Why some traders succeed | At the Table by Urban Forex Ep.007
All right, all right, all right, good morning, good evening, good afternoon. The next episode of At The Table with Urban Forex and today we have a very interesting topic today where we're going to be talking about some of the qualities that top traders have. What are the qualities what they use and do on a day-to-day basis, what are their rituals what are their routines and what makes them so special that gets them away from the traditional sake of wannabe traders or retail traders or traders who are just going up and down in their P&L whether it's sometimes profitable sometimes losses so what makes a consistently profitable trader and what does he do? So today on the panel with me I have here with me Armand hello, Lucas, hey, and Ian hey everybody. All right hopefully with these sounds you probably recognise their names whenever they're speaking in this in this podcast. So you'll have them here in the panel you're here with me so. To start off guys as you're listening in whether it's from spotify apple itunes or wherever you're tuning in from even if it's on youtube there I want you guys to know that there is also people tuning in Live to hear this podcast so I'm going to start off with you Armand and ask you some questions of what do you think are some of the traits that you as a trader yourself or you have seen other traders that they do that keeps them at the top of the top what what makes them different um i think to start off slow a good quality to have is humbleness uh the ability to accept that sometimes you're going to be wrong sometimes you need to listen to or not sometimes very often you need to listen to their to your mentor and hear what he or she has to say and and you know follow their advice be open to that advice even after you just had a winning trade and you think ah now I got it now I can do it just be open and humble to that be humble that you don't know everything yeah I even just to go off of that point a little bit too even just other traders that you meet because you end up in this industry you talk to a lot of other professionals and maybe they just seen something a little bit different than you that day or like you maybe missed something so to be open-minded enough just to like say hey oh maybe oh I missed that you know thanks you know you can always learn from from someone else in this industry right yeah I think I think I think thanks it's not something really common set amongst traders I think there's something that comes along with trading and that's ego and it's a huge load of ego that comes along with being a trader so I think some traders really have to you know humble themselves down you know otherwise the market is going to do its job yeah it'll bring them back to normal right but that that's it's really interesting and strange at the same time isn't it it's just that I understand that if you want to become an engineer you want to learn from the best you want to become a doctor you want to learn from the best you always are looking to learn and improve but this is this one industry where as you're learning the ego flares up so high that you can't accept you want to learn more you just have to say no I know everything why is that why is it in this industry that is it instagram that's causing this that you know I need to make sure everyone knows that I know what to do and then therefore this rental Ferrari that I'm showing behind me people can really believe that I actually bought it you know like is it is it that is that where do you guys think the ego is coming from for a lot of these traders who are trying to live up to that hype without getting too philosophical but maybe it's also just okay maybe it's getting a little bit philosophical with society telling us to be confident you know you can do it and you know be sure that you can do it and then at the same time you can be confident but you can also confidently say i'm okay at what I do at trading but I still have a lot more to learn that that's still a confident person but it's also a humble person a person who is open to grow yeah there's a fine line between being confident and being ignorant you know yeah I think confidence is yeah confidence is key for sure like you don't get me wrong like to be a good trader you have to have the confidence in yourself and your trades um but it's just keeping that little piece in the back of your mind that you know I'm not gonna be right all the time um and to maybe not carry that over to every trade too like this one happened to go to the moon maybe tomorrow temper your expectations a little bit so you know and then you know just in your shot so okay so that's a good point you bring up there like this one you know today a trade one to the moon and then maybe tomorrow it doesn't but as traders as you know from all of your own personal experiences when you guys started um how did you guys get through this feeling of hey I took a trade it went fantastically and then the next trade I took I was expecting it to go fantastically but it didn't how do you cope with that and what do you think is different from a professional trader when he looks at that is he already pre-prepared for it or do you say he just handles it better through money management or is he is he saying I'm just gonna trail it with my stop-loss and then I'll take whatever I can what do you think is the professional mindset towards that well I think if a lot of it's just coming down to real world experience I don't know if like as a beginner you can get away from making those few mistakes to begin with like I know for myself when I like I've got trades and [ __ ] right where like I say it went to the moon and then