2015 10 08 16 31 STOP Emotional Ambushes in Your Trading Develop The Patient, Disciplined Trader W

Welcome everyone. My name is Randy Howell with my trader state of mind and I want to welcome each and every one of you here. And the first thing I also want to know is that we have just converted to Windows 10 and to another computer and I want to make sure that everyone can hear me. So if, if some people will just start hitting yes or no on the answers to let us know that you're hearing me and everything is copacetic, that would be, that would be really thankful. There we go. Okay, everybody can hear me. Here's what I want to do. I want to talk about what nobody apparently wants to talk about.

Why is it that so few people are making money in trading but everybody pretends that everything is good, everything is fine, and that all they have to do is find the right thing, the right indicator, the right teacher somewhere, if I just land in the right place and accumulate enough toys, things I can pull off the shelf, that I'm going to become a successful trader. And the reason this workshop, this seminar is really for experienced traders is because I don't believe that people with only 2, 3 years of experience.

Have come to a moment where they actually begin to realize that.

Self deception is the most dangerous part of a trader's growth. And it's the one that fails in the biggest. Okay.

Today I was talking to a guy who says, you know, I can beat those emotions. You know, I can, I can get them under control, you know, and then I've got to make money. And what I'm looking for are people have been around a while and they've been around enough a while so that they, they're looking at the end of the journey if they don't, if something doesn't happen, if they don't find the solution that they are going to either run out of capital or run out of time for trading. Except for the hobbyists, ones who just like kind of doing it for fun and to dream and play, but they have no intent of leaving their daytime job. That's who I want to take a look at. Okay? And as usual, for those of you who are new, you're going to discover that I hold questions toward the end. I'll be happy to take them, but we're going to wait toward the end because I want to get along with this. And what I want to do is this is again what I want to get out of here. That literally, this is for experienced traders ready to wake up and really begin to ask the question, you know what? I know that something's wrong and I know that something wrong appears to be with me. It's not with all the teachings, it's not all that, but it's with me. And this is something where I want to relay a story. And I know in my newsletter I talked about it, I want to talk about it now because it's really huge.

Recently I went to the Ninja Trader conference in Denver, Colorado, and it was a really wonderful conference. I really love those guys. They have a great product, yada, yada, yada. And there, there were a lot of programmers, as you might expect. There were a lot of indicator people, there were a lot of chart people, there were a lot of trader trainers, and they were having a very serious conversation. All these people they brought in about how to bring that system even to a higher level of, of competence. And everybody is really in there building and making the system even better for you, the consumer of these systems. Okay? And then, you know, I said, you know, this is really interesting. There's 300 different people here and all these other guys, and there's one trader psychologist, me.

What is weird? What's wrong with this picture? And after talking with a few programmers and indicator people and chart people, I realized that they just didn't, they and I didn't have very much in common at all. You know, they were just on a different area of trading. I started talking to the Trader Trainers act and I posed this question.

If you know that only 5% of people are actually making or less are making money trading, what does it say about your training programs? And they said, you know something? We teach people how to trade, they know how to trade. They just can't seem to apply that when they go trading. And I said, well, isn't that the point? You know, nobody, nobody wants to see that. And what I've discovered, it's not just.

The industry leading the traders on. The traders are in cahoots. The traders, the ones who want to become traders, don't want to really understand that, you know, they're part of this conveyor belt, that everybody's just putting people on that belt and then they fall off at some moment and they keep replenishing, keep replenishing and they never face the fact of the, of the giant elephant in the living room. Nobody's making money. Very few people are making money. Why is that? That's what we're going to be looking at. And here, here's, here's where it starts. Here's where the trouble really starts, friends, is that Kildegaard was really so dead on the money.

Truly, what you're seeing. How many times have you been to a traders expo? How many times you found yourself looking for the next big thing, the next indicator that's gonna make a difference, the next teacher that's going to make a difference, the next thing. And all of a sudden, you know, all I have to do is find the right thing, put it into my system, and voila, I'm going to be a successful trader. The difference is that's the deception. And I want you to hear this. There are two ways to be fooled. And what I'm hoping is experienced traders are beginning to wake up the fact they are both being fooled and they are fooling themselves. First, one is to believe what is not true. The other is to refuse to accept what is true. Okay, this is called cognitive dissonance. And it's really like holding on to belief even when you clearly see that it's not working.

Who in here.

Has discovered that their trading system, with them as part of that system, it's not working well, either the methodology, the platform, or the personal psychology. Translated, you look at your trading account and you find out.

Ultimately what happens in this industry is that people get sucked into a sales funnel that mesmerizes them into believing that knowledge and systems are the past. A victory, but.

