Speaker A
It's not a discipline problem, it's a confidence problem, guys. Discipline is the most overused word in trading. It's never a discipline problem; it's a confidence problem because you haven't put in enough effort to build your confidence.
Learn why confidence, not discipline, is key to trading success and how focused study plus experience builds it.
Key Takeaways
- Confidence, not discipline, is the root issue in trading struggles.
- Deep study of setups over many hours builds necessary confidence.
- Experience combined with study leads to better adherence to trading rules.
- Avoid random trades and shortcuts; focus on learning and practice.
- Trading success requires humility, effort, and realistic expectations.
Summary
- Trading struggles are often due to lack of confidence, not discipline.
- Confidence is built by studying thousands of examples of specific setups over hundreds of hours.
- Most traders fail because they do not put in enough effort to internalize setups.
- Random trading without proper study leads to poor results and quick losses.
- Combining focused study with real trading experience is essential for improvement.
- Many traders rely on shortcuts like Twitch streams and trading services hoping for easy gains.
- The speaker shares personal failures and lessons learned about overconfidence and ego.
- Success requires at least a year of dedicated experience and willingness to learn.
- Simply focusing on theory without trading practice is insufficient.
- The speaker aims to help those committed to serious learning and improvement.
Chapters
- 00:00Confidence vs Discipline in Trading
- 00:17Building Confidence Through Focused Study
- 00:52Common Trading Mistakes and Lack of Confidence
- 01:45The Importance of Combining Study and Experience
- 02:10Random Trading and False Shortcuts
- 02:25Personal Trading Failures and Lessons
- 02:55The Need for Realistic Expectations and Effort
- 03:29Helping Serious Traders Improve
Full Transcript — Download SRT & Markdown
Speaker A
confidence if you focu if you study enough examples of a certain breakout or a certain setup you will build confidence and i bet still guys how many of you has have spent 500 hours studying one specific setup like thousands of
Speaker A
If you focus, if you study enough examples of a certain breakout or a certain setup, you will build confidence. And I bet, still, guys, how many of you have spent 500 hours studying one specific setup, like thousands of historical examples? Be honest.
Speaker A
you get shaken out on one downtick you know these things happen all the time you have no confidence because you haven't built it yeah you got to combine studying and trading well what do most people do all they do
Speaker A
There's maybe, I don't know, five percent of you. The rest of you haven't put in any effort to build confidence, and that's why these things happen. You have no confidence holding for a big move. You get shaken out on one down tick. You know, these things happen all the time.
Speaker A
down thing happens and they're out we see it daily people who are struggling to follow the rules happens to me too happens to me too but it happens less you gotta do both you gotta study hard you gotta study most people
Speaker A
You have no confidence because you haven't built it. Yeah, you got to combine studying and trading. Well, what do most people do? All they do is put on some random trades because they haven't internalized the setups yet.
Speaker A
some random things and then they you know join these types of uh things twitch streams and trading services and hope for handouts i was like that too for too many years i could have been profitable easy a year
Speaker A
And that's why they all do these random things. They promise to use the 10-day moving average as a trailing stop, and then one down tick happens, and they're out. We see it daily. People who are struggling to follow the rules.
Speaker A
i think it doubled my account i was so full of [ __ ] i didn't live in reality and then i lost 90 of my money in three months and i'm like you know what maybe i'm not as good as i think i am
Speaker A
It happens to me too. It happens to me too, but it happens less. You gotta do both. You gotta study hard. You gotta study, most people, and you gotta combine it with experience.
Speaker A
like you know because i i'd rather put my i like like i'm not gonna spend any effort on someone who just you know they read about trading somewhere and then you know they just funded the brokerage account and they want to you know
Speaker A
If you make no trades and just focus on theory, you're not going to be successful. But most people have the other problem. They do no studying and just do some random things, and then they join these types of Twitch streams and trading services and hope for handouts.
Speaker A
get get at least the year of experience and put in some effort to actually try to improve now that's the type of people i want to help exactly there is no real willingness to learn to properly trade a
Speaker A
I was like that too for too many years. I could have been profitable easily a year earlier if I hadn't been a lazy [expletive]. Oh yeah, ego, overconfidence. I thought it was going to be easy. I watched some Tim Sykes videos. I'm like, man, this trading thing is going to be so easy.
Topics:trading confidencetrading disciplinetrading studytrading experiencetrading setupstrading psychologytrading mistakestrading improvementtrading educationtrading mindset