the next day I was surprised that it didn't so you I think the key from a professional is to learn to self-reflect on on whether it was a bad trade or a good trade don't take bad trades with you as well learn from whatever it is and try and grow the next day because whatever you do or or you can just lock yourself up in a room and cry that works too sometimes I've tried that that doesn't work apparently it doesn't need to do that a lot like that that doesn't work I need to give my account a boost so i'm i'm gonna spend like three days in a closet crying and then my account started to grow after that yeah that's the that's the golden key that no one's ever talking about on the internet like cry over your losses no Ferrari you don't need Ferraris just need a good cry or you can just cry in your Ferrari and look stupid sure yeah can i pay for this guess now all right okay so would you would you guys say that's another trait of a professional which is that ability to self-reflect to the most core and honest ability it goes hand in hand with that ego part that Armand you were bringing up at the early uh uh Lucas i think who brought a beagle uh Lucas I think you brought it up you brought it up with humbleness right so um yeah so so if the ego is there and then a professional trader is putting himself in check after every self-reflection it's almost contradictory than what a retail trader is probably doing right so it's like the humbleness is super high therefore one can self-reflect but if the humbleness is not there which an average retail person has okay it's he he lacks sorry doesn't have he lacks then it's this ability of no i know it all but I'm still gonna google on the internet I'm still gonna search for something because honestly I know internally I don't know at all but the world must know I know it all what is with this what is with this I think what it is like I think you kind of hit it there that like when you have something that doesn't go your way on a trade a lot of retail traders will just like you say they'll hit google they'll search for a new strategy something else to try or this and that whereas I think a professional will actually be humble enough to reflect how what went wrong with what I did today how like what about the technique I use today can I improve going forward can I fix so I don't make that mistake again not just finding necessarily something else or completely switching it's it's the ability to work on and realise hey I need to improve or I made a mistake this time actually that's actually a very good point you bring up there so so a professional is adding upon that same technique and system and trying to improve upon it versus a normal trader who's saying this doesn't work let's find something else whether it's a new system strategy technique um market uh brokerage mentor signal service it doesn't work move on there is no ability to how do I fine tune right yeah I think a lot of this this thing especially with like retail traders they lack a lot of um self-awareness and they tend to lie to themselves like quite a lot so like what you just said just now in everything you were saying um they were switching strategy from strategy you know thinking one strategy doesn't work so let's go to the next one but they are internally lying to themselves and you know they should have been putting more work to one strategy and trying to master that but one two losses comes along three four losses come along and like ah no this doesn't work for me so i'll switch on to another strategy and same loop happens over and over and over but they're just not working hard but but that okay i get that though because a lot of most people all right most people they don't just you know wake up one day and become traitors you know they they come from a job and then they're becoming traders because they want to leave the job that's generally the leap that they want to do but then here's the thing though in in the job they have that sense of security of money will come and money will come in that once the money doesn't come in they go on tilt in fact the money is going out instead of coming in that causes a mental mental shift so what is it about that that maybe a professional is better at handling why is a professional not have these issues is he not human what what do you think is the key key component there there's a systematic approach to it so we mentioned jumping strategies we mentioned self-reflection and all those things tie in with each other so if you have one strategy that you're working with and then you want to add another one so you have a systematic approach to that you don't just add it to it you just you first test it on a demo account and then you slowly start to add it and then you reflect on that so you reflect on how your performance so self-reflection is with that new strategy before you bring it in with big numbers and that's the difference between well we're all the time we're talking about retail traders but this is you know pretty much all of us at some point we were those those guys who were just jumping strategy no self-reflection bloated ego after a winning trade no humbleness because you think you understand the concept and you actually don't when you put it into practice so yeah it's speaking from experience yeah yeah just so we're speaking from experience it's not just like I mean I think we've all on this panel gone through all of the things at one point in time in our lives it's not just like it's not just um an overnight thing where we just also don't we're just a trader today i mean it took us a lot of time and patience and stuff to to get going yeah and all this stuff and tons of crying in the bathroom as Lucas pointed out just