Weaponize your mind to get peak performance as a Trader! - Trading Psychology lessons

Weaponize your mind to get peak performance as a Trader! - Trading Psychology lessons

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hello traders this is blake maher with trader  summit and with me today i have mr mark randall   co-founder of alpha mind how are you mark hey very  well from london blake good to see you it's good   to see you and i am on the other side of the  pond and then a stretch of land in between so   uh so good to have you here today um  you know i wanted to introduce you   really to the trader summit community uh because  your specialty is something that i feel as a   trader personally is something that every trader  needs um you work with traders in in more of a   psychology standpoint uh point of view do you  want to tell us a little bit about what you do   at alpha mine sure we work on the on the mindset  and sort of behavior aspects of trading and   developing self you know the the power of the  uh of the person is is is a significant force   that's very that's very much untapped um people  often ask me can you make me a better trader   and i start off by saying like first i need to  make a make you a better a better you i i need   you to try to guess regulate yourself and  the ecosystem around you so we we work upon   that self we work upon that ecosystem and our eco  system can be a corporate system that surrounds it   it can be a corporate culture sure it can be  a ship culture it can be executive culture it   can be a it can be the ecosystem around us all the  trades that you're doing and kind of understanding   some of that uh based upon some of our own  experiences so we we kind of look at the whole and   develop it from some things that we know  that people just don't pay attention to   you know the sort of the the idea of weaponizing  the mind is often the way we we've placed it   particularly in this world where you know  performance and peak performance is is pretty key   and we're looking to develop and arm this  weapon that you can create from this ecosystem   through yourself into the market very very  often because we're not managing cell phone   because we're not managing ecosystem what we're  putting out as a weapon that turns mid-flight   and actually point straight back at us and all  we're doing is we're going in defensive mode   you know trying to protect ourselves from this  own thing that we've created and so when we   drag that into a complex markets environment you  know how aware are we going to be of the market   right we're going to fall over rapidly and fail  and guess dwell on failing well in that state   you will so alpha mind is is tuned in to all  of those rose elements about what can we tweak   what can we shift now what can we do about you  and i think you know the concept of hydration   much discussed in the military not discussed  in trading but you're up there is 80 water and   if you start getting dehydrated at the top of your  head the thing that's losing water the quickest is   whatever's on top so hydration is important oxygen  is important all those elements we're looking at   and going into systems or speaking with traders  whatever they are or even sales guys and brokers   you know which are quasi traders if you've come  from that market you know what i mean and just   said how can we make you better how can we  optimize you how can we really really tune   you into peak performance that's interesting you  know even just with a few minutes of listening   to i feel better about myself already as a  trader so let me ask you this as a trader   you know looking at you and and by the way you  your your partner is stephen goldstein who i've   met over the course of last year in the trader  summit community we've uh we've had him as a as   a guest speaker in the past at one of our one of  our panel events um but why should uh why should   i as a trader seek help from you mr mark randle  can you tell us a little bit about your background   sure i was a day one trader on the london  international financial futures exchange so   openout quite trader um i that was in the  early 1980s and i thrived and survived you know   stupid markets through the 80s through the 90s  cultural change leadership change product change   flow acceleration where factor suddenly opened  up the markets to the whole world we went from   doing this amount to that amount of everything  yeah and having to get your head around that   i i'd um i was lucky that in the 80s this is how  luck looks strange when you look back at it but   it was luck um i was getting sort of you know  the panic attacks and blackouts because of the   pressure um couldn't go on an underground train  without feeling as though someone was strangling   me because i was carrying that stress into all  sorts of environments i also suffered from a back   condition called ankylosing spondylitis which is  arthritis of the spine and so that was giving me   all these reasons to suddenly you know find life  a bit difficult and uh i actually was speaking to   my mother and she said look your grandmother  was really interested in healing go and find   something on healing i thought really so i you  know went to something called the library and   found a research piece on healing and it  pointed me into this direction of this   you know if you look at it today as kind of  quasi-mindfulness but it was like exercises   for the brain and just these these ways of using  the breath and visualizations to just kind of sort   yourself out and i committed to this and that's  really important so i committed to this process   of change and stuck with it within weeks calmer  more positive you know i was dealing with complex   things i'd normally walk away from more engaging  in terms of relationship building better business   i guess i found a secret weapon and so i developed  that through the years i was running the um the   broken desk of uh of greenwich natwest when  greenwich were quite literally masters of the   universe they were they turned up on us on on the  scene and we suddenly thought okay this is how you   do it right they were like stealing people from  goldman's rather than the other way around so that   that's what was going on there so we had to kind  of grow up and but you know my attitude my mental   capability kind of helped me take on that role  um anyway so right away through the naughties   and into the teens um i was in futures and i was  developing complex things with the commodity world   and you know in the background you  know you have a trading instinct   because if