Episoder
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Do you ever wonder if there is something fundamentally wrong with you? After all, you have been trading for so long that at this point of your development as a trader you should be able to get it, right? And despite all the work and effort you put into it, you still make the same mistakes as years ago. In this situation, how can anyone stay confident in their own abilities to make the right decisions and perform on a level that trading requires?
In today's episode, we delve into the common struggle of feelings of inadequacy in trading. We discussed how early experiences, upbringing, and societal pressures shape these doubts and explored strategies for overcoming cognitive biases like imposter syndrome and negativity bias. Our key takeaways include understanding the roots of these feelings, challenging cognitive biases, and building resilience and self-worth independently of trading outcomes. Tune in to learn how to tackle these challenges and rise stronger in your trading journey!
Get FREE Trading Mindset Tips weekly email series with easy and immediately actionable tips to help you break free from the failing cycle and build the mindset required for successful trading. Click HERE.
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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Have you ever found yourself wondering if there's a missing piece to your trading puzzle? Have you tried every strategy, analyzed every chart, yet still feel like something crucial is escaping your grasp? It's a common sentiment among traders, with many voices in the industry proclaiming that trading psychology is the ultimate answer to our trading challenges. But what exactly does that mean? How does psychology fit into the puzzle of trading success?
In this episode the host Agnieszka Wood delves into how trading psychology and mastering your mindset can help you get out of the failing cycle, how it can empower you and where you can start to unlock its transformative potential.
Get FREE Trading Mindset Tips weekly email series with easy and immediately actionable tips to help you break free from the failing cycle and build the mindset required for successful trading. Click HERE.
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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Manglende episoder?
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Have you ever tried to salvage a losing trade? Watching the chart bleed and trying to figure out how you can make the loss disappear? And every solution you came up with just made it worse. It’s like mission impossible. In this episode you will learn different way you can try to win this battle and understand why they don't work.
Get FREE Trading Mindset Tips weekly email series with easy and immediately actionable tips to help you build the mindset required for successful trading. Click HERE.
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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Can you imagine what would happen if from one to another day you just stop losing in trading? All your dreams could come true, right? No emotional rollercoaster, no frustration with yourself and enjoying your profits without the fear that you might lose it all tomorrow.
In this episode, the hosts Agnieszka Wood shares what she did to get out of the losing cycle. She is confident that if you repeat those steps, regardless of how long you have been struggling with your trading you can do it, too!
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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In this episode, the hosts Agnieszka Wood focuses on the art of spotting the best opportunity to achieve the highest gain. She takes you on an exotic journey to illustrate how to develop the skill that is necessary to get the most out of your efforts. Drawing upon her life and trading experience she knows to ask you some very confronting questions that will help you move forward on your trading journey. So, buckle up and enjoy!
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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In this episode, the hosts Agnieszka Wood delves into the question that many aspiring traders grapple with: How long does it take to become profitable in trading? Drawing upon their own trading experiences and trading psychology, Agnieszka provides insights on how to speed up the process and start getting desired results.
The episode underscores that while there is no shortcut to success in trading, discipline, dedication and willingness willingness to do the inner work, are paramount on the journey towards profitability.
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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What if the key to transforming your trading performance was not in chasing the next big win, but in the SUBTLE ART of how you trade?
In this episode of the Confidence in Trading Podcast, the host Agnieszka Wood shares insights on how to change your trading into a reliable source of income by making small adjustments to your trading process. If you are interested to get more tips CLICK HERE to download the full guide to consistency here for free.
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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When you started trading, have you ever considered how much of a fight it will be? That you will constantly be getting in your own way sabotaging your success and repeating the same mistakes over and over again and beating yourself up for it?It appears this is not entirely your fault and in this episode I will tell you why and what you can do about it.
In this Episode 26 we dive into a hidden mechanism that cause most traders to get stuck in a failing cycle. You will discover this one thing that nobody takes into account, that impacts the trading performance negatively on a daily basis. You will also learn how you can manage it and finally stop fighting your way to success.
If you are interested in turning your trading from fighting and surviving into thriving CLICK HERE
Some of the information in this episode was sourced from "Evolve Your Brain" by Joe Dispense D.C.
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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Have you ever noticed that constant talk in your head? Sometimes it can get so intense that it's hard to shut it off.
And when you're trying to focus on trading that's not very helpful. In this Episode 25 we dive into the number one mental skill that is key to success for every trader. You will learn how mastering this skill will help you manage that voice in your head and even use it to your advantage.
If you are interested in learning this crucial skill under the guidance of a professional coach, so you can be sure to use it to its full potential CLICK HERE
About Agnieszka Wood
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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Ever found yourself riding the waves and booking great trading results? Only to hit a few rough patches that leave you feeling like you're starting from scratch? What if I told you there's a way to approach this situation that will help you get back into your trading zone quickly?
Episode 24 of this podcast delves into the elusive goal of achieving consistency in trading. From redefining consistency and offering practical metrics for measurement to embracing setbacks as part of the journey, this episode offers invaluable wisdom for both novice and experienced traders alike.
If you are interested to learn more about the Trading Mindset MasteryJourney CLICK HERE
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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Ever wondered why reaching your goals seems like an uphill battle? Well, the secret sauce is all about cultivating discipline in your thinking. Without it, your goals can slip through your fingers. Brace yourself for a journey of change because, truth be told, unless you get a grip on your thoughts, they might just throw a wrench in your plans.
In this latest episode of the Confidence in Trading podcast, "Mental Habits for a Disciplined Trader," your host Agnieszka Wood delves into the nitty-gritty of taking control of your thoughts. She'll walk you through parameters to filter those thoughts, making sure they're working for you, not against you. Don't miss out – tune in and gain insights that could be the game-changer in your pursuit of disciplined trading.
If you are interested to learn more about the Trading Mindset MasteryJourney CLICK HERE
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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What if I told you that you can become a disciplined trader without putting much effort into it? That you can follow your rules and finally stop your frustration about not being able to stick to your plan? Since the discipline is often perceived as challenging or unpleasant due to its constraining character, it can be quite conflicting concepts for traders who desire independence and freedom. In this episode of the Confidence in Trading podcast "Trading Discipline Without Effort" the host Agnieszka Wood dives into a different approach to building discipline as a trader.
If you are interested in the research on on the effects of meditation and mindfulness on the brain:
Click HERE to watch the documentary with Dr. Richard Davidson on the Science of Joy-Mission: JOY
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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In this episode of the Confidence in Trading podcast "Going Against the Trend to Win" the host Agnieszka Wood talk about winning through differentiation in trading. She dives into the elements of human nature and discusses how human nature can sabotage your trading efforts. Specifically the herd mentality – the tendency to follow the crowd, can lead to irrational decisions in trading, where independent thinking and analysis are absolutely crucial for success. This episode aims to inspire you to dare to leave the 90% of unsuccessful traders group and be different to join the winners.
To begin your self-discovery journey visit tradingmindsetmastery.com
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
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____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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In this episode of the Confidence in Trading podcast "Two Secret Traits No Trader Talks About" the host Agnieszka Wood shine light on two traits that are crucial to achieving consistency and profitability. Something that not many traders consider, but that she has discovered on her trading journey to be absolutely essential in order to survive and thrive in the market environment.
She will also share how her experiences in the earlier stages of her life not only had a negative impact on her trading but also served as a catalyst for a major breakthrough. As you listen, observe the thoughts that arise, as they may offer valuable insights into your journey as a trader.
To begin your self-discovery journey visit tradingmindsetmastery.com
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
—
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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Ever wondered why fear is such a prevalent emotion in the financial markets? In this episode of the Confidence in Trading podcast " The Terrifying Truth About Fear" the host Agnieszka Wood talks about how traders can overcome their greatest fears.
Explore the origins of fear, understand the psychology behind it, and discover practical strategies to conquer it and become a confident trader. From cognitive biases to the fight-or-flight response, we uncover the factors that drive fear in trading and offer insights to help you thrive. Whether you're a novice trader or a seasoned pro, this episode provides valuable tools and knowledge to navigate the emotional challenges of the trading world. Tune in and take the first step towards mastering your trading fears.
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
—
Contact Agnieszka Wood | Ahead Coach:
Website: aheadcoach.comTwitter: @Ahead_CoachYouTube: @aheadcoachFacebook: Agnieszka WoodInstagram: ahead.coachLinkedIn: Agnieszka WoodYou can email me at [email protected]
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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In this latest episode of the Confidence in Trading podcast "The Right Trading Mindset" the host Agnieszka Wood delves into the world of different types of and discusses how mindset is a culmination of life experiences that shapes our actions. Enjoy her exploration of the importance of vulnerability in the uncertain trading environment. She emphasizes that the key to success in trading is having a mindset that is aligned with the market environment and that consistently guides you to make decisions in your best interest, regardless of external influences. There's no one-size-fits-all approach to the "right" trading mindset.
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
—
Contact Agnieszka Wood | Ahead Coach:
Website: aheadcoach.comTwitter: @Ahead_CoachYouTube: @aheadcoachFacebook: Agnieszka WoodInstagram: ahead.coachLinkedIn: Agnieszka WoodYou can email me at [email protected]
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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In this episode of the Confidence in Trading podcast "Trading Against Your Interest", the host Agnieszka Wood talks about traders' self-sabotaging behavior and how the beliefs can contribute to blocking the way to success. She emphasizes the critical importance of introspection and self-awareness in recognizing and addressing the limiting beliefs. Get inspired and motivated to embark on a transformative journey of self-discovery, ultimately empowering yourself from the inside out and unlocking your full potential.
If you don't want your limiting beliefs holding you back from realizing your trading aspirations – register for the Free Trading Mindset Masterclass HERE.
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
Register for my Masterclass at tradingmindsetmasterclass.com – its FREE for limited time ONLY
—
Contact Agnieszka Wood | Ahead Coach:
Website: aheadcoach.comTwitter: @Ahead_CoachYouTube: @aheadcoachFacebook: Agnieszka WoodInstagram: ahead.coachLinkedIn: Agnieszka Wood—
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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In this episode of the Confidence in Trading podcast "Dopamine and Day Trading - The Science Behind The Rush", host Agnieszka Wood explores the role of dopamine, the brain's "desire" chemical and the effects that it has on decision-making and risk-taking. Learn about the two characters of dopamine and the ways it can help and sabotage your trading efforts. Discover how to use its power to your advantage in the pursuit of financial gains in trading.
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
—
Contact Agnieszka Wood | Ahead Coach:
Website: aheadcoach.comTwitter: @Ahead_CoachYouTube: @aheadcoachFacebook: Agnieszka WoodInstagram: ahead.coachLinkedIn: Agnieszka Wood—
Transcript:
[00:00:08.490]
Welcome to a new episode of the Confidence in Trading podcast. I am your host, Agnieszka Wood. I am so happy that you are here because today's topic could provide many of you with a lot of answers that you might have been searching for for a long time. Welcome to episode number 16, Dopamine and Day Trading - the Science Behind the Rush. Last week I mentioned how easily I can get bored and distracted and how I am constantly looking for new experiences.
[00:00:41.800]
I just love the feeling of starting something new. The excitement gives me a lot of energy and a huge confidence boost at times as well. Already as a child, I could not stick to just one hobby and after a month or two of, let's say, collecting postcards, I would be onto a new endeavor. I had a lot of hobbies at the same time, but I would end them one after the other very fast. My mom would say sometimes that I burned through hobbies, like through stack of hay, and that did not change.
[00:01:16.890]
Growing up, I was always getting very excited to start up a new initiative, whether that was a new job, starting a new business, or even a new relationship. And sometimes that was based on a very impulsive decision, getting very easily distracted and being able to get myself very enthusiastic about something to the point that it had to happen right now. And I am very, very good at talking myself into things, especially if I really feel excited about them. With time I have learned to get that under control and also talk myself out of things, especially those that are not in my best interest. But I can tell you that my head still keeps trying and if I don't pay enough attention, mindset coach or not, I will sometimes fall for it.
[00:02:20.350]
That's where knowing yourself becomes so important, especially if you are serious about achieving your goals in life. From my own trading experience and my work as a trading Mindset Coach, I know that this characteristic is quite common among traders and maybe even you recognize it yourself. If you have been following me for a while, you know that I talk a lot about beliefs and how they orchestrate everything we do. And if you want to change your behavior, that especially behavior that does not serve you, that you need to look at your beliefs. And if you want to change a behavior, especially behavior that does not serve you, you need to look at your beliefs so you can replace the limiting ones, the ones that are not helping you get what you want with empowering beliefs.
[00:03:24.210]
Beliefs are basically thoughts that we kept thinking until they became so strong that we started to identify ourselves with it and consider them the truth. And because of that, we never think to question them anymore. And so yes, on a mental level, we are being sabotaged by our own beliefs because your life changes. And sometimes the belief that you have been carrying with you for a long time through your life, they simply are not valid anymore. I would say not only not valid, a lot of times they are simply not functional and stand you in your way.
[00:04:13.010]
So that's one dimension that anyone who has some sort of dream and especially when you are working hard to make it happen and you don't move forward, that's the one dimension that you need to look at, especially if you want to book some progress, right? So beliefs, that's on a mental level, that's what stands a lot of people in a way to their goals and in a way to even, sometimes define their goals or even having a dream. Because limiting beliefs are not only preventing you from achieving your dreams for taking the necessary steps, many times they are actually preventing you from dreaming, from believing what is possible for you and from believing what you deserve and what you are worth. [00:05:13.190] So that's on a mental level, and if that's not enough to deal with, we also have a physical level that can work for us or against us. And yes, on a physical level, the first thing that comes to mind when achieving goals for everyone is going to the gym, having a workout routine, having a good diet, taking care of yourself.
[00:05:40.580]
And that's all very important. But what I am particularly interested in is what is happening behind the scenes. So not what's exactly obvious to the eye. Just like your beliefs are part of your subconscious programming. There is this one chemical in particular that I want to talk about today.
[00:06:04.950]
That chemical that has an incredibly big role in achieving success as a trader, dopamine. Dopamine is a brain chemical that was discovered in 1957 and was first seen as a way for the body to produce a chemical called norepinephrine, which is what adrenaline is called when it is found in the brain. Some scientists name Dopamine the pleasure molecule. But further research showed that Dopamine is not just about pleasure. The dopamine activity was not just a marker of pleasure, but it is a reaction to the unexpected, to possibility and anticipation.
