In this episode, we welcome back Pat Bailouni, an esteemed trading mindset coach renowned for guiding numerous seasoned traders globally.
Full episode + show notes: https://tradingnut.com/pat-bailouni-2/
[07:29] Even the best traders out there go through winning and losing periods. It’s part of the game.
[10:30] The only mentor or teacher that you should have is the market.
[10:39] The market’s going to tell you what’s right or wrong for your system, the way you live and your lifestyle.
[11:11] You want to have clear goals. You want to have a clear picture of your life the way you look to get to and not only for your trading.
[11:45] If you want to be a successful trader, you have to also empower other areas of life.
[12:39] If you don’t take care of the macro picture of your life, then there’s going to be a lot of distractions, there’s going to be a lot of volatility that will ultimately affect your trading.
[15:38] Ensure that you have your edge clearly outlined in a trading plan and in a trading checklist.
[17:06] The market’s never wrong. The market always has to be listened to because when the market presents an opportunity aligned to that trading plan, that’s when we execute.
[20:11] Hold yourself accountable to principles and don’t beat yourself up when you deviate from them every so often, over time you’ll build that muscle.
[22:17] How can you expect consistent profitability if you’re not consistently executing in the market.
[26:41] To be a consistently profitable trader, you have to both win and lose.
[26:46] Winning and losing is both part of long-term consistent profitability. It’s part of the edge.Watch on YouTube: https://www.youtube.com/watch?v=Jo5Rkgx3iNg
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