came out of the bathroom not long ago reminiscing remember those days when we used to cry and airplanes are small too right that's why we don't tell everybody watching here is we every friday we all get together on this little zoom call and have a little this is just a humble zoom crying caller all right well okay let let me ask you guys a yes and no question how about this okay so we talked about the average traders right the average trader who is when things don't go right there their way they tend to hop okay which is fine which is fine and it's not it's you know no fault of their own it's just that's what they would do in a job too right if they're in a job they don't like the job things don't look right they'll switch a job right it's only normal to do that so when they're going into a trading system or strategy which they had hopes for and it turns out to be not good after a few attempts it's almost normal that they want to move it's almost normal that they want to move very few people especially in today's day and age right are we we're in the era of if it doesn't work throw it away get a new one we're no longer in our parents or grandparents generation where if things don't work fix it you know yeah if you rip your jeans sew it you know you don't throw away by a new one you know so we're in this generation where we're mentally subconsciously trained to if something doesn't work throw it away just get a new one yeah okay that must be garbage just throw it away try something else try something else yeah so that's why there there is this inability in the average person to fix things that don't work okay to fix things that don't work so i think um a professional definitely has a lot of this under his belt he's willing to fix thing that has holes in them and okay so going with uh the yes and no notion let's say there is a trade okay a trade works fantastically well for the retail trader and for the professional trader what does the retail let's just say the average trader and a pro trader okay let's remove the words retailer institutional doesn't matter so the average trader takes a winning trade and a professional trader takes a winning trade what is the professional trader doing let's talk about that PA I think dude yeah Post Analysis he's still reflecting I think even though it's a good trade he can take the the little win inside us but he's still reflecting he she I should say sorry uh on reflecting on what he could have done better or like what always looking to improve even not just taking that win for granted like oops just gonna do the same thing tomorrow still looking to grow even with that okay all right so he he's looking to self-reflect on it and still be like what what was the qualities of this trade how do i make it better right now even after a winning trade so that's interesting there right all right what about the average trader what is he doing after a winning trade oh he's not even at his desk anymore he's pretty much driving to the club so is that would you say that is a starting fundamental flaw right there yeah and I think Ian already touched a bit on it he mentioned the word growth a few times just now and I think it's growth mindset which is the big difference maybe that's the big defining quality that's a difference between somebody who's just starting out and somebody who's a pro okay okay so so let me ask you this thing next thing okay a professional any walk of life and an average person any walk of life you tell a professional all right I'm gonna take you to the next level it's gonna take you four years what's a professional do oh yeah let's do it let's do it four years put into perspective why not if I'm gonna be better than today you take an average person you tell him four years oh my goodness four years yeah he only has no hands and only two middle fingers he can give me but I'm sure if he had more hands I get a lot more middle fingers pointing at me it's like four years are you are you nuts like no way no way you're telling me I'm gonna make more money than doctors lawyers engineers pilots but four years come on no way how much part I can do lots of partying in four years of my time I'm gonna mess with my friends in those four years I'm not gonna waste it doing that yeah so what what is it but when you look back you're like oh man if I started learning this four years ago I would have saved so much time when you look back it's like four years is not a big deal but why is it so daunting when you look forward and saying whoa four years is a long time what what is this weird mentality why does that happen in the mind why while a professional is like not a big deal I'll do that long term here we go while a average person is looking for short short short short-term gain short-term probability short-term goals i need to be rich right now I need to make all the money in the world right now I Bill Gates needs to come to me and kiss me on the cheek and says here's my all my money take it it's yours now why what is this dream of I want it all now what what is the difference between a professional and the average person I think the simplest answer to that is being able to you know try and delay instant gratification I think that's what pro does a little bit better than average traders um yeah good I'm gonna touch one more piece on that and saying if you take if you take a check one million dollars and you go to a professional and you say I'm gonna give this to you for doing nothing and you take it to the average person and say I'm going to give this to you for doing nothing would you mess with one of them also would you interfere in someone's way of life if you do that and the problem with the pro or the novice the novice person it's