It'S a big but.

Nobody's making money except for a few people who have figured out how to change the mindset they bring to trading. And that is what we're going to be talking about mostly today. But people flock to these promises of success. They do, you know.

And the real key is what actually happens when a trader gets it. They wake up and say, aha, I have seen the enemy and it's me. And that they realize that they're at the core of the problem and they know they need to change. And this is the thing that we want to do though, is we want to say how. How do you stop becoming part of the herd.

And recognize that, okay, if 95% of the people that are trading are not making money, obviously, the way they're thinking and the way they're. The mind they're bringing into trading is the problem. And I can't tell you how many trader trainers I've talked to. And I'm in. Good. You know, I have strong affiliations with that. Say, Randy, I can teach these people how to trade. But the thing is, is they gotta get their heads screwed on straight if they expect to be able to make money under pressure. So they're acknowledging it, but what do you do about it? How do you go about doing it. Well.

First, this search for the Holy grail, it consumes the focus of the trader. And they do not want to look at themselves. They really want to believe that hard work and knowing how to trade are going to save the day and it's going to make them money. That's exactly what 95% of the other traders are thinking. They're losing money.

So the thing is, they don't want to look at themselves as the source of the problem. And in doing so, by not looking at themselves, they're actually building the obstacle that keeps them from the very thing that they want most, okay? The very thing. Success. Independent living, independent time. And yet by not seeing what the problem is, clearly they're stopping themselves.

Humans, the animal that you are, has an enormous bias to be right and the conviction that outcome can be controlled. And this is what's blinding the trader. Understand that self preservation principle that all organic life is organized around is really strong, but it's only for the short term, survival. And it would rather believe a lie.

Okay, and go on doing things that are self limiting long term than to become a long term success. And my question is this, and I mean this sincerely. Instead of being a sheep and just falling off the side of the financial cliff.

What do you do? How much money does it need to cost you to maintain this mindset that success is out there? Usually that figure is anywhere between 50,000, 500,000, 5 million. It's a pretty big number depending on who you are. And they burn to that capital in the delusion, in the illusion that they're going to be able to learn how to trade and control things out there when they don't realize that in there, that's where the tickets at. And it all boils down to how do you see uncertainty?

So what happens for a period of years until they either run out of capital, run out of time, or learn from the school of hard knocks? They keep banging their head out, man, and they don't understand why they lose. They're doing everything right. They're getting the right tools, they're, they're going from shop to shop to shop to shop looking for the answer. Looking for the answer, not recognizing the answer is staring them in the face, in the mirror.

The truth is your trading account will tell you the truth if you're willing to listen. Okay? It will not cover up for the way you react to uncertainty. Yet at the same time is, are you willing to learn from your trading account? Are you willing to learn? Are you trying to deny it and find another way around it. Fortunately or unfortunately, I should say is all that knowledge, all that grit, all that more stuff, stuff will not produce the results you want. You stay in purgatory, you stay in mediocrity, you bleed slowly or you blow up accounts. Just pick, pick your lot, okay? If you can accept that the health of your trading account reflects the kind of thinking that you bring to the management. Uncertainty and risk and probability.

You are getting to see in such a way that allows you to create a door that takes you to a totally different way of interacting with uncertainty, with interacting with the unknown, with interacting with probability. And the key is, are you ready to learn? Are you ready to say something? You know something? I'm following the same darn path that 95% of people follow and fail. Doesn't this tell me that I really need to be looking elsewhere? You bet, you bet it does. You know that trading success is possible. You see it, you see various people being able to do it, but you keep staying on the same treadmill. It's so familiar, it's so comfortable. Okay, you keep chasing the dream and now.

Making money. Now I've got to make money now. That mentality blinds you to creating the mind that can in fact produce success in trading. It's interesting, a couple weeks ago I ran a webinar where I did a survey and one of the questions, what are you thinking while you're trading? And it literally, literally 66% of the people said I was thinking, gotta make money. Now do you realize, friends, that's a formula for losing money. You're setting an outcome goal up and saying, that's what I'm going to focus on. You're looking at your P and L statement drop up and down and up and down, up and down, up and down. Am I making money? Am I making money? And what you're doing is you're blowing out the mind, the probability based mind that could in fact manage the uncertainty. Well, you're aiding and abetting in your own defeat. So you're looking at it and going, how did I get off this treadmill, man? How do I get off this treadmill? The first thing is you have to get out of your comfort zone, discomfort zone of, oh, well, the answer's out there. I'm going to find some holy grail out there that I'm going to find. And once I find the specialized knowledge, that tool that nobody's telling about that secret and I'm going to find it, I'm going to be making money like the big Boys and boy, won't they, won't I look good then? No. You have to turn toward your fear. You have to step outside of the comfort zone. The that's where the magic is friends.

