Mind Over Markets

Podcast Episode Summary: Psychology of Market Trend Changes & How to Adapt In this episode, we delve into the intricate psychology of navigating shifting market conditions and offer actionable strategies to regain profitability. Hosted by an experienced trader, the episode begins by acknowledging the challenge of transitioning from a familiar market trend to one characterized by volatility. The host emphasizes the need for adaptability in the face of changing dynamics, offering insights gleaned from collaboration with industry experts. Key Points Covered: 1. Recognizing the Shift: Acknowledging the transition from low to high volatility environments. Highlighting the increased need for decisiveness and rapid analysis. 2. Identifying the Pitfalls: Discussing the dangers of complacency in bullish markets. Exploring the impact of comfort zones on trading performance. 3. Implementing Solutions: Advocating for deliberate slowing down and seeking community support during turbulent times. Emphasizing the importance of revisiting and recommitting to trading plans. Recommending back-testing strategies to acclimatize to new market conditions without risking capital. Addressing emotional conflicts and promoting trade reviews for continuous improvement. Advising on adjusting position sizes to mitigate risk while maximizing potential gains. Encouraging traders to embrace the benefits of mastering diverse market conditions. The episode concludes with a message from Damien, underscoring the significance of resilience and adaptability in achieving sustained success amidst market fluctuations. Checkout the TRADEPRO FREE Futures Trading Course here Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Leave me a message or your question on Speakpipe here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

Podcast Episode Summary: "Navigating Psychology of the 6 Stages of Full-Time Trading" In this episode, we delve deep into the unspoken realities of full-time trading, moving through various stages of a trader's career. The conversation begins with a humorous yet poignant clip from Family Guy, highlighting the allure of trading futures and the perception of unlimited wealth. The host shares personal insights and experiences, guiding listeners through the stages of a trader's journey, each accompanied by valuable advice: Stage 1: The Decision to Pursue Full-Time Trading Motivation stems from a desire to escape a disliked job or pursue a dream. Emphasizes the importance of channeling motivation into productivity and perseverance during challenging times. Stage 2: Transitioning to Full-Time Trading A rollercoaster of emotions characterizes this phase, marked by excitement, fear, and self-doubt. Warns against overtrading and stresses the need for focus and growth during this critical period. Stage 3: Achieving Consistent Profits Enjoyment of newfound freedom and success, but with occasional feelings of emptiness. Advocates for continued personal development and growth, despite initial success. Stage 4: Confronting the Dark Side of Success Realization that financial success comes at a cost, including social isolation and health issues. Encourages embracing personal growth and surrounding oneself with positive influences. Stage 5: Seeking Purpose Beyond Trading Recognition that trading alone may not fulfill one's life purpose. Encourages volunteering and reconnecting with personal passions to find fulfillment beyond financial success. Stage 6: Finding Balance and Fulfillment Ultimately reaching a stage of balance between career, purpose, and personal life. Highlights the importance of continuous growth and connection to a greater source. The episode concludes with a reminder that the journey of trading is multifaceted, encompassing both highs and lows. It emphasizes the importance of community and connection among traders, providing support and empowerment along the way. Checkout the TRADEPRO FREE Futures Trading Course here Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Leave me a message or your question on Speakpipe here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

Episode Summary: Riding the Bull: Strategies for Trading at Market Peaks In today's episode, we tackle the exhilarating yet challenging environment of bull markets and how day traders can adapt to capitalize on markets at all-time highs. While bull markets are often viewed as periods of universal profit, the reality for traders can be far more nuanced and demanding. Key Insights: Misconceptions in Bull Markets: We discuss the common fallacies traders encounter during bull markets, including the illusion that "it can't go any higher" and the disconnect between stock market performance and the broader economy. These misconceptions can lead traders to make poorly timed decisions, such as attempting to short the market during its upward trajectory. Challenges of Bull Markets: One of the main hurdles in a bull market is overcoming the sentiment that it's too late to join the trend, which often results in missing out on gains or incurring losses by betting against the momentum. The episode emphasizes the psychological and strategic struggles of staying on the right side of the market. Understanding Market Dynamics: We clarify that the stock market's movement is not always indicative of the underlying economy's health and that factors like dealer gamma can influence aggressive buying. The focus for traders should be on profitability, not on being right about market direction. Strategies for Trading Bull Markets: Accept Imperfect Entries: Recognize that textbook entries are rare in bull markets. Be prepared to enter trades that may feel riskier due to their timing. Adjust Risk and Position Size: Mitigate the discomfort of "buying high" by reducing your risk capital and trading size accordingly. Follow the Trend: Resist the urge to predict a peak and short the market too early. Instead, align your trades with the prevailing upward trend. Discipline Over Impulse: Avoid the temptation to seek a short position as your initial move. Stay disciplined and rational, focusing on the market's current behavior rather than on speculative reversals. Know When to Step Back: If you miss multiple opportunities to capitalize on trend extensions, it may be a sign to call it a day. Recognizing that markets trend only 30% of the time can help set realistic expectations. Emotional Management: For those who find bull markets particularly stressful, we suggest finding alternative activities to trading on those days. Preserving your psychological well-being and maintaining discipline are crucial for long-term success. This episode serves as a comprehensive guide for day traders navigating the high seas of bull markets. By adjusting expectations, strategies, and mindset, traders can position themselves to take advantage of the opportunities these market conditions offer, while also safeguarding against common pitfalls. Remember, success in trading comes from disciplined execution and the ability to adapt to the market's rhythm, especially during its most exuberant phases.

