mmm
hmm
mine
welcome chew tab step traders market therapy
with doctor and you medicare now
doctor and your mana kar you're not familiar with him hmm
his PhD in clinical psychology has worked with large bank traders and hedge
funds and other professional trainers since 1995
is also active trader himself his approach to treating
psychology is unique realistic
and performance-oriented as a result his services are highly sought-after
doctor manager currently serves as a consultant and coach
to the hedge fund managers with the you images 16
billion assets under management ladies and gentlemen
would you please welcome doctor and you massacre for doctor
already in Happy New Year to everyone very happy new year
2013 time to live the dream
as it sounds sound good sounds good doctor
not very nice to have you here once again
now I'm topic today I I love the top
think it's a perfect topic to start of the year and out
something that we need to to focus on
something that we need to establish for ourselves and out talking about goals
goals for trading goals for yourself
you know I was talking about this earlier other topic for today's gonna be
benefits
and risks upsetting resolutions and goals for your trading
now a sometime Saturday circles little too high
you know and can't build their confidence but at
with having you here today I do believe faithfully that you're going to help us
out
finding the limitations to where we should be setting our goals
I'll both the benefits and the risks exactly
that's a very important thing that we have to consider I battered
in New Years but up I wouldn't be there break
everyday short term goals that keep us keep that smile on your face
some doctor when I'm gonna do is a I'm gonna give you the mic
after the doctor is finished if you are in the lounge with us we will be taking
questions from the doctor
so if you do you have any questions for doctor and Amanda Kerr
please join us in the lounge and I will open up the questions after that we will
start accepting some
to doctor are you my friend alright thanks Eddie
well out that he mentioned I'm here to talk to you guys today
about goal-setting and you know everyone's talking about that because it
steers
everyone has those new year's resolutions it going to medicare going
to get wide
come up here on the screen and to look at their visual guidelines because to
look at
on talking a little bit about to reality a
single its okay
that you can't actually achieve the alchemical
that you're really looking for it and what I mean by that is that
happy to use our goals carefully
quirks we come to trading because we want to make money
great took natural trading course end up becoming
hide to a dollar out justices what happened
it's very natural pretty normal actually I want a traitor
want to have that monetary goal and that's the only goal for perhaps
have to call about mine you know maybe a dollar
I like milk today or per week
you know for the year whatever whatever the country maybe
if you're creating course are only monetary
I think he said really reconsider that
and and let me tell you why first of all we know
that it's a natural and it's very
kinda the beautiful goal that we did in the fall back on
if monetary goal that's the easy one everyone comes to trading generally
because they want to make money or they want to make more money than are already
making in their life
but I want you to consider a different perspective
and this was a prospective that's based upon
performance improvement itself in other words
using performance improvement has to give you a call kstp
your ultimate goal which is to have more money
let me just say it right here that
up you know what's really interesting in my
situation has perpetrated by so often getting to talk with a lot of different
raters over
many years I me a lot of different things like a lot of different things on
my own trading
and and so what's really interesting take is that
I could myself here that treating is not particularly
have to have just were not connect all up making more money
still of possible so learn and grow as a person
where you basically learn more about yourself
as a result a good opening yourself
has a traitor and the first thing I hear a lot from people that work with her
actually like my coaching clients will say that meet up at ends up happening to
them as well
not just their trading changes let's get back to trading
and trading when we focused
clearly a monetary call what's happening
thats wat is back it's pretty much the think
saying as focusing on and outcome
okay be and white that it's not a good idea
if you can I see in my sobriety I can't get it there in the first four points
is that if we're focusing on how come that weren't
paid natural extension were no longer really have to focus on the process
have a cheating that outcome obviously we want to make money
in trading at the reason why were trading but in fact becomes the primary
or perhaps the only go on itself
what's gonna happen is that you've now created a foundation
Italian created have a personal environment for yourself
where you will be here you believe the year away
from having a good process because you're no longer focused on a cross-ice
here perhaps even worse with that
you won't even develop a good process in the first place
p.m. something be it process is something we need
for longevity in this business coming in make that dollar amount in a decade or
two weekly
can achieve got monetary call but in order to sustain that
and not give it back to back it up back plus more
to really maintain nom making the money that you want
together all the process you can't just have that monetary collapse interview
so the process perpetrating
is a really important what I'm saying here is that it actually more important
than
the monetary call it's so important that happen to become the focus
itself focus unprocessed scoring two goals
and one week are taking about the new year's resolution I think this is the
area
that would be taking about process calls and we're gonna on a second time at some
point my car today
giving you guys examples of them I have some on the flight here
we could talk about additional want but talk a little bit more
about like process calls are so important
so trading you know there are things that
we can't control here the course there are a lot of things that we can't
control
you know we know we've got intellectual level right
that we can't control whether
trade produces money for we talk a lot right we talk we can't control what the
market's gonna do
control whether the straighter and where the next rate you're going to be and
it's kinda
gonna be a winner lost he hadn't
you know about we started our actual Apple most people to understand that
intellectually but
if you're goal for you I'm record trading is tight with dollar
now when despite natural extension
you're focusing on something that is in reality
beyond your control we can't control the outcome
perpetrate the outward trade a scanner determined the dollar amount
that he maker lose we take control back
after work to the market so we might be able to
now we do control the risk of course I want to say we can control how much risk
that risk management so he just like a
again the bear but we do om
we are able to of course we can't
because it dissipates in response market moves
but we cannot can certainly really ever predict the market
and therefore we can't control the outcome of our trade then we know that
intellectually
but be easily secretly I want they forget that but we can
become are misdirected if we're focusing primarily on a dollar
now for our training call to my point here
Scott we have to focus
on what we can control and what we can control.
