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Also - as one of Lance first points alluded to: We are always even. We start each day at Zero. You cannot think of the losses as money you need to win back. Instead, you are even at zero and your goal is to make 1 solid trade today.

It's nice to hear other guys talk about this stuff at a high level. I had one of my best mornings ever today, then made a profoundly idiotic mistake that compounded the idiotic mistake. This video helped make me realize that I'm not crazy lol. To the winners and future winners out there, I salute you.

What a great value highlighting keeping the right mental perspective. Some key takeaways I had: -Stop digging a hole, log out. -Take 24hrs to deal with the emotions. -Keep perspective. Your worst day is someones best day. -Determine the causes, and develop solutuons. -Have incremental sizing rules up and down. -Find the easiest trades, find consistency on singles, then double down. -Focus on small steps having big results over time.

i am so alone in my trading world (especially on bad days) .. your videos give me much needed solace .. thank you.

Great advice. Thanks. Funny enough, I have 11 out 13 days in red for this month. So one week ago, I hired a psychologist, reduced my size... I wish I had "past successes" to rely on. But after 3 years, loosing 75% of my account, I'm really doubting I'll ever make it. Hopefully my pyschologist will make some miracles as the hole is really deep...

Definitely one of the best 20min clip one can find on Risk Management and Trader development. Thanks and good job Lance!

We are very fortunate to have Lance in our midst!

This video is fantastic! Thank you for your insight. I am battling this since January this year and feel like I made zero progress sometimes. I overworked on my set ups and strategies and ignored the psychology behind it. As a result, I cannot take a draw-down in a decent manner. Then I revenge trade and blow my account. It happened again!! I sometimes feel like there is no light at the end of the tunnel. But your video gave me hope. I really want to be a trader and need to learn to control and get out of the hole quickly.

extremely helpful, this is one of those 20min vids that you process for 2 hours

You words and rules emanate like a blaring siren. Thank you for your insight. Every day is a process and involves true focus.

Thanks for sharing Lance.Great video as always 🔥

Really found this helpful and thanks so much for taking the time to put this together!

Took my biggest single day loss today. This video feels godsend! Thanks Lance for those valuable insights!

Thank you Lance, appreciate you sharing your knowledge from past experiences 🙏

I needed this video…very helpful! Thank You ! Lance!

Thank you Lance. I needed this!

The best day is a day you were wrong, but admitted you were going against a trend because you observed the evidence before you, found a good exit and entered the trade the right way. ... But I prefer waking up with an oversize position that has a huge gap and go. The challenge is holding when you are supposed to, and cashing out when the trend changes. One is better for my development as a trader, the other makes a lot more.

Excellent advices !!! Well done. Thank you

Super golden!!!! I've never thought of having a drawdown playbook. Will get to work in creating one before the hole comes

Thank you for the video, just had a huge drawdown and this helps a lot

Good clip Lance and important to talk about. I find just taking time off and backing off is a good strategy for a retail person. At a prop firm or running a fund, you have a bigger margin for error. However, there is a lot of utility for developing the discipline to back off and feel really good about that. Preserve capital until market conditions change.....Thanks.

This video is just 🔥. Thank you Lance.

Fantastic video. I have been reading Trading Psychology 2.0 and created best practices for dark times very similar to this video. Seeing this gives me good concepts to bounce my current processes off. The last like 4 videos have all been home runs btw. Exponential risk sizing video proved to me that I was correct to reject the fixed risk sizing I was taught initially.

This year, my PnL Hole is so deep and wide that I have to sit in a specially-made chair now. The old one kept getting lost.

Thanks for sharing Lance!

Looking muscular Lance! Hard work paying off

thank you for these perspectives good video to prepare for good ol friday in the markets tomorrow at the time of this comment writing

Great talk. I as a homeless appreciate your observation.

Awesome tips...nobody will teach us this much in detail... thank you very much Bella and Lance B.

Wow I will bookmark this for the next DD to watch. Thank you!!!!

Thank you for your wisdom, Lance.

Very very practical and doable :). thank you

amazing video thanks

amazing video for someone struggling thak you guys

Thank you so much Lance ! Just what I needed to hear right now ...I am going thru a slump and its affecting my confidence, but now I have a gameplan to get back on track 🙏👊 you are

Thank you , u truly been there.😅

Good video. Exactly what I was wait for. Start own diary to work on plan.

Lance the beast .big thanks to you and smb for the free content.

Your channel has truly changed my life. i've been studying and researching about crypto for a while now, do to the economy crisis and i got stuck at some point on the learning curve. now i can say I'm truly improving my understanding of this whole new world and making great profit weekly, all thanks to you

Wow, this video is sincerely appreciated!

This is so helpful, thanks you guys!

Thank you for this! Excellent!

you are a legend!

Thanks

Legend thanks

Right on. Going thru it right now. 1st green day in like 3 weeks. lol. Like maybe 3% drawdown.

Thanks!

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Thanks Lance. Did you make most of your money in small caps?

That year of losses was the annual fee Mr. Market charges to enter his classroom!

Great 👍

Also what shirt are you wearing? It looks nice

Made the mistake of drinking last week lol never again only on Friday evening or Saturday lol

Isn’t the hall of fame coach you referenced Dawn Staley?

did you mean olympian abd hall of fame coach Dawn Staley not Don Faley?

I will TEST my dad and call him up later about my trading loss. Put a hedge around my own dad, if similar advice given then pass the dad test, if advice that tells me to stop trading then he fails the dad test.

I am in this hell currently, i really need help, I'm doubting myself more and more 🤢

Lol i can see him playing super man he looks like Clark Kent lol... But good advice

True story that homeless man makes 125k a year from donations due to that sign.

You really need to cut down on the guess whats… annoying af.

Reading a script. So who is this really coming from? Click

Thanks