Falling in love with the process is key. Something that helped me so much to up my game and be consistent was to take care of my real life needs to a high standard - if I feel very secure in life and I'm comfortable with some luxuries to enjoy I find it very easy to detach myself from money because I already "have everything I need and want". This allows me to not get too euphoric when winning and not take it personally if I have to stop myself out of a losing trade and just immediately move onto the next trade idea. The paradox is when the pressure of making money is removed it's actually easier to make that money in the market and ignore the FOMO of over-trading on those weaker trades like you mentioned. Messy real life = an even messier trading life.
Man thanks for sharing. Honestly I think this is still very subjective as it depends greatly on the predisposition of the trader. Lately I am finding it easier to trade when my life is a bit more stressful than average. Bills are higher, trying to level up. Obviously not too high to the point where you can't make it. Just enough to channel that necessity / killer instinct that you need to remain calm in the markets and seek out only your best trades. I traded for awhile where my expenses were low and life was easy, so that is my reference point. I found I traded more carelessly when life was too easy.
FYI I was and may still be on a multi day hot streak trading bonds at the time this video was recorded. In the past I have ridden similar smaller waves and what I have realized now is that for my particular situation, these are the things that aid me in keeping this mindset going. Understand that I am not advocating for or against any of the particular things I mentioned in the video like the frequency of reviewing trades. You need to determine what works best for you.
This is great advice for someone that's in touch with how their psychology works with and against them. Or even great for someone that isn't that way but can use this to become more in tune with themselves. If you can pinpoint where your mindset is on any particular morning, it could be advantageous as well.. you might decide to stay away from the market that day if you aren't in the right mindset etc. Really enjoyed your "dopamine" video as well, as cutting those things out of my life for the most part years ago helped me tremendously.
Wonderful Chris! I could relate to everything you said. I think high performance athletes achieve these states of mind and in public AND as they compete. Finding the calm in the storm makes everything available to us and responsive instead of reactive! Thanks so much!
Your right and good timing for a video lol. Where I’m at it seems like nonstop rain and when this happens my hobby cycling takes place inside. The problem is I start binge typing on forums. Like fu** this rain it’s nonstop. Maybe I go ski or something, but nice wake up call. I’m gonna quit it and just stick to my own game. I’m sometimes active in FC discord, but I feel too much lately. For whatever reason I felt I had to chime into help people. Maybe it did, maybe not. I honestly don’t know. And this is coming from guy who quit Facebook like 10 years ago. Thanks man. It’s not worth it to get caught up in other peoples beloni. Nice video
Yeah man, thanks for sharing. Don't know where you are geographically but when you wrote that two months ago it was very dry in central America. I'm into mountain biking.
@@VerrilloTrading ha yeah it was dreadful. On flipping zwift everyday plugging away like a hamster ugh. I’m on the rainy side of Mt Rainier. That’s cool man!! MT bike great! I did a fair amount in Bend Oregon when going to school down there. Wellington, NZ where I stayed for couple years has some good MTB. Queen Charlotte, Ghost Trail, Wanaka and Queenstown NZ pretty iconic. Haven’t done any Europe yet 😞. Soon I hope.
Usually "trading friends" in my case appear when we are at the top of the bullish market cycle looking for some advises, no one is there when the market is at its bottom. When such friends appear though, it's the best indicator we're approaching the top :)
@@DivineRacoon totally agree, seen it many times too. Bitcoin is a bit hyped today but it is early so I think it keeps pumping until your friends start hitting you up about it haha.
I would actually say balance is the antithesis of greatness in some ways. Nothing notable ever gets done by being balanced. There is nothing balanced about running a successful business. Fights don't get won by the more balanced. They get won by the better fighter. This new philosophy I have been tinkering with which is that the body is a vessel that is meant to be taken care of, with the intent being to sacrifice it to produce great works and other tangibles. It is a lot to unpack in a comment.
hello i have a question, i will try to explain myselft. when you sell a put and for example AAPL PUT 167.5. affect my margin 5741 (example) this margin is including in case of assigned ? or just for the PUT... and can u drive to whats happend afterr, if you get assigned with the margin excees liquidity net liqui.. etc plz i am a bit confused on this cus never been assigned so i have no idea how the number move after. this makes me not uses my excess liquidity cus of fear.
I am not 100% sure since I have not been assigned on an options position before. What I would do to check this is as follows. Check the margin requirement for the stock position that you might get assigned. The way you do that is by submitting a test order on that stock for the correct position size and it should give you the initial and maintenance margin. That will be the new maintenance margin for the position in the case that you get assigned shares from your put option.
Hey Chris. would you please talk about base currency for Canadian? Is it fine if I change the base currency to USD? I realized i lost a lot of money being based on CAD.
Falling in love with the process is key.
Something that helped me so much to up my game and be consistent was to take care of my real life needs to a high standard - if I feel very secure in life and I'm comfortable with some luxuries to enjoy I find it very easy to detach myself from money because I already "have everything I need and want".
This allows me to not get too euphoric when winning and not take it personally if I have to stop myself out of a losing trade and just immediately move onto the next trade idea. The paradox is when the pressure of making money is removed it's actually easier to make that money in the market and ignore the FOMO of over-trading on those weaker trades like you mentioned.
