“Train your Mind to Make Money!” - Rande Howell | Trading Psychology

so the moment you start thinking that you've got it together is the exact moment that you've lost it so our indie howl welcome back on the podcast it's been a while but I'm glad to have you again thank you very pretty much I'm delighted to be here that should tell you here so we I think first spoke together in like 2015 a while back about yeah yeah yeah the whole style so I want to kind of hear what has changed is then anything new that you come across or what else's like progress is there probably for me the one thing in my you know my orientation to trader training into basically peak performance is really from a neurobiological standpoint how do you change the brain that engages uncertainty and I think the thing that I've woke up to more and more and more as I engage traders that I engage portfolio managers is the just sheer profound impact that uncertainty has on the brain and and there's no escape from it and the O key though is you you have to begin to ask how do you how do you train the brain to engage uncertainty so that it's it's open to paucity rather than locking into particular survival instincts and that's probably grown because you know I came back I came into this work as a therapist and I've come away from here where this is really about enormous training about what asked to go on to build a brain that gives rise to a mind that can engage uncertainty with risk a completely different model than trying to help people feel better okay there's let's discuss on that for sure so just forgot about yourself you are a chair psychologist as well as an author of the book trader Marcus it's an ad which I read like many years ago which was awesome and you've been coaching one of my friend in Montreal some time ago so Houston so that's kind of how I came to know about you when you work which is good anything you wanna tell people any other take now that I didn't mesh you wanna cover it people wish people knew you were better yeah the major the major thing to understand about me is that you know I come out of a background where I'm used to working with really tough populations PTSD type stuff violent prisoners and I've always been intrigued by the way the limbic system of the emotional brain adapts and hair triggers responses to threat in the environment and that's probably the big deal if you look at my work it's really all about you know this automatic learning that's going on by the brain while you weren't looking and learning to get in and to diagnose that and to take it apart ease it apart and to retrain the brain to respond to uncertainty very differently that's you know all else that's really what it that's that's what it's really all about to me awesome and what then you move to helping traders and coaching traders that's actually a funny story there was a period of time where you know basically I was teaching a peak performance class and it also had a spiritual element but and I was I was actually at an Episcopalian spiritual retreat okay where I discovered that I was the only sober moment and an otherwise very drunken weekend and while I was there which was mind-blowing to me I would did not expect that at all and while I was there I did this workshop and basically it was about peak performance and a guy came up to me afterwards and said Randy this is really amazing I having a problem in my business and I would like to know if you might be able to help me and you know I'm in Charlotte North Carolina with all these really big banks and stuff like that so I'm used to working with that kind of performance and I say well what do you do and he said I run I have two partners and I who edge fun and this is 15 years well I want you to understand that and I looked at me since well what's a hedge fund that's how just absolutely I was unprepared for the market that I was about to become part of and that didn't he didn't bat an eye you know what he did he realized that oh my god this guy's talking a language about peak performance I'm having people I'm having performance problems can he help me and performance problems and you know over time yes he became a much better portfolio manager and traitor and went out on his own and but then he's also referred people to me and before you know it my wife and I just started noticing that our profitability and our interest lay with traders in the financial community rather than clinical clients because they were they tended to be a lot more motivated they you know they once they understood they had a problem that they if they could not master that problem they were not going to make traders so you know ultimately we stumbled into it okay I wouldn't I wouldn't say that it was well planned but as I've gotten into it it's it's become literally one of the most fascinating aspects of understanding human behavior and the way humans work in the world and it's just absolutely it's just I'm taken I love this work that's pretty cool story so we mentioned about uncertainty before I'm Krista here in the opinion what is the most or the biggest uncertainty for traders this is when they're in a trade or is it the overall picture of something like will I be able to make it I actually believe the traders problem happen they loser when long before they start trading they bring a particular mindset to the game of trading and if that mindset if the biases in that mindset don't match up with needs or trading effectively they're they're gonna have problems with either getting into trades blowing up revenge trading not being able to take profits when they have it just it's all over the place but the main thing the the biggest thing is the attitude toward winning and losing that's the big deal is they recently I was talking to a guy who just laid down a little over fifty thousand dollars to get this complete trader training