Transcript:
we're goodLet's talk the number one skillyou need to have as a trader,and I mean as a day trader,as a swing trader if you're trading stocksor options or Forex or Bitcoin.If you are trading any of those,you need to have this skillif you're gonna have success.This skill usually gets a little confusedand people have the wrong impressionof how everything's working together.However, when you
understand what's going on,it's actually something that
you should be applauded for.You should really try to build
upon it as much as you can.The misconception pretty
much plays out like this.We have a trader.That's Bob.And then Bob, something happens to him,and what happens to him is this.He wants to do something stupid.Maybe he wants to do,and he knows, it's like,"I shouldn't be doing that,
I don't wanna do that."But he wants to do it,so there is some sort of,
what, what's going on, here?Well, there is an underlying desire herethat's causing him to
wanna do that stupid thing.And what a lot of people do is they say,"Oh, you know,"I had the desire to do something stupid."I am bad, I'm not good enough."I'm not studying hard enough."It's a bad strategy."You know, insert blank,something that implies
something that's bad, right?They had some sort of
negative attachment with thatbecause they have the desire
to do something stupid.But let's actually think about this.That's what you want.That's a skill that you need to have.How so?Well, what did you just do?You have recognized the
fact that, you know what?I wanna do something stupid.That's not good.When you recognize that you
wanna do something stupid,then guess what, you can fix it.You can ignore that desire,or you know, as I like to use as traders,and this will sound
crazy, but I assure you,as soon as you start
trading with real money,you'll know what I mean.But, what I like to call the voices.Yes, we all have voices in our head,and these voices will
come out to visit youas soon as you start
trading with real money.These voices are gonna lead to the desire,and sometimes, like I said,it's just the voices lead to the desire,the desire makes you
wanna do something stupid.But don't allow yourself to say,"Ugh, I'm bad, I'm not good enough,"I'm not studying hard enough."No, you're a human being.You're an emotional creature.That's totally normal.The problem is what you
decide to do, right?Just because these show up,the real thing becomes, well,are you gonna listen to the voices?Are you gonna do that dumb thing,or are you gonna just say,'cause we're polite, we're polite here.Are you just gonna say, "No, thanks?"That is the big question.That is the big hurdle
that needs to become,you know, that needs to be overcome.Whereas look at it like this, though.Let's say that you're just
brand-new to the markets.You're just brand, or maybe you're just,no, I got it all figured out.But for whatever reason,you're in the camp where you're Bob,and then all of a sudden,
this is it right herewhere he doesn't recognizethat he wants to do something stupid.So he just, what?Of course, there's nothing to listen to,so he's just going to go and do it, right,because Bob doesn't even knowhow to identify what stupid is.He doesn't recognize the voices.Now that is a situationwhere you're totally missing the skill,where you're totally just over,really, you're underestimatingjust how good it actually
is to be able to say,"Oh, wow, I wanna do
something stupid right now."That's awesome!Don't think that just
because you have the desirethat means that you're not good enough.At least you can recognize it.I realize right now, yeah,I'm drawing up on the whiteboard
and talking in theory,but what I wanna show you now is,before I forget,I wanna show you a portion of
a live trade that I've done,and what I really liked
about it in hindsightwas how I documented this journey for me.The key thing is that I want
you to pay attention to,remember this quote right here."I want"to"buy"here."When I say here,and what I want, right,'cause that's the desire right here.My desire is to want,and I wanna buy here.Take notice of that location.Look where the price is when I admit that,you know, yeah, I wanna buy here.But here's the thing, not
to pat myself on the back,but just to show you that this is a skillthat you need to have to be
able to recognize the desire.I then throw in the, "But no thanks."But that wouldn't be good.So, just because I had the
desire to wanna buy there,that doesn't mean that,oh, wow, Clay, you suck as a trader.Wow, you still have so much
work that needs to be done.No, you're never going to be ableto get rid of the emotions.You're never gonna be able
to get rid of the voices.The key, though, is can
you recognize the emotions?The key is, the skill is,do you realize what's going on?Do you realize the voices
