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  An important key to psychological change is turning desired patterns of thought, feeling, and action into positive habit patterns.  We don't do this through motivation.  We do this by finding ways of being who we want to be every single day, with each day building on the next.  Over time, we internalize those changes:  they become natural parts of us. In short, paraphrasing Aristotle, we become what we consistently do. If I want to become a more caring, less self-centered person, I will perform an act of caring each day.  If I want to become a more disciplined trader, I will carefully plan my next trade and make sure it is grounded in sound research and understanding.  If I want to become a more energized person, I will incorporate into my morning routine something stimulating and meaningful. We climb the ladder of our ideals one rung at a time.  In what way will you be your best self today? What will you do today that you'll be proud of as you ...

  I have had a record number of people reach out to me asking for coaching help.  Why?  The majority have developed their trading in a bull market and have learned to buy market dips.  And so they have bought, and bought, and bought--and they have lost a lot of money in the past month.  In my view, this is not a problem of psychology.  It is a problem of not knowing how markets behave under different conditions of volatility, correlation, and monetary/fiscal environment. As you may have noticed from my recent post , I am quite the optimist and believe in the power of making fresh starts--in life and in markets.  To continue risk taking without knowing what you are doing, however, is not a formula for optimism.  We have to learn from our experience before we can benefit from it . So let's begin with two basic concepts of financial returns:  the average return over a period of time and the variability of those returns over that same period....

  Well, it's been about a three-month break from blogging and social media, and I have to say it's been rejuvenating.  In any life activity that is important, there is a time for stepping back, taking a good look at what you're doing, and making a fresh start.  When we make a fresh start, we can make major life changes, because we've broken old patterns and are now ready to build new, positive ones. Above we can see a picture of our newest rescue cat, Molly Ruth, who is a khao manee, a relatively rare breed of cat.  We found her in a shelter, afraid of people and cowering in a corner.  Her time in our home has been a fresh start for Molly and she has come out of her shell.  We can now play with her, and she has grown fond of the other three cats.  What she needed was new experience :  she needed to be safe and feel safe and just explore her environment.  As that has happened, her personality has blossomed. Sometimes traders become overwhelmed...