A Recipe To Win?

I stumbled onto a webinar today via a spam email.  Here is the link:



Of course much of this gentleman's information is valid.  But let's go through his  process and see if it is really the road to trading success.  And let's see IF he really can lead (and sell us) to trading success...  At the end of this post, I want to highlight what he's missing -- if anything.

I love the patient observation slide showcasing the American cougar's effective process at hunting.  Spot on: this approach will serve you well!

Next up he showcases his 5 step "recipe".  Do these 5 things and you are golden!

Let's see:

1) Emotional Regulation: He's spot on here and it's great that he makes this number 1.  Go on tilt and the mouse clicks can be incredibly destructive.  Great job, doc.

2) Mindfulness:  Well, for sure it makes sense to understand that focused effort is a good thing.  But we can be incredibly mindful, and still lose.  If I'm perfectly mindful during tilt, or implementing a losing strategy, then it's not going to be a great day.

3) Discovery of the historical internal dialog:  You are a crappy trader!  Just kidding.  Of course, not having a nurturing self-coach dialog with yourself is going to make things hard.  But if you have a trading strategy with a documented edge to make money with, then most of the truly negative self talk is never even going to take place.   Because you are making money and a bonafide super-hero loved by everyone!

4) Self development of your empowered nature:  Psychobabble BS.  Have a winning strategy and you will feel empowered.  If you don't know how to trade,  than your "empowered nature" will suffer. lol

5) Becoming intentional about the mind your bring to trading:  Sure, let's be intentional.  You don't want to sit at the desk, without a structured process, brief therapy goals, along with a successful methodology.

But you can have the greatest intentional mindset in the world and practice this 5 step recipe perfectly... Yet still be a massive loser.

Here is the key component so conveniently left out by our expert:

IF YOU DON'T KNOW HOW TO TRADE, THEN YOU ARE GOING TO LOSE AND FEEL CRAPPY ABOUT IT.  

These money grubbing want-to-be psychologists always seem to forget to point this out.

If they did, then they could not lure a guy who does not know how to trade into spending 2k,  thinking that his "empowered nature" is the reason for losing.

Once you are actually qualified to engage the markets, then the psychological nuances really can add value.

But the vast majority never even get to this point.  And some succumb to thinking that the short cut is spending money on psychological coaching.

Read through Brett's work and you'll be ok.

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