept a loss and move on to the next trade. He is both a successful trader and a remarkably talented instructor. Dave has the temperament, knowledge, and experience that is needed in this industry. He’s also a genuinely nice guy with a wild sense of humor.
Dave Landry is a real trader who knows his stuff. Too many in this business are fakes. Anyone who can teach others to trade must also trade. Dave's books and courses are valuable; I have no problem recommending them.
Ready to identify and overcome the psychological pitfalls of trading?
First of all, I can't thank you enough for making so much sense about trading but even more importantly your ability to make the complex simple with humor AND patience. Those are truly gifts.
You turned my whole trading world upside down and fixed it.....You may use anything you want that I said. You could also add that I was using one plan then another then another then back to the first one. I wasn't always using stops and was placing them too tight. I just didn't have the cocktail napkin: stop, entry, move stop, target, take 1/2 and move stop up, in place....my money management was horrible, with no idea of risk factors. Thanks! You've made me a better trader. Also, thanks for the education section of your website.
Dave Landry has been actively trading the markets since the early 90s. In 1995 he founded Sentive Trading, LLC--a trading and consulting firm and in 1998 DaveLandry.com--trader's education. He has worked with several hedge funds and thousands of individual traders. He is author three best selling books on trading including The Layman’s Guide to Trading Stocks. His books have been translated into eight languages total. He has made several television appearances and has written articles for many magazines including Technical Analysis of Stocks & Commodities, Active Trader, Currency Trader, Traders Journal-Singapore, and TRADERS' (Italy, Germany, UK, Greece). His works have been referenced in many books on techncial trading including Technical Analysis: The Complete Resource For Financial Market Technicians. He has been publishing daily web-based commentary on technical trading since 1997. He has spoken at numerous trading conferences both nationally and internationally-including Russia, Australia, Hong Kong, Germany, and Italy. He has a B.S. in Computer Science and an MBA. He was registered Commodity Trading Advisor (CTA) from 1995 to 2009. He is a former board member of the American Association of Professional Technical Analysts and is currently a member in good standing.
All of the above plus UNLIMITED LIFETIME SUPPORT-Have A Question? ASK!
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I’m working on a master trading psychology course. This is a massive undertaking and will likely not be available until Spring of 2018. In the meantime, many need help right away. They have their own methodology and their money management (or, are already following my methodology). However, their execution is lacking. They're missing the trading psychology piece. This course is designed to be a bridge for those until I complete the master course.
Once the master course is published, the micro course will no longer be available.
I feel confident that the micro course will help to get you on track psychologically. Why stop there? Through continued learning, you can then take your trading to the next level. The master course delves much deeper into why you are tempted to do things based on our shared psychology and physiology.
Purchasers of the Micro Course or Trading Full Circle will receive a discount toward the master course.
Although we all have different personalities, we share a common physiology and psychology when it comes to the markets. Recognizing and embracing this is key. This means doing the right thing even though sometimes that’s the hardest and most unnatural thing to do.
Absolutely! Once you accept the fact that we are not made to trade, you can then take steps to remedy the external forces and internal psychological issues that are hindering you.
First and foremost, I’ve been in the trenches for a long time on both the institutional and private trader/retail side of the business. I’ve experienced the trials and tribulations and have fought the same psychological battles that you are fighting. I’ve answered tens of thousands of your emails over the years to help many of you overcome your psychological issues. I’ve also learned through the intensive study of many of the experts in the trading community, psychology, and neurology. So, I am not “THE” expert but I’ve learned from myself, from you, and from many experts over the past three decades. And, I strongly believe that I can help you.
Absolutely! You'll get 100% of your purchase price toward the Trading Full Circle Course and/or the master psychology course.
As soon as you purchase, you'll receive a log on to the course. From there you'll be part of our learning management system. Here we'll track your progress as you work through the lessons. You'll receive one lesson per week which will include quizzes to make sure that you're on track.
No, it's the same material as covered in Trading Full Circle. Future updates will be the same to both courses.
Absolutely! If you're prepared to put in the work to go through the course, I'll be happy to answer any questions as they arise. Simply email me. In fact, I give lifetime support on all of my courses on any questions as they pertain to the course.
P.S. There's a lot of rich quick BS out there that suggesting trading is easy. It's not. It can be tough. Understanding and embracing your emotions then taking simple steps to follow your plan is key. If you want to get better at your trading or have lost your way, then start this course today!