you're a broker there's an awful  lot of trades that end up being your trade   for whatever reason yeah so you need to be  supermarket aware and of course portfolio   aware because a trader is focused on that  but as a broker you were kind of looking at   all these ideas and opportunities and packaging  up for uh for trader to understand and then how   to risk manage and to to look at in terms of  profitability all that sort of thing and um i i   then got to position mine fitness into the um rbs  natwest global business and i guess went bananas   it guess when bonkers and i was busier delivering  mind fitness and mental capability programs   than i was doing in futures which sounds  interesting so that's how you made the transition   wow and so the transition kind of happened from  a legacy dna piece that kind of at this moment   that got brought to the surface in me and then  as soon as the business saw that i had this   capability it kind of i mean futures get i mean  i was bored of the bank conversations it was like   and my line manager had just like nothing to do  with what i was doing because i was doing stuff   that that was helping people flourish and  survive and you started to understand that   you know traders ops guys i.t guys and then  it extended beyond the business as i became   a consultant you started to understand  that it wasn't really about the job as a   some people had some horrific things going  on in the background and it was all about   having a toolkit to deal with that and bringing  about you know the proper work-life balance and   all that way of really optimizing your ecosystem  you know to drive you going forward um and so i   became someone really involved in in building up  people's ecosystems so they could perform better   in whatever they were doing so i didn't really  start with the fact that i was going to make you   a better trader i was going to start the fact on  and make you a better you first that's you know   it's so interesting mark i i feel that that your  aspect of the business is probably one of the most   i i don't want to say it's the most overlooked but  it's really it is quite overlooked and quite often   um traders think that they think about process and  they think about you know what can i do better to   to get it to yield a better result from um you  know whether it's an execution standpoint or   it's the way i'm i'm viewing the markets but  a lot of times it's really just deep inside   and and and fighting some of those inner demons  and and so with that being said um you know being   a trader and working with trading psychologists  over the years you know how many years have you   been working with people would you say since you  made that transition that happened to you to today   how how many years has that been well well that's  been about six but actually if you look back   through my career i was doing stuff within the  business that was essentially what i'm doing now   yeah okay because actually people were coming to  me and saying you know can you help me with this   and when you look back when you have these  kind of skills and that sort of attraction   yeah people tend to come to people that they  think are wise for whatever reason sure and   and you know with your with your now with your  knowledge and many years of doing this you have   a very good sample size of of traders that you've  worked with so what would you say you know i it's   i want to phrase this correctly and and  maybe you can you can help me along the way   with traders that you've worked with and  what would you say is the most common   uh i don't want to say like worst trait of  a traitor but what is the most common trait   that you've come across that you can say well you  know across the spectrum i deal with this the most   what would that be well if you look at the  people that stood out as being bad traders   irritable right looking as though they were  stressed all the time yeah yeah impatient   really bad to be with you know that's interesting  very loud very boastful of things that often they   were trying to make bigger than they actually were  to say they always made money when actually you   kind of knew that they weren't holy cow are they  all on social media because i think i see them all   on twitter i'm just kidding joking about that  right just looked through an awful lot of them   sure that that was a con another thing was that  they had very poor education based around markets   so they kind of maybe just got into the role  and guest did a job job job job job job as it   was just a nine to five job sure and i didn't  embrace the fact that they needed to learn   they needed to read they needed to to learn  technique about themself uh learn the market   about the product um even the appropriate  foundation of things like technical analysis   you go around trading them look at some of the  technical technical analysis of analysis people   are doing on screens even to this day you will  conclude that 95 of people that are trading now   for professional businesses have  not got a clue what they're doing   it's a great point great point i haven't got a  clue what they're doing yeah so you start to get   and so that defines bad so that to me that's bad  and you see bad very very often and you see people   the almost the lastminute.com you know payroll's  coming up and it's like okay i need to put a buy   stop in there just in case it takes off with a  take profit up here i want to put a sale stop in   at the same time and i cannot and i'm like putting  this stuff in and take profit on the sale stop   and they wait for payroll to come out and bang  that's their trade that's their trade of the week   um i saw the worst trade ever was when someone  put that in it was so big it was so stupidly busy   that the buy stop got triggered on the way up  at market in a fast market that got filled above   the sale price above the ask right right and and  within i'd know seconds the market had collapsed   triggered the sales stop and the sales stop got  triggered half a below to take profit by level   and you explain that to someone  that had a 10 billion euro fund   oh my goodness wow in a thousand contracts  per per trade and and you think you know that   so you have you i mean you're working with  an institutional size trader that really   shouldn't be uh dealing in those sizes i mean just  let's let's let's be honest here but that's that's   pretty wild mark and you know and you know i  look around absolutely but being in the being   in the business as long as i've been and um i  haven't i haven't i've never traded for a bank   um so you