guaranteed he's going to take it will the pro take it I feel like I know this now because in my head i'm taking the check give it to me it's like this is my bank account transfer to me if you can't do it I'll give you my bitcoin address like all right that's it I'm going to leave the room now all right no but here's a common thing I've seen a lot I've seen a lot in the market is the the professional trader is constantly saying if I want if I get this now I want to be able to do it again yeah I don't want that one off thing while a average person is happy with the lottery mindset I don't mind a one-off thing I don't mind being suddenly rich but you know what happens when you're suddenly rich you become suddenly poor because rich is not the same as being wealthy richness can be taken away from you overnight wealthy cannot I was going to say like the I think the uh the successful person they may take the money but that's not necessarily their mindset to take the money just to like oh I'm done it's like they still have their goals and their dreams and and things to work I mean they may use the money now for invest it to to help maybe increase the speed of their goals but I still think they have a plan on a solid base and that won't change despite if they get the check or not whereas maybe you know a novice person or someone who doesn't think that way uh would just take it i'm done i don't have to do anything anymore absolutely yeah yeah well what do you say just know about the pro trader yeah it's basically what was going on in my head as well sure you cashed the check right I was thinking about it on the way to the Ferrari dealership while filling gas on the car like yeah sure no but but here's the thing there is this thing there is this burning thing inside a pro trailer that says i need to deserve this while the average trader or the average person does not care about do I deserve this or not they simply think it just needs to come to me so there is no sense of I worked hard for it this needs to come to me regularly because i build my skills for this right it's not just why does all the good things happen to all these other people why doesn't it ever happen to me so hopefully one day when I wake up i'll have a winning trade on EUR/USD and suddenly I'll realize I'm a million dollars more richer that can't happen but it won't stay because there was probably the deals involved try doing it again the next day try doing it again exactly exactly yeah i think it's like the classical story of teaching someone to fish or giving them the fish yeah yeah and if they're vegetarian you're in trouble they won't even think about fishes at that point I don't know what you teach someone to catch that's a vegetarian I don't know what plant you're catching but all right all right so we can clearly see there's some there's some key difference between them now let me ask you guys this thing now let's take it a step further let's take a step further so is the key differences in how they're trading is that the key difference or is the key difference in how they're thinking yeah the approach to trading is completely different completely different completely different one is looking to you know go forward with the shovel if that means that shelf is going to dig a hole first before it paves the way so be it they'll they're willing to figure it out while the other one says hey this thing made a hole i'm out of here here's your trouble back thanks yeah they know it's a grind and that that like a professional is like willing to go through that grind day in day out no matter what it takes have a solid plan and i'm going to stick to that plan until I reach my goals it's not just a one-off thing that I worked hard today and then tomorrow I'm done you know or anything like that kind of mindset absolutely much more fun to learn learn a skill like you get a million dollars and then what are you going to do like it'll turn very boring very fast very very fast I can't tell you like many of these uh trips and stuff I go to and when I when I started having new money back in the day right it was like brand new money I'm coming from a background where I didn't have much money I was renting basements and all that stuff growing up and when I had new money and I'm trying to travel to all these places I'm surrounded by people on the same island like Gordon Ramsay and all these you know you know hi-fi people and I'm seeing the way they live they have their own sense of problems but their problems are so minute their problems are like I'm trying to be better than this problem right now okay when you're surrounded by that you you tend to see there's a whole different mindset that is never taught it's never taught to the average person it's like why aren't you better than the next person what's holding you back except yourself and it's very interesting to have a conversation with all these different random people and you're like hey they just think differently they don't do anything different they just think different you bring that to a professional trader into the trading world he's just bringing that mindset here and saying all right what did I learn how do I improve what did I learn how do I improve and that logic is on loop they're just always trying to make themselves better regardless like they don't care what other people do they don't care yeah that's the thing that's the thing there is no strings attached to what will people say what what do they think you know what is my image now in front of their image you know that's less less likely for the problem for them yeah it's all tunnel vision it's very tunnel vision so um if if you take it a step further and uh you're trying to say okay I'm trying I'm an