Lord Krishna said that in Bhagavad Gita centuries before Ben Crowe. "To action alone hast thou a right and never at all to its fruits; let not the fruits of action be thy motive; neither let there be in thee any attachment to inaction."
Reminds me of the serenity prayer....God grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.
It seems like focusing exclusively on P/L is like looking at your feet the whole time during a hike; when you should be focusing on the path to your destination.
These videos are so helpful, especially the really compassionate and encouraging ones. Thank you for putting them out there. They’re making a difference in my trading.❤
Good clip and thank you. For me, the down cycles, excess volatility, and harder parts of say being more of a pure long market participant, really helps develop the mental toughness needed to be in the market. Unlike most jobs, like painting a fence, writing a program, driving a bus, or writing a document, being an accountant where life is more deterministic, the market is a place where uncertainty and the future dominate the expectation set since the market trades on the future - which is uncertain. Accepting that and adapting to an ever changing information set and flowing with it helps prevent wanting to control the uncontrollable....
that might be true but you also should be confident due to succeeding more than you're failing. if you're constantly having these losing streaks it could be that your psychology is fine but your system is just bad
@@SacredCASHcow You must have a good control of both. Having a good system while having the psychology to apply that strategy and differentiating between losses/wins per day and losses/wins over a month, over 6 months, over a year is essential to succeeding in this type of business.
@@austinshum2561 I would agree somewhat. I think success begets success. if you're extremely skilled at something you will naturally be more patient and trusting of your analysis
grazie! - bad pnl days are good because the market shows a flaw in your system that you can improve and increase the expected value of your bobble head. it is increasing your longterm pnl, it is making you more adaptable across markets, making you a more resilent trader. making you a more mentally robust trader - don't compare yourself with others, just focus on getting better every single day - view adversity as an opportunity to get better
Wow, such a good video and great points. I definitely focus way too much on PNL. I pretty much refuse to take a losing day and to stop trading for that day if I'm in the red. Definitely need to focus on the long-term strategy and progress. Thanks for this!
Awesome video…I just subscribed and will watch every video. Started trading 9 months ago and wow do I obsess over PnL! Yesterday was my first 1k profit day and today I profited 32.00. It definitely bummed me out but this video has shown me a better way and to stay positive. TY!
You have nothing to be sad about with a $1,000 and then a. $32- day! It’s so easy after a great day or a great morning to give it all back the next day or two. Stay focused on the process and risk management and you will be golden.
Oh man, love this paradigm shift!!! More people need this message. A red day is a lesson day that also contributes to our critical growth! Long game mentality. Sooooo good! 🔥💪🏼✨ Thank you Lance & SMB ♥️
Obsession is neurotic and ego driven while passion is no more than a natural curiosity of understanding the subject matter. But even passion is overrated.
Honestly is, just got stopped out on a short, with a parabolic reversal after being up, but was waiting for a consolidation zone to lock in some profits. Was disheatening as hell.
One of the best videos you uploaded, really loved & enjoyed the topic... I will apply everything you said, this will make my trading better on the psychological side & also in my own personal life! 😄
Wow this video makes me strong I realize that my journey is full off stress because I always focus on every and each day of performance instead of long run.
thank you Lance. Having a hard time to continually motivate myself to continue after 4 years of studying and trading options as my losses are bigger than my wins. Your video has helped me to focus on improvement.
Great video. It's basic information that I've heard before, but because I trade alone it sounds fresh and encouraging, especially how you present it Lance. Thanks!
Awesome video, great stuff as usual any links to the mindset coach featured here, would be appreciated. I could not locate anything, probably spelling his name incorrectly...💡
Absolutely great video! Meta cognition is the secret for success in any area of trading and/or life, and the way he explains how it relates to trading is just awesome, 10 out of 10! Thanks 👍
Nobody just wins except the buy and hold people who hold in a 9 or 12 or 50 year bull market, because they don’t actually look at the market. Traders gotta WORK to win consistently and to HOLD ONTO their gains.
I am always thinking that if most of your traders trading every day with a fixed number of money, I mean, for example, some of you just trade 100$ each time on a day, without using your incurred profit or loss. Is that right? THANKS!
This is complete nonsense....If I can tell if a trade is going to be A/B/C/D then what's the point in dealing with C/D trades? And why then not go all in right at the beginning if you guys can tell?
