How You Can Benefit from Trader Psychology

After many years as a trader and an observer of trader behavior in the futures markets, I am convinced that a trader must know which behaviors must be changed to achieve consistent success. A trader must also know which new behaviors must be learned to replace dysfunctional or negative behaviors. While I could easily bend your ear with lists of suggestions and observations, I think that the better approach is to share with you the knowledge I have acquired through the analysis of a series of...

Ail Interview with Welles Wilder

What precipitated your desire to trade, and when In the beginning, I didn't have a desire to trade. I came to the futures market in search of a way to buy silver utilizing the greatest leverage. That was in 1970. When it became apparent that the same leverage was available in other markets, then I began to trade other markets also. What qualities do you feel contributed most to your success as a trader Patience, tenacity and a realistic expectation of profit. Do you use specific techniques for...

My Time Tested Procedures

I cannot overemphasize that great traders are great because they have mastered the discipline of trading as well as its mechanical aspects. I've placed great emphasis on discipline. Since discipline is undoubtedly the weak link in George was overjoyed to grant me the interview since he always has something to say and is always willing to share his point of view in the hope that others will benefit. Many years ago George was referred to as crazy like a fox. Indeed he is just that. Behind his...

Interview with Bruce Babcock

What precipitated your desire to trade, and when In 1975,1 changed stockbrokers. I was 32 years old at the time, single and a federal prosecutor by profession. My new broker thought my financial profile wou Id allow me to speculate a little more. He suggested I trade some commodities. He told me that an associate in his office was a pretty good trader, that he would follow his ideas. I said, Fine. My first trade was in potatoes, although, truthfully, 1 can't remember whether I won or lost....