know i've i've done a lot of facets in  this business and i've traded a lot of different   instruments um most at that but you know it's it's  amazing after so many years you know you'd still   see a lot of people that control large amounts of  money that do make quite often um those types of   mistakes but let me ask you this then you know and  we're going to end it on on a on a positive note   so with with your sample size and all the all  the traders and you know people you've worked   with over the years what do you say what would you  say is the most common easy fix where people can   start like like i i've got all sorts of problems  you know you open up my book and you're like wow   holy cow you do this you do that but what where  would i start what would be the most common place   for me as a trader to start working on well good  journaling is is important i think a lot of people   focus on that yeah but but if you put something  in the journal that's a negative that was a bad   bad moment write it in like size two  font or something so when you look back   so when you look back in time it doesn't like  hit you in the face of the negative right um because from a mindfulness point of view  it's all about triggers and tripwires and you   don't want to be inadvertently tripwiring yourself  into a negative thought process about a disaster   and you you're bringing yourself back in  time to that disaster so you can't let   go and you're reliving that disaster you want  to try to avoid that so that's number one tip   second tip is you know the ability to step  away but step away physically and get out   in the garden and get some fresh air and find a  place that is where you just sit and you guess   just tune into the environment nothing breathing  or anything just sense the smells and see what you   can see see how many colored greens you can see  and just tune into your senses of wherever you are   outside of you sitting in front of a  trading screen and fit that into your day   even if it's like 20 seconds but little little  pauses little and often will keep this fresh   it'll keep it market ready um i mean in trading  that's what you want to keep your market ready   and it will keep your awareness aware and  attentive because all this stuff gets in your   way if you don't manage it so keeping yourself  aware staying aware looking for opportunity being   making yourself awake to the moment you know  that's a very critical point i mean all this   is about waking up it's not about falling  asleep it's about waking up to the moment   that is the market that is the only way you'll  be able to manage and see any opportunity   well mark you know there's a lot to unpack here  and and i and i have to say that you know spending   this this short period of time with you has been  very beneficial to me what i'd like to do the next   time we meet up we're going to unpack my mind a  little bit and maybe we can work on some issues   that might be so common or more common to some of  the other traders out there and i think you might   actually have fun with this and i might cringe  a little bit how about that i would say that   some of the one of the best traders or the best  trader i ever knew gets to leave on something else   for for the audience okay was he wasn't a trader  he looked at the market philosophically and that   he looked at the market as a vibration rather  than a bunch of bunch of lines right yeah   he made more money than anybody i've ever  known and for seven years never took a loss   wow that's every trade he booked made  money i know i know what he was doing   but there are rare cases of people out there the  genius that have thought it through that spent   the time i sent him two years of point and figure  charts when he was trying to work out what to do   that's how much work he did to work out the  way he was going to trade and he was not a   trader he had no screen in front of him and he  made more money than i've ever known anybody   in the markets make and actually of some  of the people i've met on the retail side   there are some traders out there that are retail  traders that are better than most professionals and you know what without going too far  into it i'm actually taking notes right now   i think i know why but people are gonna have  to wait for our next meeting and uh mark i i   i truly appreciate our time here or your time  with us here at trader summit so how do people   um find out more about you and what  you do sure so alphahyphenmind.net is a   brand new glorious website um which shows the  work of stephen i showed you how to contact   us it shows you where our twitter feeds  are on alphamind101 and now for mind102   we're all over linkedin we have a linkedin  channel called alphamind as well that people can   join and that's got about 20 000 members or  something um so we've got a lot of thought   leadership going on but you know plug in  on linkedin tune in on twitter i think   steve has just got this automatic feeder thing  for tweets so he's got loads more tweets than   myself but you know every now and then i say  i say something sensible but they're composite   so so they're they're they're our ways of of  looking at us and finding out a bit more about   us and of course anyone that feels as though that  that they they need some some further professional   guidance um then of course they can find about  more about our services there great mark you know   thank you so much for spending your time with  us today and like i said i i look forward to   our next uh meeting and um and guys and gals you  can find out more about mark randle what he does   with his with his partner steven uh down below  in the link below you can get directly to their   site as well and make sure you're checking  back at uh at tradersummit.net because we   actually post some other podcasts here on our  site so mark thank you so much for spending your   time with us today yeah great great you mentioned  the podcast yeah we got a great podcast as well   i love the podcast i actually i i actually just  one of the things that i do when i walk an hour   at night is i listen to your podcast so thank  you the top five trading psychology podcast   so uh we're we're we're we're more more um more  viewed than cnbc and people like that and by the   way i'm gonna i think i'm gonna be on there in the  next couple weeks it's ours is getting released thank you mark have a have a great one and  and thanks for spending your time with us   welcome well farewell from london  take care all right take care

2021-10-13 01:44

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