🎯 Key Takeaways for quick navigation: 00:00 📈 Handling FOMO in Trading 08:32 🏖️ Exposure Therapy for FOMO 16:07 💭 Cognitive Work: Changing Thinking Patterns 26:03 🔄 Broaden and Build: Balancing Life Portfolio 28:27 🧠 Managing trading psychology and FOMO 34:52 🚀 FOMO and trader intuition 36:31 🧬 Personality traits and FOMO 41:10 💰 Taking profits along the way 43:10 🎯 Goal setting and consistency Made with HARPA AI
Consistent of profitability is more important than earning big PL in day to day. motivation should be learning not the PL. PL goes down it is even bigger opportunity. 1> Exposure therapy: Visualize yourself in a threatening situation and try to relax through breathing. Repeat this exercise several times and eventually, it will become normal. It is applicable in any areas of life. 2> USE ABCD technique: (A- trigger)you miss a trade, (B-tinking pattern that creat threat) you feel u r not good as others or others are getting ahead of you (C-consequences) you panic and you take an unreasonable decisions and do FOMO trade (D-) change the negative self-talk associated with missing a trade. Talk yourself the way you should talk to the person you care about the most. 3> Get a life! Diversify your emotion. That keeps your mind in check. 4> instead of defining you PL on money, define your PL by how much you learned and developed as a trader.
I'm cautious about FOMO and the potential of a tulip mania scenario. What are the most effective strategies to diversify my $500k portfolio. It needs managing and i'm too busy to follow market trends.
I'm cautious about FOMO and the potential of a tulip mania scenario. What are the most effective strategies to diversify my $500k portfolio. It needs managing and i'm too busy to follow market trends.
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
I have worked with a few financial advisors before now but i ultimately settled for Kimberly Grace Flanagan . She is SEC regulated and licensed in US. You can easily look her up.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
This is just awesome, amazing and unbelievable at the same time!!! By far the BEST video on trading psychology I have seen so far!! I can’t thank you enough Dr.Steenbarger!!!
I loved what Dr says- practice trading with visualisation. I am so happy someone at least i this world gives my idea a thumbs up! I developed a technique which i used to trade and i called it creative visualisation . I control my fomo by visualisation of possible safe entry point within the trend and position sizing the risk !
One of the most interesting things about watching this is feeling like I already knew to do this, but have simply being unable/not cognizant enough the apply it. Thank you for this content.
A lot of people think they should always be buying and selling something. That's a mistake. 99% of successful investing is waiting, learning, awareness/experience and getting extremely lucky with the market.
@@mayacho4910I totally agree, although coming into the market i missed the experience part, but my current trader helped me. She turned my 40k loss, made me 70k in a month, if not for her, i can't even begin to imagine....., she actually does most of my trading, to be honest.
@@theresagarcia1218 Exactly, i will never go into this market without guidance, please who is this coach that helped you, can you possibly do a referral?
This is great advice, as a beginner day trader I'm finally coming to realize it's more important to be able to make 100 good trades at 5$ per trade, than one good trade at $500
Wow, this was so good! Developing experiences of safety is critical in becoming a great trader who is more concerned about consistency and growth rather than P/L
PLEASE ADVISE ME. I was told to spread my savings across different things like Trade to protect and support my retirement. with everything being shaky,I'm considering going into Trade. i don't wanna make the wrong choice.
you must have these things in mind 1. Have a long term mindset. 2. Be willing to take *risk*. 3. Be careful, if you're not spending to earn back, then stop spending. 4. Never claim to know - Ask questions and it's best you work with an assistant.
Yo I didn't know Kate was this popular,my cousin trade with her for some months now, I tried but couldn't understand anything it's not my thing tho so I passed Lol. I can testify that trade pays very well because my cousin at 23 bought a house already.
When it comes to Trade, I can confidently say that bitcoin is the best option. But most people think it's all about buying and leaving it to rise but It takes a lot more you need to trade it to earn daily.
When I miss an opportunity in the market, I just say to myself, "Market always moves, another opportunity is just around the gonna, and that calms me out.
