What No One Tells You About How To Become An Elite Trader (Surprising)
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- เผยแพร่เมื่อ 15 พ.ค. 2024
- Trading Psychology is vital to your success as a trader. We share what elite traders are doing that you may not be so you can take the next level in your trading
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#tradingpsychology #stockmarket #daytrading
SMB Disclosures www.smbtraining.com/blog/smb-...
Becoming a great trader makes you become a great human being ...
it can
I love the quote "Change comes only after pain !" . If you really want something unfortunately is true. Thanks a lot for another mind opening video !
yeah that is a good one. thought you would like that one
I just went through something similar to Slayer on a smaller scale. This quote is especially meaningful to me as I am through the pain!
Kind of wish you were wrong...
Without a doubt, obsession is the common denominator of ALL successful people. Your black shirt guys have that quality. Eat, Sleep, and drink trading.
William Buckley yes top traders do the work to be elite daily. They are inspiring!
I sit with my identity before the open. I am an intraday trader and I wait patiently for the setups according to my methodology and then take the trades with faith and without hesitation. Any pain I experience from trading is a learning experience and increases my faith.
Patrick Showalter love it Patrick
Man these are great quotes. "Change comes only after the pain" & "Good is not good enough". The guys on your trade desk are really fortunate to have a team that push them to be their very best. And then they want more. Awesome.
thanks for the kind words!
@@smbcapital You're absolutely welcome!
"Good is not good enough!" Taking this as my new mantra.
noted
I caught myself believing this, I had hidden it cleverly inside my strategies and pursuit of development, but it was there. Took a while after this video introduced the concept. many thanks to Mike & co !!
That's such a common bullshit mantra.
There's a mantra I live by, giving your best is not enough, doing what is required(to win) is enough
Mike, I had an amazing day of my trading career today, and had it not been this video by you saying Good is not Good enough, I wouldn't have made it this far, I know I have a long way to go but still you've helped me grow as a person and a trader big time! I can not appreciate your efforts enough in helping me. Good is definitely not good enough.... Thank you again Mike!
I love the “sitting with his identity” practice and I’m going to implement this
I agree; no matter how good, seconds allow choices. It is rare that I say “good job.” It never ends.
"Good is not Good enough"
I love it Mike! Thanks for the inspiration
This is free content to the TH-cam trading community but to the individuals who watched the entire clip is priceless. Very inspiring and will do my best to be a better trader in the near future.
look forward to you doing that
Love how this content links up with a book I read now (Trading in the zone) - I'll keep on putting my effort on the proces of building my identity as a trader - surely a beutiful road, not a destination, as we must always grow (as you always mention ) and adapt (as Dr. s described in the ABCD module)
love the focus on building your identity as a trader
I choose ...sit with my trading identity before open. I am 51 and do very well in chaos, Fed announcements, etc. Reminding me of self would go a long way. I am an extremely fast thinker (even at my age) but leads me to fail on longer term horizons due to lack of support group (being around other traders). So I need self-talk to calm me when I need stability in the calmer markets.
Scott, hopefully you can find a group of traders who you can chat with each day
What I loved is that we are by our intrinsic nature limiting our abilities and we have to recognize that and expand those limits and altogether be free and we have to continue this cycle of improvement.. good is not good enough..
Love the fact your open on growth, i found out that just trading Equities wasn't good enough for MY CAREER
yes excellent observation by you Reo
Great advice on the mental aspect of trading. If good is good enough, a person is better off sticking with a regular 9-5 job. Trading is for people who want and can be excellent at it. Tomorrow morning before the open I will meditate and sit with my trading identity. 🙏🤑
excellent best practices
This motivate my mind! I'm excite about tomorrow's trading now! I've been consistently winning last 4 weeks, but scared to go bigger although my simulations were all correct. I'll put fear out of my mind and put excitement into it. Thx
Wow what an inspirational episode! It got me excited to study more!
Thoroughly enjoyed !
Thanks Mike!
you can be better Razzy
Thank you for the great content. “Good is not enough” is so inspiring.
gr8 to hear
I wish you do a few more of such videos, this is like old wine just gets better, I often listen to this just to refocus and motivate myself to be better. Thanks a lot Mike.
awesome! I'm sure we have some good classics on the channel by now
Found your videos last Friday night, have been bingeing on them ever since, I work a graveyard shift so I can also watch them at work. I'm also listening to "One Good Trade" in between.... At almost 50, I'm not aspiring to get a job at SMB, instead I'm trying to learn as much as I can to hone the necessary skills over the next 12yrs, hopefully sooner, until I can retire and do this fulltime... THANKS, FOR THE GREAT VIDEO CONTENT, much appreciated!!
glad you have found us Luis
Absolutely brilliant! Thank you!
I am currently in the middle of One Good Trade. Loving it and definitely going to be in my favourite list. Thanks Bella for such a good work. Also, I don't think you look as scary as you have portraited yourself in the book. ONE GOOD TRADE then ONE GOOD TRADE then ONE GOOD TRADE. Lets goo.
that's awesome to hear, glad you are enjoying it!
I'm going to sit with my trading identity, great concept
The greatest motivator is fear. Fear of failure fuels winners.
This is awesome. Thank you!
Awesome and Inspiring... Thank you...
