Your success and failure can be predicted

So your habits have feelings. And you relate to those feelings you’re used to them. There’s nothing that’s going to catch you off guard. People don’t like surprises. You probably don’t either. So when you look at what you do, it’s likely because you’re very, very sure and have great certainty about the outcome and also how you were going to feel before, during, and after that particular habit now people and traders, investors all have different responses to how they deal with uncertainty. You know there are, it deals with managing risk, for example, do you only have on risk during the day? And do you take it home or do you take it home overnight? Cause there’s varying degrees of uncertainty. There’s more randomness around what we do in the markets than we probably want to admit. That’s for sure. But I think how a person responds to randomness and has to process the feelings around uncertainty has a lot to do with their behavior around trading smaller folks who don’t have enough money and are underfunded who, and in who, my opinion probably shouldn’t be trading.

You should be saving your money and building up a grub stake so that you can afford to trade higher priced securities rather than having a smaller account of less than $10,000 and trying to trade your way up to financial freedom with penny stocking. And otherwise during the day, to me, you’re just starting with a whole bunch of bad habits, but we’ll get back to that at another time when we’re dealing with uncertainty, depending on how you feel about that. Because uncertainty means risk. And there’s a barometer of that or a thermostat of risk. If you have a trade on for five minutes there’s lower risk doesn’t mean an outlier event can’t happen to you during that period of time. But it’s probably an okay estimate to say that the less time you have money committed in the market, the less you’ll have to deal with the uncertainty. It’s probably safe to say that the longer you have positions on the greater degree of uncertainty from an emotional standpoint, but when you look at it probabilistically and you know that each instrument that you could buy as an investment or hold as a trade has risk premia attached, you’re typically rewarded for that risk premia. And when it goes against you, you can cauterize it and move on.

Remember we talked about this wive’s tale about stops getting run to hurt the long investors. I understand that there’s computers. And I can understand that when orders get executed, people learn commissions, but if something’s going down I don’t find that market makers are going to want to drive the security down to buy something. That’s going down. You see what I’m saying? Because then they’re going to sell it to whom. And at what price, a lower price you see. So I don’t, I don’t necessarily agree with that type of what must some people think areconventional wisdom. The problem is is that people overhear it and they hear it hear it said once or twice. And now all of a sudden they accept it as truth without really fully thinking about what the moving parts are, how are they served by running stops and committing their own firm’s capital to an instrument that’s going down. Because they can see the entire market. Why wouldn’t they wait for the thing to bottom and consolidate and then buy it on the way back up.

Now in certain circumstances, market makers have to buy. Because that’s where they stand in the marketplace. They have to publish quotes and they have to bring stock in and, and they have to have stuff to sell. And that’s part of the deal. But I feel like the reason I bring this up in particular is because now that gives you a feeling tone that you can’t trust the market. And it’s really not about the market. It’s about you. You have to trust yourself, you’re powerless over whatever else happens. All you can do is control your own behavior. So you need to have absolute clarity about what it is that you’re doing and also why you’re doing it because it’s your emotions that are driving the whole thing.

Now, this is why I find it difficult to support a lot of the stuff that I see for sale on the internet, because until a person knows how he or she or they are built, there’s no guarantee that any of what you see is going to be meaningful for you. It might be interesting as a data point. But when you think about life and from your emotional equations, each system, each chart pattern has its own vibe that it gives off. And if it happens to gel with you, then that’s a happy accident, but that’s random in and of itself. That’s why I like to say, it’s not really about systems or chart patterns. It’s about something that works for you that you can back test and see at least will it have made money or would it have made money over 10 or 20 years?

Anyway, I don’t want to go on, we’ll pick this up again tomorrow. Please consider subscribing because I’m able to get some good data about the episodes that you like more than others. And then I can focus my efforts on those or those topics. If you haven’t already gotten a copy of the audiobook version of The Inner Voice of Trading, you can get it for free at MartinKronicle. It’s on me. The download link will be in the email. And , thanks for being here. Folks. I will see you tomorrow.

