Not everyone knows that a universal philosophy actually exists in the business of trading. Importantly, in order to be successful in the long run, this needs to be clearly understood and firmly burnt into the traderās psyche. Anybody can place a few profitable tradesārandomness will take of that. But to maintain that run of success…
Gary Stone Journal
What is a trade?
The act of completing a trade, in essence, is very simple. A trade is simply executing a buy order, holding the āopenā position for a period of time and then executing a sell order. Selling short would be the opposite. The physical act of a trade is very simple. The two transactions (buying and selling)…
The largest loss trade
As traders and investors, forgetting the past is not always a good thing. In order to learn and grow as successful investors we must learn from past mistakes and put rigour and rules in place to overcome the variables at play in the market ā variables over which we have no control. The ālargest loss…
Another beautiful paradox
Focus on, enjoy and love the execution process and outcomes will be positive; focus on the outcomes and the opposite will happen; they will be negative over a large sample of trades. This is yet another trading paradox, the degree to which you focus on outcomes will be the degree to which you will be…
The inner game of the trading process
For more than 10 years I have had thousands of āwannabeā traders come along to listen to trading methodology demonstrations, with the great majority saying: āJust give me a trading system that is good enough for me to make moneyāI have no problem with the psychological side of things.ā Wrong, wrong, wrong! The psychology, that…
How do you currently think?
One of the major challenges that unsuccessful traders need to overcome is to recognise or admit that they are making trading errors. Even though their trading results will always be a stark reminder that they are not making money in an environment that is an endless stream of opportunities to enrich ourselves. (Trading in the…
Discipline in trading
Following on from the interview with Kel Butcher the week before last and last weekās topic on applying knowledge, I would like to discuss the importance of the role that discipline plays in trading. Discipline is a critical technique that we use in life to build and ingrain habits. We require discipline to engender change…
Application of knowledge
Knowledge is mandatory to be a successful trader but knowledge alone does not guarantee success, much more is needed. The application of new knowledge requires that repeated experiences of the new awareness be executed many times over. Discipline is required to repeat the experiences in the face of fear and of unsuccessful individual outcomes. A…
An interview with well known author and trader Kel Butcher
In this weeks blog I interview author, trader and traders mentor Kel Butcher. Kel started his trading journey way back in 1989 and has been involved in the markets for just on 20 years. Kel is the author of A Step-by-step guide to buying and selling shares Online and 20 Most Common Trading Mistakes and…
Superannuation and the true cost of fees
The Australian superannuation industry has been in the news again this week with researchers Dr David Ingles and Josh Fear from The Australia Institute revealing some very interesting numbers on the industry. Their findings and research make interesting reading. I have extracted some information from their findings which add to my persistent calls for people…
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