2015 11 19 16 31 Mastering Your Emotions for Highly Effective Trading Sponsored by Chaikin Analyti

Welcome everyone. My name is Randy Howell with Traders State of Mind and we're here to look at how in the world you go about learning to master your emotions to become a more highly effective trader. Before we start that though, I want to thank Mark and Sandy and just the whole, the whole thing that and Brian for basically inviting us on to speak with you and we just give thanks. Okay. And the other thing that we going to talk before we get on into this is this, is that I generally hold questions to the end of the program. Often the stuff that the questions you have get answered but if you have questions, just go ahead and type it in. Dolores, my producer is right here. She will answer any operational type questions and she will keep the questions around for afterwards. You got it? Okay, so let's look, let's look at this, okay? And let's say how you can use this and take your shape and analytics and put it together and make a better, make a better team. Let's start from there first.

Have you ever noticed, okay.

Most traders report that they're prepared, okay. And then they get in and they get, they're all ready. They're, they're, you know, they, they literally have figured out this is the knowledge I need to have. They're prepared. Then they get in and they get crushed. Hmm.

The emotions are almost always out of control. Discipline collapses. It's just not one person, it's almost everybody. How many traders have a problem pulling triggers? How many traders have a difficult time staying in trades when they've got a little bit of profit after a ride in the red? Lots and lots and lots, suddenly all that discipline plan just flies out the window. How does that happen? It looks so logical, so doable until you come face to face with uncertainty and real capital at risk. Not some talk about talk talk, but real honest to God personal capital that can vanish. What gives? And you know, that's exactly what we need to look for. That's exactly what we need to do. Let's take a look at this. In that moment of getting crushed, in that moment of taking that knowledge and applying it in an environment that you've never worked in, where there is real risk, where there is real, oh my God, there is uncertainty. There is no control over outcome. There is no being right enough in that moment. Okay. All the hype about trading success that you bought get you busted by the reality of live trading. Traders get so focused on their dreams of trading that they overlook this fatal flaw. You know, what did you learn about trading that when pushed, you know, that really, when pushed that you could not deliver in the thick, in the place where you had to perform.

A lot. Really, okay, this is the place that we need to look. All the hype, all that belief that said, you know something, just come start trading, man. You know something you can, hey, you're gonna make a lot of money. And people fall into the dream. They start drinking the Kool Aid and saying, wow, a lot of money can be made in this. Yes, they can. But at the same time, there's a lot of people losing money. There are far more people losing money than making money. And the estimate seems to be around 5% are actually making money, 95% aren't. If this is such an easy game, if this is such an easy thing to learn, why is it so few people actually make money? Despite all this, despite all the hoopla we need to look at that we go from the reality.

And this is the inconvenient truth.

Okay? In trader training, trader training minimizes.

That they don't really teach emotion, emotional management and also even something bigger, the understanding that there is a tragic flaw in the way that they think a brain, a human brain is going to perform.

That human brain of yours was engineered for self preservation in the short term six or seven million years ago.

If you want to see the exact perfect storm of what a, what a human brain was not trained for, think of trading, okay?

This is the deal is, it's all about probability. No one seems to stop and listen deeply to the stark reality of the lack of success. It's like a trader starts getting mesmerized and they don't make common sense anymore, they can't be logical anymore. And yet everybody's doing it. Everybody talks about, hey, this is really great stuff. I mean, you know the analytics that you guys use from these folks, great stuff they'll talk about, it's great stuff. Great trainers you have great, there's, there's people you go to and go, these are the greatest indicators. These are the great signals, man. These, there's all sorts of things that are really great. Yet when you look at it, are people able to use these skills to be able to extract capital regularly and successfully out of the markets? That's the real question. And ultimately you struggle. Everybody's got, has got blinders on. And unfortunately, and this is, this is really seen from the traders perspective, okay?

The industry that you're in, that you're part of, simply is not motivated to change.

And address the deeper issues of trading. They're really not. As long as there is an expanding marketplace. As long as the conveyor belt is bringing more people, there will always be people to take the seats of the ones who, who blew up their capital. This is the model that this industry works on. This is the model of the 5% winning. We're just not going to talk about that Inconvenient truth yet.

