Just in case anyone has any interest, I'm attaching the link to Dr. Reid's new Mastermind Prescription ($9.97 / month). I think it is a tremendous value for helping with the mental side of trading. I have no affiliation with Dr. Reid other than he has helped me quite a bit with my trading over the past several months (full disclosure: I bought his Winning Trader's Mindset materials and have had consultations with him via skype and e-mail). http://www.daytradingpsychology.com/mastermind/
You'll forgive me if I'm a bit skeptical. Two things. First, only 3 minutes a day? Of what? I hope it's more than only breathing and affirmations for $10 a month. Second, and I could be mistaken, but the good doctor got his degree from what appears to be a diploma mill.
So far there have been 4 videos which run from 3-minutes to 8-minutes in length. It's okay to be skeptical -- I am of most coaching stuff. I haven't been able to "identify" with most other coaches but I have found his materials and approach extremely helpful. With all of the expensive coaching stuff out there, the $10/month seems like a bargain to me to keep me tuned up so I just wanted to point it out to people as an option -- a lot better than shelling out hundreds or thousands of dollars, in my humble opinion. The videos do typically include affirmations at the end but the insights provided beforehand really help me process the issue. I'm not that worried about where he got his degree -- if someone makes you a better trader, does it really matter? Hopefully you can see that I have been on elitetrader for a while so I don't have anything to gain by this. Just figured I would throw this out there - maybe it can help some folks. Best wishes.
Hi formikatrading, how the masterming prescription helped you? Do you recommend the program yet? Thank you for your time
It's all about improving your trading mindset. I believe it's helpful but you have to to use it regularly -- meaning you can't just watch / listen to the video one time each week and expect it to make a difference.
Have you tried psychology books? I'm listening to Market Mind Games and Trader Mind currently hopefully these have some good tips.
I have read a lot of trading psychology books. Ward's "High Performance Trading" is worthwhile too. However, Dr. Reid helped me understand that great trading is really like being an elite athlete. And when you come at trading from that perspective, it's about preparation, mindset and discipline, which you don't necessarily need to get from a trading psychology book. In fact, I have found the biggest breakthrough for me was focusing on how to become the best version of myself -- which has involved a shift in how I approach everything in my life, not just trading. So listening to podcasts like "The School of Greatness" and "Success through Failure" have helped me more than trading-specific resources. As a result, I have developed better habits and routines for other parts of my life -- I'm now in the best shape of my life and the most organized I have ever been -- and this type of stuff spills over to your trading. Interestingly, it was easier to make changes in my trading AFTER I had made the changes in the rest of my life. In the past, I had tried to just focus on the changes to trading without much success.