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Four Traits of a Successful Trader

What an NFL ref and a decades-old car race can teach about trading

by 5/15/2012 3:42:12 PM
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Last Thursday, I had the privilege of co-hosting a live webinar event along with Neil Yeager from Diversified Trading Institute (DTI) and Todd Mitchell of Trading Concepts Inc.

The topic we were tasked with covering was "Traits of a Successful Trader."

I had 25 minutes to discuss this very worthwhile subject. Four key traits I focused on were:

  • Using sentiment analysis to overcome trading weakness
  • Admitting mistakes and move on to better opportunities
  • Set aside your ego to trade more profitably over time
  • Remain a student of the markets to raise your game

Along the way I touch on the Life Cycle of Google (GOOG), how one NFL ref's mistake can teach you something about trading, how the odds of eight losing option trades in a row are actually not that low, how a race from the Monaco Grand Prix from 60 years ago can tell you a lot about your self-confidence, and lastly how you had better be ready to change with the market or you will surely eventually lose.

To view the presentation, please click on the image below.

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