Once you realize that there is this very serious problem, what are you going to do? Because ultimately what you discover, this is really becomes more like the blind leading the blind. It's kind of like, you know, these disclaimer notices, like with a broker or with trainers. Have you ever noticed that they're pretty serious, then they just flash by? And yet those are there for a very good reason. Most people will never be successful in trading.

After two to five years of bouncing around looking for the holy Grail, some start to really wise up. Okay, because despite all the hype.

Ultimately traders begin to wake up and they begin to recognize that they can't go on living like this. They can't go on accepting that this is the way to learn to trade.

A lot of people begin to recognize, you know, it's my emotions, it's, it's the way. And it's not like I can control them, is I don't. I need to learn how to work with them. I need to learn how to manage them. And I need to change the way that I engage uncertainty, particularly when risk is there. How do I do that? That's a more powerful question.

So before we go there, though.

How is it that you are so unprepared when you have been so well taught, when you have some of the greatest materials around you, the analytics that Jenkin gives you, great trader methodology, how can you be so well trained and still.

Just get led astray when you start risking capital in your trades?

Well, the truth is this. We get deceived by ourselves. And without emotional training, the aspiring trader is not equipped to trade. The left brain. Knowledge is simply not available.

When the emotional brain is being stoked by pressure. It's not.

That rational thinking tends to trap the trader in rationalization while the performance still falters. And you're going, well, golly, this is almost like an endless loop. Yes, it is. And you're going, how do I get out of this? How do I start talking in a language in a way that just absolutely allows me to start working with this? And my question to you is this, is that how long do you want to really blindly run off the side of a cliff? Okay, how long have you been trading? Most People start waking up about two to five years when they realize I need to stop believing.

What I'm hearing people say. The truth is, is that no matter how you cut the deal, emotions are enormously important. And there may be something about the way my brain's organized. It just isn't working here.

And remember, for as long as the supply side holds, change is not going to come from trader training. They're going to teach you how to trade well, but they're not going to teach you the skills needed to trade well under pressure. They don't know how. And you go, well, tell me something.

What is the problem here? The problem is the mind that you brought to trading. Something going to be the mind that creates success in trading, no matter how much you know about trading.

The real key.

Is how well do you perform under pressure? That's the real question. How well do you perform in the face of uncertainty? Because that's what you play with here. And you have to let go of this illusion of control that we've always had. Whether or not you were a control freak before you got into trading in alpha or perfectionist where you just didn't make mistakes, you get into trading and you discover you have no control in the first place. And then you go, well, okay, if this is it, how is it things are so messed up? I'm going to show you something and I hope you really take a look at this thing because this is what needs to be taught 101.

The brain is part of your trading system. Okay, there is that really beautiful trading system that you have. It's the one that platform have that methodology that you've worked with and you've finally proven you've gotten the information, you've gotten the right choices, you've got everything lined up and everything still can fall apart. Because ultimately what you discover is the trading mind. Trading is really a three legged stool. And almost everyone has the trading system, the platform and the methodology down. The problem is they have a two legged stool that is not balanced and will not stand under pressure. What they're missing is this inconvenient truth, that the brain is involved in your trading on a very primitive level. And until you get with that and begin to recognize, well, what's happening in my brain.

That'S being triggered by uncertainty and why isn't that I can just snap my fingers, say a few words and get past this and find a magic piece, magic knowledge that gets me there and gets past these stupid emotions. Truth is.

If you were to look at trading like a Racing car. What you discover is there's actually a racing team. You have a platform, you have bunches of people managing risk, you've got engineers and you also have the driver of that car. And that's probably going to be the most important component.

To drive performance.

Without the right driver who's ready to perform at high rates of speed and great knowledge of uncertainty, you're not going to be able to drive the trading machine. This is what the problem is.

So now we're going, hmm, what is it that I'm missing that keeps me from the next level? Well, it's pesky fears, you know, just get rid of them. You can't. No one talks about this, okay?