You have to step out of your fears that you react to as an animal. Your animal. The animal side is always going to be, is always going to be short term, self preservation focused. Whether or not it's revenge trading, whether or not it's hesitation, whether or not it's getting out of trades early to preserve capital, that's all. That's your animal, that's not your human being.

The thing is if you open up your human nature, you discover that you can master your fears in trading. Okay. And when you master that, you discover is there was really nothing to fear all along. So let's take a look at this magic. What do you really got to do? The truth is it comes down.

Having to retrain the brain mind to become probability oriented. The mind you come equipped with.

That you bring to trading almost certainly will have been outcome focused. You're going to want to control outcome by one of two ways. One is by making things happen by doing or by not being wrong. Perfectionism, those work well in corporate life and in business life and a lot in athletics. But when you bring that outcome focus, I've got to be successful. I'm going to be number one. I'm going to make it happen.

You discover that your mind, your brain is not wired in such a way. Thinking that way that would allow success trading. And it's not just saying a few words, it's literally. Literally what you have to do is you have to rewire the neuro circuits of your beliefs. Okay. Point is this.

There's not a quick fix solution to this. Okay. It takes time and effort to change patterns. The brain has already stabilized and habituated. It's going to take some time. You fall off the wagon and suddenly you start making the same mistakes again. That's what I see with a lot of my private clients is they get to the moment where they can make money, they start doing it right and then they get complacent or they start getting euphoric and they fall off the wagon. And then they learn oh my God, I can't afford to fall off the wagon. No, you have to keep a very rigorous mind if you're going to trade. So the real key is let's take a look at what's missing.

Ultimately, by not developing your emotions, you can't use them to create the kind of thinking needed for Success in trading, success in trading requires right brain, that's your emotional brain, and left brain, that's all that thinking and rationing stuff you do to integrate and to work together as a whole, okay? That's how you produce consistently profitable performances. Most people literally are attempting to trade with half a brain. They're left brain. They're trying to deny their emotions, they're trying to push their emotions away and they don't recognize something. They don't recognize that in fact you are not a rational being having an emotional moment.

You are in fact an emotional being having a couple of rational moments. And the ration is just simply serving the right brain's decisions. That's all the left brain is doing. Okay? So what do you do?

You are going to either develop the emotional intelligence to manage knowledge, okay? Because ultimately that's the missing link, or you're going to stay emotionally ignorant and you're going to get slammed over and over and over again and you're going to create a narrative, a myth about how you're searching for the holy grail. And as long as you're doing that, you stay in that treadmill, man. And my question to you is, are you happy there?

Pressure and stress are going to always trigger old reactive patterns, okay? Becoming more emotionally intelligent is the way you harness the forces in the mind. You harness emotions, okay? To bring forth the mind that can manage probability, risk and uncertainty. It's not the absence of emotions that you're looking for. You're looking for the intelligent use of emotions to create the mind that engages uncertainty. That is what hasn't been happening. So how do you go about reconstructing this mind?

Let's put it this way, I've already talked about it, but you know, controlling outcome by either trying, by doing, by taking action, by making things happen, or by perfectionism. This is not going to work. The probability based mind has to be built from scratch. It's not natural. It's not what we as a hominoid species started developing 6 to 7 million years ago on the African savannahs, okay? And whatever the emotional brain decides, the thinking brain is going to produce an explanation that supports that decision.

You are an emotional being that has bouts of rational thought. You are not a rational being that's having bouts of emotional thought. Another way of saying this is that all thinking is emotional state dependent. So what you're looking to do is to make intelligent use of emotions that you cannot deny.

And in making intelligent use of the emotions, you create the thinking that allows you to engage in probability based activities rather than uncertainty based fallacies. Okay, we're going to wake up and we're going to stop drinking the Kool aid and we're going to start coming to our senses again.

The other thing that you need to get is the emotional brain does not distinguish between uncertainty, ambiguity, confusion.

Fear. Okay? Now what does this mean for you? Okay?

By not knowing how to manage emotions, you're automatically defaulting everything, the setting to being a threat. Remember that emotional brain, when it's being, when it's sitting in the midst of uncertainty to it, it's being threatened biologically. It's not psychological discomfort to the emotional brain like it is to your psychological self. No, it's reacting from biological threat. That's what it knows. It's. How do you start separating fear from psychological discomfort? How do you separate fear from concern? You have to be concerned, you have to be alert, have to be ready. But you cannot be acting from any kind of fear or a need to prove yourself. Then what you realize is this.

