8-Figure Trader Shares Keys to Success - Lance Breitstein (Part 2)
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- čas přidán 26. 06. 2024
- WATCH PART 1 HERE 👉 • 8-Figure Trader Shares...
8-figure trader, Lance Breitstein, shares his trading insights. In Part 2 of the interview Lance discusses how traders can combat trading biases, adopt a growth mindset, deal with adversity, and much more.
0:00 Introduction
0:41 Combating Trading Biases
6:46 Growth Mindset
12:34 Trading Losses
22:09 Striving for Constant Improvement
29:14 Grit
35:57 Stock Selection
44:46 Habit Formation
50:46 Risk & Trade Management
1:01:19 Coping With Consistent Losses
1:10:20 Performance Coaches
1:16:04 Lightning Round
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Takeaways for me
9:15 - if you lose or doing something bad - you are finding out about and weakness and your job to evolve your system accordingly
15:28 - continue - shoring up armor
17:30 - super power - re rep not only good days but especially bad days - channel those negative emotions to improve and get better
21:25 - when have really bad day - dont leave till you figure out how to get better and never do that again - have to work through it
22:10 - what contributed to that good day - dont just brush over it - reflect on whats happening on wins as well as losses. could it be better
27:30 - magic is in 10k hors spend studying and interpreting your system - have to put in reps on your own
33:20 - top ppl recognize that in market where have to turn it off and adapt - no c trades - but when get aces still gotta bet big
39:50 - go gamble where your going to win - need to adapt and find whats working in this market (what if it last 2 years) need to be able to trade in all environments and build your playbook. find a broken slot machine
53:00 - dont trade the c set up and move that risk to A. Exponential risk and exponential EV. This what made him exceptional. covers small losses
1:02:00 - have to trust the process. imagine if you played poker and lost with aces. it happens. If 70/30 coin. Would still have losses in a row
1:09:00 - systemizing taking a case of every scenario can think of and building a case of whats good and whats not (edge finding)
1:17:00 - learning curve - deliberate reps and feedback. everything needs to be to purpose or goal to get you further. not just sitting in seat
Addicted novice trader here and once I realized that my losses would help me learn more then any win I’ve ever had , everything changed. Excellent interview !
Lance shared so much gold. Key takeaway for me is it's time to combat those limiting beliefs. Why not me? Lance is so inspiring. Great interview!
The best interview on trading I've ever watched. And the interviewer is extremely amazing as well, so shoutout to you!
There is so much gold in this interview. Thank you lance !
this interview is probably the best one ever made with the biggest learning aspect. And all that without ever going into specifics of a setup.
Bring Lance back anytime, not getting tired of it. :D Great interview!
"Why not me..." Love this. Simple but so very true. It all starts with your mindset. Something I am working on to improve.
This is pure trader psychology gold! Trading is 80% mental and 20% technical analysis.
Mental borns from having a good system.
disagree here. The more of an expert you become in one specific setup, the less psychology you need. It is important, sure. But instead of wasting so much time on mental work, you should study your setup more. Study hundreds of stocks and their history and look for your pattern. Analyze all details that happen during that setup. Boom, next time you plan a trade you know directly whether it’s worth it or not to enter
TA is just astrology for Men.
@@FortunOfficial your right your strategy will give you your confidence
Very IMPRESSIVE video. Content has been very good hope IU keeps doing these type of interviews and post them.
This Lance Guy is everywhere!
1:05 When thesis meets setup meets price action that is where money is made.
lance... the trader i love the most
Wow such a great interview. I feel so inspired to do, to be better. Thank you Lance. Thank you Anthony. Thanks you IU.
What an excellent interview....... thank you !!
What a brilliant individual, thank you so much to lance and investors underground!
18:45 - SO SO SO true! I used to let my losses get to me and at times take me down a crazy spiral... Over the years I have learned to accept these losses (and not only w/trading, but also w/my eBay business), as part of the game. Get better and better at managing losses/emotions during these drawdowns.
it was extremely helpful
Absolutely amazing 👏
I did watch the whole video. This is really helpful, great sense, and I think this type of interview should be the standard. There's nothing about boasting, marketing or any sh*t nonsense about trading, it's just pure good information. Gold nugget video man.