[00:06:56.310]
This might be a hint for you why I am talking about this chemical and why is it such an important topic for traders. As human beings, we get a Dopamine rush from promising surprises. But when these things become regular events in our life and the newness fades, the Dopamine rush dissipates. Just think about relationships and the honeymoon phase. Sounds familiar, right?
[00:07:25.550]
Our brain is programmed to crave the unexpected. So logically we look to the future to deliver it to us because that's where every exciting possibility begins in the future. But as soon as the new becomes the usual, we turn our head and attention to the new opportunity. Back to the future. Just think about how often traders switch from strategy to strategy.
[00:07:56.510]
Especially when you don't get the results you want and you see maybe another trader on Twitter making money with a different strategy. Just be honest, doesn't a thought pops up in your head maybe I should try to trade what he is trading. It looks like he's making money. Maybe this is much better, maybe I should start doing that. Dopamine is great at is idealizing the unknown.
[00:08:25.570]
The problem is that the unknown can only be in the future. And when it actually becomes your reality and you finally get the things you want it's not as good as expected. The thrill of anticipation is gone and your excitement turns into disappointment. And because that does not feel very nice you are onto a new thing again and it can be very very addictive. So remember, Dopamine is the anticipation molecule and the only thing that matters to dopamine is to get more.
[00:09:10.050]
Having things totally uninteresting what truly matters is getting things. So when you are thinking about things you don't have yet, things that you can only desire, like the sports car you're going to drive when you finally become successful in trading that's when dopamine has more control than any other chemical in your brain. Think about it this way dopamine turns on the imagination producing visions of a rosy future. Because when we imagine things we want, we usually don't settle for mediocre. We tend to think about the best of the possible worlds and that makes the future more attractive.
[00:10:01.090]
But what you have to realize is that the future isn't real and it exists only in your mind. On the other hand, the present is real, it's experienced, not imagined the present moment. And that requires a different set of chemicals in your brain such as serotonin, oxytocin, endorphins they are called the here and now neurotransmitters as opposed to the pleasure of anticipations of dopamine. These chemicals give us pleasure from sensation and emotion. So if the future is wanting, the present is liking.
[00:10:51.330]
The feeling of wanting and feeling of liking are produced by two completely different systems in the brain. And for some people the switch from excitement about what you want to enjoyment of what you have can be very challenging. And we often don't like the things we have even though that's what we wanted. Take for example a relationship. Many people try to change their partner and when they finally succeed they don't like the way the partner is now.
[00:11:27.850]
Or in trading you really want your trade to go to your target price. Sometimes you pray if it only gets there but then when it gets there suddenly it's not good enough. And now you want it to go higher. Now you're not taking the profit, now you're greedy, now you want more. How many times did that mess up your good trade or turn a winner into a loser?
[00:11:52.470]
I mentioned before that the feeling of desire can be addictive and it happens when the dopamine desire circuits get overstimulated. Basically, addiction arises from the chemical cultivation of desire. And what I'm going to tell you next, hopefully will help you to find a little bit more compassion for yourself. Such addiction is a dopaminergic compulsion and it's not a sign of a weak character or a lack of willpower. So stop beating yourself up.
[00:12:32.690]
There is a chemical in your brain you're fighting against. The feeling of wanting becomes sometimes so overwhelming and all you want is to stop the unpleasant feeling of craving. That's what addiction is, regardless whether the wanted object is anything you really care for, whether it is good for you or might hurt you, it makes you behave like a man who carries around the rock all day because it feels so good when he puts it down. You might now start seeing some parallels of how you react in certain situations in your trading. In a trading environment, it is very easy to get overstimulated.
[00:13:16.570]
And dopamine is what fuels many traders uncontrolled behavior and losses. So if you think about your trading and look back at your day, you can probably pinpoint when you are operating from dopamine and when you are operating from here and now space. I talk a lot in my coaching about being in the moment and practicing staying in the present, because that's where dopamine has less effect on you and less control. So you can view dopamine as a trader's friend, but also as an enemy. So as a friend, it motivates you to come back every day and to seek profits and stay engaged in the markets.
[00:14:10.010]
But from the enemy perspective, yes, dopamine is responsible for your impulsive decisions and excessive risk taking. Think about it this way. The dopamine makes the work possible at all. Like if you have no dopamine, there is no effort. And you would just not be willing to work hard and come back every day and put your efforts into preparing, trading plan and spending hours in front of your screens flicking through charts.
[00:14:47.590]
The ability to put forth effort is dopaminergic and we need that. Dopamine is also giving you a confidence boost because we humans need to believe that we can actually succeed before we are able to succeed. Another thing that dopamine is serving as is a motivator, driving you to stay engaged in the markets. Motivation is very important for your progress. The anticipation of profits also help you to stay focused on your goals.
[00:15:27.610]
It gives you sort of positive reinforcement. Dopamine can also help traders cope with losses and provide them with a sense of optimism because it gives you this excitement about what you can achieve. It encourages you to persevere and adapt if you have taken some losses lately. But there is this other side of the coin where the dopamine is not so good for traders and it's causing impulsive behavior. You start showing impulsive behavior when you place too much value on immediate pleasure and not enough on long term consequences.
[00:16:14.570]
You probably have heard many traders talking about you have to focus on your process, you have to focus on the long term goals because otherwise you will be just chasing money. Desired dopamine overpowers the more rational parts of your brain. So we make choices that we know are not in our best interest, but then we feel powerless to resist. Speaking of the dopamine rush, the dopamine rush that you get from quick profits or unexpected profits that can lead to impulsive trading decisions. So you might start chasing trends or just completely throw your plan out the window and as a result lose a lot of money.
[00:17:10.570]
While dopamine can give you confidence, it can also give you overconfidence. Because if you have experienced recent successes, now you start to underestimate risk and you take larger positions than you should and you are risking substantial losses. Dopamine can also amplify the fear of losses and making traders reluctant to cut their losses. So you start holding your positions for longer than you should, hoping that it will turn around, leading to further losses. You maybe recall the situation if that happened ever to you, maybe it never happened to you.
[00:17:56.200]
I know it did happen to me and I would tell myself the story that it's going to come back. And not only that, the dopamine really helped me to make the story that I will even make a profit. Sometimes I would tell myself, you know what, if I add an average down, then when it turns around, I will make more money than I was originally intending. It basically makes you trade emotionally. You get the rush from quick profits, make impulsive trading decisions, and just completely lose track of any analysis and just click the buttons.
[00:18:39.190]
Now the emotional highs and lows that are associated with dopamine can totally cloud your judgment. And if you trade emotionally, you know what happens. Your performance is simply inconsistent. And if you have inconsistent performance, how can you expect consistent results, right? So begin with building awareness around your dopamine driven behavior.
[00:19:10.210]
Look at the situations that bring you in trouble and see if this was caused by you trying to think about a rosy future, how this trade, if you get in, is going to work out and give you big profit. Start noticing your emotional state when trading. So if you feel overly excited or anxious, that's when you can recognize that dopamine may be influencing your decisions. Take breaks. Try to regain rational perspective.
[00:19:51.010]
Just make for yourself a reminder that when you feel overconfident overexcited, just think dopamine I need to get back into the present moment, into the now. And you can do it your way. You can just close your eyes, maybe take few deep breaths, or simply take a walk. Make sure that you start writing down in your trading journal your decision. So just keep track of what made you to make a certain decision.
[00:20:24.190]
So if you have decided to get out earlier out of a trade, what made you do that? If it was getting into a trade too early, before you got your confirmation or your signal, what was your emotional state then? And start looking for patterns of impulsive and overconfident behavior that may be linked to Dopamine release. So remember this if you feel excited while you're trading, you're looking at the setup and all you can think of is potential profit. You might be now telling yourself the story that you rather talk yourself out of.
[00:21:10.700]
Notice the narrative in your head. Write it down. Make sure that you recognize are you acting out of Dopamine or are you acting out of here and now chemicals. As you see, Dopamine's role in trading is pretty complex and the Dopamine rush has both positive and negative aspects. And it is up to you whether you will make it your friend or enemy, because it depends on how you will manage and channel it.
[00:21:42.930]
Thank you for listening to the Confidence in Trading podcast. If you are enjoying my show and the topics I share here resonate with you, I would like to ask you to leave a review on Apple podcast and don't forget to hit that subscribe button as well so you can come back for the next episode. Your journey to becoming a confident trader is incredibly exciting and important to me and I am here to support you every step of the way. If you are interested in gathering more insights in trading psychology, be sure to visit aheadcoach.com and very soon I will be teaching Live Mindset Masterclass for Traders so you will be able to sign up for free. So connect with me on Twitter or Facebook.
[00:22:36.600]
You will find the links in the description under this episode and I really hope to seeing you there. I am Agnieszka Wood from Ahead Coach and I look forward to seeing you in the next episode. Bye for now.
____________________________________
✉ Contact me: [email protected]
____________________________________
▶️ My website: https://www.aheadcoach.com/
▶️ Twitter: https://twitter.com/Ahead_Coach
▶️ Facebook: https://www.facebook.com/agnieszkawoodpage/
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In this episode of the Confidence in Trading podcast, host Agnieszka Wood explores the intricate relationship between emotions and trading decisions, shedding light on the high failure rate among traders and the unique challenges faced by male traders. She discusses how societal norms and traditional masculinity often leads to difficulty in navigating the challenges of controlling emotions in trading.
Agnieszka offers insights into the impact of emotional suppression, coping mechanisms, and the importance of recognizing and addressing emotions for improved trading performance and emotional well-being. She highlights the need for emotional support and encourages male traders to break free from societal expectations and embrace emotional fluency for better trading outcomes.
About Agnieszka Wood
Founder and CEO of Ahead Coach, Trading Mindset Coach
Agnieszka Wood, is a passionate and accomplished day trader with over a decade of hands-on experience in the financial markets. Coming originally from Poland but having spent most of her life abroad, notably in the Netherlands and the United States, Agnieszka brings a diverse perspective to her work. Her journey is marked by conquering challenges, a deep passion for self-development, a commitment to unlocking her full potential, and a relentless pursuit of excellence.
Since 2019, Agnieszka has taken on the role of Founder and CEO of Ahead Coach, a coaching platform where she conducts her transformative work as a Trading Mindset Coach. Through Ahead Coach, she offers coaching programs for traders that draw on her extensive 20+ year background in Neuro Linguistic Programming (NLP), life coaching and her own experience in trading. Her holistic approach is designed to empower individuals not only in their trading endeavors but also in all aspects of life.
Agnieszka's influence extends beyond her coaching practice. She is a respected speaker at various trading events, where she shares her insights and knowledge with fellow traders and enthusiasts. In the trading education industry, she is known for her expertise in mindset coaching, helping traders overcome psychological barriers and build consistency.
Passionate about guiding individuals towards tangible results, Agnieszka thrives on taking on new initiatives and projects that promote personal growth. Her multifaceted expertise, unwavering dedication, and holistic approach make her a trusted coach for those seeking transformation and success.
—
Contact Agnieszka Wood | Ahead Coach:
Website: aheadcoach.comTwitter: @Ahead_CoachYouTube: @aheadcoachFacebook: Agnieszka WoodInstagram: ahead.coachLinkedIn: Agnieszka Wood—
Transcript:
[00:00:08] - Agnieszka
Welcome to another episode of the Confidence in Trading podcast. I am your host, Agnieszka Wood, and I am absolutely thrilled to have you with us today. Today is episode number 15, and if you have been listening to my podcast, you are probably wondering who is my next guest. So I've got a little surprise for you. After hosting 14 wonderful guests and having incredibly inspiring conversations with them, I decided to shake things up a little bit and do something different, partly because I am a trader and I got so used to getting regularly shaken up by the market that I just felt the need to change something.
[00:00:56] - Agnieszka
But also, I have a strong dopaminergic personality and I get very easily bored. So I am constantly looking for new experiences. And if you wonder what a dopaminergic personality is and how dopamine that powerful brain chemical might be affecting your trading behavior, then you absolutely must subscribe to my show. The upcoming episode is poised to blow your mind as I will be exploring the intricate relationship between dopamine and your trading decisions. And before we dive into today's discussion, I want to make sure that you are aware of a fantastic resource that I've prepared for you.
[00:01:41] - Agnieszka
If you head to confidenceintrading.com, you can access a complimentary copy of my comprehensive guide, Ten Easy Ways to Improve the Consistency in Your Trading. It's jam packed with actionable strategies and insights that can help elevate your trading game to new heights. All right, so today is just between you and me, your exclusive conversation with a Trading Mindset Coach. And in today's episode, we are going to dive headfirst into a topic that has the power to disrupt even the most level headed of individuals. Drumroll, please.
[00:02:29] - Agnieszka
Emotions. Yes, those unpredictable and often unruly forces that can send shivers down the spine of traders worldwide. In the trading realm, they are often viewed as the elusive boogeyman lurking in the shadows, ready to pounce when least expected. Emotions. Whether you are a seasoned pro or just starting on this roller coaster ride, emotions are a constant companion.
[00:03:00] - Agnieszka
And today I am going to peel back the layer that nobody looked under before. So grab your favorite cup of coffee and fasten your seatbelt, because we are shaking things up. Today, we are embarking on a journey of self discovery, empathy and growth. And I am thrilled to have you along for the ride. It's common knowledge that the failure rate among traders is critically high.
[00:03:28] - Agnieszka
To put it all into perspective, consider this according to the latest data provided by the US. Bureau of Labor Statistics, approximately 20.8% of private sector businesses in the United States falter and fade within their very first year of existence. It's a harsh environment for entrepreneurs, to say the least. Now, in trading, particularly day trading here, the stats paint an even more daunting picture. And I really hope that these numbers are not surprising to those of you who are just at the beginning of your trading career.
[00:04:07] - Agnieszka
After all, you need to know what you are getting into. So various studies and industry observations show somewhere between 80% to 90% of day traders ultimately throw in the towel within their maiden year. Five years down the line, while over 50% of businesses are still standing, only a meager 7% of day traders persevere. To put it bluntly, if you are a day trader, it can sometimes feel like participating in Hunger Games, a relentless high stakes battle where the odds are stacked against you. Interestingly, the majority of those who undertake this grueling journey are men, making up approximately 85% of all traders.
[00:05:01] - Agnieszka
Female traders tend to emerge as unsung heroes of this arena. Over time, they often outperform their male counterparts. Why? Well, it appears that part of the credit for this goes to women's remarkable ability to keep their egos in check, relegating them to the background, and allowing for a greater degree of self control in their trading decisions. Isn't it intriguing how the most tricky aspects of trading emotions and masculinity are often intertwined in a delicate dance of complexity?