primarily is are processed involved
and how we actually go about archery
pic not become have the individual trader
and lookout love the individual traits
is really what we're focusing on if we end up having that monetary goal
copy has a following here so focusing her pick that up by the
are controls really it's pretty futile right time and I think that's pretty
clear
now but me talk a little about
comp a beer Asian a profit I could call which
which arguably like the supreme at first glance has an alcohol
I still see it has processed more
in your hand this would be
ago I love but say
eliminating the big blow up day it had to happen every few weeks for BB want Mr
after a string a few could trade for a few weeks for a few days or whatever
your
your what happens to your trading but be realistic here
making money for a lot of traders is not actually the most
a proper Arctic big you can make money today for a trade
work more difficult is not getting it back plus more
right now that the plight of traders what repairs
Kors gonna try to find a regimen never really make money but
but a lot of traders I could make money in a day or two or three because they
didn't get back plus more
so relief for some traders
but all can be I wanna hold on to the money but I think add credit to become a
better risk manager
okay so put together following here another example of a process called
would be to you eliminate
or maybe more realistically to reduce the frequency
for the magnitude love revenge trade
sequence care think you know you probably know what I mean here
in in other words having a prayer her strategy in place
can you cannot get involved and knows
revenge sequences that you that
we usually park to how you know actually have a frustrating experience have a
trade
and you want to make your money back you wanna make it back as fast as possible
and their what happens is for you know it you find yourself in a situation
where
whole thing to spiraled downhill from there you know people talk about
they get caught up in debate is a crazy tank from the spins out of control
being able to prevent hacker stereo perpetrate pic with for yourself
would be a fantastic process call right
being able to recognize your side when you're at the beginning at that pic wit
and being able to put it
a add to that sequence that is a process cool
being a fucker you know that's what I'm talking about here that if
crutch much more important in more realistic
than making a certain dollar amount per day
or per week whatever it is you're you're looking at
so in general
arm process called for a always be
what you want to focus on if you're really focusing on performance
improvement
trading will be discarded
approaches from a bit at a different angle here for a moment
but i just want to see that in general
Europe trip talk about the new year's resolutions more in general
in general it more difficult to
eliminate a bad habit for habitat you know like
that it is to create and be happy creating a new habit
is a little bit easier may not be easy but after a little bit easier than
eliminating about half but there's
for psychological reasons for this scanners also believe it or not
simpson neurological Camaro biological reason
for this as well that have a lucky with the functional specific terms
neurotransmitters
that biological factors really be on just got a great cock could be better
time
arm in order to understand the brain biology it would require
with a very difficult to talk here today home
but what let I'm could be more effective for me right now to really talk more
about
psychological resistance wide from
little more difficult and you eliminate a bad habit that you don't like
Tom Petters created you have it
so what have been playing that gets underway
working towards a goal is card needed for
for our desire for immediate gratification
okay and the immediate gratification of talking about
can come to know what a different way the commander
on it performs one common way
that matter is that perhaps
trade here began to work
but it doesn't get to your target when you expected it
taking a lot longer and during that time you know there's a lot of anxiety of
waiting and wondering is it cannot
call back companies are kinda reversed by gonna United
I gonna see carpeted realized gains evaporated you know maybe even turn into
a lot
you know that would be horrible so experiencing that
and you decide too much :excited: much take my profit now
taken a personal profit I'm now
that's pretty example up compared of people can relate to that
biggest community but example of what I'm talking about I mean army
give you different example I think that maybe we can really talk more about
you're sitting there watching the market for the last
but say it like a few minutes or so not yet rated
but during that time you hear about somebody who's making money are making
money on a trade
today and that reminds you hearing that
remind you the fact that you haven't made any money yourself today or maybe
ever
possibly and you can expand
that frustration the discomfort the difficulty
not making any money and as a result
that up you have a strong need for leader
basically reduced %uh restoration in other words
you're looking for some gratification some just that media gratification that
kinda
this chart combat restoration here experiencing it kinda peeking out
that gets triggered by hearing someone else to make money you get
you missed out on the move so
right around that same time for an economic you're looking at the chart
you happen to notice there's a shark moves see her happening see some
prices moving okay get your attention
and psychologically what's happening right is that
you bet restoration is Scott picked out
you want complication to discharge frustration at the same time you see a
certain movie on the chart
what's going to happen is quick from before you know it your hand reaches for
the housing
you're gonna trade can you find a talker and
you find that your trade really bad location
you know and a difficult community
Nick you know not a good place to be
back to person are being able to
prevatt that better scenario
is would be for many traders
perhaps the only goal but actually ever need to have to focus on a favor to
achieve that one Cor
back possibly turned into a profitable trader just got a lot
arm and that they can actually achieve
I don't wanna see the matter at all cuz I hope you have a monetary cooper say
