Knowledge Is Never Enough
Scroll down to the Second video to see this month's webinar from Rande Howell, Trader Psychologist
-- Mastering the Silent Partner that Holds Your Trading Hostage.
This Month's Educational Webinar by Rande Howell
My Traders State of Mind
You have a silent partner in your trading. You do not see him until he becomes the out-of-control gorilla that takes over you trading mind and destroys your capacity to think clearly. You would never even notice him – if you didn’t know what to look for. Come learn how to spot him before trouble. And to master a new partnership between your thinking brain and your silent partner (your emotional brain) that stays calm and cool in the midst of uncertainty.
Click here to be taken to the article that expands this.
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.
Ignoring your emotions is like pretending not to see the iceberg that the Titanic hit. Dangerous. Your emotions are your silent partner, whether you like it or not. Like a silent partner they can take over the trading mind and create havoc. Most never see the damage until it is too late. Come and learn how to master spot your silent partner so that you trade emotionally smart.
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?