[00:05:44] - Agnieszka
And today, we will be turning our focus squarely onto the 85% of traders who are men and explore the unique challenge they face and, most importantly, how they can tip the scales in their favor in this high stakes arena of trading. So let's talk about emotions. Controlling emotions in trading, particularly in day trading, stands as perhaps the single most intimidating challenge most traders encounter in their trading journey towards their success. It's a relentless battle, one that tests the strength of character of even the most seasoned traders. And as if that weren't intriguing enough, emotions also play a role in the realm of masculinity, presenting a unique challenge for many men.
[00:06:39] - Agnieszka
Do you know what the challenge is? The challenge of expressing those emotions. This leads us to a compelling question. Is it possible to effectively navigate through the turbulence of emotions if one doesn't dare to look them in the eye? Picture this.
[00:07:00] - Agnieszka
You are trying to move past something, but it's hidden in the shadows, obscured from view. It's like navigating a dimly lit room, and it's only a matter of time before you stumble over the very thing you can't see. So that makes me wonder if there is a close relationship between the challenges of controlling the emotions in trading and the challenges of emotional expression. And that's the reason why I wanted to focus today on just men traders. Because the difficulty of expressing emotions is especially true for men, it's crucial to acknowledge that when it comes to emotions, there is a universal truth that transcends gender boundaries.
[00:07:52] - Agnieszka
Emotions are an inherent part of the human experience, and every individual, regardless of gender, possesses the capacity to feel and express them. Men and women are born with remarkably similar emotional landscapes, filled with the full spectrum of feelings. Yet here lies the conundrum as boys matured into adulthood. Many societies have long adhered to traditional norms that at times discourage emotional fluency, particularly when it comes to so-called softer emotions such as sadness or fear. This societal pressure can stifle the open expression of vulnerability, creating a cultural environment where emotions are constrained.
[00:08:50] - Agnieszka
Phrases like "act like a man" or "don't cry like a girl" have echoed through generations and shaped the way men perceive and express their emotions. The implications of this emotional suppression reach far and wide, affecting not just individuals, but entire systems within our society. Families, politics, workplaces they all bear the imprint of these expectations. As boys grow into men carrying these societal norms, they often find themselves disconnected from their emotional core. They may struggle to define their true self-identity, refrain from seeking help when needed, and experience emotional blockages that deny them permission to feel and express their innermost emotions.
[00:09:51] - Agnieszka
The pressure to act tough and manly conforming to the standards of traditional masculinity, even though it might not seem like a big deal, has a big impact on many people's lives. This is a complex issue that impacts men's emotional well being and their journey in the world of trading. This pressure can make it feel shameful for men to show vulnerability, ask for help, or seek emotional support. Some men fear that expressing their emotions will make them appear weak or less masculine in the eyes of others. That could be the reason why most trading chat rooms are not exactly the place where you will find a lot of emotional sharing and as a result, not much emotional support either.
[00:10:43] - Agnieszka
For example, you might fear that sharing your emotions or asking for help will lead to being rejected or even laughed at. Just think about it. When you are struggling with a losing streak, you are probably feeling overwhelmed and stressed about your financial situation, but you are not very keen on sharing it with anyone. You probably don't have many friends that understand much about trading. And your family always say you're gambling when you even say one word about the market.
[00:11:15] - Agnieszka
So logically, you are trying to deal with a situation on your own. Not to mention the fact that often your losses are a result of you breaking the rules and you simply feel ashamed to talk about it to anyone. You worry that others might think you are a loser. Eventually, your stress level is compounding and interfering with your ability to make rational decisions. Sometimes not being able to express your emotions might be just a matter of practice.
[00:11:48] - Agnieszka
If you have grown up in a family with no opportunity to express your emotions freely, you may simply have difficulty not just communicating your feelings, but even identifying what you feel. In the world of trading, there is often a prevailing belief that emotions should be completely eradicated from the equation. Many traders buy into the notion that to succeed, they must become emotionless machines, unaffected by the highs and lows of the market. This mindset can lead them to avoid acknowledging or even identifying their emotions altogether. And because they strive to push their emotions aside, believing that doing so is the key to making rational, unemotional decisions.
[00:12:39] - Agnieszka
They don't even notice that they have an expression issue. Many times, people develop alternative coping mechanisms for dealing with emotions. For example, some people use humor when traders feel pressured to suppress or ignore their emotions. They also develop alternative coping mechanisms to navigate the emotional roller coaster. These mechanisms can take various forms, from over-trading in an attempt to numb emotional discomfort with constant action, to turning to external distractions or even substance use as a temporary escape.
[00:13:16] - Agnieszka
These coping strategies may offer brief comfort, but rarely provide lasting solutions. In fact, they can compound the emotional challenges over time and potentially lead to more impulsive decisions and more trading losses. Another way to handle emotions is simply pretend you don't have them, rather than directly expressing what you feel. The only thing with pretending is that it doesn't make the feelings go away. In fact, it can actually intensify them.
[00:13:51] - Agnieszka
A classic example of this is anger. Many people believe that it is better to temp down anger than express it. It is true that we need to control our emotions to some extent for our everyday interactions. Just imagine for a moment a world where every time we experience anger, frustration or irritation, we immediately acted upon these emotions without any restraint. It is not very hard to envision the chaos and the discord that would follow, right?
[00:14:24] - Agnieszka
In this sense, temporary suppression of our immediate reactions is not only beneficial, but often essential for maintaining social harmony. However, here is where things get intriguing. When we simply suppress our emotions in the moment, but fail to revisit and process them later, we unintentionally engage in a form of emotional suppression. It's like putting a lid on a boiling pot without ever allowing the steam to escape. Over time, this emotional pressure can build up much like a pressure cooker, ready to release its accumulated steam explosively.
[00:15:09] - Agnieszka
Have you ever found yourself suddenly exploding in anger or frustration with seemingly no apparent reason or trigger? This experience is not uncommon, and it often stems from the buildup of suppressed emotions. It's as if those emotions have been lurking beneath the surface, waiting for the slightest provocation to erupt. But here's the kicker. Suppressing your emotions doesn't just impact your immediate social interactions.
[00:15:40] - Agnieszka
It can also have a profound effect on your internal well being. Did you know that it can contribute to increased stress levels? Stress, as many of us are well aware, is a silent and pervasive force that can significantly affect various aspects of our lives, including our performance in high pressure environments like trading. Now, let's tie it all back to our main focus trading. Could it be that unaddressed emotional suppression is lurking beneath the surface, quietly adding to the stress and challenges you encounter during trading?
[00:16:25] - Agnieszka
And if so, isn't it essential to recognize that understanding emotions, processing and effectively managing them should be your main focus as a trader? Suppressing emotions isn't just an abstract concept. It also has tangible physiological effects on our bodies. While short term suppression typically doesn't cause lasting problems, it's something you can certainly feel if you have ever treated yourself to a deep tissue massage. Stress, often a result of emotional suppression, can tighten your muscles, leaving you feeling physically tense and knotted.
[00:17:10] - Agnieszka
But the real concern comes when emotional suppression becomes a long term habit. Remember, unexpressed emotions don't simply vanish, they linger within your body. They are like uninvited guests that are staying longer than welcome. And over time, they can manifest as damaging physical and psychological effects. Some traders, for example, find themselves struggling with anxiety, depression and other stress related illnesses.
[00:17:45] - Agnieszka
In some cases, suppression can even pave the way to addiction, as people turn to substances or harmful behaviors as a means to cope with the emotional anxiety they avoid facing. Did you know that statistically, men are more prone to substance addiction than women? Could that be related to emotional suppression that is more common among men than women? Before we move on, I want to clarify one crucial point here. Suppressing emotions is not a form of control or management.
[00:18:25] - Agnieszka
It's more like pushing those emotions away, hiding them deep within our subconscious, and operating in a state of denial and unawareness. It's a practice that keeps us emotionally unconscious. Now, for those among you who may believe in the idea of becoming a mechanical trader, one who completely eliminates emotions from the trading equation, let's pause for a second. Because even if you make changes to cut down on negative emotions, it won't eliminate your stress triggers. That means that if you have any suppressed emotions, you will still need to find a way to deal with them.
[00:19:12] - Agnieszka
So instead of striving to eliminate or to suppress emotions from your trading, I encourage you to consider a more effective approach. Emotions, after all, are a part of being human. They provide a zest, the passion and the joy in our lives. And they can be valuable allies in trading when put to use effectively. Rather than avoiding them, aim to use your emotions flexibly and intelligently in your trading journey.
[00:19:47] - Agnieszka
Consider this: what if the reason you struggle to control your emotions in trading is simply because you are not genuinely acknowledging them? What if the root of your trading challenges lies in your reluctance to admit what you're feeling? Keep in mind that you cannot manage or control something if you refuse to confront it or even look at it. So regardless of your upbringing and the baggage you may carry, isn't it worth the risk to embrace your emotions if it means improving your trading results? Emotions are the essence of our humanity, the vivid colors that paint the canvas of our life.
[00:20:39] - Agnieszka
Being emotional is neither a side of strength nor weakness. It's a natural aspect of human experience. They are signals between our brains and our bodies. Ignoring your emotions is like disregarding a vital system in your body. It's like ignoring the signals from your digestive system telling you it's time to eat.
[00:21:04] - Agnieszka
Imagine brushing aside your body's call for nourishment, for weeks, months or years. It's simply unthinkable, right? The point here is your emotional guidance system is as integral to your being as any other physiological system. It's not something to dismiss or ridicule. It's part of your humanity that deserves acknowledgment and understanding.
[00:21:34] - Agnieszka
And by allowing yourself to feel your emotions and extending compassion toward yourself, you will take a leap forward on your trading journey. Because you will realize that the only thing you are fighting with right now in your trading is yourself. Your own resistance. Just think about it. Most people choose to become a trader to achieve freedom.
[00:22:01] - Agnieszka
Many want to become independent from others, having nobody tell them what to do. Being your own boss, what if this has something to do with not wanting to be confronted with yourself? I don't know about you, but in my experience, when you engage with other people, they have the ability to somehow trigger emotions that usually don't get triggered. When I am on my own, does that ring a bell? Usually, other people are a very good mirror, reflecting your behavior that you don't really want to see from yourself and confront.
[00:22:41] - Agnieszka
And maybe you're thinking right now, no, that's definitely not me. Well, I invite you to just observe that resistance and see what is being triggered. But I get it. It could be scary to confront your feelings. After all, there was a reason to hide them in the first place.
[00:22:59] - Agnieszka
And most traders don't even want to hear that. They need to work on their mindset, let alone their emotions. Can you imagine a headline? If you want to become a successful trader, you first need to learn to talk about your emotions. There would not be a good advertising for the trading industry, and I bet this would make trading much less popular, especially among men.
[00:23:25] - Agnieszka
But the truth is, whether you want it or not, trading will force you to reconnect with your emotions. And your trading success depends on how soon you allow this process to happen. And for those of you who still may believe that emotions are somehow reserved for one gender, it's time to embrace the duality within all of us. Within each of us, there exists a spectrum of experiences. The positive and the negative, the feminine side and the masculine side.
[00:23:59] - Agnieszka
The yin and the yang. These dualities coexist within us, each complementing the other, creating a rich tapestry of human experience. You cannot fully understand how you can make rational decisions if you don't understand how you make the emotional ones. Remember, the path to grow often entails a challenging climb. But the view from the summit is worth every effort.
[00:24:29] - Agnieszka
When emotions shake you and throw you off balance, view it as an opportunity to strengthen your purpose and to refocus. Stay nonjudgmental toward what you feel. Stop calling yourself names when things get rough. And when you feel frustrated or angry about another loss or mistake. Just take notice of the emotion you feel.
[00:24:54] - Agnieszka
Pay attention to the actual sensation in your body, and instead of putting label on it, start writing your observations in a journal, right there in the heat of the moment. It will help you to understand what is happening within you. On a deeper level, it will take your focus away from reacting, and it will give you a chance to decide about your next step. There is no need to fear emotions. They are fleeting anyway, flowing through you like passing clouds.
[00:25:30] - Agnieszka
They are here to guide you, to help you grow. With every emotional experience, you stand at the crossroads. How will you choose to act? Will you react or respond? Emotions illuminate what truly matters to you and offer invaluable insights into your inner world.
[00:25:53] - Agnieszka
Embrace them. They are the compass that points the way on your journey of self discovery and trading mastery. Indeed, self awareness and care are your allies on the path to mastering your emotions. To truly harness the power of emotions in your trading journey, you must remain aware of their presence. When emotions arrive, don't shy away from them.
[00:26:21] - Agnieszka
Instead, greet them with curiosity and an open mind. Take a moment to study them. How do they make you feel? What messages do they carry? Emotions are like messages from your inner world, each one offering valuable insights into your thoughts, beliefs and triggers.
[00:26:43] - Agnieszka
It is essential to understand that you don't need to act on every emotion you experience. Emotions serve as signals, guiding you through the landscape of your internal world. Feel them, acknowledge them, and then allow them to pass like ripples on the surface of a lake. Mastery comes from a place of openness and acceptance, and I hope that you now feel inspired to dare to open yourself up to your emotions, to allow them to be for what they are, without judgment or resistance. Embrace the full spectrum of your emotional experience, and in doing so, you will find a new level of joy, resilience and clarity in your trading journey.
[00:27:34] - Agnieszka
So I want to offer you this as food for thought. Imagine your emotions as transactions in the market of your inner world. Just as you enter and exit a trade with precision, emotions enter and exit your consciousness. It's a dance of energy, a constant ebb and flow. Your emotions come and recede, much like the exhalation of a breath.
[00:28:02] - Agnieszka
The energy that once searched through you now retreats, creating space for reflection and decision making. And then, just like a new trade presenting itself, fresh emotion emerges. It's the cycle of trading, the heartbeat of your journey. The key to trading success lies in embracing this rhythm, in allowing your emotions to move freely within this cycle. To navigate the market with competence, you need to navigate your emotional landscape with skill and precision.
[00:28:41] - Agnieszka
Be present, be mindful, and let the emotional energy flow through you. Let it in and then release it. Let it go without clinging or resistance. Trust that the cycle will continue, just as the market always provides new opportunities. Remember, in the world of trading and emotions, you are the master of your inner market.
[00:29:07] - Agnieszka
Embrace the flow, trust the process, and let each emotion be a valuable transaction on your path to trading excellence.