Episode Summary: Understanding How Personality Types Can Impact Your Trading In episode #113, we delve into a topic that has been on our radar since the inception of the show - the fascinating interplay between personality types and trading success. Acknowledging the complexity of the subject, we decide to narrow our focus to how specific personality traits, particularly those identified by the Myers-Briggs Type Indicator (MBTI), impact trading behaviors and strategies. Our host shares a personal journey of transformation, from being an EJTP to evolving into an ENTP personality type after undergoing an NLP parts integration. This transition underscores the fluidity of our personalities and their influence on our trading approach. Key Highlights: - **ENTP Personality in Trading**: Representing just 3.6% of the population, ENTPs are known for their creativity, flexibility, and charisma. These traits contribute to their natural aptitude for trading, allowing them to navigate the markets with innovative strategies and a quick-witted approach to problem-solving. - **Strengths of ENTPs**: The episode explores the entrepreneurial spirit, friendliness, resourcefulness, independence, and goal-oriented nature of ENTP traders. These strengths position them well for roles that demand foresight, negotiation skills, and the ability to adapt to rapidly changing environments. - **Addressing ENTP Weaknesses**: Despite their strengths, ENTP traders also face challenges, such as being perceived as egocentric or rebellious, struggling with organization, appearing argumentative, and sometimes lacking focus. The discussion offers insights into leveraging these traits positively, especially in leadership roles and self-guided jobs. - **Ideal Careers for ENTPs**: Stock trading is highlighted as a fitting career for ENTPs, thanks to their ability to think on their feet and engage in strategic negotiation. Engineering is another recommended path, aligning with their problem-solving skills and innovative thinking. - **Potential Challenges for Traders Based on Personality**: The episode also touches on traits that might pose challenges in trading, such as emotional decision-making, risk aversion, impulsivity, and overanalysis. These characteristics are linked to specific MBTI preferences and could impact trading efficiency. - **Personal Growth and Trading**: The episode closes with a powerful message on self-awareness and personal growth. Understanding one's current personality type is crucial, but it's also important to recognize the potential for change. By becoming more aware of their traits, traders can identify triggers leading to negative outcomes and adopt strategies to mitigate these risks. Listeners are encouraged to explore their own MBTI personality types and reflect on how their unique traits influence their trading behaviors. This self-exploration is not about restricting oneself to a box but about leveraging personal insights to enhance trading strategies and overall market performance. This episode is not just a deep dive into the relationship between personality and trading but also a call to action for traders to engage in self-discovery, aiming for a deeper understanding of how their personal traits can shape their path to trading success. Checkout the TRADEPRO FREE Futures Trading Course here Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Leave me a message or your question on Speakpipe here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

Episode Summary: 5 Signs You Should Stop Trading for the Day (How I Lost $50K) In today's episode, we tackle a topic that many traders shy away from - the bad days, those sessions filled with regret and what we wish we could forget. However, our focus isn't on the negativity but on the invaluable lessons learned from these challenging experiences. We aim to equip you with the knowledge and signs to recognize when it's time to step back and halt trading for the day, preventing a bad day from spiraling out of control. We start by identifying 5 critical signs that it's time to stop trading for the day: Feeling a Compulsion to Make Money: The moment trading becomes a necessity rather than a calculated decision, it's a signal to pause. Frustration with Market Inactivity: Impatience for market movement or force-fitting trades can lead to poor decision-making. Chasing Losses: Trading with the sole aim of recovering losses often leads to more significant setbacks. Reliance on External Decisions: Looking to others for trading decisions indicates a loss of confidence in your own trading plan. Consistent Directional Trading or Flip-Flopping: Repeatedly trading in one direction or frequently changing opinions signals emotional rather than rational trading. Through a personal anecdote, our host shares the story of their worst trading day ever, highlighting how quickly a seemingly good day can turn disastrous. Beginning with an overleveraged position and culminating in a staggering $45K loss plus significant commissions, this story serves as a powerful reminder of the dangers of rule-breaking and emotional trading. The aftermath of this day wasn't just financial but deeply psychological, taking a year to overcome the mental toll and reshape a healthier trading mindset. This episode is a stark reminder that no trader is immune to bad days. However, it's not the setbacks that define us but how we respond to them. Recognizing the signs to stop trading and understanding the importance of discipline and mental health in trading are crucial steps toward recovery and future success. Key takeaways include the importance of adhering to your trading plan, the necessity of recognizing when to step back, and the understanding that stopping is not a sign of weakness but a strategic decision to protect both your capital and mental well-being. Remember, the market will be there tomorrow, but the opportunity to trade wisely depends on the decisions you make today. Checkout the TRADEPRO FREE Futures Trading Course here Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Leave me a message or your question on Speakpipe here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

