On the topic of Perspective:

Lady Astor: “If I were your wife, I would poison your coffee.”
Winston Churchill: “If you were my wife, I would drink it.”

Captain Kirk reveals a great technique for changing one’s perspective that eliminates opinions and sticks to strict objectiveness in trading decisions: flip the chart.

Flip the chart and determine if you made the exact opposite judgement regarding an opportunity. What I love about this tactic is its simplicity and immediacy – i.e., the ability to instantly clear the fog in a trader’s thinking.

I also like the feature just added to Trade-Ideas that simply and immediately ‘flips’ a strategy’s configuration to model the exact opposite set-up with a click of a button.

Techniques for eliminating a trader’s fog of desires/hopes when trading is one of the themes of our upcoming 2nd Annual Learning Curve Seminar in June. Care to join us?

Click through to hear Dan Mirkin’s panel comments at the recent Traders Expo about other ways to clear your head and eliminate guesswork in your trading (video) (or read about the method in Dr. Brett Steenbarger’s column).