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Being emotionally connected to your actions

So let’s go back to last week’s conversation. We looked at the emotional models that we run that show up in a lot of things in life. So not only do those models show up in your trading, for sure, they’re likely in other areas like relationships, friendships in your work, and you can learn a lot about yourself. If you take a take a minute and just say, okay, well, what’s the emotional model I have in my love life. What’s the model that I have in my platonic friendship life. What’s the model that I have within my nuclear family. And it’s not good or bad. This isn’t about judgment. This is more about learning about yourself and what makes you tick. So then you say to yourself, I want to affect some change.

And we’re all basically on some level, there’s a lot more to it, but on some level, we’re the sum total of our habits. And our habits are things that we do over and over and over again. Sometimes we do them consciously. Other times, we’re doing them. We’re not even aware of them. So when you look at the habits or the things that you do, and you look at them and you conjugate them to your emotional model, you can start to understand on a deep level. Why do you do what you do? You could also understand, because I’ve mentioned a few times on the show, why people set New Year’s resolutions, but then never hit them. It’s because they’re not really connected to what they do or why they do it. They don’t know how these new actions are going to serve them. And if they do make an attempt, you can see where, what or why or how it might not work. Because now you’re breaking up the band. The Police are breaking up and they’re all going to work on solo projects and that’s kind of painful. There are new feelings. So when you have a group of feelings that are strung together, and you’re going to try to affect change in your life, you’re going to have to interrupt and edit your emotional model. And that might feel weird. Might make you feel uncomfortable. It might make you feel excited. It doesn’t always have to be negative. .

I was talking with a friend recently who had gone through a breakup and we got into the details, but one of the things that we were able to figure out in talking about this, I did, I do most of the listening. And he said something that was pretty interesting, that I kind of knew in that he’s had over the last 20 years five or six different significant partners. And although they all had different names, they were effectively the same person. And I thought that was pretty, it was good insight for him to achieve. We had kind of seen it be we can observe everybody’s behavior. And again, it’s not about judgment. It’s not saying that so and so is a loser or otherwise it’s just an observation, like what makes the person tick? So you can do this to yourself and look and see, okay, well what are the results that I’m getting? How are these results serving me emotionally? What are the steps that I’m taking to get to these results? Because if intentions equal results on some level, the results that you get are manifested, but exactly the way you want them.

And that’s tough to hear for some folks, especially if they’re struggling or they’re trying to figure it out. So that’s one of the reasons why I kind of pre-empt a lot of this stuff and say, don’t do certain things. Even though it runs in the face of everything else that you’ve heard, because I know the emotional model that goes with that behavior and I can foresee where it ends up because behavior predicts where you end up. So when people say, oh, you really know how to read people. It’s like, well thank you. But what I really understand is human behavior because I studied mine and I studied my peers so that I could learn about myself. I don’t want to find myself in a situation that I have no business being in figure, especially if I didn’t put any thought into it. That’s the stuff that kind of drives me crazy. It’s like, how the hell did I end here? How did I, how did I end up in this situation?

So luckily for me, I don’t really find myself in these spots where I’m in over my head because I measure, if they say the carpenter measures twice and cuts once – I measure 85 times, I’m not anal, but especially like business stuff or otherwise really have to figure out why do you do what it is that you do? How are, how are your needs met? What emotional needs are fulfilled by you doing what you do. So we’re going to talk about that more this week because there’s a lot of ways to look at it. And I think at no extra cost to you, you can certainly look at it, but I’ll leave you with this today. When you think about all the traders that you know, that aren’t making money consistently, you can say one thing is for sure. And that is, they’re probably not behaving consistently in and around a model that they’ve designed by themselves with no extra input that’s compatible with who they are as people.

