Magazine article Modern Trader

Trading from Your Gut: How to Use Right Brain Instinct & Left Brain Smarts to Become a Master Trader

Magazine article Modern Trader

Trading from Your Gut: How to Use Right Brain Instinct & Left Brain Smarts to Become a Master Trader

Article excerpt

Trading From Your Gut: How to Use Right Brain Instinct & Left Brain Smarts to Become a Master Trader

By Curtis Faith

John Wiley & Sons, Inc.

$24.99; 202 pages

[ILLUSTRATION OMITTED]

Curtis Faith was one of the original 23 Turtle Traders trained by Richard Dennis and William Eckhardt, and he earned more than $30 million following this strategy. He wrote about that experience in his prior book "Way of the Turtle." He says that he penned this latest book because of the lack of published information about developing trading intuition. This book offers a glimpse into the human brain that most traders probably ignore out of lack of knowledge.

Faith says that over thinking can harm trading performance. According to Faith, many traders do not perform to their potential because they use only part of their mind--the analytical and linear conscious mind of the left-brain hemisphere. They use their intellect but not their intuition. A trader's goal should be to use his/her whole mind while trading.

He explains that the right brain excels at reading patterns and interpreting their meaning. Also, it is good at generating ideas and recognizing opportunities. The left brain, on the other hand, involves thinking consciously and can build models. Faith believes that whole brain thinking is optimal. In trading, avoiding risk will prevent you from being a good trader. Also, traders should not feel that they need a ton of data to make good decisions, as much of it is irrelevant. …

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