give me 6 minutes and I will make you a better trader... — Transcript

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1. 0:00How many of you have lost on a setup
2. 0:02because you were worrying about a
3. 0:03mistake that you made yesterday? Or how
4. 0:06many of you have stressed about an
5. 0:07outcome that is not even existent and
6. 0:10that fears made you trade completely
7. 0:11differently? This is all going to end
8. 0:14today because I'm going to provide a
9. 0:15mindset shift that's going to completely
10. 0:18change your trading if you listen to it
11. 0:20and you implement this advice. This is
12. 0:22not about discipline. This is not about
13. 0:23risk management. This is trading in the
14. 0:26now and trading in the present moment
15. 0:28because all our answers are going to be
16. 0:30in the present moment. Now what I mean
17. 0:32by this is a lot of traders start
18. 0:35fearing past mistakes. I made a mistake
19. 0:38yesterday. I made a mistake last week.
20. 0:40And these mistakes live rentree in their
21. 0:43head. They continue to replay this event
22. 0:46and simulate a mistake and think they're
23. 0:48going to make the same mistake over and
24. 0:50over. If we live in the past, it's just
25. 0:53going to affect what we have going on
26. 0:54right now. Think about this. The past is
27. 0:56over with. We don't want it back. We
28. 0:59can't get it back. It's history. Let it
29. 1:01stay there and let's focus on right now.
30. 1:04And a lot of traders worry about the
31. 1:05future. They're stressing out if this
32. 1:07trade's going to work out in the next
33. 1:08few minutes. Or they're worrying if they
34. 1:10don't take a setup right now, they may
35. 1:11miss it and not might not even provide
36. 1:13an opportunity in the next few minutes.
37. 1:15And they get FOMO into a move and they
38. 1:17chase something when really not an
39. 1:18opportunity is there.
40. 1:20The best moment is the present moment.
41. 1:23Every answer in the market relies on
42. 1:26what's going on right now. Every mistake
43. 1:28in the past was once the present and
44. 1:31everything that's going to occur in the
45. 1:32future at that moment in the future is
46. 1:34going to be the present moment when
47. 1:36we're aware of it. Your last trade does
48. 1:38not matter. The trade that you're going
49. 1:40to take tomorrow does not matter. What
50. 1:42matters is the trade that we have right
51. 1:44in front of us right now at this exact
52. 1:46moment. There's a quote that I read that
53. 1:48says, "If your mind carries the burden
54. 1:50of past mistakes, you're going to
55. 1:52continue to relive the same mistakes
56. 1:54over and over until they become an
57. 1:56embodied experience." Your painful
58. 1:59suffering and your frustration and your
59. 2:01anxiety is going to end in the market
60. 2:03once you stop trying to resist what is.
61. 2:06A lot of traders resist. Am I going to
62. 2:08lose on this setup? Am I going to make
63. 2:10money on this setup? and they're
64. 2:12resisting what's going on right now
65. 2:14because they are worrying about the past
66. 2:16or they're anxious about a future
67. 2:17outcome that is non-existent yet.
68. 2:20Suffering will end in the market and all
69. 2:22these mental pains or the mental
70. 2:24frustrations or the anxiety and the fear
71. 2:27and the even the greed is going to end
72. 2:30when you stop resisting an outcome that
73. 2:33is non-existent yet. If you keep
74. 2:35carrying your past losses into today,
75. 2:38you're going to continue making those
76. 2:39same past losses and continue making
77. 2:41those mistakes. Release the past. Accept
78. 2:44the losses. And this is the way I look
79. 2:46at the market. Losses are an essential
80. 2:49part of our trading because losses
81. 2:51provide data. Losses are not always
82. 2:54failures if we learn something out of
83. 2:56the market. I have a quote that I say in
84. 2:58my community that's like the greatest
85. 2:59risk is no risk. And having no risk on a
86. 3:02trade is worse if we create a plan for a
87. 3:05setup and not take it because we're
88. 3:06hesitating to accept the risk. And when
89. 3:08we're eventually right on the trade,
90. 3:10that's worse of a feeling than it is to
91. 3:12lose on the setup. Any action is better
92. 3:14than no action. Especially if you're in
93. 3:16a spot in your trading where you're
94. 3:18hesitating to enter, you're fearful of
95. 3:19losing, and you're just scared to have
96. 3:22risk on. Any action is better than no
97. 3:25action. And execution is going to beat
98. 3:27hesitation every single time. You're
99. 3:29going to learn more about taking a
100. 3:30setup, whether it's a win or loss, than
101. 3:32you would if you just didn't take a
102. 3:34setup. You're not going to learn much
103. 3:35out of that. I don't care about time.