But the truth is, is that this is the problem that has to be solved. We have to go, well, okay, if the mind that I brought to trading is not going to get me there, what's the problem? What is that problem? And this is the whole thing is that what you're going to discover, what you're going to discover is this.

Is that the brain and mind that you brought to trading is wired for self preservation in the short term, it wants to live in that moment. Okay? The mind that is needed in trading to be successful is one based on probability, not certainty. Most of what's taught is this is they're taught, well, I'm going to learn how to be certain about things and then I'll be fine. No, that doesn't work. In trading, control is an illusion. You have no idea what's going to happen. You need to manage your losses though. Ultimately when you look at this over here on the left hand side, what you see is you see the right brain and untrained right brain on survival mode taking a loss. Okay? It wants to control that outcome. Survival is at stake. On the right. What you're looking at is a probability based thing where, you know, they say, well, one in three chance, that's about it, you know, I need to work on that so that I can handle the two losses that come so invariably with in a system like this. So you get that you're going, okay, now the difference is between a probability based mind and a certainty based mind. Yep. The truth is this very ancient mind has to be re engineered for managing uncertainty. Controlling outcome for short term preservation has been an illusion all the time. You may have bought that, you may have drank the Kool aid, but the truth is it's never been there, it's never been sustainable yet. What we can do is we can retrain that brain that we Inherited from the African savannah could be as much as. Well, you know, the migration started 35,000 years ago, so that was already set then. So now we're going, wow.

We need to be able to understand that the reactive emotional patterns built into our neural circuitry does not work for managing uncertainty. It worked for surviving on the African savannah, okay? It worked for surviving corporate America and athletics. But it doesn't work when you can't control outcome. That's trading, okay? Now.

Ultimately, it's letting go.

Of react. Reactivity and needing to control outcome for survival. That's what we have to let go of. We have to move from the left where we're going to fight to the last inch to where we're going to be at peace with whatever happens. We're going to make decisions based on.

A focused, concerned mind that's calm and patient rather than an agitated mind. So how do you approach conflict that you cannot control? Tells you the story of your brain. Tells you the story of your beliefs. This is where the first thing that has to be taught shows up emotional regulation.

Because ultimately, at the level of emotional regulation, you discover this.

Is that you discover that emotional mammalian brain that we've been talking about that we carried from Africa has to be retrained, okay? The primitive brain is not designed for trading at all.

So now a new partnership has to be built. And you can't ignore it. You can't say, well, I'm just going to ignore my emotions. Well, those emotions have been there for a long time. And I am sure that you have experienced this. You have experience where you think you're this really smart modern man driving. Driving the machine, okay? Yet what you're doing is you ignore hunter gatherer in the back seat. What you don't recognize is that at any moment, that hunter gatherer, that caveman, can take over mind. All it needs to do is to perceive threat. And in your trading, you tell me where you experience threat. It's pretty simple. Most people experience threat anytime they risk capital.

There are various times I know people who dread actually going to their trading room. They look at it, it's going, oh, my God, I'm going to be under attack all day. Why they trade? I don't know. Then you have people who have a hard time pulling the trigger. They. They have a fear of loss at that moment that they don't know how to manage, but they know how to trade, and they know how to be right, but they don't know how to trade in the environment, uncertainty. So therefore, they don't Know how to trade. So it's this self preservation for survival motivation that's activated in live trading that we have to learn to deal with. Okay, and so why can't you just leave out emotions of trading performance, huh? It's all logic, right? Well, even logic. You know, it's interesting. Logic shoots itself in the foot by not recognizing that it is only one emotion with a purpose, with a motivation within a community of emotional programs, okay? It thinks it's top dog when it actually it's just making up explanations for whatever the emotional brain is thinking. That's what you're really beginning to recognize.

So here we go.

