Trading Lords

Welcome to Trading Lords, where Somesh delves into trading psychology, risk management, and strategies to elevate your trading game. In this episode, he tackles the overlooked topic of recovering from a trading slump, offering insights to emerge stronger from these challenging phases.

Navigating Trading Slumps: Somesh acknowledges that every trader encounters slumps. He discusses the emotional toll they take, impacting not just finances but overall well-being. He breaks down the issue into identifying causes, finding motivation, and leveraging the slump as a learning opportunity.

Common Causes of Slumps: Somesh explains triggers like market volatility, emotional trading, and external stressors. He shares relatable experiences of impulsive trades driven by external factors. Recognizing these causes is key to addressing and preventing slumps.

Rebuilding Confidence: Somesh suggests techniques to regain motivation and confidence. He emphasizes mindfulness, grounding in the present, and positive self-talk. Achievable goals and a clear trading plan aid in rebuilding confidence. Somesh cites personal strategies, including visualization and setting attainable goals.

Leveraging Slumps for Growth: He introduces the concept of a growth mindset, viewing slumps as learning opportunities. Journaling trades, pattern recognition, and learning from mistakes refine trading strategies. Leveraging experiences contributes to becoming a more seasoned trader.

Final Thoughts: Somesh emphasizes resilience in trading. He encourages staying committed, continuous learning, and embracing the journey. He motivates traders to trade like a pro, stay positive, and connect within the Trading Lords community.

Connect with Somesh on Instagram for insights, strategies, and personalized guidance. Share questions, experiences, and victories within the Trading Lords community.

Thank you for joining. Tune in tomorrow for actionable tips and strategies on Trading Lords. Until next time, trade smart, stay resilient—you've got this!

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

Join The Day Trading Lords Discord 

Join The Daily Trading Newsletter

Hosted on Acast. See acast.com/privacy for more information.

In this episode, Somesh responds to a crucial question: Does sleep and physical health impact long-term trading performance? Explore how acknowledging the significance of these factors is a vital step towards trading excellence.

Reevaluating Priorities: Somesh shares his personal evolution from considering sleep a luxury to recognizing its critical role. The impact of sleep deprivation on decision-making, mood, and performance becomes evident. Discover how the realization of the necessity for quality sleep transformed Somesh's trading journey.

Insights from a Pro: Learn from Somesh's experience with a trading psychologist and business coach. The conversation highlighted the connection between sleep and decision-making. Somesh's own shift towards dedicating eight hours to sleep daily and tracking sleep metrics becomes a turning point.

Physical Health's Impact: Explore Somesh's journey from being overweight to embracing a healthier lifestyle. Witness the profound effects of exercise, diet, and weight loss on his trading performance. Discover how these changes led to increased alertness, focus, and mental clarity.

Balancing Trading and Health: Somesh emphasizes the necessity of maintaining a proper sleep environment and exercising regularly. He outlines his personal routine, including post-training gym sessions, and stresses the significance of maintaining proper nutrition.

Mind Over Matter: Somesh advocates mental decluttering through mindfulness practices, journaling, and stress management. Learn how prioritizing self-care over trading elevates overall performance. A profound shift from trading-first to self-care-first mindset leads to enhanced profitability and well-being.

Key Takeaways:

1. Sleep is Vital: Recognize that quality sleep positively influences mood, decision-making, and overall trading performance.
2. Physical Health Matters: Prioritize exercise and healthy eating for heightened focus, mental clarity, and productivity.
3. Balancing Act: Develop a daily routine that encompasses sleep, exercise, and self-care to maximize trading results.
4. Mindfulness and Stress Management: Embrace practices that declutter the mind and set a positive tone for the day.
5. Self-Care First: Place self-care before trading to ensure long-term success and well-being.

Thank you for listening to this enlightening episode. To keep your trading skills sharp, don't miss tomorrow's installment of Trading Lords. Until next time, trade smart and prioritize your well-being. 

For more trading insights and personalized guidance, follow Somesh on Instagram and join the Trading Lords community. Share your questions, thoughts, and experiences to foster a thriving trading journey.

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

Join The Day Trading Lords Discord 

Join The Daily Trading Newsletter 

Hosted on Acast. See acast.com/privacy for more information.

Day trading is one of the most isolated careers with no social interaction or support — This isolation can negatively impact the mental health of traders over the long run subsequently impacting their trading. In this episode, Somesh discusses the dangers of isolation that traders face and how it can negatively impact mental health and trading decisions over the long run. He also shares his own experience of how prolonged isolation affected him and how he was able to overcome it.