And so now you’re asking them to feel different feelings that they’re probably unwilling to feel. And as long as that’s the case, you could put down a big bet that that person’s going to stay in that same spot for years and years and years. Because until they go back to the place or the root of the cause of everything, then there’s no change that’s going to happen. And the struggle will continue. So one way or another, you have to face that and those feelings more sooner than later, if you in fact, want to affect change. Anyway, that’s all I have for you today. We’ll pick this up again tomorrow. Thanks for being here, folks.

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How your actions serve you emotionally

I hope you’re having a good Friday or you did have a good Friday depending on when you listened to this. So now, if you’ve listened to this week’s episodes, especially, I’d say from Wednesday through today, you can kind of better understand what I mean when I say “what is your, why?” Why are you doing what you do? If we’re all pleasure seekers and avoid pain as well. You can look at your emotional model and see the combination of all the feelings that you need to feel along the way of your process in order to get what you want, you see? So it’s very complicated to kind of do without images or having another person on the show to bounce ideas off and this and that.

But it’s very, very interesting to look at this because if everything that you do is supposed to give you pleasure, how are you winning by not making money? There’s got to be another payoff. And so when you’d study this type of stuff, you can dig very, very deeply and see where it is for you. What is the inflection point? It might not be the entire chain of emotions. There might be one that you really look at, the other ones are kind of necessary, because they help you get to the one that you want.

Remember at the end, if you’re losing money, people can find joy in being a victim, even if they lose a hundred bucks, they can go create a pity party, which is really the goal. So it gets pretty deep. So not only do you have to have a strong understanding of your emotions, you have to be brutally honest with yourself because there’s nothing wrong with kind of coming to the conclusion that this isn’t for you.

And even if you’re working at a family office or a hedge fund what is the purpose? Because at those places you can go brag about your own proprietary research and how you put on trades and then parade around the office, or you can sit with quiet confidence? There’s a million different combinations here. But the key is when you look at the moving parts and I only put down some of the moving parts, you can really kind of discover who you are. And so when you say, what is your goal? What’s the purpose? What do you want your money to do for you? It’s to serve you emotionally. And so when you break down each part of it, and again, I only put a handful down, you can look and see what that combination is. Then if you’re smart, not if you’re smart, but if you want to kind of get more insight, maybe you can put or rank them on a scale of one to 10,

There is an emotional feedback here is the emotion that I’m feeling. But on a scale of 1 to 10, it’s a 2 then on the risk entry point, it’s this emotion, and I feel it on as an 8 with 10 being the highest. So this way you can really kind of see, not only what are the ingredients, the emotional ingredients of your trading model, you can see what amounts of each: go in like a whole egg, a cup of flour, half a cup of milk, so you can see if you add it all up. What are the different denominations of the feelings that you need? And then also the order. Now you want to go get a PhD in this stuff, go look at the rest of your life and the things that are important to you, I would make a pinky bet with you that this model might actually be, or show up in other parts of your life.

And so it’s not good or bad. It is what it is, but it gets to help you uncover and figure out who you are in this big game of things, because trading will push all your buttons and over time you just want to make sure that those are the buttons that you in fact want to get pushed. Because if not, you might find that trading amplifies what I’ve heard called your worst character defect. And that’s when things become a drag. That’s when things become a chore, when you’re really just trying to get one of the feelings in the chain of events, and then you could find another way to get that feeling in your life and not even have to worry about trading. Do that time and again, and you’re running a racket with yourself.

So it’s pretty heavy stuff. Obviously it takes a while to get to the bottom of this. That’s why we spend so much time doing it. It would be very easy to just teach you the slope of a trend line, and how to do mean reversion trade, and how to trade commodity spreads, and build a mechanical system for trading rules. That’s the easy part, but how does it, how does it fit in with you?

It’s like buying your favorite pair of sneakers, but getting it four sizes too big or two sizes too small.

