Trading Lords

The world of trading looks glamorous, with quick profits and massive gains, but with the many dangers of trading, there’s one hidden danger that often gets unnoticed — Trading addiction. And when this trading becomes an addiction, you need to fix it ASAP!

Somesh is here to discuss the psychology of trading addiction and when it’s time to walk away. He shares signs that you may have developed an unhealthy addiction to trading and some tips for healthy trading.

In this episode, Somesh discusses:

• What is addiction and its relationship with trading
• Signs that you may be addicted to trading
• Understanding the psychology of the stock market
• Common psychological traps that lead to losses: fear of missing out (FOMO), overconfidence after wins, confirmation bias looking at multiple timeframes
• How to fix your trading addiction
• Tips for developing healthy trading habits

Download the slides on trading addiction: https://tinyurl.com/trading-addiction 

Memorable Quotes:

“You lose money when you’re addicted, when you do not know what you’re doing.”

“Trading is easy. Making money is easy… The toughest part for me is to actually just survive when you’re not making enough money and still putting in all the time. That was the toughest part. But trading is easy when you survive this period.” 

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 nothing better than a winning streak in trading, right? But you know, winning streaks can actually blow your trading account, and Somesh explains why. Join Somesh as he delves into the psychology behind why winning streaks can actually lead to blowing your trading account. As he navigates the treacherous waters of overconfidence, he reveals hidden dangers under seemingly unstoppable winning streaks, and he gives you some practical tips to keep this from happening to you.

In this episode, Somesh discusses:

• The fine line between confidence and overconfidence, and its impact on trading
• The dangerous temptation of maintaining winning streaks at any cost
• Recognizing red flags and the art of disciplined trading
• The pivotal roles of humility, discipline, and risk management in trading
• The consequences of succumbing to overconfidence: emotional, physical, and financial
• Strategies for breaking the cycle and achieving consistency and discipline.

Memorable Quotes:

"The money you make without confidence, the money you make without discipline, the money you make without being the best version of yourself – you're going to lose in the market, be it today, or be six months from now."

"Worry about the inputs, don't worry about the outputs."

"A disciplined life leads to disciplined trading."

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.

Are your trading profits stuck in a rut? Learn why your past could be the reason and how to turn the tide in your favor! Somesh dives deep into the concept of hindsight bias and how it can wreak havoc on your trading decisions. He explains how looking back on past winning trades with rose-colored glasses can cloud our judgment and lead us to make risky decisions in the present.

In this episode, Somesh discusses:

• The trap of hindsight bias that leads to flawed decision-making
• Strategies to overcome emotional exits and impulsive decisions
• The limited food on the table analogy - take what you need and avoid greed
• The power of learning from both personal and others’ trading experiences
• The three questions to ask yourself before a trade
• Learning from past mistakes but not letting them influence current decisions

Memorable Quotes:

“If you let your past rates control you moving forward, you’re going to cloud your judgment and you’re going to blow up.”

“We learn from other people’s experiences. But why don’t we do that in trading?”

“Whatever happened in the past had absolutely no relationship with the trade that you’re about to take right now.”

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.

Successful trading requires a hidden skill that many possess but often fail to harness – patience. Somesh is here to talk to you about the importance of patience in trading and how traders often struggle to apply this skill effectively. Join him as he explores how this hidden asset can transform your trading journey and shares strategies to grow it.

Remember, patience isn't just a virtue; it's your trading edge!

In this episode, Somesh discusses:

• The importance of patience in trading 
• Reasons why traders often struggle to trade with patience
• Parallels between trading and everyday situations where patience is exercised
• Strategies to develop patience in your trading 
• Encouragement to embrace patience, learn from mistakes, and self-improve proactively

Memorable Quotes:

"The stock market is a device where wealth is transferred from the impatient to the patient." - Warren Buffett.

"When it comes to day trading, the only reason we are not patient is because we do not have a strategy, and we are not calm in our brains." - Somesh.

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on Twitter

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.

Somesh shares his ten daily trading rules to empower traders like you with invaluable insights to enhance your skills and achieve remarkable success in the market. He breaks down each rule with precision and clarity, emphasizing the profound significance of trading psychology, effective risk management, and adherence to a well-defined trading strategy. 

In this episode, Somesh discusses:

• Ten trading rules of Somesh:
• Having a trading plan before entering any trade
• Setting stop-loss levels and wholeheartedly accepting losses
• Committing to a specific set of strategies that resonate with you
• Developing discipline in your trading by being disciplined in your overall life
• Staying informed about market news and events that could impact your trading stocks
• Being patient and letting profits come to you over time
• Tracking Your Trades with Insight
• Controlling your emotions and not letting losses affect your focus and future trades
• Taking breaks from regularly trading to review your performance and reset your mindset
• Take profits out of your trading account and build assets

Tune in now to gain a thorough understanding of these rules!

