ilmscore | Prediction Details
"there's a little bit for me of a um of a curve where if the longer I trade into the day um the higher the likelihood is of me getting triggered so let me move this around here a little bit so let's say um you know my day starts at the earliest at you know about 7 a.m. so 7 a.m. and then this is 6:00 p.m. all right so that's the whole day now what what we know about um about there's sort of two there's two curves here one we'll do in green which is going to be profit so what we know is that my profits typically are the highest they pretty much right well if this is maybe 630 here they go um pretty quickly like this my profits and then and then they they go down if even faster than that it's like it's not it's not a very even bell curve um and actually we could say we could almost say like this is this is zero and then this is like losing M below zero right so negative um because that's that goes into the negative and then here's the thing my uh this is my threshold for getting triggered my threshold for getting triggered goes up sort of exponentially where the the further into the day we go where and I make a mistake the more likely I am to get triggered and to spiral so spiral risk factor increasing exponentially this isn't as exponential as it should be it increases exponentially as the day goes on right here and at the same time and maybe it's because of you can't disconnect these two it's for the same reason that my profitability goes into the negative because statistically this is when I'm more likely to make these big mistakes is down here so what we would actually say is that this is this is profit profit profit profit profit profit and then all of a sudden down here is starting to go into losses maybe the losses aren't big in this area uh in total but their losses nonetheless so that's not this is not a perfect graph um where was this this is just the last 30 days right here which showed um you know that that's my stop point and this is this after hour stuff was getting really bad but you get the idea so you know and I share this with you it it helps for me to talk it out and you know put some kind of like Common Sense around how I feel about all of these things so this this is helpful for me but I hope it's helpful for you as well because this is all sort of the cumulative knowledge and and data of someone who's been doing this for a long time and still at times struggles so I'm always trying to kind of find the answer and find the PATH right so if I go off path I try self-correct quickly and I tell this to my kids all the time there's a Bernstein Bear book um about Brother Bear he's you know gets sick which you know that's not his fault but anyways he misses homework he doesn't do his school work for a few days goes into school and Pop Quiz in math and he FL he fails it he gets an f and anyways he he go he kind of spirals he skipped school the next day now he doesn't go to school now he's getting in trouble right and at the end of the book we learn that it's never too late to correct a mistake and I think that that's important because it's easy when you start to spiral start to go on a bad path like it's like how could I just like I wish this was like a game where I could just reload to my last saved point before I made all of those mistakes and in a sense you can because reloading to that save point while it may not put you back to that place of that dollar amount you can go back to the strategy you were trading and put yourself back in that mindset of discipline and if you could do that then you've already made back all the losses that's the thing there's that expression that uh all the Lo all the profit is there in the market you just have to go pick it up so you're going to take another 100 trades and you can either choose that those next 100 trades are going to be on the path of your strategy traded with discipline a quality setups or you can take 100 trades that are just grasping at straws where do you think you're going to be at the end of grasping for straws continued spiral continued losses blown up account or you you can self-correct so self-correcting requires a very high level of emotional awareness and discipline so what I was doing last night and this morning before trading was guided meditations right here on YouTube for discipline so you just do a guided meditation discipline 10 15 minute long uh there there was one I don't remember the name of it but anyways you'll find it if you want it um it was like 15 minutes long just do that a couple times just try to remind yourself this is my this is my ticket to success my ticket to success is discipline that is number one now obviously you need to have strategy you need to know how to find the right stocks to trade all you you have to have all of that first I mean I'll say that so trading is two parts it's strategy and then discipline so if you're looking for the strategy I'll put a link down in the description where you can download um you can do a week trial at where you're trading so you can watch over my shoulder for the next two weeks you can also watch my free intro class intro to-day trading where I walk you through my strategy and I'll give you guys all a copy of um my book how to day trade the plain truth so everyone that um watches that free intro class gets a copy that they can download so you can download this and then um yeah so I hope you do one of those two things and then when it comes to discipline I'll just keep sharing with you the tips and tricks that help me but discipline is a muscle and you got to strengthen it and it's it's not like learning to tie your shoes or ride your bike that once you've got it you've got it forever discipline is something you need to constantly work on and you'll see uh all all Traders at times struggle with it and you know look even even billionaire investors will make mistakes you talk you listen to Bill acman talk about um one of the biggest losses he ever had on Valiant pharmaceutical he lost something like4 billion doar and he talks about how he was going through a period in his life where I think he was questioning his marriage he was contemplating a divorce and you know all this stuff was all happening so you know all of those things that are on the periphery can come back in to your trading so if some of that stuff you know anything like that's going on then that's another level of awareness that like okay my threshold is going to be lower that trigger threshold that's going to be that trigger threshold is going to be even lower on a day when you're emotionally charged up from something else so I hope this has been a really helpful episode grateful for the Green Day $1,432 70 live to trade another day I'll be back at it tomorrow uh and I'll try to finish off the week Thursday and Friday with discipline you know at the sort of front of my mind all right thanks as always for tuning in and I'll see you guys back at tomorrow and I'll remind you trading is risky my results aren't typical so manage your risk take it slow practice this simulator before you trade real money and I hope to see you guys at Warrior trading for a twoe trial real soon all right see you guys soon"
By Ross Cameron - Warrior Trading | October 9, 2024 | Pending
From video
Big Winner on Breaking News #daytrading 00:22:14 - 00:25:16
Interpreted Prediction
The longer the speaker trades into the day, the higher the likelihood of them becoming triggered and spiraling into losses. This is visualized as a curve where profitability decreases and the risk of emotional decision-making increases exponentially as the day progresses.

Prediction Details

Topic
Trading Psychology

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