From the Inside Flap
Many people try their hand at trading, only to suffer a few quick and consecutive setbacks that send them running from the field. Many more never try in the first place, worried about losing their nest egg with significant losses in an increasingly volatile market. A few, however, conquer their fears, find trading success, and build wealth. This book is about how to become one of those few.
In The Trading Mindwheel: Eight Essential Skills for Trading Mastery, renowned entrepreneur, investor, and coach Michael Lamothe delivers a practical and hands-on blueprint to personal investing success. In the book, you'll discover the mindsets, belief systems, and psychological frames you need to adopt to maximize your chances of emerging victorious from the investing arena. You'll learn to increase returns and reduce risk by analyzing individual trades and markets as you manage your portfolio and continuously validate and improve your trading skills.
The author explains how to use journaling as a roadmap to continuous personal improvement and offers strategies for using post analysis to validate the trades you've made and the skills you've developed. He also discusses how to manage individual trades and portfolios in a way that limits relevant risks and reduces your exposure to "black swan" events with the potential to negatively impact your returns.
An essential resource for anyone interested in finance, investment, trading, and growing their personal wealth, The Trading Mindwheel: Eight Essential Skills for Trading Mastery will earn a place in the libraries of retail investors, portfolio managers, securities analysts, and anyone else with a personal or professional stake in the financial markets.
From the Back Cover
Praise for The Trading Mindwheel
"Excellent! The Trading Mindwheel is packed with many practical steps needed to become a more successful trader. It's perfect for anyone who's read Reminiscences of a Stock Operator (Lefèvre/Livermore) and William O'Neil's book, How to Make Money in Stocks, and is ready for more specifics."
--Mike Webster, Portfolio Manager for a private fund, former Head Market Strategist for Investor's Business Daily, and former SVP/Portfolio Manager for O'Neil Capital Management
"Mike explains trading psychology in a way that every trader can not only grasp, but instantly apply to their trading. The tips and techniques that Mike shares are not going to be found in some random online blog. Mike has such a unique way of explaining things that you're sure to find value in every sentence."
--Austin Silver, Founder of ASFX.biz and Host of The Day Trading Show Podcast
"In his book, The Trading Mindwheel, Michael emphasizes the vital role mindset plays in a trader's ability to profitably execute a sound trading strategy. Top-performing traders know that achieving trading mastery first requires overcoming mental barriers."
--Leif Soreide, 2019 U.S. Investing Champion and Founder of Champion Team Trading
"The biggest misconception new traders have when learning how to trade is that their technical or fundamental strategy will be all they need to become a successful trader, but without the proper mindset, they will never find success as a trader. The Trading Mindwheel lays out 8 essential skills that will be worth more to a trader than any technical or fundamental strategy they will learn."
--Anthony Crudele, Host of Futures Radio Show Podcast
MICHAEL LAMOTHE is the Founder and CEO of Mara Wealth, a company that coaches new and experienced traders. He has over 20 years' experience in the financial investment space as an entrepreneur, trader, and coach, and has dealt in stocks, options, forex, crypto, futures, and commodities. He is the bestselling author of The MARA Mindshift Guide.
