Chapter_5_Flashcards
(12 cards)
What is the ‘new state of mind’ described in this chapter?
A calm, detached mental state where trades are made without fear, pressure, or emotional chasing — only when a setup aligns with the plan.
Why is the old way of trading unsustainable?
Because it relies on reacting to emotions — fear, tension, urgency — instead of a consistent system.
What is the key difference between a phase and a permanent fix?
A phase is discipline powered by willpower and fades; a permanent fix is a shift in identity and beliefs, removing the urge altogether.
How do beliefs influence trading behavior?
When you no longer believe off-plan trades are tempting or necessary, the emotional urge to take them disappears.
What is the tug-of-war every trader faces?
A battle between ego and edge — ego wants emotion, speed, and control; edge wants consistency, patience, and obedience to the system.
How can you let your edge win over ego?
By trusting the system, ignoring the emotional noise, and executing without needing to prove or feel anything.
Why do most traders not see the market clearly?
Because they project hopes, fears, and emotional needs onto the chart instead of reading what is objectively there.
How do professionals see opportunity differently?
They wait calmly for high-quality setups instead of chasing every flicker of movement; they are emotionally detached.
What is the truth about opportunity in trading?
Real opportunity is quiet, rare, and revealed through discipline — not emotion or urgency.
What does it mean to be ‘a slave to your present trading habits’?
It means you’re operating on emotional autopilot — reacting out of habit instead of consciously following a system.
What is Instruction 5 from this chapter?
Free yourself from slavery to your present trading habits.
How do you start freeing yourself from old trading habits?
By letting go of the belief that you need emotional trading to feel alive or successful — and trusting in calm execution instead.