What you're doing is you're projecting what you believe about your ability to manage uncertainty on the markets all the time. That's what you're doing. You're not looking at data.

You're projecting your beliefs upon the markets and you're interpreting data to support them. Or as Mark Twain once said, there's lies, damn lies and statistics. This is what you get, okay? And what I want you to understand from a neural standpoint, what the brain is doing, it creates a perceptual map that's kind of like a virtual representation of the world based on its five senses and on the belief structure about its ability to engage and be victorious with uncertainty. That's based on your beliefs. That's what you're projecting on the markets. You are also seeing your trading account telling you how good or how bad.

Your virtual representation is. Okay? That's what your trading account's doing. It's telling you point blank whether or not you can manage uncertainty or not. And I promise you, the mind you brought to trading is not going to be the mind that is going to produce the success in trading. The animal was not. The animal part of you was not designed for long term success. It was designed for short term survival. Okay? And hesitation is short term survival. Getting out of trades early is short term survival. Revenge, trading, attacking what's threatening you is short term survival. Okay?

Until you learn to master the emotions, you're going to be stuck in that cycle. And ultimately.

What it comes down to is this.

The brain's going to find a solution haphazardly, okay? It's not like it has a plan. It's engaging the environment and it's figuring out how to do things. And it wires, if it's successful, it wires it into circuitry and it pops up. This is called adaptation. And then habituation, it habituates it. It becomes so familiar that it is unconscious. Then guess what? Any perceived threat triggers that response that the brain has already figured out. It's an emotional pattern. It becomes a submerged belief. And you begin to see out of that belief system and like radar, it starts picking out similar threats to certainty and finds them in trading, like out of the yin yang.

This is the biological problem of trying to become a trader is you really do have to, you really do have to retrain the brain.

To being in a completely different world than it was designed for inside. And believe me, trading is an enormously difficult endeavor to be successful in because of that, you know, the same old stuff's not going to work. And then once you grasp this patterning business, in the heat of the moment, that submerged belief becomes your operational belief. Suddenly it blows up your trading. You know, I'm doing really good, Randy. And all of a sudden I just went crazy. I don't know what the heck. I don't know what I was thinking, Randy. I hear that all the time, folks.

That's when you have to turn toward the discomfort. This is the emotional response has to be untangled and recreated anew. Not denied. As long as you're in denial of those beliefs, those emotional beliefs, you don't have the ability of changing them. But when you turn toward them and all of a sudden you realize, oh my God, you know something?

I got to change my beliefs in order to be successful. I'm going to talk a little bit about my beliefs in just a moment, okay? But struggling traders almost always have a well developed left brain, okay? And they have all the indicators, all the charts, all the signal services, all the latest gizmos, all that stuff, all the fancy teachers, all this. And they, they've gone around like groupies going to all the different, different trader groups, learning how to trade, and they will have blown out. Oh gosh, it's easy to see people spending fifty hundred, one hundred, fifty thousand dollars just on education. And yet it's not applicable. It can't be applied while they're trading. So this is the thing is 95% never learn, okay.

How to become successful in trading.

They've experienced success in other endeavors in their life. And they're saying I'm just going to take those and apply them to trading and it's going to be successful. And I'm going to keep doing it. I'm going to keep doing it. I'm going to keep doing it until I'm successful. They're not listening to what the trading accounts telling them. Okay? And the question is, do you want to be part of that 95% or do you want to be part of that 5%.

Who steps back out of the illusion of control and says, I need to build instead of a certainty base mine, I need to build a probability basement. And the real key beneath that.

We actually have to figure out how to get inside the head and change the beliefs and the emotional responses to uncertainty. That's what we really have to do.

All that thinking is emotional state dependent, friends. The left brain is just literally creating an explanation for what the right brain has already decided. It's projecting that onto the markets and by the way, the rest of your life too. Most people who end up doing my work discover that my work is far more suited for life beyond trading. I mean, it solves the problem of trading. But they discover that they're much more powerful in other aspects of their life too. And the thing is, the main thing is recognizing that, man, I, you know, I've swallowed my own gullibleness, suckered me into this stuff. I have woken up and I need to accept my culpability in this and I need to set responsibility and I need to literally put my hands to the plow and I need to plow this fill. I need to change the mind that I am bringing to the management uncertainty. And the only person that's telling me the truth, it's not a person, it's your trading account. That's when you get it. And when you do that, friends.

When you do that, you discover emotional intelligence is the ticket.

Your emotions literally, it's like this iceberg. It's 90% of the show, 10%. It's a thinking brain who is just simply producing explanations to support what the unconscious is already thinking. So the path.

