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The Illusion of Control: Why Traders Fight the Market (and Always Lose)
In this episode of Mind Over Markets, George Papazov unpacks one of the most dangerous traps in trading: the illusion of control. From childhood we’re programmed to believe that effort equals outcome — but in markets, that belief becomes sabotage.
George shares the story of a trader who “mastered control” until volatility shifted and everything unraveled, explains why the illusion of control feels so real, and shows how to upgrade from chasing outcomes to mastering process and adaptability.
You’ll walk away with a simple NLP exercise to anchor calm before each trade and a powerful mindset reframe: you don’t control the market, you control execution — and that’s where your edge lives.
Key Takeaways
Control in trading feels real because of childhood conditioning, societal messages, and workplace cause-effect logic — but the market is an uncertain system.
The illusion of control serves early traders by creating confidence, persistence, and structure — but it flips into sabotage when clung to for too long.
Overconfidence, revenge trading, self-blame, and blindness to change are all symptoms of fighting for control that never existed.
True power comes from focusing on “Bucket 1” (preparation, execution, state) and releasing “Bucket 2” (market direction, volatility, news, outcomes).
- Anchor exercise: recall a moment of calm and focus, press thumb and finger together to lock it in, and fire this anchor before each trade to remind yourself — I control execution, not outcomes.
Episode Resources
Download the Free PDF: The 5 Most Destructive Loops in Trading — and How to Break Them
Leave a Voice Message: Ask a question, say hello or suggest a future episode on SpeakPipe
Rate and Review: If you’re enjoying the show, we’d love for you to rate us on Spotify or on Apple Podcasts
Follow on Twitter: For daily mindset insights and trading psychology content, follow me here
Disclaimer:
Futures, options, and derivatives trading involve substantial risk and are not suitable for every investor. The high degree of leverage in futures trading can work against you as well as for you. Past performance is not necessarily indicative of future results.
The information provided in this podcast is for educational and informational purposes only and should not be construed as specific trading, investment, or financial advice. Nothing discussed constitutes an offer to buy or sell any futures contract, option, security, or other financial instrument.
You are solely responsible for your own trading decisions, and you should carefully consider whether trading is appropriate for your financial situation, experience level, and risk tolerance. Always consult with a licensed financial advisor, registered broker, or other qualified professional before making trading or investment decisions.
While efforts are made to present accurate and timely information, the host makes no warranties or representations regarding the completeness, reliability, or accuracy of any information presented and assumes no liability for any losses that may arise from reliance on this content.
By listening to this podcast, you acknowledge and accept these risks.
View all episodes
By George Papazov
4.9
9696 ratings
In this episode of Mind Over Markets, George Papazov unpacks one of the most dangerous traps in trading: the illusion of control. From childhood we’re programmed to believe that effort equals outcome — but in markets, that belief becomes sabotage.
George shares the story of a trader who “mastered control” until volatility shifted and everything unraveled, explains why the illusion of control feels so real, and shows how to upgrade from chasing outcomes to mastering process and adaptability.
You’ll walk away with a simple NLP exercise to anchor calm before each trade and a powerful mindset reframe: you don’t control the market, you control execution — and that’s where your edge lives.
Key Takeaways
Control in trading feels real because of childhood conditioning, societal messages, and workplace cause-effect logic — but the market is an uncertain system.
The illusion of control serves early traders by creating confidence, persistence, and structure — but it flips into sabotage when clung to for too long.
Overconfidence, revenge trading, self-blame, and blindness to change are all symptoms of fighting for control that never existed.
True power comes from focusing on “Bucket 1” (preparation, execution, state) and releasing “Bucket 2” (market direction, volatility, news, outcomes).
- Anchor exercise: recall a moment of calm and focus, press thumb and finger together to lock it in, and fire this anchor before each trade to remind yourself — I control execution, not outcomes.
Episode Resources
Download the Free PDF: The 5 Most Destructive Loops in Trading — and How to Break Them
Leave a Voice Message: Ask a question, say hello or suggest a future episode on SpeakPipe
Rate and Review: If you’re enjoying the show, we’d love for you to rate us on Spotify or on Apple Podcasts
Follow on Twitter: For daily mindset insights and trading psychology content, follow me here
Disclaimer:
Futures, options, and derivatives trading involve substantial risk and are not suitable for every investor. The high degree of leverage in futures trading can work against you as well as for you. Past performance is not necessarily indicative of future results.
The information provided in this podcast is for educational and informational purposes only and should not be construed as specific trading, investment, or financial advice. Nothing discussed constitutes an offer to buy or sell any futures contract, option, security, or other financial instrument.
You are solely responsible for your own trading decisions, and you should carefully consider whether trading is appropriate for your financial situation, experience level, and risk tolerance. Always consult with a licensed financial advisor, registered broker, or other qualified professional before making trading or investment decisions.
While efforts are made to present accurate and timely information, the host makes no warranties or representations regarding the completeness, reliability, or accuracy of any information presented and assumes no liability for any losses that may arise from reliance on this content.
By listening to this podcast, you acknowledge and accept these risks.
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