Lesson 29: Psychology Lesson From a Pro Trader

By Derrick Oldensmith, Senior Trader at T3 Trading Group, LLC

Professional trader Derrick Oldensmith takes you through trader psychology, and offers tips for managing the volatile emotions of real world trading.

Derrick shares with you:

  • The cycle of emotion traders feel
  • How traders deal with denial, euphoria, anxiety, panic and other issues
  • How a professional prop trader views the psychology of a trade
  • How a big ego can cost you big money
  • Where you are at risk of abandoning risk management
  • Why pulling a stop loss can hurt so much
  • How panic leads to capitulation selling which can make you angry and despondent
  • A big mistake many new traders make in the middle of the day
  • When he likes to get REALLY aggressive with his trades
  • When he wants to pull back his trading volume

About Prop Trading With T3 Trading Group

Are you interested in becoming a trader with T3 Trading Group?

Qualified traders can trade firm capital, use a fully professional direct market access platform, and access various T3 Live services for free.

Contact info@t3trading.com to learn more.

About Derrick Oldensmith

Derrick Oldensmith is a Senior Trader and Managing Supervisor for T3 Trading Group, LLC and VP of Trading and Education for T3 Live, LLC. Derrick first joined T3 Trading Group as an equity trader in 2011 and has been running a trading desk for the company since 2013.

Derrick combines day trading, swing trading and portfolio management into his own, unique, top-down approach to the markets. He describes his trading style as a combination of technical analysis on multiple time frames and tape reading with a background of qualitative fundamentals.

Derrick has developed and mentored over 100 of T3’s entry level traders and currently manages a group of more than 50.  A highly competitive person, Derrick is a two-time world champion kickboxer.

In addition to his duties as a professional trader and mentor, Derrick leads the Pro Desk room on T3 Live's Virtual Trading Floor®.