In this episode, Somesh discusses:

• The dangers of isolation that day traders face 
• How isolation can negatively impact mental health over the long run 
• Somesh's personal experience of how prolonged isolation affected him 
• How Somesh was able to overcome isolation 
• The importance of joining a community to provide needed social interaction and healthy competition to improve

Memorable Quotes:

“Day trading is one of the most isolated, meaning you have nobody to talk to... it impacts your mental health.”

“If everybody’s hating on you, maybe it’s not because everybody’s wrong. Maybe something’s wrong in you. So look inwards first.”

“The best way to fix this isolation is joining the community and using that community as a motivation factor.”

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

Join The Day Trading Lords Discord 

Join The Daily Trading Newsletter

Hosted on Acast. See acast.com/privacy for more information.

You know, out of 100 traders, 95% lose money, and only 5% are the only ones who make profit. That means 5% of the traders who make money are taking all the money away from all the 95% of people who are losing money. Somesh is here to tell you that if you want to be one of the 5% of traders that make money, if you want to get ahead of the 95% of losing traders, then you need to fix your ego — It's your ego that often leads you to make costly mistakes and makes you lose in trades.

In this episode, Somesh discusses:

• Only 5% of traders are profitable while 95% lose money
• How your ego often lead you to make mistakes that cause you to lose money
• Ego driven behaviors that make you loose in trading — overconfidence, chasing trends, failing to admit errors, peer pressure
• Tips that will help you to overcome ego-driven mistakes

Memorable Quotes:

"Even the highest probability trade can fail, be prepared for it. I'd rather be wrong and make $100,000 than being right and lose all the money that I have."

"Your ability to put your ego aside and accept what the market does will prevent you from larger potential drawdowns."

"Respect yourself, respect the money that is in your trading account. But above all, respect the market movement that the stock market is doing. Even more than you respecting yourself because the market is never wrong."

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

Join The Day Trading Lords Discord 

Join The Daily Trading Newsletter 

Hosted on Acast. See acast.com/privacy for more information.

Every trader experiences losses no matter what their experience level is, but the difference is how much you lose and how you deal with it! Somesh is here to tell you that losses are an unavoidable part of trading, but the key to success in trading lies in handling them effectively. He shares insightful tips on how to handle the losses in a healthy manner.

In this episode, Somesh discusses:

• Most traders have a "losing problem," not a "winning problem" 
• Common reasons traders experience loss – market volatility, unexpected news, and their own mistakes
• The mistakes beginner traders make that make them loose
• The fixable and non-fixable mistakes in trading
• Maintaining a growth mindset by learning from losses
• Tips to having a healthy approach to negative trades

Memorable Quotes:

"The people who are losing money, they do not have a problem with their trading setups or their trading approach. The problem they have is not about winning trades; the problem they have is a losing problem. So, if you can fix the losing problem, you're going to literally take over."

"We all make mistakes. But the best thing about making mistakes is that it gives you the opportunity to grow, which is a growth mindset."

"One bad day cannot or should not affect your future. A lot of people make this mistake where one bad day in the market basically makes them risk their entire future trying to fix this one bad day."

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

Join The Day Trading Lords Discord 

Join The Daily Trading Newsletter

Hosted on Acast. See acast.com/privacy for more information.

Have you ever traded impulsively, only to wish you hadn’t when you realized the losses? In this episode, Somesh discusses how impulse trading can be dangerous, why traders need to keep their impulses and emotions in check, and offers practical tips to achieve that.

In this episode, Somesh discusses:

• What is impulse trading, and what happens when traders trade on the impulse
• How impulse can lead traders to make rash decisions, resulting in losses
• Being the master of your mind, not a slave to emotions, and believing in your strategies
• Strategies for impulse control:
• Being self-accountable and recognizing your weaknesses
• Understanding the market structure and looking to catch pullbacks
• Properly analyzing your trading journals to identify mistakes 

Memorable Quotes:

“To control the impulse, you need to master your mind.”

“You can either master your mind, or you can either be a slave of your mind. If you’re a master of your mind, you will believe in your strategies; you will wait for the trades to come to you. But if you’re a slave of your mind, you will let emotion state go, and you will keep making the same mistakes over and over again.”

“Everything that you do in your trading account is your fault. Every trading loss that you take in your trading account is your fault. Nobody else, be self accountable.”

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

Join The Day Trading Lords Discord 

Join The Daily Trading Newsletter 

If you enjoyed this episode of Trading Lords Podcast, then make sure to Rate, Review and Subscribe to our podcast. Your support keeps us going strong!

Hosted on Acast. See acast.com/privacy for more information.

In trading, biases lead to wrong decisions, resulting in losses. But what are these biases, and how to fix them? Once you understand them, only then can you fix them. Somesh is here to talk about the trading biases that will keep you poor if you do not fix them. He discusses the different biases that traders have, how they negatively impact traders, and how to fix them.

