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Janice Dorn

Janice Dorn, MD, PhD
Neuropsychological Trading Coach

Janice Dorn, M.D., Ph.D., has been a full-time futures trader since 1994. Doctor Janice holds an M.D. in psychiatry and is board-certified by the American Board of Psychiatry and Neurology in general psychiatry and addiction psychiatry. She holds a Ph.D. in brain anatomy. A graduate of Coach University, she is a pioneer market psychiatrist and financial neurobehaviorist. Doctor Janice has written over 500 articles on the financial markets and coached over 600 traders worldwide. She is the Global Risk Strategist for Ingenieux Wealth Management Group, Sydney, Australia.

Trading Wisdom
The Quick Fix
February 22, 2008
There is a new and interesting program on HBO television titled 'In Treatment.' It follows the stories of five patients that come to see a therapist for a variety of emotional challenges. It also delves deeply into the personal struggles that the therapist (played by the brilliant Irish actor Gabriel Byrne) faces in the course of dealing with these patients. Watching this program and the intensity that comes from having every word or action dissected reminds me of the 20-plus years I have spent as a practicing psychiatrist and trading coach.

View the archive of Dr. Janice’s insightful Trading Wisdoms below, then click here to make sure you don’t miss out on this great trading advice! You may not realize all the stock trading success potential you already have, but Dr. Janice does! And she’s ready to help you make the money you deserve. Find out how!

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  • 2008
    • February
      • The Quick Fix
        There is a new and interesting program on HBO television titled "In Treatment." It follows the stories of five patients that come to see a therapist for a variety of emotional challenges. It also delves deeply into the personal struggles that the therapist (played by the brilliant Irish actor Gabriel Byrne) faces in the course of dealing with these patients. Watching this program and the intensity that comes from having every word or action dissected reminds me of the 20-plus years I have spent as a practicing psychiatrist and trading coach.
      • Loving the Mistress
        Yesterday was Valentine's Day again, and love is in the air. I could not let this day pass without paying homage to the Market Mistress. I have written many times about the market as a demanding mistress. You may recall my saying that the mistress insists that you do her bidding. If you do, she will reward you. If you disobey, you will be in a kind of eternal Valentine's Day situation where you must bring more and more flowers, candy and gifts to put at her feet in order to win her favor.
      • Lessons From Kum Do
        For the past five years, I have made what can best be called an incredible journey. Several times a month, immediately after nightfall, I get in my car and drive 45 minutes north of the city where I live. The mountain roads are narrow, winding and treacherous, especially in the dark. Nonetheless, I continue, trying to be oblivious to the steep falloffs and the hairpin turns that come upon me in an instant. I make this trip for two reasons, and both are relevant to trading.
      • FEAR: False Evidence Appearing Real
        After years of studying the markets, I have come to the conclusion that fear wins the prize for being the most powerful emotion of traders and investors. Additionally, I believe that fear and greed are virtually impossible to separate. If backed into a corner, I would state almost without equivocation that greed is the manifestation of fear and that markets move on fear and fear alone.
    • January
      • Evil Kerviel
        Over the past years, I have brought you several “Great Moments in Trading Infamy.” You may recall my recounting the story of Nick Leeson, the “rogue trader” who broke the venerable Barings Bank of England. I have written numerous times about Brian Hunter, the young Canadian trader who just happened to lose 4.8 billion dollars (over a weekend in the fall of 2007) for the now-defunct Amaranth Hedge fund by making a bet against nature. Well, please hold on to your chairs, because the biggest fraud in investment bank history happened over the weekend.
      • Decisions, Decisions, Decisions
        Yesterday, I was standing at the counter of a convenience store waiting to pay for one of the local newspapers. Standing next to me was a thin, shabbily dressed woman who looked to be in the range of 80 years old. She had holes in both shoes, and her face was deeply tanned and wrinkled. It was pretty clear that she was either homeless or living far below the poverty level. She stood motionless, not looking at anyone, clutching a crinkled dollar bill in her shaking, outstretched hand.