education okay from a very expensive source but he said you know I've got it I'm gonna be incredibly well trained and while they were in that training the people at the people are running this thing kept asking what is it you want to accomplish and they wanted to accomplish things like becoming the first billionaire trader this that the other all these really heavy goal-oriented goals that certainly trading when you look at trading and you start leveraging it up you realize oh my god sky's the limit with this stuff and yet most of the world I mean I used to think it was Americans but what I've discovered no soul darn world we're so focused on winning I need to win you know if I win I'm gonna make money if I if I make things happen I'm gonna make money and the one thing I don't want to do is lose I don't want to be a loser it's kind of getting where I played football in high school there was a big huge sign in our dressing room and that signs that winners never lose and losers never win and that was the I just want you system mentality they bring that mentality about winning and losing into trading and that mentality is rooted in the ability to control them okay and when they get into training and recognize no matter how hard they try no matter how much money they spend on systems no matter how much mind control they conjure up is that they are not they are not in control of the outcome and that flips people out that flips the evolutionary psychology that humans that were built to be from an evolutionary standpoint it flips it and it freaks out that cavemen and the cavemen living with you and I and so that's the biggest problem is the mind they bring to about winning and losing I promise you it's you know I have never met a really good trader that was not a damn good loser I give you doesn't this soul I've heard of issue like really big and good traders that tend to kind of like losing their temper when they lose money in the market and they tend to kind of break keyboards or whatever that is and so do you think that's possible to be able to perform well even though you react bad to losses there's a great book and I recommend it I'm gonna I'm gonna slaughter this guy's title but I think everybody should read this and it's the hour but before wolf and dog and it's by an x derivatives player trader who became a neuroscientist and what he really did is the examined institutional trading and he examined the culture that produces the kind of institutional traders that you see and ultimately this is when you know under big days that you know people would get cranked up the fight flight was just cranked up they had to go to the bathroom they had to clear out their gut they had to do they had to do everything like that they were really getting prepared and ultimately what he noticed is that a few guys would have these monster years where they might make fifty million dollars for their firm and they're the ones doing that you know all that theatrics that you're hearing about and then there would be also these guys who only made ten million dollars a year but they consistently did it year after year after year the guy that got the bonuses was the guy who at the home run okay and you know ultimately what happened is in five years the guy who at home run the 50 million dollars was no longer in trading yet the guys who are moving along not making spectacular achievements but really had had the mind for trading they are consistently giving the kind of profitability their their institution needed okay to survive while they look for the next home run hitter and basically what the guy comes down to is that until that culture changes you're not going to see the consistent profitability that like is strive for with retail trading because you know ultimately what I'm looking for are people who are looking to become consistently profitable that that's a big deal not not going and hitting home runs I could care less about that because what I know is a lot of guys with small accounts what they're gonna do is they're gonna add more risk and all of a sudden you start seeing this guy go from five thousand to thirty thousand fifty thousand a hundred thousand and he fills he's all pumped up he's already but what he's also added during that time he started adding more risk and he's gotten lucky and suddenly that risk catches up with him and he finds a Black Swan moment blows everything up that happens all the time particularly with people who are getting into trading to get rich quick and they will they will look at that risk factor and they don't understand that that risk factor can really turn on them and it can become very ugly very fast so yeah you read about that in institutional traders but understand this is that institutional traders they're they're gone in five to seven years they don't laugh as long what you're looking for is a guy who stayed of course and consistently produced money it takes it's a different mindset but it's also a different mindset that comes in the institutional people they're looking for that homerun that's who they're recruiting for or that's with all that stuff and the retail thing is that you have overcome all this BS that you're presented with by the tray during trainings and recognize that no this is really about risk management where you know you're you're not allowing your risk to get up beyond to far beyond 1% on any one trade we would never risk more because your job is to build that thing over time and I have a friend of mine not my ex plan of mine just sent me his ROI for the last year and a half and that it's 77% which if you've been around traders a long time you recognize 77% that's that's what the professionals do there they're hitting that they're hitting any you know when you start hitting between 48 percent and 90 percent return on investment per year that's what really good professionals are