Ep 110: The Wall Street Coach in Action — Stephen Johnson’s Second Coaching Session
A couple of weeks ago, host Stephen Johnson had an on-air session with Kim Ann Curtin, AKA The Wall Street Coach.
The episode was very emotional, and left off on a cliffhanger–could it be the end of Stephen’s storied trading career?
Happily, the answer is no. The session did push him to the limit–but once he was standing on the edge of the cliff, Stephen decided it wasn’t time to jump. He would in fact live to trade another day.
In today’s episode, he continues his conversation with the expert trading coach and continues to have great insights that will resonate with traders of all levels.
The desire to quit is natural.
Should it be a surprise that Stephen was on the verge of quitting but decided to turn around?
Not at all. Every trader has experienced the desire to quit–even if he or she doesn’t admit it. Trading is a mentally challenging profession, and it can wear on your emotions. It’s only natural to experience doubt at times.
However, it’s necessary to keep in check with yourself about these feelings. If you’re experiencing doubt as a trader, it’s necessary to ask yourself: are my needs being met? And if not, are there changes I can make so that they will be met?
What changed for Stephen?
Stephen doesn’t necessarily understand what happened in his last session with Kim Ann Curtin–but he does recognize that it yielded great results. Since Episode 104, he’s been able to let go of some of his impulsiveness, and is better able to cut losses.
The difference? Mostly his mindset. Before, he felt like he was stuck. Kim helped him realize he did have a choice to keep trading or not. Being able to stand in that choice for a minute gave him the space to feel his feelings and ultimately return to the game.
Vulnerability, numbing, and what holds us back
In the episode, Stephen and Kim dig into some of the things that hold us back as humans–and as traders.
For example, We’re not taught that vulnerability is ok. We’re not rewarded for it. So to admit that you’re having trouble with trading, as Stephen did, is very difficult.
Without dealing with these feelings, plenty of people reach for something to numb themselves–food, drink, shopping, exercise, etc. But a much better approach would be to ask yourself this: if you’re numbing…why are you numbing?
A lack of nourishment
When we’re not getting what we need to be fulfilled, it’s nearly impossible to be effective at any profession–and that includes trading.
Stephen and Kim discuss why it’s so important to remain mindful of what it is that you need to feel nourished, and how it can help your career.
This requires mindfulness requires giving yourself the space to simply exist and observe yourself. The difficulty? It’s counterintuitive to society’s teachings. If we’re just being and not doing, we’re taught that we’re doing something wrong.
Mindfulness and trading
What does mindfulness have to do with trading? We haven’t gone all new age here–Stephen and Kim talk about the many ways in which mindfulness can serve you as a trader.
For example, have you ever heard a voice telling you “you have to get into this trade right now right now right now” that has made you abandon your higher thinking and what you know are best practices, like making a trading plan?
Guess what? That voice isn’t telling you the truth. It’s only by being mindful that you’ll be able to get away from those gremlins!
Trading Success: the surprise key ingredients
In the episode, you’ll hear some of the true secrets to trading success, including:
Listen in to hear the discussion about why these things matter and how they can improve your trading by leaps and bounds!
Got something to share?
Feel like sharing your thoughts on the episode? Have a question about trading? Ask us!
Thanks for tuning in to the SteadyTrade podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders.
How much do you love this episode? Leave us an iTunes review!