      • The Rules of Trading Part 1: Road Maps
        In the final Trading Wisdom of 2007, I stated that perhaps the most hideous word to a trader's ear is “uncertainty.” After years of coaching hundreds of traders, I am becoming increasingly convinced that right up there with the word “uncertainty” is the word “rules.” Traders know instinctively that they have to have some kind of rules, but they don’t know what these rules are.
  • 2007
    • December
      • Counting Down Part 6: Uncertainty
        Another year has come and almost gone, and this is the final Trading Wisdom of the “Counting Down” series and of 2007. As I write this, I realize that I have chosen a topic that is likely among the most hideous words a trader or investor wants to hear. That word is “uncertainty.”
      • Counting Down Part 5: EmotionsPart 2
        As we approach the end of another year, we are almost done counting down to the last Trading Wisdom. So far, in this Counting Down series, we have covered the topics of Acceptance, Dedication and Determination, Intuition and Emotions, Part 1. This week we continue with Emotions, Part 2.
      • Counting Down Part 4: EmotionsPart 1
        As another year comes to an end, we continue to count down with Trading Wisdom. So far, we have covered Acceptance, Dedication/Determination and Intuition. Today, we look at what I believe to be among the most important and least understood aspects of successful tradingEmotions. Because of the critical importance of this topic, I have decided to make this Part 1 of 2 on emotions.
      • Counting Down Part 3: Intuition
        Among the many topics relating to Trading Neuropsychology, intuition is high on my list of favorites. Perhaps this is because it is the least understood and studied. Moreover, I believe it is among the most critical to understand. This Trading Wisdomthird in our countdown, with three more to go for the yearhas many ramifications, twists and turns.
    • November
      • Counting Down Part 2: Determination and Discipline
        Last week, we began counting down to the end of another year with the topic of A = Acceptance. In response to the many wonderful emails I received on this topic, I posted on the Message Board (November 25) some specific steps you can take to get into the brainset of acceptance. If you haven't seen them, I encourage you to check them out.
      • Counting Down Part 1: Acceptance
        I spent three days last week living and lecturing in a casino hotel. There were tons of people smoking, drinking and sitting intently hunched over slot and video poker machines. Some of them had been there for hoursmaybe daysmindlessly putting in money and pressing buttons. Others wandered aimlessly through the casino, stopping to watch this or that and then moving on to somewhere or something else.
      • Back to Basics
        Of all the brilliant updates sent out over the past five years by John Lansing, founder of, these words are among the most critical: Your first investment: a 79¢ Notebook
      • To Sell or Not to Sell: Part 2
        Last week’s true story of Peter, Paulie and Mary continues to be a convoluted and cautionary tale. You may recall that Peter bought a stock and then watched for five years while it lost 50% of its value and then came back to break even. Mary was outraged when she learned about this, and felt that she could no longer trust Peter.
    • October
      • To Sell or Not to Sell: Part 1
        One glorious autumn day, Peter and his wife Mary took their dog Paulie out for a walk through the local park. After a while, the elderly couple sat down on a bench to rest and watch the dog play in the dog park. Peter, who was passionate about the stock market, immediately took out the paper and thumbed through to the financial pages. Mary was used to this, so she really didn’t mind that he ignored her. After all, the money that Peter was investing was both of theirs, and she knew that reading those pages with all the “funny numbers” on them was part and parcel of was Peter was doing to help grow their meager retirement account, now that they were both subsisting on Social Security.
      • Regret
        How many times have you asked yourself this question, “If I had this trade to do over again, what would I change?” As much as you want the answer to be, “I would do it completely differently,” that is not the right answer. The right answer is, “I would do it exactly the same way.” I realize that this may sound extreme and counterintuitive, so I will attempt to explain the reasoning behind this.
      • Seeing Green: Part 1
        Little did I know when I wrote “The Man in the Green Bathrobe” how soon I would be re-visiting this most interesting color. This time, however, it’s not about green bathrobes. This is about the color of money, specifically the money that is literally pouring into the portfolios of subscribers to Every day I hear from someone in our family who is making “more money than I have—EVER!”
      • Red Ink
        One of the most common challenges that traders face is how to come back from a string of losses. I know this feeling very well because for the first three years I traded, I was drowning in an ocean of red ink. I subscribed to a number of newsletters and listened to any number of market pundits. In short, I was searching for the Holy Grail. It was only when I realized that the search had to go from the external to the internal that my trading started to turn itself around. There was less red ink (losing trades) and more green ink (winning trades) and blue ink (scratch trades). Although I no longer color-code trades, I have those early journals to remind me that the path to trading success is littered with red ink.