doing and what he said is I had to quit using everything I learned about trading but what I incorporated was your work about the brain and uncertainty and I finally came the moment of where I I knew I had to slow down and I had to quit being this alpha who wanted to win and I had to become I had to become the trader who basically vigilantly waited patiently for this set up to show up and was undaunted by the weight I wasn't bored anymore it was just patience and then the train you know that the trade comes it'll show up and you know it will depending that you have a system that works with an edge that works it finds valid setups and you're you're hitting an appropriate level but it's balance that US but it goes back to winning and losing that's what it really your the mine you have about winning and losing and that's why the question I get the most by email or anywhere is like how do you become a good systems and trading so if you have to discard they're consistent like how a good system trader would be what would that look like they're added again and you would see them not getting very flushed at losing you would see them being able to take losses because ultimately you know when you are when you're trading what you're doing is you're taking your risk management as a system is a set of standard practices and you're placing it on top of the randomness of the markets and what you're doing is saying okay I know that if I follow these rules of my risk management I have an edge that if I keep playing this game it's going to produce I'm going to extract more capital out of the markets than I give back ultimately though what happens is when you're working with that randomness we often believe that you know I've got this indicator I've got these really cool things and you know it's gonna give me an edge and it's going to show me high probability and what you ultimately understand is that a valid setup is a is an organization happening within randomness that may or may not play out you don't know and you've built a hypothesis around your work about okay this one looks like it's a go it's a valid set up from my rules and but then I have a friend that teaches and what he does is he's just Randy once we get into a trade we have we have four three minute windows that decide whether or not we're gonna stay in that trade he says most of the time it's the second window that will get us out of the trade because we don't want to be in a trade no matter how much we want that trade to work the truth is is that once we see that trade not fitting our hypothesis we want out of the trade at a small loss now this guy that I'm talking about pulls ten twelve thousand dollars a day out of markets he's he's good and yet what you're looking at is that what he's built and certainly he likes to win and I might add is I actually have a video of this guy taking his keyboard and hurling it into one of his screens so this guy could have matched up to the guys you were talking about blowing up things things like that but ultimately he had to he had to tame that anger become patient and basically become you know but he could not he he used to use anger as a way of controlling outcome yeah when you get angry it's the accelerant and what happens you feel whether or not it's true or not that you can control outcome you can make things happen and what he discovered is no he couldn't and he realized that he had to back down back out of that and out out of that work instead of becoming angry he became an incredibly good loser he did not stay in bad trades he did not feed bad trades with good money and at first there is a part of him that wanted to save that trade but he came to recognize and learn how to manage that in vaults that that's just simply not the way in in trading so that's where the consistent profitability comes in is that on any one given trade some guy I'll give you a good example work with a and he's one of the only friends I have as a trader trainer but he's he's very successful and he has a group of people who would trade around him and these are these are going to hedge fund managers and things like that David's been around for a long time he's got all the he's got all the attachments of high-level success all that stuff and he gets into a tray and as he eats into it he recognizes it no longer fits his criteria so he could town it just thinks nothing of it the next day he has several traders come to him and says David you just missed the huge move and we made a ton of money yesterday I mean you should have stayed in there at David's responses now what happened it didn't fit my conditions and if it doesn't fit my conditions I'm out it doesn't have a backstory okay he has a story this is the edge this is what constitutes my edge that doesn't meet the conditions of my edge I'm out he's not he's not waiting for the homerun he's not sitting here I can turn this trig around I'm just gonna get some money none of that and he's the guy you know he's the guy with the house in Connecticut he's the guy I will airplane the boats and blah blah blah blah blah and he's a great nice guy he's not it just has learned to create rules follow them and recognize the moment that you leave those rules when you've when you add them sitting over the randomness of the markets the moment that you leave those rules you're gambling and what you'll discover in retail trading is that most people even though intellectually they know that geez I know that I know that I need to be able to take good losses but when they're in the act of being there and capital at risk they look at something and they want to make a turnaround they don't lose it and you're recognizing this that's the demon right there that's the part you have to master that's what I'm thinking so you might understand the concept but then you cannot turn it around like one day or anything about understanding