My problem is the opposite. I always think I missed out and I’m too late to get in and it keeps going. I actually changed my thinking with missed opportunities as a positive. There’s opportunities every day and you can’t get them all so get the next opportunity tomorrow.
This week was a perfect example. I put a great trade on then walked away when it was going my way vs staying in a little longer and keeping my conviction and had I held it would have turned out to be the best trade of my life. There is of course times when I fomo and I do need to stop that. Thank you for the video.
Great video! FOMO is absolutely killing me 😩 I keep trying though. What I love about trading is there is constantly something to learn. Just when i think i have it figured out it proves me wrong LOL
This has SO much Value Thank you for posting. I've been wondering why it seems like I have NO brains when trading live. In SIM my win rate is 80% and I'm relaxed, thinking clearly and having fun. (I'm new at this)
I appreciate your approach of teaching.. To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough, we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. In my portfolio, I'm noticing more red than green. I'm 47, and earn nothing less $150k per year, but nothing to show for it yet
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
Research suggests people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.
@@SamanthaCarolyn5 Very true, a huge part of my portfolio growth has come during this bear market. I've been able to scale from $120K to $370K in a short period of time. I basically was just following the steps and guideline from my financial advisor *PATRICIA DRITA JOSEFINA* as long as you've professional help, you're good to go
@@Wellingtonluzia3 That's impressive! I could use the expertise of this advisor, my portfolio has been stagnant..... How can I get started with PATRICIA DRITA JOSEFINA ?
*PATRICIA DRITA JOSEFINA* is the advisor that guides me, She has years of financial market experience and she is also FINRA & SEC verifiable, You can look her up internet &, message are there
Thanks Dr Steenbarger for the insight, and SMB for sharing it with us!! Much appreciated. I've read his Daily Trading Coach but am always glad to revisit,..
@@pipgodduncan8292 Absolutely, 2 months later and I have improved my profitability, and my overall cognitive health. I recommend practicing the mindfulness exercises, and re-watching this every quarter. Good luck to you!
Awesome video! This may be the best lecture on trading psychology I’ve ever seen. Thank you for posting - you’ve inspired me to spend some time and create concrete, actionable goals to improve my trading skills
There is also impulsiveness that has nothing to do with being disciplined. One can be overall disciplined but impulsive when the thought comes they don’t think at the moment and act on impulse if they think, they are thinking that at the moment it either doesn’t contradict to their rules or is an exception of the rules situation. Then they lose and can lose big.
What a treat to have this meeting shared with the community. Such value in how Dr S shares his knowledge and psychology wisdom, I lost track of the positive takeaways here. Thanks Dr S & SMB for sharing this video!
This is not the first I am watching it. But it is the first I truly get it. I noticed this is one my biggest setbacks in my development progress. Thanks Dr. S. Thanks Mike
Dr. Steenbarger's Blog: traderfeed.blogspot.com/
🎯 Key Takeaways for quick navigation:
00:00 📈 Handling FOMO in Trading
08:32 🏖️ Exposure Therapy for FOMO
16:07 💭 Cognitive Work: Changing Thinking Patterns
26:03 🔄 Broaden and Build: Balancing Life Portfolio
28:27 🧠 Managing trading psychology and FOMO
34:52 🚀 FOMO and trader intuition
36:31 🧬 Personality traits and FOMO
41:10 💰 Taking profits along the way
43:10 🎯 Goal setting and consistency
Made with HARPA AI
"The secret to permanently breaking any bad habit, is to love something greater than the habit." Great quote. 👍 good content
yes that's a great one
🔑
👍🏻
+1
One of the most amazing and beautiful psychology lesson not just for trading but for the overall life.
My heart glowed when I heard Dr S drop the F bomb. I love it
Thank you all for being part of this production. Im a subscriber and look forward to more content.
More to come!
Consistent of profitability is more important than earning big PL in day to day.
motivation should be learning not the PL. PL goes down it is even bigger opportunity.