that have shown up?As you're gonna see,I named this voice right
here the chasing voice.Now, I don't know if this
will work for everybody,but for me, and I realize
it makes me sound psychotic,but I have names for all
the voices in my head.For me, that just helps
me to recognize themand it helps me to recognize the desire.So, I don't know, maybe this skill,you can improve upon it
for yourself or your,just, you do start naming the voices.Like I said, you're about to be introducedto the chasing voice in my head.I guess I'll offer up a spoiler.Actually, I won't.Let's just watch what happens.Take note to where I
say, "I wanna buy here,"and then I say, "But,"because I'm looking for
something else to happen,and then I'll come back and offer upthe secondary part of this skill,which is, because I was
able to recognize it,I was then able to benefit in another way.Let's go to my desktop,and you'll see this live portionof a live trade video that I've done.Market opens up here in about 25 minutes,watching the SES right now.Maybe a pre-market trade,or I might just let this
overall pattern developbefore the actual open.But a nice priced stock here
with good solid movement,over a million shares already.Like I said, maybe a pre-market trade,but if not, I'll see back at the open.Still about 10 minutes left,and SES has just really
left me in its dust.I've watched it and thought, all right,it'll pull back some
more, it'll pull back,but this thing is just grinding right now.Not gonna buy up here, don't wanna chase.That may prove to be very stupid.Who knows, maybe by the
time the market opens,this thing's gonna be up over 11.But chasing, not a good habit to get into.But if it can at least show
some sideways price movement,and consolidate out,that a little bit different story.But as of right now,it's just been green
candle after green candle.As much as I would like to
try to nibble some up here,I've learned through
the hard way many times.Let's just put it this
way, you don't wanna chase.We'll see if it can at
least consolidate out now.If it pulls back,then I would definitely become
a whole lot more interested,but as of right now, yeah.I'd like to buy here,and in hindsight, maybe
I should've bought here,but as far as habits being formed,you don't wanna form
bad habits of chasing,which is what it would be right now.Like I said, that market now
opens up in about nine minutes,but yeah, this thing's lookinglike it'll be a pretty entertaining open.That is exactly why you don't wanna chase.You gotta think about it,
put yourself in shoes.You know there's people,we were watching people
buy right up there,so you gotta just wonder, what
are they thinking right now?They're thinking, well,
it's looking like my Mondaymight not be getting off to a good start.Now, this thing could very
well work its way back upwardsand they may get bailed out,but just think about the
habit that's being formed.Not a good habit to be buying up there,to have this big old pull back,and then all of a sudden,
sure, it may work out for them,or who knows, maybe not?Maybe this is a bigger
move to the downside.But there's a pullback,and I'm interested now at this pointhaving to order for 1,000
shares at 9.85 to buy,if you're unfamiliar with my screen.So, still got a little bit of ways to go,but looking for a flush
down below the $10 mark.We'll see, still about five
minutes before the market opens,so, maybe a pre-market tradeif it moves down there beforehand.If not, though, let's see what happens.Oh, I think I missed it.Yeah, I'm not sure what I got.But anyways, I got my first
few thousand shares at $9.80,and all out there for a quick 150.Gonna go down to 9.55.Wow, the market opened up,and it just snapped right down there.I do apologize if I didn't
get my 9.80 entry point.At least I got the exit point.Let's see if this thing
wants to pull back some more.Okay, I'm in there, all
out there for another 150.Gotta go to 9.25, now.Let's see, we're not even
a minute into the day,and I'm up $300.Isn't all that pretty
crazy, really, in two ways.First, where I say, "I wanna buy here."Basically, I would've bought the top.I literally would've bought
the top within a few penniesbefore that big move happened.However, what happened in there?I threw out the word but, right?No, that's not showing up pretty good.Let's try this right here.I threw out the word, there we go, but.But I'd like what?I'd like to see the price pull back.So, think about it.I did wanna do something stupid,but I said, "No thanks,"and then I said, "Yeah,
go away, chasing voice."I wanna see a pullback."And then when the pullback
happened, you saw.Crazy, huh?$300 in basically a minute.Why?Because I recognized the stupid voice,I ignored the stupid voice,and then I just did what actually
