Developing Traders State Of Mind Self-Study Course

Developing Traders State Of Mind Self-Study Course

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Description of the Developing Traders State of Mind Self Study Course

DTSM Self Study is the same course as the DTSM Group Course, except that it does not come with the 5 live group sessions with Rande Howell where you can work personally with Rande and it does not allow you to experience group learning.   It also does not give you the latitude of email contact with Rande.  It is for traders who like working alone and/or those who are looking for the most economical way to learn the Developing Traders State of Mind skills.

This course uses the materials from the virtual classroom which includes 10 hours of videos containing lectures and experiential exercises.   It is built as a 10 week course, but since it is self-structured, you can learn at your own pace.

Introduction  — This course starts with a video introduction of the course and its scope. Also included is a recording of a trader psychology webinar that Rande presented on Wall Street in 2011.  This is a training for traders.  It gives an overview of the process that you are going to be learning.  You get to see how all the  elements are linked together to produce a Traders State of Mind.  The course becomes more cohesive by understanding the process from the get-go.Class 101:  Emotional Regulation — Calming the Body, Stilling the Mind

Before you are able to work with the self-limiting beliefs that sabotage your potential in trading, you will be taught first how to manage emotional reactivity.  Until you can regulate your out-of-control fear or impulse, getting into a position to work with the mind is not possible.  Consequently, breathing and self-soothing skills are taught so that you can interrupt emotions before they sweep your trading mind away.  The training is applied directly to trading situations that cause you the most problems including evaluating set-ups for entry points, pulling the trigger, being in the trade, and losing a trade.  Thought-stopping techniques are conditioned to be an automatic response to increased arousal and agitation.  Literally, you will train your brain to trigger to a state of calm as you begin experiencing stress.Why teach breathing?  Breathing is important for emotional state management.  Each emotion has a particular breathing signature associated with it.  And by using this knowledge, you will be trained to mindfully use breathing to interrupt the spiraling of fear.  Fear requires a short, fast style of breathing to maintain itself, and you will be trained to use diaphragmatic breathing to interrupt this part of the arousal of fear.  Until fear is managed, accessing the mind and changing it to a more productive position is not possible.  Breathing is the base skill to begin this process of transformation of yourself as a trader.

Then you will be taught how to generate a sense of safety so that your mind calms down.  It is at this point that the mind itself can be worked with…and then you will have the skills to manage the explosion of emotions that have dominated your trading.

Class 102:  Mindfulness Training — Creating an Observer of the Mind

The next element taught is mindfulness.  You will learn how to take a pause (from your emotional regulation training) and take a step back from the frenzy of your thinking.  You will be taught how to take a step back from becoming fused with fear-based thinking and begin to realize that you and your thoughts are not the same.  Developing this new tool of mindfulness allows you to observe your thoughts and emotions and begin to realize that there is a distinct pattern to your fears in trading.  There is a powerful freedom that comes with realizing that you and your thoughts are not the same.  Mindfulness is the door to change.

Automatic Assessments

We are blind to the self-limiting beliefs that drive our lives, including our trading.  We don’t see these assessments operating in the backwater of our mind.  In this section, these automatic assessments, masquerading as unexamined beliefs, are revealed.  You will see how they are driving your mindset from which you trade.  They appear in the light of your awareness so that you can challenge them.  Here you begin to separate your competence to perform in a domain (trading) and your inherent worth as a human being.  Most traders have been trying to prove their worth as a human being by their performances in trading.  This produces disastrous results.  Here the first step to understanding automatic, negative assessments and the thoughts in your mind is uncovered.  Your performance in trading becomes a measure of your competence in trading rather than a measure of your worth as a human being.  Competence in trading can be improved.  Character assassination as a measure of your performance is released.

Discovering the Internal Dialog

With your new-found skill of mindfulness, you begin to discern your thoughts as internal conversations between different parts of yourself.  You discover that there is a fearful child-like part of the self that is constantly sucked into destructive ways of thinking that leads to bad trading decisions.  And you discover that there is a highly critical element in this historical internal dialog that judges, criticizes, and predicts negative outcomes.  Most people have lived with this historical internal dialog for so long that it just seems to be who they are.  In mindfulness training you learn that this is deception.  The truth is that there are many different possible organizations of who we can be.  And the historical internal dialog is but one of them.  And as long as you are mindless of the power of the historical Internal dialog, it will keep you stuck in trading purgatory.