1> Exposure therapy: Visualize yourself in a threatening situation and try to relax through breathing. Repeat this exercise several times and eventually, it will become normal. It is applicable in any areas of life.
2> USE ABCD technique: (A- trigger)you miss a trade, (B-tinking pattern that creat threat) you feel u r not good as others or others are getting ahead of you (C-consequences) you panic and you take an unreasonable decisions and do FOMO trade (D-) change the negative self-talk associated with missing a trade. Talk yourself the way you should talk to the person you care about the most.
3> Get a life! Diversify your emotion. That keeps your mind in check.
4> instead of defining you PL on money, define your PL by how much you learned and developed as a trader.
I'm cautious about FOMO and the potential of a tulip mania scenario. What are the most effective strategies to diversify my $500k portfolio. It needs managing and i'm too busy to follow market trends.
I'm cautious about FOMO and the potential of a tulip mania scenario. What are the most effective strategies to diversify my $500k portfolio. It needs managing and i'm too busy to follow market trends.
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
I have worked with a few financial advisors before now but i ultimately settled for Kimberly Grace Flanagan . She is SEC regulated and licensed in US. You can easily look her up.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Never clicked on a video faster
haha
Didn't even blink.
Same way you did when u entered that FOMO trade
click faster on the video than when I clicked buy or sell out of fomo
Guys a video with stay on your plan guessing discipline can it be found?
This is just awesome, amazing and unbelievable at the same time!!! By far the BEST video on trading psychology I have seen so far!! I can’t thank you enough Dr.Steenbarger!!!
I can't be more thankful for such a trading content !
Thank you SMB, Thank you Dr. Steenbarger !
What an amazing person Dr Steenbarger is! I am reading his book “Trading Psychology”. Brilliant read!
I’m going to play this video in the morning every day I trade. Thank you! 🙏🏼
This is pure gold. Thank you for sharing!
I loved what Dr says- practice trading with visualisation. I am so happy someone at least i this world gives my idea a thumbs up! I developed a technique which i used to trade and i called it creative visualisation . I control my fomo by visualisation of possible safe entry point within the trend and position sizing the risk !
You need to control your skills. There is no "FOMO", it's you gambling, i.e. a desire to quickly grab some money without working hard.
This was great on so many levels. You can use these techniques not only to become better as a trader but for a better life in general.
Very clear communication skills and transparency
One of the most interesting things about watching this is feeling like I already knew to do this, but have simply being unable/not cognizant enough the apply it. Thank you for this content.
My strategy is; buy quality companies, expect to hold no matter what, pay up but don’t over pay, keep track, sell rarely, be ready to course correct.
A lot of people think they should always be buying and selling something. That's a mistake. 99% of successful investing is waiting, learning, awareness/experience and getting extremely lucky with the market.
@@mayacho4910I totally agree, although coming into the market i missed the experience part, but my current trader helped me. She turned my 40k loss, made me 70k in a month, if not for her, i can't even begin to imagine....., she actually does most of my trading, to be honest.
@@theresagarcia1218 Exactly, i will never go into this market without guidance, please who is this coach that helped you, can you possibly do a referral?
@@mariahhayes5089She is a licensed fiduciary in the U.S, i work with her to trade my securities.
@@mariahhayes5089Just look with her name online, you will be directed to her page, there you can leave your messages.
This is great advice, as a beginner day trader I'm finally coming to realize it's more important to be able to make 100 good trades at 5$ per trade, than one good trade at $500
Math is your best friend. Hope is not your friend.
Preach it
Great, if you get it from the beginning, numbers Wil add up naturally.
Wow, this was so good! Developing experiences of safety is critical in becoming a great trader who is more concerned about consistency and growth rather than P/L
Best guy in trading Psychology Dr Steenbarger, hats off to you and SMB!
PLEASE ADVISE ME.
I was told to spread my savings across different things like Trade to protect and support my retirement. with everything being shaky,I'm considering going into Trade. i don't wanna make the wrong choice.
