Trader Mindset

Subscribe to the show Sidestepping the large losses will do wonders for your P&L and also build enormous trust between you and your clients. They've already lost a great deal of money on their own or with another manager. Admit your wrong and get out. The client will forgot your being wrong about a name over time, but they will not forget a 40% hit. Click here to get your free copy of The Inner Voice of Trading audiobook.

Subscribe to the show Using Relative Strength for stocks and seasonality in commodities are about as far as I'll go in talking about what you can rely on. Most others are unreliable as stand-alone indicators. If 'price' is the input, the indicator only helps you see or confirm what you can already see in the price itself, so just use the price. Click here to get your free copy of The Inner Voice of Trading audiobook.

Subscribe to the show You are programmed to behave the way you behave and that makes the results you are getting in your life predictable. The mechanical part of that is how you allocate the funds you manage. You can also backtest running several systems at the same time. Yes, you can do that... Click here to get your free copy of The Inner Voice of Trading audiobook.

Subscribe to the show Don't worry about what it looks like. If you keep your mouth shut, you won't have to worry about what everyone else will say when you slip and get up. They don't slip because they don't have the b*lls to do what you do and take chances. They also stagnate and don't grow. Stay away from these losers. Click here to get your free copy of The Inner Voice of Trading audiobook.

Subscribe to the show Just give the money away ahead of time. At least you can steer it to a cause you care about, not a winning trader. Click here to get your free copy of The Inner Voice of Trading audiobook.

Subscribe to the show This includes turning off the tv and having silence. If you're lonely, you know what you can do... Click here to get your free copy of The Inner Voice of Trading audiobook.

Subscribe to the show When brokerage masquerades as prop trading: be careful for what you wish for. Click here to get your free copy of The Inner Voice of Trading audiobook.

Subscribe to the show Some traders succumb to buying services and research, or worse, chat rooms. Traders need to be self-contained units. All the decisions that go into a trade need to come from a goal that you set for yourself and one that you have a deep emotional connection with. Traders are leaders and need to be decisive. Subscription newsletters don't teach you to manage risk. Click here to get your free copy of The Inner Voice of Trading audiobook.

Subscribe to the show You are programmed to behave the way you behave and that makes the results you are getting in your life predictable. In order to change that - if you are not satisfied with your results - you need to change that programming. I've seen people that you would otherwise count out make enormous strides in their lives and attain great success because they got clear and set goals, eliminated non-productive activities, reset their paradigm, and executed day after day. When you focus on 'process' you will get the results you want. If you focus on the results first, it is also predictable that you will lose interest because you have no emotional attachment to what you're doing.

An example of this type of mindset is setting a goal such as making a certain dollar amount from your investing or trading.

The goal should be about attaining that dollar amount from the result of specific behavior - the behavior is the goal - not the dollar amount.

And when you attach a powerful emotion to your behavior, the odds of your hitting your goals change to greatly in your favor.

You can achieve the success you imagine if you want to - it comes down to relative strength.

The question becomes "are you going to be remain uncomfortable sitting in your current dirty diaper getting the results you think you don't want," or "are you going to be uncomfortable making the changes you want?"

You get to choose what type of discomfort you want in your life.

"And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom." - Anaïs Nin

Subscribe to the show In order to affect the change(s) you need to make, you need to get out of your comfort zone and create new habits around that behavior. From what I've read, creating a new habit is going to take approximately 2 months. Take it one day at a time. Next thing you know, you'll have a week of new, more productive behavior behind you. Of course, you need to have a plan that you are emotionally connected with to drive you. Reach out if you're having trouble getting connected to your goals. Click here to get your free copy of The Inner Voice of Trading audiobook.