Personal Performance - Mindset Approach

Estimated read time: 1:20

Summary

The video emphasizes the importance of mindset in trading. Anne-Marie Baiynd discusses how personal development and understanding one's mindset are crucial for trading success. Despite initial technical difficulties, the session moved focus to mindset principles, highlighting the need for purposeful practice, self-accountability, and routine. The discussion also covered how traders can learn from professional athletes by applying structured approaches to their routines.

Highlights

Mindset shapes trading behavior, influencing all trading decisions. 💡
Purposeful practice and structured routines are crucial for trading success. 📈
Self-accountability and personal development are emphasized throughout the session. ✍️
Traders should model their routines on professional athletes. ⚽️
Continuous learning and personal introspection are vital for improvement. 📚

Key Takeaways

Mindset is the key to trading success. 🧠
Purposeful practice beats aimless trading. 🎯
Self-accountability can significantly improve performance. ✅
Routines and structured approaches enhance trading efficiency. 📅
Learning from professional athletes can provide valuable insights. 🏅

Overview

In this engaging session, Anne-Marie Baiynd takes us through the pivotal role of mindset in personal trading performance. Despite some initial technical hiccups, she smoothly transitions into the core topic, focusing on how our mindset shapes the totality of our trading actions—a valuable insight for traders at any level.

Drawing parallels with professional athletes, Baiynd emphasizes the need for structured approaches and routines. Just like athletes practice with purpose and discipline, traders also need to implement a similarly focused strategy in their trading to ensure productivity and development. This passionate comparison underlines the importance of self-accountability and routine.

Furthermore, Anne-Marie discusses the necessity for traders to maintain a commitment to continuous learning and personal introspection. She describes how engaging intentionally with one's trading process and holding oneself accountable can lead not only to improved trading outcomes but also to personal growth. Her insights offer a road map to transform trading practices through targeted and purposeful actions.

Chapters

00:00 - 07:00: Introduction and Setup The chapter titled 'Introduction and Setup' involves preparations for a stage performance or presentation. The speaker ensures that technical setup is correct by confirming that they may be disconnected as they join the stage, indicating a transition to a live mode. The focus is on ensuring audio is working by reminding not to look at the speaker but to focus on listening. The chapter concludes with a mention of sharing the screen, suggesting a visual element to accompany the audio.
07:00 - 15:00: Mindset and Personal Development The chapter 'Mindset and Personal Development' starts with a technical glitch as the speaker struggles with screen sharing. Despite the initial hurdle, the continuation of this chapter promises insights into refining one's mindset and personal growth. The chapter sets the stage for a discussion around key strategies needed to overcome such obstacles and optimize personal development practices.
15:00 - 23:00: Purposeful Practice and Routine The chapter titled 'Purposeful Practice and Routine' seems to begin with a technological hiccup or setup for a virtual meeting, as indicated by attempts to connect over Zoom. However, the content is incomplete and lacks context about the actual discussion or key points related to the chapter's title. The focus appears to revolve around an online setup or transition to a video conferencing platform. Further information from the transcript would be needed to deduce any insights on purposeful practice or routines.
23:00 - 33:00: Feedback Loops and Accountability The chapter discusses the importance of feedback loops and accountability. It begins with a discussion about joining a platform (likely for collaborative purposes), as indicated by the speaker mentioning dropping a link into the chat. The link presumably leads to a space where participants can interact more effectively and ensure everyone understands the ongoing processes. The mention of 'copying this' and 'knowing what's going on' underlines a focus on transparency and clear communication as part of effective accountability processes.
33:00 - 42:00: Designing a Personal Trading Program The chapter, titled 'Designing a Personal Trading Program', involves a transition from a Discord event to a Zoom meeting. The speaker indicates that they have placed a link or information in the chat, allowing participants to move to the new platform. The chapter seems to focus on logistical instructions rather than specific content about a trading program.
42:00 - 55:00: Continuous Improvement and Overcoming Resistance The chapter titled 'Continuous Improvement and Overcoming Resistance' begins with the formal start of a Zoom meeting, where the recording is noted. This suggests that the chapter might focus on a virtual conference or seminar setup. The initial stage of the meeting likely involves setting the agenda and greeting participants, typical for many meetings focusing on specific topics like improvement and resistance. The title indicates a potential discussion on methods of implementing continuous improvement processes within an organization and strategies to address and overcome resistance to such changes. It may highlight practical examples, strategies, and possibly include participant engagement in overcoming challenges to improvement efforts.
55:00 - 64:00: Accountability and Performance Tracking In the chapter titled 'Accountability and Performance Tracking,' the speaker introduces a PowerPoint presentation. The session appears to be interactive as attendees are joining or 'piling in' to the session. The presenter notes they will share a clean and organized PowerPoint presentation while appearing visibly in a corner of the screen to maintain engagement with the audience.
64:00 - 70:00: Conclusion and Next Steps The final chapter titled 'Conclusion and Next Steps' begins with the speaker, Amarie Band, introducing herself and acknowledging her extensive 25-year experience in trading. She reflects on her challenging journey to mastering trading, highlighting her initial lack of understanding. The transcript suggests a closure of discussions, summarizing insights gained and potentially outlining actions moving forward. This chapter appears to focus on consolidating the knowledge shared throughout the text and encouraging application of learned strategies.

