Ive been studying the stock market since the beginning of the pandemic
Spent every moment I had in my day studying
Used every break, up till 3AM everyday studying waking up by 8AM the next day to code for months
I didnt take weekends to reset
no lol f**k that, I just study more
POSITIVE TRADING PSYCHOLOGY
It’s a surreal privilege nowadays to read @steenbab ‘s new book while flying to see him speak live this past weekend at the @smbcapital Trading Summit (Brett is an incredible speaker full of expertise, humor, & real-world anecdotes).
Here is what I took away from his new book, Positive Trading Psychology:
-Go broad before you go deep.
-“Successful traders, like successful businesses, embrace the beginner’s mindset: they love learning new things. Their true edge in the markets is the ability to discover and pursue fresh edges.”
-Consistency isn’t about consistency of outcomes. Trading has slumps, drawdowns. It’s inevitable. Consistency is applying the same process to grow and evolve through those periods of outcome variance.
-“Whatever will make you successful in trading is something that, in some way, you’ve already done successfully in another arena of life.”
-“If we don’t have very concrete plans for losing and drawing down, we cannot prepare ourselves for the levels of risk-taking that could make us truly successful
See my video on this: https://t.co/Aje4tO1HQ2
-Positive psychology is holistic. It begins with your morning routine. It consists of your trading routine. It consists of your relationships and activities outside of trading. And ends with your bedtime routine. Everything you do builds up or breaks down your psychology.
-I see this all the time on the retail and prop side: working within a trading pod helps every aspect of your trading and Brett notes the psychological benefits as well. You are most resilient to survive the rough patches when you’re part of a team.
-Historically, psychology has focused on the mentally unwell and most people only focus on psychology during the rough patches. This book emphasizes the other side of the spectrum and how important it is to build positive psychology practices.
@TheOneLanceB Ty @TheOneLanceB, signed up for the advanced program!
found my niche and reached profitability by the end of 22’ but made the wrong business choice spreading out vs refining, struggled picking my head back up and decided to step back 6mo ago to regroup
thank you for doing this🍻
@daytradingzoo@tradersync always keeping it real
one advice I needed when I was at my all time mental low is stop bleeding asap and double down on what made u find ur success in the first place
uve come a long way, inspired many including myself, if others can do it so can u
u have and u can do it again🍻
I AM THE VERIFIED @KINFO GOAT 👑🐐
Yesterday I decided to takeover the @Kinfo leaderboard using my personal trading account. Sorry @Steven1_994 much love & respect 🤣 (@Kinfo plz confirm authenticity of my #1 All-Time Top PNL leaderboard position)
This will be the last time I verify myself & lead by example how supposed “Gurus” w their Rolexes & Lambos can easily verify their trading. I have ZERO affiliation w @Kinfo but believe their platform to be independent & tamper-proof.
I am a modest private person that prefers not to be public, but this is outweighed by the benefit of having a platform to help other traders find success while modeling the importance of giving back 🌎
I am not on here to give real-time alerts or execs or run a discord. I am on here to TEACH YOU ALL HOW TO THINK ABOUT TRADING & DEVELOP YOUR OWN PATH by sharing the knowledge I’ve built up after 30,000+ hours of screentime. Given the importance of trust in an industry of frauds, I set the standard to my audience as high as possible.
I do NOT actively trade like I used to & mostly stick to the big opps. I suspect in the coming years, I won’t trade at all as time gets allocated to giving back & other passions.
Now the question you all should be wondering… “Why all this effort now & where has all your time been going, Lance?”
If you are a supporter of transparent REAL traders sharing REAL knowledge, give this a RETWEET & stay tuned…
Next week I have an announcement to make 👀📣
Christmas Giveaway For Traders!
There was one book that changed my trading,
And I want to give it away to one trader this Christmas.
In the hopes, that it can transform your trading too.
"Evidence-Based Technical Analysis" - David Aronson
Like & Retweet this post to enter!
Most trading chatrooms failed to teach me how to make systematic strategies.
So I have been dusting off old strategies that I no longer pursue or trade.
I'm sharing them and the backtested results too.
But unlike a $200 chatroom, here is another one for free:
Over The Past 3 Years, I've spent 100s of hours developing and testing systematic trading strategies.
And the truth is, I have a lot lying around on my hard drive collecting dust.
So instead I'll release some backtested strategies for you.
Here's the first one:
Last week I made a little over $50k trading AI stocks. Everything I touched turned to gold. This Monday, scans and my trading process told me to proceed w caution and protect capital. Both physical and mental. 0 for 3 on my day trades this week. Losses were $78, $300, and $270, totaling $600ish. I consider this week’s trading to be JUST AS GOOD as last week’s. It’s not about the money for me. It’s about the performance and execution of my plans. A good cut is JUST AS GOOD as a good win. BOTH give me MORE confidence. Focus on execution, performance, risk management, your psychology, your process. The rest will take care of itself!!