Trader Mindset

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.

Subscribe to the show Play your game - don't try to become someone or something else when the markets go against you. Stick to your knitting - the market will continually morph to try to get you out of your mind so that you betray yourself. I misspoke on the show - the Russian hockey coach who succeeded Anatoly Tarasov was Viktor Tikhonov. Click here to get your free copy of The Inner Voice of Trading audiobook.

Subscribe to the show You have the right to 'not' participate in the markets - that's an edge. It's a good time to reach out to potential clients and gather assets to manage / trade. When markets are under duress, so are the people who have substantial assets at risk. They need help and you're just as good as the next person to provide it. You just have to believe that you are... Click here to get your free copy of The Inner Voice of Trading audiobook.

Subscribe to the show Upside movement for long-only traders and investors can induce you to buy back into a falling market. This is your emotional system running your trading system. Even pro traders have strong emotions, but they don't let them undermine their trading. Click here to get your free copy of The Inner Voice of Trading audiobook.

Subscribe to the show Metamorphosis is a part of life, but not when markets are in turmoil and you are bored. Becoming a different trader because your main model is out of favor for the time being is a path to losing a great deal of money. Click here to get your free copy of The Inner Voice of Trading audiobook.