Personal Performance - Mindset Approach Transcription

00:00 - 00:30 join the stage. It's going to disconnect me. Okay, that's perfect for me. All right, let's try not to see me. Okay, so let's try not to see me so you can hear me talking and then now we're going to share the screen. Let's see if this is
00:30 - 01:00 here. Share the entire screen. Okay, now let's get started. Let's see if we can get it. Now I have the screen, right? That's just me. Now I want to make sure that Okay, great. So, probably because it's, you know, Okay, I don't see anything. Oh, I'm so sorry. Good grief. I still can't
01:00 - 01:30 see. Oh my word. All right. So, the next thing is, you know, we could go to Zoom, but I only have You know what? Let's try this. Let's Let's do this. Let's go Let's go to Zoom. And I'm going to give you a link right here. I'm going to put it in Um, whoops. Don't want to do
01:30 - 02:00 that. Let me copy. Let me copy this. Oh my word. Okay. So, I'm going to drop a link in there in in the chat right here. And that's where I want us to join. It's it's just going to be easier. And I definitely know what's going on there.
02:00 - 02:30 So, let me let me put it in the box right here. I just put it in the chat. It's the Zoom. There you go. and we will move out of here and into the Zoom. Okay. And so now I'm going to start the Zoom and we're going to get out of this Discord event. So I'll see you guys in the room.
02:30 - 03:00 You can look. Okay. Well, it'll be recorded for you, so you're in good shape. All right. So, let's start the Zoom meeting. Oh my word. All right. Meetings start. All right. Here we
03:00 - 03:30 go. Okay. Let's see if uh everyone's piling in. Great. Everybody's piling in. Perfect screen I'm going to share is the PowerPoint presentation. It's going to be nice and clean. Okay. Um and I'll be up in the corner. You'll be able to see me there.
03:30 - 04:00 Okay. So, let's get started. I do have this um recording. So, we're going to go through all of everything and I will uh move it from the space. So, let's just hop right into it. So, all of you know my name is Amarie Band and I've been trading a long time um almost 25 years and I had a very difficult time learning to trade simply because I did not understand that my
04:00 - 04:30 mindset was the thing that I needed to work on the most. But we hear about mindset all the time. So the question is one, why are we here learning about mindset? What's that got to do with anything? And then two, what do I really want to do with that? And so what we know is that our mindset really creates everything that we do. And so this is a a step through of how to shift your mindset because here's what we know. If
04:30 - 05:00 our mindset was rock solid, unless you were trying to grade me, uh, you wouldn't be here, right? If you had a mindset that kept you solid and you didn't make mistakes in your trades that were dramatic, you wouldn't have that problem. But here we are al together. So, what I want to do is run through these important events and talk through them and then really get the focus on
05:00 - 05:30 how do we work on personal development because you know what's the old saying? If you keep doing what you've been doing, you're going to get what you've got. And so, we're all sitting in a space where we go, you know what? I want to get to the next step. And so for me, performance coaching or uh mindset work is not really just about learning to correct mistakes. It's about helping you
05:30 - 06:00 grow and develop your abilities, which you'll be able to use in and out of the trading space. So the question is often we hear things all the time. We're like, "Oh yeah, I got to get my mind right." Well, you know, whatever. And we do all our study work. we know exactly what the trade setup should look like and at the end of the day we know that we either didn't follow our rules, broke a bunch of our rules or threw our rule book out entirely. And that's really essentially
06:00 - 06:30 how we begin to trade. That's what we focus on. And so the key becomes how do we develop traits that stop us from breaking rules, keep us in between the lines, and then help us learn as we grow. So my favorite thing to do is think about how traders compare to professional athletes. And if you stare at any professional athlete, you'll see one,
06:30 - 07:00 they have a coach. Two, they practice relentlessly, but they practice with purpose. That's also true for professional musicians. Practice, practice, practice. You know that old joke, how do you get to Carnegie Hall from here? Practice, practice, practice. But a lot of us spend time in practice or we use our practice accounts and we go back to the real accounts and we end up making more mistakes over and over again. So, what
07:00 - 07:30 happens with practice is that it's got to be purposeful. I was talking to um a trader on Topstep TV a while back and I said, "So, how do you prepare for the day?" And they said, "Well, you know, I stare at the charts for a couple hours." And I say, and I said, "Well, what do you look for?" And he said, "I don't really know." See that kind of work without purpose is not going to give you any active results. So we're
07:30 - 08:00 going to talk about how to actually develop the space in the trading space so we don't spend gobs of hours and come back going you know all I am is tired I don't even know what it is that I'm doing. So we have to find out first what we are doing now and the ways to improve that process as we develop as an individual and that takes you know a lot of personal introspection. A lot of times we really don't want to look at
08:00 - 08:30 ourselves but that's why we have this coaching event here and that's why we're working with the traders the way we are at top. It's for you to build collaboration. collaboration with yourself, collaboration with other traders, and collaboration with me as a coach, right? And so the goal is very often, how can I do something with purpose? Because if we do things without purpose, we've just wasted our time. And