What we're really getting is this is the mind that you brought to trading rooted in rationalism and blind to the impact of motion is not the mind that will bring success in trading. Ah, you know, Descartes was wrong. I think therefore I am. I can find the causal agents behind something and I can predict what's going to happen. The whole scientific revolution, it doesn't work. You end up in probability where you could be right, could be wrong. You need to arm yourself obviously so that you have the best chance of probability landing on your side. That's for sure. And you have to learn to be comfortable with that. That's the big key. This is really about self preservation in the short term versus probability in the long run. Okay? Mine was not built for that. This is where the paradigm shift has to occur, okay? Is as soon as you can get that there is control over outcome. No matter how logically right you are, you can easily still be wrong. Okay? Everything's based on probability, okay? Not on control. No matter what you've done, no matter how much you were able to control, no matter how right you were, doesn't make it so. How does this work? I'm going to give you a quick primer on the brain, okay? The truth is in neurobiology what we would say that there is not a world out there. You know, like right now I'm at a window looking out at late fall. I'm seeing leaves on the trees and all these beautiful trees and leaves on the floor. And ultimately what happens, what I'm saying is that world that I'm looking at out there doesn't exist. The world that I'm creating is built inside my brain. Okay? This is the key.

In neurobiology we say you have never experienced reality in trading. I would say that you have never experienced the markets. What you have experienced is your brain based on the beliefs you have about managing, about managing uncertainty you are organizing the sensorial information of the brain into a virtual simulation, a perceptual map. And you're projecting that onto the markets in the same way that I'm projecting that perceptual map from my window into the trees outside. That's what's creating the world out there. Okay, now when you go, wow, Randy, are you telling me. I'm telling you that the world you thought you were in is not the world that you're in. And then you go, well, tell me something. Well, what is the mind? Let's start with the brain. The brain is a community of rival emotional programs that has organized you competitively into the self that you are right now. You I are not one entity. What we are is, we are simply one organization among many that we could have been that circumstance, family of origin, all that stuff. The brain had some emotional programs that had greater, that had more oomph at the time in one. And if you want to see this, there's a movie inside out by Disney of an 8 year old girl and her mother and dad and it shows you exactly how this happens. I encourage you to look at that movie. Dolores and I saw it on DVD a couple weeks ago and it is powerful and it's totally, it's very accurate from a neuro standpoint. Well, the way emotional programs take on voice as thoughts in your mind, powerful stuff. So then.

We get the, that the brain is a community of rival programs. Where it gets interesting.

Is the mind is where those emotional programs come to play. Your mind is the place where the emotional programs show up as thoughts in your mind. Okay? And they have agendas. Remember these are rivalry, they are competitive in nature and they, you are looking at them try to organize you or maintain and order your comfort zone. Okay? They keeps you stuck in a particular area, one that allows you to survive. That's the mind.

And the self is the one that you could think, is the one doing your thinking is all the programs produce thought. Okay? So that's not you thinking, that's the emotional programs showing up in your mind as thoughts. And you think it's you. The truth is, is you don't have thoughts, they're having you. So we begin to go, whoa, this is pretty interesting. So when you're looking at your, your charts and stuff like that, you're not seeing that world out there, you're seeing a world in there that you're projecting onto the markets and you're finding out how, how effective it is. All those beliefs that you're projecting through that Virtual simulation. You're seeing how effective it is looking at your trading account, okay? That's the only piece that will not deceive you in here. Our brain is so easily deceived. It wants to be deceived. And there's plenty of people here and there's markets to deceive you with. The key, though, is this. You're seeing a world created by your beliefs. And in particular, read this very carefully, the beliefs you hold about your capacity to manage uncertainty. Because at the bottom of it, when nobody's listening, there's a lot of you having a conversation inside your head that's something like that. You're so stupid. How could you have possibly thought you could have learned how to do this? Look how much money you've blown.

Everybody's having those thoughts, not just you.

So now we're going, okay, now we're assuming that we're actually creating our own world. And by not understanding our belief structure and emotions, we're basically just jumping off the side of the cliff with all the other sheep.

That's what's happening, friends. How do you go about changing all that? Okay, how do you go about first observing your beliefs and then changing the beliefs to observe an act that allows you higher levels of effective performance? Okay, you've heard a lot of theory. What does this look like in practice? Okay, what does it look like? The very first thing in my programs, the very first thing where we start, we start with biology, okay? We start with a raw understanding.

