Yes, there are two very different comments about common sense in the markets. We need to draw a very hard line between preparing yourself for exactly what you want to do in the world of trading / investing, and then what you do to make money. If you are listening to this podcast or reading this, you’re probably an exceptional person. And you got to be exceptional by using a certain amount of common sense. Not falling for hyperbole, and always thinking for yourself to a large degree. That kind of common sense is critical when you prepare yourself to trade, to avoid all of the scams and general wrong thinking that is out there about making money in the market. However, once you are involved in making money in the market, common sense has no place whatsoever. The market is run by a different set of rules that revolve around the supply of money coming in and out of any market, sector, or any individual stock. You can scream all you want about all the common-sense reasons why a stock should be going up, but if it’s dropping, somebody is selling. Someone who either knows more than you, or simply doesn’t care because it’s time to sell.Here's a link to learn more:https://disciplinedtradingstrategies.com/publicdownloads/The%20R%20Unit.pdfSet up a free coaching session with Paul:https://calendly.com/dts-paul/coaching-session-w-paulThe DTS Free Stuff Page:https://disciplinedtradingstrategies.com/free-stuff/To learn more, visit:http://disciplinedtradingstrategies.comListen to more episodes on Mission Matters:https://missionmatters.com/author/paul-lange/

A self-fulfilling prophecy is a prediction that comes true because someone believes or expects it to come true. This concept is very alive and well in trading. I actually refer to it quite often and it’s not always in a negative way. It has its place in certain situations, although it has a very “soft” use. It sort of gets into the concept of subjective versus objective. A few Podcasts back I talked about the difference between subjective and objective when it comes to trading in general, but this is specifically regarding what we look at for price action. This is more of a technical discussion in case you’re not all that in tune yet with technical analysis.Here are the charts to follow:Chart 1:https://drive.google.com/file/d/1uCNXj_baAaRYM_NY_zkbBsK_rhR0iMMS/view?usp=drive_linkChart 2:https://drive.google.com/file/d/1dxleeVAhUFEzRez9h_CiQzqQaBUOfQJS/view?usp=drive_linkHere's a link to learn more:https://disciplinedtradingstrategies.com/publicdownloads/The%20R%20Unit.pdfSet up a free coaching session with Paul:https://calendly.com/dts-paul/coaching-session-w-paulThe DTS Free Stuff Page:https://disciplinedtradingstrategies.com/free-stuff/To learn more, visit:http://disciplinedtradingstrategies.comListen to more episodes on Mission Matters:https://missionmatters.com/author/paul-lange/

This podcast is about the difference between being “long” stock positions and being “short” stock positions. It’s going to come to you at several different levels. I find a lot of new traders don’t even understand or are not even familiar with the concept of being “short”. I want to explain what it is and discuss two unbelievable myths about “short selling”. I also want to explain why it needs to be a part of your arsenal no matter what time frame you trade. I also want to discuss the advantages of shorting over being long when everything else is equal.Here are the charts to follow:Chart 1:https://drive.google.com/file/d/1BnDac7f33YJ_-eDtO4cB9IldFYeQImmd/view?usp=sharingChart 2:https://drive.google.com/file/d/1Isl2ifmoIuZhnbZrDeAGx8o-GcOGMtzj/view?usp=sharingHere's a link to learn more:https://disciplinedtradingstrategies.com/publicdownloads/The%20R%20Unit.pdfSet up a free coaching session with Paul:https://calendly.com/dts-paul/coaching-session-w-paulThe DTS Free Stuff Page:https://disciplinedtradingstrategies.com/free-stuff/To learn more, visit:http://disciplinedtradingstrategies.comListen to more episodes on Mission Matters:https://missionmatters.com/author/paul-lange/

Okay, this may be a little bit of a boring topic for a podcast. At least to the average person. However, as I have mentioned in some prior podcasts, oftentimes these boring topics are the most important when it comes down to the final strokes of making a good living in the market. I also have to continue to remind myself that while some of these topics seem obvious and boring, to many new traders they are completely new and a lack of understanding of some of these concepts will make it impossible to make money consistently. This will start off defining exactly what we mean by “the risk unit”, and then discuss how it permeates through all of your trading.Here's a link to learn more:https://disciplinedtradingstrategies.com/publicdownloads/The%20R%20Unit.pdfSet up a free coaching session with Paul:https://calendly.com/dts-paul/coaching-session-w-paulThe DTS Free Stuff Page:https://disciplinedtradingstrategies.com/free-stuff/To learn more, visit:http://disciplinedtradingstrategies.comListen to more episodes on Mission Matters:https://missionmatters.com/author/paul-lange/