08:30 - 09:00 that's kind of a hard thing. I mean, if we think about all the things we do without purpose, um we watch television without purpose, we I don't know, unless we're sleeping, whatever we're doing, we need for that to be purposefilled. And a lot of us really spend a lot of time wasted. That's why you bump into people sometimes and they go, "Oh, I did this, this, this, this, this, this, and this." And you heard, you listen to them and you go, "Oh my gosh, I'm exhausted from
09:00 - 09:30 just listening to you." It's how they've purposely functioned their date. So my thought is on the first outset, if you've been thinking to yourself, "Oh my gosh, all I do is study. I study all the time and it feels like, you know, I'm not getting anywhere." We're going to work on how to change that study process individually. All right? And so first, we have to say, "Hey, listen. Something needs fixing. I'm not really sure what it is, but I'm willing to work through
09:30 - 10:00 the process to figure out what that looks like. So, all improvement is actionoriented. And so, through the trading day, we really have to observe what we're doing in terms of are we um watching television and trying to get a setup at the same time or are we waiting on a setup and entertaining ourselves doing something else? That's perfectly fine. If you are waiting for something specific, but if you find yourself
10:00 - 10:30 scattered and you're looking at one thing one minute and looking at another thing another minute, you're not going to have purposeful focused action. So the first thing you have to do is say, wait a second, what is it that I am doing during the day? And it's any athlete, any musician, anybody at the peak of a performance event knows exactly what they do when they do it every day. Now, many of us have very solid routines. It still doesn't mean
10:30 - 11:00 that those routines are purposeful. I might sit around, yay, every morning, I get up and, you know, I shle around in the kitchen and then I pick up my phone and I just scroll through to see what everybody's doing or what what's happened overnight. Do it with purpose. If it does not have a purpose, move it to a place in the day where you go, you know what? This is my unwind event and I'm just going to spend this time doing this much to entertain
11:00 - 11:30 myself, unwind, whatever it is, right? So, we have to do that with how our workday is strategized. Whether we have to split it because we have a day job, we have a night job, we have children, we have parents, we have whatever we need to do, map out the spaces and make sure that you're able to give yourself a couple of hours a day where you can go, okay, this is what I did that was purposeful and how can I work the same tomorrow and get a little bit better
11:30 - 12:00 every single day. Right? The goal is not to sit in a rut, but to change that space. And in order to change your space, you absolutely have to see what you're doing in the first place. If you don't see what you're doing in the first place, you're not going to get it right. It's just not going to happen. All right. So, next, continuous improvement each day, each week. It's the anchor of high performance in any field. Listen,
12:00 - 12:30 it's the anchor of performance any space. If you say to yourself, listen, I'm going to start working out. I really got to build more muscle. I got to change my flexibility. Whatever it is, you have to say, okay, you know what? Now, I'm going to have to say, I need to do this every day or on a schedule. And if you don't, guess what's going to suffer? Your outcome, your performance. It's absolutely going to suffer.
12:30 - 13:00 Okay. So that's that's the first thing. Second thing is that in order to grow together, you have to foster in yourself and the others around you that culture of continuous learning and development, right? And that is also how you think about things and how you want to approach things. And if we can foster in ourselves, hey, I'm learning this and I'm doing this specifically and I know I can hold myself to a schedule every day
13:00 - 13:30 where I'm doing the same things every day, right? Think about anybody in sports. If they decide if you get paid to play a sport, you can't just go out and go, you know what? I'm trying it different this way today. You can't. You do that on the practice field, but you do not do it on the playing field. And so, you've got to hold yourself to a structure every single
13:30 - 14:00 day. Screech. Imagine a little car getting crashed. That sound right there. A lot of us that are in trading are very resistant to routine. We want the excitement. We want the adventure. We want to that feel-good space. We want the dopamine hit. That's got nothing to do with performance measurement. How you're going to get that dopamine hit routinely is by keeping yourself in a structured approach 100% of the time.
14:00 - 14:30 You got to stay structured. Now, how do you make it personal? So, I have coached people for many, many years. And the one thing I know is that everybody's journey is individual. I can show you how I trade and what I do to prepare for my trading day, but it's not going to be you. So, don't try to turn yourself into somebody else. Oh, I want to trade like Dakota. I want to trade like whomever.
14:30 - 15:00 Who you want to trade like is your best self. And the only way you're going to be able to do that is by finding out what works for you and what doesn't. And so in your routine as you begin, you might say, you know, I know how this setup works. I would really like to learn more about volume profile, but I don't quite know a lot about that. But I know how, you know, a three bar reversal
