Casey Stubbs is a 9 ½ year United States Army Veteran and married father of nine. He is an entrepreneur, a leader in his local church, and is a successful business owner and trader. Helping others is at the heart of all that drives Casey on a daily basis. In this episode of How To Trade It, Casey shares how implementing this one discipline into your daily life could be the difference between success and total failure. You don’t want to miss it!
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You’ll want to hear this episode if you are interested in…
- [05:00] A long-term plan and vision for your trading...starting with your “Why”
- [11:35] How emotions impact your trading
- [22:25] Seeking out accountability and mentoring
Start with your “WHY”
If you are ever going to be successful, you must understand why you do what you do. I’ve discovered over the years that ALL great traders and business leaders ask questions of themselves, and others, on a regular basis. In fact, it’s the entire premise behind this podcast. Asking questions leads to gaining knowledge. As you unpack your questions, you will begin to understand your vision and purpose more clearly.
The Emotional Roller Coaster
Just like the ride, trading comes with ups and downs. How you respond to wins and losses greatly impacts your success as a trader. Both highs and lows can take you out of the market. There is no question that our emotions impact our trading, mindset, and life. This is the area that most traders tend to neglect, and it’s not good. Learning to acknowledge your emotional response is a key component to success.
Following Your Process
A process is simply a step-by-step checklist. Success comes when you follow a process that you have decided on in advance. It takes discipline to stick to a plan, but it’s important for your trading health and success. You may have a process for managing your risk, dealing with emotions, entering/exiting a trade, and analyzing successes and failures.
Resources & People Mentioned
Grab your copy of the Complete Trading System This book teaches you how to build a trading system from the ground up and how to become profitable in the markets.
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