Best Advice On Trading Discipline from a Poker Player - Tommy Angelo
ฝัง
- เผยแพร่เมื่อ 28 พ.ค. 2024
- In this episode of the Desire To Trade Podcast, I interview Tommy Angelo, a world-leading poker player & coach. He was the ideal person to discuss trading discipline & building a profitable trader mindset.
World-class coach and author Tommy Angelo is considered a modern master of poker's mental game. Called "the seminal poker text of the 21st century" by The London Times, Angelo's Elements of Poker has revolutionized how serious players approach the game.
Tommy has been a professional poker player since 1990. He has coached hundreds of players and written five books.
Find Tommy on TH-cam: / thetommyangelo
Website: www.tommyangelo.com
Twitter: / thetommyangelo
📈 FREE Case Study "Quitting Your Job To Finally Trade Full-Time": desiretotrade.co/case-study
Timestamps
0:00 Start
0:15 Interview Introduction
1:31 Who is Tommy Angelo and what he does
3:18 How Tommy got into poker as a career
4:44 The importance of having the drive & passion in poker and trading
6:59 The No. 1 thing poker players get wrong
8:12 Why consistency is one of the most important aspects in poker and trading
9:30 Bad decisions making $ vs Good decisions losing $
11:28 How Poker players track their performance
13:23 What are the best practices for trading and poker
17:19 How to stay top-notch with your mindset
20:09 The different types of meditation and how you can use them to bring awareness to your trading
26:04 How to use breathing and posture to improve your awareness
29:29 How your pre-trading routine affects your results
31:59 The importance of bankroll management and how to grow your account
36:40 How to deal with money mindset in poker
40:57 Where to find Tommy Angelo
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// ABOUT ME
My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for!
If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you're good at.
// Disclaimer
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.
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What's your favorite advice from this interview?
To do exercise while trading. I personally need to start doing this. This advice also reminds me of NLP training. I think combining NLP, exercises and proper diet would improve any traders performance.
Now if you'll excuse me I have to eat a hamburger and drink some coke because I've skipped breakfast and need my sugar rush :P
Love your channel, you have a generous amount of OG traders! Your work is a great value to the trading community. On edge for more, thanks!
@@DD-lm1gv 100x100
Bank roll management, risk management and protecting your capital... 👌👍🇨🇦
"adding meditative techniques while trading"...love that!
I love your channel. The more I’ve studied about trading, I realize it is less about the market and more about contending with myself in the randomness after placing the orders on.
This is spot on 100%. And the times we lose big, way more than what we planned to lose, are the times we lost control of our behaviour. It wasn’t the market.
This is one of my fave interview now. I also play poker and black jack...It's about computing and tweaking the odds on your side....If your wrong fold your hands...Take a loss to live and trade another day....Thank you Etienne
I’m very glad you can relate to it! Trading is very similar to professional poker.
So much value omg! This is enough inspiration for a book lol
Absolutely yes! Glad you liked that discussion 🙏
Great interview Etienne as always! I started playing poker and taking a course because I was intrigued how people make money on TV. I am also a trader myself. Everything resonated in this interview. Poker if done correctly can make you good money. Same can be said about trading too. I would say patience and not taking bad hands/setups (poker/trading) its most important. If we could remove all those bad trades we would be all a better trader. And maximizing on the strong setups is the key to build money over the long run. Slow and stead wins the race in both games.
Epic Interview 👍 What I like the most about your guests they have no ego. They are honest and cards on the table
10/10
That's super important 👌
Be passionate about doing the right thing, leave the result to the universe. Your job is only to play right, never care about the result. Be it in life or poker or trading
That's a great lesson 💪📈
this is SO strong. nothing but respect for tommy!! 🙏
Man this guy is amazing. Another great interview Etienne
Glad you enjoyed it! Much appreciated comment!
This guy tho! I really like him, rhis is my favourite interview out of all the ones I've seen, Etienne. Keep up the great work
Been watching, listening, and paying attention to all of predictions and forecasts since early Covid. He hasn't disappointed yet 👌
Love Tommy!!
He's the best!
Awesome Jim! Glad we agree on that :)
thank you Etienne! you are improving a lot of people with these videos!
This is what i was looking for.
Thank you.
Awesome to know! Glad you liked this interview!
This is mind blowing! Thanks 👍
great interview. Calm mind is everything
Etienne you have such an amazing Channel, I've been watching you for a few years. Just wana say thanks. I'm really looking forward to this interview with Tommy !!
Wow- really enjoyed this. Thank you
Wow great! You're the man. I'm impressed on your guests! I was a poker player that switched to trading because they're so similar in terms of probabilities, statistics and mindset. Trading however gives one more control of the outcome based on a number of factors like stop loss 📉 and position sizing. Good poker players make great traders!
So much great info. Thanks for this
I'm glad you liked that interview!
Facts..great discussion
Glad you liked it 🙏
Great interview
I'm very glad to hear that, Hector!
That's was super fun! I really enjoyed that interview.
Glad to hear that!
This is the best lecture ever😊
Brilliant! Tommy is an amazing example of turning it around. Thank You both for this one.
Totally right! I'm glad you liked the interview!
Mr Angelo you are a great coach. Thanks for your fantastic advice
Wow, Etienne! This is the third interview of yours that I watched. I love your style, topics and selection of guests! I can't wait for the next one!
Thank you! New interview every Sunday!