You want to have it just right. So anyway, keep the emails coming in. I appreciate you all listening and everything. Please consider subscribing to the show because the data really helps me. And if you’d also like a free copy of the audio book version of The Inner Voice of Trading, you can get that at MartinKronicle for free. We are on Spotify, Apple Podcasts, Stitcher, all the places where you can get podcasts or you can just come to the site and play with the embedded podcast player.

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Emotions around managing risk

What would, so going back to yesterday’s lesson, what I would do is focus on one of the things that I mentioned, and that was, “what’s the emotional response when you put the risk on?” Is your right foot going at thousand miles an hour as you pump your heel down do you, do you jack up a cigarette or vape or whatever, of course I’m being a little facetious, but you can figure that stereotype out from the adrenaline junkie part of the office, how it applies to you might be in and around trust, right?

So you put the trade on and then what do you do? What actions do you take? What’s the emotion of those actions. Do you become hypervigilant all of a sudden, and you watch it tick by tick and how do your emotions change each and every tick?

Do you label the emotions “X”? “I’m exhilarated” or “I’m dejected” because win or lose everyone gets what they want. So again, my whole thesis was part two of that chapter, which was the goal is to develop a system with which you’re compatible. Is this really what you want to be doing every day? Because when I sit back and look at my early years of doing that, it’s cringeworthy ridiculous. But nonetheless, we all have to learn at our own pace. And that’s what the show’s about. Because I get to relearn things because again, I’m not infallible.

So you’ve got the risk on – you add the risk. What is the anticipation of adding the risk? What is that feeling? Because sometimes what you find out is that these emotions work in perfect compliments or they string together like a complex multi-variable, 4x cubed plus 2x squared, minus nine 9x = 7. And so you have varying degrees of these emotions that all have to line up a certain way in order for this to work for you right now. You might find that within the process, one of them is really important to you. There’s some that you want to avoid. “I don’t like doing research, so I’m going to subscribe to Action Alerts.”

“But once I put the risk on that’s when shit gets real.” Now how you respond to that might behave a lot to do with what you learned about risk: was risk labeled good or would was risk labeled bad by the people that were important to you in your life? How did they handle risk? How did they handle money? How they handle abundance, if they had any? How did they handle financial scarcity, if that was their milieu? Because if you saw that enough, that’s marketing in your very own house coming at you live every day from the people who mean the most to you.

So when you hear the expression “you’re your father’s son.” That can mean a lot of things. And I’m not going to go through the 85 different genders. You get what I’m trying to say here. They’re all important to me, but I’m going to save some time. So at the end of the day, when you put the risk on, that might be what you’re really looking for is I’m going to delegate everything else. You want to put the risk on because you’re an action junkie.

I just saw a tweet where a guy said that his sister was trading trying to scalp for 10 or 20 cents fully levered. And so there’s an emotional system that goes with that without not being judgmental, I’m just saying that’s one emotional model. So then the question becomes trust. You put the risk on, how do you feel about it tick by tick. What’s the benefit of actually seeing it tick by tick from an emotional standpoint. Again, if we’re emotional people, which we all are – systems don’t remove the emotion. How do you feel? What do you win at? How does it feel when you watch it tick by tick? Because there’s the micro and the macro. There’s the whole, I’m watching it tick by tick emotional response. And then there’s the actual feedback on the tick itself. So this stuff gets super deep. Again, it ain’t about charts dude.

This is the stuff that you can study and you can see, okay, this is what makes me tick. Why am I doing this? Because if the goal is to make money right now, you can conjugate your behavior around money and you know, behavior comes from how you feel. So let’s talk again about trust. If you don’t put in protective stops, because you’re watching it. Is it because you don’t like feeling reluctant or maybe you do like feeling reluctant? What’s the emotion around that maybe it’s about not just trust, but the trust is paired with control. “I feel like I’m more in control if I’m watching it tick by tick.” So now you’ve got the overall +/- on your P&L that’s given you an emotional feedback. You’ve got the tick by tick one. That’s given you amplified feedback. Then you’ve got the trust, which is probably the big governing issue overall in that “I can’t not watch it because then I’ll miss out on all these feelings of not watching it tick by tick.”

