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. Casey is dedicated to helping people from all walks of life fulfill their financial dreams, while also achieving financial freedom. 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 learning to tame his emotions made him a better trader. You don’t want to miss it! @CaseyStubbs discusses taming your emotions when trading, so you can consistently produce winning trades. Join us on this episode of How To Trade It to find out more! #Stocks #Forex #Crypto #TradingPsychology Click To Tweet
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You’ll want to hear this episode if you are interested in…
- [00:52] Emotions…part of the human experience
- [05:35] How your personal life can impact your trading
- [10:08] How unchecked “good” emotions can be BAD for trading
- [12:24] Getting help to deal with the outbursts
- [14:51] Gaining awareness
- [19:47] Understanding how consistency is key
Taming Your Emotions
Being led by my emotions has caused me to make some serious trading errors. Trouble often comes because we aren’t expecting emotions to be a part of our trading. It’s not something that is taught or talked about often. We can’t simply ignore our emotions, but we must not be led by them either. Having discipline in your trading partly means that you acknowledge what you are feeling, process through it, and then make decisions accordingly.
Is “Good” really Bad?
When I first started trading, I was on fire! I was making a ton of money and it was super exciting. I quickly became addicted to trading, developed extreme euphoria, and quite literally felt invincible. I convinced myself that I was untouchable and I could repeat my good fortune. Unfortunately, all of those “good” feelings caused me to make some really horrendous trading decisions. When that account tanked, I ended up at the opposite end of the spectrum…depressed, angry, and upset.
No more outbursts
Life is fast-paced and so we often live in a constant state of “hurry”. FOMO is very real! (Fear of missing out, in case you are wondering.) We don’t want to miss a thing, in life or trading, so we rush into decisions with our emotions at the helm. If we truly want to be successful, we must recognize what we are experiencing and feeling, slow down, and learn to be deliberate and purposeful in our decision-making. It’s counter-cultural to think that slowing down will actually make us better, but it does. Awareness will help us understand ourselves better and understand why we are trading the way we are.
Resources & People Mentioned
- Discipline, Discipline, Discipline!!!
- Forex Master Trader
- Send questions, comments, and podcast ideas to: Business@TradingStrategyGuides.com
- Kevin Pyne’s Trading Buddy System and Emotion Equilibrium Chart
Connect With Casey Stubbs
- Website: https://caseystubbs.com
- Website: https://TradingStrategyGuides.com
- YouTube: https://www.youtube.com/TradingStrategyGuides
- YouTube: https://www.youtube.com/caseystubbs
- Twitter: https://www.twitter.com/caseystubbs
- Facebook: https://www.facebook.com/TradingStrategyGuides
- LinkedIn: https://linkedin.com/in/caseystubbs
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Disclaimer: Trading carries a high level of risk, and may not be suitable for all investors. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment. Therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.