Messy real life = an even messier trading life.
Man thanks for sharing. Honestly I think this is still very subjective as it depends greatly on the predisposition of the trader. Lately I am finding it easier to trade when my life is a bit more stressful than average. Bills are higher, trying to level up. Obviously not too high to the point where you can't make it. Just enough to channel that necessity / killer instinct that you need to remain calm in the markets and seek out only your best trades. I traded for awhile where my expenses were low and life was easy, so that is my reference point. I found I traded more carelessly when life was too easy.
I think each person’s stress-performance curve is individual.
FYI I was and may still be on a multi day hot streak trading bonds at the time this video was recorded. In the past I have ridden similar smaller waves and what I have realized now is that for my particular situation, these are the things that aid me in keeping this mindset going. Understand that I am not advocating for or against any of the particular things I mentioned in the video like the frequency of reviewing trades. You need to determine what works best for you.
This is great advice for someone that's in touch with how their psychology works with and against them. Or even great for someone that isn't that way but can use this to become more in tune with themselves. If you can pinpoint where your mindset is on any particular morning, it could be advantageous as well.. you might decide to stay away from the market that day if you aren't in the right mindset etc.
Really enjoyed your "dopamine" video as well, as cutting those things out of my life for the most part years ago helped me tremendously.
Much appreciated.
Wonderful Chris! I could relate to everything you said. I think high performance athletes achieve these states of mind and in public AND as they compete. Finding the calm in the storm makes everything available to us and responsive instead of reactive! Thanks so much!
Your right and good timing for a video lol. Where I’m at it seems like nonstop rain and when this happens my hobby cycling takes place inside. The problem is I start binge typing on forums. Like fu** this rain it’s nonstop. Maybe I go ski or something, but nice wake up call. I’m gonna quit it and just stick to my own game. I’m sometimes active in FC discord, but I feel too much lately. For whatever reason I felt I had to chime into help people. Maybe it did, maybe not. I honestly don’t know. And this is coming from guy who quit Facebook like 10 years ago. Thanks man. It’s not worth it to get caught up in other peoples beloni. Nice video
Yeah man, thanks for sharing. Don't know where you are geographically but when you wrote that two months ago it was very dry in central America. I'm into mountain biking.
@@VerrilloTrading ha yeah it was dreadful. On flipping zwift everyday plugging away like a hamster ugh. I’m on the rainy side of Mt Rainier. That’s cool man!! MT bike great! I did a fair amount in Bend Oregon when going to school down there. Wellington, NZ where I stayed for couple years has some good MTB. Queen Charlotte, Ghost Trail, Wanaka and Queenstown NZ pretty iconic. Haven’t done any Europe yet 😞. Soon I hope.
Sad for me that you're in a different city of Canada, never had a trading buddy really and you're right you gotta love trading to continue doing it
If you keep looking for it you are bound to eventually find it.
Usually "trading friends" in my case appear when we are at the top of the bullish market cycle looking for some advises, no one is there when the market is at its bottom. When such friends appear though, it's the best indicator we're approaching the top :)
@@DivineRacoon totally agree, seen it many times too. Bitcoin is a bit hyped today but it is early so I think it keeps pumping until your friends start hitting you up about it haha.
100%. I haven't yet heard from my "friends", so it does seem like we still have some room to go up
Thanks Chris. Bottom line is to have a balance lifestyle. Don't overtrade, Stick to your methodology. Risk management, and have a happy life.
I would actually say balance is the antithesis of greatness in some ways. Nothing notable ever gets done by being balanced. There is nothing balanced about running a successful business. Fights don't get won by the more balanced. They get won by the better fighter. This new philosophy I have been tinkering with which is that the body is a vessel that is meant to be taken care of, with the intent being to sacrifice it to produce great works and other tangibles. It is a lot to unpack in a comment.
Very good thoughts, thank you for sharing them with us.
Most welcome
Everything always comes down to mindset
mindset is big indeed.
Thanks for that.
You bet!
For me Show up everyday is the key. Ps you are one green hat ahead to become Fatcat 😂
Indeed showing up is critical.
hello i have a question, i will try to explain myselft. when you sell a put and for example AAPL PUT 167.5. affect my margin 5741 (example) this margin is including in case of assigned ? or just for the PUT... and can u drive to whats happend afterr, if you get assigned with the margin excees liquidity net liqui.. etc plz i am a bit confused on this cus never been assigned so i have no idea how the number move after. this makes me not uses my excess liquidity cus of fear.
I am not 100% sure since I have not been assigned on an options position before. What I would do to check this is as follows. Check the margin requirement for the stock position that you might get assigned. The way you do that is by submitting a test order on that stock for the correct position size and it should give you the initial and maintenance margin. That will be the new maintenance margin for the position in the case that you get assigned shares from your put option.
Hey Chris. would you please talk about base currency for Canadian? Is it fine if I change the base currency to USD? I realized i lost a lot of money being based on CAD.
Hello, I will answer your question in a live stream that is upcoming later today: ruclips.net/user/livedj3mok3G2Dk?feature=share
Thanks! @@VerrilloTrading
@@VerrilloTrading Also even with hotkey, TWS pups up a window for w=overwrite permission! annoying. Any idea how to get rid of it?