could actually start making money or making more money than they are already
making
what but talk a little bit about some from
other specific process call Compton practical stuff
now got some listed here wide
okay I'm gonna talk about some additional and do but I'm applied here
harm you know beside self-awareness of management stuff we talked
I come back around to hear think back to you goodnight sweet
getting a better breakfast you know somebody who don't care tell me who have
not heard me talk before might be wondering what what is this guy talking
about how does getting
good night sleep eating a bagel breakfast at what does that have to do
with making more money in achieving my goals and trading
I actually has more than you might back
how the reason is that trading is not typical
activity it actually physical activity it takes 30
our brain requires energy abrasive cut up her body
her body I'm requires energy to function hot
block to research that shows for instance that people who are sleep
deprived
will perceive risk differently
domain situation say the main
com idea behind you have to remember is that when you're sleep-deprived
most people not everyone because people 10+2
I show more willing to take on more risk than usual
happened this has been a pyrrhic we share on this is not just an idea
it's actually been a pic which town with at traders that they've actually
measure traders its measure the amount of sleep can measure how much respect a
cracked under traders with professional gamblers with the airline pilot
which is kinda scary and doctors of a scary
nom we all share the same back decrease sleep affects our perception repressed
so get a good night's sleep
right debonair for some people can be a huge difference in how they handle risk
and the risk manager and being a better risk manager
for both trader should be at least X strong consideration for your process
cord may be one of your protocol
like I said earlier you know it's what they can make money but it's another
thing to be able to
to keep the money campaign be able to make more money
Kehlata traders really need to focus more on the risk management part of
trading
very easy to forget about that part because no
you know some days we make money today as we don't make money so today's we
don't make money
it's very easy to think something's wrong with her sister maybe there isn't
a better than it's hard to say
to be with you have to adapt to a changing market a crime it's just one
other day
market doesn't agree with are trading methodology
yeah but we have to throw it out the window so
because it to happen but maybe that's where you were taking on too much risk
people to what your system normally would allow for
I'm maybe because he didn't get a good night's sleep dramatic turn
a good night sleep can really be the classical
getting a better breakfast have got out here because as people have heard me
talk before
I'm you know glucose levels have a car Havelock
you also with how up how are you can affect a good cause as well
you're thinking of going to be compromised I'm
now I have a market cap it understand your car to someone to come back to
happen as well
I'm writing down the reason for every
entry prior to the actual entry into trade
let me to grab a few minutes talking about catastrophic or
arm I probably I'm not
pic I would play it the most common problem I've heard but its
it's right up there it might be the most common now P
people taking prostrate right I think readers can relate to that
at least at some point in their career not carry throughout their career
back traders taking part trade here
wine way to deal with that
okay I'm gonna give you guys right now very simple
but very effective strategy if you
can actually do it you can't we can help you and strategy is if you want to spoke
to for continuity trade over to repair it
put our deposit rates what have you if you could simply
tell yourself that you have to write down
reason while you're entering into the straight before you enter
back it's not a guarantee that a eliminate your own pottery
but it will reduced the number to Costa Rica
gonna make you stop and think to really examine what is your motivation it
together
credit but a little bit of a space somewhere between the
yes feeling up want to get to it great actually picking over to prevent
it might help I'm I could expand that little calcutta several
space and time there by going to a piece of paper with a parent writing down to
San
have to iron turning into the straight what it is that you see
arm hopefully something has to give Marquette not feeling up on it to make
money
being in the market because you think something might happen but you actually
are responding
to something that you see in the market itself not responding to your piano
responding to the market that right there could be an incredibly
powerful goal okay simply
right down the reason for your country prior
entry K you to call arm
decline I'm picking can be that it's probably going to
you know you can do that consistently every day smack at like I said it
it may not completely eliminate I'll imposter rates but it's probably a
degree could be reduced on
guy another really I am
carton/cartons process called but I have here
this is what I get for myself you don't necessarily have to do it yourself
something to consider have to take a break after two or three leaders in a
row
arm I like that work for myself my know a lot of other traders I like that one
because that's how r
what their I where you basically are focusing on trying to eliminate
those revenge sequences okay betrayed I am
I'm not that you have to be this country but I kinda kamarck
here discretionary traitor I don't have fix-up I trade over par by feel
are identify my a-levels be a market profile involving profile pic to other
way
and I determine whether or not I want to get back at that level a last-minute
and looking at order flow an internal to my
countries in fact that her very very discretionary
have walked with my feel for the market but mom
could have to maybe three weeks in a row that help me then I'm
but definitely wrong here I'm at the top of the market I put myself there
something wrong
arm so I need to take a break otherwise
I've ever read I love wanted to get my money back
pay and going on another trick another trade and I had expected
but the market are out of sync with my self propel