Episode Summary: Why Holding Winning Trades is So Difficult (10 Steps to Fix) In this insightful episode, we delve into the complex psychology behind one of the trading industry's most echoed mantras: "Run your winners and cut your losses." While this advice may seem straightforward, the reality of implementing it is anything but simple, especially for those new to trading or struggling to turn a profit. Our discussion kicks off by exploring why holding onto trades is inherently challenging, even for professional traders, who focus on the present rather than predicting the future with zero certainty. We uncover the primal psychology driving our difficulty in letting go of trades, linking it to our instinctual need for security and survival. This subconscious directive, honed over thousands of years, significantly influences our trading decisions, often leading to stress and irrational choices when faced with the perceived risk of a trade. The episode then shifts towards practical strategies to overcome this primal fear. We emphasize the importance of maintaining an active source of income outside trading to alleviate survival pressures. By breaking the association of trading with survival risk, traders can approach the market more rationally. We recommend starting with the smallest position sizes, focusing on modest wins, and gradually extending the duration of profitable trades as confidence and experience grow. Moreover, we discuss the value of backtesting and creating mental reset anchors, such as meditation or engaging in relaxing activities, to help manage emotional responses during trading. Building a long-term investment strategy is also highlighted as a way to mitigate survival fears over time. Acknowledging the inconvenient truth that the market's next move is inherently unpredictable, we encourage traders to embrace this uncertainty as a normal part of trading. Personal development and expanding one’s mindset are underscored as crucial for growing wealth consciousness and achieving trading success. Concluding the episode, we reiterate that while the concept of running winners and cutting losses may sound simple, the emotional and psychological hurdles make it a complex skill to master. However, with determination, patience, and the right strategies, traders can learn to navigate these challenges, transforming their trading journey from a battle for survival into a path towards financial freedom. Get out there and hunt!   Checkout the TRADEPRO FREE Futures Trading Course here Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

Episode Summary: When to Trust Your Intuition in Trading (How to Develop It) In this special episode #111, a number often associated with guidance and enlightenment, we dive into the intriguing intersection of intuition and trading. This episode explores the concept of angel number 111, highlighting its message of seeking guidance to fulfill one's life purpose and the promise of happiness, abundance, and success it brings. It's a fitting backdrop as we delve into the nuanced art of using intuition to make better decisions, surpassing the capabilities of the analytical mind. However, the journey to effectively harnessing intuition in trading is not without its challenges. We emphasize the critical need for experience and training before relying on intuition. Initially, intuition might lead you astray, especially in fields where you lack expertise, such as trading. This is because intuition operates as a rapid decision-making tool based on your accumulated experiences and knowledge. For newcomers, intuition may offer advice opposite of what is beneficial, reflecting the risk-averse decision-making patterns ingrained by societal norms. To navigate this, we lay out a roadmap for integrating intuition into your trading strategy. Starting without intuition is advised for beginners, focusing instead on developing a solid strategy, practicing on simulations or with microtransactions. A checklist or trading plan becomes essential during this phase, acting as a tangible guide to discipline and patience in your trading endeavors. The shift towards trusting your intuition comes with time and experience. It's a moment marked by your ability to execute trades and analyze markets without heavily relying on your checklist, indicating that your intuition has been honed by hours of conscious practice and experience. This transition signifies that intuition is now informed by a rich database of trading experiences, making it a valuable ally rather than a gamble. In the episode, we also share personal insights into the transformation that occurs when intuition, shaped by thousands of trades and extensive market experience, begins to lead decision-making. The culmination of this journey is a trading approach that may seem unstructured to outsiders but is deeply rooted in a vast reservoir of strategies and experiences, from market cycles to geopolitical events. In essence, this episode not only demystifies the role of intuition in trading but also provides a practical guide for developing and trusting your intuitive sense. It underscores the message that with patience, practice, and the right approach, intuition can evolve to be a powerful tool in a trader's arsenal, leading to informed and inspired trading decisions. Checkout the TRADEPRO FREE Futures Trading Course here Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

