Lamothe Michael. The Trading Mindwheel: Eight Essential Skills for Trading Mastery

John Wiley & Sons, Inc., 2023. — 242 р. — ISBN 978-1119868255.An incisive and actionable guide to trading success.In The Trading Mindwheel: Eight Essential Skills for Trading Mastery, Michael Lamothe delivers a hands-on and practical roadmap to personal investing success. In the book, you'll explore the belief systems, mindsets, and market psychology you need to master to maximize your investment returns. You'll also learn to analyze trades, markets, and risk as you manage your portfolio and continuously improve and validate your own skills.To stay on track, perform at our best, and achieve the results we're after, I find it best to:
• Develop clear goals;
• Develop plans to meet those goals; and
• Focus doggedly on consistent execution of those plans toward those goals.We'll discuss each of these—goal setting, plan development, and execution—in detail in later chapters. For now, think of goals as you would think of putting an address into a GPS. The more specific we are, the easier it will be for us to get from where we are to where we want to go. With clear goals, even when life puts up roadblocks and we get knocked off track, we can still find our way over, around, or through to get back on track.You may find some of the exercises in this book to be easy, some of them hard, some of them quick, and some may take a while. All of that is okay. All of that is part of the journey. What I promise you is that it will all be worth it, and your efforts will be well rewarded in ways you may never have imagined.In this book, we're going to leave no stone left unturned. I'm going to share with you everything that has led to my personal success and the success of the thousands of traders I've coached and mentored through the years. I'm going to share with you the ongoing efforts, strategies, and tactics we use for continuous improvement.Maintaining success that lasts takes a certain level of tenacity and perseverance. I believe that we're all capable of this. That we all have it within us. And even if you're reading this and you're at a point where you're questioning if that fire within you has gone out, I'm here to let you know that it can always be rekindled, relit, stoked—and it can grow!You'll also find:
Ways to use journaling as a roadmap to continuous personal improvement Strategies for using post analysis to validate your own skills and trades Methods for managing individual trades and portfolios in a way that limits relevant risks A can't-miss resource for anyone interested in trading, investing, finance, and personal wealth,The Trading Mindwheel: Eight Essential Skills for Trading Mastery belongs on the bookshelves of people seeking to build wealth.Contents:
Foreword – By Mark Minervini
Introduction
THE AXLE: MINDSET: Beliefs, Belief Systems, Emotions, and Habits
SPOKE 1: JOURNALING: Step One of Accountability and Continuous Improvement
SPOKE 2: ANALYSIS: Analyzing Trades and Markets
SPOKE 3: RISK: Initial Capital Risk, Position Sizing, Potential Reward
SPOKE 4: TRADE MANAGEMENT: Managing Risk throughout the Life of the Trade
SPOKE 5: PORTFOLIO MANAGEMENT: The BIG Picture and Assessing Our Total Risk
SPOKE 6: POST ANALYSIS: Step Two of Continuous Improvement
SPOKE 7: TESTING: Factor Modeling, Back Testing, and Forward Testing
Conclusion
Acknowledgments and Inspirations
About the Author
Index