Memorable Quotes:

“No money lost is still a win. But as long as you follow your plan religiously, every single day, by sitting there patiently, you will grow.”

“Patience pays the patient hand that waits patiently to be paid.”

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on Twitter

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.

We all make countless decisions daily, both in trading and in life. From the simple act of opening a water bottle to life-altering choices, decisions shape our paths. But how can we ensure that our trading decisions lead us to success?

Join Somesh as he discusses the importance of decision-making in the trading world. He shares the crucial role decision-making plays in the trading world and uncovers strategies to improve your decision-making process and drive growth.

In this episode, Somesh discusses:

• The importance of decision-making in trading
• Examples of how past experiences and losses can shape future trading decisions
• Identifying patterns and root causes of losses with the help of journaling
• Learning from losses and mistakes to improve future decisions
• Having a solid trading plan before the market opens to reduce decision fatigue
• The cycle of growth: Learn - Upgrade - Try - Repeat

Memorable Quotes:

"In order for us to trade well, we have to make better quality decisions."

"The only way for us to know what's good, and what's a bad decision, is actually about trying. If we try and actually learn from my experiences, we will know that if this decision is good or bad for me."

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on Twitter

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 found yourself on the edge of making a trade, ready to dive in, but an invisible hesitation holds you back? That moment when a past loss haunts your decisions, causing doubt in your decision-making. If you have ever felt that familiar sense of fear, you're not alone.

Join Somesh as he discusses one of the most important aspects of trading psychology: overcoming fear. He discusses how fear influences your trading decisions, shares some underlying causes of this fear, and uncovers some strategies that can help you overcome the fear.

In this episode, Somesh talks about:

• Understanding the root of trading fear and how it affects your trades
• Somesh's personal experience of how his anxiety about trading affected his decisions and results
• Seven strategies to overcome fear in trading
• Starting small and building the 3Cs: confidence, consistency, and chain of small wins
• Educating yourself by watching videos, following traders, and asking questions
• Paper trading for a short time
• Journalling your trades to identify mistakes and strengths for improvement
• Setting realistic expectations and goals
• Joining a trading community 

Memorable Quotes:

“Trading lets you improve yourself every single day.”

“Understand the previous trades had absolutely no relationship with the moving forward trades... So accept the loss and actually understand that it has nothing to do with the new trade that you’re just about to take.”

“The losses do not mean failure. Losses lead us to step back. Learn, fix, try again.”

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on Twitter

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.

As a trader, it’s natural to experience certain emotions — euphoria, anxiety, anger, overconfidence, and impatience — that can cloud your judgment while trading and result in losses. While the emotional roller coaster is an intrinsic aspect of trading, it doesn’t have to dictate your success. 

Somesh has five techniques to share that will help you to handle the emotional side and stay stable in trading. These strategies will help you regain control over your trading journey by regaining control.

In this episode, Somesh talks about:

• Understanding the emotional rollercoaster of trading
• Impact of emotional fluctuations on your trading
• Five methods to deal with the emotional side of trading and stay stable:
• Practicing meditative brain dumping
• Recognizing when you’re weak and emotions are about to take over
• Maintaining a “red trigger” journal
• Having a walkaway limit as a safeguard
• Joining a community of traders to foster growth

Tune in now for comprehensive insights into these methods!

Memorable Quotes:

“If you have a systematic approach towards anything in trading, you’ll be able to deal with it much more calmly without taking massive losses.”

“Recognize when you’re weak. When you’re weak, that’s when you will be making a lot of mistakes.”

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on Twitter

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.

Are you dreaming of leaving your day job to pursue day trading full-time? Then this episode is for you. Join Somesh as he shows you how to move from your regular 9-to-5 job into the world of full-time day trading. He'll walk you through the nitty-gritty details of this transition, breaking it down step by step. 

Tune in and get ready to uncover the process that will help you skillfully navigate the realm of day trading! 

In this episode, Somesh talks about:

• The process of transitioning from your day job to full-time day trading:
• Planning the transition strategically, including overlapping work hours and job stability considerations
• Balancing income sources by gradually moving into full-time trading while maintaining a stable day job
• Reducing work hours gradually to maximize trading time without compromising job performance
• Mitigating the financial impact of trading volatility with a dual-income strategy
• Keeping a trading journal to learn from your mistakes for improvement
• Joining a supportive trading community focused on learning and performance

Memorable Quotes:

"When you journal your trades, what will happen is you will learn from your mistakes. When you learn from your mistakes, you'll be able to grow exponentially over time."

"Join a trading community where everybody is just where you are. Everybody wants to grow. 

Everybody is learning. That will push your trading income to another level."

"Your urgency to leave your job is not an emergency to perform in trading. Take it easy, step by step."

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on Twitter

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.

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