*This online workshop was recently completed. We are working on offering the recording as a new course in the near future.
Traders, trading coaches and mentors everywhere espouse the importance of discipline. Yet many, even some professional and famous traders, find that sticking to a plan isn’t quite so simple. Traders will swear to themselves they are going to do X and then do Y. Then on top of whatever capital losses emerge, guilt, shame and frustration run rampant.
But what if the problem is with the understanding of how discipline works and not with the traders’ inadequate character? What if the unique uncertainty of the market combined with the way the brain reacts to that uncertainty is a completely different mental challenge than conventional wisdom says it is?
Delivering the latest scientific insights on how behavior, emotion and thought work together, the workshop will provide traders with a much more realistic understanding of how to create discipline. Using the dual trading challenges of holding onto winners and cutting losers, the workshop will cover the following:
- The latest scientific evidence on the actual ingredients in a trading choice.
- Strategies and tactics derived from this evidence on how best to overcome impulsive trading.
- The personal and situational factors that determine how difficult maintaining discipline will be – this will include an abbreviated discussion on fractals or how your need to be right or perfect can influence a trade exit.
We answered these questions:
- When I am waiting on a winner to move further, what do I do?
- When I cancelled my stop, and now have a mess to look at, what do I do?
- How do I mentally and emotionally recover from disaster?
- How do I handle impatience?
- What do I do when I feel I simply cannot take this loss or I have to make money today?
- What are the simple things I can do to improve my mental state?
Note: Successful trader John Netto also joined us. John is the author of the highly acclaimed The Global Macro Edge and he has had one of the most successful track records posted on the manager results site Collective2. He discussed how he predicts other market players’ moves and keeps track of his own fear of missing out.
Another client recently reported these results:
BEFORE: Win Ratio 55%, Average Win/Loss 1.5x. AFTER: Win Ratio 78%, Average Win/Loss 2.3x
If you would like to consider enrolling, contact Think@TheReThinkGroup.net for more information.