Mind Over Markets Podcast Show Notes Summary: Episode - "The Hard Realization that Once You’re a Trader, You’re a Trader Forever” CLICK TO SHARE YOUR FEEDBACK HERE Host: George Papazov. Trading experience: 24 years. Founder of TRADEPRO Academy. Highlights the global community of traders at TRADEPRO Academy.   Podcast Is Back: Explanation for the 2-year hiatus. Recognition of the podcast's top 1% ranking in Spotify's yearly wrapped numbers. Emotional reaction to podcast success. Humorous denial of tears due to traders being "emotionless robots." Announcement: "I'M BACK!"   Future Plans: Return to a weekly schedule, every Thursday at 3 AM EST. Focus on trading psychology, order flow technicals, performance, and wholesome content. Initial solo-style episodes for audience feedback.   Engagement and Interaction: Audience encouraged to give the podcast a chance and provide feedback. Introduction of a platform for questions and feedback: speakpipe.com/himom. Host's Journey:   Insight into the host's last two years. Pursuit of childhood dream in music. Pause in music career after a friend's tragic accident in 2003. Mid-life crisis decision to try music after 20 years of trading. Creation of a studio and production of songs with significant streaming success (400,000+ streams).   Comparison of Trading and Music: Acknowledgment of the challenges in the music business. Recognition that trading offers faster and more consistent income compared to music. Lifestyle impact of the music industry, affecting family life and health.   The Pull of Trading: Financial aspects and the devaluation of money after successful trading. Lifestyle comparison with the studio life, its impact on sleep patterns, and overall well-being. Missed connection with the trading community and the challenges of the markets. Return to Trading:   Acknowledgment of trading's difficulty. The unique aspect of trading where once profitable, the skill remains. Reflection on the limitless opportunities trading provides, contrasting with other professions. Personal realization: "Once a trader, always a trader." Closing and Future Podcasts:   Acknowledgment of trading enabling the pursuit of a childhood dream in music. Comfort provided by trading as a safety blanket for exploring other interests. Acknowledgment of discomfort when straying from trading and the commitment to never lose touch again. Upcoming deep dives into trading and psychology topics. Call to action for audience participation: send voice notes on experiences and topic requests.     Expression of gratitude and love to the audience. Promise to continue creating content for and with the audience. Call to action: Leave a review on iTunes. Invitation to join the TRADEPRO Academy community at www.tradeproacademy.com. Closing Signature: "Sending you love, joy, health, and happiness, until next time." "Love you."   Checkout the TRADEPRO FREE Futures Trading Course here Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

Want to learn how to find out what traders are doing?  This is called following the smart money, and order flow is a key analysis tool to help you gain an edge on the market. In today’s episode Leo and I discuss our trading into the end of the year, and openly share some of our personal struggles with our trading.  More importantly, we go into details on finding the problem and helping each other fix the issues. We then move into the topic of using the DOM (or price ladder).  This is a tool that allows you to see EVERY order that trades through the book.  This is a big advantage to find continuation or turning points in the stock market, and to trade with the momentum. We get down into the nitty gritty details of how to use this tool, and discuss the following in this episode: What is the Order Book Visible Liquidity Big Inventory as a Magnet / Target Why is a big sell order above a bullish thing? Why is a big buy order below a bearish thing? Hidden Liquidity This was an incredibly fun episode to record with Leo, an amazing trader and all round great person to talk trading with. We look forward to seeing you at our third installment of Between the Spread series on our podcast.  Just a reminder, new episodes of the series are released on the first Thursday of each month. Thank you so much for listening and have a wonderful day. Resources Follow LEO on Twitter here LEO's DOM here. Checkout the TRADEPRO Futures & Order Flow Course here Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

A trading strategy is critical to your success, but do you know the process to create one? Every day we hear someone telling us that WE NEED a trading strategy.  So much emphasis is put on this topic, that new traders rush the process and are doomed from the beginning. In today’s episode, we really dive deep into the process you should follow to refine your idea into a professional trading strategy.  It isn’t just about having an idea and then going to SIM to start “testing”.   In this episode, I give you the complete steps to ensure that you create a strategy that works, because it is battle-tested and aligned TO YOU as the operator. Here is an overview of the strategy creation process: Start with an idea. Create a one-pager.  Back-test with software. A/RS - Analyze then Reiterate or Scrap  Live test in SIM. A/RS - Analyze then Reiterate or Scrap Live test with real money, small scale. Review and create a scaling plan. Trade, Review & Adjust If you follow this process, along with the notes in the podcast episode, you will find the flaws in the strategy long before you commit real money to it. This means that you will have all the confidence in the system and yourself by the time it passes the stringent quality control in the process above.   You WILL FINALLY find your edge and yourself as a trader - and that should be extremely exciting to you. Lastly, as promised, here is the “idea one-pager” I started with this holiday season to back test the 30-second opening range.  I have since made MANY changes in qualifiers and avoided the infamous chop that comes with this age old strategy. The point is, you get an idea for a starting ground FOR YOUR next trading idea. Thank you for listening, and have an amazing rest of your day. Resources Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

