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Essence of Trading

iStock_000016175517XSmallWritten by Lawrence Chan
Copyright 2012-2014 All Rights Reserved

Essence of trading refers to the roots, the key ingredients, and the spirit that one needs to be successful with trading. It is a collection of my thoughts on these important aspects on trading.

Trading is not just the means to make a profit. As a trader risking your own money also means a unique perspective in things all around us. That makes us somewhat different from the rest of the crowd.

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Self Improvement Starts From Studying Yourself Literally

I have worked with many people in improving their trading performance. I have also worked with people to improve other areas in their lives. Leaving the more technical psychology stuff aside, one thing that stands out in those people who can help the ...

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writing your trading plan daytradingbias.com
Writing Your First Trading Plan

One cornerstone in achieving trading success is the completion of your trading plan. I am not talking about a vague idea you have in place on how you engage the market. I am talking about a solid written plan that describe all aspects of your trading ...


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I have seen all kinds of metaphors about traders who can make money from trading all kinds of financial markets. For example, many traders like to think of themselves as some kind of martial artists including ninja, samurai and karateka. There are al ...

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Why Traders Fail To Follow Profitable Mechanical Systems

One of the questions I often receive from traders is that they have bought (or leased) certain well known trading systems yet they cannot make money trading them. Of course, some trading systems are just outright useless. The rare good ones, however, ...

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What Is Day Trading Bias?

Many people wonder why I name my website DaytradingBias.com and not something else with a catchy phrase involving Emini S&P or Forex. First, I was not web savvy enough back then to recognize that it is better to name a site with a catchy phrase s ...

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The Little Secrets Behind Traders Who Turned Around Their Trading Careers II

Many retail traders started their trading adventure because of the financial potential. During their journeys through the maze of the learning process, however, that dream of financial freedom slowly fade away and often replace by setbacks and pains. ...

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The Little Secrets Behind Traders Who Turned Around Their Trading Careers I

When beginner traders look for role models in trading, they often think of the big names in hedge fund industry or legendary investors who accumulated billions in their lifetime. Such idolization of great traders or speculators is actually doing more ...

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Do You Know What Trading As A Business Really Mean?

People talk about trading as a business all the time as if it is a golden rule to trading success. The truth, as usual, is far from it. This dilemma I learned many years ago from someone who took his trading very seriously and planned one day in beco ...

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A Big House, A Nest Egg And A Few Triple Bypass

Past few weeks I was visited by many friends and relatives due to loss of my significant other. Many I have not seen for years. Some others, I have never heard of their existence until now. It is a very odd experience. It still hurts inside and I am ...


I Can Never Understand The Central Bankers

I am puzzled by the latest round of statements from the central banks. If these words were coming from a trader or a financial analyst, it is expected. When such statements come from central bankers, it is disturbing. Like Some People To Act Stupid ...


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