The AlphaMind Podcast

#84 Tom Canfield - Letting Go

Feb 5, 2022

01:00:58

Creator website

Highlights

AI Chapters

Episode notes

How to Eliminate Stress

03:24

What I Like to Talk About Is, It's Not Prepared to Nothing's Prepared

01:57

You Fall Down, You'll Get Up. You Fall Again, You Get Up Again.

02:56

Introduction

2min

Alpha Mine Podcast With the Light of the Half

3min

I'm Dude, I Beat. I Like, I Gotta Go

4min

You Fall Down, You'll Get Up. You Fall Again, You Get Up Again.

3min

The Market Is Always Evolving

5min

The Stress of the Market as a Trader

2min

I Don't Think I Solved the Problems.

2min

Day Trading - I'm Not a Day Trader, but I Feel It in My Body

4min

How to Trade Effectively, You Know, You're Going to Trade Scared All the Time

2min

10.

Is There a Price to Pay for That?

3min

11.

Alpha Dash Mine - The New Alpha Mind, Weaponizing the Trading Room

3min

12.

Is There a Right Way to Do It?

2min

13.

How to Eliminate Stress

3min

14.

Is There a Need Out There?

3min

15.

You Know, I'm Not Competitive Like You Know I Get

2min

16.

Trading Rooms - It's So Lonely

3min

17.

What I Like to Talk About Is, It's Not Prepared to Nothing's Prepared

2min

18.

Let It Go

5min

19.

The Voice Out There Is What You're Trying to Communicate to People

2min

20.

The Art of Letting Go

5min

Contrary to common belief, it is not market knowledge, analytical skills, or some special system or secret indicator that are the key differentiators of success in financial markets. The true differentiator is the ability to ‘Let Go’, and the capability to sustain a ‘Letting Go’ mindset at all times.

This week, Tom Canfield, a veteran US based Retail Trader, returns to the AlphaMind Podcast to discuss his ongoing journey of ‘Letting Go’ as a trader, and his battle to get there.

Chapter on the Audio Podcast

(00:00) Introduction
(02:37) The Conversation Starts.
(04:43) Tom’s 2021 Heart Attack.
(07:49) That 2021 Podcast, my 25-year journey, evolving and learning to ‘Let Go’.
(09:25) 55 years of hard-wired personality traits that don’t want to give up the fight.
(10:25) You fall down, you get up, success is a function of resilience and failure.
(13:52) The market is always evolving, and we must learn how to evolve with it.
(17:15) People must find a way to break the stress in a productive way.
(19:20) Rewinding to Tom’s massive drawdown and dealing with the angst.
(22:30) Becoming acutely aware of my stress and the beginning of understanding myself.
(23:48) The ‘Gun to My Head’ of having to make income from my trading.
(27:38) Building a safety net for underperforming periods, to ease the stress and pressure.
(29:38) It’s OK not to trade if the environment is difficult.
(30:15) Trading is not as it is portrayed on Twitter.
(33:00) I’m a feel-trader, feel trading is tough to teach.
(34:10) There is not one right-way to do it, there are multiple nuanced approaches.
(37:25) The challenging now is how to do this without letting it own me.
(42:20) Awareness of your stress profile. – Start from a view that stress is part of it.
(44:37) The challenge of doing the job alone: The loneliness of the job gets to you.
(50:30) You got to really ‘Let Go’
(53:50) Want less, expect less, experience more.
(55:53) The mental side of the game is everything, once you learn the basics.

You can follow Tom on his excellent Twitter Feed @canny4

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