Trading Psychology

Your Brain Uses More Energy than Any Other Organ Therefore, the brain needs to conserve what energy it can. It does that by attempting to re-use known and “safe” neuro-pathways….Take advantage of this and build profitable neuro-pathways.

The brain tends toward the well-worn path…

In trading, one of the worst things you can do is repeat the mistakes that made you money…. The probabilities are on the side of following the rules day after day.

A good trade is one where you followed your rules…

The traders that keep good records, and really analyze their trades do best.

Treat Day Trading as a Business Create a mission statement for your trading business.

In the Beginning, All Day Traders Have Challenges… In the Beginning, All Day Traders Have Challenges…. It’s your job to overcome them.

Process over Profit. Don’t let your desire to make money outweigh your desire to follow the rules… The money will come after you consistently follow the rules and master your edge.

Most people would rather keep a $100 bill than have a 60% chance at getting $500

Focus on Goals You Can Control You can’t control the markets. You can control how you trade in response to what the market gives you. Always ask, “Is this action getting me closer to my day trading goals?”

Participate! Get in the chat room. Listen. Ask questions. Call out set ups. Don’t take a trade unless you understand it.

Specialized knowledge Discipline Consistency New Traders Fight Emotions Until/Unless Their Knowledge and Confidence Wins Out Specialized knowledge Discipline Consistency

An actual graduate of Rick’s Day Trading Class that did not follow the rules

A graduate of Rick’s Day Trading class that did follow the rules.

Only swing at pitches that are in your sweet spot…

Practice How You Would Play Treat the simulator like it’s real life….

Analyze Your Trades Are you really following your rules? What’s your niche? What patterns are you best at? What times of the day do you do best? Are you keeping a detailed log? Are you reviewing that log? Are you making videos? Are you participating in the chat room?

A Good Trade is One Where You Followed Your Rules Review your rules every day… (flipping through rule cards helps because it’s active)

“A man becomes what he thinks about most of the time.” Emerson “I am a consistently profitable trader that follows the rules, trade after trade, day after day. I become better ever day by learning more each day.”

More Affirmations I have a proven strategy. I follow my rules. I become a better trader every day by being totally responsible and aware.

The End https://www.youtube.com/watch?v=zZfean3P9gA