I came across these videos below that I thought were pretty eye opening.
They don’t offer much in the way of technical analysis or actual trading but the insights into how psychology affects your trading and seeing it happen right before your eyes was very interesting. Covers all the emotions traders have to deal with fear, anxiety, greed, overconfidence.
I was able to watch 2 out the 3 episodes this weekend and I have noticed one significant point for this series versus the trading academy. The million dollar traders don’t seem to be using any sort of system at all, which we all know is pretty much critical to success… probably not surprising that they are losing money and lots of it. Granted they were trading during the crash so it would have been tough anyway.
The traders that are following some sort of system (like the guy buying brand name stocks and the other guy that buys military stock only) are still doing better than the other traders that seem to be jumping from stock to stock randomly.
The trading academy though had a very strong focus on having a system and a trading plan in place and they seemed to be doing much better.