[00:29:19] - Agnieszka
Thank you for listening to the Confidence in Trading podcast. If you are enjoying my show, if the insights I share here resonate with you, I would like to ask you for a small favor. Your feedback is invaluable to me and it helps me continue to deliver high quality content that empowers traders like yourself. So please take a moment to leave a review on Apple podcasts.
[00:29:43] - Agnieszka
Your review not only brightens my day, but also helps other traders discover the show. Don't forget to hit the subscribe button as well so you can come back for the next episode. Your journey to becoming a more confident and successful trader is very important to me, and I am here to support you every step of the way. If you are interested in gathering more insights in trading psychology, be sure to visit aheadcoach.com and check out my newest online course, Unlock Your Trading Mindset. This course is the first step for anyone who seek consistency and long term
results in trading.
[00:30:27] - Agnieszka
You will learn how to truly make a difference in your trading results. I am Agnieszka Wood from Ahead Coach, and I look forward to seeing you in the next episode. Bye for now.
____________________________________
✉ Contact me: [email protected]
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▶️ My website: https://www.aheadcoach.com/
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In this podcast episode, host Agnieszka Wood interviews Jermaine McGruder, known as The Strat Soldier, about the art of cutting losses in trading. Jermaine, a former army soldier with 20 years of experience, shares his journey in trading, emphasizing the importance of protecting capital and following a disciplined approach. He advises traders to focus on their setups, set proper stop losses, and prioritize capital protection. Jermaine also discusses the recent passing of Rob Smith, the creator of The Strat, and how he and the trading community are continuing his legacy by trading The Strat and sharing their knowledge with others. The episode provides different perspectives that traders can use to shift the way of experiencing the market.
Furthermore, Jermaine and Agnieszka delve into various aspects of trading, including the significance of recognizing trends, understanding price action, and analyzing multiple time frames. They stress the importance of discipline, following trading rules, and avoiding emotional reactions to losses. The conversation also touches on the challenges of trading. It provides valuable insights into the emotional and psychological aspects of trading, managing emotions and emphasize the importance of accountability and vulnerability.About Jermaine McGruder
Jermaine McGruder, also known as The Strat Soldier, is a passionate trader and experienced educator. Jermaine embarked on his journey with The STRAT in 2019 and quickly honed his skills, becoming adept at both trading and teaching this methodology. His guidance has empowered seasoned traders to curb significant losses and has equipped newcomers with the ability to identify buy and sell signals confidently.
Jermaine's teaching philosophy centers on enabling individuals to trade based on their convictions and take actionable signals without succumbing to significant losses. Drawing from his extensive 20-year military background, Jermaine brings a wealth of leadership and training experience to his teaching approach. Whether on the battlefield or in the world of trading, he excels in leading and educating individuals, making him a valuable asset in The STRAT community.
Contact Agnieszka Wood | Ahead Coach:
Website: aheadcoach.comTwitter: @Ahead_CoachYouTube: @aheadcoachFacebook: Agnieszka WoodInstagram: ahead.coachLinkedIn: Agnieszka WoodContact Jermaine McGruder:
Podcast: InForceThe Weekend Show: The Weekend ShiftTwitter: @Cyberdog2Website: http://TheStratSoldier.com—
Transcript
[00:00:02] - Agnieszka
I am Agnieszka Wood. Welcome to the Confidence in Trading podcast. Let me introduce my special guest on today's show, Jermaine McGruder, aka The Strat Soldier. You might recognize Jermaine from his very popular Strat webinar with Benzinga that has gained over 70,000 views, or his appearance on first trade show with Rohan Makhecka in June 2021. And if you are a podcast fan, you might know Jermaine from his show In Force, where he looks at the markets through the eyes of The Strat and his weekly Saturday show, The Weekend Shift. As you might have already figured out from his nickname, The Strat Soldier, Jermaine has been in the army for 20 years and has worked with hundreds of soldiers in various environments. And as he puts it, leading and training is what I do. I invited Jermaine to my show to talk about the one aspect of trading that hurts traders and their bottom line the most. Welcome to episode number 14, the Art of Cutting Losses. Hi, Jermaine. Welcome to my podcast, and thank you so much for making the time for joining me today.
[00:01:18] - Jermaine
Thanks for having me. Thank you so much, Agnieszka. This is awesome. This is really cool. I love meeting new people and also, of course, talking about The Strat and then the whole idea of cutting losses. Perfect idea. I love it. I love it.
[00:01:31] - Agnieszka
Fantastic. Jermaine, you have been trading The Strat since 2019, and you have been a leader at Sepia Group with Rob Smith since September 2021. May he rest in peace. His sudden departure must have been pretty hard for you, and I cannot even begin to imagine the impact on the trading community.
[00:01:51] - Jermaine
Yeah, it's been tough. It's been real tough. Rob was always a character. That's what we loved about Rob. So when are, you know, I'm not feeling well. I'm not doing this or that. We all were. You know, rob's going through his own little inside know to use some trading. You know, we're like, he's going inside bar right now. He's going to be okay, and he'll reverse back to the upside. He'll be fine. It was a little bit of a shock that he didn't pull through because he was such a character, so funny, and he always found a way to figure it out. So, yeah, very sad. But we are going to keep Rob alive by continuing to trade The Strat and continuing to do what he said to do, which is create those winning positions. Then after you understand what you're doing, show the next person. And that's been my motivation since the beginning of all of it, is to show other people how to not get killed in here and not blow out accounts, not all these things. 30 years on CBOE, you know what I mean? 30 years on the floor and doing what he does.
[00:03:02] - Jermaine
And it's amazing for him to just talk to regular people and teach regular people how to do I say regular people, but we're all regular people. I'm just saying to talk to an average person and say, okay, this is how stocks work. It was an amazing skill to learn, and I hope to keep passing it on to other people.
[00:03:23] - Agnieszka
That's amazing and really wonderful that you're passing on the legacy. And I really regret I never had a chance to meet him personally, but I've heard so much good about him and about his strategy. I actually interviewed few months ago, Ben Okopnik, who is also trading the strategy. That's how I actually heard about Rob. So, yeah, big loss. So you have been trading the Strat for a relatively short time, and you managed to become not only proficient in it, but also good at teaching it. Can you tell us a little bit more about your trading experience and what's your secret?
[00:04:05] - Jermaine
Oh, the secret is there are no secrets now.
[00:04:09] - Agnieszka
That's the best one.
[00:04:11] - Jermaine
That's the best one. The secret is just trading what's actually happening on the charts. And that can be difficult because you have to be able to tell yourself the truth. Like, you can draw as many lines on your charts as you want. You can have all the indicators and all the squawk boxes and community leaders and people telling you what you need to do, but you're still the one that has to hit the button, right? You're still the one that has to go, okay, we're going. This is my entry, this is my exit. This is what I'm going to do. And I think that's when trading kind of really clicks for most people when they go, okay, I know what everybody's saying, but what do I really see on the charts? I know what the news is saying, but what do I really see on the charts? What do I see really happening? Are they really buying it or are they really selling it? And some people don't know at all. Some people are like, Well, I don't know, how did you figure it out.
[00:05:12] - Agnieszka
In such a short time?
[00:05:13] - Jermaine
Yeah, I'm trying to get into that. When I first started trading back in 2019, way before the Strat, I was working with a buddy and I was like, man, I want to get into stocks. It sounds like something I'd want to do. And so he introduced me to Robinhood and he's like, yeah, it's easy. There's no account minimums. You just put your money in here, and then once you get your money in there, I'll show you how to start doing it. So he starts showing me how to find stocks, how to buy stocks, and I'm thinking, I'm doing pretty good, I'm doing all right. And for the first few months, I was doing really well. Of course, things were all trending to the highs, so I didn't realize how easy it really was. And then he starts talking about options because I'm like, well, I want to make more money. I'm doing pretty good. I want to make more. So he starts talking about options, and then that was a whole nother ballgame. That with only a few months experience, I shouldn't have been messing with. But I didn't know that at the time.
[00:06:08] - Jermaine
I just had my buddy saying, hey, this is how you do it.
[00:06:11] - Agnieszka
That's how you become millionaire in a short time.
[00:06:14] - Jermaine
Yeah, that's how you do it. Yeah, that's how you make millions. And then he showed me buying options into earnings reports. I'm like, okay, so that was not a good deal. That was not a good idea to do. But he told me, you know what I mean? So the one example I always talk about is Twitter. I bought all these calls into Twitter because Twitter has never missed an earnings. And this is all the way before, back in 2019. So I read all this yahoo news. I read all these articles. I read all this stuff. And so I buy calls because they never miss. Well, this is first quarter of 2020. Yeah, they missed last quarter. They missed big, and boom. And I lost half my account at that time, and honestly, it was around $500. But me being a brand new trader, that's a big deal. That's a huge deal for me. Wait a minute. Hold on a second. Now, this is not why I wanted to start trading. And so, you know what I mean? I had to deal with that with myself, and I had to deal with that with because I had to talk to my wife, too.
[00:07:23] - Jermaine
I'm like, I told you, I'm not getting in this to gamble. I'm not getting in to just throw away money. But this loss happened, and I stopped trading. I didn't quit. I just stopped, like, let me find a coach. Let me find somebody that can help me out. 2019. And that's when I found Rob in October of 2019. So I apologize for the timeline there, but that's when I found Rob, and I found some articles on Instagram talking about these scenarios. Scenario one, scenario two, scenario three. And this is how we know when to get in and when to get out. So I read his article. What do we know to be true about Price action? And that was a great article, and I learned more in that one article than all the YouTube videos I was watching about how to trade. And then that's when I joined his live room, and that's when, okay, things started clicking for me, because I knew when to get in, because Rob was helping. Of course rob's helping me. He's coaching me. But I got to a point where I started to know, okay, this is when I need to get in, and this is when the trade is not going well.
[00:08:25] - Jermaine
I need to get out. The system is telling me to cut it. Once I started knowing where to put my entries and where to put my stops, things started moving in the right direction, and then I started gaining confidence in my trading because I knew, like you said, when it started clicking for me is when I started trusting, okay, this is where my stop is at. And if it goes below this, I need to cut it. I need to get out, but if it sets back up, I can get right back in. But I'm protecting my capital. That was big for me, just protecting my capital. That's when it started clicking. You know what I mean? I don't need to throw a whole bunch on. I don't need to rush in the stuff. What are my actual setups? What is telling me to get in.
[00:09:18] - Agnieszka
Was that the impact of that first big loss which was a lucky loss in this case if the impact was I need to protect my capital because from experience, from my own experience. And also what I see from other traders, it's not that easy just to stick to your stop loss and actually even putting a stop loss right, because most traders think, how much am I going to make on it? And not so much I need to protect my capital in the first place. So how was that for you that you actually were so disciplined and you say, okay, I know I need to do it, and I'm just going to do it.
[00:09:53] - Jermaine
Yeah, the military definitely helps because there's a certain set of rules. Like, if you want to be effective in this, here's steps one through whatever this is. How one through five, for example, of a conversation. Here's the steps on how to do this event or how to be good at this training event. And you got to do it a certain way. And so when I sat down, I started, okay, what are my losses really coming in at? What's not working for me, and anytime it wasn't working for me is when I moved my stops down, not putting in a stop. And then another thing for me was knowing that options were not where I wouldn't needed to be at. Trading options was or is still a lot. It's not as easy as people say it is. And like you said, I've only been trading since 2019, and so I stick to common shares. And so the people that I work with, I tell them, stick to common shares. Why? Because you can put in a hard stop. I can put in a hard stop and go, okay, I'm taking this hammer on a weekly signal to the upside.
[00:11:02] - Jermaine
But here's where I'm getting out at. If it drops down too far and sometimes you get stopped out and you're like, I wish I would have stayed in because it went right back up the next day. But how many times have we also had experiences where you had no stop and it gapped way down, you know what I mean? Or you're shorting something and you had no stops, and it's gapping way up on you and you don't know.
[00:11:29] - Agnieszka
Yeah, you cannot trust the situation, what the market does. But the worst part, I think, in that is also when you don't have a stop and then it goes lower than your price and then your imaginary stop. Then the way you start talking to yourself and saying, yeah, but last time it did go back, so I'm just going to wait, right? Okay, it didn't happen today. Maybe tomorrow. And then before you know, you're just too late.
[00:11:56] - Jermaine
Yeah, you're too late. And you're just staring at it. It's like the deer in the headlights look. You're just do I when do I need to get in? When do I get out? Like, for example, today on Roku, I know we're not looking at charts, but today on Roku I got stopped out on Roku yesterday on a signal to the downside. I'm like, okay, I'm getting puts. And yesterday we all seen the market just kind of rally slowly back up on the 60 Minutes charts. And I'm like, what is this? And I got a job. I got a full time job, just like a lot of other traders. And I'm like, I got to get out, so I cut my losses. And then today this thing goes engulfing bar. Scenario three to the I'm trying really hard not to talk about Jargon, but.
[00:12:40] - Agnieszka
Scenario no, don't worry, this is for traders. So I assume that a lot of people who listening, they will understand what you're talking about.
[00:12:48] - Jermaine
Yeah, so they got this big engulfing bar on the day on Roku to the downside, and I didn't get back in. I'm working other then there's that situation again, I should have just held it. I should have just held through. So again, that's that discipline. Because I tell people, if you break your rules on this trade right now, you just take the trade. Because you know there's really not an entry. You're just taking it, or you're just going to jump in. I'm not putting any stops or you over leverage. You're just doing whatever you need to, and it's a winner. Okay, let's just say it's a winning trade, and we'll go with the positive side. First it's a winning trade, but then the next time you take a trade, you say to yourself, you automatically create that doubt. You go, okay, am I going to break my rules this time? Is this time going to be the time that works? This is where I'm supposed to get in at, and this is where I'm supposed to put my stops. But last time I just jumped in, so I just jump in and then it doesn't work.
[00:13:54] - Jermaine
Yeah, and now you have this cycle of trusting yourself, not trusting yourself, following your rules, not following your rules. I just got to the point where I was like, I'm putting my stops here. I'm going to trust the system, and if I have to get out, I will get out.
[00:14:09] - Agnieszka
That's so true, because it creates a ripple effect. Right. And I think a lot of people don't realize is that once you break the rule, it's not just this time you're breaking the rule. There is so much more that is going to happen afterwards, the internal dialog, and especially when you win that trade, right. Then it's just going to be more consequences than just this one that connected to this one trade directly. It will be much more. And I think that impact of that, that people are just not always aware or maybe don't want to think about.