Today we talk about the art of building and sustaining performance like a top athlete.  I discuss 10 TIPS to get you to step into the mindset of a top performer.   Think of the greatest things in life you have ever accomplished so far?  What are you most proud of?  Was it easy to get?  Was it any easier after you accomplished that thing? Now here’s the real question, if you’re gonna achieve more amazing things, do you REALLY believe it’s gonna get easier? NO! The truth is peak performance requires constant effort and energy to sustain.  You are never really at the top, even when OTHERS think you are.  You need constant work, internal motivation, and an obsessive desire for success. Here are 10 tips to help you channel that high-performance energy into your trading: It never gets easier, you only get stronger.  You don’t deserve to coast. You can’t just get back to peak performance, you have to work hard to STAY THERE!  Your body is your vehicle, it’s your temple, it’s a miracle - treat it well.   Your mind is a miracle.  Have an offseason, use it wisely.  Know when it’s game time, and go hard.   Look back and see how far you’ve come.  The past will never be, the future may never come as you expect it. Live in the moment. Learn to receive.  Whether you like it or not, as a trader, you are in the business of extreme performance.  You need to constantly work on yourself to maintain a high level of success, because your competition is doing that and more.   The EDGE in your trading that YOU are looking for IS YOU! Happy trading everyone. Resources Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

In this episode Leo and myself talk about the most foundational concept of order flow trading in futures - the time and sales.  This is also called “reading the tape”.  This is a brand new segment we will be co-hosting and airing together the first Thursday of every month, where we will discuss a new order flow topic each month. For the first ever episode of our Between the Spread order flow series, we went in depth on these topics and much more: Market Receipts or (fills) - why it is important to follow these transactions and what information they reveal about large position traders Order Types - breaking down the types of orders retail and professional traders use and how they impact the time and sales and order flow At Ask - a market buyer matches with a limit seller At Bid - a market sellers matches with a limit buyer Above Ask - a big market buyer purchases all available limits and flips to next level to trade with more inventory Below Bid - a big market seller eats all the best bids and flips down to next level to trade with more inventory Above/Below = Sweeps/Aggression/MarketOrders - learning the foundational importance of what sweep orders are and how they indicate an important market sentiment - this will shock you and is opposite of what you think it means.  This is why traders often use it so wrong. Aggression (responsive) - the concept of how to see aggression in the time and sales and what it means for the current trend and sentiment Absorption (passive) -  how to find market absorption and when it can mean the trend will continue, or when it is expected to reverse Speed (how fast orders are coming through) - Gives idea or sense of potential velocity of the upcoming move. How to spot? Aggression / Absorption / Speed - applicable examples of how Leo and George use this information to form an edge in their trading strategies. How to respond once you’ve spotted? This could really be a full on lesson in any order flow day trading course, but we are here to provide information to you so you can get started with reading the time and sales. It was a blast to record with Leo, and be sure to check him out on Twitter (link below).  We are extremely excited to keep this series going and the future episodes we have planned are gonna blow your mind. We need your help though, please leave us a rating and review on iTunes if you love the show so we can bring you more great content. Thank you for listening, we’ll see you next time. Resources Follow LEO on Twitter here Checkout the TRADEPRO Futures & Order Flow Course here Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

