Lord Krishna said that in Bhagavad Gita centuries before Ben Crowe. "To action alone hast thou a right and never at all to its fruits; let not the fruits of action be thy motive; neither let there be in thee any attachment to inaction."
One of the best videos you uploaded, really loved & enjoyed the topic... I will apply everything you said, this will make my trading better on the psychological side & also in my own personal life! 😄
These videos are so helpful, especially the really compassionate and encouraging ones. Thank you for putting them out there. They’re making a difference in my trading.❤
Great video. It's basic information that I've heard before, but because I trade alone it sounds fresh and encouraging, especially how you present it Lance. Thanks!
Honestly is, just got stopped out on a short, with a parabolic reversal after being up, but was waiting for a consolidation zone to lock in some profits. Was disheatening as hell.
Oh man, love this paradigm shift!!! More people need this message. A red day is a lesson day that also contributes to our critical growth! Long game mentality. Sooooo good! 🔥💪🏼✨ Thank you Lance & SMB ♥️
Awesome video, great stuff as usual any links to the mindset coach featured here, would be appreciated. I could not locate anything, probably spelling his name incorrectly...💡
Wow, such a good video and great points. I definitely focus way too much on PNL. I pretty much refuse to take a losing day and to stop trading for that day if I'm in the red. Definitely need to focus on the long-term strategy and progress. Thanks for this!
thank you Lance. Having a hard time to continually motivate myself to continue after 4 years of studying and trading options as my losses are bigger than my wins. Your video has helped me to focus on improvement.
grazie! - bad pnl days are good because the market shows a flaw in your system that you can improve and increase the expected value of your bobble head. it is increasing your longterm pnl, it is making you more adaptable across markets, making you a more resilent trader. making you a more mentally robust trader - don't compare yourself with others, just focus on getting better every single day - view adversity as an opportunity to get better
Good clip and thank you. For me, the down cycles, excess volatility, and harder parts of say being more of a pure long market participant, really helps develop the mental toughness needed to be in the market. Unlike most jobs, like painting a fence, writing a program, driving a bus, or writing a document, being an accountant where life is more deterministic, the market is a place where uncertainty and the future dominate the expectation set since the market trades on the future - which is uncertain. Accepting that and adapting to an ever changing information set and flowing with it helps prevent wanting to control the uncontrollable....
that might be true but you also should be confident due to succeeding more than you're failing. if you're constantly having these losing streaks it could be that your psychology is fine but your system is just bad
@@SacredCASHcow You must have a good control of both. Having a good system while having the psychology to apply that strategy and differentiating between losses/wins per day and losses/wins over a month, over 6 months, over a year is essential to succeeding in this type of business.
@@austinshum2561 I would agree somewhat. I think success begets success. if you're extremely skilled at something you will naturally be more patient and trusting of your analysis
Awesome video…I just subscribed and will watch every video. Started trading 9 months ago and wow do I obsess over PnL! Yesterday was my first 1k profit day and today I profited 32.00. It definitely bummed me out but this video has shown me a better way and to stay positive. TY!
You have nothing to be sad about with a $1,000 and then a. $32- day! It’s so easy after a great day or a great morning to give it all back the next day or two. Stay focused on the process and risk management and you will be golden.
Wow this video makes me strong I realize that my journey is full off stress because I always focus on every and each day of performance instead of long run.
Reminds me of the serenity prayer....God grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.
Absolutely great video! Meta cognition is the secret for success in any area of trading and/or life, and the way he explains how it relates to trading is just awesome, 10 out of 10! Thanks 👍
It seems like focusing exclusively on P/L is like looking at your feet the whole time during a hike; when you should be focusing on the path to your destination.
Obsession is neurotic and ego driven while passion is no more than a natural curiosity of understanding the subject matter. But even passion is overrated.
I am always thinking that if most of your traders trading every day with a fixed number of money, I mean, for example, some of you just trade 100$ each time on a day, without using your incurred profit or loss. Is that right? THANKS!
Nobody just wins except the buy and hold people who hold in a 9 or 12 or 50 year bull market, because they don’t actually look at the market. Traders gotta WORK to win consistently and to HOLD ONTO their gains.
This is complete nonsense....If I can tell if a trade is going to be A/B/C/D then what's the point in dealing with C/D trades? And why then not go all in right at the beginning if you guys can tell?
Don't see much difference between p&l and bubble heads, it's sounds the same just named differently , just use monthly/quarterly p&l instead of daily and focus on making your trade right every single time.
