1. Adaptation: It's important for Traders to be adaptable. We must learn how to let go of bias, indicators, beliefs and prejudice - just looking at the raw data and being able to adapt with it in real time - in order to be consistently profitable as traders.
2. Breaking Rules: We tend to break our own rules when we don't have confidence in our strategy, out of boredom, gut feelings or physiological changes. We can harness these impulses by opening our minds, increasing awareness and re-positioning so we can develop trust in ourselves.
3. Dreams vs Demons: Our dreams are what sustain us, but those dreams can turn into demons, triggered when we have a deep need to be successful, When things go wrong we can end up devastated.
4. Fixing Your Thoughts and Actions: Each of us is unique in how we trade and what type of market we trade best. All well and good, until the markets don't act the way we've come to expect and our strategy no longer works as well. Learning to recognize Market Moods can be a great help in knowing when to adjust strategy to match the market.
5. Mental Energy: Studies have shown that the lack of sleep affects our judgement and energy. Other factors are nutrition, physiology, exercise and breathing. Energy is not something you create, its an abundant state of mind, being constantly in a state of flow.
6. Money Magic: As traders, our relationship with money is of extreme importance to our success, and unfortunately, often dysfunctional. Most traders are surprised at how much this relationship affects their day to day trading.
7. Outside Events: Unexpected bills, food budget, your kid's tuition, etc. are all outside events that can affect your trading, causing you to lose focus. Tools and techniques to help neutralize these effects.
8. The Sacred Bubble: Stepping into a winning trader's state of mind which helps change our viewpoint and how we behave during market activity. A key component in the journey to stop fighting our own brain and having a clear vision of what we want and how to get it.
9. Tracking Goals: Tracking your progress on the road to consistent profitability is an important part of success as a trader. Learn about helpful visual progress tracking.
10. Winning Trade Confidence: Trying to build confidence after a losing day is a debilitating shift to make that can impact your self-esteem and self-worth. You need to develop a consistent strategy that will get you to a state of mind where you're happy with the outcome - because you can learn from your losses without having to work so hard to pick yourself up after a series of losing trades.
Richard Friesen is the founder and CEO of the Mind Muscles Academy, and your instructor for this course. Rich works with financial professionals, independent traders, business leaders and entrepreneurs who want to expand their mental game to make more consistent profits. With in depth experience as a broker, floor trader, financial software developer and entrepreneur, he brings concrete real world experience to his clients.
Rich founded Trade Management LLC, one of the most consistently profitable options and equity trading firms on the floor of the PSE. He created a way to visualize option values that enabled his floor traders to instantly execute trading opportunities.
Rich also holds a B.A. in Philosophy, a Masters Degree in Clinical Psychology and is a graduate of the Gestalt Institute in San Francisco along with Master’s certification in Neuro Linguistic Programming (NLP). His background in psychology has been instrumental in his development of his Mind Muscles™ training programs that supports the financial and business community.