21 Sep

Thriving With Your Back Against the Wall

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Have you ever wondered why some people just turn it up under pressure… while others crumble and panic?

I know I have… especially when I was struggling as an elementary school teacher with $250K in student loan debt — picking up aluminum cans with my wife, and taking on roofing jobs in the summers…

Of course, we were under pressure… but it’s the way you respond to this stress that can make or break you.

The other day, I found some time to catch up on WealthWise — and I stumbled upon an interesting podcast with Ben Sturgill and my former student Nathan Bear.

 

 

It’s an inspiring story where Nathan came from… over 8 years of trying, failing, and trying again until he developed a system that allowed him to thrive under pressure… and I think you could learn a lot about the psychology of a millionaire trader from his chat with Ben.

 

 

The best thing you could do when you’re trading under pressure is to take a step back… assess the situation… and develop a simple system that you understand how to use.

For example, at one point, I was trying to trade options…

… and like many who’ve tried, I took my licks and swore off options trading.

However, I got to thinking about the psychology of a trader… and what it takes to continue evolving.

When I was first trading options… I had a cold streak, and as traders, we question our performance… and sometimes get worried about using the same strategy again.

I knew I couldn’t approach options trading with that mentality.

Rather than sitting back and kicking myself for making mistakes trading options… I used that as a learning opportunity and figured out exactly what I was doing wrong.

So what did I do?

I developed a simple system that actually improves your chances of success right off the bat…

… and it’s been working out really well — and I’ve proven that you can make money in choppy markets, as well as trending ones.

You’re probably wondering how I was able to find winning trades in a wacky market…

 

 

If you’re struggling right now… don’t beat yourself up… just use it as a learning opportunity and try to find new ways to make money.

The simplest thing you can do is start using a strategy that improves your chances of success trading options, and you’ll be in a position to trade with a cool head and calm mind.

 

 

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