[00:14:43] - Jermaine
Right. And it's hard to that's the temptation of, okay, well, I broke my rules, I made a lot of money. I broke my rules, now I lost a lot of money. So I just say, just follow your rules. Okay. You know what I mean? Because if you don't, that's when another conversation starts in your head is, okay, well, maybe this system is not working. Well, maybe I need to put in an RSI, or maybe I need to work on MACD, or maybe I need to get in before my two SMAs cross. Maybe if I get in before they cross, it'll just it never stops.
[00:15:21] - Agnieszka
Right?
[00:15:22] - Jermaine
It never stops. So then that came to the next thing is what Rob always talked about, and we talk about in the straddle, the time, what's actually happening, in the price, what's actually happening. Are they actually buying it or are they actually selling it? And to do that, we look at four different time frames. We look at the month, the week, the daily, and the 60. I'm going to say that a little slower because I say it all the time, but we look at the monthly chart, the weekly chart, the daily chart, and the 60 minutes chart, and we gage participants by price and time. So we're looking at all these time frames as like a multi analysis on these time frames to go. Okay, for example, right now, spy. I'm looking at a chart of spy, and it's inside on the month, and it's red. We look at the week, it's trading below last week's lows. It's two down. We call that scenario two down on the week. Two two continuation down. There's more selling happening on the week, which was reconfirming what we're seeing on the month that they're selling. And then on my daily chart, in my 60 minutes charts, it's red, they're selling it.
[00:16:32] - Agnieszka
Right.
[00:16:32] - Jermaine
Okay. So I don't need to be getting in here and going, maybe it's time to buy.
[00:16:38] - Agnieszka
Yeah. They say that when the blood is on the street, I need to buy.
[00:16:41] - Jermaine
Yeah, exactly. Buy. When everybody is afraid. Yeah. So then you buy. And I talked to a trade about this yesterday. Again, I'm looking at my charts. I talked about a trader yesterday because I was frustrated. There's a couple of traders that are frustrated. They were like, okay, well, we had a reversal on the 60 Minutes charts, but we still made a lower low and we made another lower low today we got all the way down to 445 on the 60 minutes charts. And that can be very I'm going to say annoying. But again, that's where our stops come in at. Because if I have that hard stop and I can say if things go wrong, I'm out, right? I'm getting out. And if you're good at options or you're good at shorting stocks, then you can say, okay, this is where I'm going to short stuff. But this whole week has been just like a yoyo effect. It's been going up, going up, it's been going down, going up. We had Fed talk, we had Energies, we got all kinds of weird stuff going. Post consumer price index and then PPI, a production price index.
[00:17:51] - Jermaine
People always say CPI, PPI. They never know what it means.
[00:17:55] - Agnieszka
Sorry, I guess I'm so used to using acronyms.
[00:17:59] - Jermaine
No, that's great. I I love, love it. It and I tell people all the time, we don't trade the news, we trade the price. So they could say inflation, it's going terrible. Inflation is still going on the highs. Everything costs more. Producing things cost more and things go to the lows. We've also seen these reports come out and the market goes, yes, we know. And it goes back to the highs anyway, right? What is the price actually doing? Is it green or is it red? Red means sell, green means buy. And I know that's a really simple way of saying it, but once I started putting that stuff together, then things clicked. Then things were going I was looking at my trades different, going, okay, I got in here. Are they buying it right now? Are they still buying it? Do I need to push my stop up? Do I need to figure out a way to get out of this?
[00:18:55] - Agnieszka
Right? Yeah. The bottom line is that you have to act on what is happening and not what you're wishing that would happen.
[00:19:04] - Jermaine
Yes.
[00:19:05] - Agnieszka
Because trading, let's be fair, it is based a lot on our dreams, on our hopes, on what we want. And it's just so very easy to fall into the trap that if things are not exactly going the way you want it, that you are trying to control it and bend the reality to what just feels much better for you and that you keep that hope. Right. It's very normal. What we also do in our daily life, we try to control things in market. We just simply cannot. The only thing we need to try to control at least is ourselves and what we do. And when you have a system that you know it works and you can trust, then you don't have to even control the system. It's just you. That's the most difficult part.
[00:19:52] - Jermaine
Yes. And as I've been trading the strat and learning other systems along with that, you can do that same type of that you can have that same mentality. You should have that same mentality using indicators because you definitely want the price and the indicator to be going in the same direction. You want the indicator to be reconfirming. Yes, we're going to the highs, right? Yes, I need to stay in this thing, even the whole RSI overbought and oversold thing, you know what I mean? You still want the price and the direction of your indicator to reconfirm each other. Because once you start talking about divergences and I'm going to short it, when this thing is at the highs without any signals and it keeps going to the highs, you're not acknowledging that, yes, they're selling it right now, you know what I mean? And like I said, I want to say heartache. I don't know if that's the right word, but that's been the frustration and frustration on trading in the last couple of days. Last few days of this week, anyway, because the price is just gapping up and gapping down and then just kind of moving in a direction that's hard to stay in.
[00:21:05] - Jermaine
And you could ignore the price, stay in your position and go, it's not telling me to get out yet, but you have to know your system.
[00:21:14] - Agnieszka
Exactly. And I appreciate that you're actually acknowledging sometimes it's just hard to trade and to look what this price is doing and try to figure it out, what it's going to do, right? Because the indicators sometimes, okay, the stock is overbought or oversold, and now you're saying to yourself, yeah, it should come down, right? So let me short it. It should come down. It's enough. It went up so much. Now I think it should come down and then you start fighting the trend. So it's just not always or most of the time not what we think. Because we have wishful thinking a lot of times.
[00:22:01] - Jermaine
Yes. I was talking to some traders, and I guess we're all talking about Nvidia. I think Nvidia is a good example of what you're saying because once Nvidia had that great earnings and everybody can go look at your charts at home around June 14, no, around May 26. We got May 30. May 30. It got all up to 420. It got all up to 420 and it was like, there's no way it can go any higher. This is it. It's at all time highs, it can't go any higher. So people are like, well, I'm going to short it now. And I'm like, well, don't do that without actionable signals, you know what I mean? You want to know like a shooting star, we call them shooters or reversal on a daily time frame or weekly time frame that lets you know this is going down. And you did have a reversal from May 26 to may 30. Let me see here. Let me say that, right? May 30 and May 31, you had a reversal to the downside. It went all the way down to 378. I'm sure these people are like, yes. Told you.
[00:23:09] - Jermaine
See, start shortening it's over, right? Yeah, I was right. It did good. And that is true. It did do great. But then the very next day went right back up and you had a reversal right back up and it got all the way back up to 401. So now you're thinking, okay, I started shorting this thing below 400. It went all the way down to 378. I didn't take any profits. The very next day it gets all the way back up to 400. You have to look at it and go, what is it really doing? They're buying. And then you're like, well, my indicator is still saying it's overbought. It has to come back down. And to hold through all that pain and frustration and doubt, it's really hard. I'd rather you take your profits on that one trade, take a victory awesome and just cut it and then move on. And if it sets back up again and starts moving down again, then you can get back in. But now Nvidia got all the way back up to 483. There's a trader, I'm sure there are some traders out there that says, I'm just going to keep shorting it no matter what.
[00:24:18] - Jermaine
I know it's going to the highs, but it's overbought. I'm just going to keep shorting it. And have they been holding since 390 all the way up back up to 482?
[00:24:27] - Agnieszka
I hope not.
[00:24:29] - Jermaine
And now it's at 429. They're hoping that they get their money back.
[00:24:33] - Agnieszka
Yeah.
[00:24:36] - Jermaine
I always speak to the average person as well on these trades because you got to know, I tell people like, you're not Kathy Wood, you can't just keep averaging down on your stuff. Nothing against Kathy Woods, but you can't keep averaging down on your trades until it means nothing. Like, I don't have that type of capital and some other people don't either. But some people do and they can keep doing that. But I'm like only losers, average losers. So if you just keep averaging down thinking it's going to go to zero, I'd rather you just cut this trade. It went well. I didn't take profits. It's going back up. I'm acknowledging what the price is doing and I need to get out of this thing because that's also going to give you confidence as well when you have a winning position. I got in here, it went exactly where I said it was going to go. I need to move my stops toward the direction of the price, and I want to hold my winners keeps going in the direction I want it to go, but I'm going to push my stops up toward the price so that if it starts going the other way, I take some profits.
[00:25:45] - Agnieszka
Exactly. And it's a very simple principle. If you want to be a winner, stick to the winners, right. Stick to the people that represent who you want to be and where you want to get to. So sticking to the loser is never a really good idea if you want to be successful.
[00:26:00] - Jermaine
Trader yeah, here's a good analogy, analogy I have on trading. Let's just say you want to have five winning positions. Five winning positions. And here's my entries, 12345. They're in there and so far they're going great. And it's kind of like inviting people over for a party. You got five people come over, you got the drinks, you got the music, you got the right atmosphere, everybody's having a good time. And then all of a sudden two of these guests start having they started having a little argument about, I don't know, maybe the music. They don't like the music because this artist has politics. Sale I'm not going to talk politics here, but they start having a conversation. They're not having a good time. Now these two guests have an attitude now and they're kind of bringing down the mood of the party. They're not dancing now. They're like now they're complaining about the drinks, they're complaining about the food and let's just say the party. But the other three guests, they're having a great time. They're engaging, they're telling jokes, they're having fun. And let's say by the end of the night, you're like, I have a house big enough, everybody gets their own room.
[00:27:15] - Jermaine
We're going to spend the night. Are you going to let these other two people that are not having a good time spend the night?
[00:27:21] - Agnieszka
It's such a great metaphor.
[00:27:25] - Jermaine
How much confidence that you have that they're just going to sleep it off and in the morning they're going to do better. So you let everybody spend the night. Everybody's got their own separate rooms. They spend the night, all the blankets, everything's great, temperatures are great. They wake up in the next morning and you're hoping that these two come out of their rooms having a good time. You know what I mean? They're happy. They got over whatever was going on, and you feed them pancakes and everything is great. But in reality, what's probably going to happen is the three people that are having a good time, they're going to come out and continue to have good breakfast and then have a good day. And the other two are going to be worse. They're going to be worse than they were before. That's a metaphor I use for trading. Like, I got three positions, I got five positions. They're doing great. Three are winners. Two of them are going red, okay? Two of them are red. And I'm looking at the charts and there's no evidence that I need to be holding these positions. I need to cut them because if you let them stay at the party long enough, they're.
[00:28:27] - Jermaine
Going to ruin the profits that you're gaining from these other three trades. Yes. And what a lot of people do is they'll say, okay, well, these three trades, they're doing great. I'm going to go ahead and take profits on these three. They were great. And then I'm going to hold these losers, and hopefully they'll come back. All right, go back to the analogy here. The three people that were having fun, they were dancing. You got to a certain part of the party, you're like, okay, guys, have a good night. You guys can leave. And then the other two that are having a bad time, you guys can spend the night, and hopefully tomorrow you'll have a good right. I'll make breakfast, we'll go to the movies. It'll be fun.
[00:29:09] - Agnieszka
No, it's not going to happen. And you have to put so much more energy into it, which would, in trading, it would translate. Most likely, you would come up with this idea, I'm just going to add to it. Right? I will put just more capital into it so I can average down, make things better. They never become better.
[00:29:27] - Jermaine
No. Yeah. Now, your guests that spent the night, they complained that you put too many blankets on them. That the music that you put on for them to sleep, too, they weren't really into it. And then the breakfast that you made for them is terrible.
[00:29:40] - Agnieszka
Yeah. And I remember years ago, what I used to do, I was lying to myself that, you know what? Maybe I just get rid of one, then the other one will come around. So I would sell half of my losing position and then kept the other half, hoping that when it comes down even more, I had those strategies all thought out in my head. When it would come down even lower, then I can add back the half I'm selling now, and then this will become profitable. No, because I was taking on that half. The loss, that was like, twice as much than the original loss. It was just once you start, it just never ends. Just gets worse.
[00:30:19] - Jermaine
Yes, it does just get worse, I would say. But I also say it starts the cycle. When it does work, sometimes when you're like, okay, I'll sell half. And then you get an actual signal, and it goes back up, and you're like, then you buy, and it does work. So you're like, okay, well, this worked.
[00:30:37] - Agnieszka
All right, this worked. I'm just going to start averaging down.
[00:30:40] - Jermaine
What I'm doing now. But then when it doesn't work, you're just like, oh, my goodness. At the beginning of the year, the beginning of the year, you look at Spy, it was really tough. Everybody's like, I'm going to keep shorting the market. I'm just going to keep shortening it. But we just kept creeping back up. Right. And then actually, from November of 2022 to March of was just trading sideways. If you look at the monthly chart, just trading sideways. So nobody knew what to do. Everybody's just like, what are we doing here? And that's in the strat. We were just like, okay, until we get a reversal on, we're going to go for the things that are taken out last month's highs. We're going to go where the buyers are. When Spy was red, we were like, okay, let's look at things are taking out yesterday's lows or last month's lows. Let's short those and to try to stay with the trend. You know what I mean? Always acknowledge what the trend is actually doing. But then April comes in. We actually get a reversal back up on Spy above March's highs. Two two reversal back up.
[00:31:52] - Jermaine
We call that two two reversal back up. It's been going well since then. And we used AI to say, yes, this is why we're buying. Because of AI. I don't think it's because of AI. The institutional buyers got sick of the downside. They got sick of, we need to pick a direction. And they chose. And things started going to the highs.
[00:32:14] - Agnieszka
The new buzzword, AI. Like, whoever drops AI, the stock pops.
[00:32:22] - Jermaine
This podcast uses AI and 10,000 more viewers for you.
[00:32:29] - Agnieszka
It's so funny because I saw this also in earnings, like conference calls, everyone drops the word AI.
[00:32:37] - Jermaine
Wow.
[00:32:38] - Agnieszka
Oh, my God. This is going to be the next big thing.
[00:32:41] - Jermaine
Kroger, the grocery store. Kroger was talking about AI. And you're just like, what? I hope there's not AI picking my groceries out for me or whatever they're talking about. It's crazy. So what I'm saying with all of that is you have to be able to acknowledge the trend no matter what trading system you're using. I use time frames. I look at the month, the week, the daily, and the 60. And I'm looking at, okay, where the buyers are. Where is this price actually going? For a person that uses indicators, you have to be able to look at it and go, okay, what's the actual trend? I know what my indicator says, but what's the price actually doing? Like, for example, right now, SPY starting to reverse back up to the highs after a lot of selling this morning. Okay, I don't know if you've talked about prices on your show, so I don't want to confuse anybody.
