What's your trading mindset?
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WHAT’S YOUR TRADING MINDSET? “SUCCESSFUL TRADING BEGINS AND ENDS WITH SELF AWARENESS.” – ROBERT KOPPEL [email protected] http://thetradingedge.org
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Transcript of What's your trading mindset?
WHAT’S YOUR TRADING MINDSET?
“SUCCESSFUL TRADING BEGINS AND ENDS WITH SELF AWARENESS.”
– ROBERT KOPPEL
[email protected]://thetradingedge.org
SUCCESSFUL TRADING BEGINS AND ENDS WITH SELF AWARENESS.
• GIVE 2 TRADERS THE SAME TRADING SYSTEM AND YOU’LL GET 2 WILDLY DIFFERENT RESULTS• WHY?
Execution
Cognitive biases
Mindset
Limiting beliefs
Emotions
“YOU TRADE YOUR PSYCHOLOGY.”
TRADING IS A GAME OF SELF AWARENESS.
• MOST OF US ARE TAUGHT TO IGNORE OR SUPPRESS OUR EMOTIONS.
EMOTIONAL DEVELOPMENT
Controlled
Threat
Acknowledged
Information
Harnessed
Intuition
PAIN & PLEASURE
• ALL HUMAN BEHAVIOR IS MERELY AN ATTEMPT TO GAIN PLEASURE AND AVOID PAIN.
• THERE ARE FOUR CORE DESIRES.
• THESE WANTS FORM THE CORE OF OUR LIMITATIONS.
Core Desir
es
Control
Separation
Approval
Security
ROOT OF EMOTIONS AND BEHAVIORS• THE EMOTIONS AND BEHAVIOR THAT WE DO HABITUALLY (OR AS A REACTION TO OUR WORLD) COME FROM THREE FORCES:• PHYSIOLOGY (MOVEM
ENT, POSITION/POSTURE, BIOCHEMISTRY)
• LANGUAGE (SPOKEN, VISUAL, INTERNAL/EXTERNAL)
• FOCUS/BELIEFS (PHILOSOPHY, THOUGHTS, YOUR ‘REALITY’)
Physiology
Language
Focus/Beliefs
• THE THREE FORCES CREATE AN EMOTIONAL “FUEL OF CHOICE” WHICH WE USE “HABITUALLY” TO FULFILL OUR SURVIVAL NEEDS.
• THIS CREATES A PATTERN THAT PRODUCES THE FOUR MEASURABLE RESULTS:• PEER GROUP• IDENTITY• FOCUS• EMOTION
Peer Group
Identity
Emotion
Focus
5 STEPS FOR CHANGE
• THERE ARE FIVE STEPS BY WHICH WE CAN CHANGE THESE PATTERNS WITHIN OURSELVES:• DIAGNOSIS• CONDITIONING• LEVERAGE• PEER GROUP• EMPOWERING
ALTERNATIVE
Diagnosis Conditioning
Leverage Peer Group
Empowering
Alternative
EMOTIONAL CONTROLEMOTIONAL RELEASETECHNIQUES
THE SEDONA METHOD
1. CAN I WELCOME THIS FEELING?2. COULD I LET IT GO?3. WOULD I LET IT GO?4. WHEN?5. REPEAT
THE ROBOT / MODEL TRADER
1. CURATE ALL THE TRAITS YOU DESIRE AS A TRADER2. MODEL ALL THOSE TRAITS INTO A ‘MODEL’
TRADER3. HAND OFF CONTROL4. BECOME THE OBSERVER
• SEE YOURSELF IN THE ROBOT• MAINTAIN A SENSE DETACHMENT
MY ROBOT TRADER• MY ROBOT TRADER IS CALM, CENTERED, YET EXTREMELY
DECISIVE. IN EACH TRADE HE KNOWS PLAN A, B, AND C. ONCE IN A TRADE HE MANAGES WITHOUT HESITATION OR DOUBT.
• THE ROBOT TRADER KNOWS NO FEAR BECAUSE THERE’S NO UNCERTAINTY. AT TIMES HE’S HUMOROUS BUT WITH A SLY AND DRY HUMOR THAT IS ALWAYS QUICK TO LAUGH AT HIMSELF FOR HIS MISTAKES.
• GIVING AND ABUNDANT HE PLAYS ALL OUT AND HAS NO REGRETS.• NEVER AFRAID OF TAKING A LOSS AS LOSS IS NOT A REFLECTION
OF HIM OR SELF WORTH OR COMPETENCE.• HE’S A REAL TRADER’S TRADER.
WHAT’S YOUR TRADING MINDSET?
“SUCCESSFUL TRADING BEGINS AND ENDS WITH SELF AWARENESS.”
– ROBERT KOPPEL
[email protected]://thetradingedge.org