I keep throwing arm or trade it's just i holed up taking its gonna get people
really fast
so that provides a process called you taking a break
after two to three weeks in a row and I I would also add
back me to make sure that you do something constructive
productive during a break okay
you know what is going on examine the market and more that's not what I'm
referring to in terms of the brakes on trading
I would say that hampered me break could be
something where you actually I'm
you know step away from the screen for a little bit pick a lock
get something to eat if you can go for and exercise the workout go for a run
hit the gym even I'm go walk around the block
a pic like that before breeding p 15 minutes at meditation
arm taking a break actor
a few looters is a great crisis core: if you can make that a process for
back if you can do that as well as rate down
the reason for your entry prior to treatment go to be too
incredibly powerful process called for a lot of traders
harm and I questions that people are putting in their answer because everyone
at home
after questions later how I will get to them project you really important
process called
are another one hum would be to engage in a gratitude
practice I pondered accredited here before
arm and what I mean by gratitude practice
that you know we it's very easy to
caught up in that need for immediate gratification that are treading water
reduced frustration networks creating we want to make money
kamikazes to be inpatient traitor looks at her yet metallic
you know sometimes we can even experience what I call a personal
Facebook market
markets really not fast but have seems like it's just control and
we're going to happen we overreacted arm
and having a gratitude practice being able to appreciate
other things about light
to help you too it will help to counterbalance
that desire that need for immediate gratification
when you are ready when you can recognize with you are really grateful
for it like you can have a huge impact about
the whole other topic to talk about we can talk about it
again in future market therapies by Hector
also nice process called developing a comic ready to practice hard to keep
your
he actually to very quick examples integrated practice
one would repeal have a Worcester
had things that you appreciate car that you're grateful for your life happen
right now
maybe they're typed out have that list right there next year keyboard
you read it over before you begin trading if you look at it
throughout the trading day that will help to remind you
arm that there are things in life
you are grateful for that will help not a guarantee
there are no guarantees in trading attack will help
to counterbalance to some degree
that need that desire for immediate gratification
when you can remind yourself that there are some things you are ready are
grateful for
home another technique besides it was apparent
you can review throughout the day yes to generate marquerite
a new act at some point during the day I would have two or three or four
things you're grateful for perhaps you create this new left when
you are arm for the height
station read it out or you're just you know
whatever it is out what a good time to put it back
and think about what you're grateful for life and I can tell you some people
might be thinking well
things have been really difficult for me I don't really happening
but I'm grateful for and we all do you at all times you just have to think
about it
you know it could be that maybe it could be something as simple as
I woke up alive today okay I've had I didn't have a car wreck
this morning on the way to the office starters out terrific kid advocate
doctor
want that you can pretty much you know if you have trouble finding other things
are grateful for
you know user but they're are things you can be
you can appreciate like if you think about it and being able to focus on
other things could be a really nice way
can be really nice gimmick that with the partial an actor
radically senator to
the desire print media crab cake sandwich is
really really really powerful
up for all people and it becomes extra
activated because activated a more intense way
when we become traders and we're faced with my
get which is growing on and giving a lot of opportunities
which British place with that need for immediate
that desired media gratification and I'm
course that's a recipe for
I'm that God for a lot of people but it could be a recipe for good stuff you
know how to make it work
and arm minister to come back around
but I think I was kinda holding up pretty into my cock your things like
self-awareness
shock management tight process called
com being more honest with yourself that kind of thing
so I'm afraid that perhaps the granddaddy of them all
and terms a process called the cork I see is perhaps
with the most important but profit what it is early it's it's one of the more
sometimes even more difficult or at least hard to get your arms around
process called would be to understand
why you keep doing what you to you
even know you don't want to do that anymore
but I'm talking about his resolving finally understand
because a great niggas resolution right people talk about resolutions
well have a resolving
finally understood thank you keep repeating same mistakes
even though you know those mistakes are not good for you
you're well aware of them you keep promising yourself that you won't make
them anymore
pat Quinn credible process got understand why did you do that
okay it's not simply because you want to make money or something else driving up
course we all want to make money next I'm a circus that's what things like
your straddling your mistakes wife my people double down 18
imposter a try to hold on to the user's why they get up really
her credibly think profits wanna make money
process call when I'm talking about here the Grand Prairie process call here
really the big one is to get a handle on
what I prefer to st. internal data com
internal data his really part about certainly
which is you know for all traders that's what we're facing with uncertainty
time 730 when you can't feel threatened
when someone is anything absurd your to the recognition
what happens is we started real quick picking here in our
internal data what's going on inside a post-concert
influencing decision in the act and we're not engage in
much more so external data today that we see in the chart