Of our brain. And then the first thing we teach is how to manage emotional reactivity. And understand, from my standpoint, emotions are. They're just not what you think they are. They're not touchy feely, they're not psychological. Emotions are biological. They take over mind, they take over psychology. Okay? And for me, an emotion is any disruption to a standard sensorial pattern that the brain's already established, okay? And it's all about controlling loss of certainty. You, you, do you see this pattern here that I'm talking about? All your venge trading, all your avoidance trading all that distraction, getting up and doing a thousand things instead of being at your. At your screen trading. This is all evidence that emotions are managing the mind and they're not the emotions that you want managing the mind.

In truth, all thinking is emotional state dependent.

You know, for those of you who freeze when you're trying to pull the trigger, it makes a lot of sense at the moment of not being able to pull the trigger. Okay, More confirmation, more confirmation, blah, blah, blah. I'll Sit on the sidelines and watch this one. In the scarcity thinking of fear of missing out of profits is that it makes a lot of sense. Getting out that moment to secure that little bit of profit, even though the likelihood was that it was going to ride all the way to target, makes a lot of sense. That's what I mean is that the thinking brain is making an explanation for whatever the emotional brain has already declared. So we get that, we know we're going to have to do that, we're going to have to regulate that. How do you do that? Well, fortunately is that emotional regulation work. Breathing and tension reduction are used because they are a part of an emotion. Remember, emotions are biological. They have a breathing.

Style, they will have a tension style that if you interrupt, you cannot maintain the emotion anymore.

Okay, this is the, this is the thesis of the emotional response relaxation response of Herbert Benson in the 1980s. You have to do that, okay? You have to learn that. Because the truth is, is that emotional intensity, I mean just getting absolutely hijacked can be controlled volitionally by your breath. Moving from that no breathing to that high panting with only using the top third of your lungs to diaphragmatic breathing, that it's associated with calm states of mind rather than anger or fear. Then the tension can be released because the tension is also revving up, getting ready for fight, flying. Letting go of tension allows you to go back into a more receptive state of mind where you can ride the storm easier. That's the emotional regulation. And so all of a sudden you can see that breathing.

Intention reduction become an enormously important part.

Of the new way that a trader trades. Most traders I know absolutely have no sense at all about when they're hijacked. Most people get hijacked 10, 15, 20 minutes earlier than they thought. They don't. They're just simply not aware of their thinking.

Yeah, and by the way, that's just step one in our process. Okay. The truth is, is that when you learn how to regulate an emotion, it doesn't change anything.

What it does change is access to the mind. Okay? Up until that time, traders have just simply been hijacked. They've never been able to get to the mine. But with emotion as calm, the door of the mind can be approached. Okay? And this is why it's known as mindfulness. And suddenly you start looking inside the mind for your self owning beliefs that hold your trading potential prisoner. This is when it starts getting interesting. And then as you do this, you start recognizing that there is an awareness that Lives outside of thought. And you begin to recognize that you and your thinking, you and your beliefs are not the same. And a lot of people just go, what?

Of course these are my thoughts. Of course I am thinking these. No, you're not. This is the historical self. You were born into a soup and you adapted to it long before you could think. And you started mouthing them, okay, we're looking for the original thinker. But the observe the self. This is the piece where you learning how to step back out, intentionally step back out a thought and recognize, oh my God, these are just thoughts. They're not me. These are emotional programs in my brain that have been given a life in my mind. But these are emotional programs that if I don't learn how to control and manage, they're going to continue this bump a car ride that I've been on in my trading, okay? And mindfulness is simply a faculty of your humanness. It's a talent that can be developed, and it's not like I'm developing it. Mindfulness. The original inventor would be the Buddha, okay? Or even before that. But he was the one who was really big on mindfulness, okay? And in Zen, that's what the whole major piece is. So you can see that it's this tool, the ability to look inside the mind and recognize that we've been self deceiving ourselves into believing these are our thoughts. Now these are emotional programs that were programmed by history and circumstance and they're running our machine and it's time for us to wake up. The very first thing that you wake up to.