To destruction is incredibly wide. 95%. That's a big path, but the path to success is narrow. It's very narrow. And you're going to have to leave a lot of the glib thought, the pop psychology talk and the NLP stuff and the talking.

Basically talking the talk versus walking the walk, you're gonna have to let that go. And you have to recognize, oh my God, this is really about reorganizing the brain that produces A mind? Yep. Okay. Ultimately.

The left brain is just not actionable under stress unless. Unless the right brain is trained and worked with. You know, the thing is, is there is no freedom from emotion. You are the embodiment of emotion. However, there is freedom of emotion. That's the edge, friends. That's the holy grail.

It's just that it's not easy. It's not a magic bullet. But yet if you, if you plan to be successful in this, in this profession, that's what you're going to have to do. Don't, don't take my word for it. Talk to your trading account. So.

How do you build the skills of conversion, of converting this brain built for.

Outcome control into a brain built for probability management? How do you do it? The very first tip is emotional regulation. You're going to have to learn how to acknowledge your emotion. You're going to have to learn how to manage your emotions so they don't hijack you or torpedo you like that U boat did a few slides back. The next thing is you're going to have to learn is you're going to have to learn mindfulness. You're going to have to learn that you and your thoughts are not the same, that you can step back out of thought, you can observe the body, and you can observe emotion completely different than you're observing it right now. And you can learn to observe the thoughts of mind. And there is enormous freedom in recognizing that you and your thoughts are not the same. Then what you're going to have to do is you're going to take that new skill of mindfulness and you can start doing some digging. You're going to dig down to the basement of your mind and you're going to start discovering the submerged internal dialogue. Okay? This is where you face your demons. This is when you face. Face your fears, this childlike fears you have. And you also face this internal struggle where the suffering happens, where you keep blowing up, you keep doing that, and you hear this thing that's saying, you're not going to make it. You're not going to make it. Whoever thought you. Who said you could do it? Or you've got to prove yourself. You've got to do this.

You've got to recognize, oh, my God in mindfulness, I'm beginning to recognize something. Oh my God. That's not me.

Those are thoughts running through my mind that have not been examined and challenged and they're taking over the mind. Then you're going to have to find, you're going to have to free your own heroic nature from exile. I'm going to talk more about that. But that's really the core of the work that I do is I teach people how to take. You've got these cool programs and until you learn how to awaken them, charge them up, crank them up, and get them into the conscious aware of mine, the old habits are going to be the same. More about that later. Then what you're going to be doing. This is where it gets really fun. And trading is just the perfect laboratory for this is you're going to start embracing internal struggle heroically. There's always going to be challenges, there's always going to be unknown.

The deal is in the heat of the moment, who shows up for the fight?

Who shows up for the fight. Right now, if you're getting angry, if you're getting scared, the wrong organization itself is showing up. We need to work on that. Then what you're going to do is you're going to have to become both intentional and vigilant once you can do this. Mine was working with a guy today. He's really beginning to put days together. He's really got it where he knows how to build a mine. And what happened is that he got into a big, huge family feud. And he says, you know, Randy, I. I went through the motions. And what I discovered is that I should not have traded. Okay. And what I.

Know how to create the mind for trading. I knew that I wasn't in the mine, but I thought I needed to trade anyway. It cost him, it cost him 30 points, okay. To learn that lesson. And what he realized is, Randy, I get it now. You have once, once you can build an intentional mind.

You have to be vigilant in maintaining it. Yeah, a lot of that takes. That takes a lot of work. It's not something a part that you take off the shelf, screw in, turn it like data on, like the Star Trek character data. And ultimately what you discover is this.

Is that we've got it backwards. You know.

Like in this image, you know, the horse is sitting there and the humans are trying to pull a thing. Fundamentally, we believe that thinking and logic and reason why will solve this problem. No matter how much money it's cost you, you still want to believe that. Just pick the parts off the shelf and plug them in wrong. Basically, managing the mind begins with managing the biology of emotion. Emotions are biological. They take over thinking.

That's powerful. If you cannot observe the biology of the emotion, you're already cooked. Okay. It's interesting is when I First started examining, building a biometric device.

I was, I was told that you really need to go to the online gamblers.

Blogs. That's where probably the best science is being done. And the one thing is, I went to their blogs and these guys are wired up, they're watching their physiology. They've got their blood pressure, they're looking at their heart rates, they're looking at all sorts of vital signs for indications of whether or not emotions are escalating. And they're sitting there and they're calming themselves down and they're keeping them in a particular zone. I also teach traders that too. So you're doing that and you're recognizing, oh my God, I really need to manage the right brain. I need to manage the emotions.