I found very helpful to define what Kind of conditions I like to enter a trade, that helped me to find my identity
excellent work here by you Ronald
The true quote is actually this: The pain of a change will be resisted until the pain of the present is worse than the pain of the change."
No question...I would do both. I would first collaborate then sit with my trade before the open. And then collaborate after the trade. Win or lose. Repeat...
GREAT to see you in Vegas! Bella.
thxs for saying hi Kenneth. come visit us in NYC
I already do both but am working on my ability to leave things behind this seems to be my biggest river to cross so far. Not so much a loser trade but all of the things from my life that hold me back like the fear of success and what comes with that. I've always believed if you want something bad enough no matter what it is you will find a way to get it. I have created success in all of the other goals that i strived for(sounds a little arrogant but it is true) the numbers don't bother me I have dealt with big money in a lot of different things, it's only man made and I truly believe that anyone can accomplish their goals I've done it I've seen it done by others so it's real. I guess I don't want to leave anyone behind that happen before and people were hurt I don't want that again. It's a tightrope walk between average and successful and people that dont have the drive fall off.
Grow or die, this quote applying in real life may bring changes. Thanks for psychology video @smb
it is from Phil Knight and his book Shoe Dog
great video.
may I see somewhere a video with Swang's scalping strategy?
thxs for the suggestion George
Needed this
Man that hit home. Time to step my game up. Good is not good enough!
love it!
Great video, I trade my own account and profitable every month but not every week. I can put trades together well and make good money on opening range breakout plays( like today in SMH etf, Spy and CVS as it got over 63.50 level. However I do mess myself up by taking other setups such as 15 min pullback trades which am not great at and other overtrading issues. As I trade by myself I thinking that maybe making a twitter account and documenting everyone of my trades would make me more accountable. I do my usual journaling but only for myself so maybe putting it on social media may help. Is that a good idea?
I really like the idea of holding yourself accountable. this is one of the huge benefits of working at a prop firm.
Thanks Boss Mike
Easy to say all that when you have a bunch of cash to work with. But the small accounts you can’t be more than three round trips in one week, how do you overcome that?
Great, great stuff
I am reading your book (the play book) and yes I agree when having trades like shark and TO who are trading stocks =Good is not good enough = is a good rule
But I don't think it applies to futures day trading, since the philosophy three is the following one =hit your win? Good, come next day back
Yeah things may be different for futures markets but focus on the underlying idea :)
@@smbcapital i agree , i love your book , learned alot and implemented ideas from there
Thank you!
I think I need both. Accountability to stop me being in bad trades all the time. Also the identity of focused, calm, patient identity will help me do this. I can see good trades, but I have been destroying my results with bad impatient trades. Like trader needs to be in market all the time or should trade every leg of the price move. Heaven sake - no
Collaboration, there are plenty of hungry traders in my community and I think utilizing each other for feedback as well as accountability will really benefit us.
Fantastic video Mike.
thxs Bevan
Thank you!
Welcome!
How does someone start the process of learning to trade for a firm?
Mitchell Migala you might try tradingworkshop.com
Thank you Mike.
you are welcome Joseph
shark looks like PROFESSOR of laca sa de papel.....
AMAZING
Great video 👍🏻
thank you
Thank you
🫡
Gold!
Sit with my new trading identity before the open and visualize.
I'm going to do a couple of private 1 on1s with my current mentor. About
stock swing trading. we are very similar in how we like to trade. the
difference is, he actually makes money.
malthus101 Try WSB on reddit 😂
AMG Mercedes "perfect isn't good enough" 😅
👍😎
nice!
Achilles thank you
Wow
I think that is good so thxs
FIVE STARS
appreciate that Michael
Thanks Michael!
Yeah, this video didn't give me anything I didnt already know!
Never use TA and u will win
I trade penny stocks exclusively and make 80-120% return consistently per month. I feel sorry for you guys. But then again, you guys are probably trading with tens of millions
Big L,
OK, 80-120% per month?
Who cares? I certainly don't.
I say you're less than honest.
If not, you should be making more or didn't you listen?
Cheers
Lenard Melvin you sound jealous? Enjoy your 4% a month. My strategy turned into a system, it took me one year of studying the market, and then another 5-6 months of losing before i became profitable. At the 6 month mark the system was complete and now for the past year i’ve averaged 80-120% a month using only two patterns and one system.. penny stocks are not scalable.. the max i can put in one trade is on average $400k usd, sometimes more sometimes less.. but making 30% on that within an hour.. consistently over the month, is more money than i need or care to spend
So what are you trading?
@@Arsenal2045 sounds like you desparately want recognition. Otherwise you would not have posted on here. If you really did not care about the money then you would not have to put down others to make yourself feel better.
@@Arsenal2045 That's sad. It only took me 3 months from the day I started trading to make 150% consistent returns on average every week for the past 4 years with my penny stock system 🧐 you're just an amateur 😂
Watch in 1.75x. Thank me later.
And buy you geting a A+ you have stole from somebody else by being so rutheless.
15 mins of blather and no details of trade. Please don’t waste your time.This is a pitch for his trading workshop :)
2 mill and all you get is a black shirt? 🤣
well there is you get to keep the money as well
I'm going to sit with my trading identity, great concept