The very first thing that you wake up to is being able to observe the internal dialogue.

I was talking to a guy today, and so this guy, this guy blew up half a million dollars and it put him into not a near panic situation. But, you know, he's got a. It's a tough road to hoe. And you know, basically what happens is when he, when he gets past all the smiles and stuff like that, he is deeply ashamed of his worthlessness and of his inadequacy. And.

What was I possibly thinking when I was doing this? You know.

You can hear this, you can hear this internal dialogue. You can hear this internal critic judging, criticizing. In mindfulness, you begin to realize, well, what is that? Wait, that's an emotional program. That's not me. Do you see the distinction? Yeah, they're showing up as my thoughts. But the truth is, is I know that's an emotional program and that's the inner critic. And I know that it's a highly destructive part of the cell.

At the same time, you will also experience fear. Okay? That fear is what is known as orphan.

You will see that every time you freeze by not being able to do something. You will see that every time you revenge trade. Oh, my God, it's been taken away from me. I have to take it back. And all of a sudden you realize, oh, my God, this is historical. This just isn't in trading that I'm doing this. I'm doing this in other areas of my life too. Yeah, you need to observe that because it's creating your life, particularly when you have it on autopilot and you're not aware of it. And what we have to do is we have to start waking up the observer and begin to really start going, I need to free this mind from its history. Yeah, now you're talking. Now you're talking. Ultimately, it's through the observing self that you learn how to reconstruct the beliefs. And this is when you really start realizing that you can reorganize the self. You can reorganize the emotional programs that have organized you into a self, into higher functioning, okay? And it just so happens that that's what I teach people how to do. Now.

The main thing, though, is in mindfulness, you begin to realize and you start taking this thing seriously about, okay, if the brain is a community of rival programs that has organized me into particular construction, the mind really becomes a committee where these programs are duking it out for control. Remember, they're in rivalry. They're duking out for control. And the mind is where all the action is. And what you discover very clearly is that the observer in you has been fast asleep. And as long as that observer is asleep and not waking up to the reality of what's going on right under his face, the struggle continues in the same way, okay? You remain mindless. Your trading remains mindless. Why should it change? Yet when you decide, okay, now I get it, is there are a lot of emotional programs, okay, that could be brought into working awareness rather than the ones who are controlling your trading. Now, if you want to know about them, and I hope you do, is that this is where you recognize in the same way that there is criticism living within the cell, destructiveness, living within cell, fear, living within the cell. There is also discipline, the discipline of a ruler like a George Washington. There is a painting of George Washington, quite, crossing the Delaware for a sneak attack against England. And it's showing you Washington there. And he has all these people, and they really believe in him. And he's got this look of, we're going to do this. My guess is he was pretty scared at the same time. He had those people. Basically, he had the discipline of a ruler. He was able to maintain order under pressure. Friends, that's a program. That's a program that you can learn to turn on.

Under pressure Rather than the fear program or the historical program that you're operating from now.

There's also the courage of a warrior. The truth is we have to turn toward our fears. We have to turn toward our demons. We don't conquer. We don't master the self by going around things and pretending things aren't there. We have to. Just like this guy that I was talking about earlier that lost $500,000. The truth is, what he recognizes is that he has a fear of loss, But a lot of it is also about his shame. He lost this much money. I don't want to acknowledge that. It's easier to distract and not deal with this stuff. And now I'm working with Randy and he's telling me I need to turn toward it. Yeah, that's what happens. You cannot master it if you're not turning toward it and engaging it. Because that fear can teach you powerful stuff. But you have to have the courage to walk through that fire. Okay? The third thing that's part of the program is a big one, actually.