[00:33:34] - Agnieszka
It doesn't matter. Okay, now we do.
[00:33:37] - Jermaine
So the price got taken all the way down to 454 nine. And now currently, did it hit 50 day?
[00:33:46] - Agnieszka
No.
[00:33:47] - Jermaine
Well, I'd have to turn on the 50 day to see that, but it's definitely below the 14. SMA. I kind of looked at that stuff before the show just to give you guys that do. Look at that. Some indication of what's going on with the price. But everything went low. Everything went to the lows for the first 2 hours, and now it's reversing back up. So again, that's a situation where you go, okay, what's the trend actually doing? I bought these puts. I started shorting the stock, and it went great for the first 2 hours. But what's it doing right now, right now in this moment, it's starting to reverse back up to the highs. So if I had a winning position, I need to push my stops toward the price, and I need to figure out a way to get out so I don't lose that profit. And then on the other side of that is if I was shorting something and I'm not taking profits and I haven't taken profits, and I'm not moving my stops, you need to acknowledge, okay, this is what the trend is actually doing. What evidence do you have that the trend is continuing to go down?
[00:34:50] - Jermaine
You know what I mean?
[00:34:51] - Agnieszka
Yeah. And from what you're saying, I assume and I actually haven't asked, which probably I should have is you swing trade, not day trade?
[00:35:01] - Jermaine
Yes, I'm a swing trader. I have a full time job. I tell people all the time. I have a wife. I have kids. I have a cat. I have two cats. Now, like, I'm busy. I don't have time to look at the charts all the time. But when I do, like today, when I do have time to sit in front of the charts, that's when, okay, you can look at everything that way. You can look at options and things like that if that's what you do. But I am a swing trader. I want to get into a winning position, and I want to stay in that position as long as possible. So I do want to look at those weekly time frames. I like to trade weekly and monthly time frames, and hopefully I get into a position where it continues to go up. And then through the days and through the weeks, I can just keep pushing my stops up, my stop market orders up on my common shares until I get stopped out, because how many times as well you're like, okay, I'm going to go ahead and just take this position and I got a meeting in three minutes.
[00:36:03] - Jermaine
So then I go ahead and just buy this stuff, and you go to the meeting, and the meeting is like, meeting. Then you have a meeting after the meeting, and you're like, you can't look at your phone, because that's rude. You can't do that. And you get out of the meetings, and you're looking at this thing, you're like, what the heck? What is that?
[00:36:21] - Agnieszka
That was not the idea. I'm supposed to make money.
[00:36:24] - Jermaine
Exactly. So that's why I like those hard stops. Again, I use stop market sell orders just to get out. That way, if something silly happens, I'm out. I don't have to man, why didn't I do this?
[00:36:41] - Agnieszka
Yeah, I know. Do you check also throughout the day your positions at work?
[00:36:47] - Jermaine
Yes, I do. Again, that's the strat. We're always looking at the very next 60 minutes bar that opens up. The market opens at 930. So we're looking at 930, 10 30, 11 30, 12 30 at the bottom of the hour. Because we know that's when the next participation group comes in, we want to know, are they still buying or are they selling? Was it last week when AMD was just like, they are just buying AMD. And it went great for like three, maybe 4 hours, and then they said, okay, sell. And again, that's when we push our stops up and we go, okay, this is where I'm getting out at, you know what I mean? So, yes, I would rather swing trade again with those common shares and be in something and be great and have that confidence in, okay, now it's reversing to the lows. The trend is now reversing. I need to go ahead and push my stops up, and if it continues down, I'm out. I get stopped out in profit, and.
[00:37:42] - Agnieszka
I go do something else. Because if the price goes back to your buy price, or hopefully not, but I'm there. It's not just that you didn't make anything, okay? You can tell to yourself, I haven't had anything in the first place, but then everything was for nothing, and you're just frustrated. You lose your confidence in yourself, and it's like, why did I do that? And then the whole revenge trading dynamics comes in, right? Okay, then I'm just going to get in and try it again. So I would really recommend everyone to check the Strat because I know that there are day traders who actually have full time jobs. And swing trading is not something that a lot of day traders see as something sexy. For some reason. It's very different. But swing trading is good. You can make money swing trading.
[00:38:34] - Jermaine
Yeah, exactly. So again, looking at participation groups, okay, so again, I gage participants by price and time. So if I'm trading in the month, I got four weeks. That's why I like weekly trades. If this thing goes great for two weeks, maybe three weeks, of course I want it all month. But if I got two weeks that are great, and then it starts reversing the lows, that's two good weeks of trading, you know what I mean?
[00:38:59] - Agnieszka
Right.
[00:38:59] - Jermaine
So, like, well, that's too much. I want to go day trade. So now you have, what, 20 days of actual trading? And now you have 20 different bars to deal with, okay? And then they're like, well, people just keep reducing their time frames. And then all of a sudden they're like, well, I'm just going to trade 15 minutes bars. But now you have our ten minute bars. If you trade ten minute bars, that gives you, was it 39 different bars to deal with during the day, right? I ain't talking about the week yet. I'm talking about during the day. And that's a whole another participation group. Every time that next bar opens, they have to keep reconfirming the trend or your position, you know what I mean? If they're buying each next ten minute bar opens, they have to keep buying for your position to be going well. And you're like, once it starts going down, once it starts reversing down, you have to deal with that. You know what I mean?
[00:39:53] - Agnieszka
Yeah. And the lower the time frame, you open up much more to the dynamics of getting triggered and your emotions and being over trading and being triggered by those swings from up and down. Right? Because then your hopes, your fears, the greed, and everything just comes into play. When you swing trading, you don't see that, right? Especially if you just look at the 1 hour chart from time to time. It's very different.
[00:40:24] - Jermaine
Yes, it's very different.
[00:40:25] - Agnieszka
It also depends on your, I think, personality, because I day trade. I also have a swing trade account. But day trading is just something that I feel much more comfortable with. But I trade only until 11:00.
[00:40:41] - Jermaine
Okay.
[00:40:41] - Agnieszka
And then I closed my charts. That's why I didn't know if Spy actually reached it's.
[00:40:45] - Jermaine
Moving back up, leveled it's at 446. Right now. 446, 55. But no, I love it. That's great. But that's why I look at the 60 Minutes bars as well, and I tell day traders, you least want to know what's going on with the 60 Minutes bar, because 60 Minutes tells you, this is what's happening right now, right? Then look at your daily chart and go, okay, what's happening today? So in the strat, I always tell people, especially for day trading, you want to look at those 60s you want to look at the 60 Minutes bar, go, are they buying or they're selling? And then on the day, is it green or is it red? You know what I mean? Because that's going to let you know. So I tell day traders, look at the 60 Minutes charts. 60 Minutes charts, because that's telling you what's happening right now. And then the daily charts, what's happening today. If it's green on the day and green on the 60 Minutes bars and you want to go do something crazy on the 15 minutes, you have all the evidence that you need to go, okay, this will continue to the highs because they're buying it right now, and they're buying it today.
[00:41:50] - Jermaine
And then you can start working those smaller time frames if that's what you like. But for you to only look at one time frame and go ten minute charts is all I do. You are not seeing all the other you'll see all these crazy. You could look at it later on, you're like, yeah, this was the head and shoulders, and here's the cup, and here's the lip and the handle, and this is where the breakout was. But if you just go to the 60 Minutes chart, you'll go, oh, man, they sold it down for two days. They sold it down for 2 hours and then in the third hour, here it comes. You know what? I may reverse back to the highs or at least the daily chart and go, okay, yeah, I shouldn't have did any of that because they were selling it all day. This was just some fluctuation of yeah, definitely.
[00:42:34] - Agnieszka
It gives you a context, right, a perspective. And I think trading is a lot about different perspectives. Whether you're talking about the price or you're talking about yourself, to putting yourself in perspective. Right. What you do, your emotions and everything that you're doing really needs to kind of everything that's personal, you have to put in perspectives to kind of get yourself out of it. Step back and look at what is actually happening here. What am I telling to myself? What am I feeling? What is happening here? So that you don't project it onto the market? Like your dreams, your fears, your losses that you just took because it all doesn't matter.
[00:43:21] - Jermaine
Yes, I like to tell people the things that you are the one that determines what things mean. You know what I mean? So if you're just like you take some losses and you're like, I'm a bad trader. Every time I get in, it goes to the lows. And you keep telling yourself all these negative things. It's going to create a process. It's going to create a loop, a habit. It's going to create a habit. And then, so I tell people when you're trading and you do get stopped out, you trade your system no matter what it is. I like the strat, so I say the strat, but I get that reversal against me and I get stopped out. The first thing, I'm protecting my capital. Okay? There's a participation group in there that's doing something I'm not aware of. And I thought it was going to go to the highs, but they started selling it. I got out, okay? Stopped me out.
[00:44:11] - Agnieszka
Right.
[00:44:11] - Jermaine
One thing I tell people is don't cuss real loud. Don't bang on the desk, don't yell, don't say a bunch of negative things when you get stopped out. Because again, that's going to create a system that's going to create a habit. And now you're creating a habit. So every time you get stopped out, maybe your trading platform has a little sound, like a little tweet or a little sound. You hear that sound, you're like the very first thing you do is say a curse word and you're like power.
[00:44:42] - Agnieszka
Off instinct.
[00:44:42] - Jermaine
Yeah, off instinct. But what if it was a good trade? What if that was the same sound that you pushed your stops up and that's the same sound that it makes when you get stopped out with profit. Right now you're confusing yourself because you're like, oh, I got stopped out. And you say this word and you're like that's what you do when you're mad. But you just made some money on this because of habits, right?
[00:45:08] - Agnieszka
And your body reacts to it emotionally because our mind and our body is connected, right? So when you start cursing, you start also or like, throwing your hands up or keyboard. Some people throw computers out. That's probably not very handy thing to do for the business, but it creates a stress response simply in your body. And then now you have much more work to do to calm yourself down, to be actually able to be objective and to get back into trading. If you are, like, all over the place inside of your head and stressed out and your body is switching on to the survival mode, you can trade in that condition.
[00:46:00] - Jermaine
No, it's too stressed. Yeah, it just feeds can't was it Trading in the Zone with Mark Douglas? I love that book. It's a great book. I'm sure everybody says that, but it's great because he talks about getting stopped out. And if you have all these negative emotions, you got it all built up. You're not looking at what's actually happening right now. You're not looking at this going, okay, I was shorting this, but now it's going to the highs. Your brain is not going, I need to be looking at anything that was taken out yesterday's. Highs. I need to look at stocks that had you know what I mean? There's got to be winners in there. Somebody's buying stocks. Where are they at? You know what I mean? So we can go to I know they were buying energies this morning. I'm using this as an example. I know they're buying energies this morning. Let me go right back to energies. Let me go see what they're buying. You know what I mean? What are they really in? But you can't think that.
[00:46:54] - Agnieszka
So just look for opportunities, basically, instead of ruminating on what just happened and calling yourself a loser and stupid and all kinds of things, right?
[00:47:05] - Jermaine
Let's just say it takes you 20 minutes to calm down. That's 20 minutes of you not seeing any new positions. Now the day is over. Or let's just say stick to the timeline. 20 minutes later, you're seeing where you missed, where you could have got in at. So then the whole cycle starts all over again because you're like, Well, I didn't see these things. And now you know what? Don't.
[00:47:25] - Agnieszka
Right? What's wrong with me?
[00:47:27] - Jermaine
Yeah. Self talk is very important. I tell people to say a little mantra. Rob did create this one, but I kind of pushed the idea of it being a mantra of I create winning positions, add to them, and defend them with tight stops. So that's what I tell people. Say that stuff when you're trading. Because I create winning positions. Okay, I see where I need to get in. Boom, I'm in. And then I add to it. Can I add to this position? We like to scale in? That's what we teach scaling in, and then I defend them with tight stops as the price is moving, people use them, they say trailing stops, but I call them progressive stops, continuously pushing those stops toward the price. And because I like that mantra, creating winning positions, add to them and defend them with tight stops. Because those three phrases turn into questions. They can be questions. Okay, you can look at your charts and go, okay, I create winning positions. Is this a winning position? Is my position positive or negative? You know what I mean?
[00:48:34] - Agnieszka
Very easy to answer, right?
[00:48:35] - Jermaine
Yeah, same thing. Can I add to this? Well, if it's positive, is there any way I can add to this? Yes or no? If it's a loser, no, I'm not adding to this loser. And then I defend it with tight stops. So then the next question is, okay, where are my stops at? If this is a winner, do I need to push it up now or should I just put my stops even? What should I do? Let's look at the charts, and then if it's bad, where are my stops? And if you don't have a stop, there's a bunch of other stuff that you need to be working on. So I like to use that I create winning positions because the trading psychology of the strat is already built into it, you know what I mean? That positiveness of I create winning positions is already there because you're going to have those times when you do get stopped out, and you're going to have those times when it's not I don't want to say losing streak, but you get to a point where you're like, okay, something's not working here.
[00:49:36] - Agnieszka
It might happen.
[00:49:37] - Jermaine
Right, I'm not following the trend.
[00:49:39] - Agnieszka
Yeah, exactly. And most traders do not reach consistency because not of their inability to make money, but the fact they give it back. And most of the time, it's not just the profits they give back, but much more than that. Have you ever experienced it on your own?
[00:49:59] - Jermaine
Yes, yes, I've experienced some drawdowns. I've had a tough trade on CrowdStrike earlier, back in June of this year. And you see all these people on Twitter and being a little vulnerable here, but you see all these people on.
[00:50:17] - Agnieszka
Twitter and they're like, thank you, I appreciate that. That's very important for trader vulnerability. And it's a strength, not weaknesses. A lot of people think.
[00:50:24] - Jermaine
True. I agree. You see all these people talking about made 3000% on this option. I bought this, I bought that making so much money. And I had calls on CrowdStrike. It did hit my target, but I thought to myself, nah, I'm going to keep holding it because of the monthly charts telling me it should go to the highs and I have time on this contract. Well, this thing went a little bit higher on the next day, Friday, and then they started selling it started selling down. Okay, I didn't take profits. Now I know what I'm doing. I'm the strat soldier. I got all these things. I'm doing the stuff and I know what I'm doing. And it continued to trade lower and lower and lower and I had to stop what I'm doing. And I had to get to a point where I'm like is this a winning position? No. Is this a winning position? No. What am I telling everybody else as traders? Cut your losers.