    • September
      • Edge: Part 1
        As John Lansing and I have been sharing with you for many years, technical analysis is about plotting emotions on a grid. The trader who is able to grasp this concept is going to be ahead of the pack of traders. Markets move on emotion as traders trade their money and beliefs. Markets are made up of human beings, and human beings are emotional creatures. There is no way to get around this. Anyone who tells you to trade without emotions is denying one of the essential elements that separates losing traders from winning traders.
      • Hubris Made Me Do It
        This week, I am following up on a Trading Wisdom from February 11, 2007, titled "The (Over) Confidence Game." I think it is important at this time because of what we are seeing in the markets. Wednesday was the most powerful rally of 2007, fueled by Tuesday’s decision by the Federal Open Market Committee to lower its target for the federal funds rate by 50 basis points to 4.75% and also to lower the discount rate by 50 basis points to 5.25%. This caught investors off guard.
      • Herding: Part 2
        Decisions about trading and investing bear many similarities to decisions made outside of the markets. Human beings make decisions in the context of numerous societal factors, not in isolation. In this regard, we are functioning less as individuals and more as a social collective.
      • Herding: Part I
        Financial neurobehaviorists describe herding as the condition where a large number of investors or traders make the same choice based on the observations of others, independent of their own knowledge. In the markets, herding occurs when either positive or negative feedback prevails.
    • August
      • Decompression
        The thrills, chills, ups, downs and all-arounds that market participants have experienced this week are unprecedented. If you felt like you were on a roller coaster or at an amusement park, you were not alone. Naturally, it doesn't feel all that great when you see large shifts in your portfolio from day to day and are either panicking at the lows or getting bullish at the highs. It's an upside-down, news-driven market that is hanging on every word from the Fed. Perhaps it has always been this way, but for some reason, this past month has "felt" different. The markets abhor uncertainty and we have had more than our share of it in recent weeks.
      • Exquisite Risk: Part 3 of Many
        To put things into better perspective, we look again to historythis time to 1738 and a Swiss mathematician and physicist named Daniel Bernoulli. Bernoulli was the first person to introduce the concept of “utility” to the area of decision-making. In doing so, he differentiated between the price of something (which is pretty much the same for everyone) and the usefulness or utility of something (which is highly dependent on individual factors).
      • Exquisite Risk: Part 2 of Many
        The conflict that traders experience each time they put monies into the market is to balance risk and expectation. The real conflict has to do with calculated risk. Do you bet $100 to make $100 or do you bet $100 to make $500? Everything is risky, and risk is everything. The most successful traders know that they are one trade away from ruin, and focus constantly on ways to embrace risk by managing it.
      • The Sad Tale of Trader Dale (Part 2 of 2)
        In last week's Trading Wisdom, we began this story with the The Sad Tale of Trader Dale Part 1, and I left you with Dale's letter to me. Today, I close the story with my reply.
      • The Sad Tale of Trader Dale (Part 1 of 2)
        The tale of Trader Dale (for confidentiality, I've changed his name) discusses the real-life fears and difficulties of one trader who represents the experiences of many. As you may know, these can be an emotional roller coaster, so talking about it in abstract terms tends to fall short of showing just how important and real these lessons are. So I've decided to show you a glimpse of the correspondence between Dale and myself, so you can hear in Dale's own words and responses to mine what he went through and see for yourself how it relates to your own trading situation.
    • July
      • Exquisite Risk: Part One of Many
        Years of trading and educating hundreds of traders have taught me that the single most important synaptic strategy in trading is the ability to cut losses. This must be done in a ruthless, relentless and unemotional manner. If you do not program this into your trading strategy and etch it into your brain game, you are at risk for ruin. These words must never leave your mind if you want to be successful as a trader: Unless I cut losses and stay with my strategy, I am at risk of ruin.
      • Coulda, Woulda, Shoulda (Part II)
        Imagine that it’s a rainy day, and you are riding in a crowded elevator from the top of the tallest building in Seattle. Suddenly, the elevator stops moving and the people around you become frightened and uncertain of what is happening.