Without freeing yourself from the tyranny of this unseen set of self-limiting beliefs, you stay stuck in your current trading pattern.  This is described as the Money Script, which controls the emotional nature of your relationship to money and trading – and you will learn more about this in the course as well.  Disrupting it opens up the possibility of building the elements of your peak performance state of mind.

Class 103:  Awakening Your Heroic Nature For Success in Trading

In the same way that you experience fear and self doubt (because they live within you as possible organizations of the self), there also exists discipline, patience, courage, and impartiality.  In this course you learn to bring into your awareness these elements of the self and develop them as part of the skills training in this course.  The internal dialog becomes more complex.  It becomes a committee meeting where you reorganize the committee, through your new-found awareness, into a much more highly effective mindset for trading.  You will learn how to locate these parts of your personality and act from them rather than the fear-based internal dialog that brings with it fear and self doubt.

You will learn that discipline, patience, courage, and impartiality are inherent parts of the human condition and that you can bring them into your awareness so they become part of your decision making process.

Memory Enrichment

Memory Enrichment is based on the brain’s way of embedding the meaning of an event.  You will learn how to take an actual memory (where you were challenged by the risk of uncertainty and you managed to push through) and re-work the memory so you are able to call forth the qualities of discipline, courage, patience, and impartiality (the exact qualities of mindset needed to trade well) while in the act of trading.  This is a powerful process.  It is based on Emotional Intelligence and the building of a memory to produce a particular state of mind.  (You will not find this process anywhere else.)

Class 104:  The Nature of Your Internal Struggle

This is where traders who know how to trade but not manage emotions, fail.   Most of us have skillfully avoided the internal struggle that goes on within every human being.  In trading, this cannot be done.  You have to face your psychological demons or you will continue to fall victim to self-doubt, fear, and impulse.  But this time, you will be entering this struggle from a position of strength and mindfulness, rather than weakness and mindlessness.  You will find the strength to confront your fears.  And you will discover that your psychological demons only had power because you gave them permission to judge you — and therefore, keep you in fear and self-doubt.  This has enormous influence in your trading.  Think about the struggles you have in particular moments of trading.  Avoiding the struggle doesn’t work — you know that.  Coming to that struggle with the skills and tools taught in this course makes all the difference in the world.

Intentionally Creating Your State of Mind From Which to Trade 

The last element of the course is about making this new process intentional.  With your skill sets and new tools in place, you build the state of mind from which you will enter your trading day.  Instead of mindlessly drifting into your trading day, you mindfully bring forth the elements of the self that know how to trade from discipline, patience, courage, and impartiality.  You become the creator of the state of mind that manages the uncertainty inherent in trading.  The difference is that instead of a fearful state of mind interacting with uncertainty (setting the stage for negative outcome) you bring a calm authority to the uncertainty inherent in trading.  It is this state of mind that produces peak performance and brings the psychological edge of risk management to your trading.  It is the state of mind that you bring to uncertainty that most influences the outcome of probability.  This is the Trader’s State of Mind.  That’s what you will learn how to produce in this course.

Class 105:  Putting What You’ve Learned into Practice

In this class you will learn how to take what you have learned about building a generalized mindset for peak performance trading and applying it specifically to problem areas in your trading.   This is learning how to prepare proactively for those moments in trading that are most troublesome for you.  A video with Rande also explains the process of the psychological trading plan and its place in your trading.

Why is this so important?  You have to develop the skills before you can apply them effectively to the process of your trading.  Once you have already triggered, it is too late to effectively work with reactive emotional states.  By being “game ready” for a particular moment, you are prepared to maintain the emotional sobriety and mindset needed for disciplined trading.  Reactive moments, or stressors, can be anticipated and dealt with before they become problematic.

Out of this learning, you will have the tools to integrate your psychological plan with your trading plan, so they are one.  This is the ideal.