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  • All right.

  • I want to get in To part two of this broadcast and the lesson that I want to teach all of you traders right now, which is this discipline is everything.

  • That's what this all comes down to here.

  • And you can see a picture of Jacko willing, who really embodies the discipline and everything that really needs to happen here.

  • It's so important because the truth is this, Most people out there are losing money and that's why 95% of crypto day traders lose money because their sheep and sheep get slaughtered.

  • And again, as Gordon Gekko quoted Sun Su from the Art of War.

  • Every battle is won before it's ever fought.

  • Think about that.

  • And right now inside my academy, we have a group of my students And we're positioning ourselves for the future.

  • We've already chosen our coins.

  • We've already put our stop losses in which means on a week like this, when Bitcoin pops to 40,000 were already making money.

  • Our trades are programmed in.

  • We know exactly how this is, uh, rapidly increasing all of our net worth.

  • And it's all because of discipline.

  • And that's what I want to talk about today, because I want to talk about stop loss orders.

  • And if you don't know what a stop loss is, let me put this on the screen.

  • Every single one of my students has stop loss orders put in place and you can see this graph, it might not make sense to you.

  • But if you look at it closely, it basically says this when you put a trade on, you always know when to get out of that trade.

  • And that's the beauty of a stop loss, which means once you put your trade on, anything could happen.

  • But your emotions don't get in the way of your positions and this is such an important part, uh, that's what takes the, the dopamine out of trading.

  • And as I said before, this is trading, this is not netflix.

  • So many people do this for entertainment and I see people on their phones trading or checking the markets on their apps.

  • I see people trading when they're happy, when they're sad, when they're angry, when they're mad, when they're drunk, when they're emotional back when I was on Wall Street, we would never trade that way.

  • It was always in a disciplined manner.

  • But these days because of mobile technology, because of crypto because of newbie traders, people are not using discipline and it's crushing things out there and it leads to some really flawed ideas and strategies.

  • And here's an old tweet from Elon musk where he's talking about diamond hands and people are out there saying I have diamond hands, I'm not going to react to information in the marketplace.

  • And again, this to me illustrates the lack of trading discipline out there because the concept of having diamond hands or a concept of being Hodler, which means you hold on for dear life means that you're a sheep and you're gonna get slaughtered and it's gonna happen sooner or later, you're gonna be carried out on a stretcher.

  • And that's why if you're really going to be intelligent about trading, you always have to have stop losses in and you have to have discipline.

  • And that's why inside my defy accelerator and it's in module for we go into specific trading disciplines and it's four main rules that we have inside my accelerator and I'll break them down for you right now.

  • The first is something I call our first system, which means on the first of the month, all of my students make all of their positions and their key trading positions.

  • They researched them, they plan them out, they put them into place and then They let their stop losses and their programs decide the next to the 30 days.

  • This is so crucial Because this keeps the emotion out of it.

  • This keeps the netflix component out of it and it's why my students are making incredible gains right now in these markets.

  • The second thing we talk about inside my system is my 10 coin rule.

  • We restrict our investments to less than 10 coins and a lot of you are thinking about Brian, I've got, you know, these other 10 coins and these other 10 coins just in case.

  • The problem is it kills your mental bandwidth and all of my successful students are positioned out there with 10 coins or less.

  • So important.

  • The next thing we have is something we call a 30 day watch list, Anything that you're thinking about buying always goes to a 30 day watch list before you go ahead and put the position on again.

  • It stops emotional trading decisions, which we know results in losses.

  • And the last thing that's so important is that they all have a trading peer group where they are radically transparent about their trades.

  • Again, we've all seen people celebrate that one great trade.

  • You post on your instagram where you made money on Bitcoin or ethereum.

  • What about every single other trade?

  • And that's why we have a trading peer group inside our system.

  • This is how you're going to be successful long term, you need a peer group, you need mentorship, you need a 10 coin rule, you need discipline.

  • If you have these things things in place, You are going to be successful long term and if you don't, you're going to get emotional and emotions lead to losses.

  • And I want to play a clip here from Gordon Gekko in the movie Wall Street.

  • And this is a rare moment where you see an experienced trader like Gordon Gekko get emotional.

  • I saw this happen very few times in my 15 years in the financial markets where I'd see a seasoned trader get angry.

  • Sometimes we would break our phones, we would yell, we would break screens and it always resulted in losses.

  • And here's a short clip of Gordon Gekko getting emotional about stock, which means he's losing money.

  • Here's Gordon?

  • Watch and learn marty.

  • I need a favor.

  • It's a quick scout for him.

  • 200 shares.

  • Bluestar at 19.5.

  • Can you position in one of the equity funds chronicles seven hold marty.

  • Listen, Blue Horseshoe Loves Bluestar Airlines.

  • Got it.

  • Got it right marty you still there?

  • Blue stars play?

  • Let's check it out.

  • Yeah, yeah, I do love itself.

  • Yeah.

  • Gordon?

  • I see it at 21 in five days and I don't know what to make of it.

  • The word is out, Pal your Union buddies are talking.

  • You get me into a 45 degree angle.

  • I mean all the way in Eur slash and burn you buy everything inside of 22.

  • Then call me when I get hold of the son of a bitch who leaked this, I'm gonna tear his eyeballs out and to suck his fucking skull.

  • Start going to Pluto man, start unloading what?

  • Self dumping now, dump it all.

  • Where's lou right over there.

All right.

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B1 trading discipline gordon trade emotional loss

Brian’s 4 Trading Rules To Financial Freedom ? Discipline is Everything

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    林宜悉 posted on 2021/08/06
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