      • Coulda, Woulda, Shoulda (Part I)
        Tom and Jerry met in high school and almost immediately became best friends. They did everything together, including basketball, morning runs, double dating, studying and just hanging out. Although there was some subtle tension between them, much like in most friendships, they told each other everything and were inseparable. Then their forays into the stock market changed everything.
      • Healing Truth
        Many years ago, during my medical training, I learned a valuable lesson. There was a patient who came into the Emergency Room with a somewhat mixed bag of complaints. The doctors did some tests and could find nothing wrong with her, so they sent her home. Two weeks later she came back with the same symptoms. Once again, the doctors put her through a variety of tests and could find nothing wrong with her, so they sent her home again. The third time she came into the emergency room with the same symptoms, she was sent to see one of the oldest doctors on staff, Dr. Nelson.
    • June
      • Why We Can't Wait
        One of the fables of Aesop tells the story of a farmer who came into possession of a goose that laid golden eggs. The story appears in many versions, but the ending is the same. The farmer became impatient and greedy because the goose was not laying enough golden eggs. Unable to wait any longer for the golden eggs, the farmer killed the goose to get all of the gold at once. To his anger, there was no gold inside the goose.
      • Detach from Outcome
        The majority of traders end up losing money because they have not grasped this simple concept: Preservation of capital is Goal Number 1. Simply put, if you are out of money, you are out of the great game of trading until you can find more money to get back into the game.
      • Volatility 101
        Volatility is the tendency for prices to change in an unexpected manner. The two major reasons for this change are responses to some new information about value of a traded security (fundamental volatility) or responses to the demands of traders for liquidity (episodic volatility).
      • Finding Ground
        Every trader and investor dreams to be able to sit calmly amid the noise and fury of the markets and make decisions which come from a state of deep repose and tranquility. Although challenging, this is a possible dream, and here are some good places to start. Remember that this will not be easy, but it will reap great rewards for you in every aspect of your capital—financial, mental, physical, emotional and spiritual. It takes a lean and steady horse for a long race, and trading success is a marathon, not a sprint.
      • Belief
        Never in the history of mankind has it been easier for people to tap into the markets. These people visualize themselves as sitting in their pajamas, making trades from home and earning a really good living. Moreover, trading goes on all over the world, and people can buy and sell at almost any time of the day or night. So why do so many traders fail?
    • May
      • The Beach
        The Memorial Day holiday is upon us, and it’s time for rock ‘n’ roll, rest, reflection and relaxation. In trader language, we have the phrase “going to the beach.” It’s a simple concept that has meaning for each of us in and out of the markets. It is about stepping back, walking away for a while and putting things into perspective.
      • For All We Know
        The markets are speaking, just as they have spoken for the last several hundred years, from Dutch tulips in the 17th century to virtual booksellers and virtual second lives in the 21st century. The challenge, as always, is to understand the language.
      • Back to Biases
        Following last week’s Trading Wisdom on decisions and decision-making, it is time to put on our financial neurobehavioral hats and learn another thinking bias.
      • Decisions, Decisions, Decisions!
        Trading and investing are all about making decisions. Traders trade their money and their beliefs against other traders. Markets move because millions of people are making decisions, and millions of people are making decisions because markets move. Thus, volatility is the result of millions of people making millions of decisions every day. This week’s Trading Wisdom is an introduction to the complex and fascinating area of decision-making. I will start with the basics and take you further into this over the next few months.
    • April
      • The End of Worry
        Sit back and allow me to share with you a counterintuitive way that you can improve your mental and physical health by cutting down on the amount of worrying you do. As most of you have noticed, the RST pattern is one that is suited perfectly to worry, and now that we are near the top of the triangle, you have an opportunity to review your own thoughts, feelings and actions as they played out through this pattern.
      • Angst, Anxiety and Adrenals
        Two weeks ago, I told you that I would tell you specific steps to take in order to minimize the amount of worry in your lives. Before I do that, I want to tell you a little more about worry, how it differs from fear, and the destructive effect it has on body and mind.
      • Chicken or Eagle?