your lesson you got a like what do you think it takes to be able to shift that around to change it a lot of practice or your whole dad well it's not really practice this stuff that you read about but I'm gonna train myself conscious mind by repeatedly doing all this stuff with all these visualizations all these affirmations that works until you hit pressure that works too you get stressed and then the old survival patterns kick in the key is this you have to be able to go in and start really and this is where your trading account actually becomes your best friend it's brutal okay I acknowledge that it's brutal but what it's doing your trading account is revealing the effectiveness of the beliefs that you have about managing uncertainty that you are projecting onto the market and you're seeing it in your trading account over time and the hardest thing in the world is to get a trader to look at the trading account as a truth meter and just start saying well what are the beliefs and these are not beliefs that you have in it thinking whoa hey these are not beliefs that you that you just say yeah yeah I believe in in God country and you know blah blah blah blah whatever you know all that kind of stuff now what you're looking at is literally at the level of foundation your emotional brain I does not operate in language your thinking brain and that's the one that does all this talking inside your head when you're trading would love to believe that it's in control but what's in control is an emotional brain who doesn't think as we understand thinking what it's doing it is it is literally it is literally coordinating how to act with the environment for survival and it's happening on what we would call a subconscious level what advertisers know is 95% of the decisions you make are not conscious they and what they do now is they have all this AI technology and stuff like that and what they're doing is they're going in your video tape and taping people they're not listening to what they say is behind their decisions what they're doing is they're watching the body as it engages the stimuli out in the world that the advertising agencies trying to sell that's how it's done it's coming many I'm from the advertising industry and many years ago I worked on a Mercedes account I was looking at this and I I came upon this really curious number and this is in the 80s okay so this is years and years and years ago do you know what the average cost of a repair on a Mercedes was in the 1980s over $1,700 and you know I look hence how can people desire status to such a level that they'll be so stupid as to spend a minimum of 17 hundred dollars on a repair and that that would include like getting a tune-up having an oil change and stuff like that and you're going my god god forbid that if you have something serious but that was the need for status and you you don't see that consciously okay you don't see that consciously but there it is an operation if you're looking for it and in trading what you're doing you're saying you know I need to get I need to get beyond my need for adequacy I need to get beyond my need to matter because most guys are trading really as a way of proving they matter if I make a bunch of money that I'm gonna matter I'm gonna be a big deal and giving that control to the trading gods it's one of the silliest things that you can possibly do it's random you're you know the the other one is is basically proving your worth and I've literally had numbers of guys who are able to build net worth up to a particular moment and once they reach that moment they start losing it back down what there is is there is a belief behind that level of net worth that locks them into that and the key is is that I see in the trading account now let me expose it as basically something the limbic system did that was very adaptive that's why it's there but the problem is when the limbic system is wiring in a knowing a belief you don't see it but it's is simply a knowing of how you interact with the market and when it triggers if thinking is in the way the thinking is just simply pushed away unless you know what to look for and most people don't really use their trading account as a detective and they don't look at these four principles the adequacy easy mattering the Worth and the power powerlessness they don't look at that as every human being goes to that that's what the that's what the limbic system is organizing you around and says four principles and it's those guys who grasp that and start changing literally the brain of what they learned as they engage in certainty and the here and now those are the guys who become consistently profitable I guess you can do it just by repetition I just don't see that you know what I see or guys by the time they get to me they're pretty beat-up okay they they they're pretty beat up in there they've done a lot of different things and they they're still not there and then they start listening to this you know biology stuff and they go oh my god I'll send it kind of accepted and realizing there something else is going on right under my nose that I've never seen and then that's the big deal the thing is for most people it's hard to see that like once you have a little bit of problem you see although it's fine I'll just fix it myself and then you have to go deeper just to figure out that you can really help to fix that yeah what a lot of people just simply I get that all the time you know if you were to go to my website there's something that I call the poor man's course and you know it's to get all the materials cost may be able to hundred fifty bucks pretty cheap and we sell a lot of those and we've never named it and yet we keep seeing the same groupings of the book the workbook the retail guided meditations you see that all those lock together and what you know is these guys are saying I'm gonna do it myself