Nostalgic Reflections on Music

Personal Connection to a Song

• The speaker reminisces about a powerful song from their junior high days, expressing how the beat impacted them emotionally.

• They describe the song as their "theme song," indicating its significance in their life during that time.

Upcoming YouTube Session Announcement

Details of the YouTube Session

• The speaker announces an upcoming private session on YouTube scheduled for Thursday, which is not part of their usual curriculum.

• They emphasize the importance of subscribing to their channel for access, hinting at exclusivity and a controlled environment.

Reasons for Limited Public Exposure

• The speaker questions why they choose not to share content publicly, suggesting concerns over negative feedback and criticism from social media users.

• They express frustration with online complaints and accusations, indicating a desire to maintain a positive space for discussion.

Structure of the YouTube Session

Format and Content Expectations

• The session will allow participants to ask personal or trading-related questions in one consolidated place.

• The speaker encourages engagement by asking attendees if this format is beneficial, aiming to address common queries collectively.

Midweek Mentoring Session Overview

Key Components of the Session

• The midweek mentoring session includes three main components: trade ideas (alpha), technical setups, and coaching insights from the final chapter of their book.

• Participants are invited to vote on whether they prefer swing trade ideas or shorter-term trading strategies.

Reflection on Personal Growth through Challenges

Insights from '75 Hard' Challenge

• The speaker checks in with participants about their progress in the '75 Hard' challenge, encouraging reflection on personal growth over 61 days.

• They prompt attendees to consider what they've learned about themselves during this period and how it relates to trading discipline.

Connecting Personal Changes to Trading Practices

• A discussion arises regarding changing habits; specifically, how eliminating sugar has led to positive feelings and potential changes in future behavior.

• The speaker draws parallels between personal habit changes and trading strategies, urging participants to consider new patterns in their trading practices.

Trading Insights and Strategies

The Importance of Changing Trading Patterns

• The speaker emphasizes the significance of altering trading habits, using a personal example of stopping trades after 11 AM to improve performance.

• Participants are encouraged to identify one consistent behavior in their trading that may need adjustment, stressing the importance of specificity in defining what "overtrading" means.

• A call for self-reflection is made, urging traders to write down their identified behaviors and consider giving them up until the end of the year for potential improvement.

Key Trading Concepts

• The speaker introduces a 50-day challenge as an alternative to a 75-day commitment, suggesting participants evaluate their trading over this shorter period.

• Three main topics are outlined for discussion: alpha (market opportunities), technical analysis, and mindset.

Alpha: Identifying Market Opportunities

• Amazon is highlighted as a key swing trade opportunity due to its current setup involving pullbacks.

• Specific options contracts on Amazon are discussed, including various call options with different expiration dates and strike prices.

• The potential for increased sales during the holiday season is noted as a driving factor behind these trades.

Technical Analysis Considerations

• Emphasis is placed on seeking confirmation before entering trades; traders should have clear preferences regarding setups.

• The speaker invites participants to share their criteria for taking trades, highlighting three personal preferences: chart pullbacks, strong sector performance, and smart money buying activity.

This structured approach provides clarity on trading strategies while encouraging active participation from traders looking to refine their methods.

Understanding Trade Confirmation and Preferences

The Importance of Indicators in Trading

• The speaker discusses the significance of leading and lagging indicators, emphasizing that confirmation from a strong sector can validate a trade decision.

• They affirm that having both a leading indicator and macro support is sufficient for confidence in a trade.

• The speaker suggests that additional factors can enhance confidence, such as volume and technical indicators like MACD crossovers.

Enhancing Trade Confidence

• Volume is highlighted as an important factor; higher volume can indicate stronger market interest.

• Other elements mentioned include news catalysts which could further confirm the trade's potential success.

• Traders are encouraged to identify their "must-haves" for trades, which are essential criteria they cannot compromise on.

Building a Personal Trading Strategy

• Understanding personal preferences alongside must-haves is crucial for developing a trading plan tailored to individual needs.

• New traders often experience uncertainty; recognizing this feeling as normal can help them navigate their trading journey more effectively.

• Each confirming reason should be viewed as adding to the probability of successful trades, reinforcing the need for thorough analysis.

Developing Patience and Skills

• New traders are advised to compile lists of must-haves and preferences before entering trades to build confidence gradually.

• Emphasis is placed on training one's eye to recognize favorable conditions rather than rushing into trades based solely on profit motives.

Case Study: Amazon Trade Analysis

• The speaker uses Amazon as an example, assessing its bullish movement, pullback to support, seasonal strength, and smart money buys as positive indicators.

• Participants are prompted to consider additional factors they would prefer before committing to the trade, fostering engagement in the learning process.