In this episode, Somesh discusses:

• What are twin biases or cognitive biases in trading
• Understanding the root cause of your biases
• The negative impact of biases in your trading
• Some of the common cognitive biases and how to fix them:
• Confirmation bias
• Anchoring bias
• Overconfidence bias
• Loss aversion bias
• Availability bias
• Gambler’s fallacy bias

Memorable Quotes:

“If you don’t know what to fix, you will never be able to fix it.”

“If you can master your mind, you might end up rich. If you do not master your mind, you might end up working for someone who does.”

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

Join The Day Trading Lords Discord 

Join The Daily Trading Newsletter 

If you enjoyed this episode of Trading Lords Podcast, then make sure to Rate, Review and Subscribe to our podcast. Your support keeps us going strong!

Hosted on Acast. See acast.com/privacy for more information.

There’s one key differentiator between winners and losers: winners always let winners run, while losers let their losers run. The same applies to trades as well — winners pick winning trades and keep letting them run, while losers sell winning trades early and let the losing trades go on. In this episode, Somesh discusses the psychology of taking profits — when and why you should take profits. 

In this episode, Somesh discusses:

• Psychological factors that impact your trading — deposition effect, overconfidence bias, herding behaviour, loss aversion
• The impact of fear and greed and how that affects the traders
• The  rationalized approach to taking profits
•  95% of traders lose money - how to become one of the 5% who make money

Memorable Quotes:

“Winners will always let your winners run, while losers will let the losers run.”

“The only way to succeed in this game is to double down on your winning trades, not doubling down on your losing trades.”

“95% of traders lose, but only 5% make all the money from those… It’s a zero-sum game. Someone has to lose for the other person to win. If 95% of traders lose money, that means all the money’s going to the 5% that actually makes money.”

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

Join The Day Trading Lords Discord 

Join The Daily Trading Newsletter 

If you enjoyed this episode of Trading Lords Podcast, then make sure to Rate, Review and Subscribe to our podcast. Your support keeps us going strong!

Hosted on Acast. See acast.com/privacy for more information.

Do you want to know the secret to Somesh's ultimate wealth? Well, it's all about his mindset. Today, Somesh talks about the powerful mindset shift that transformed his life and made him ultra-rich. He discusses the two types of mindsets — fixed and growth mindsets — and why the growth mindset is more important than the fixed mindset.

In this episode, Somesh discusses:

• Two different types of mindsets: the fixed mindset and the growth mindset
• The importance of adopting a growth mindset for trading
• The difference between the fixed and growth mindset
• Somesh’s journey of adopting a growth mindset
• Psychology of trading and mindset
• Four strategies to develop a growth mindset

Memorable Quotes:

"The fixed mindset people, they stay broke, and they're poor for life. The growth mindset people, they start exactly in the same spot with fixed mindset people, but what happens is they get better at the craft, and they get rich."

"The only way to learn is to learn from others' experiences and you're like, what if they can do it? If they can fail 1000 times and still go for the next time? I gotta keep going too."

"If you want to make money in trading, you need to try, you need to learn, and you need to update."

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

Join The Day Trading Lords Discord 

Join The Daily Trading Newsletter 

If you enjoyed this episode of Trading Lords Podcast, then make sure to Rate, Review and Subscribe to our podcast. Your support keeps us going strong! 

Hosted on Acast. See acast.com/privacy for more information.

Have you ever made your trading decisions based on your gut feelings? What was the result? But does your gut feeling really hold any weight in trading? Somesh is here to answer this. He discusses whether or not following your gut is a reliable trading strategy and shares the pros and cons of following your gut, as well as how he navigates this dilemma.

In this episode, Somesh discusses:

• Should you trust your gut while trading
• What is a trading system
• The difference between intuition and trading system
• How your intuition and trading system influence your trading decisions
• The limitations of believing your intuition and system
• The perfect way to trade—balancing intuition and trading system
• How to prevent yourself from falling into the trap of intuition and trading system
• The WWW framework to practice for every single trade

Download the slides: https://tinyurl.com/gut-trading-trust 

Memorable Quotes:

"When you care too much about feelings, you know what happens? You think trading and yourself are two different things. You start treating them as two separate things. And you know what that does? Over time, you lose money."

"The best way to grow as a trader is you plan the trade, and you trade the plan."

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

Join The Day Trading Lords Discord 

Join The Daily Trading Newsletter 

If you enjoyed this episode of Trading Lords Podcast, then make sure to Rate, Review and Subscribe to our podcast. Your support keeps us going strong!

Hosted on Acast. See acast.com/privacy for more information.