we used to date on the chart as the excuse from the reason to what we're
about to do
but what actually providing the fuel for the action especially in times of
correct conditioner and uncertain situation bit more uncertainty and
credible threat the more the true be
the more the internal data dominates good decision-making process
gonna happen to natural storm or three for current that's what happens
so the goal here would be to get a handle understanding how your kernel
beer
what with internal data comprises what their
at how to operate harm Robert finish before we get to the questions that were
submitted
can't some other questions in the room today I just want to give you guys a
little bit over
homework time at column which would be
Q parte first one its you know
water lines at New Year's resolutions two-part
homework assignment first part is to you identify at least one
process call yourself okay
it meant to second part is to develop a plan
pick up there to tell you happy strategy to achieve that goal
process call arm in here
you know to be something simple like a Gaby I gave a guy
scar to really good one okay
writing down here the reason for your entry prior to entry
can help at addressed the impost rating issue
and then taking a break possibly after two or three losers in a row
which will help to address revenge trade sequence issue
you wish you had a lot of people rush to work on trading too which is that if you
were to leave
reduce their frequency and magnitude many traders
it would completely change their piano completely
I'll so with perhaps
I think weekend I'm we love our community
question very all rights action thank you very much I'm
that gratitude list I remember maybe about a year ago we did a a gratitude
list where
re for dinner at the dinner table you Estes go around and ask everybody what
they were grateful for
and you know it first I know the signs were like in of TV cable
but you as he kept doing it they started to get a little more creative
and he's really turned its great process
realizing you know what you're grateful for nother points
that you hits was the the the good night's sleep
some was really don't realize how important it is I mean
we've been in the business for a long have been in the business over 25 years
and you know not getting that good night sleep
soon as you wake up your basically you've got a mindset
shoe bring you to work and you know some people wake up grumpy some people wake
up cheerful secure so it really depends on
hi what present your day and I i really take tits into consideration
with a good night eating well and keep yourself healthy so
thank you very much doctor Yahoo and others
i dont know what youre I get up and get a good night's sleep you know as traders
no and market secretive creating
world that you with it is a global marketplace right market all around the
world different times so
you know it's possible to rate pretty much around the clock raping a part or
you wear
what time zone you're here that what happened markets you're attracted to you
you think is a good fit for you
you like to trade elect representatives you for people right
hark I could tell you with him California on the west coast
you know I like trade equity index futures yes and whatnot
arming itself with you know if i picking at work really early
here it's difficult and the battery for me getting a good night's sleep
have always been a practical for me I don't know is
you know get to where I want to be with tackle for pickup always have to work on
this because at the time
I would right I mean how many times have you stayed out till two o'clock in the
morning
he got up at five and said hey i'm ready for a great day it fifty got out younger
I could do that
not yes the young cock
now alright well back a got a question here from Paul
I remember we do cakes submitting stuff questions
through the support at taps that catered acecomm so before we get to doctor and
we do have some questions
artists from POF and the question is %ah
actually the comments here is you may ever D answered this your presentation
bites what you consider it good non-monetary golfer
future traders Daily Call is my pots
we have you know I'm itching to do really I think you that every re
real estate very achievable I should say or at least very practical that
it doesn't company money that everyone can start tomorrow
I still had my back which is you know writing down payment reason for the
entry
arm taking a break after 2-3 with a row
those are great examples I'll you know there are so many
arm I will tell you another example for other traders
good practice called would be to you know how it would require
a player you know some people have displayed on its way to complicated way
to involve
your back on the market actually apparent from the start per experience
you know
missing out things like that her or not getting traded pics
want to be on are subject to get up their plan
because they're really upset about themselves for their such artist
frustrated with the situation perhaps and so
from biggest because the plant was just did you do to Richard Hartley beyond the
record a plan to make it would have a plan at all
so off guard think about your plan can be a process called
you making a plan that's realistic a pure premium you not get this is just
for me
hockey what but I've got our offense myself again I just wanna caviar
I'm not suggesting this is what other people great their plant like
the to have this is just for me what I've found over the years
this is the process of evolution so for me I'm now but I respond better to
a pretty basic for poor
arm my plan but I have repair it's really
just some level that I wanna be looking out for the market knowledge to the
credit rating for a while I have my own
customer right now no basically I i look at certain things very quickly on the
chart recorder well internal
help give me a sense of what I wanna enter a credit or you're not
like politicians happened level I
written down on a piece of paper quite have the market a chart but not always
can expect my point okay it would look pretty paramount
somebody how but if I have it but I have a more
ballplayer back taxes you know I could I just want protesting what
too much too distracting for me i'm too
are more focused on trying it making me feel for the market
I don't want to have a plan that's too for nearly fifty involved
gonna distract me from kinda have better feel for the market
