Advertise on podcast: Disciplined Trading Strategies

The term averaging can be confusing for newer traders. In simple terms, it means entering a stock at one price and then adding more shares later, which creates an average cost basis based on how many shares were purchased at each price. Buying at higher prices is known as averaging up, while buying at lower prices is averaging down. In this episode, we take a deeper look at the pros and cons of the three different ways traders add shares to a position. These approaches I refer to as professional, risky, and deadly — and understanding the difference may be the key to avoiding a trade that never ends. Episode Resource: youtu.be/7eT7kjkq4NA?si=fDDXhv8t8KCkHclq Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

Due to the holidays, it's been an extra couple of weeks since my last podcast. This one actually came as an offshoot from the last DTS educational event I did in mid-December. That event was called A Fireside Chat at DTS and highlighted some of my favorite topics from the year. One of those topics had to do with the role of strategies and the misunderstanding of that role as it comes to traders. This podcast explains that very critical concept and also uses a great analogy foreshadowed by the title. Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

This one was inspired by many questions I received. In this episode, I break down one of the biggest trading demons we all face — FOMO. I talk about how fear, impatience, and the pressure to “catch the move” can quietly push us into overtrading and stepping outside our plan. I’ll show you how these emotions connect, how they trick even experienced traders, and what I personally do to stay disciplined when the market is tempting me the most. If you’ve ever chased a trade you knew you shouldn’t take, this one will hit home. Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

In this episode, I dive into the trap of judging trades by their results. Sometimes we get rewarded for doing something sloppy, and other times we take a clean, disciplined trade that just doesn’t work out. I talk about why a “good trade” might not be as good as it looks — and why a “bad result” might still be one of your best trades of the week. It’s a simple idea, but once you really understand it, it changes how you look at every trade you take. This is also a key reason for new traders to fail or struggle, tune in for the details. Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

Two podcasts ago, I talked about trading plans for the first time in this series. Now, it’s not because trading plans aren’t important — they’re actually critical — but they’re not always the easiest topic to break down in a podcast format. That said, I got a lot of great feedback and a few interesting questions, so in this episode I want to take a little time to follow up and dig deeper. If you haven’t listened to that earlier episode yet, it’s Podcast #68, “Trading Plans – Just Some Tips.” You might want to go back and check that one out first. Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

The Pattern Day Trader Rule essentially prevents people from day trading stocks unless they have a $25,000 balance. This rule was enacted in 2001 and was intended to protect traders. In my view, it has hurt those it has tried to help. This video explains why, and also what an opportunity it may open up for the average person. Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

In all this time, this is Podcast 68, I have not had a full presentation on trading plans. The answer is partly because I just haven’t gotten around to it yet, partly because the detailed topic of trading plans may not be best for a podcast, and partly because many people feel this to be a boring topic. However, it is among the most important topics. So listen a little even if you don’t want to.In all this time, this is Podcast 68, I have not had a full presentation on trading plans. The answer is partly because I just haven’t gotten around to it yet, partly because the detailed topic of trading plans may not be best for a podcast, and partly because many people feel this to be a boring topic. However, it is among the most important topics. So listen a little even if you don’t want to. Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

A while back I did a podcast that was simply titled “Time frames” which discussed some of the basics and what you may choose to focus on as a trader. This podcast is a little more advanced and based on constant questions I receive, so I will try to clear up some misconceptions about the differences in time frames and how we make money from the different time frames. If you are very new, by time frames I’m talking about the difference between long-term investing, which may use a weekly or monthly chart, to swing trading which typically uses the daily chart, to intraday trading which may use anything from a 60 minute down to a one minute or even a “tick” chart. Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

While on one hand this may seem like a fairly basic topic, I get a lot of questions that let me know that a lot of traders are confused about risk management versus trade management. I have talked specifically about the “risk unit” back in Podcast #35, and a lot of comments in general about trading management back on podcast #25. However, this podcast is devoted to discussing how they tie together and emphasizing how they both are critical for success and perhaps the true number one reason for failure. Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

Sorry about using one of those “top-five” titles. But that’s what this one is. It’s a new topic to discuss these as a group, but naturally each one of these may have had some partial discussion in prior podcasts. Here is the redacted list: Over xxx-ing…Dxxxxxxing Inappropriately…Risking amounts that xxxxxxxxxx…Listening to xxxx xxxx…Trading with xxxxxxx which leads to xxxxxxxx.Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

There is an entire category of comments you’re not likely to ever hear when you’re learning to trade. That is because they are unsavory and not things a lot of people like to talk about. That’s exactly why they can be the most helpful comments. I discuss these all the time. I have a fairly long list I will discuss in this podcast. It includes things like, as one example, dealing with losing trades, not just from a technical analysis perspective, that’s easy, but rather from a psychological perspective. Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

Some recent events and a new DTS Question of the Week email sparked several comments and questions that generated this podcast topic. I don’t want to describe it too much or I may ruin the effect of this podcast. I do want to add that perhaps I didn’t and with the correct concluding line. If it isn’t obvious, the conclusion is simply this. If you follow these misperceptions, it is a factual certainty that you will lose money. Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

While it is not normally the case, this podcast is a takeoff from an hour-long live DTS Educational Event I did last week. The reason I’m doing that is because this is what seems to be a very hot topic. Everyone has tons of questions about how these technologies may or may not affect traders, whether they are long-term or short-term, and whether there’s any way to benefit from them. Also this topic is one that is near and dear to my heart in terms of what I teach so deserves some special attention. Charts/Slidenotes: https://drive.google.com/drive/folders/1BoYWhrKH2kuDSn8kGQO6KsqMnoAhd1bM?usp=sharing Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

This episode touches on the importance of understanding market pullbacks/corrections/all-out crashes even though the market is up the majority of time both pricewise and timewise. It discusses the truth about why markets crash and there can be no argument about what the truth is about market crashes. There’s also a fun discussion about the relationship between the market and Ponzi schemes although that is more of a theoretical talk then it is helpful to your trading. Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange

Most traders are wired to trade a certain way. Everything is a “breakout” to them whether it occurs on a weekly chart or a one minute chart. That poor wiring for most people is why so many people lose trading or investing in the market. Understanding that the price action that occurs is usually the reverse of how people are wired is important. This podcast goes into several broad general topics about understanding the bigger picture of price action. Set up a free coaching session with Paul: https://calendly.com/dts-paul/coaching-session-w-paul The DTS Free Stuff Page: https://disciplinedtradingstrategies.com/free-stuff To learn more, visit: http://disciplinedtradingstrategies.com Listen to more episodes on Mission Matters: https://missionmatters.com/author/paul-lange