That are in the right brain. There is no choice about this. It's kind of like in golf. In golf, there's a saying is you cannot make it happen. Same thing in trading. You can't make success happen. You can let it happen. In trading, we would say you let the trade come to you. And then the last part in golf that said is that, and then you discover there was never a choice.

Okay? Same thing in trading is that what you discover is all that control of outcome, all that perfectionism, there was never a choice, that was never going to produce success.

It really comes down the moment of freeing the emotional brain from fear.

And keeping it calm and cool so that you can think from this Homo sapiens mind. So, first skill, emotional regulation. How many people have looked, how many people have sounded themselves like this? A lot. How many people can produce that coolness? Fundamentally, what happens is the very first skill, and this is literally, I will spend two to three weeks on this when I first start working with a client, is they have to demonstrate to me that they can breathe and they can, they can relax tension in a way that controls the emotional intensity. Okay? The step to managing emotions starts with breath, okay? It just, it starts with breath and relaxation. And until you do that, you never get to the door of the mind, okay? You get hijacked, you get torpedoed long before. When you learn the emotional regulation skills and you can calm the intensity down, that's when you can learn mindfulness. This is when you discover that you can step back out of thought and you discover that you and your thoughts, you and your beliefs are not one in the same. And what you also discover that the brain is a community of rival programs and the mind is a committee where those programs have been given voice as your thoughts. There is no me in There, there is simply an organization of the self that has coalesced. Your job is to examine it and to be able to change it so that it's effective for probability based management, okay? That's the whole deal. That's what mindfulness is. And if you're not using it, you just simply don't have the design tool you need to build a mindful probability third skill. You have to discover the internal dialogue. You have to look inside the head. And this is where everything happened. This is when you actually.

Realize the mind is a committee and you have abdicated your rightful errorness to run this committee. Okay? You didn't know it. You fell into this soup. You got dissolved in the soup. And you didn't realize you could step out of the soup and observe. So this is when you also find the inner critic and the adapted voice. If you have ever hesitated, if you have ever jumped out of trades when you just have a little profit, if you've ever just. If you've ever just jumped into trades when the trade wasn't there and you said, what was I thinking? That's the adapted voice or what I call orphan.

You don't know how to manage it. You've pushed it away. You don't. It's the yuckiest feeling. So I'm just going to push that away and pretend it isn't there. It's going to continue showing there until you wake up. The other part that you have to really observe is the inner critic nature of your life. In your mind, there will be an inner critic. That's the one that judges you, that's the one that criticizes you. That's the one that tempts you. That's the one that just absolutely gets you cranked up. That's the one that beats you up. You fuse to it and you don't see that you're not that. And until you do that, you're stuck. You have to learn. This is a skill that has to be learned.

The fourth skill is you start developing your own internal resources. And what you discover is this, is that we all are wired with emotional programs, okay? And the key is you didn't have much choice about the way they got organized. Originally you got delta hand and your brain organized you into a current self. But in the same way that judgment and fear just simply are natural to you, so are courage, so is discipline, so is self compassion, so is impartiality the real key. These are the four qualities, traits that have to be developed to be able to manage probability.

Until you can do that. When you hit uncertainty, you have an automatic trigger that takes you all the way over. Do not pass go or collect $200. And you land up in fear.

Okay, Confusion leads to fear. So you've gotten that, it's there. Your job is learn how to awaken it. And suddenly you discover that yes, you do have these emotional programs as part of your human genetic makeup. And ultimately your job is to learn how to get access to those. And I use a process of memory enrichment. You know, I'm looking at real, honest to God memory. And I'm, I'm getting you to reorganize the way the brain originally encoded that experience in the memory so that you have access to these emotional programs. And you will say, oh my God, I see how it feels. Okay, I'm there. This really happened. That program is really there. And you can learn definitely beyond any shadow of a doubt, you can learn to bring a very different mind based on these emotional programs to manage uncertainty rather than the one you're currently doing.

And this is when you discover, oh my God. Okay, I get the brain is a community, rival programs. And, and I see that it's organized me into the particular way. I see that the mind actually.

Is where that brain, all that electrical activity has produced symbolic value. And suddenly I have a committee member and thoughts are running through my head. Oh my God, that is so exciting, friends. Because what happens is those thoughts and you are not the same. You can manage the source, the program from where they came from. This is what you do and this is how you can teach that. The key is you're ultimately going to have to let go of the need to control outcome.

You have so focused on one particular possibility of success that you are blinded to see what's right in front of you. And my question, are you ready to relook.