15:00 - 15:30 works. I know how a rangebased formation works. I know how XYZ. We'll be talking about a couple of different styles in our next session, but your trading style has got to be yours. And so, a lot of times that means tuning out the noise and realizing where you come from. So, every day you have to say to yourself, why am I trading today? How am I trading today? And when
15:30 - 16:00 am I trading today? And you might go, "What kinds of questions are those? What do you mean, why do I trade?" Well, it's not for the money. Yes, you want the money. It's great, but people don't play uh at the symphony because they want the money. They play for the love of the the the art. Professional athletes play for the love of the
16:00 - 16:30 sport. We we play the game because the game is fulfilling to us. It might have an end goal. Hey, I want to trade and do this, but we trade for recognition. We trade for personal accomplishment. We trade for a desire to feel good about ourselves. We trade uh because we feel if we have more money than we feel we have arrived. There are a lot of reasons to that question. Why do I trade? You got to write them down.
16:30 - 17:00 Listen, if you don't write them down and you don't know them, well, you're going to find an anchor that holds you in the past that cannot take you to the future. How do I know? I just that's my personal experience. And it's my personal experience with many, many traders who've actually said, you know, you're right. I I have a problem with that. This is what I'm looking to do. Right? So, how do I trade? That's going to
17:00 - 17:30 change from day to day because some days you're going to come in and you're going to see, okay, this is a momentum breakout. Um, but how you execute should be exactly the same. I know my risk. I know my entry. I know my setup. I know what invalidates the trade. And once that is set, then I take the trade. Now, what does that do? That builds personal confidence. It builds confidence if you
17:30 - 18:00 go, okay, I took it from X to Y and I knew my stop was Z. That's my trade over and over and over again. A lot of us trade with little to no confidence. Why? We don't get our setups right. We don't enter at the right time and then we second guessess oursel through the trade. Most of the time, folks, when you're trading, if you get a win and then 10
18:00 - 18:30 losses, or you get one win and then seven losses, or three wins and then 12 losses, you're flipping a coin. There's something wrong with your process. So, how do I trade is going to be a big part of the next session that we go into. And then, when do I trade? Do I trade tired? Do I trade mad? Do I trade in the morning? Do I trade at night? build a structure. Don't be afraid or concerned that a good trade is going to leave you
18:30 - 19:00 because there's another good trade right around the corner. It's just the way it is. All right. So, me talking about structure over and over and over again. So, designing a program for yourself, which is what I want to help you do. I want you to design a program. I want to help you design a program for yourself that's got your style. Hey, I like to scalp because I don't like to hold on for a long time. Or I don't like to scalp. It feels like I'm staring at the
19:00 - 19:30 charts for six hours and I have a life and I don't I don't want to lose all my brain capital by 11 in the morning. This is important for you to understand. And you have to know yourself. You have to know what are your setups going to look like and can I trade from X to Y every single day using that setup. Again, start with the questions, why do I trade? Fill all of that out. Listen, it can be as fantastical as you want. I
19:30 - 20:00 want to buy a private island. I'd like to have a layer jet. I want to have a butler and 10 housekeepers. whatever it is. But after you've written that down, say, "Why do you want 10 housekeepers? Why do you want" Or it might be, "Hey, I want to do this for my mom. I want to do this for my dad. I want to do this for my aunt, uncle, sister, brother, family, whatever. Whatever it is, after you write that down, why do you want to do that for them?" And you'll find out that it's got
20:00 - 20:30 a lot to do with how it makes you feel about giving or how you think it will make them feel about you. And once you get to that space, then you're going to figure out a whole other group of things. The motivation has got to come from inside, right? You've got to have that inside desire to say, "No, I'd like to do this for me so I can actually figure
20:30 - 21:00 this out." For me, it was, "Hey, this is the hardest puzzle I've ever worked on, and I'm a mathematician by trade." I'm like, "Lay it on me." And it's taken years to get it right. And the only thing that keeps me in between the lines is my risk management. So answer those questions for yourself tonight. And if you want to DM me in Discord or anything like that, have at it. I will be very happy to engage with you as you walk through it. Now, here's the next thing.
21:00 - 21:30 And here's where all of us get caught up. This is ongoing feedback loops. Okay, we get into a doom cycle either coming from cognitive bias, revenge trading, um fear of failure, uh what are the other big ones? Fear of failure, revenge trading, um fear of missing out. Those are pretty much the top ones. But what you have to
21:30 - 22:00 do, and listen, this is hard. Every single person I know says, "Hey, you need to journal your trades." But probably 15% of people journal their trades. Here's the thing, folks. Here are some real stats. Less than 5% of all people who open trading accounts at brokerage firms are green in one year.
22:00 - 22:30 less than 5%. Now we are in um the top step combines, the top step XFAS. If you know that that statistic for hundreds of thousands and literally millions of trading accounts across the world and only 5% of them are green in one year and that's by$1. They're just looking for $1, not if you're really