So if you’re into risk management and you know, you can put in a protective stop and you know that it’s a fallacy that stops get run. Market makers don’t want to buy stuff that’s going down. So stop with the stupid thinking. It’s ridiculous. Nonetheless people say these things that go unchallenged and sooner or later, it’s it becomes folklore. But what is it about the control that makes you want to see it every day or every tick? Whereas putting in a protective stop at the same spot that you would get out on a discretionary basis, what is it that you’re missing out on emotionally?

Because that’s what’s keeping the behavior going. Can you prove that watching it’s going to help you perform better? Because if you bought something at $50 and your stop was at $49.50, do you have to watch 50 $0.01 ticks? Or can you just put your stop in and say, “okay, well it’s the same percent loss.” How does that serve you emotionally? Because if you don’t study the behavior more importantly, if you don’t go to the root of the behavior nothing’s ever going to change that, I promise you. My hunch is – and I can’t be sure is – that if you’re watching it tick by tick, you might be excited about small gains.

But my ethos has always been don’t think of doing this to try to pull down 10 cents or a couple hundred bucks, think about pulling $15k out of a trade, make it audacious, make it more than what your account balance might be. Because if you can’t envision it, it’s not going to happen. And for all the R-based traders out there, you’re smart for certainly having discipline. But if you cut everything off entirely at say plus +3R – “I get stopped at 1R and I sell out at 3R” again, you can’t answer if I put you on the witness stand, “how do you achieve a 5R or a 10R trade, at least on some of the position?”

So this all comes down to how you feel about the risk that you have at varying stages of the process. And there is a combination that’s perfectly – that’s uniquely yours. That’s what I wrote in The Inner Voice of Trading. “I don’t necessarily want to trade like Michael.” I think it was like this. “I don’t want to trade exactly like Michael Marcus, but I want to feel the feelings that he feels when he is trading at his best.” You see?

I’m interested in your thoughts about this because it adds to the lexicon and as far as I know, no, one’s really speaking about all of this, but this is what makes people tick. This is what makes people do what they do around their money. And until you fully understand what the money means to you and why you do what you do around money, right?

I think you’re going to you’ll have an interesting journey that’s for damn sure. God knows I did, but I’ll leave you with this thought. If you could buy passively the S&P and get on average 20% rate of return every year for just sitting on your hands or go through active management and be a trader and get anywhere from say 15 to 20% a year as a trader net of costs and everything, which one would you do? What’s the answer for you? I can’t answer that for you, but a lot of it comes down to how do you get your pleasure and what are you looking to do? Are you looking to make money or are you looking to have fun?

So think about what trust is in your life? Because it’s in your money, it’s in your relationships, it’s in your friendships, it’s in your family, it’s everywhere. And the more you don’t address it, the trust stuff actually is going to grow. And it’s going to envelop you in more and more things in your life that are going to push that trust button until one day you become just so a person who doesn’t trust anyone or anything that you’re very, very hard to be around.

So anyway, I’m interested in your thoughts, please consider subscribing. We get some great data that helps me create new shows that are going to be worth your while and alsoI know this is important for you. So you’ve noticed that these episodes are also a little bit longer. I don’t want to be blathering because I can’t stand the sound of my own voice for the most part.

And I try to keep these quick hits at 5 to 10 minutes. Then I try to provide transcripts. So there you have it trying to do whatever I can to help you get the most out of this so that you could at least learn about yourself as fast as possible.

