The Three Biggest Mistakes Traders Make VOL 2
Expert: Brendan Moynihan
Expert: Jim Paul
Type:
Video
Running Time:
115 minutes
Availability: Now
Average Rating:
Why a Seminar about Mistakes?
It has often been said that we learn more from mistakes than from successes. But traders tend to focus on, and are fascinated by, success – especially the success of others. Unfortunately, the advice these pros offer on how to make money is often contradictory.
People lose money in the markets either because of errors in their analysis or because of psychological factors which prevent the application of good analysis. Most of the losses are due to the latter.
All analytical methods have some validity and make allowances for the times when they will not work. But psychological factors can keep you in a losing position and cause you to abandon one method for another when the first one produces a losing position.
Most discussions of the psychological aspects of the markets focus on behavioral psychology or psychoanalysis, i.e. sublimation, regression, suppression, anger, self-punishment.
This isn't to say such approaches aren't instructive, it's just that most people find it hard to digest and apply the information presented. But more importantly, such approaches are trying to change your natural psychology – a difficult, if not impossible, task.
This two-DVD video seminar with an easy-to-follow workbook takes a different tack. It entertains and educates you on the psychology of market losses using layman's terms, anecdotally, through the story of a former Governor of the Chicago Mercantile Exchange who actually lost over a million dollars in the market.
Chapters
- Beginning
- I Guarantee It
- Mistake #3
- Emotions
- Views of the Crowd
- The Life Insurance Trade
- The Crowd by Gustav LeBon
- Hope/Fear Paradox
- Mania & Panic
- Decision Making
- The Plan
- Objectivity
- Questions from the Audience
- Technical or Fundamental?
- No Quote Machine
- It's Not Hard
- The Bumble Bee
- The Great Bear
- Become Inhuman about the Loss
- The Fish Test
- Testimonials
- 10 Trading Rules
- Final Word
About The Expert
Brendan Moynihan
Brendan Moynihan, a foreign exchange trader at First American National Bank (now AmSouth) in Nashville, Tennessee. During his ten-year career in the investment business, he has been a bond market and currency market analyst, a commodity trader and a cash government bond trader. He has also been a hedging and trading consultant for banks and brokerage firms. Brendan has written "What I Learned Losing a Million Dollars". Read the first chapter of the book, and see what other top guru's are saying about his book here: http://losingamillion.com/
Jim Paul
Video presenter Jim Paul is First Vice President in charge of the Morgan Stanley Dean Witter & Co. International Energy Unit in New York City. During his twenty-five year career in the futures industry, he has been a retail broker, floor trader and research director, and has served on the Chicago Mercantile Exchange Board of Governors and the Executive Committee. Jim has seen it all and will share with you his experience.