was the smart thing to do.That's actually what discipline is.Have you ever thought about that?I mean, the soundbite always is,well, you gotta be
disciplined as a trader.But what does that even really mean?Well, it means this.Being disciplined is not,oh, I have the desire
to do something stupid,that means I'm not disciplined.No, that's false!You're not disciplined
if you listen, correct.Now, you're really undisciplined,now, some people, it's
not really an excuse,but if you don't even know
how to identify stupid,and then you go and you
do something stupid,at least you can say to that person,well, I mean, they didn't
really know that was stupid.That's still undisciplined,
then that's still not good,'cause they're gonna lose money.But in a situation where
you can identify stupidand then you still listen,yeah, that's being really, really badin the discipline department.But that's what discipline is.Discipline is a two-step process.First, can you recognize the desire?Can you recognize the voices that show up?Then the second part is,what are you gonna do after you recognize?Are you gonna listen,or are you gonna say, "No, thanks?"That is how discipline actually works.That is how you are disciplined.So, the next time you're just going,well, you gonna be disciplined.And I always wonder,yeah, follow your rules.Okay, that's true, discipline
means follow your rules.But how do you follow your rules?Well, you have to be able to recognizewhenever the desires show upthat wanna make you break those rules,and then you just say, "No thanks,"'cause again, we're polite.But that's how this all works,and that's why the number one skillthat you have to have as a traderis you need to be disciplined.But not really.Let's peel that back.The number one skill you have to haveis to just recognize the desires,recognize when those,wow, I really wanna do
something stupid right now,and then you need to be
able to say, "No thanks,"and then proceed onand follow what you
know needed to be done.Like I said, to equate this
back to the real-world exampleso I get out of the world
of theory right now,I wanted to buy, I wanted to chase,'cause yeah, that price was
going up and it was going up.Oh, my, I'm missing out, Clay!I wanna buy here!But no, that was the desire
of the chasing voice.But I would be interested if it, what?Pulls back.And when it pulled back, as you saw,$300 in a minute.That's how it works.That's the skill that you've
gotta have as a trader.Do not allow yourself to thinkthat just because you
have a bad desire that,wow, I'm just slacking off, I'm not,no, that means you're
right on your A-game.That means you're ready to be disciplined,'cause you're being very self-aware,And that's what you want.Just make sure you say, "No thanks."I mean, some of you may be
sailors that are watching this.You're probably, it's probably not quite,you probably have a few different,more choice words in there,and if that works for you, that's great.I mean, cuss up a storm, I don't know.Just don't listen to the stupid desireonce you recognize that the
stupid desire has shown up.Get out there, start working
and applying this skill,because yeah, it is the
number one skill you must haveif you wanna have any sortof long-lasting success as a trader.First off, thanks so much for
watching the entire video.Real quick, before you go,I wanna invite you to a live
webinar, web class, training,workshop, online event,
whatever you wanna call it.But it will be me, live,revealing to you what I've discoveredthat has allowed me to transform myselffrom being an employee
to being my own boss,including how I had only one losing dayout of 73 days in total.I'm gonna cover three
keys that have helped meunlock profitable consistency
within the markets.The first key is super weird,but in a productive type of way.The second key is super awesomebecause it quite literally is
wired into our DNA as humans,making it very easy to use.But in a cruel way,this becomes a pitfall for many traders.I'll explain it all, though,including how to avoid the
pitfall that it creates for some.And yeah, the third key, when you hear it,sounds way too good to
be true, but it's not,and I'll show you how it all works.Then at the end,I open it up for a
question and answer sessionthat is, again, totally live.Even if you can't make the live session,please still sign up,
as it will be recorded,and you can go backand watch the replay that I will send you.Click the image on the screenor click the link down
in the description boxso you can get the date and
time and claim your spot,which I should note is limiteddue to the fact that this
truly is a live event.If you have any questions, let me know.If not, I'll be seeing you soon.