And let go of this illusion of control and that there's some magic bullet, there is some holy grail out there and recognize, oh my God, I am the holy grail. But it's in the rough. I have to develop it. And ultimately you learn to refocus the mind, reorganize the mind so that it becomes very different.

Suddenly a new committee of the mind, the new pro emotional, new different emotional programs are organized to create a new mind.

When you take a look at this photograph, you're looking at a bunch of guys working as a team. There's a ruler that provides discipline. There's warriors there that provide the courage. Everybody's got a role. There are self soothing parts that Keep fear at bay and calm down. There is also very clear thinking going on under stress. Suddenly you realize that's how they manage the uncertainty of this moment. You put me in a boat like that at my skill level and I'm gonna, I'm gonna tank that boat.

Highly skilled, it would be easy for each of these men on this boat to lose their stuff, lose their, lose and just blow their blood in the clutch. But no, they have a trained mind. It's a different mind than they had started out with. They've trained it to manage uncertainty. They're not trying to control the ocean.

Okay? That is the challenge. You know, the challenges of uncertainty and risk don't change. But the mind that you bring to manage the situation makes all the difference in the world. That's the holy grail, friends. Now you're still going to have to master your dragons.

You're going to have to learn to turn toward that dragon because that is your internal struggle. It happens in trading, it happens in the rest of your life. The difference is in trading.

The action and reaction, the action and the result is so close, it's so fast that is unavoidable in real life. You can smoke cigarettes for years and not have to pay the piper. It catches up with you. But life is so slow that you can delude yourself.

Trading. You can't.

Ultimately, you've got to face your fears, okay, that you have in your trading, your trading accounts telling you that the difference is that you are equipped now to do that, isn't that powerful? And ultimately you become like a surfer. This surfer does not pretend to control the wave or the ocean. What he does is he controls himself. You've got left brain knowledge, he's learned the skill and right brain emotional nature that has been organized to be able to maintain a patient, steady mind that can attune itself to the wave and take what the wave is willing to give it. Just like in trading. Ultimately what happens in trading is you learn to attune yourself to the markets and you begin to be wise enough to see what it's willing to give you. And that's what you take. You don't try to control it. This is how you do it, friends. And the real question is this, is that this is the probability based mind. You know, when this golfer lets go of this putt, so he really doesn't know whether or not it's going to go in or not. He's not even thinking about that. What he's thinking about is the process, the mind that he's Bringing into that moment. He's letting his subconscious do the work. He's not thinking, oh, my God, what if I miss this putt? No, what happens is he is focused. He has seen the target. He is focused on the target. He is focused on the ball.

He believes and he lets go. That's how it works, friend. This is right brain, left brain integration. So what have we done here? It's a process, friends. There's no magic, but there is hard work. There is no magic bullet. I don't promise you that. It starts with emotion regulation. It goes to mindfulness. Those are the two tools you're going to do. You're going to get that. Are you going to use to get awareness, the internal dialogue. You're going to awaken these heroic traits that are lying dormant in you, ready, waiting for you to wake up to claim them. And you're going to develop the committee of the mind and then you're going to engage.

The uncertainty of the markets with intentionality. You know that you can't control outcome. What you control.

Is this moment of performance.

And friends, if you do that and not focused on winning, focused on performing.

You'Re going to get your share of wins. And that's how all the guys pull money out of it. That's how it works. So how do you become the change? How does this happen? And it may be that.

You have not become experienced enough. You have not proven, you have not proven that this is not going to happen without you changing. There's a couple things. First, if you're just going, well, this is really interesting. Let's see what this guy's up to. What you do is you go to our website and on our website, we've changed our website name. It is now my trader state of mind. That same word you see there, but the word my in front of the traders. You go there and get my free book. I have a free ebook there that's a compilation of three, three or four years of articles that a lot of people simply go, you know something? This is the best thing. This has helped me more than anything else. Then if you're really adventurous, start looking at the videos. I have over 50 posted on YouTube. I have at least 10 listed on my website. Read the articles, start really getting an idea of what the heck all this emotional intelligence stuff is and all this mindfulness stuff is and how it applies to you and your performance in trading. But if you're experienced and you recognize, you know something, I need to do something, first of all, get my book. But second, of all, there are two opportunities, big ones. Okay. And the first one is our individual course. It's built for a serious trader. It's built for a guy or a woman who says, you know something, I know I need to, I need to get this together. And the truth is I want someone to help me who's been this way, who knows how to do this and can teach. The main thing about the individual course is it comes with 10 consults with me over a three to four month period which are 60, 75 minutes long and they're by Skype. You and I are looking at each other. Powerful stuff. And it goes over what you've learned here, what you've been exposed to here, but it teaches them as skills.