and some of them do and I get I get people writing me back saying thank you thank you thank you you know I listen to your videos while I'm trading I I do I've done your this course I've invented I've done all this stuff and I've improved this trader and I look at it and go I wonder when they're saying they've improved as a trader are they also saying are they consistently profitable now again to feign that would that's the best the measure that I'm gonna use to judge whether or not a guy can trade or not and when you start going up you know when you start saying okay well what if I can't do it myself what if I need help it's kind of like neurosurgery you know something I'm not gonna do neuro surgery on myself i'ma go I'm gonna go find someone who really knows what they're doing and can get in there and it's kind of like Mike right now I have a heart condition that's gonna require surgery okay and we're it we at Duke University and I realized way over there in Thailand you would know who and who do the koalas but Duke is one of the eminent medical schools and doing heart operations they're just up and beyond anything and when you sit down and talk with these guys they talk a completely different game and I'm going yeah these are the guys I want you know I know that I can't do this myself it's beyond my paygrade it's beyond my capacity but I can I can use these guys to get that jump now I don't have to learn what they know but ultimately the the trader has to learn the way his emotional brain works there's no way out other than that you're gonna have to learn the way the emotional brain works and you're gonna have to be able to take that emotional brain that you're dragging around with you anyway and the thinking brain and you're gonna have to put them together as team so do they work together their best that's how you become a successful profitable trader not by saying I can do this I can't tell you how many people I've talked to that says Randy I've lost three hundred thousand five hundred thousand a million just going up and I don't have any money now but now I'm a true believer in your work can you spare a dime can you can you teach me for free well well I well I'll learn how to do this the answer is no I'm a catalyst you know and I'm so sorry that you believe that you could do something you could force the brain into doing something so totally against its design and actually hold it I can make this happen and recognize that there are ways to build that mind to accept uncertainty very differently then it was designed to do from the African savannas with evolution but it's it's gonna require work it's gonna require training I've come to understand that there is going to be blood and that there's going to become there's going to be lots of blood and it's foolish for me to try to convince people that they're just human that they bleed like everybody else and they have to learn themselves so a desire to trade that's actually what I like about your company it's a desire to trade you know they've got the desire now what am I gonna how am I going to translate the desire to trade into profitable trading and that's a yeah that's a big deal I guess the other place where I see people fall short and I'm like super got there that myself in the past is like you get some results you get better we can say we get possible and then you get to like you don't maintain your success you don't do things on the basis to maintain that then you kind of fall behind so what are some of the some of your either exercise tips to be able to kind of sustain and keep on the same level all the time you know something there is say from the American Revolution there is a very famous quote that I know I'll claim is my own okay and it's called eternal vigilance is the price of freedom the problem that you're talking about is when people start becoming profitable you know in their minds the only thing they can really think about is they've gotten they've overcome their fear they've overcome your aggression they've done all this stuff and everything's gonna be they're just going to go off in the sunset and they're gonna start making money everything's gonna be fine and this is what we call euphoria now you may know it is overconfidence but from a from a neurobiological standpoint its euphoria and euphoria is an emotional contagion that has you believing and just outrageous things okay that you can go into a casino and you're hot and you're on fire and you can go to the crap table and you can just win big not an understanding is that they're gonna take you money odds are on their side it may be on your side for a moment but you play that long enough and it will be on their side and you know ultimately in euphoria you start believing you start believing that you know how to trade and you lose your ability and what you do is you blow yourself up happens all the time and what they discover is that what guys discover is that the most dangerous thing is the your fault because that's when they all that's when they'll let the the risk factors get out of hand and they really believe that got it and that's where you see them blowing out big chunks so the moment you start thinking that you've got it together is is the exact moment that you've lost it that's how not just humble but that's just how much emotional mastery is required to consistently produce profits over time and trading the do that's that's euphoria it's and it's a big one so is it more also like a mindset thing you gotta have the right mindset or are there things that you've got to do to kind of keep the mindset there's things you have to do - um in in my work what I'm doing is I'm teaching you how to build a mindset and then I'm teaching you how to maintain that mindset and there is a lot of people don't like to talk about this but all human part of their being is both incredibly destructive and