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Understanding your emotional trading model

So all of this has gotten me to start thinking about why do people do what they do? And the ultimate, my ultimate thought on it is that people are pleasure seekers. We do things to go towards pleasure, and we certainly do things to avoid pain. And I think from what I’ve read, people actually go to greater lengths to avoid the pain than they do seeking the pleasure. So what I started thinking about last night was when you think about trading, it said that 75, 80% of this is trader psychology and emotional intelligence. And the rest is the how to stuff, which is one of the reasons why I don’t really do lots of trader videos – it’s because anything that you need to know is already out there, I don’t have to give you my tilt on it.

Maybe it would be interesting. Some of the uber-fans, thank you so much, but I just don’t, it’s not a great use of my time. And two, I don’t think it’s integral to your success. But I did think that when you break it up, you might not know this.

You might feel intuitively that we’re all running two models at the same time – we’re running what we may or may not know as our technical model, what we know how to do are tactical trading. So that’s your process. We talked about routine and rituals. But then there’s the whole part beneath that, that you may or may not be in touch with. And that is what are all the emotional inflection points of you doing what you do, because that is really what’s running the ship, especially if it’s in your subconscious and you’re not aware of it.

So let’s take a look. Let’s take an example. So the first part of the trading would be, how do you isolate and find and pan for the gold? How do what you’re going to trade? Once you’ve had to decide on whether or not you’re going to do options versus futures versus stocks versus bonds, whatever foreign exchange. That’s one decision. So what is the emotional payoff of making that decision? And how does it serve you then? There’s the point of, okay, now I’ve picked my asset class. How do I isolate the names that I’m going to eventually look at and put on what some people call their wishlist? There’s another emotional bogey right there. What is that for you? What is that emotion and what is it on a scale of one to 10?

Then somewhere in there – and this is not in any particular order, but it kind of is what are your rules? Because now you have to start looking at the tactical part of it. Of how do you enter risk? How do you choose the position size? Where do that you exit? So that too is tactical, but it also gives you an emotional angle.

Then the next stage is once the risk is on, how do you feel about it? What’s the emotion there? Is it excitement? Or do you just not care? Because it’s just another day. That’s where I am. I don’t care. What I care about is the process, the overall discipline in the process. I don’t care about any one particular part, but nonetheless, some of you are where you are.

So now you’ve got the risk on emotional feedback system. How do you feel about risk? Are you watching the thing, thinking you can steer it or do you put your stops in and walk away? Because those are two different levels of emotional intelligence, not to say that the feelings that you’re feeling aren’t important and they’re not strong, they probably are. All right. So then you get to the point where you’re offsetting the trade. How do you feel about knowing how to keep losses small? Because there’s an emotion to the intellectual side of it. Then there’s also a big emotion to actually doing it in practice.

So we’ve covered the research, the risk on the risk management, the risk off. Then there’s the emotion of the aftermath. How do you feel about the trade itself? How do you feel about how you handled yourself doing the trade and how do you feel overall about being a trader or trying to manage risk? There’s an emotion to that.

So if you take away all the tactical stuff and you look at your emotions from each of those stages, that’s your emotional model. That’s, what’s running the show and you need whatever degrees of strength. So you can study this and then figure out how you’re built. A good example of how you can use this information is if you look at the very first step, some people are not that technical and they’re not really good at analysis. So what do they, you got it: Cramer’s Action Alerts. And in my opinion, you can’t buy your way out of that part of the business. You can use it to accent certain things, but ultimately you have to make a decision. So to me it creates extra work. So say you buy Action Alerts. And again, I’m a, I’m a Cramer fan. I always laugh at the assholes that blame Cramer for their failure. I was like, come on. In fact, what I say to Jim is don’t even reply to these people it’s beneath you…

But nonetheless, you farm that point out part out, because you’re not really great at analysis. You’re good at marketing. You might be good at adding and removing risk. You might have a good sense of timing that’s okay. But when you look at the model from an emotional standpoint, you can learn to highlight where’s your strength and where your weakness is.