Literally. It is very, very personal, is highly comprehensive.

And it's what the professional traders do when they realize there's a hole in their performances and they need to, they need to get it done. It's cheap. Okay. The second thing you may want to do is register for our next group course. That's gonna be in January. But a lot of people want head starts. They'll, they'll pay the cost and they'll start doing that program so that when January comes, man, they are ready and they are fired up and they have done the homework long before I start piling it on.

It's more affordable. It comes with. You go to virtual classrooms where all this materials there, from reading materials to lectures to guided meditations, and there are five group sessions over 10 weeks that we go over process this stuff. Very powerful course. And when you come down to it, you know, if you're sitting there and you're going, you know something, this is really interesting. And I realize that, you know something, this is really speaking to me. He's really called me out. I hear that a lot, by the way. And if you're sitting there and you're going, you know something, I need to get off, I need to get up and I need to actually do something significant. Rather than talking and talking and playing games, I actually need to learn how to trade. I've got the other parts of trading down. But what I realize is I have neglected trader psychology. I have neglected performance psychology. And I know that that's what's holding me back. If you're there, ask for a free consult. You just go to contact us on the website and you ask and you fill out the form and you ask for a free consult with me. But you need to be serious trader. You need to be a person who's really looking for Answers and has had enough, has had enough experience to realize that it's just not going to fall down from the sky. You're going to have to climb the mountain and change. Okay, friends.

If you have questions, we've got a little over 5 minutes. Type them in and I'll start answering them as we go along. And here's one already. Hi, Randy. This is from Robert. I think that wide problem is that traders looking for Holy Grail at wrong direction, they don't accept that could be found within themselves. Absolutely. You know, I'm gonna tell you, that's the whole main. That's the main thing. What you basically see in your trading account, what you are seeing is the beliefs that you are projecting upon uncertainty and everything is uncertain. Okay? It's kind of like Schrodinger said, you know, even. Even the act of observing an experiment changes the course of the experiment. And that what you discover is the whole. If you started the world over again, it would look very different. It just organizes. Everything's uncertain. What is different is the mind that you bring into the moment. That's the power it is. This is from Joseph. Explain. From the standpoint of the right brain, what does holistic and synthesizing mean?

What does the right brain have to do with the holistic and to the synthesizing. I'm not going to address the synthesizing. I'm not going to talk like this tonality business that's supposed to align the brains. I think that does work on a temporary basis. But what you're doing on a scientific level, Jotha, is that there is this thing called the corpus callosum that interconnects the right brain and the left brain. And it is a hotbed. It is like all this enormous connectivity between these two spheres of the brain. And ultimately what happens is that the left brain is going to provide all that logic, all that reason, all that stuff, you know, that analytical ability that is so important in trading. The right brain brings intuition, but also our emotions into play.

Ultimately, when you see a synthesized one, when I say when you have a highly functioning brain, when you're trading with both, trading with both, operating from both spheres of your brain, you are learning to manage the emotions that give rise to how you're going to interpret information.

Okay, I've had two traders in a hedge fund sitting side by side trading everything the same except the results.

The difference was the mind, the beliefs that each of the traders was projecting onto the markets. One was seeing through fear, seeing the same information using the same analytical judgments. And the other was seeing through opportunity. Okay. Ultimately all that fact finding, all that logic, all that abstraction.

Is being massaged by the emotional nature that you're bringing into that moment.

That's when they're working together.

And Joseph, I hope that answers it. But I'm not going to go off on all the tonality stuff and stuff like that. But what you're looking at is a balance of where you're allowing the emotions to show up, you're learning how to manage them and you're recognizing that what we in the language you would know at the sage, that's your left brain and all the other critters running around in the right brain of discipline, of courage, self soothing are operating and the sage is giving really good advice and it's being interpreted very, very effectively because the person has learned how to bring forward a disciplined mind. But discipline is an emotional state. It's not a state of mind. It's an emotional state that gives rise to a mind. So I hope that helps you. Okay, we have time for one more question as there's not. Because we're right at needing to let go. Okay. And definitely Dolores is telling me it's time to go. Thank you. You are so welcome. Friends, I encourage you to go to the website. I encourage you to really explore it. I encourage you to really think, do I really want to be a trader? Am I tired of being the same old, same old, being on the same old conveyor belt, doing the same old things, expecting different results?

This is a very powerful program, folks. I'm asking you to explore it. And if you're really there, if you're really willing to get out of your comfort zone, let's go find some magic. Fair enough. Friends, it's been, it's been wonderful. Thank you very much for your time and.

Have a great rest of the day. Take care. Bye bye.