It's called self compassion. Might call nurture, patience. It would also be known as caregiver. You know something, I have never met a trader yet when they, you know, all of you beat yourself up a lot, you know, just by this and that and that. And yet when I ask, well, does it do any good? No. Then why do you do it? Because it just kind of happens. What happens if you want to change things, you bring self compassion to yourself. You acknowledge your suffering, you acknowledge your pain, and you actually bring loving kindness to yourself. Rather than this bitterness kicking yourself around, thinking that's going to improve performance. So you see that, and what you discover is that self compassion is the antidote to fear, not courage. You calm fear down with self compassion. When you calm fear down, what you do is you get access to the impartiality, all that logical thinking. The sage, that's who you want. Trading, that's who can think in probabilities. But the impartiality of a sage is easily contaminated by the fear of the orphan being attacked by the inner critic. Do you see how this works? This is a way of understanding mind that has proven incredibly, well, highly effective in being able to manage probability where you can be wrong a lot. Okay. It's just part of the game. And you know how, you need to know how to take losses and you need to keep them small and you need to let, you need to let the winners run. And this is how you do it. You do it not by reading stuff in a book. You do it by developing the mind and the emotions behind that mind that allow you to do it. This is how you do it. These are the internal strengths, the programs, okay, that are there, that you have access to. They're part of your genetic history that they're there. And you're going to have to, have to be successful in trading. It's just a matter of are you going to learn to use them. I'm not talking wishful thinking. I'm not talking about visualizations of what you wish to be. That always fails when you come into choke situations or affirmations of what a great disciplined trader I am. No, these are actually calling forward and building the feeling components and building a mind from those feeling components. That's how you do it. I have very specialized ways of doing it. So ultimately what you do, you build a new team of the self. You build a new committee. You know, and when you're in rough water like these guys, you know there's a captain there taking care of business. He's maintaining order under pressure. You know that there's workers there who are keeping calm. You know that there are people who have the courage to face their fears. And you know that there are people who know how to move this thing in rough water. Water. You have a team.

The truth is, is the way we organize external teams is a fractal of the way we recognize and build internal teams. I had a client who.

Flew C5s for 30 years and I don't. If you don't know what a C5 is, it's a flying football fields. Best way to describe it, it takes about seven men to fly that jet. And he said, you know, the mistake I had made after flying these things for, for 30 years is I believe that I was disciplined and confident. What I discovered is the Air Force had spent a lot of money to organize us, to choose us, organize us into a team to be able to fly those planes. What he. But what he did say.

What I recognize in the same way that externally I was placed into a team that could fly a plane like this. I needed to internally organize my mind into a team that could manage uncertainty. This is the emotional state programs that you are learning how to organize into a coherent mind. This is what we're talking about. So now you literally become the master of the self that trades. You control what you can control. You let go of the trying to control outcome and you control the moment of performance that you're in. You're no longer looking.

You'Re no longer looking at your P and L statement. What you're doing is you're saying it really doesn't matter whether or not I win or lose as long as I'm performing the way I need to be performing. Wins really are nothing more than landing on the right side of probability. Losses are only about.

Trades that ended up landing on the wrong side of probability. From my reference point, okay, this is when you get to mastering of trading. So ultimately this is the deal is you are going to have a trading committee whether or not you like it or not. Intentionally building it gives you enormous advantage. Okay? It allows you to build a mine that moves beyond the African savannas, moves beyond the hunter gatherer ancestors that we grew up as allows us to move into the modern world where we're managing probability. We're no longer stuck.

Okay, no longer stuck in a short term self preservation mode which most people in trading are. They'll never get out. And that's why about 95% of them will give money away to the 5% of the people who know how to trade. It's really up to you. It's going to happen one way or the other. The difference is whether or not you're going to pursue it, organize it, or work through kind of like the discomfort of reorganization or whether or not you're going to stay the same. Totally up to you. And ultimately this is stuff you should have been taught from the start of the trading education. You should have been taught in the same way that you take good analytics, the same way that you take good methodology, good platforms. You all get this stuff together and you're well trained. You should have been taught that emotional nature, the fundamentals of emotional nature so that you can learn to design the emotions that you're going to build a mind from. Okay, it's the part that got left out, but it's also the part that separates you from the promises of success. And where do we go from here? You know, what do you want to do? You know, if you, if you get this thing, you begin to realize, you know something? I began to realize that I really need to build a mind that can engage uncertainty. I need to get serious about my trading rather than sitting here drinking The Kool Aid that everybody's serving. I need to start getting really rigorous with myself and recognizing I can do that. Well, if you're interested, how do you become this change? I would encourage you to look at our group course. You know, it's. It's starting in January. It's got five group meetings with me. Okay. And we work from. It's. It's on Gotowebinar and we have five live sessions where I'm working with the group. And you have virtual classrooms that you go to for all the materials that you use, the guided meditations, the text, all that stuff.