22:30 - 23:00 green.$15% $1, 5%. Do you think that there's something different that needs to be done in general? Listen, we all overestimate our abilities. It's that's why we get up out of bed or else, you know, we might lay in bed under the covers all day. But we estimate that we can and we will, but what we fail to do is analyze after the feedback, right? And what we end up doing is putting ourselves in these
23:00 - 23:30 feedback loops and we trade the same way over and over and over again every day. Or maybe we have one good day and we fall back off. This is Listen, this happened to me for years. Feedback loops over and over and over again. Trading bias over and over and over again. Picking tops, picking bottoms over and over and over again. Fearful of missing a trade. fearful of uh losing money, so I hold on until it just, you know, bleeds me and I've got a
23:30 - 24:00 $10,000 loss through the day. Whatever the case is, you have to break feed feedback loops that are bad and create new ones. The only way you can do that is by saying, "All right, I got to write down what I'm doing." Here's the thing, not going to sugarcoat it. If you don't change and do what other people do, listen, baseball is like my favorite sport to watch, right? Anytime a batter gets struck out at the plate,
24:00 - 24:30 where do you think he goes as soon as he gets back to the dugout? Those of us that trade, those of us that know what those of us that watch watch sports, they go right down and look at the film. What did I miss? What did I think I was seeing? What did I, you know? And these guys have perishable skills, right? I mean, their hand eye coordination is otherworldly. And they're still down
24:30 - 25:00 there going, I just went to bat. What did I see? What did I miss? Is this pitcher giving me any tells? And the pitcher, of course, is the market for us, right? Because we're trying to take a swing at what we're looking at. So if you don't journal your trades, start tomorrow. Start tomorrow. If you go, "Oh my god, start with one." Here's the thing. If you don't do what needs to be done,
25:00 - 25:30 you're not going any place higher. Hate to break it to you. You either do it or you don't. No try. Got to do the Yoda, right? There is no try. Do or do not. That's all you got. Hey, I didn't journal my trades today. I got wrapped up. Okay, before you step into your next group of trades in the morning, journal your trades from the night before. Now, how does it mean? It doesn't mean Tiana said
25:30 - 26:00 the funniest thing one time. She talked about, you know, you don't need to make it a soliloquy. It's here's my system and my setup. Did I take the trade in the approximate direction that it was supposed to be going according to my setup? Did I keep my stop? Did I run it to target? Listen, you don't care if the trade works. You want to make sure that you're following your system. Now, we're going to pick a system. We're going to work on some systems and some strategies that will work for you, and then we'll
26:00 - 26:30 talk about how those things work. But your goal is not the outcome. Your goal is the attention to process. So every day, hey, like today, I missed right towards the end of the day, there was a bunch of single prints that came up in the ES and I said, you know what, this thing is going to be a short, but I got distracted and I left my office to take care of some stuff. I came back, I started looking at something else and then all of a sudden I looked up and I
26:30 - 27:00 went, by goodness, there is that stinking single print. I knew it was coming to take my short because I was trading a volume profile space for that area. I wrote it on my chart every single day. I wrote it on my I write it on my chart and I take a snapshot of it. Here you missed the entry. I got in later, took it into support. But although I followed my strategy, I missed my process because I entered too late into the position even
27:00 - 27:30 though I knew what it was going to do. So answer that for every group of trades if you're a scalper or every trade if you're just like normal folks going okay I'll probably take a trade every hour every couple hours or whatever. Why did I take the trade in terms of did it follow a setup? Was I chasing uh a fin influencer? Was I uh distracted and missed whatever? Absolutely. How did
27:30 - 28:00 I take it? You write the strategy down. and you go or you do it on your chart and you go you put a text note you take a snapshot enter exit and then when because time of day is very important for me the later it gets in the day the more my brain turns cottage cheese it's just horrific my brain turns into absolute cottage cheese and so I know that the earlier parts of the day are better but sometimes my setup comes in
28:00 - 28:30 the afternoon you've got to track that you've got to and It doesn't have to be some big laborious thing. Three or four notes and then you can say okay tomorrow I need to be more alert and present as I am thinking about my setups coming along. I need to be more present in the space. If I'm more present then I'll be more focused. If I'm more focused my setup will come to me as I see it and then I will take the trade.
28:30 - 29:00 All right. Here's the thing. of all the things that I noticed last year, I put out I said it on on Topep TV and I put it out in the Discord and I said, "Listen, if you want a personal accountability partner, DM me with your trades every day. Every day. Tell me why you did, what you did, how you how you performed, and so on and so forth.