are better example I'm not today that that's for you other people
probably much would benefit from a problem from a more detailed plan
perhaps maybe you need more structure
in your trading harm so being able to
you know for steeped in a little bit about yourself your personality your
proclivities are vulnerabilities
strikes back I think that will help to guide you to come up with some good
particular process called herself weather maybe the idea
redoing your plan is process core are
maybe it's that taking a break after two cruisers
arm writing down the reason for the entry
are gratitude practice you know breeding
getting a biofeedback device and using that as a tool for
to help you to get regroup and after a frustrating experience or perhaps to use
that as an eight
school to prepare talk to trade for
you begin your day another crisis call to be a nice
on a nice some want but it's real actually
I'm up or talk about it but they don't actually do it and it's very it's free
really simple rescuing engage
and mental rehearsal on a daily basis where he spent five to 10 minutes
going through a pretty struck heard
mental hurdle are you know basically you're you see yourself
going through practicing what it is that you want to be like throughout your day
re to yourself we're going difficult situations
well for you the you know not necessarily be lighting of the tree is
going your way
at that's not what we're talking about here talk about it with everything
figures are you're going all derided
different situations active goal of
that having record opportunity to commit to perform the morning
try to look at the market you know back to be a great night
now agree call if you do you have that article
I would say that stick with it do here every day for at least a week
you get three weeks before you start to you know pro
you know before you have not working I don't see any results
stick with it mean some people might recognize that
why it take two to three weeks is because for many people
you know what is happening every day after about three weeks it began to look
more at the habit
but after reichman over her so it is it is actually activating
specific neurons in your brain there throughout Europe aquifer
your own which could activate that when we're engaging mental rehearsal
and furthermore you can activate we're here are get them to
I'm behave in a certain way kinda creating new neural circuits your
talk so you basically kinda you know you crack
think if economic practices and develop muscle memory
army could be paying thank you can create calendar on all your honor or
memory
gonna create some new neuronal track yourself that way
take the time to do that doesn't happen after one session in order
not K got it unit you have repeatedly for that that example
have a nice profit make Jharkhand
enough few questions here in the lounge sham again to keep it on topic really
got about 15 minutes left
sirhan down to your question there's a difference between
combine goals in life goals they're both necessary in my opinion
could you comment and navigating both these particularly the transition
okay though you know I
you know I don't know the the actual release specific differences between
them I'm aware that there's definitely
you know rules circles around it tight trading
come I don't live he and ok but Kentucky recognizing out here
being a the proper environment that you know if your gonna be trading
the firm's capital you know the firm you know
course the firm is to preserve capital otherwise people won't be able to treat
capital
right order to provide the capital available make capital available for
traders to trade
have got to preserve the capital which means risk management which is why
proper may be properly make a proper miss get help
risk management it's gonna be wrong number one that's why those rules are in
place
and and bill you know recognizing I think that
what you really happening of I think it's because the guy
the question is really a partly about I could be mistaken here
please correct me if i dont like the aftertaste but I think partly what
you're asking is
cover BC you're going to cash in a way you know it's going from
you know the difference well consequences here
are you know a lot about my experience related you know I'm being
home my promise is being watched combine writer and micro-cap
are being evaluated comes at how I trade in that
and that's you know at what way to trade in
with there's no monetary direct monetary impact
you have to be traded what's interesting is think about it
execute okay the combine on and what they're really doing
hopefully that they're focusing more on process with that respect because
there's no real money involved
now possibly but money is not have I'm
home more it's not as you know that not as big a deal
their little bit more nimble well get emotionally kinda freed up
to and trade better prominently Google life course money
no money matters picture whether it's your money your
firm's money the changes everything no
it's not a it's a very it's a very
I would play going along I it's probably even more important
that when we go live to have the right process called replace it yourself
here a lot of people arm
your fall down if they have a successful com are possibly or
maybe not even the company have a good week or two weeks trading activity days
or whatever it is
whether you're coming or not and that ad hoc committee people look at every step
in spectacular crash integrated into really you know
yapping you have to hear the story about your adult amateur everyone else for it
if not experienced that South this you know
giving back to profit but more so much faster than your paper money
com any room when I'm saying here is that
you know having a process called in place that really
addressing risk management okay and not
could be something like writing down
the reason for the intrigue for you enter that at
under the stairs I I wanna BP spills number of time to get
impost rates right gets back managing a trade it for that we'll
out the trade look at him mom if that's an example right there
cause maybe that's what you need to focus on more when you go and the
combine to comply
or maybe it's after having made some money mir leid
taking a break to set up what lot of thinking to consolidate
home before you and come a little bit overconfident and
start over five years for killing you later regret