        In last week's Trading Wisdom, "It's Always Something," I told you I would provide some ways for you to minimize the amount of time you spend every day in the totally useless process of worrying.
      • It's Always Something
        One of the common ways that traders and investors sabotage themselves is through worry. It seems there is always something to worry about. Even if there isn't, we scurry around looking for something. Many of us are driven by the need to read everything, interpret every piece of news, wait for the next tragedy to happen or scour the media for anything that reinforces how bad things really are.
    • March
      • Heads and Tails
        I promised you that 2007 would be a year for you to learn about cognitive biases. I know—it sounds a bit daunting—but, at the heart of these cognitive (thinking) biases, are all the mistakes you make as a trader and investor. So, I really can't let March go out like a lamb without telling you yet another way in which your brain tries to mess with your trading.
      • Health and Wealth
        Time after time, through years of coaching traders of every ilk, I am struck by a repeating theme. Trading to mastery requires a person to grow and strengthen in at least five areas: mental, emotional, physical, financial and spiritual. In order to trade in a consistently profitable way, the trader must have all of these elements working in a unified and holistic manner.
      • Dollar Delusions
        After the markets fell in the spring of 2000, when the NASDAQ dropped almost 40% in two weeks, there was a wonderful piece in the New Yorker, written by David Owen. Although satirical, the message of this piece is powerful. I am acutely aware that many in the markets over the past two weeks have asked themselves the question posed by Mr. Owen: "What happened to my money?"
      • Renew and Refresh
        The opening quotation says it all. I can't think of a better way to describe what has gone on in the markets this week. Volatility has returned and returned with a vengeance, catching quite a few people napping and complacent. Volatility is basically an indicator of emotionality. I call it the lunacy indicator.
      • Dope
        The brain systems which mediate these pathways are related to dopamine (in the case of pleasure-seeking) and serotonin (in the case of avoiding loss). Recent studies utilizing fMRI (functional Magnetic Resonance Imaging) techniques in the brain have shown that dopamine pathways (concentrated heavily in the primitive rat brain) tend to go "quiet" in the face of losses, and become active when presented with rewards or the promise of rewards.
    • February
      • Time Takes Time
        There has been so much excitement about the run-up in gold and other commodities that many of us are at risk of forgetting about our most valuable commodity. There is a saying that excellence in trading is more a factor of time in the market than timing the market. That is a profound statement, as it speaks to the issue of what it takes to achieve trading and investing mastery.
      • Flow
        I got home from the grocery store the other day and decided to write a Valentine's Day Trading Wisdom. How could I not be inspired by the all the excitement, with hordes of people roaming around shelves of gorgeous red and pink flowers, candy hearts, talking stuffed toys and "I Love You" balloons? So I ran home, started to write, got out the first four letters of the word "flower" and stopped.
      • The (Over)Confidence Game
        There is something I need to tell you tonight that some of you may not like to hear. Many people have told me again and again how much they know, when it is clear that they don't know as much as they think they know. Or, as I put it when discussing the levels of competency, "They don't know that they don't know, and they don't know what they don't know." Some of them have called me "less than courteous" for even mentioning this.
      • So You Think You Can Trade?
        OK, I fudged the title from the TV sensation "So You Think You Can Dance?" I am also responding to a request posted on the Trading Wisdom message board on Ask and ye shall receive, so keep those posts and questions coming! Having been a dancer since age 5, I actually thought I could dance! That was before I watched these amazing young dancers battling it out week after week, one by one falling down, getting up, getting safe and getting booted.
    • January
      • Throwing Darts
        If there is one thing that gurus and want-to-be gurus take delight in, it is predictions. Day in and day out, there is always someone, somewhere who has it all together and has no end of words, charts, indicators, seasonals, almanacs and every other conceivable scenario to tell you: where the market is going, why it is going there, when it is going to get there, and what specifically to do about it.
      • Hooked
        It has been going on now for over 25 years of my professional life. Year after year, the faces change but the song remains the same. Some traders do magnificently, continuously grow their equity and strengthen all aspects of their capital. Others go through highs and lows and end up with mediocre performance at best. Many of these leave the markets and do not come back.