29:00 - 29:30 Right away about 10 people showed up, which I thought, "Oh, that's great." Well, in one year, only one person has stayed. One person. And he logs every single trade that he does. And at the end of the day, he goes, "Okay, I did this. I stopped out. I chased this. I stopped." Now, the last time I looked at his dashboard, he had like 25 days
29:30 - 30:00 green. He's doing all the work. All I'm there going, all I'm there doing is saying, "Hey, why did you take that? I that doesn't seem like a trade that you would take." We've got to hold ourselves accountable. And it's accountable to process. It's accountable to routine. It's just a personal accountability measure. And literally, it's going to change your life, not only your trading. Right? If you think about the fact that
30:00 - 30:30 hey, if we isolate the fact that we can't be personal account personally accountable, I can't I I can't document my trades. I don't hold myself to task. I keep chasing and making the same mistakes over and over again. We've got to have a gut check. Are you resistant to change? Most of us would go, "Of course not. I mean, I know I have to change." But if you're not changing what you do, you're not resistant to
30:30 - 31:00 change. Excuse me. You are resistant to change. Are we unwilling to take a more granular approach to our work? Listen, practice is hard. It is very hard and it can be very boring. Now, here's the thing. When I say practice, it's literally you can look at the trade, look at your chart for the day and go, okay, what did I see? What was interesting here in price action where I saw, hey, when it does
31:00 - 31:30 that, there's my liquidity sweep, it's coming up for inventory correction or whatever the case is. If we're staring that down, we can go, "Oh, you know, when I see that, I bet you I could take a trade there." You sit down, you can write yourself a little strategy. All right, when this happens, I'm going to wait for this candle to close. I'm going to make sure I have my stop here, and I'm going to do it. You can take control of what it is that you are doing by simply
31:30 - 32:00 taking a look at a chart and saying, "What is price telling me?" Not not your technical indicators. that comes later. But what is price telling me? It takes work and it's hard. It's Listen, I want to do a face plant every time nighttime comes. I absolutely do. And it's because looking back on the work through the day, it's really hard. It's actually the reason that I stopped
32:00 - 32:30 making lots of trades during the day because I thought to myself, crap, I'm gonna have to look through all these after the day. Okay, I'm going to take like five trades and that's all I'm doing. Okay, force the box for where it is that you want to be to accomplish your goals and then as you get your goals accomplished day after day, you can stretch them. Are we willing to create a focused approach to our work? Some of us just don't like that.
32:30 - 33:00 We like the adventure of trading, but if we want to be in that 3% that actually makes money every year. We're going to have to be different and it's going to be a focused approach. So ask yourself, am I here for the game or am I here to change my life? That that really is the axis of what we're staring down, right? So personal tension of process and practice with purpose. If you tell me
33:00 - 33:30 something like, you know, I go to my practice account and I can make da da da and then when I go to my live account, I can't do any of that. Well, here's the thing. You you trade with your practice account because you have no fear and you have no fear of loss. So, you don't fear that your setup will be wrong. You don't fear that you're getting in the wrong time. You don't fear that you're getting out the wrong time. And you definitely don't fear how much you lose because you
33:30 - 34:00 can just hit restart. Anything you do in a practice account that does not feel exactly like live money, it's a waste of time. An absolute complete waste of time. Don't do it. Right? If you ask those questions of yourselves and you can't come to a space where you go, okay, I see what I've done wrong. I want to change. You know what? I'm going to tell you something. When I first started trading, I was so obnoxious. Why?
34:00 - 34:30 Because I always thought I was the smartest person in the room. I always thought I knew better than the market and I was unwilling to say I was wrong. And those three things absolutely destroyed me. That's how I lost millions of dollars when I first started trading. Always wanting to be right. never appearing wrong and it was always
34:30 - 35:00 the market's fault. At any time we have to say, you know what, that's my bad. I hear some folks go, "Oh my gosh, uh tape bomb or whatever." The market tells you when those things are likely. It does. So, and if you are in a trade and you go, "Oh crap, I just lost 8,000 bucks." It's that stupid tape bomb. If only Trump would stop tweeting or whatever. Listen. It's your
35:00 - 35:30 bag. It's your bag if that happens. It is not the market's fault. It is not a tape bomb's fault because you should manage your risk and exposure every single time you trade. Ultimate accountability will improve your trading performance. and facing that ultimate accountability and then taking steps to go, okay, I'm not doing that anymore. I'm not doing that
35:30 - 36:00 anymore. I'm going to stop doing that. And then actually mean it and hold yourself accountable. You're going to be in great shape. You're going to be I know this is kind of a hard one for mindset. You know, my thought was I was sitting thinking today, oh, how am I going to talk to everybody? I want that. You guys know that I'm a mush pie basically, right? Um, I cry at the drop of a hat. I I I love people themselves. I don't
36:00 - 36:30 particularly like all their personalities, but humanity. I love humanity. And so my goal is, hey, I want to help these traders. But a lot of times we see these mindset things and we go, oh, isn't that nice? The fact of the matter is there's a lot of stuff we do wrong. And unless we go, I got to change that. I'm changing that tomorrow first day. Or I might go, hey, I'm changing