very constructive you can see that on the the example I like to use is there was a UCLA experiment in the late 60s early 70s of where they took UCLA kids college kids and enrolled them as guards in a prison and what they were gonna do is they were going to they were told that they were going to use classical conditioning to condition non-compliant prisoners into obeying rules and they had a one-way mirror where they were watching the prisoner and he was locked into something what we would look like as a as an electric chair and every time that he was non-compliant to request they would give him a shock now the prisoners were actually graduate students who were in on the game they were not being shocked there was no one-way mirror the graduate student could watch as the as the guard the kid was was getting ready to shock him and what they did they took UCLA college kids and in three days turned him into lethal killers the kids were knowingly giving lethal shocks to the to the graduate students the the prisoners because they weren't compliant three days okay hey that's that destructive quality that lives within all of us and if you do not acknowledge that that lives within us and and in my work I call that the inner critic okay if you did not acknowledge that it lives within you and that you need to be alert to its presence it will sneak into what I call the Committee of the mind and it will create havoc you have to become an observer of the mine that you're organizing and bringing into trading and you know with me what you would see I'm training people to have a specific mind and that they've already looked for the inner critic that they know where they're worth the nature is their darkness is and that they they are they're ready they're ready to engage uncertainty and with stress in it and they've been taught how to handle that and not have the survival instincts kicking it in and and that takes training that and that's not something that you know that's not something you're gonna say well I'm gonna get this mp3 guided meditation and I'm gonna listen to it for three or four times and I'm gonna have it no it's it's rerouting the brain from from the African savannas to the realities of the the randomness of the trading worlds it's quite a journey that's what happens and to become alert to that and get rid of all that positive thinking BS or that you know that stuff that says I'm just going to think positively and everything's going to be great everything bla bla bla bla is no there's also enormous destructiveness going on at the same time and if you don't keep up with that it will bite you and I realize that's a bummer to talk about but um people people who grasp it and recognize that it's just the human condition you know I mean it's trading today but a few years ago like with the San Francisco 49ers those were guys going out to strike it rich either in California or Alaska and I can't tell you how many men died you know trying to make that strike rich and they never saw the destructiveness of what they were doing guys likely vows try Strauss decided this is too hard to work out you know I can sell them cloth and make a lot of money and he did that's what jeans were that's what these guys wore so it's it's it's building and maintaining the mine and recognizing that that mine Hess has to truly be maintained or it will it will start sliding in different ways and usually that's that's not good for the trader yes losing gets a for sure and I know for a fact that the short cut will be like people would love that better but there's no shortcut in that kind of feel there's no shortcut but they want it it's kind of like what you'll also notice is that trading now has been grouped with property management of where you're going in buying property making a lot of money and all that kind good stuff what you see is trading is grouped in the same thing is I I started seeing a number of people who got into rental properties and stuff like that and it's a way of getting rich quick because you know you get properties and start taking cash out of them and you have short-term cash just sitting there of course you've taken money out of the property and you owe it but let's not talk about that and that same kind of mentality they start they start coding trading with and training you know there's that old joke you know how do you make a small fortune in trading start with a big one you know and it's this is really about not getting rich quick this is about retraining the brain in the mind about how it engages uncertainty and that's what it's about that's powerful for sure for people that you work with is there like a average time that people need to be able to reframe their thinking and change how they do things three to four months yeah it's funny because we have a the grid course that we offer is a two month program but what you what I recognized is that when people take that course it's coming at them at about a hundred and fifty miles an hour and so what we did many years ago is said you can audit another course free you also have access to the course materials for an indefinite amount of time and we have people going back to the virtual classrooms the key is is that I'm looking to do is to be able to say I know two months is a very short period of time to be able to start integrating this kind of change into the system and that's why I want them to have a lot longer access okay and and have another and have access to another group course so that so that the speed of that course slows down the second time and the individual course we anticipated being three to four months and it just takes about three months for a brain to change the limbic beliefs that it operates from that's the main thing and most people find four months is better and to integrate it fully takes about a year so it just it takes time it takes work and what we