  • 2006
    • December
      • The Man in the Green Bathrobe (Part II)
        This is the only known roulette fable (and some in Vegas say it actually occurred, but who knows since what happens in Vegas stays in Vegas?) that has direct application to the burgeoning, fascinating and often confounding field of behavioral neurofinance. Whose money was it? It was the man in the green bathrobe's money, of course. He won it by just sitting on 15 and he kept sitting and hitting on 15 until it didn't work anymore. It was not the house's money.
      • The Man in the Green Bathrobe (Part I)
        A bunch of my very best traders are hopping a plane to Vegas for the holidays. As if they haven't had enough flashing lights, bells and whistles going off on their monitors for the whole year, they want more. But it's been a pretty good year, so why not just go for it! And they will, of course, but not until I tell them The Legend of the Man in the Green Bathrobe.
      • The First Three Minutes
        What you say to yourself is more powerful than anything anyone says to you. The way you talk to yourself is crucial because your brain is not only speaking, but also listening and learning. Thoughts determine actions through a process called entrainment. Entrainment is just a fancy word for what the psychologist William James described over a hundred years ago. He said that if you form a picture in your mind of what you would like to be and keep reinforcing it day after day, you will become what you think.
    • October
      • Halloween Potpourri
        Day in and day out, our brains are under siege. Accelerating speed of technology and almost instantaneous transmittal of information across the globe is changing the way we live and way we think. We are becoming information junkies in several ways. First, we are addicted to information, can't get enough of it, need new and newer and more detailed information in order to feed the greed for it.
      • Noise
        The Pareto Principle, sometimes called the 80/20 Rule is something traders must heed, both in the markets and in life. Originally, the Principle was a mathematical formula created in the early 1900's by Italian economist Vilfredo Pareto, and was use to describe the way in which wealth was distributed unequally. In essence, he calculated that 20% of the people possessed 80% of the wealth.
      • The Death of Denial
        Why do we run from the truth? What makes us close our eyes and bury our heads in the sand rather than face what appears to be a harsh reality? Why are we compelled to cling to dysfunctional relationships and losing stock positions in the midst of increasing drawdown of our mental, emotional, physical, financial and spiritual capital?
    • September
      • The Biggest Blunders Investors and Traders Will Make in 2006 and 2007 (Part 10)
        Are there more than Ten Blunders? Of course, and I could go on and on about them ( and promise that I will in my Monthly Trading Wisdom!). However, I have attempted to capture the essence of the greatest errors traders and investors have made from the dawn of trading and that they continue to do day after day.
      • Hi Everyone!
        It has been a while since I have spoken with you and John has asked me to be with you for in the Trading Room for the first two hours of the market on Thursday morning. Naturally, I said "Yes!" Why? First, because John very much needs to take time out to deal with matters which have been occupying him and adding un-needed stress to his life. In order to trade and guide you effectively,
      • The Biggest Blunders Investors and Traders Will Make in 2006 and 2007 (Part 9)
        We see warnings about risk in the markets: There is a risk in all trading, only trade with money that you can afford to lose, there is a risk of unlimited losses in trading futures, and so on. Disclaimers about risk are everywhere, and it is my contention that people are almost oblivious to them.
      • The Biggest Blunders Investors and Traders Will Make in 2006 and 2007 (Part 8)
        This blunder is deceptively simple because most people, when questioned, will tell you that they totally believe in themselves and deserve to be successful as traders.
      • The Biggest Blunders Investors and Traders Will Make in 2006 and 2007 (Part 7)
        Our society is driven increasingly by the need for speed and incessant movement. As such, we are becoming increasingly dopamine-driven and psychophysiologically destabilized. What does this mean to you as a trader, investor and human being?
    • June
      • Are You Smoking Crack or Trading?
        Our brains are hard-wired for immediate gratification. This is part of what drives us to get up early every morning, scan the markets for setups, go into trading rooms waiting for a cue to do something, going from newsletter to newsletter looking for the Holy Grail, the hot tip, the trading system or whatever it is that will bring you money right away.
      • Tatt Syndrome
        Western societies are sleep deprived,and, as a result people, are becoming clumsy, stupid, unhappy and dead according to Dr Stanley Coren (author of The Sleep Thieves). Social observers have coined the term TATT Syndrome to describe people that are Tired All The Time.