36:30 - 37:00 that right now. After I finish talking to her, I'm going go break down my trades for today. That's going to change your work. The next thing you have to think about is you got to trade as if it's a business, right? You got to manage your time, your effort, and your finances. Stop buying 10,000 resets. Uh stop spending 52 hours a day on the screens and put your effort
37:00 - 37:30 into something that's purely focused. Set limits for how much money you spend, for how much time you spend, and for the type of focus, right? You set limits. And so if you go, "Oh, that trade worked out." Repeat it. Well, I sat around and I looked at the charts all day long and the next day I just stopped. Okay, don't look at the charts all day long. It's
37:30 - 38:00 inefficient. Move it out of the way. Right? So, if it's fruitful, we repeat it. If it's challenging, we practice. Hey, I know this setup looks like this, but it makes me a little bit nervous. So, let me see how I can do this. All right, I'm gonna try it again. I'm gonna try it again. I'm gonna try it again. And then it moves into the f fruitful category and we can go, okay, I'm going to repeat it. This is part of my bread and butter, right? If it's inefficient, we change it. If it's
38:00 - 38:30 ineffective, we adapt it or we completely turn it away. Right? We have to look at okay what am I doing? Okay, that's not working. And literally, you give yourself the setup that goes, okay, this should have worked. What did I do that I should have done? What didn't I do that I should have done? Or what did I do that I shouldn't have? That's going to be part of how you do your
38:30 - 39:00 journaling, right? Listen, if you want to be the kind of person that waxes poetic in a journal, take it off to the side and just go personal trading journal. I had one of those that just tracked my emotions. I have discovered in terms of making myself better, doesn't matter how I'm feeling. It's what the heck am I doing with what I'm feeling. So, if I'm doing something, doesn't matter how I'm feeling if what I'm doing is wrong. If
39:00 - 39:30 what I'm doing is right, what I'm feeling doesn't matter. Right? It it doesn't matter as if it's right. Right? So, we focus on getting what needs to be done done. I did some work with SMB Capital a long time ago and we did a lot of stuff like this. The biggest thing that they do with their traders in the very beginning is say, "Let's help you find an edge. Let's see. Let me show you the playbooks that we have. See which
39:30 - 40:00 one feels good to you and we'll find an edge together and you can build that space. That's my ultimate goal. Now, doing it for great big groups a little bit tough, but not so bad if um we can parse it out and work on it individually. All right, so that's very key. you find your edge and that's going to take some time but most of us already have one. It's true most of us could
40:00 - 40:30 describe exactly what a good trade looks like. The problem is we don't execute. So the question to solve that problem would be why am I not executing? If it's fear you have to overcome it somehow. How you overcome it is by going listen every trade has the possibility of loss. If I lose, I'm not going to take it personally and I'm not going to lose a lot, right? By the same token, it feels great to make $50,000 on a trade. But if
40:30 - 41:00 your stop opens you up to $20,000 of risk, probably going to be harder to keep your account moving unless your account is larger. Okay, so that's what we're going to work on. Continuing here it is every success road map right from point A to point B it always looks the same attention to self-improvement attention to individual
41:00 - 41:30 process and practice over and over again. We've got to do things like that every single day. No excuses. Hey, I didn't feel good. Okay, don't trade. Do something else. Oh, I was pretty anxious and I wanted to get in. Well, stop that because that's not in your plan. Your plan is not to trade anxious. We're all going to be a little nervous. Gee, I hope this works. Right? It's not like we're going to go, "Oh, this is going to work. I just know
41:30 - 42:00 it." We never know. But if we manage the risk and we go, "Okay, I'm going to take this trade. If it doesn't work out, I'm okay. I'm going to reset, make sure that my premise was the same, and then I'm going to take the trade again. Right? If you watch Mandy this morning, she did very much like that. She wanted to take a long, got in, had her stop a little bit too tight. she went right back in because she knew that her premise was right. But setting that stop action was
42:00 - 42:30 a little bit off because she trades in very tight time cycles, which I have no idea um how you can do that efficiently over long periods of time. I've I've never been able to do that very well. So, we got to ask ourselves honestly, am I willing to do the work to move out of the 95% into the 5%? Am I willing to do the work? If the answer is yes, charge in. If the answer is no, find something else
42:30 - 43:00 to do. Honest to goodness, this is fantastic work. But literally, it's the hardest work I've ever done. It's the hardest work you'll ever do because every day you've got to hold yourself on a tight string and say one task at a time, one moment at a time and then pace through it every single day. All right? So, you got to decide one moment at a time. That's
43:00 - 43:30 right now. One day at a time, one task at a time, and then repeat it over and over again. Here is let me give you um I'm going to put a link to a simple performance metric event. It's a trading performance tracker, right? It says it's got a development plan on it. You can put the date in, analyze your strengths and