of are some ideas for your thank you doctor
right another question we got your email in Minnesota shortened a bit
just get to the point um question was
what is your opinion and meditation as a way to clear the mind %uh promotions
after eight losing trade how bout after losing
trade losing date-rape the whole day was just
terrible okay sure
well the papers are going to have to cool can be used in a lot of ways
arm I don't know a pic necessarily be used
I'm not sure computer kukla career
the emotions after poem I'll offer about trading day
it can certainly help us to process the remote in to help us to get back on
track
medication could be quite a different way but I will say that I think one
other ways we can be used
more specifically than arm I dot maybe if not more specific but
more on com powerfully that may be what this person might consider
is at its max would be used to learn how to be more self-aware
evict also be used to learn how to not be
judgmental at your own emotions what I mean by that is
how you look up my focus or if you're looking to do any research
it on my phone at meditation most meditation
many purposes is really a a mindfulness practice the exercises
learning to observe arm
your clocks or what's going on insider view without touching it without
becoming a part of it
hard to separate neutrally and
of course becoming a neutral observer have yourself
have your have your thoughts and feelings
would be incredibly nice goal to be able to achieve and being able to have that
ability
so matter to be able to quote unquote clear the emotions love
with a lot for the trading loss or a bad day but perhaps
ability could be able to be aware
a political on a talk with you being able to recognize that global a
but very beginning stages a steering
that is present for and revenge sequence
arm I get locked every event sequence being able to recognize the very early
warning sign to that
if you're involved in a regular meditation practice it's more likely
you're going to be more winter in general
to the point where you're beautiful spot for people to search
it with warning signs very clearly stated every 10 sequence and perhaps
you'll be able to
even be aware that people to catch yourself I
I need to step away from the computer right now okay
so what i'm saying is that the medication ultimately when I T
benefit from it yes it's incredible benefit a wonderful tool
is expected self-awareness okay that's really what it comes down to
break or pick up because way beyond just being able to clear a motion
something actually even better than half its you learn
from more about the internal data how you operate you learn about your
personal cultures
using meditation to great critical thank you doctor
more questions have we got purchase question him a try to you
kid that's a little bit %ah last tissue protection advocates for illustrating
how are self-defeating issues liner
hunch conscious mind do you have a method for how we can identify exactly
what those deep issues are if so canned
future sailor or explain give us a little quick method
and how we can fix them well personal water differ
waves that one can trying to access what's going on to consciously
I was not one particular method it works well for everybody
went a little different here but the product what I want to do my
my one-on-one coaching but there's probably forever I get a little little
possible ways to access to content material that your
that's what we're talking about here accessing material information in your
unconscious
that will help provide clues as to why I want you do you think
yupp over and over even though he may not want to be
giving up for for the come out their dreams
had crutches material I am
I have people at my coaching arm with I will happen due to happen right
I given certain writing assignments arm writing about certain instances in their
wide
al Qaeda trading arm and a very structured way that could help kinda
generated media content material
arm there's a lot the happens a lot a different way
to look at what's going on
comedian and even some medication can actually be another 20
I'm there's a lot of ways you can
tryin access conscious material
here what are the other big way his
really puppy you know the way that I
you know I that which everyone to whether they take my car after
you coaching with me if you understand what it is they're
morning their motions and then try to understand why they're feeling that way
retire motions are re would be a clue as to what's going on
separately for us comment a lot of people don't even really know exactly
how you feel
yes they do you know how they feel they don't we don't know why they feel
why it might have a separate like it might be accessed and governor traded it
might think it's because they're quite
the street may not work well that's true but there's probably even Peter
or subconsciously reasons why direction if it could be because
your freighter straight after work if my school and more
confirmation that they're not going to succeed as a traitor that's really
at a much deeper anxiety in the fee for fear that whether this particular trait
is going to work or not
I'm it so you know really being able to understand
home yourself transit how
from you deal with challenges
home what makes you care how your personal calls from operates
contact all where those are all good for example
have understanding a twenty here go on what's going on you subconsciously
report stopping me that that be equally
from public either leader you know have
more than a half to two-thirds have and have to work and if you wanna make
coaching
and work around that stuff and can be difficult to get your arms around
because
your car to is not something that has a big party postcard
on a track here I am this is exactly what's going on it's a little bit more
first for slippery to keep you hard to get your arms around
but it's definitely there and more you
practice try to get a handle on it the more you to get a handle on it
no have to be prepared thank you doctor
next question we got here from now but I know we are running out of time here so
legally a quick answer your doctor and your as her your comments
and hearing of focus to compete and engaging
itself sabotage talking about an opinion here
is going to ask you for your opinion what is your opinion stating it numbers
hopefully a traders
see winner and loser board we think you then