    • May
      • Lessons from Aesop
        Once upon a time there was a hare who, boasting how he could run faster than anyone else, was forever teasing tortoise for its slowness. Then one day, the irate tortoise answered back: "Who do you think you are? There's no denying you're swift, but even you can be beaten!" The hare squealed with laughter.
    • February
      • How to Ride A Bull
        Hi Everyone! It has been a month or so since I have written to you, and most of you know why. For all of our new subscribers, please be aware that I have been in intensive preparation for The Quantum Wealth/Quantum Living Seminar. The first seminar was January 6-7, was completely sold out and an amazing success. The final presentation is February 24 and 25, and is nearly sold out.
    • January
      • Just Do It
        Below is a summary of the "Alerts" on stock and option trades issued by John over the past 2 weeks to be "closed out" most near the lows on Thursday 10/13/05 last week and the rest the week prior. 4 option trades also closed out(see 2nd table below) on Thursday 10/13/05. (We still have a few open trades with 3 new positions issued on Friday 10/14/05 that we will discuss in other updates, no new trades from Friday 10/14/05 are listed below).
  • 2005
    • December
      • How to Become an Overnight Success as a Trader
        It is not going to happen unless you are a trading savant. I don't know any trading savants, so, if you are one, please write to me? No matter how educated, intelligent or confident you are, every single person who wants to be a self-directed and successful trader must progress through four very distinct stages in order to get there.
        If you take a position, there are a lot of critical elements...entry, exit, stop, market conditions etc. But, among the most critical is time frame. If you are daytrading or scalping, then it is imperative to be in the markets, watching every tick of your stock trade. If you are not, then why bother?
      • Our Addiction
        It is no secret that a lot of what goes on in the minds of traders falls in the category of addictive behavior. No matter how you say it...many traders are addicted to the markets. It can be the red and green blinking screens all day, the neurochemical brain changes (addiction to serotonin, adrenalin or dopamine), an addictive need to always be trading, addiction to the noise and information which bombard you every day in tachistoscopic fashion.
      • Change
        The important thing is this: To be able at any moment to sacrifice what we are for what we could become." Charles Dubois I am totally fired up! I have more enthusiasm and excitement about trading and coaching traders than I have felt in several years.
      • Trading Wisdom Helpful Lessons Stock Trading Change
        The important thing is this: To be able at any moment to sacrifice what we are for what we could become." Charles Dubois I am totally fired up! I have more enthusiasm and excitement about trading and coaching traders than I have felt in several years.
    • August
      • Katrina
        The words and images coming out of New Orleans and the rest of the devastated Gulf Coast make it clear that Hurricane Katrina will rank among this nation's worst natural disasters. With estimates that thousands may have died, Katrina could be the worst U.S. disaster since the San Francisco earthquake killed up to 6,000 people in 1906. It could approach the nation's worst disaster - the 1900 hurricane that wiped out Galveston, Texas, killing 6,000 to 12,000 people.
    • July
      • Meals for a Lifetime
        This week, I want every member of our family to take a baby step forward on the path to trading success and riches. This is simple, but it may not be easy. Are you up for it, or are you content to sit back passively like a weary dog waiting for someone to throw you a bone?
      • Addiction to Perfection
        One of the great evils of trading is false exactness...Trading is a fuzzy process and I mean fuzzy in the best sense of the word. That is, as in fuzzy logic, as in the willingness to accept the idea that things aren't exactly quantifiable and to forge ahead anyway....John Bollinger (creator of the Bollinger Bands) Trading is not about perfection.
      • Occam's Razor (aka KISS)
        Your brain is out to get you. Your brain is so highly complex with multiple reverberating circuits and connections that you can literally think yourself into or out of any situation. Your brain lies to you night and day in the most convincing and deceptive ways imaginable.
      • Kansas City Chaos Turns to Productivity
        We came to Kansas City, armed with computers, agendas, energy and the determination to come together as the team in order to streamline and evolve our service in the best possible way to maximize profit potential for you--> "our subscribers."
    • June
      • Revolving, Insanity and Staying With What Works
        Every Sunday, my friend waits for the 8 pound newspaper to be delivered, so that she can spend hours pouring over the ads and colored fliers, looking for a new reduced-price house to buy. Several hours later, she and her husband fill up their oversized SUV with price-gouged gasoline and drive around this 1000 square mile city looking for a house.