average trader now okay humbleness has kicked in saw this wonderful webinar of four people on a podcast and I'm listening to them and I've suddenly become humble I want to become pro I've heard of certain sages as well um enlightened people if you want like the Dalai Lama and and and so forth what they generally say is if you align everything in your body mind and actions into a singular purpose then it just happens then it just happens but simply sitting there hoping and dreaming that it's gonna happen it won't happen because that is just one portion of your energy saying I want this to happen for me while one portion of your mind says you're never gonna do that there's no way remember uncle auntie mom dad cousin brother they're all saying stop wasting your time you're gambling and I somehow believe that your energy is split and then your actions you work a little bit I did good work I did two hours of decent work let me watch some netflix your actions don't reflect that energy as well if you're all three or four portions of your energies do not line up towards that one goal it'll take you much longer and your skill set will be much lower than the average person I think you need to get those energies aligned yeah you actually brought up just even the word action honestly um if they take action because I a lot of times it's just a dream or they just think about it so i think the first step is taking action along with those thoughts with a well laid out plan and to keep going with that so yeah I've seen people and know a lot of stories they have big dreams but if you don't at least take that small little step and start you can't really get going if you know what I mean so yeah absolutely absolutely and it's very fascinating to hear all these success stories from a lot of the pro traders out there and seeing what did they go through to reach that stage where they're at and you know the sizes they trade now but that's what we all see right is the sizes they trade now but we don't ever get a chance to imagine but what happened until he get until he or she got to that point that story is extremely painful if you ever ever focus on it it's extremely painful so the question now comes is if you want to be successful and you want to drive that ferrari that's multi-colored rainbow you know you want to do all that stuff that instagram is telling you to do which is fine are you willing to put in the work if not then this is going to be the hardest industry you have ever stepped foot in the hardest industry you have ever stepped foot in because it's you against yourself against the world it's not against an opponent it's against the whole world if you have a tough time believing in yourself try having the whole world against you I think a lot of people don't understand that when they are they're trading they're it's not the market taking money away from them necessarily you know because when you're putting on a trade and when you lose money someone else is making that that same amount of money and that someone else is actually taking money from your pocket you don't see that but it's actually what's happening behind the scenes so it's a very very very competitive game and yeah try I'm trying not to make it too dark but you gotta really work hard when you say dark I just it's just that bathroom and crying keeps coming up in my mind that's all everyone's gonna take away from this webinar remember that podcast about those four guys talking about crying in the bathroom but yeah I'm gonna go right after this podcast but but it is a sad reality but you know if if there's one thing to take away from any of the things that we do in any of the podcasts or any of our webinars is to give you that notion of look you can do it you can do it I never say no one can do it can you know you know the amount of mentors I've met the moment the camera goes off you should see the way they speak there is no love for the student whatsoever they're using the students just to get ahead there's absolutely no love so mentors i don't like to talk to them they're they're a waste of my time there are ways of their own time their ways of life i would say a lot of them are just you know garbage a lot of them are garbage but when you do meet a few people who are willing to teach they're they can't sleep until they know what happened to that guy is he is he doing okay did he do did he understand what he what I taught him when you see stuff like that and then you see the traders putting the work and efforts to become pro you start to see all right he is on his path he'll be all right he'll be all right he's on his path it's going to take some time but he'll be all right but the question comes in is are you willing to put in the work are you willing to go pro or do you want to stay average because if you want more money than the average then you have to be more than the average it's that simple it's that simple has to be better than average correct now what does that even mean like if you think about it if you think about it in today's world a million dollars is nothing anymore okay it used to be a lot of money where everyone's like I wish I could be a millionaire people people are talking hundred billions now okay those are the numbers that are being played around with right now compared to millions okay now take it a step further and think if everyone in your neighborhood is earning millions lives in a nice house that has a pool and everyone drives a mercedes what is your desire going to be to be a little better than them isn't that what the human mind generally wants it's like I don't want a Mercedes I want a Bentley I don't want a house with a pool i want a five-floor house with a helipad or something I don't