A spoken monologue by Sam (Kardec Trader) arguing that most trading failures come not from lack of platform or methodology but from missing trading psychology. He contrasts action-oriented success mindsets (business/athletics) with the probability-based mindset trading requires, emphasizes letting go of single-result attachment, and directs listeners to his book and website resources to develop the right mental approach.
Do you remember what it was like when you were really exploring trading? When you were looking at it and going, you know something, I'm going to study this and if I can really make this happen, you know, I'm going to put myself in this, I'm going to really get motivated, I'm going to do what it takes. And then you take a look at it and you see this sophisticated platform you have to really learn to use and then you have to develop a methodology that you have to understand how to control risk and how to be, how to really make it so that you're on the top end of probability. And you go, you know something, I can learn how to do this. You know, I'm smart, I can make myself do this. You know, I've always achieved, I can make this happen. Then you get in and you do all this learning program. You spend the capital to be able to learn how to use these systems and how to think probabilities and how to manage all those squiggly lines and how to see trends and how to find opportunity and to manage opportunity. You know that like the back of your hand in, in understand, in theory. Then you learn all this stuff. You go out and before you know it you crash and burn. Then it happens a number of times and you realize oh my God, there's something, there's something wrong here. And here's the defining fork in the road. Is that, do you look at it and real? No, there's just some external factor that I'm going to learn how to, I'm going to learn how to make that happen. I'm going to find something off the shelf that I can pull in and I'm going to find the holy Grail that way. Are you going to understand that? No, what's happening is I'm missing a vital piece of how to trade and it's up here. It's trading psychology. Suddenly you move from a two legged, two legged way of trying to trade to a three legged stool. You realize that yeah, methodology and platform are vital parts of trading. But what's missing with most traders is the trading psychology piece. They have the knowledge, that's not a problem, they just can't apply the knowledge under stress. Until you learn that the psychology of trading, of top performing trading is very different then the trading that you see. I mean not the trading but the kind of success that you find in business and athletics, okay, is completely different there you can make things happen, you can take action, you force things to happen, you make your will happen or Use the opposite way. I'm going to be a perfectionist. I'm going to win by not losing. I'm going to be right. You take those skills that have been so successful into trading and you blow up. Why? It's very simple. The psychology of trading is based on a very new way for the brain to see the world in probabilities, where one loss means nothing. Your brain that you inherited from the African savannas is completely built different. It's looking at self preservation in the moment, survival instinct. And it will wipe out the kind of thinking that trading requires. Probability thinking. It will wipe it out amazingly. So here's your deal. In this psychology section, you're not going to find the success you're looking for until you get that piece done. Until you have a balance stool that can stand on its own feet. That's the point. And when you do that, you're there. The key though is what you have to really get is that the mind that you brought to trading is not going to be successful in trading. The mind that you brought is really rooted in self preservation in a short term basis. Look at your hesitation, you know, understand, to the old brain, hesitating is very successful strategy. It stops you from losing even more money. If you don't play, you can't lose. That's the way the old brain thinks. Same thing with being in a trade. If you give a little profit, it's going to say get out now while you have it. And you jump out and you leave all the money. The key is you're going to have to decide whether or not you really want to become a trader and develop the mind for trading. That's the key. If you do, you realize that you're continually projecting a virtual representation of the world onto the markets. There is no such thing as the markets out there. It's the markets in here that matter. The virtual representation, what the brain does is it takes all this information, organizes it into an interpretation, and you see through those eyes. Most of us, because of survival, we're going to see through the eyes of fear. We're going to hesitate, we're going to act in anger. Yet if you're seeing through the eyes of probability, you're seeing through discipline, you're seeing through courage, you're seeing through self soothing and you're seeing through impartiality. And literally you're no longer focused on whether or not you win or lose. You're focused on your performance. Do you perform well? Because ultimately you realize it's all probability. It's not win, lose, it's all probability. In fact the great traders knows this is that winning or losing really is immaterial to it just means you either showed up on the wrong side of probability or the right side of probability and you let everything go. It's all performance. Until you can do that, it's going to be very difficult to win in trading. If you want to learn how to produce a probability based mind to go with that really sexy platform, you have to go with that enormously knowledge base you have of risk management. You're going to have to develop mind for trading. Trading. You're going to have to develop a mind based on probability. Okay, so there how do you do it? First thing is go through my website, look at materials that really show you read my book. It is literally, it's literally looking at traders who are mindless of why they're blowing themselves up in the beginning to where they begin to wake up and build a mind for probability. Take a look at that. Start looking at the courses, start looking at the free stuff, start looking at all the stuff that's offered there. That opens the door for you to really see how you develop the mind that trades. Okay. I wish you well and hope to see you in the future. Take care.
Sam.