[00:51:25] - Agnieszka
Right.
[00:51:25] - Jermaine
You know what I mean? So this is me driving to work. This is me thinking to myself, this is me looking at my position. I'm going, this is not showing any evidence on the weekly, the monthly or the 60 Minutes charts that they want to buy this. They are selling it. And I had to sell it for a loss. Every once in a while you get those little wake up calls. So you have to be able to acknowledge that stuff. And again it all starts with being able to look at what's actually happening and tell yourself the truth. Am I holding a losing position? So yes, I have experienced it. I'm not perfect. I'm not a perfect trader.
[00:52:13] - Agnieszka
I don't think that exists. Right. And I think that's the problem that a lot of traders think that they will at some point be perfect. But I always say to my students, it's like there is no that one day. Then when you get there, then everything is just honey because you will be making mistakes, you will be taking losses, but it will be just very different than it will be more controlled losses and maybe you'll be making mistakes more rare than not every day. Right?
[00:52:47] - Jermaine
Right. At least I would say, you know what's happening, you know? Exactly. Okay, I know I got in this thing I didn't take we call it magnitude, but I didn't take the profit at the target. This thing's going to the lows. It went further than I wanted it to or I thought it would go. But to be able to tell yourself the truth and go this is loser.
[00:53:08] - Agnieszka
Exactly.
[00:53:08] - Jermaine
I need to cut that. That's the difference. I think that's the difference of being.
[00:53:13] - Agnieszka
Honest with yourself, integrity and just minimizing the impact of that by being honest and by stopping yourself in tracks at some point. Because what was the catalyst for you to on that CrowdStrike trade to say, okay, now I have to be honest with myself. How do you know when is that moment to hold them and when to fold them?
[00:53:38] - Jermaine
Yeah, I like it. I like it a lot. For me, I'm going to tell you how it should be and then I'm going to tell you what happened.
[00:53:47] - Agnieszka
All right
[00:53:48] - Jermaine
So again, I look at four different timeframes right now on XLE. So I want to see if there's buyers on the month. Is it green on the month? Okay. And then I'm looking for the week to reconfirm what I'm seeing on the month, and then I'm looking for the daily and the 60 minutes charts to reconfirm what I'm seeing on the week and then the month, of course. So let's just say I got a stock, they're buying it this month. It's going great. Here's my weeks, it's continuing to the highs for you at home. You can look at XLE if you don't know what stock you could even look at right now. You can look at XLE because it's green on the month. It's green on the week right now. And then your days know as the days are reconfirming what we've seen on the week, what we want, an ideal stock, an ideal trade is I'm getting something that there's buyers in the month that I get in a reversal on the week and then continue to buy it all day, every day. And every 60 minutes chart, it's amazing. It goes back to the high.
[00:54:46] - Jermaine
Every day continues the highs, of course, that's the dream, right? But it's not going to happen every day. So as those days trend, are they continuing to move up? Or is the trend slowing down and now they're taking profits? Then you move your stops in a direction. So that's how we do that. That's the ideal way in that crowd strike trade. I had a scenario two on the month, meaning the month was trading higher than the previous month. I did hit my target on the week. I hit my target on the day. And then on the 60 minutes charts here, it starts moving down. I'm like, okay, all right, I can hold through some of this because we know people are taking profits. We know other people. Again, I just said we like to add to our winners. And we know not everybody trades the strat. Some trading systems say always be selling. So we know people are going to here it is. Now they start selling you're like, okay, like I said, I'm the strat soldier. I know they're taking profits on the 60 minutes charts. Okay, fine. Then the daily chart, there's a reversal on the daily, okay, now it's a two two reversal down, meaning the current day was trading lower than the previous day.
[00:56:04] - Jermaine
All right, now we have reversal back down on the daily chart. I got the 60 minutes charts that are red, the daily charts that are red. And then when I finally had to make a decision, like, I have no evidence to keep holding, this was when it started reversing on the week, because now I have again, I'm looking at all four time frames. I got red on the week, red on the day, red on the 60 minutes charts, and they're selling this thing. I need to get out of this. I need to follow my own rules again. I need to follow my rules and go, is this a winning position? And I need to cut this. Thing. Like I said, I ended up selling it for a loss. And it's always important to know when to tell you. I said tell the truth. No, this is a loser. You didn't take profits, whatever. Deal with it. Just cut it. Because if you just keep holding it and you're like, it's going to come back. It's going to come back.
[00:57:00] - Agnieszka
What if it doesn't?
[00:57:02] - Jermaine
Yeah, what if it doesn't? You're like, well, it's an option, you know what I mean? Do you really want to lose all you don't want to lose some people say, Well, I don't care, so I don't want to say that. I want to say you don't ever want to have the mindset of it's okay for me to lose everything in this option, or it's okay for me to lose everything in this stock and for the whole thing to go so negative. You know what I mean? You never want to have that type of mindset, not if your goal is.
[00:57:28] - Agnieszka
To make money anyway, correct?
[00:57:30] - Jermaine
Yeah. Not if your goal is to make money. But I'd say the hardest times when that happens is when things have been going well. Things have been going well. You've had a good run, things have been going well, and you have that one trade that's just not working right, and you don't want to sell it. That's when you have to, like you said, be vulnerable with yourself, be vulnerable with the people that you're trading with and go, okay, I'm in a losing position. I need to cut this thing.
[00:58:00] - Agnieszka
Yeah, thank you for sharing that experience. I really appreciate it. And I think that there is a lot to say about accountability, which is very different in trading, because in our daily life, we always have someone else who holds us accountable for the things we need to do, right? Whether it's in your job, you have colleagues, you have a boss, maybe you have employees at home, you have your wife, you have your children. There's always someone watching you, right? In trading, it's just you and a computer. Nobody's watching you. You can do whatever you want. So now you have to be the person who has to kind of hold yourself accountable and say, come on, what the heck are you doing?
[00:58:43] - Jermaine
Yes, and I wanted to say this earlier, so I'm glad you said that, because in sports, in the military, in any kind of profession, doctor, lawyer, all that stuff, any kind of profession that you have, you have other people that you're working with to achieve a goal, you know what I mean? So even if you're the manager, you need all the people around you to make that stuff happen, and you have to work with them. And you're using a lot of stuff to a lot of your personality, a lot of your skill set, a lot of influence that you have to make things go in a direction that you want especially in the military, I say, get your stuff and get on the truck. You can raise your voice, but at home, you can't do that. Or wherever you're trading, you can yell at the screens all day long, but that price is going to do whatever that price is going to do. So you can't really influence the market so much with your yelling and your personality at all.
[00:59:48] - Agnieszka
Maybe there will be a chance with AI, who knows?
[00:59:52] - Jermaine
I told you to get up there. I told you to keep going up. Okay. Oh, no.
[00:59:59] - Agnieszka
Can you imagine?
[01:00:01] - Jermaine
Oh, that's going to be great. But then the reality of things is it's going to be a lot of people. There will be millions of people screaming in the microphones, and then the market will come right back to what it was before, where it's going to do what it's doing, because we got millions. Me and you see this thing as going to the highs. These other people over here see this thing as going to the lows. So they're selling, and everybody people say the market doesn't care about you and all this other stuff. The market doesn't even know who you are because the market is not a thing. The market exactly. The only responsibility the market has is showing you what the price is right now. That's it. That's the only responsibility. Anybody. You know what I mean? I hope you're paying for real market data for that, because then it doesn't have that either.
[01:00:51] - Agnieszka
Then it's just a game you're playing with the right data.
[01:00:55] - Jermaine
Exactly. All it's doing is showing you what the price is right now. And again, no matter what trading system you use, we are trying to identify the trend and identify it early enough that we can profit from it. That's what we're doing. And we use historical data to do that. Like I said, the spies continue to the highs at 447 16. It's moving. Hammer enforce on the 60 Minutes chart. It's moving up. And if you're still shorting something, you got to be telling the truth. This thing I'm shorting is the thing I'm shorting, is it still going to the lows? No, this thing started moving back up. So that's my whole thing. And in the art of cutting losers, that's what I say, you got to be able to tell the truth. Put your set, your stops, and what's the price actually doing? Is it going against you, or are you trading with the trend? You know what I mean? Even if you're in the trend, is your position good? You know what I mean? Because we talk about that. That's a whole other conversation. You want to talk about bills and all this other stuff.
[01:02:05] - Agnieszka
It's so interesting because we people, human beings, we generally know what's good for us, right? We can figure it out. Like, deep down, you we really know what's good for us. And in a lot of cases, in our life. We do like driving. I mean, most people do obey the rules. Like when they see the red light, they will stop. Well, not always. Where I live, I know Florida is known from really bad driving, but in general, right, we know what's good for us. And for some reason a lot of times we do choose to do the opposite. Like look, for example, diet, right, or not exercising. There's a lot of stuff that we do that are not in our best interest in trading. Making these decisions, whether you choose to act in your best interest or not, can be a little bit tricky because with regard to taking losses, taking a loss does not seem rationally to be in our best interest, just the wood itself, taking a loss, right? So it kind of messes up in our head, our emotions. It messes us up because who wants to take the loss? I don't want to lose, right?
[01:03:24] - Agnieszka
I'm supposed to make money. I don't want to lose. So what is your take on emotions in trading in general? Especially the emotions with regard to cutting losses? Because small loss, it doesn't matter, right? It's like a little cut, no big deal, but when it gets out of hand, it's a different story.
[01:03:43] - Jermaine
I like it. That was good. It kind of makes me like we should have like a think take and come up with a different word than loss. Like the psychology of the word. That's great. I say taking small losses is what we want to do because again, that's when things kind of clicked for me. Taking small losses because we want to protect our capital, we want to keep trading. And if you break the rules, let's say you're driving analogy, you don't really stop at that stop sign. You just kind of pause a little bit and coast on through. Like everything's fine.
[01:04:18] - Agnieszka
Just look around. Is there police?
[01:04:21] - Jermaine
Yeah, there's no police. I don't see a school bus. There's nobody. But what's that one time that you just kind of tap on the brakes on that stop sign and then now you're in a crash, right? You know what I mean? You know what I mean? Because you're like, I didn't see that car because you didn't see that car coming. You didn't see you just thought it was okay to cut this person off. In trading, in driving, I like that driving. In your driving analogy, you can get away with stuff and then by the time somebody catches it, you're gone. It's fine. In trading, there are times, like you said, you're by yourself. There are times you're going to be tempted to do something crazy or just hold on to that losing position and it comes back and you're like, I knew it, but I'd rather you cut that thing. Just tell yourself the truth. I was shorting this. It was great. I need to go ahead and if I'm still in a profit, go ahead and take the profit. Or if this is a loss, I need to go ahead and cut this loser now because it's small.
[01:05:20] - Jermaine
And let's just say the market is going well for this hour, you know what I mean? Or this day, tomorrow it could go right back, like you said, CPI, it could go right back to the lows. I'd rather you cut this thing, don't lose a lot of money. But if it goes right back to the lows tomorrow, you got the capital to get back in. You have also the mental capital. The mental capital to get back in.
[01:05:42] - Agnieszka
That is so important, right?
[01:05:44] - Jermaine
Yeah.
[01:05:45] - Agnieszka
Because how many times when you keep something overnight and in my experience, when I did that, and sometimes I would still do when I think, okay, it was going up, I'm keeping it. But the moment that it opens, okay, it happens. The whole market gapped down. Right. Something happened. And then you're in a completely different spot. Now you cannot look for opportunities. Now you're looking at the open. What am I going to do with this position? Right? What is it going to do? Like, where do I cut it? Because now you're taken by surprise. And in the past, I have to say that when I left and you're talking about the people who stay overnight at the party, the losing position always gets bigger the next day. Always.
[01:06:29] - Jermaine
Yeah, it's worse. Yeah. That person gets up angry. Yeah. They're frustrated about everything. And I agree, too. I was talking to a trader yesterday, having a winning position, and then the entire market gaps down overnight. That's tough. That's tough. That's when you go and you just cut it because it could keep, you know what I mean? Because you don't want to.
[01:06:52] - Agnieszka
There's a reason why market gaps down, right?
[01:06:54] - Jermaine
Yes, there's a reason. And maybe it's something like the whole credit thing on Wednesday was that last Wednesday, the whole credit thing completely changed the market to the downside completely. Everything backed down and everybody was like, what the heck is this? No one saw that coming. Nobody saw that coming. Don't let anybody tell you that they did. And all you could do was just cut your losers and what is the price actually doing now? So, yeah, holding a winner and it gaps down, it's a loser. Just cut it, that's tough. But then holding those losers. Yeah, you're right. Holding those losers and then the whole market gaps down, and now it's even worse.
[01:07:31] - Agnieszka
Right
[01:07:32] - Jermaine
You got two problems. Yeah. You got two problems. You got a capital, you got a losing position, and then you have your like, why do it? Put it exactly. Why did this stupid thing, this stock trades, they make coffee cups. Why did I even buy this thing?
[01:07:50] - Agnieszka
I know, yeah, we can laugh about it now, but when you are in the moment, in the heat of the moment, it's just, like, totally different, right? It just destroys you.
[01:08:02] - Jermaine
You're like this stupid, stupid AI.
[01:08:05] - Agnieszka
I know. Can the AI please fix it?
[01:08:11] - Jermaine
You can't go back either. You can't go back either. Like I said, you go to work. It thinks, hey, don't worry about it, boss. I'll fix this. Don't worry about it. We'll fix it. You can't do that with your chart. You can't go.
[01:08:20] - Agnieszka
You really have to be always responsible. I think it's a lot about responsibility and continuing with this analogy of driving, just imagine when you are deciding to take risk and you are in your car on your own, right? Okay. You might go through the red light and say, okay, I might be lucky. Nothing is going to happen. But you are risking your car. You're risking your life. And if you have a family, you are also risking impact on them, right?
[01:08:51] - Jermaine
Yeah.
[01:08:52] - Agnieszka
So ask yourself, like, if your family now would be in the car, how different would you think? Because when you are trying to make a living trading and make money, it does have impact on everyone else, not just you. And I'm not talking just a financial impact, but when you have a bad day trading and you don't know how to control your emotions, you take that to the dinner table, and everyone knows, your whole family knows it was a red day or it was a green day, right?