know like there is this desire to be better than your surrounding okay it's because how that's how we're trained growing up in school your parents enforce it you better be better than the rest of the guys in your school I'm paying a lot of money for you to to compete and with competition comes this desire to be better by comparing to the rest this is also an evolution survival of the fittest make sure you make it so your genes move on they live on they adapt they evolve so this is inbred into us however to be at that next stage above the average person are you in a skill set above the average person or are you just like everybody else flipping through netflix and dreaming and saying one day watch I'm gonna make it but no actions no energy no mindset actually says you're gonna make it there's nothing reflecting you're gonna make it except a simple desire that's locked away in the brain somewhere in the corner that says I wish I can make it yeah and and then to make things sound darker so again I'm gonna call you a black cat man you're gonna be the black of our episodes like no but this this is something I've always been thinking about to use as my own personal motivation yeah so if you think about it like we all know the uh the famous 90 of traders lose in the market so 90 of traders lose and if you're an average so let's say like if you're better than the average you still most likely within that 90 you've got to be extremely good to be on the top 5 or 10 so just being a little bit better than average as a trader still doesn't cut it it doesn't it doesn't I agree I agree it doesn't cut it yeah so let me ask all of you guys this so all of you guys this on the panel plus all of you guys who are watching this live and all of you guys tuning in and listening in I want I'm gonna ask a question I want you guys to all answer it those of you guys who are listening in i can't see your answers just say it out loud say it out loud hopefully no one's near you they might think you're crazy but say it out loud are you willing to be better than right now and if that comes with a bit of conflict and struggle is that okay absolutely yeah without struggle or friction there's no progress and there's no fun either okay I really like how you said that Armand if there is no struggle and you make it you're not going to really enjoy it no there's no gratification or no satisfaction there's no satisfaction because you got it just like that it's like when you when you play a video game that's too easy and after that you feel like well i won but anyone could have won yeah that's why I don't that's why I don't understand when I play with hackers they just you know they hack the game they kill everyone off what's the fun in it right yeah absolutely absolutely it's a it's it's a shortcut way of trying to be better than the rest those shortcut ways genuinely get you into trouble those hackers get banned people with inside trading go to jail like generally those shortcuts get you in trouble you know or taking steroids and going to the olympics yeah you're going to be bored cheat codes are no go yeah yeah so there's this always this everyone's trying to skim and saying i'll take a shortcut i'll take a shortcut why just do it properly why not feel proud that you're in the 95 or in the five i guess i should say um it's a it's a feeling of pride you know like when you like accomplish something like that in my opinion it is it is and as as a traitor that's uh i think the most wonderful feeling is you don't really know the day you get profitable because there's no such thing um when you're trading you're just trying to do your best in trying to survive keep your head above the water and then when you when you're making the money okay um so what we call in in urban forex what we generally like to refer to as the R bucket okay as you're collecting ours from the market from your edge you're taking ours put it in your bucket taking Rs put in your bucket when you have a losing trade you take one R and you give it back saying sorry about that my bad so your your job is when you're collecting those R's you're never satisfied because you don't know if you have to give it back at one point or the other until you get better and better and better but when you're holding on to your like I know these are my wins but I don't know if it's mine yet but time goes on time goes on you improve on your edge you're getting better and you realise hey it's been a long time I didn't touch all those Rs in those bucket I guess they're here to stay so you never know what is that one day you became profitable it just you just don't know it just happens and you're just like hey I'm doing better and better and better last year I did 20 growth this year I did 30 growth now I'm doing 2 a month now I'm doing 4 a week you start to see these improvements and you're like wow I guess it's staying I guess it's stain you need a when you need a cart to carry your bucket of ours then you know you're going somewhere at that point so yeah yeah there you go there you go that will come in handy once you catch that million dollar check for doing nothing you can buy those cards all right so I think this was a very interesting topic I really like how you guys gave your feedbacks around this as well is there anything else you guys want to add to qualities of pro traders versus average traders what makes them different is there anything else you want to add to it I think there's there's a whole list that we it's impossible to go over but I think the easiest answer to that is average traders is clicking a buy button sell button pro traders doing the same I think the only difference there is the mindset and how they what they do prior to the trade and