Go way back. This guy is on fire. He gets screen time with the greatest minds.
Wow the content are honest and easy to understand. Keep on doing good job we love ur channel here in south africa
Thank you :)
super entrevue, Etienne. Content d'avoir trouvé ta chaîne.
Tommy's insights on improving mindfulness are helpful for improving focus and getting through life. Interesting analogues between poker and trading. One observation is that trading involves a lot of focus on managing one's own mindset and execution, whereas poker involves an additional element of observing and manipulating the mindset of one's opponent.
Another great interview
Thank you 🙏
Thanks E great interview he has the best outlook on life philosophy I've heard in a long time, and applying it to trading can only strengthen your trades.
That's very true 👏
This is more then strategy.. it's golden .. this will surely light the path of my trading journey. Thanks a million time
I’m glad you liked that interview!
This is Amazing
Glad you liked it 👍
Great job !!! Thanks for such gems on ur channel
Very happy to hear! Much respect, Abhijeet!
Good video
Excellent. Just what the doctor ordered. Etienne, you have the greatest interviews. Keep it up homeboy!!!
Glad you can relate to this!
@@DesireToTRADE I just watched Plan YOUR Forex Trading Success Journey! ft. Navin Prithyani. How can I get that hat you are wearing in that video?
@@Loanme5 you can go right here: teespring.com/stores/desire-to-trade
What a great guy!...Another great interview Etienne 👌
Very glad you liked that one, Jason!
Great interview and interesting about how meditation could be beneficial for trading and poker.
Glad you liked the interview 🙏
I really like this guy! ⚡️⚡️⚡️💯❤️
Amazing video, great value didn't know that poker had so much similarities with trading
Glad it was helpful!
Great interview, discipline from a chess player would be dope.
Thank you for all of thevalue you provide, Etienne! It has really been a key piece to my progression over the past 2 years.
I'm very glad to help!
Great interview.. Happy trader for me is to cover my monthly expenses! Any extra is a bonus 🎉
It doesn't matter whether you're muslim or buddhist or hind or christian this is the talk we need. Full of facts. The most important thing how you accept and interpret his talk and suits it to your own kind of thing and your religion.
That's very true!
Lot of good feedback from these podcasts but Tommy Angelo may take the prize. Great interview!
Much appreciated!
After watching this,I started following world poker tour. As I watch it I notice the similarities to trading.
That's awesome :-)
I found your channel very educational and worth subbing. thanks for the apploads ! a fellow creator
Fire
gem
Why changing the camera when Angelo is showing how to do something? I don't get it.
Thanks for the interview, apart from the mentioned, is very interesting
I used to record the interviews with Zoom. You can’t change who’s on camera. It’s one of the reasons I moved away from it.
Competent poker players make great traders. Use to play online poker in the high of online poker world. I miss Pokerstars and Full Tilt :( (I'm US citizen)
The question is. Can you trade and player poker at the same time and have two income sources that way? My guess is no, but it would be interesting to find out. Probably you have to specialize in to one thing to such a degree there is no room left for the other part.
It would be tricky but I'd be curious too 👌
I’m still fairly new to Forex Trading (7months)
I’ve learned so much about the skillset, and even with any “high win-rate” strategy I found myself exposing myself to too much risk in my lot sizes and trade quality. I wish I had seen this sooner.
But it makes a lot more sense after struggling through bad losses and lucky wins
The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliche, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short. The goal of a successful trader is to make the best trades and Keeping an eye on your risk and cutting your losses short. All these I learnt from Dr Rex Coleman
reach out to him on chat
+17162815308
Poker it's about luck , trading it's about being on the right side of the market ,there are similarities but let's not mix them up
Not true at all. Did you not watch the interview Tommy lived off poker for 15 years. And he's not the only one.
From india
Glad to see Tommy moved from the mob life to poker
Will I always be a degenerate? The more money I make the worst it gets.
Excellent interview. On a sidenote, he kind of sounds like Joe Biden.
Glad you liked it 😁
You let him completely hijack the interview and just turn it into a crash course on meditation. That is NOT what anyone on here tuned in to see. Control your guests better, Etienne.
I thought it was a solid interview.
The best advice from guests come when they express themselves freely...not when you frame everything and interrupt them.
@@NeilAC78 Yeah except for the 30 minutes in the middle where he went off on a long rant about Buddhist meditation
@@DesireToTRADE Yes but then you edit out the garbage they say and only include the interesting parts. No one on here tunes in to learn how to meditate. We come to learn about trading.
I found the meditation aspect interesting because in trading it's easy for many people to get into a 'revenge trading' frame of mind or to trade with too much emotion (either positive or negative). If meditation can help me to stick with my plan then that can only be beneficial for risk management and trading performance in general. I guess it's best to take the parts that work for you out of anything that you are shown.
Hey etienne I asked my broker some questions and got this response can you @ me
Typically providers globally act as a principal to your trades.The use of ECN technology allows us to access prices streamed from liquidity providers whom you may be unable to trade with directly. We do not act on your behalf as an agent to buy or sell Forex or CFDs. We do not use the term A or B book as to describe our business model.
FP Markets handles its order in a variety of ways, which ensures all orders receive the best possible execution. These include hedging with an LP, offsetting with another client’s trades, or holding a trade internally (also known as warehousing). In instances where trades are ‘warehoused’, FP Markets may profit from client losses.
We hope this information is of use to you, please let us know if you need anything further.