The Trading Mindwheel

The Trading Mindwheel

Eight Essential Skills for Trading Mastery
1. Aufl.

von: Michael Lamothe

25,99 €

Verlag: Wiley
Format: PDF
Veröffentl.: 28.03.2023
ISBN/EAN: 9781119868262
Sprache: englisch
Anzahl Seiten: 240

DRM-geschütztes eBook, Sie benötigen z.B. Adobe Digital Editions und eine Adobe ID zum Lesen.


<p><b>An incisive and actionable guide to trading success</b></p> <p>In <i>The Trading Mindwheel: Eight Essential Skills for Trading Mastery</i>, Michael Lamothe delivers a hands-on and practical roadmap to personal investing success. In the book, you'll explore the belief systems, mindsets, and market psychology you need to master to maximize your investment returns. You'll also learn to analyze trades, markets, and risk as you manage your portfolio and continuously improve and validate your own skills.</p> <p>You'll also find:</p> <ul> <li>Ways to use journaling as a roadmap to continuous personal improvement</li> <li>Strategies for using post analysis to validate your own skills and trades</li> <li>Methods for managing individual trades and portfolios in a way that limits relevant risks</li> </ul> <p>A can't-miss resource for anyone interested in trading, investing, finance, and personal wealth, <i>The Trading Mindwheel: Eight Essential Skills for Trading Mastery</i> belongs on the bookshelves of people seeking to build wealth.</p>
<p>Foreword xiii</p> <p>Introduction xv</p> <p>Prelude xv</p> <p>The Start of Something Life Changing xv</p> <p>Philosophy of the Trading Mindwheel xxii</p> <p><b>The Axle Mindset: Beliefs, Belief Systems, Emotions, and Habits 1</b></p> <p>Jesse Livermore’s Story 2</p> <p>Mindset Is Everything 3</p> <p>Taking Inventory of Our Beliefs 3</p> <p>2 A.M. Wakeup Call 4</p> <p>Deconstructing Beliefs and Belief Systems 6</p> <p>Write Your Beliefs 9</p> <p>Emotions and Emotionality 14</p> <p>The Marathon 15</p> <p>Healing Wounds 16</p> <p>When White Knuckling Fails 18</p> <p>Meditation Is a Marvelous Tool! 21</p> <p>Seek Clarity 22</p> <p>Equanimity 33</p> <p><b>Spoke 1 Journaling: Step One of Accountability and Continuous Improvement 35</b></p> <p>What to Journal About 37</p> <p>Types of Journals 44</p> <p>Trading Routines 46</p> <p><b>Spoke 2 Analysis: Analyzing Trades and Markets 55</b></p> <p>Three Things I Learned the Hard Way about Trading 56</p> <p>Analyzing Trades and Analyzing Markets 69</p> <p>Influences and Studies 72</p> <p>Fundamental Analysis: Defining Our Universe 74</p> <p>Defining Our Setups 86</p> <p>Developing a Funnel 96</p> <p>Analyzing Markets 96</p> <p><b>Spoke 3 Risk: Initial Capital Risk, Position Sizing, Potential Reward 107</b></p> <p>Risks Involved in Risk 109</p> <p>Mindsets Needed for Risking Capital 115</p> <p>Ways to Effectively Manage Risk 122</p> <p><b>Spoke 4 Trade Management: Managing Risk throughout the Life of the Trade 137</b></p> <p>Life Cycle of a Trade 139</p> <p>Beginning of the Trade 140</p> <p>Four Types of Exits 143</p> <p>When to Sell in Stages vs. When to Sell It All 154</p> <p>When to Add 159</p> <p>Dealing with Earnings Announcements 163</p> <p><b>Spoke 5 Portfolio Management: The BIG Picture and Assessing Our Total Risk 165</b></p> <p>Assessing “Portfolio Heat” 166</p> <p>Paul’s Story 168</p> <p>Setting Up Circuit Breakers 170</p> <p><b>Spoke 6 Post Analysis: Step Two of Continuous Improvement 173</b></p> <p>What to Include in Post Analysis? How Long and How Often? 174</p> <p>Getting Organized 176</p> <p>Three Habits That Will Help You Improve 179</p> <p>Discipline + Balance = Sustainable Success 182</p> <p><b>Spoke 7 Testing: Factor Modeling, Back Testing, and Forward Testing 187</b></p> <p>Factor Modeling 188</p> <p>Back Testing 192</p> <p>Forward Testing 193</p> <p>Conclusion 197</p> <p>Acknowledgments and Inspirations 199</p> <p>About the Author 201</p> <p>Index 203</p>
<p><b>MICHAEL LAMOTHE</b> is the Founder and CEO of Mara Wealth, a company that coaches new and experienced traders. He has over 20 years’ experience in the financial investment space as an entrepreneur, trader, and coach, and has dealt in stocks, options, forex, crypto, futures, and commodities. He is the bestselling author of <i>The MARA Mindshift Guide.</i></p>
<p><b>Praise for The Trading Mindwheel</b> <p>“Excellent! <i>The Trading Mindwheel</i> is packed with many practical steps needed to become a more successful trader. It’s perfect for anyone who’s read <i>Reminiscences of a Stock Operator</i> (Lefèvre/Livermore) and William O’Neil’s book,<i> How to Make Money in Stocks,</i> and is ready for more specifics.”<BR> <b>—Mike Webster, </b>Portfolio Manager for a private fund, former Head Market Strategist for Investor’s Business Daily, and former SVP/Portfolio Manager for O’Neil Capital Management <p>“Mike explains trading psychology in a way that every trader can not only grasp, but instantly apply to their trading. The tips and techniques that Mike shares are not going to be found in some random online blog. Mike has such a unique way of explaining things that you’re sure to find value in every sentence.”<BR> <b>—Austin Silver, </b>Founder of and Host of The Day Trading Show Podcast <p>“In his book,<i> The Trading Mindwheel,</i> Michael emphasizes the vital role mindset plays in a trader’s ability to profitably execute a sound trading strategy. Top-performing traders know that achieving trading mastery first requires overcoming mental barriers.”<BR> <b>—Leif Soreide,</b> 2019 U.S. Investing Champion and Founder of Champion Team Trading <p>“The biggest misconception new traders have when learning how to trade is that their technical or fundamental strategy will be all they need to become a successful trader, but without the proper mindset, they will never find success as a trader.<i> The Trading Mindwheel </i>lays out 8 essential skills that will be worth more to a trader than any technical or fundamental strategy they will learn.”<BR> <b>—Anthony Crudele,</b> Host of Futures Radio Show Podcast

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