Trading Mindset coaching: ABCs ... got ideas?

KCalhoun

KCalhoun

Here's a basic slide I designed with trading mindset ideas to keep in mind, for coaching new/struggling traders for my free saturday webinar ( www.trademastery.com/twafree/ )

goal is simple talking points for making improvements, big-picture meta thinking

help me fill in the blanks .... what's missing? other than specifics re strategy, t/a setups etc which i cover elsewhere. thx

mindset.jpg



ps normally i avoid this type of basic mental stuff, but I've got a fckload of newbies to coach :p

twa6398.jpg
 
KCalhoun said:
Here's a basic slide I designed with trading mindset ideas to keep in mind, for coaching new/struggling traders for my free saturday webinar ( www.trademastery.com/twafree/ )

goal is simple talking points for making improvements, big-picture meta thinking

help me fill in the blanks .... what's missing? other than specifics re strategy, t/a setups etc which i cover elsewhere. thx

View attachment 247314


ps normally i avoid this type of basic mental stuff, but I've got a fckload of newbies to coach :p

View attachment 247315
More...
FAILURE: It's normal but its abnormal.

Then explain that failure is normal in trading because its impossible to see the full picture, we trade on limited information. Losses are everyday occurances and must be taken without beating ourselves up.
But it's abnormal because accepting failure is not a natural human trait.
We need accept our losses all the while improving our efficiency/methods/systems/behaviour in order to reduce failure.
 
GONADS: When you have a winning system gonads are a must, you need to stick to your plan.
Impulsive deviations from your methodology displays a lack of discipline and belief.
Often times the best trades are those we doubt in our head and but align with our system signals.
Gonads can mean placing trades away from group think and your own emotions.
Note: for this to work you must be convinced your methodology has merit.
 
themickey said:
JELLY: If you feel your legs turn to jelly while trading, this is a sign you are trading blind.
Hope is not a method.
Go back to the drawing board and start again on design before you trade again.
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I was impressed by the fact that you came up with the ABCDE follow-up with FGHIJ.

I am I, inspired. lol!
 
KCalhoun said:
Me too.... fking brilliant
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I'll do one more, then someone elses's turn....
KISS: a natural impulse newer traders have is the thought that trading is complicated and a way to manage 'complicated trading' is to have complicated methods.
Nothing could be further from the truth.
A myriad line system will often work no better than a zero line system.
Creating something complicated can stroke our ego that we are not only designing something sophisticated but also giving the illusion of progress.
Think like this (I tell myself) the traders of yesteryear standing in the pits had no time for trading and drawing moving averages and a plethora of hundreds of other trading indicators, too numerous to mention.
If you are caught up in designing something superduper, chances are you won't find the time to trade.
There is no perfection, more complicated, more problems.
 
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