found is the guys who actually see the change happen those are the guys who do the homework those the guys who say oh my god this is this is like going to school this is and what happens is that I I have um work I have to do it I have to apply that homework to the medium of trading and as it starts as I started as long as you're in the yoga studio it's absolutely useless if you're not learning the skill in the environment that you're in you're not learning so we're looking at it and going you know three to four months is the bare minimum and most people discover that five six months is what's really necessary to produce the kind of change they're looking for I look at that as short-term you know and you know when you know when a guy comes to you and he says well you know something I want to be trading five five contracts so I can be banking you much money and I'm going well what how are you doing with that he says I'm doing horrible and I say well I'll tell you what I can I can train you to use systematic desensitization to be able to move from one level of putting risk on the brain to an another level and I can have you I can have you doing that in in a year it's always way too long and I will ask well how long have you been trying about seven years and I'm going okay okay the brick walls right over there you know the brick walls right over there just keep running into it until you've hit it enough to know that I need to think of another way of changing the brain the trades that's really right boils down to interesting stuff and how do you know that that change happened can you spot in the way or is it just what you're doing account that you'll see your trading account yeah it's the only thing that matters yeah you don't okay something you do not trust your thinking your thinking can get so skewed and but what happens the trading account is constantly telling you the effect if that's the beliefs that you're projecting onto the markets and it will not lie to you it's your friend you may not like friend as to say but it's your friend that's how you know that's why when people write me I'm looking for their return on investment over a period of time as a measure of basically the development of their skills I already know that there's plenty of people who can do this work in spots but I'm looking at have you trained yourself for the long haul that's that's really that's really the deal and I think if a lot of people understood what's actually required to produce success in trading it'd be a lot less people jumping into trading okay mmm it's uh it's a lot of work and yeah and you have to love the game of trading not just winning and making a lot of money you just have to love the game of trading but the good thing is threatening these things fortunately help you in other areas as well in business and they even personal life in some ways oh absolutely what people discover is that particularly their lot as they start learning how to reorganize the potential that interacts with uncertainty they realize that's all the brains been doing ever is that basically we live you know we live in existence within randomness okay and I would actually say to the religious folks is that God lives in the randomness and so you know even God has a randomness to it that that goes up and beyond anything we can imagine becoming comfortable with uncertainty ambiguity is just simply part of mastering and as you learn that and you quit trying to make things happen you learn that you have a lot more power in a different direction than you thought you had it's it's it's quite remarkable that's like so Andy I wanted to take your time almost an hour in so what can people find you don't panic with you or reach out after this interview well the website is probably the best place or the YouTube we get a lot of we get a lot of people looking at us and YouTube you type in Randy Howell YouTube and you're gonna be taken there and my my website is my traders state of mind calm our traders state of mind and that will take you to my website which there's lots of free stuff there lots of videos there there's lots of articles there and you get to explore a very deep space about how to redesign the brain for trading awesome remember this is asking you just the first time but what are your goals for future not my goals is to take this work and to generalize it away from the financial community into the more peak performance human empowerment model and that's I'm writing a new book based on that and I'm doing programming now based on that so I I do not want to I I do not want to die and then on my epitaph read that yeah Randy made me a lot of money I'm not I'm not interested in that I'm interested and in people who were able to seize opportunity in to build a completely different human being than the one that they started with that's that's the thing that really works for me so mine mine is up and beyond it's you know trading has been good to me and I will always be around but I I believe that I'm being called to to further my work with more general populations it's awesome so things were friendly for this interview and I wish you would look for that goal for sure you are so welcome I've had a lot of fun you [Music]

Channel: Etienne Crete - Desire To TRADE

Views: 139,779

Rating: 4.9379506 out of 5

Keywords: desire to trade, rande howell, trading psychology, trading, howell, rande howell trading, rande howell overtrading, trading psychology rande howell, make money, make money trading forex, train your mind to make money, trader psychology mindset, professional trader psychology, psychology of a successful trader, mindset of successful traders, mind, trader psychologist, train your mind to make more money, desire to trade podcast, desire to trade interview, traders state of mind

Id: qq-_QuO2qRM

Length: 49min 49sec (2989 seconds)

Published: Sun Mar 01 2020