104. 3:38I'm not worrying about what happened
105. 3:39yesterday. I'm not worrying about if
106. 3:41this market's going to move in the next
107. 3:43three hours. Time dissolves in the flow.
108. 3:45When you're thinking presently, time
109. 3:48starts to slow down because you're
110. 3:49focusing on the market right now. Now,
111. 3:52what I mean about time dissolving in the
112. 3:54flow is a lot of traders start staring
113. 3:55at their P&L and these thoughts become
114. 3:58intrusive in their head. Oh, I'm up 500
115. 4:01bucks. Now I'm down 200 bucks. I'm up
116. 4:03a,000 bucks. Let me take it. And then it
117. 4:05goes up $5,000. And these fluctuations
118. 4:07in our head start making us irrational
119. 4:10decisions. When you're truly present,
120. 4:12the market will slow down. When you're
121. 4:14truly present, clarity appears. Clarity
122. 4:18comes in the present moment because the
123. 4:20market provides answers in the present
124. 4:22moment. Whether we're not seeing
125. 4:23something, that's an answer in itself.
126. 4:26Or if we're seeing an opportunity and
127. 4:27seeing a setup, then we get that in the
128. 4:29present moment. Present moment makes
129. 4:31distractions disappear and clarity
130. 4:34appear in terms of opportunities and
131. 4:36setups that we're looking to put risk on
132. 4:38with. And the big one here is detachment
133. 4:40from the ego and detachment from your
134. 4:43feelings. If anybody ever trades and
135. 4:45starts feeling anxious, they start
136. 4:47sweating, they start kicking their feet
137. 4:49under their desk and you know you're
138. 4:51about to make an emotional decision,
139. 4:53start observing that from outside of
140. 4:55your body. Start saying, "Hey, Carmine,
141. 4:57I'm feeling a little anxious about this
142. 4:59setup and I'm observing my emotions."
143. 5:01The problem is is we become so attached
144. 5:03to our emotions that we let the emotions
145. 5:06make the decisions for us. But if we
146. 5:08know we're in a scenario where our
147. 5:10emotions are flared and the only way
148. 5:12we're going to get to this is if we're
149. 5:13thinking presently, then we become an
150. 5:15observer of our emotions and our
151. 5:17emotions are not going to make the
152. 5:19conscious decision for us anymore. So
153. 5:21the edge in the market is not
154. 5:23eliminating our fear and greed. It's not
155. 5:25saying, "Oh, I feel these emotions. Let
156. 5:28me not trade it." It's feeling these
157. 5:30emotions and observing it and not
158. 5:32letting those decision not letting those
159. 5:34emotions make the decisions for us
160. 5:36because we are observing them. So if
161. 5:38anybody ever feels these emotions, take
162. 5:40a step back, think presently, hey, I'm
163. 5:43feeling this right now. Why am I feeling
164. 5:45this? And then don't let those emotions
165. 5:48make the decisions for us. It's not
166. 5:50eliminating them. It's just simply
167. 5:52observing them. And trading is not about
168. 5:54predicting the future. It's about acting
169. 5:56and reacting to what's happening right
170. 5:58now. So, if we can forget about the
171. 6:00past, stop worrying about the future and
172. 6:03trade what's happening right now, it's
173. 6:04going to give us all the answers in
174. 6:06terms of our risk management, in terms
175. 6:08of our setups and opportunities, and in
176. 6:10terms of our discipline. If we can do
177. 6:12this, I'm very, very confident you all
178. 6:14will be a much better trader. And this
179. 6:16is a very important video to save and
180. 6:18bookmark and always reference back to if
181. 6:20you feel like you need some help
182. 6:22psychologically in your trading. If
183. 6:24you're new here, hit that subscribe
184. 6:26button. Drop a like on this video if you
185. 6:28learned anything from it.