My Traders State of Mind
The need to be right or to control outcome is a huge barrier to the effectiveness of a trader. That effectiveness is the trading psychology edge needed to drive your method edge. But you have to give up the illusion of control. Learn more. Watch this video from Rande Howell, trading psychologist.
This Month's Educational Video by Rande Howell is Below
The Mind you bring to the management of Uncertainty is the Real Edge in trading. It is yours to de- velop or to remain stuck in performance. And the markets do not care.
It's always there. The potential. At moments you see it in your performances -- they flow. At other moments you feel what the zone really feels like. Then it is gone.
You can't seem to tap what is already there. Learn in this webinar what it takes to make that potential become real. It takes courage to change. But that is what it takes to claim the potential that lives within you. Learn more. Watch this webinar.
It looks so do-able (and it is) until the money is real. Then something happens. In an emotional ambush, a trader's need to be right or his fear of losing corrupts a perfectly good trading mind. This is the missing skill. They do not grasp that the certainty based mindset that they bring to trading will never bring success. Trading success requires developing a probability based mindset. Management of emotion and the hidden beliefs you bring to the management of uncertainty are the fundamental psychological skills needed for success.
Without training and internal courage, this is the last thing you will want to tackle because it forces you to step out of your comfort zone into the discomfort that facing uncertainty causes to the untrained mind. This avoidance is why you stay stuck in unrealized trading potential. You come to realize that the health of your trading account is the only honest way to see your real beliefs in action (or a benchmark based on the trading account). Beliefs, emotions, and performance are tied together and the trading account is the only real judge. It will hold you accountable for your performances. This is the alchemy that gives rise to the Traders State of Mind.
Successful traders are not trying to control outcome by external means. They are learning to manage their internal experience and, thereby, controlling the mind they bring into the moment of execution. By letting go of the illusion of control over outcome, they learn to control the one thing they can control -- the process of trading. This is their edge over the herd. Do you want to learn how?
Knowledge Is Never Enough
Scroll down to the SECOND video to see this month's educational WEBINAR from Rande Howell, Trader Psychologist
-- DO YOU WANT TO BE RIGHT OR EFFECTIVE?
This Month's Educational Webinar by Rande Howell