• Confluence of levels (previous resistance becoming support), along with other technical aspects like previous support levels, are discussed as beneficial confirmations for entering trades.

Final Thoughts on Must-Haves vs. Preferences

• Traders should clearly define their must-haves without compromising while also identifying preferences that enhance their trading experience.

• A comparison is drawn between personal relationships and trading strategies; just as friendships thrive on shared values and preferences, so do successful trades benefit from alignment with personal criteria.

Understanding Trading Mindset and Coaching

The Importance of Standards in Trading

• Emphasizes the necessity of writing down trading standards to enhance decision-making. A trader should be willing to trade based on their established criteria.

• Highlights that having high standards as a trader is beneficial, encouraging traders to maintain these standards rather than settling for less.

Technical Aspects of Trading

• Discusses the importance of patience in trading, suggesting that finding the best trades may require more time and willingness to wait.

• Stresses the need for traders to identify their must-haves and preferences when engaging in technical trading.

Insights from Coaching Principles

• Introduces a book about performing under pressure, offering an advanced copy for feedback from participants.

• Outlines a threefold process for growth: preparation (pre-season), action (playing your position), and recovery (teammates).

Growth Through Action and Recovery

• Explains that mistakes are part of the learning process; one should focus on moving forward rather than dwelling on errors.

• Reiterates the cycle of acting, reviewing, and preparing as essential principles applicable not only in trading but also in life.

The Role of Coaching

• Defines coaching as crucial because it helps individuals recognize what they do not know or have not experienced.

• Identifies two essential criteria for effective coaching: proven competence and genuine care for the coachee's success.

Trusting Your Coach

• Warns against coaches who lack real-world experience despite claiming expertise; emphasizes seeking those with proven results.

• Distinguishes between self-serving advice versus guidance aimed at mutual benefit, highlighting that good coaches want something positive for their clients.

Coaching Insights and Competence

The Importance of Different Coaches

• The speaker emphasizes the necessity of having various coaches for different aspects of life, highlighting their own experience with four distinct coaches.

• These include a trading coach, speaking coach, business coach, and strategy coach, each specializing in unique areas to provide tailored guidance.

• The speaker notes that each coach focuses on specific topics; for example, the speaking coach does not address trading issues.

Key Qualities of Effective Coaches

• Coaches should exhibit genuine care for their clients' success; this emotional investment is crucial for effective coaching relationships.

• Proven competence is essential; coaches must have demonstrable skills and knowledge in their respective fields to offer valuable insights.

• Practical guidance is necessary; advice must be actionable and relevant to the client's situation to ensure effective implementation.

Evaluating Coaching Effectiveness

• The effectiveness of coaching can be assessed by how it leaves clients feeling—positive emotions indicate successful coaching experiences.

• Feelings serve as information about the quality of coaching received; if clients feel inspired or appreciative, it suggests good coaching practices.

Blind Spots and Growth Through Coaching

• Coaches help identify blind spots that individuals may overlook in their personal or professional lives, facilitating growth and development.

• A combination of proven competence and genuine care forms the foundation for an effective coaching relationship.

• It’s important that coaches want something beneficial for their clients rather than seeking personal gain from the relationship.

Reflection on Personal Experiences with Coaching

• The speaker shares a personal story about working with a grief coach during a difficult time, illustrating how practical guidance can aid healing processes.

• Reflecting on past experiences helps determine whether coaching has been beneficial in terms of saving time and reducing frustration while fostering inspiration.

Conclusion: The Value of Coaching Relationships

• Ultimately, good coaching should lead to feelings of gratitude and improvement over time.

• As new projects develop (e.g., writing a book), sharing insights gained from these experiences can further enhance understanding within mentoring sessions.

Understanding Coaching and Personal Preferences in Trading

The Importance of Self-Awareness in Trading

• The speaker emphasizes the necessity of understanding personal preferences in trading, suggesting that traders must identify what they need to focus on and what patterns they might need to stop.

Coaching Dynamics

• The speaker distinguishes between their roles as an analyst versus a coach, indicating that while they provide analysis, true coaching may require a different approach tailored to individual needs.

Finding the Right Coach

• The speaker expresses that if individuals do not feel a connection with them as a coach, it is important for them to seek out someone who resonates better with their style and needs.

Encouragement for Personal Growth

• Acknowledging the importance of finding the right fit in coaching, the speaker encourages listeners to pursue coaches who will genuinely support their growth and development.

Final Thoughts on Coaching Relationships

• The speaker concludes by reiterating that it's okay to move on from one coach to another if there isn't a good match, emphasizing self-worth and the pursuit of effective guidance in trading.