In today’s episode I’ll be talking about an exciting topic - what happens when you start making money in the markets?  What ways can you generate income streams outside of trading with your profits?  We’ll dive into principles of income generation, active and passive source ideas, and I reveal all my income streams on this show.   Let’s start out by the only two ways you can use to earn income, and it’s important to understand which one will work with your lifestyle at the moment. There are also only two real ways to actively earn income Trade your time for money  This is where most people make their “income” These are salary jobs that pay you fixed annual income In exchange you offer your time, your health You exchange what ELSE you would rather be doing The perception here is that “risk is low” Financially, there is a low risk BUT you are also giving up all and any opportunity to make MORE NOT ALWAYS - look at Bezos, as CEO he traded his time, for LOTS OF MONEY But his net worth DID NOT grow from his salary, but his equity stake - which is an investment in Amazon stock  Trade your money for the opportunity to make more money  This is how generational wealth is created We will all need to become investors at some point Especially if we become great day traders (make lots of money with small money) In the graphic below, courtesy of MotivationalSpeaks.com, you can see a comparison of how the wealthy spend their time and money, compared to those people without the money mindset habits.  I don’t like the word “poor”, but I think the graphic really helps you compare the mindset of each type of individual. SOURCE: MotivationalSpeaks.com In the episode, we also discussed some active and passive sources of income.  These are just ideas, and by no means an exhaustive or complete list. This should just get your gears turning and get you thinking.  The most important thing to consider is what type of income source will work for you RIGHT NOW.  It takes time and grinding with active sources until you can accumulate some savings to put the money to work.  However, we are always working actively - at any stage of our career and life. ACTIVE SOURCES Affiliate marketing Flip retail products Start a drop shipping business Create an app / business Create a blog or YouTube channel Rent out your home short-term Rent out useful household items Provide work on freelancing website Monetize your hobbies - photography, video editing, etc PASSIVE SOURCES Rental income Peer-to-peer lending Dividend stocks REITs Purchase private company ownership stake Advertise on your car And lastly, here is my personal list of income streams at the moment. I talked about each in detail, and how I plan to expand the streams in the upcoming year. My Personal Income Streams Rental properties Shareholder in private businesses - capital gain and royalty streams Shareholder of TRADEPRO Academy - active income stream Crypto node ownership Stock market portfolio - outsourced Affiliate partnerships for products I SUPPORT! Never those I don’t. That is all for this episode, I hope you enjoy the listen and learn a ton. No matter what stage of life you are in, there is always the opportunity to earn more income, and plan your next big ideas and investments. Thank you for supporting our podcast; I wish you health, happiness and great trading! Resources Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

Day trading with hotkeys is an amazing way to increase your speed advantage and to get a better handle on your execution.  I personally don't day trade without them anymore. However, hotkeys are often used the wrong way and at the wrong time of a trader’s development journey.   In this episode, I cover these topics and more on hotkeys for day trading: Who should NOT be using hotkeys yet Questions to ask yourself to determine if you can benefit from a faster workflow Hotkeys I use for daytrading, explained one by one The software and hotkey hardware I use for super quick trading Step by step process on how to setup hotkeys for any trading platform One of the most important things to know from the very beginning, is that hotkey trading WILL CHANGE YOUR TRADING, and it could be for better or worse.  It is very important you are only using them when you are ready, and when you have a solid trading plan with a definable edge.   I would strongly NOT recommend hotkeys for any traders who are dealing with: Traders working on their impulsive and emotional trades Someone who doesn’t have a trading plan yet Swing and longer time frame traders - don’t need the speed edge New traders - it’s important to do the actions and steps yourself at first If you aren’t profitable WITHOUT hotkeys, they won’t be the holy grail - they are just assistive technology If you’ve decided you are ready to take this leap and setup your hotkeys, I’ve included some great questions to ask yourself to identify areas where you can implement hotkeys. Questions to Help You Uncover Trading Hotkey Opportunities Do you ever find that you are missing trades because you cannot get in fast enough? If so - you need trade entry hot keys - either markets or limits Is it hard for you to move your stop loss as you scramble around the price ladder or chart to find where it is and drag it up / down?  If so - stop trailing hotkeys - trail to BE is one I use. Do you find it hard to move multiple contract stops to one price level, or take profits? If so - move stop and move target hotkeys are great. Do you sometimes get into trades because you couldn’t cancel your order fast enough? If so - cancel limits Do you ever wish you could get out of trades quicker?  If so - market exit. Do you ever wish you can switch between chart drawing tools on your platform? Do you find yourself doing any repetitive, time consuming tasks overall? And as promised on the episode, here is a look at my hotkey mapping on my StreamDeck device.   Remember, this is for Sierra Charts, and your trading platform may not provide some of this functionality.  It is important to check with your platform first, and identify what can be created into a shortcut, and ultimately mapped to a hotkey. I hope you enjoyed this episode as much as I did recording it. Happy hotkey day trading, and I’d love to hear from you - how has this process helped you make your trading more efficient?  Are you planning to use hotkeys, which ones did you decide to go with? Happy trading - and remember, manage that risk and trade like a TRADEPRO. Resources Purchase the 15 key Elgato Stream Deck mentioned in the podcast HERE Purchase the 30 key Elgato Stream Deck XL mentioned in the podcast HERE Checkout this gaming mouse with 20 programmable hot keys built in HERE Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

