41 – Bruce Bower on Peak Performance Trading
10 Aug, 2015 / By: Brandon Clay
Emerging market trader, Bruce Bower, shows us how psychology and plans play an important part in trading.
Bruce Bower is an emerging markets trader who has plied his trade in hedge funds in Moscow and London. Now he’s trading his own account. And he’s written about it on his blog, How of Trading and how to do it yourself with his book, Peak Performance Trading & Investing. We had a very useful discussion for newer traders, especially on trading psychology.
Our content partner for this episode is the guys I’ve been telling you about over at Tradimo. They have a free trading school, perfect for newer traders. One of those lessons I just reviewed is on money management entitled “How much money do you need to trade?” It was a very helpful review if you have that question. And the lesson is free over at tradimo.com/learn – click on “money management’.
Now onto the program
Best Trading Advice
“When there’s nothing to do, do nothing”.
- Following the advice of those that came before you in the trading field
- Sticking to your trading plan
- What’s your trading methodology?
- Focusing on the process more than the results
- Keeping focused helps keep emotions out
- The mental aspect of trading
From the Trader’s Story
“Even if you have a plan it takes time to trust it and the best way to grow to trust just to learn how to stick to it”.
“You can’t become successful at (trading) if you don’t like it. You need the passion and curiosity to fuel you”.
“To some extent, our results are out of our hands”.
“The mental game is really one of the things that helps you take yourself from someone who is skilled and who knows how to do everything all the basic skills, to the next level”.
“If you are going to be a top performer in the markets then you should be using all of the tools you can to help you get to that next level”.
“Focus on how not to lose, instead of how to make big money”.
Newer Trader Resources
Other Resources Mentioned by Trader
Favorite Trading Book
One of the things I love about Bruce’s story is discovering where trading can take you. Bruce is from the US and has lived in the US, in Russia, and in London, where he still trades. Right now, he can live wherever he wants so long as there’s an internet connection and he still wants to trade. It’s so good to hear these inspiring stories on where we can go with this trading thing. At least that’s one of the reasons I’m doing this.
And by the way, if you’re looking for a little more info into how top traders trade, we’ve got a free resource over at TradingStory.com: our free ebook, “The Best Trading Advice from 25 Top Traders.” We’ve got Warren Buffett, Paul Tudor Jones, someone that Bruce Bower mentioned in his interview, George Soros, and many others. Just head on over to TradingStory.com/BestAdvice to get your free copy.
All the best!