Interesting interview where Jordan (The Wolf of Wall Street) goes over the 4 keys to success as he discovered throughout his life. If the interviewer could have spoken less and quit interrupting his points, this would have been a greater interview. This guy has a lot to say. In case you have been in a cave, Leonardo DiCaprio stars in a movie made based on this guy’s life. The movie is scheduled for release within a few weeks. I’ve added the trailer to the movie below the interview. Here is the trailer to the movie
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After watching most of the French Open and seeing what it took Nadal to win, I couldn’t help but find the parallels with trading. Facing Djokovic (ranked number one) in the semifinals was a tough 4.5 hour match for Nadal. On more than one occasion he found himself behind the almost perfect technique of Djokovic. In the end he prevailed. Lesson 1: Keep your focus. If I had to pick a single trait that I admired in Nadal, it would be a difficult choice, but I would have to go with his focus. Nadal’s focus is extraordinary. During the final,
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@faithmight and @nictrades posted a link to this video today.  Pretty much anything with Mark Douglas in it is going to be good for traders.  His book Trading in the zone has got to be one of the best books I have read on trader psychology.  One of the quickest ways I can tell if a trader is a newbie, is if he or she is focused on entries and exits.  If a trader is talking psychology or risk management, then and only then do I know they have some real and valuable trading time under their belt.  If you haven’t
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This is an amazing poem that speaks to the higher self or the guy controlling the donkey. These are higher concepts that are easy to ignore or push to the back burner. Stay away from that mistake. If trading has blessed you or if it has hurt you, this poem will speak to you. Listen to it daily. Enjoy.
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 I was reading an article on Neuro Linguistic Programming (NLP) anchoring. It makes a good argument on how throughout our lives our behaviors and habits can be “anchored” to environmental triggers.  Being married to a psychologist, and a long time Tony Robbins fan, I’m in familiar territory in this discussion.  Erika, the author of the article, uses an interesting example to make the point of anchoring.  She mentions you common everyday red light and the almost subconscious reaction it gets from us as we approach one.  Without thinking we will step on the break.  Our breaking behavior has been anchored to
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I recently read an article written by Peter Noel Murray on psychologytoday.com.  Peter’s article was about how memories of experience influence behavior.  I think there are some important analogies to be made by traders in the concepts Dr. Murray is presenting.  Let me present an excerpt of what he says and then I’ll make some comments.  Here is a snippet of what he mentions: The point that Dr. Murray makes is that you can have a series of good experiences that can be overwritten by a single bad experience.  If the experience is threatening enough, there is a hidden part
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Interesting discussion on trusting your gut to make decisions, coming from an MIT guy, I thought it was interesting enough to post for everyone to see. Short and sweet.
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Thoughts on trading systems and mental models.
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