Do you blow out accounts in one day after days, weeks or even months of success?  This is a very common problem for the new trader. I know, because I have been there, and certainly done that.  The good news is, that it is fixable, if you are daring to get to the actual ROOT cause of the issue. The reality of this situation is, that it really only comes down to only 2 possible reasons this is happening: There is a lack of discipline in you as the operator - often this is a mindset issue (more later) -  There is no strategy (or you’re not following it) and you got lucky - it isn’t that YOU MADE THE MONEY, it’s that it was borrowed and with a long  enough timeline it was destined to go back to the market Now the second one is very easy to fix, but ONLY after you have addressed the root cause for your lack of discipline in trading.   Lack of discipline is often blamed as the cause of losing money in the market.  However, lack of discipline is actually THE SYMPTOM.  The actual cause is deeper than that. Often times, the “lack of discipline” is a physical manifestation of one of these deeper rooted issues: Conflicting wealth values / money mindset Lack mindset - self worth Fear of of losing, risk avoidance Fear of failing Fear of succeeding Doing it for wrong reasons The hard part about either of these, is having to admit this to yourself and accepting the responsibility to change it. In this episode I share some key questions you can ask yourself to uncover what is the real cause that’s causing you to blowout your account after stringing together some success. I really hope you enjoy listening to this episode as much as I did recording it. As traders we are always working on ourselves, and this is a great opportunity to take your development to the next level. As always, manage that risk and trade like a TRADEPRO. Resources Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

In today's episode, I talk about taking a small account challenge to get my discipline and confidence back as a trader.   I will also share with you some signs it might be time for you to take a new account challenge, and finish off with some tips for growing small accounts.  No matter what stage of your journey you are on, this episode is designed to help you. I started on October 11th (made a mistake in the recording saying I began on the 15th) with $464 USD and turned it to over $11,000 USD in under two weeks.  I will share the statements on this as well to give you a deeper look. Here was my plan. Execute only high probability trades Get in with conviction, get out early when you have the profit - take it and run If I lost just $164 USD, which is just 3 points on ES, I’d be out of margin I would then flip to micros, and work the balance up until I can do one ES Repeat this process until I build some cushion, then scale up to 2 lots, etc The goal of this was: Get back to the basics Get back to experiencing what it’s like to have little room for error Reconnect with myself when I started this journey Build up my discipline  Focus just on the process, eliminate the profit obsession - not matter what happens, it was gonna be small - and that felt reassuring Inspire others that their small account, is not small at all - and big things are possible Make $1,000 USD a day with this small account once I hit $2000 balance The results: Started with $464 on October 15th, 2021 Grew it to over $11,000 by October 27th, the date of this recording The goal was always to get to $10K at least, then re-assess I hit the landmark, and I’m considering if I should stop here Or keep working this account until it hits my regular account size Here are some signs that could suggest it is time for YOU to try a new small account challenge: If you are having big green days, but paying a lot more in commission If you are using your size to get out of trouble on bad days often If you find that you are obsessions over profit, and “NEED” to make certain targets If you are trading outside of your plan, and it’s working for now If your discipline is slipping, but you’re still doing okay If you’ve really lost it, and in a rut of a losing streak If you are super stressed out or burned out, and just need to take a break If you have had a life changing event and want to get back into the groove This is basically like a cool down, or warm up lap on the track Tips for Growing a Small Account A small account is not an insignificant account, with the right attitude and strategy, it can grow much quicker than YOU even think At the beginning, when you’re dealing with contributed capital, scratch your way out of losing trades before they hit full stops - you can always try them again Take profit when you have it, even if it looks early - always get paid Review your performance metrics, but NOT total profit, who cares, it’s gonna be small, focus on more rounded performance metrics (EP 93 - Performance Metrics You Need to be Using) Never yolo or swing for the fences, when you trade small you can’t afford to trade big, ever Don’t be afraid to scale up your position size, but have a target first - for me I went to 2 lots when I hit $1000, and 3 lots above $2,000 account size. Then I scaled up. Have a position size reduction threshold, if you lose 50% of the profits since you started, even though you are trading small - gear down more, go to micros if you have to ALWAYS FOCUS ON PROCESS, if you find yourself gawking at the profit, stop trading End a losing day quickly - if you are down, or feel like you’ll be down, trust your instinct and don’t trade anymore Learn to protect what you got, not chase what you don’t Here are some of the statements from my small account journey: The first image below is the first 4 days of the challenge.  I was lucky enough to start with decent volatility and was able to take some great trades on day one, which got me started on the right foot.  Again, part of this is luck regarding the market conditions, but I give credit to myself for stepping on these conditions and taking advantage. I was trading really well in the first few days. And the second screenshot is a brokerage statement from AMP, when I decided to close out the challenge after exceeding the initial goal of $10,000 - quicker than I expected, but I had gotten the learning lessons I was hoping for. Also, I was ready to go back to trading slightly bigger as we had some great economic events coming up that would present some amazing volatility, and ultimately opportunity. Here are the performance stats from Sierra Charts for the small account challenge, spanning the entire period - cumulatively and excluding commission (broker statements above included commission): Resources Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

