Traders Mastermind

A cyclist decided to chase me down and confront me for beeping at him. His chimp was in total charge... Hear what happened and how it's a great trading lesson!

In this episode Mark chats with Peter Daniel. Peter has been trading for 8 years and specialises in identifying multi day/week volatility breakout moves across a basket of 30 currency pairs.

• See what Peter thinks holds new traders back.
• His favourite trading setup
• The trick he used to help him hold trades longer
• Why he likes to move stops to break even
• How to build trader confidence

See more of Peter at www.tradersmastermind.com

Trading is tough, doing the right thing in the heat of the moment is not easy. It's a muscle, a habit that needs to be practised.

Build the muscle outside of trading by picking something tough and doing it for 10 days.

Train your mind to overcome impulse and align your actions with your long term vision.

How much time are you spending studying? Studying your market, your setup and your performance?

Are you going deep in your analysis or are you going wide?

Sometimes to get what we want, we have to take a bit of a detour. We might not even like where that detour takes us... But with our eyes on the bigger goal we can accept going off course in the short term.

Golf (or so I'm told) is a lot like trading, the game is won and lost in the details. One shot can make or break your game. The mental side plays a huge role and the game is won or lost on the putting green or driving range NOT on the course...

“Just stick to the process”

“Don’t deviate from the plan”

“Stick to your rules”

But is it really that simple? Can we really just stick to the process?

Al Brooks is a 35 year day trading veteran specialising in price action. Al joined us as a special guest in our weekly members call to talk about his life as a trader, his method, approach to risk and some of his favourite trade setups. A must listen!

Trading on tilt is a trader's nemesis. It must be avoided at all costs! There's simply no use in working on the operational side of trading if you have a habit of occasionally going on tilt and throwing it all away.

Identify your tilt trigger, implement rules to prevent it, and work on it relentlessly.

Our instinct as traders is to look for the answer to a challenge by adding something. An indicator, a line or a rule.

Often the answer is in removal, stripping back to almost nothing. Getting crucial momentum with easy wins before tackling the real challenge.