Ellen DeGeneres hosted Kate floretta on TV 2 yrs ago that was where I saw kate and followed up.i have also been attending her Trade seminars.
you must have these things in mind
1. Have a long term mindset.
2. Be willing to take *risk*.
3. Be careful, if you're not spending to earn back, then stop spending.
4. Never claim to know - Ask questions and it's best you work with an assistant.
Yo I didn't know Kate was this popular,my cousin trade with her for some months now, I tried but couldn't understand anything it's not my thing tho so I passed Lol. I can testify that trade pays very well because my cousin at 23 bought a house already.
When it comes to Trade, I can confidently say that bitcoin is the best option. But most people think it's all about buying and leaving it to rise but It takes a lot more you need to trade it to earn daily.
I think I might have came across the name on an interview last year where she spoke about finance.
Came here for getting rid of FOMO took some really great learnings 😊❤️
I want to thank SMB Capital for this excellent presentation on Trader's Psychology - I have learned allot and with be putting ABCD into practice...
Happy Birthday Brett....and many happy returns!!
When I miss an opportunity in the market, I just say to myself, "Market always moves, another opportunity is just around the gonna, and that calms me out.
My problem is the opposite. I always think I missed out and I’m too late to get in and it keeps going.
I actually changed my thinking with missed opportunities as a positive. There’s opportunities every day and you can’t get them all so get the next opportunity tomorrow.
always decide levels and act on that like a robot
These Dr. Steenbarger videos are so great.
Does the magnitude of profitability just not matter at all? that can't be the case. but I get it!!!
Amazing, thank you Dr. Steenbarger & SMB Capital for the recording!
Great Webinar. Thank you Dr. Steenbarger.
This channel is very under rated. Excellent content
Thank you sir! Excellent video 😊 May listen to this again
This week was a perfect example. I put a great trade on then walked away when it was going my way vs staying in a little longer and keeping my conviction and had I held it would have turned out to be the best trade of my life. There is of course times when I fomo and I do need to stop that. Thank you for the video.
Much respect for Dr. Brett!!
yes, absolutely!
This man is world class for real. Thank you SO much Dr. S for sharing your wisdom and experience with the world. Cheers (non alcoholic cheers ;)
This true real practice advice!!! I love it exactly what I was searching for! Thank you for this big eye opening advice
I love this guy - a leading authority in his field
best trading psychology video ever watched!
Most to the point problem (“THE Problem”) addressed very appropriately
Great video! FOMO is absolutely killing me 😩 I keep trying though. What I love about trading is there is constantly something to learn. Just when i think i have it figured out it proves me wrong LOL
This has SO much Value Thank you for posting. I've been wondering why it seems like I have NO brains when trading live. In SIM my win rate is 80% and I'm relaxed, thinking clearly and having fun. (I'm new at this)
Excellent video. I might have to watch it again later. You can know all this, but without change in habit, it wont change. Specially in this market.
Very informative video. SMB Capital always provides us, Traders, with valuable direct applicable contents. 🇦🇴🇦🇴🇦🇴🇦🇴
this channel is a gold mine
I will re-watch this. It's so profound
Brilliant piece of info .... thanks to SMB team to share it .....
Thanks for making trading psychology a specific topic. Really appreciated. Hope to see more related content in the future!
Best trading video you've put out to date. Thank you
This video saved my life. thank you so much.
Great video, The best I have watched all year..
I appreciate your approach of teaching.. To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough, we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. In my portfolio, I'm noticing more red than green. I'm 47, and earn nothing less $150k per year, but nothing to show for it yet
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
Research suggests people who work with a financial advisor feel more at ease about their finances and could end up with about 15% more money to spend in retirement.
@@SamanthaCarolyn5 Very true, a huge part of my portfolio growth has come during this bear market. I've been able to scale from $120K to $370K in a short period of time. I basically was just following the steps and guideline from my financial advisor *PATRICIA DRITA JOSEFINA* as long as you've professional help, you're good to go
@@Wellingtonluzia3 That's impressive! I could use the expertise of this advisor, my portfolio has been stagnant..... How can I get started with PATRICIA DRITA JOSEFINA ?
