Doug Hirschhorn, PhD, is one of the premier peak performance coaches on Wall Street. His client list includes elite athletes as well as many of the largest banks, hedge funds, and financial institutions in the world. Dr. Hirschhorn is a regular contributor to CNBC, and has appeared on NBC's, Today; VH1's, The Fabulous Life; and currently hosts a weekly video blog for CNBC called, Office Hours with Dr. Doug. He is the author of Eight Ways to Great: Timeless Principles for Peak Performance On The Job and In Your Life and co-author of The Trading Athlete. Dr. Hirschhorn holds a PhD in psychology with a specialization in sport psychology.
Do you know why many traders fail to make more money? asks Dr. Doug Hirschhorn of DrDoug.com.
For now, the market really has no idea which direction it's headed. Is it a bull, or is it a bear? Are we set to take off, test new lows, or stay flat for the foreseeable future?
It's true, the markets can be frustrating, especially when there is a lot of uncertainty, and that can lead traders to lose patience, which is a classic portfolio killer and often leads to:
One of the most challenging skills in becoming a successful trader is maintaining objectivity in trades. While there are a variety of factors that contribute to you losing objectivity in a given situation, there is a clear and defined path you can follow to regain it.