Chapter_11_Flashcards
(15 cards)
What does impulsiveness actually indicate in a trader?
Impulsiveness isn’t a flaw—it’s a signal that you’re quick to act and just need a system to guide that instinct.
Why don’t impulsive traders need to become calm?
Because success doesn’t belong to the calmest—it belongs to those who know exactly when to act, and when not to.
What turns impulsiveness into danger?
When there is no clarity or system, impulsiveness leads to emotional, risky trades.
What is the root cause of revenge trading and impulsive actions?
False beliefs like needing to make money fast, missing out being dangerous, or losses meaning personal failure.
Why do traders think they’re broken after emotional trades?
They confuse emotional behavior with identity, not realizing they’ve been conditioned by a flawed system.
What is the ‘faulty operating system’ referred to in the chapter?
A belief system that sees winning as safety, action as progress, and losses as personal failure.
What’s the myth about personality flaws in trading?
That traits like impatience or self-destruction are permanent, when they are actually conditioned responses.
How does the market manipulate traders according to the chapter?
By shaping their identity and feeding off personal stories, not just challenging their strategy.
What’s the difference between traits and triggers?
Traits are who you are; triggers are environmental stimuli causing reactive behavior—changing the environment changes the behavior.
Why doesn’t personality determine success in trading?
Because process and belief systems matter more than personality traits—success follows system-based action.
How should traders address self-sabotaging identities?
By updating beliefs, not fighting identity—start thinking differently and behavior will follow.
What is the core idea behind becoming a high-level trader?
You become a high-level trader when you stop betraying your edge and fully commit to disciplined action.
What happens when traders half-commit to their system?
They leave the door open for emotional decisions like FOMO, revenge trades, and rule-breaking.
What does full commitment in trading bring?
Freedom, faster decisions, quiet fear, and a natural process—because all escape routes are burned.
What is the final lie traders must let go of?
That they’re just ‘someone who trades’ trying to improve. The truth is, they are already the trader they aspire to be.