Don't see much difference between p&l and bubble heads, it's sounds the same just named differently , just use monthly/quarterly p&l instead of daily and focus on making your trade right every single time.
SMB Workshop: bit.ly/3vXWbAx
Lord Krishna said that in Bhagavad Gita centuries before Ben Crowe. "To action alone hast thou a right and never at all to its fruits; let not the fruits of action be thy motive; neither let there be in thee any attachment to inaction."
Just constant value from this man day in day out.
He hit all the trigger points that traders have to grapple with in order to succeed in the long game. I needed this today.
Taking the pressure away from making P&L and focusing on progress is huge! Thanks Lance
I’ve been smb video watcher for years. This is the best smb video ever posted Thank you Lance!
This guy is a wonderful mentor.
Reminds me of the serenity prayer....God grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference.
It seems like focusing exclusively on P/L is like looking at your feet the whole time during a hike; when you should be focusing on the path to your destination.
This deserves more likes
So excited to see Lance at SMB!! Thanks for doing that, great video!!
These videos are so helpful, especially the really compassionate and encouraging ones. Thank you for putting them out there. They’re making a difference in my trading.❤
that's great Skye
So true and helpful.. .This really picked me up after a bad red day... thank you so much !
Great video guys - always good to zoom out and take perspective on the bigger picture of what you're trying to achieve
Absolutely!
Great addition to the team!
Good clip and thank you. For me, the down cycles, excess volatility, and harder parts of say being more of a pure long market participant, really helps develop the mental toughness needed to be in the market. Unlike most jobs, like painting a fence, writing a program, driving a bus, or writing a document, being an accountant where life is more deterministic, the market is a place where uncertainty and the future dominate the expectation set since the market trades on the future - which is uncertain. Accepting that and adapting to an ever changing information set and flowing with it helps prevent wanting to control the uncontrollable....
that might be true but you also should be confident due to succeeding more than you're failing. if you're constantly having these losing streaks it could be that your psychology is fine but your system is just bad
@@SacredCASHcow You must have a good control of both. Having a good system while having the psychology to apply that strategy and differentiating between losses/wins per day and losses/wins over a month, over 6 months, over a year is essential to succeeding in this type of business.
@@austinshum2561 I would agree somewhat. I think success begets success. if you're extremely skilled at something you will naturally be more patient and trusting of your analysis
grazie!
- bad pnl days are good because the market shows a flaw in your system that you can improve and increase the expected value of your bobble head. it is increasing your longterm pnl, it is making you more adaptable across markets, making you a more resilent trader. making you a more mentally robust trader
- don't compare yourself with others, just focus on getting better every single day
- view adversity as an opportunity to get better
Wow, such a good video and great points. I definitely focus way too much on PNL. I pretty much refuse to take a losing day and to stop trading for that day if I'm in the red. Definitely need to focus on the long-term strategy and progress. Thanks for this!
Awesome video…I just subscribed and will watch every video. Started trading 9 months ago and wow do I obsess over PnL! Yesterday was my first 1k profit day and today I profited 32.00. It definitely bummed me out but this video has shown me a better way and to stay positive. TY!
glad you recognized that you should be focusing on other factors besides pnl
Just make sure you are not over risking.
You have nothing to be sad about with a $1,000 and then a. $32- day! It’s so easy after a great day or a great morning to give it all back the next day or two. Stay focused on the process and risk management and you will be golden.
Hearing about Lance's journey is the most helpful and inspiring.--Helps me stay focused and motivated.
I needed this today, I had a great green day yesterday, and today i gave half back, red as a chili. im pissed off man
stoked to see Lance at SMB!
Us too! Amazing person.
Process over profits! Great stuff
Oh man, love this paradigm shift!!! More people need this message. A red day is a lesson day that also contributes to our critical growth! Long game mentality. Sooooo good! 🔥💪🏼✨ Thank you Lance & SMB ♥️
Obsession is neurotic and ego driven while passion is no more than a natural curiosity of understanding the subject matter. But even passion is overrated.
the funny thing on the James Clear book is, the word stock gets not mentioned once, but it´s pure gold for trader.
This is exactly the thing I needed to hear, thank you, SMB!