*PATRICIA DRITA JOSEFINA* is the advisor that guides me, She has years of financial market experience and she is also FINRA & SEC verifiable, You can look her up internet &, message are there
Amazing insight from the gentleman,drilling diwn to the core of FOMO
Thanks Dr Steenbarger for the insight, and SMB for sharing it with us!! Much appreciated. I've read his Daily Trading Coach but am always glad to revisit,..
I could watch this all day.
11:40 its a great quate so what is better habit than fomo related to P/L Replased by process follow hibe yourself rating out of 10 while trade.
Measure yourself based on consistent profitability, not magnitude of profitability, love it
Growth and development makes us more successful in the long term
SMB always with the goods
P&L should never be the measure of our self worth and our abilities, big lesson.
absolutely
That is such a great comment. 👍
This is absolute gold. This will make me a better trader.
thx Joseph!
🥇
@@smbcapital no thank you!
Did it?👀
@@pipgodduncan8292 Absolutely, 2 months later and I have improved my profitability, and my overall cognitive health. I recommend practicing the mindfulness exercises, and re-watching this every quarter. Good luck to you!
That was a great video. I’ll be watching again with my journal. It’s always so interesting the mind body relationship.
Thank you Dr. Steenbarger. Valuable lessons to take onboard and mediate on them always.
thank you! so much value here!
This guy speaks so nicely!
Absolutely top notch advice here. Thank you sir.
This is gold, thank you!
Awesome video! This may be the best lecture on trading psychology I’ve ever seen. Thank you for posting - you’ve inspired me to spend some time and create concrete, actionable goals to improve my trading skills
i am feeling like dr steenbarger is talking about me...mind blowing
I needed to hear this.
Thank you very much Dr.
great talk , it was exactly what i needed,
Amazing! Just need the real life implementation of this..
Thank you sir for all the giving ...... So much to learn
Thank you, that is so helpful! Not only for trading...
Thank you for sharing amazing . Tq SMB and dr. Steen
Our pleasure!
There is also impulsiveness that has nothing to do with being disciplined. One can be overall disciplined but impulsive when the thought comes they don’t think at the moment and act on impulse if they think, they are thinking that at the moment it either doesn’t contradict to their rules or is an exception of the rules situation. Then they lose and can lose big.
Awesome insight and sharing! Thank you so much!!
please invite him again, more important than print money! thanks
The longer I’ve been trading, the more interested I am in trading psychology.
Man, I wish I saw this video a month ago lol
But seriously, brilliant man
This man is a legend! 😎
Thank you SMB 🙏
Thank you Dr Steenbarger for these amazing lessons! Cant believe i haven't watched before some real Psychology gems appreciate the video, thanks! 😎
Связка просто топчик, респект!
SMB please post latest and not old videos. Thank you
Love that guy. Thanks for posting!
Thank you for Sharing this watch this couple of times.
🙂
What a treat to have this meeting shared with the community. Such value in how Dr S shares his knowledge and psychology wisdom, I lost track of the positive takeaways here. Thanks Dr S & SMB for sharing this video!
show notes coming on the blog
@@mbellafiore19 thx! I will be on the lookout for sure
🤘🏽
Thank You Dr S n SMB
Killer info!! thanks mike and dr steen , very much appreciated!!
Awesome presentation got a lot out of it. Spelling error at 26:59 . I have to work on being so pedantic :)
Thank you.....
Thank you for such great Video&Advices🥰😇🥰
This was all very interesting until it reached "Just visualize to fix this".... What about the people who can't visualize? Any advice for them?
Can I apply quit smoking mindset to getting rid of bad habits in trading? Are they even close in some ways?
Awesome info, thanks a lot.
This is not the first I am watching it. But it is the first I truly get it. I noticed this is one my biggest setbacks in my development progress. Thanks Dr. S. Thanks Mike
anyone here has access to the personality tests Dr. Steenbarger mentions in the video?
It's been a year since i placed any order however i sit and watch the market everyday hours together 😅
Best Trading psychologist in the world for a reason
+1