Syllabus - it starts here

The Berinsfield approach is to view every
element of trading from a psychological angle

Your trading head is a fragile thing: you should treat it like you were carrying a hatchling cupped in your hands.

The twin imposters of self doubt and ignorance of what probability really means can destroy a trading head.

We root out destructive behaviours related to money management, risk assessment and trading tactics and replace them with virtuous behaviours that foster a low risk, stress free, trading environment.

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We should work out who we are as traders. Often this is viewed in terms of time frame but in reality before we even get to this, we have to realise that retail traders are three different entities simultaneously:

1. We are a bank. We deploy capital to get a return. This is essentially money management. Very few traders think like a bank. They may have a rudimentary grasp of money management but it is usually at a micro level. Money management decisions you make at the macro level greatly impact on your trading head.

2. We are trading floor supervisors. We assess risk as our primary task. Risk is myriad and everywhere. Again protecting our trading head, we identify and quantify all the risk we can and, in so doing, remove surprises from our trading environment.

3. We are traders. By far the easiest of the three tasks. But bafflingly, as a group, the one we spend most time learning. Why do retailers spend so much time and money learning trading systems and then fail?