In today’s episode, I’ll be talking about the victim mindset and how it silently but very quickly and effectively decimates trading accounts. I will walk you through 6 signs you may be in a victim mindset, plus ONE, and ONLY ONE simple thing you NEED to DO NOW to get out of this mindset and turn your entire life around.   This is all about escaping the shackles of victimhood and stepping into a powerful and abundant version of YOU. To become a better trader and human being. This episode is game changing. We dive into the following topics: Avoiding responsibility  Not seeking possible solutions A sense of powerlessness Negative self-talk and self-sabotage Lack of self-confidence Frustration, anger, and resentment Also we discuss some BIG ways that victimization creeps into your trading and how you can spot this crippling behavior so you can eliminate it FAST. Plus I share the simple solution with you to shift out of the victim mindset in your trading, and how to turn the corner and become a success machine. This is a must listen episode to boost your trading psychology and success mindset. Enjoy the episode, and thank you for listening and your support. Resources Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

We made it to episode 100! Today we have two episodes into one, where Victorio and myself take turns asking each other 10 trading questions, and 10 funny questions designed to embarrass one another and share a good laugh. I want to thank you for listening, and for helping make the podcast a success.  Without YOU, there would be no Mind over Markets, or anything else. So from the bottom of my heart, a big THANK YOU! In the first half, Victorio and I discuss: Trading through the COVID crises and how we adjusted What we think the future of trading will be Victorios trading strategy, including entry and exits How new traders should start their journey, but few do If everyone can be a trader - the answer will surprise you In the second half, things get fun and the roast commences. Victorio and I ask each other funny questions designed to reveal a side of us you would never know from our trading content.   We talk about fun things like: Why Victorio IS actually a robot How his bike wheels were stolen, and he ran into the thief minutes later Why Vic keeps cutting and growing his beard so often Why George has horrible style and owns 7 pairs of the same slippers Victorio’s WORST pickup line at a bar - that actually worked And MUCH MUCH more, funny and revealing things It was an incredibly fun podcast to record, for our 100th podcast milestone. Thank you for supporting us on this journey, and helping make our show a success.  We love you all and look forward to continuing to provide the best trading content in the universe for the next 900 episodes!   Onwards and upwards TRADEPROs. Resources Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

Anthony Drager discusses his personal trading strategy and how he executes on order flow in the futures market. He draws on some fascinating experience from the trading floor and his transition to electronic trading at a prop firm.  In this episode we get personal and ask him questions about HIS trading. This episode touched on some amazing golden nuggets you won’t want to miss: Ready, aim fire - three step trading approach Anthony uses We hone in on his personal trade entry and exit strategies Nothing is gonna go up that’s expensive Nothing is gonna go down that’s cheap What to do instead of starting the day with a bias How to make more money in trading without catching bigger moves How to fund your account with the amount of money that’s right for you How long professional traders have to start performing or be fired - the answer WILL shock you You didn’t start trading when you thought you did - this will get you thinking deeply, guaranteed Biggest winning and losing days revealed We love having Anthony on the show, and thank him for opening up about his personal trading and sharing so much value with our listeners. If you want to get a hold of Anthony: Edge Trading Group website Edge Trading Group Twitter page   Edge Trading Group YouTube channel  Thank you for listening. Resources Checkout Edge Trading Group video about Iceberg orders here. Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here

In this fascinating episode we talk about how buying and selling actually moves the markets.  This isn’t an indicator or strategy, this is the VERY REASON that MARKETS MOVE! We do a deep dive on market and limit orders, and how big position traders move through the book.  When you understand what you are watching for, it gives you high probability trades with little risk when you see it happen.  This is the true power of order flow. Find out more about: How to find desperate buyers and sellers Reading level 2 like a professional order flow trader What truly moves markets, and exactly how it is done How institutional traders work huge positions Finding high probability, low risk trade setups on a daily basis Why retail traders always buy the extremes and get stopped out How to find good trend entries, and good trend reversals using order flow PLUS an example of a trader working a big order for a client This episode is a must listen for every trader, because when you understand how large positions are executed, you will understand what truly moves the market.   Imagine being able to know with certainty when institutions are either dumping or accumulating massive positions? What power do you think this WILL have for your trading?   Enjoy this episode, it is by far one of my favorite and most impactful I have recorded. Resources Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here