43:30 - 44:00 weaknesses. Here's what it looks like, right? You analyze your strengths. Oh, I hope I wasn't too hard on everybody. I really Right? So what you want to do is give yourself a deadline. Say, you know what? By the end of next week, I am going to make sure that I have taken at least half of my trades. Exactly. Yes, I am sharing something else. Let me do it. Um, let me share.
44:00 - 44:30 Okay, let's stop. So, let's share the second desktop. There we go. Okay. So, it says, "Hey, I'm am I in a combine or an XFA?" You put the date out there. You say, "What are my strengths? What are my areas for improvement?" They could be two words. You could make it up two words. What are what are the goals that I want for developing? And what are my
44:30 - 45:00 action steps? Deadline. Here's what I would say for the first thing you want to go. I got to map out my day. You're going to put it out here. Map out my day deadline. When I share it with you, I'm going to share it so you can customize it and put any kind of edit that you want in there. I am so sorry. I'm always talking with my hands like that. Um uh but here's how it goes. Give yourself a deadline. My action steps. I'm actually going to map out my day and see what I do. I did this. I did this. I did this. 9 o'clock. 9:30 and then look at
45:00 - 45:30 it and go how much time is how how much time did I waste today? Did I get some exercise? Did I do mindfulness? Did I pray? Did I read my Bible? Whatever it is that you do, whatever it is that you do, just write it out and go, "Oh, all right. Well, how much time do I want to put forth the work?" Remember, trading is a business. You're developing the business. Spend a couple hours a day, maybe three hours a day, whatever you want to do. Set yourself a deadline and go, I am
45:30 - 46:00 going to build myself a process. Uh, well, Emory, I don't really know how to trade. I'm not really good at trading, I don't think, because I'm think I'm following all the wrong things. Okay. All you want to do is say, I am going to dedicate two and a half hours a day on learning to trade and then I'm going to start studying charts with purpose. What did I see? If you feel if you feel like taking a snapshot of a chart and marking it up and going, "Hey, I saw this, this,
46:00 - 46:30 this, and this." You could DM me in Discord. I will help you. I'll ask you questions, right? But then you can go to coaching session log anytime. Hey, Discord interaction. What do we focus on? What were those action events? And remember the action events here today are can I actually write out why I trade, how I trade, and when I trade. Can I actually write that out? And then say, well, what do I want to do next? How do I want that to go next?
46:30 - 47:00 Then you can go here. Sorry about that. That should say, coach, what what kind of feedback would I give myself? Right? What would I say? What do I want from the coach? What do I want for next? And then by the end of the next VIP session or the quarterly, you can go, "Oh, I achieved this goal. I was really engaged with my process and here's what I can do next." Right?
47:00 - 47:30 Really simple. You can change it any way you want to. I'm going to drop it in the chat box right now and I'm going to say everybody can have the ability to view. Um, and here it is in the chat. You can download it. Put it anyway. But your goal is, can I look at what I'm doing during the trading day? Most of us, we know what we're doing. Hey, I'm chasing this.
47:30 - 48:00 I took this, this, and this, and this. And you got to step back and go, okay, was this a good strategy? Was it a strategy? Did I follow it well? Am I am I doing what I'm supposed to be doing? You've got to get very granular there and work it out. Doesn't have to be a lot of words. And you could simply drop and paste u an image on there, right? If you've got a cloud, you can say, "Okay, here's my
48:00 - 48:30 here's what I went through. Here's what I did." Mark up your picture. And then you know you've got yourself a road map and building blocks of what you want to do as a trader. So next week what we'll be talking about are different types of trade strategies but I'm going to be very simplistic. I'm going to talk about price and then um different things that people do and what kinds of areas need to be
48:30 - 49:00 viewed as risk how we can look for inventory accumulating and distributing and then you know my favorite setups. So, what chat? This link that I It's right here in chat. Uh oh, I sent it to Let me send it to everyone. Sorry. Okay. Is that it? I think I got it. There it is. Great. Yeah. All right. So, Oh,
49:00 - 49:30 somebody's already in it. There you go. Fantastic. Love it. So, I'm going to shut it down. Save yourself a copy. Morph it any way that you like. change it any way that you want, but the goal is to get out of being the 95% of people that churn and burn in here and turn yourself into the 5%. And that means you're going to have to take steps to do some very different things. All right, so thank you guys for coming. I
49:30 - 50:00 appreciate it. Um, I'm not I gota Yo, you know what? You guys need to help me think of the name for my VIP coaching session next season and I'll make sure if you DM me and say, "Hey, I was in here." I'll share documents with you. Everybody wants to learn and be better, right? So, I'll share any documents and and stuff like that. I certainly don't mind. And you know, hopefully we turn this into a
50:00 - 50:30 real solid program that, you know, folks can really get sink their teeth into and and invest their energy. All right. So, thanks everybody. And um a thanks. I appreciate it. Thanks so much. You guys think of a good name for me. I need it. I'm not very creative that way. And um we'll see you soon, right? I'm looking forward to next week. Take care.