And if you go ahead and sign up now rather than later, we're going to give you a gift of one $99 program. That's the emotional regulation program. That is top notch. It's really a great program. And what we discovered is a lot of people start early because they want a two month running start by the time January comes and they're ready.

Yeah. And all these holidays and they just want enough time to do reps because they know their trading is going to be slowing down. There's also the individual course. It is a much more comprehensive, personalized course. I mean it's a per. It's for people who really want this and they realize that they want personal mentorship and they want to be able to basically be mentored by me.

They are. Because what happens is the main thing about it is it comes with 10 sessions on Skype with me over a period of three to four months. It is a powerful course. Friends. Okay. If you're not ready for those, start working your way up. Go to my website, get my free gift. There's a number of articles in it. Start looking at all the articles, all the videos, they're free. Just go ahead and take a look at them and start really exploring how emotions and mind are put together to create high performance mind for trading. Get my book. And then you come back and start saying, how can I, how do I grow with this? Lots and lots of stuff on there. And it starts from free to very highly inexpensive to where you end up with the group program and the individual program. Powerful stuff, friends. And it is truly an answer to the one thing that nobody is talking about is, you know, how do you build a mind to work with trading? Okay. Powerful stuff. Now if there are any questions, if you will type in your questions, Dolores will either read them out to me or I will read them out and I will answer as many as I can. And over the next five minutes, how about that? And while I'm waiting on this, I just want to thank you for being here. Okay. And I want to. I want to thank all the folks who took out of their busy day to come and to listen and to recognize that, you know something, this is the element that is going to have to be. That's going to be. That has to be there for your trading to change. Okay? And I want to thank Shaken analytics that you got to have information like that. You've got to have that stuff. You need that. You need everything you can to build advantage in your direction. You also need your mind screwed on straight and tight to be able to use the information. That's what we're talking about. We're not seeing any questions, so I must have done such a great job that I've answered everything. So what I'm going to do is say, well, okay. I would also encourage you to come to website. It's down there at the bottom. It's the. My trader state of mind. And if you're really, really interested, you know, if you really start getting interested about how I go about doing this, you know which one's best for me. The group course, individual course, Ask for a free consult. Okay. You just go to our website. You hit the contact us, you follow up from there. Doris schedules the time. It's on Skype. So, I mean, you'll end up with time with me and we work from there. Fair enough. It's actually pretty good. Well, I'll tell you what. No matter what, my hope for you is prosperity. My hope for you is that you find a way to be able to take your dreams, to make them into reality. I hope you recognize that it's really all about learning how to build the mind into this. There is a question here. The cost of the group program. There's a couple ways. The way a lot of people take it is $200 for the entire program. And when you do that, you get the 199 for free, the free gift. But what a lot of people are doing is they're taking. They're taking the program now, and they, they. They've got a month, two months to prepare and really dig into it. Yeah. And they're basically at their own pace and stuff like that. Actually, a guy from Romania started that, and then it's starting a snowball now. About half the people that take our course do that.

Otherwise you can take it at $239 per. Every two weeks for. For five weeks. Yeah. There are five payments of 239. We've tried. It's either way. But with the 239, you're not going to get the whole program in advance. The thing is, what people need to be clear on, on the group course is that in January when it starts, I will have expected you to have already started the materials and applied the materials to your trading. Okay. That's why the guy from Romania started said, I want a head start on this.

That's the people who are very serious. They're not waiting to the very end. So that's the two ways. Thank you for that question. And that's it. So, friends, it's been great. I wish you well and thank you. Checking in analytics, and we'll see you sometime in the future. Take care. Bye. Bye.