yeah it's a good question arm
gosh you know I've got mixed feelings about I can see pp hedges and
and the disadvantages about are
spectacular I posted something on my blog
a couple years ago I think it's called the president carter publicly
disclosing your her posting your traits you like trade something like that
a couple blocks apart from a couple years ago i think i cud how are you
similar to hear you know staying you know public perspective
trade results similar to that describes a car that
are you know the from the pro side you know it kinda
can provide inspiration kemper by
guide for people crossing our fingers with someone is doing it
you know maybe if I can be more what they're doing it might help me home
health care to things can be helpful
home on the downside you know it can also distract people working
make people frustrated leaking make people mom
I make them feel like I'm
you know who got killed her making money are not adequately for credit card like
you're being exposed to other people highlight-reel order highlight-reel
if you'd singer focused on her with being displayed at the good stuff
you're not ripping all the other stuff harm
so you know there's Discover card that and I have to say that
arm I think both work
actually in both work arm taxing both not working
arm units over you know asap
a convicted because republicans maybe made it up to people who are who are
listening
but gotta pick be curious arm our home
among the people here who were maybe it's not perfect well
kinda curious like how people feel about that because
I'm you know maybe should be a public vote on that but
you know it appeared I've always wondered about to be honest with you
unit
are again icing it cut both ways not sorry but I'm not giving you attitude to
be answered but it's it's something that I'm
it would be a definitive answer no sorry about that
right to meet its what one highlights I remember I V
you know highlight-reel find one
and in a lowlight reel: for another was some World Series is a game 7 Joe Carter
Mitch Williams both X cups by the way
and extrano
ronald was he was up to bat against Mitch Williams
bottom in the last game the World Series and Joe Carter its home run
in which the World Series I mean it he went on: really to just be an announcer
really Nathan should be a community that is going to be a lot
your and Mitch Williams it's not a couple years and with his way but to
he said the highlight reel sometimes there's somebody that
is benefiting from the highly real
and someone sometimes are some feel it's not
self yeah me it's it's it could go either way
I about think we can to see we got just time for one more question here
I'm plan question is from
hi catch cage 615
I here's a question if we cue are working trying to predict the future
price range
should you wait for target or entry point
and let time past answer
accusing this point asks you know in general medicine PA
not but after they called patient with that and that is beside
saying yes having an affair we also have to be paying attention to
possible changes stand what I mean by that
you have to adapt I mean so you have your your your
your real-time plant which is to
waitin can't wait for the still but
first market you nor
paper dynamic right they don't just down
operate same way of all the time governors new catalyst
a comment about the market called but I'm are
information back into the market new buyers and sellers like a minute our
no yet there's a lot of change in Napa
and you might have to adapt and change that plan to fly so
general say yeah it's a nice way to kinda traders can't wait for the market
to come to you
specially for your entry for in general it's usually a good way
trade for a lot of for arm populate rate but for many people it's a good way to
trade
perfect I'm you know it's going to be fixed now is a couple to that being
aware
when you have to adapt on the fly I right
yet maybe get a quick answer your last question %ah this is from IQ gad
how can you to a different shape between fear stopping me from taking a good
entry
versus patients waiting for good setup
yeah well question so a lot about it going to have to do with
I'm how much in general as a person
you are get how you can you get frustrated
have usually of our most feared missing out you gets triggered
and be able to recognize when mack et triggered versus
the normal anxiety of waiting because waiting
for the still waiting for everything to light up waiting for the level to
convince me get filled
I mean there's a certain amount of natural like that even matter how good
of
how good have a traitor how well-developed you are a cricketer going
to be something is a
you know waiting wondering about her wire what happens
so be able to differentiate between that normally lady purses
something at a little bit more dysfunctional
anxiety that's being driven more curly no crown
you know this constellation around what
aka trading was for yourself to paper Piper frustration
and being able to recognize the difference because of the different
types of frustration are going to be talking to different actions for you
proper
doctor appreciate the time with you again now
hopefully our guests were like wow was to Skype quick stop
we do have the doctor I'm as featured
educator here Friday's and
doctor very well said
very great session here and I appreciate your time with us and
I'm really sorry if we did miss some other questions
we did miss summer the crisis of you want to ask those questions again
email those to support its have separated acecomm welcome those
questions up
for state doctor in some next time
like to thank you very much and once again I had a good time
and asleep did first so that was good for the back in the new year
and again i'd him whatever you want to consider you to come up with their own
resolution for the year which is the canal please pick up a process called
her to
your stuff prior how to get there okay with that but you know what and
like he said talk to her earlier before the interview
this is a great topic start the year and I mean you know you
as we take steps into this new year sometimes we forget to set goals
an asterisk at a rewind and say okay out let's try this again but
fantastic topic attack you have a good one until next time
please gentlemen doctor and you medicare for
substance traders market therapy her I thank you
of architects of time secured but I'm
ok mine
ok