Honestly is, just got stopped out on a short, with a parabolic reversal after being up, but was waiting for a consolidation zone to lock in some profits. Was disheatening as hell.
One of the best videos you uploaded, really loved & enjoyed the topic... I will apply everything you said, this will make my trading better on the psychological side & also in my own personal life! 😄
Wow this video makes me strong I realize that my journey is full off stress because I always focus on every and each day of performance instead of long run.
glad you realized this!
One of your best advice I have seen, thanks so much! this is gold!!!
Great video and so relevant to shifting your mindset to be a better version of yourself as a trader.
thank you Lance. Having a hard time to continually motivate myself to continue after 4 years of studying and trading options as my losses are bigger than my wins. Your video has helped me to focus on improvement.
Wow needed this
Thank you, I really needed this! 🙏
Thanks Lance
Great to hear these advice
This is very high quality advice on training. I think that this video does a lot to boost trading psychology. Thank you for your video.
Really needed to hear this.
Great video thank you SMB !
Great perspective, thanks 🙏
One of my Big problems is being outcome bassed this video greatly helped thanks 🙏
This man is a gangster
Great video. It's basic information that I've heard before, but because I trade alone it sounds fresh and encouraging, especially how you present it Lance. Thanks!
Thanks.
Great video!
Incredible message. Great job!
Good stuff! Practical advice! Love it.
😊👍
Great Video…. Enjoyed the structured information that is applicable to everyone’s trading approach…. Thanks, Keep up the great work!
This is the way 🚀
God bless you guys greatly in every aspect of your lifes.
I'm unsure if the second time I comment on this video. But this is "GOLD". Thank you.
When your bitten by the bug of trading. The number 1 symptoms of the bite is green obsession no matter what u trade😎💪😁
Great message
Thanks for the video. That's I have been thinking about my journey -- I would get too discouraged otherwise!
LANCE!!!
This is really a great video, can you please record more videos with Lance. Thank you.
More to come!
Obsessing isn't a good thing. But it's still necessary to document it. If your PNL is consistently low, you should figure out what's wrong.
Thank you for this brother
Great video ... thanks.
great mindset !
absolutely!
Very Important video helped me get through difficult times
Great motivation - thanks!
Very well spoken
Always great content.
Awesome video, great stuff as usual any links to the mindset coach featured here, would be appreciated. I could not locate anything, probably spelling his name incorrectly...💡
All I care about is CONSISTENTLY learning every day. It is inevitable that I end up at SMB.
Thanks for another great vid Lance!
Absolutely great video! Meta cognition is the secret for success in any area of trading and/or life, and the way he explains how it relates to trading is just awesome, 10 out of 10! Thanks 👍
Thanks for this video
Gem after gem for free from Lance, thank you!
Bravo!
very good metric! Staring to code script that will measure my ev 😍
Expected Value is all that matters
damn great stuff per usual. going in my library
You can't really call yourself a trader if all you do is win
Nobody just wins except the buy and hold people who hold in a 9 or 12 or 50 year bull market, because they don’t actually look at the market. Traders gotta WORK to win consistently and to HOLD ONTO their gains.
😎🔥
Aren't all indicators lagging indicators? What is an example of a non-lagging indicator?
Times and sales.
I am always thinking that if most of your traders trading every day with a fixed number of money, I mean, for example, some of you just trade 100$ each time on a day, without using your incurred profit or loss. Is that right? THANKS!
These are good lessons for life, not just for trading 😜
Thanks Lance I very much like your videos great mind Stuff
Gold.
👏🏽👏🏽👏🏽👏🏽👏🏽
Lets get the F to work and get better. I'm gonna remember that always
How do we get hired by your firm?
Yeah but too many red days and back to driving uber I go.
Love this type of video. Also be careful people the spambot scum are here. If it sounds too good to be true.... It will cost you money
Great video,
❤️❤️❤️
🎉
This is complete nonsense....If I can tell if a trade is going to be A/B/C/D then what's the point in dealing with C/D trades? And why then not go all in right at the beginning if you guys can tell?
Easier said then done 🤕
Don't see much difference between p&l and bubble heads, it's sounds the same just named differently , just use monthly/quarterly p&l instead of daily and focus on making your trade right every single time.
He’s a good teacher 🙌🏽🫡💪🏽
Great video