      • The Windmills of Your Mind
        Trading is a mirror of almost every aspect of your life. If you are thinking or behaving in an undisciplined or unorganized way when you are not trading, you will trade in an undisciplined and unorganized manner. Without discipline and rigorous attention to detail, you will not be able to trade successfully.
      • The Scorpion and the Frog
        Aesop's Fables No matter who you are, how intelligent or how much education you have, if you keep doing the same thing over and over again, expecting different results, you are suffering from the most insidious form of insanity. This is self-delusion of the highest degree. Years ago, when I first started to trade, I was so optimistic that I could make money consistently.
    • May
      • Your Rat Brain Is Out to Get You
        People are neurotic and the markets, since they are large collections of people, are also neurotic. We are neurotic because we are in constant conflict with ourselves, specifically as regards our brain structure. In the simplest of terms, we have two brains- and old brain and a new brain. The old brain is primitive, lies deep within the new brain and has been around for at least 100,000 years.
      • Your Emotions Are Your Enemy, So Get Over Yourself!
        One of the most difficult aspects of trading in today's market is handling your emotions. For many months, we have struggled through a market and an economy that seem intent on remaining an emotional yo-yo. To say "don't get emotional" is pointless. Everyone is emotional about money.
      • The Wolverine Way
        I have lost track of the number of times I have told traders to "MAKE YOURSELF STRONG." There are five aspects to making yourself strong: physical, mental, emotional, spiritual and technical. I will have a lot to say about each of each in future Trading Wisdoms. But, I thought today you might like to know which animal possess the best qualities to be a successful trader.
      • You Are What You Believe
        Beliefs of Successful Traders 1. The markets provide a constant stream of opportunities. 2. If I miss an opportunity, another one will soon follow. 3. If the position is stopped out, then I need to reconsider the trade. 4. I trade one trade at a time, and stay in the present moment
      • Trading Discipline
        Develop Consistency - You can create a mindset of consistency by developing beliefs which support you in obtaining this result. In order to develop consistency, there are a number of things which you must do, including identifying your edges, defining the risk in each trade in advance, and accepting the risk to be able to exit a position when a defined loss level is realized.
    • April
      • How to Control Your Trading Risk - Part I
        What is your biggest problem with your trades? I’ll bet it is not your stock picks or the entry. Let me guess…it’s your losses. The way to reduce the long term effect of the losses is with proper money management. Money management is the most neglected, and the most important aspect of trading any market.
      • The Boy Plunger/Great Bear
        A loss never bothers me after I take it. I forget it overnight. But being wrong - not taking the loss - that is what does damage to the pocketbook and to the soul...Jesse Livermore Jesse Livermore, perhaps the most famous stock trader in history has been chronicled in Reminiscences of A Stock Operator and in several less well know books by Richard Smitten. Livermore made millions during the great stock crash of 1929( thus his nickname The Great Bear.
      • Three Blind Men and the Markets
        A Hindu folktale tells of three blind men encountering an elephant. "It's a tree," says one, stroking a leg. "No, no, it's a snake," says another, feeling the trunk. "No, this must be a house," insists a third, spreading his arms against the bulk of the elephant's body. All three had a different perception of the elephant based on the part they examined, and all three conclusions were wrong.
    • March
      • The Markets Giveth and the Markets Taketh Away
        Days like today can be demoralizing to traders who see profits disintegrate, stops hit and stocks under distribution. It is precisely at these times that we must "steel" ourselves, and not give up in disgust and self-loathing. Your emotions are your greatest enemy on days like today. The markets giveth and the markets taketh away.
      • Are You Burned Out or on the Verge of Burnout?
        The term "burnout" is used frequently among traders, but few understand what it really is or what to do about it. Here are the 13 most common symptoms of burnout in traders.
      • Market Manipulation
        Let's talk about market manipulation. Let us assume that the markets have always been under the influence of manipulation, and the only thing that has changed it that we now have the mechanisms/tools with which to discern this. Pick any doesn't matter if it is stock, bond, currency, commodity or anything else that trades on the major exchanges.