Then again, I’m thinking from the 30,000 foot view, you could write down what’s the emotion of the need to watch it during the day. How does that feel? What is that feeling? What do you think? How does that feeling serve you? That’s where everyone falls short in my estimation is that they don’t ever ask you to evaluate what your feelings are. Like your feelings are trying to communicate to you. They really want to be advocates, not antagonists. So what are you, how are you talking back to these feelings? Are you resenting it? Are you going to try to bull through? Because I’ve got news for you. They ain’t going away. In fact, they might amplify until one day, you’re really faced with a “do or die” situation where you have to face that feeling. Hopefully it’s not when you’re in a 70% draw down…

Hopefully it’s not. After you thought that you could delegate all your wisdom to f*cking wall street, whatever on Reddit you see. So how does that feeling serve you if you farm out that part of your business, as opposed to doing it yourself, because then the whole system to me could collapse because if you don’t know what you’re doing in terms of picking your own names, how do to get in? When do you get in and at what price? How much do you have when do to get out? So as if you’re subscribing to a service that might be fine, because you say “well I suck at analysis and the research” so I need somebody else who’s got better skills than me to find the names that I would put on my wishlist. I’m fine to trust other people. Here’s some money for that.

Okay, perfect. But now you have to look at your higher power in the eye and say, okay, now how, how am I going to select from these 20 names? Which ones do I pick? Because that’s your responsibility. How do you feel about having that responsibility and what happens when you pick one and it doesn’t work? Is it Jim Cramer’s fault or is it your fault and how do you feel about taking on that responsibility? Is it your action when you make money, but Cramer’s fault when you lose, because that’s how a losing trader would think. How do you feel about being a losing trader and then what are you willing to do once you get all this information to change that? So now I answered the question. Why don’t you do trader videos? Because it’s not about the chart pattern. It’s about ownership. I said before kind of mockingly, every wants to quote Goggins and Jocko, but you have to live this – not be a sloganeer.

It’s not just about making quotes and sloganeering on Twitter. You gotta actually live it. And it’s hard. Trading is very hard because it goes against every bone in your body – “fight or flight.” Most people are not built for trading, but I’m not going to try to stop them from trying because I’m not a dream killer, but this is a good first step to kind of start to isolate.

How does the whole process serve you? Because those emotional tugs and pulls and otherwise are what really make you tick. The interesting part now is to say, well, which of those feelings are part of your conscious and which are within your subconscious, because those to me are the ones that are really running the show where you get a certain result. And you’re like, why does this keep happening to me? When that, when you say that to yourself, it’s probably because whatever you’re doing is being triggered from something that you learned from growing up or in your environment or from the people that are around you now and it’s dominating your behavior.

It may or may not serve you, but it’s going to keep happening until you address that. So this is what we focus on here because you’re not going to make any progress until what this model is. You could try to fight it. You could read another book, you could take another course, look at another trader’s results. And it’s ridiculous because even if I showed you how I traded, there’s no guarantee that you could ever replicate that because it’s customized to me, right? Just like if you go to Turnbull & Asser on 57th street and get fitted for a shirt or suit – they’re going to literally do 26, 27 measurements. And tailor something that fits you to a T. That shirt as nice as it might be isn’t going to fit me. Even though it costs $300-$400 shirt, you see what I’m getting at. So this model is uniquely yours. It’s not necessarily a weakness. It could be a strength, but if you’re not aware of it, then it is probably a weakness because you don’t know what makes you tick.

So this to me – I’ll go out on record saying this – is probably the most important episode I’ve recorded here before. And some of you might agree, some of you might disagree. But this is my paradigm in my belief system. I’m always interested though, in whatever points you want to make and feel free to write in because I’m not infallible. That’s for damn sure. But I’ve spent…this is my life’s work right here is knowing the inner game. And if you haven’t addressed that part, you find yourself struggling, this might be a good lesson for you to start doing the work on because I believe from a very Buddhist standpoint that men, women and non-binary people are the source of their own problems they’re suffering.

This is a computer generated transcript.

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