Snowballing Losses and the Courage to Come Clean, Heal & Rebuild · Alexander Moreno

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EP 258 | Snowballing Losses and the Courage to Come Clean, Heal & Rebuild | Alexander Moreno

Dedicating significant hours to books and market analysis, Alexander Moreno sought regular counsel from a seasoned trading mentor. After refining his abilities through months of paper trading, he ventured into live trading, reaping consistent profits as planned. This success bolstered his confidence to trade full-time as a livelihood. However, the unforeseen market turbulence in 2008 unleashed his psychological struggles, leading to impulsive trading and ultimately, homelessness. This harrowing experience granted Alexander invaluable insights that he now imparts to others.

This might be one of the most important episodes to listen to in a while when it comes to the topic of frank discussion on losses in trading and the practicality of managing risks so that traders can stay in the game long enough to have the opportunity to learn and improve.

* NEED ACCOUNTABILITY IN YOUR TRADING JOURNEY? LEARN ABOUT THE TRADERS ACCOUNTABILITY PROGRAM BROUGHT TO YOU BY THE CWT COMMUNITY: https://community.chatwithtraders.com/

Topics & Timestamps:

Please note: Exact times will vary depending on current ads.

0:00 Background
4:10 Well prepared for trading
5:40 Type of trader and strategy
9:27 Trading as a primary source of income
11:30 Calculate the percentage return needed for living expenses
12:52 How small early losses lead to homelessness
16:35 Adding risk without being reckless
17:50 Impacted by revenge trading?
24:55 Need for income created pressure to take poor trades
28:10 When Alexander hit rock bottom
31:50 Process of starting over
33:45 “Your current mindset is not built for stock trading”
36:35 Best ways to train our emotions
42:25 Reasons for block trading
46:30 Staying alive long enough to learn the process
48:15 What is the flow state and how do we get there
51:30 How to avoid over trading
53:15 Differences between professional and novice traders
55:06 What Alexander struggles with most in trading
59:10 What Alexander focuses on to trade and helping people
63:00 How to get in touch with Alexander

See more show notes here:
https://chatwithtraders.com/258

Links & Resources:
Alexander@TraderHelp101.com [Email]
https://www.traderhelp101.com/
https://www.youtube.com/@TraderHelp101/videos

* NEED ACCOUNTABILITY IN YOUR TRADING JOURNEY? LEARN ABOUT THE TRADERS ACCOUNTABILITY PROGRAM BROUGHT TO YOU BY THE CWT COMMUNITY: https://chatwithtraders.com/community/

DISCLAIMER:
Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice.

#stocktrading #tradingloss #tradingpsychology

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