[01:09:20] - Jermaine
Yeah, that's true. That's true. And that's where those small losses come in at, because, you know what I mean? It's less of effect on you. I'd rather you just cut it. But yeah, you're right. And I've experienced that as well, and that kind of pushed me more because I had the strat, and then I started, okay, let me learn this trading psychology stuff. That's when that became more apparent and more evident as well, because you're right, and when your trading affects your emotions, that's when, like I said, the cycle. You're happy when you're doing great when you're making money, and you're sad when you're losing money. So then, like I said, it just turns I tell people, Use your emotions. We're emotional beings. We're not robots. We're emotional people. So that means we are emotional traders. We are so don't try and be a robot. Don't just go, well, that was $1,300. Oh, well, no, you need to be going, okay, that's not acceptable. I don't like that. You know what I mean? What am I doing wrong? What do I need to fix? You know what I mean? And then using your emotions while you're trading, you know what I mean?
[01:10:34] - Jermaine
Use them in your best interest is what I'm trying to say. Use them to help you out. You know what I mean? Okay, I got stopped out. It was a small loss. Fine. The market's going back to the highs. I know I can do this. I know where the stocks are. I know what they're buying I'm going to create these winning positions in that, you know what I mean?
[01:10:52] - Agnieszka
Right.
[01:10:53] - Jermaine
It try to do that, but yeah. Okay, so you're driving one more time, but one more thing about the driving, that's another analogy about driving I like to use. Okay, so you're in the car, you're saying, I'm going to work, and you start driving to work, and all of a sudden you look up and you see you're in the wrong lane and you've missed your exit, and you're going in the wrong direction. You absolutely know you're going in the wrong direction, but you look at your gas tank and go, I have a full gas tank. I am not turning around until I'm at a half a tank, and then I'm going to get off and turn back around because then I'm definitely in the wrong. Right? That sounds ridiculous, right?
[01:11:33] - Agnieszka
Ridiculous, if you put it that way.
[01:11:36] - Jermaine
You will never do that. Most people are like, wait a minute, where are you going? Even the people, like you said, it affects your family, the passengers, the kids in the back are like, where are you going, dad, where are you going?
[01:11:50] - Agnieszka
And you go like, I know where I'm going, I know where I'm going.
[01:11:54] - Jermaine
This road is going to take me where I'm going to go. And everybody's in the car is going, no, you don't know. And then you're like, okay, well, I'm going to find an exit and I'm going to get off and I'm pull back around. And then you finally do it.
[01:12:05] - Agnieszka
Right?
[01:12:05] - Jermaine
So using that with your trades, if it's not working and it's going the other direction, get off on an exit, cut that loser and cut that losing position and then go the other way. You know what I mean? Right.
[01:12:19] - Agnieszka
Get in a driver's seat and be responsible.
[01:12:22] - Jermaine
Yeah, this thing's going the other opposite direction. So yeah, you kept saying driving. I kept trying to bring that up, but I fantastic.
[01:12:30] - Agnieszka
You can find so many situations, right?
[01:12:32] - Jermaine
Yeah.
[01:12:33] - Agnieszka
Because in the end, you have to be always, whether it's your life or trading, you have to be in a driver's seat and be responsible.
[01:12:41] - Jermaine
Yes, you said driving, but I like it into running. You can have a pack of people and we're all running in the same direction, run a five K, and you'll know what I'm talking about. Everybody's having a good time, but it's still you against you. It's still a one person sport. Same thing with trading. It's a one person sport. I can tell you, just keep, just stay in there, you're going to do great. There's no reason to get out of this trade. I can coach you as much as I want, and I can say it's going to the highs, but you still haven't hit the button to get in, or you still haven't hit the button to get out because it's a losing position. No matter what I say, it's still the individual person that has to make those decisions. And the same thing with, like I said, running. I'm a runner. We can run in a group, and we can come on, you got this. Only two more miles left. But if that person does not want to run anymore, they're going to stop running. You know what I mean?
[01:13:39] - Agnieszka
Right.
[01:13:39] - Jermaine
And you as a person, you have to have that mindset, that strong trading, that strong psychology that says I can do this.
[01:13:47] - Agnieszka
That brings me to my last question.
[01:13:50] - Jermaine
I talk a lot. My bad.
[01:13:52] - Agnieszka
No, this is fantastic, and I could go forever. Do you think being a soldier did contribute to your success in any way? And if so, which aspect do you think helped you? Do you find yourself being more disciplined than what you see from other traders? Or is this not about the discipline part?
[01:14:11] - Jermaine
I think it's about being more disciplined in the fact that the army definitely tells you when you're doing it right and when you're doing it wrong. There is no ambiguity there's not like, well, no.
[01:14:24] - Agnieszka
Right. So the honesty in feedback, yeah, it's.
[01:14:27] - Jermaine
The pass or fail. Yes, you did good. No, you did not. And to be able to look at my trades and look at something like that and go, yes, I'm doing right. You know what I mean? These are winning positions or these are losers. I need to cut this. That has helped me with that big time. And then the other experiences have helped me in the fact that being able to work with other people, other personalities, work with other people, see how they do it, and then I guess I'm talking more about working in a community of traders. You're like, okay, this is what we need to be looking at. And showing people being in stressful situations helps. I'm trying to bring it back to trading instead of talking about teaching discipline, of knowing if I'm doing it right or if I'm doing it wrong. That has helped me. And in stressful situations in the military have helped me as well, because that's when the training takes over. The training takes over.
[01:15:30] - Agnieszka
Muscle memory.
[01:15:31] - Jermaine
Muscle memory. And the whole we say it all the time. Don't get the FOMO, don't get the AMD is going up. I knew it was going up and I didn't get in. And now she get in. But you don't have an entry in. It is going to the highs. It is going up. You would be trading with a trend, but you don't have an entry into this. You're just buying.
[01:15:52] - Agnieszka
Yeah, you cannot jump on a riding train. Right?
[01:15:54] - Jermaine
Right. That's where the muscle memory of the practice comes in at, and the training takes over. When you have a loss, again, when you have a loss, you have to look at it and tell yourself the truth. And that's when the training comes in and go, okay, this is a loser. Cut it, or this is a winner. Push my stops up. This is good. I need to push my stops somewhere in here so I get stopped out. Profit. Well, I didn't get stopped out. It's still going good. All right, good. Keep your stops there. Add to it. You know what I mean?
[01:16:23] - Agnieszka
Yeah. Finally, it happens, what I wanted. Oh, I can't handle this.
[01:16:26] - Jermaine
Finally, it happens, what I wanted. Yes. All the times of me talking positive, all the times of me studying these entries and where to put my stops. It's finally doing what I needed to do. Awesome. And that's when, like you said, it's heaven and everything's. Butterflies and the reins of owes. Great. And you're in heaven. But even then, you know what I mean, when that trade is over, the process starts over. Yeah, that's the military has helped me with that as well. The process starts over.
[01:17:02] - Agnieszka
Okay, great. And I have to ask this question. I know I said it will be the last one, but you said something that triggered that. You said feedback, whether you fail or you pass. Well, a lot of people have the fear of failing. Have you ever had that? And if you did, what helped you to overcome that? Fear of failure.
[01:17:25] - Jermaine
Yeah, failure.
[01:17:26] - Agnieszka
Failure, because it's very easy. Like, okay, you failed or you passed, but failing, that's a hard thing to bite, right?
[01:17:35] - Jermaine
Yeah, it is. And are you talking about fear and trading or just fear of failing in trading or fear of failing anywhere in any kind of thing?
[01:17:45] - Agnieszka
I think that's the same thing.
[01:17:46] - Jermaine
It is the same.
[01:17:49] - Agnieszka
I think if you don't want to fail in your life in general, as a person, it will come out in trading.
[01:17:56] - Jermaine
Yes, it will. But that's where I put my stops as well, and that's what helps me move with my stops. I don't want to fail what is actually failing and identifying what that is, I think that helps, too. Identifying what that means as failing, I believe continuing to try even though you haven't hit your goal, but you're continuing to try. I think you haven't failed yet. I think when you quit and you 100% say you quit, then you failed. You know what I mean?
[01:18:26] - Agnieszka
Got you. I think that's when you actually quitting is failing.
[01:18:28] - Jermaine
Yeah, I think quitting is failing, but I say that in the context of, okay, I define failing as okay, blowing up my account, that's failing. I never want to blow up my account. So this is a losing position here's. My stops. There's no evidence on these charts that tell me this is to go back in the direction of my favor. I need to cut this thing because I need to protect my capital. If I continuously whittle down my account, I'm going to blow my account up. Then I'll fail. You know what I mean?
[01:19:04] - Agnieszka
You completely switched the perspective. So basically, failing is not like, oh, I didn't make money, but the failing is I failed to protect my money.
[01:19:12] - Jermaine
Yes. I like that. You sum that very well. Failing to protect your capital. And if you're having a losing streak, you have to be able to tell yourself, okay, am I protecting my capital by continuing to try continuing to trade? You know what I mean? Yes or no? You know what I mean? And tell yourself the truth. Okay, well, I don't know what's going on right now, but every time I take these options, they're losers. I don't know what's going on with the market right now. It's hard to identify that they're selling it in the morning, and they're buying in the afternoon. I don't know what's going on. Tell yourself the truth and go, okay, this is what's happening. And take a break. Let your money settle. Let your mind settle. And if your set up opens back up and you're like, okay, this is where I need to be, and you take a small position. Take a small position, and if you get stopped out, it's a small loss. You know what I mean? Small loss. Never be like, oh, here comes 500 contracts.
[01:20:12] - Agnieszka
I'll be rich tomorrow.
[01:20:14] - Jermaine
I'll be rich.
[01:20:15] - Agnieszka
Yes. So taking a break is not failing, and sometimes it's the best thing you can do.
[01:20:21] - Jermaine
Taking a break is not failing. Yes. Taking a loss is not failing. You have to define what failing is to you and then take a break. Take a break if you have to. I don't want to talk too much about it because I want to keep it where you said it. That's good. Take a break.
[01:20:38] - Agnieszka
Awesome. Well, that brings us to the end of the episode and because we have talked a lot about the price where it is right now, and some charts for everyone who is listening. This episode is recorded on August 9, so if you are listening, it somewhere probably in September or so, maybe early October. Don't be surprised if when you look at your chart at that day, that it doesn't make sense, because we are in August right now.
[01:21:10] - Jermaine
Hopefully they're like, wait a minute. It was at 447. This is where I should have got in then.
[01:21:18] - Agnieszka
Right? Maybe we should be doing this episode live.
[01:21:21] - Jermaine
Yeah, that's it. Yes. That's funny. On The Weekend Shift, on my show on The Weekend Shift, I do it every Saturday, and we sum up what we talked about during the week, and sometimes I'll do some set here's, some setups to the downside, and then the very next Saturday, I go, well, that didn't work, but we knew when to get out. We knew when it wasn't enforced anymore. We knew when, okay, the buyers are coming back in or now they're selling whatever it is, and these actionable signals are not in force anymore. So you got to laugh at it. You got to have that humor you do.
[01:21:56] - Agnieszka
So where can people find you? Where can people hear about the strat? And are those shows publicly available for everyone?
[01:22:05] - Jermaine
Yes. So if you go to Sepiagroup.com Sepiagroup.com, that all the episodes are free. If you go to the about section, you'll see Jermaine Recruiter and you click on it and you'll see My Big Old Head, and then you go to the weekend shift. You can even go to videos, and all the videos are there. It's 100% free show for everyone, and we love to do that. So every Saturday we slow the strat down. We talk about what happened in the charts and what we're looking for, for next week. And I usually take some questions, and it's not just all about me. I'm not some superstar. I'm just a guy who likes to talk about The Strat. So I learned from my viewers as well. Some people get in there. I suggest getting in there. Put your email in there, register so you could be in the chat. Because we've had some good conversations on I've had whole shows. I don't say derailed, but we go on a tangent because someone asked a really good question, or someone said, okay, well, what are we looking at? Semiconductors here, let's look at this stock. And I'm like, there's no reason why we need to be in this.
[01:23:09.] - Jermaine
And I'm like, Wait a minute. And it would totally I'm saying it's dissipation. It's a back and forth and it's fun.
[01:23:16] - Agnieszka
Fantastic. I'm going to check it out.
[01:23:17] - Jermaine
Yeah, we have a good time.
[01:23:18] - Agnieszka
You can see me in the next show.
[01:23:22] - Jermaine
It's Saturday at 11:00. A.M Eastern Standard Time. We went from waking up early in the morning to watch cartoons to look at candles on Saturdays. So we went from cartoons to candles on Saturdays.
[01:23:37] - Agnieszka
That's where it came from, because I watched one of the shows there, and you were talking about cartoons, and I was like, what do you mean, cartoons?
[01:23:45] - Jermaine
Yeah, we're just big giant kids that can pay our bills. We're just like we went from watching all these little shows on a Saturday morning to getting up early on Saturday because most people are sleeping over on Saturday mornings. That's where that came in at from cartoons to Candles. And we have a good time. And you also check me out on thestratsoldier.com that's where I do my coaching, one on one coaching sessions. That's why I do my webinars, where I go through the entire trading system, the Strat, I need to come up with some dates for August, but those have good in the past, and those are small group things, too. There are only ten people that can be in those webinars because it's small group instruction. That's what the army made me good at, and that's what I do, small group instruction. That way you get the attention that you need. And I got some courses and a couple of other things in there too, but that's where. You can find me.
[01:24:38] - Agnieszka
That's awesome. And we'll put all the links in the notes from the show so people don't have to remember. Thank you so much Jermaine, for this candid conversation today. I really appreciate you sharing your views and experience. I really enjoyed it and as I said, I could talk to you forever. So who knows, maybe you will be willing to come another time and talk about another topic. And thank you also for your incredible contribution to the trading community. It's absolutely priceless. And thank you for listening to the Confidence in Trading podcast. Make sure you visit confidenceintrading.com and grab your free copy of my guide with Ten Easy Ways to Improve the Consistency in Your Trading. Thank you so much Jermaine.
[01:25:28] - Jermaine
Thank you so much. Thank you. This was great. Thank you. Thank you.
[01:25:31] - Agnieszka
Wonderful. If you enjoy my show, please support my podcast and leave a review on Apple podcasts and be sure to subscribe so you can come back for a real life conversation in the next episode. Until then, this is Agnieszka Wood from Ahead Coach. And don't forget, you too can realize your dream without losing yourself and your confidence in the process.
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