after the trade like what we discussed earlier yes yes I agree I agree the prior and after is missing for many many traders determines what they do during the trade that that's the difference what they do during the trade compared to beginning traders yeah so that's the key key difference if there's one one very specialized key difference it's that and i agree with you guys it is that peace is a normal person he's looking for what does his action do when he's in the trade and what happened to the P&L is very reactive okay I entered the market did this to me or yay it's very reactive you know versus a guy who's coming in as a professional he's like I've trained for this I know what what I'm gonna do it might do this or it might do that way but I'm gonna be prepared for both ways and then the market plays out it's like oh I was expecting that welcome and then afterwards he's doing the preparation for it so his focus is not on what am I going to do in the execution his focus is on what's going to happen how i'm going to trade it and once the trade is done how did I do how can I make this better it has very less to do with the trade itself the plan is so weird isn't it what were you saying sorry sorry I said the plan so prior and the review after that absolutely absolutely Ian you were saying you wanted to add to that oh just saying preparation I guess in a nutshell preparation before and after you know keeps you on your toes for anything and then the correct mindset so because of the two key words I would preparation and mindset or correct very important absolutely absolutely and and and that's what that's what that's the key difference between a professional and the average person so if you're tuning in you're listening in or you're watching this Live I want you to you know take a moment and reflect back on your journey as a trader or as a developing trader if you're just starting off and really think to yourself of am I better than the average person not not to flare up your ego or anything but are you actually better than the average person if the answer in your mind is not a resounding yes then there is more work to do and that more work can only be done if you calm yourself down and have some humility and saying i need to learn more that attitude will get you propelling forward faster than ever but the moment you say I know everything it's game over from this day forward it's game over yeah you might as well save your money and keep it in your wallet because you're not gonna make it now I can imagine the bathroom where everyone's crying is gonna be extremely crowded after this because like everyone's in that bathroom crying like that is not the intention of this podcast the intention is to make sure you you come into this industry real you don't come in with false hopes and pretences of I'm gonna be rich by simply learning a few things here and there and then I'm gonna drive around a Ferrari and then my life is good I never need a boss ever again yeah it all sounds great but why do you not need a boss because you can make better decisions for yourself that's the key you got to get that skill set that's the key not only comes with the ambition or the fire or the hunger to be better tomorrow than you are today that's it that's it so I do this a lot with my prop traders as well and i always ask this question is if you're done with your trading day and 24 hours has passed by ask yourself this question yeah you're learning you're trying to get better but that 24 hours is now gone you are one day older closer to death you're never gonna get that day back what did you do in that day that was worth living for and sacrificing 24 hours for if that's not hard enough for you to really realize that you're spending time into this you better make it worthwhile and not mess around i was going to use other words but I shouldn't do that but if you're not messing around then then it was worth it those 24 hours were well spent you you killed yourself for 24 hours more to do what you're trying to do that's a whole different mindset you're coming and you're saying I died 24 hours more I died literally expired 24 hours more for my goal make sure it's worth it make sure it's worth it it is not for some instagram post make sure it is worth it toilet is pretty much full now the toilet they're crying on the toilets too now come on all right but so i hope this podcast was useful for for for many um and the intention is stay real stay honest with yourself because there's nothing to prove to anybody else except yourself yeah okay the better you treat yourself the better you're gonna be just love yourself do well take care of yourself yeah okay what are yours I want so you can grow yes yes absolutely absolutely so all right so what we're gonna do after this podcast as this podcast is ending we're gonna move this straight into a webinar where we're gonna take this into a more visual approach of the top 3 qualities of traders we're gonna talk about it on charts and some drawings that I'm gonna do where i'm gonna talk about what are the key differences that sets an average trader apart from a professional trader so if you want to watch that webinar those of you guys who are here live just stay online with us we're going to go into that webinar right now and those of you guys who are listening to this podcast if you want to watch that webinar it will be a link surrounding this video or audio file wherever you're tuning in from whether it be on apple or spotify or youtube or wherever you might be tuning in from alright so until next time guys until the next episode thank you guys here in the panel Armand, Lucas and Ian as always it's been a pleasure same thing thank you cheers
2021-07-27 17:35
