Trade With Precision Newsletter - Nick McDonald

Dealing with the uncertainty, novelty and change of the markets, coping with the emotional highs and lows of winning and losing, resisting the urges and impulses to take profit early or run losses too far, having the patience to cope with waiting for a set-up and entry and avoiding overtrading, all of these require brain and mind fitness.

What forms the basis of a trading strategy?  In this week's newsletter Nick McDonald discusses the importance of trading strategy, consistency, discipline and technical analysis.

NB: For the highest quality viewing click on the wheel in the bottom right hand corner of the video and select 720p.  This will dramatically increase the video image from the default setting.

There are two types of traders. Those who realise how much mindset matters and those that do not.

I still get told by new/amateur/losing traders that “mindset does not matter”. A common phrase I hear is “I don’t need anyone to tell me how to think”. Yet the other group of traders, those who make money trading or are well on their way to doing so, disagree completely. In fact, in trading, business, sport and many other day to day activities, those who perform at the highest level do indeed rely on a coach or mentor and this person often focuses on the mindset to succeed rather than the underlying skill set. 

Welcome to the first instalment of the new Trade With Precision blog!  We LOVE trading and we have a great team here who love talking about trading. In the coming months we will be showcasing a wide variety of new content from the TWP Trading team, including some great new speakers.

There are many trading topics that we can and will write about for future blogs. There are also many good habits that successful traders practice. I have picked just 10 of these good habits for today’s blog.