P.s. if you really watch the whole vid, you know that his armpit is sweaty! kiddin aside. Great vid. Thank you! :))
Powerful mindset 💪🏻
Incredible stuff guys! Thanks for sharing.
Thanks for sharing the helpful insights Lance!
Thankyou!
- limiting beliefs
- your identify can limit you. Use cues to help you to your advantage
- elite traders: i can do x
- focus on process, not outcome
- use extremes to build systems to see what's good and what's not. Eg what does the setup look like with a news catalyst, with high volume, with short interest, no news. Go through every variable you can think of
- don't compare unless you're learning from them. Put your best out there.
- what's your why. It can be dynamic
- be the happiest, healthiest person that gives back
- work effectively overtime. Not working hard mindlessly. Purposeful, deliberate feedback towards a goal
- volume, price most important
- bet exceptionally more in exception results
Lance, thank you for your time and attention. Awesome video, one of the best motivational videos ever, period
Always blow my mind to hear such quality info from guys like that, so high up in the game, who really don't have to, but just enjoy giving away for the good of others ! Golden nuggets after golden nuggets - Great vid, great mind, great guy !!! Thanks a lot Lance 👍👍
What a great interview. I was inspired by Lances comments on limiting beliefs 3:00.. Thank you both.
Man this stuff is good.. great even, but I need to see his charts of his past trades, entries, stop loss, take profit, what setup he saw. like the TWIST podcast. 100x more helpful, imo.
I just love Lance!!
People who achieve big things in life don't look at failure in bad way rather reframe it as an opportunity to learn this it self takes a lot of fear away.
Thank you for sharing this stuff Lance! Sometimes I have a hard time trusting that I'm focusing my energy on the right things and listening to this helped me confirm that I'm focusing on the right things and to keep showing up. Great job on the interview Anthony.
So we’ll said. This was very helpful. I been truly Experiencing exactly everything that was mentioned. This information Couldn’t have come at a better time as I build my trade plan and Battle with the psychology of what it takes to be a good trader. Thanks for this interview. I will listen to this interview every day to get my head straight.
Unbelievable interview!! Great questions that allowed him to go into details on his perspectives. A lot of wisdom there!!
Iterate out the bad. Double down on the good.
Such an awesome and insightful interview. I learned so much about persistence and consistency. Thank you for sharing!!
You had me at Zimbabwean snake breeding rights.
"When you bet exponential on an exponential, things just go to lollapalooza world"
39:04 the best!
Great interview. Now I'll go and watch the part 1 ❤️
This guy Lance is on it
Thank u for ur time
Amazing interview
Great stuff
Regarding the big bid/offer on the level 2 , you also gotta ask yourself, why is this guy showing himself and his size when he can iceberg it, is this at the low/high/extreme of the day or at an important level and other nuances. I've been trading sh&t liquidity stocks for my whole trading career and I can tell you it's all about the little details. why would I in my right mind show my 100k offer on a stock that is already selling off if I'm "trapped"
8:00 Kenny SMB
What is the AMCG markets ?
Love the beginning, seriously why cant I figure this stuff out if others have? I'm going to get on SMB eventually, who can stop me but me?
52:30 gem
AWESOME!! Hmm . . . The ability to sustain! He is just like me, if my play book is valid, if the key recipe for success is there, and I have the right mindset. Yes!! I can do it too. Great authentication and sincere interview. Great job guys!! Very inspirational. I needed this video this weekend. Warm regards. Keep up the great work. iHUNTCharts
I'm getting "Go big or Go home"
I feel like I have the mental conditioning to wait for a trade and follow a process but I lack the setups and helpful tools such as scanners to be able to take advantage....
must be wonderful to have so much money that the only thing you have to think about is being the happiest you can be.... wish I had that.
Lance is pure gold. Thank you!
Can you ask Lance how can I learn more setups?
Does anyone know who Lance refers to at 8:00 ?
I believe Kenny Sharkness (aka Shark), a successful trader at SMB
This Joe Biden market does suck