Lack of patience is probably one of the greatest trader-killers out there. If that grabs your attention, it should. In my experience, when a trader starts to develop technical skill and starts to potentially become profitable, it is the lack of patience that ends their career. Lack of patience is related closely to FOMO and they are both concepts that you need to handle if you truly want to be a disciplined trader. Without discipline you will lose. Understand that first you need the technical skill, but oftentimes traders with the technical skill don’t have the discipline to do what they know (or should know) they are supposed to do.Set up a free coaching session with Paul:https://calendly.com/dts-paul/coaching-session-w-paulThe DTS Free Stuff Page:https://disciplinedtradingstrategies.com/free-stuff/To learn more, visit:http://disciplinedtradingstrategies.comListen to more episodes on Mission Matters:https://missionmatters.com/author/paul-lange/

Don’t let the title fool you, this has great information. If you are going to learn how to trade, there are many pitfalls. There are enough natural pitfalls out there, like the fact that trading is counter-intuitive. But there are ‘man-made’ pitfalls as well. Most everything you view, read, or hear will be incorrect. Some through ignorance, some through design.Set up a free coaching session with Paul:https://calendly.com/dts-paul/coaching-session-w-paulThe DTS Free Stuff Page:https://disciplinedtradingstrategies.com/free-stuff/To learn more, visit:http://disciplinedtradingstrategies.comListen to more episodes on Mission Matters:https://missionmatters.com/author/paul-lange/

• This is important enough for its own podcast.• Formal definition – from two different sources. • Simple definition.• What is NOT a technical Indicator.• Cool kids.• What you can use them for.• What you cannot use them for• The dangers are huge. They END careers. Here are the charts to follow along:Chart 1:https://drive.google.com/file/d/1t9bvK0UtBc3oQFklHiA32o66jlCBs5xv/view?usp=drive_linkChart 2:https://drive.google.com/file/d/1_hqnxUqN9hcUcT-ZYYBGYJld4Zjp51k9/view?usp=drive_linkChart 3:https://drive.google.com/file/d/1WtuLh_cIENP72Rr6a9-LM_uwAvsb_vE2/view?usp=drive_linkSet up a free coaching session with Paul:https://calendly.com/dts-paul/coaching-session-w-paulThe DTS Free Stuff Page:https://disciplinedtradingstrategies.com/free-stuff/To learn more, visit:http://disciplinedtradingstrategies.comListen to more episodes on Mission Matters:https://missionmatters.com/author/paul-lange/

This podcast is short and sweet and to the point. The more complete title should be, “the absolute way you must view the market to make money, which would shock the average person, even the average person in the market”. It will in a sense, summarize some thoughts of prior podcasts, and lead to a conclusion that you must hear, if you really want to understand how to trade/invest properly. Set up a free coaching session with Paul:https://calendly.com/dts-paul/coaching-session-w-paulThe DTS Free Stuff Page:https://disciplinedtradingstrategies.com/free-stuff/To learn more, visit:http://disciplinedtradingstrategies.comListen to more episodes on Mission Matters:https://missionmatters.com/author/paul-lange/

I don’t want to give anything away but some of you who have been listening for a while may be thinking that there is a little sarcasm in the title of this podcast. This is going to cover several important topics including a couple of favorite lessons from a book, those cookie-cutter patterns, the language of charts, and pictures of learning. A good rule to follow is that nothing is as it seems when it comes to trading.Here's a chart to follow along:https://drive.google.com/file/d/1Ndy09JBIoLSyp2Ms12cT11OKnf9iYZe0/view?usp=drive_linkSet up a free coaching session with Paul:https://calendly.com/dts-paul/coaching-session-w-paulThe DTS Free Stuff Page:https://disciplinedtradingstrategies.com/free-stuff/To learn more, visit:http://disciplinedtradingstrategies.comListen to more episodes on Mission Matters:https://missionmatters.com/author/paul-lange/

In almost anything you read or listen to about trading, you will likely read or hear that trade management is important. This is not accurate. Trade management is more than important. It is critical and will eventually determine your fate as a trader/investor. Traders that can read charts but cannot put the money in the bank are a dime a dozen. It takes some skill to read a chart, but many traders then get stuck in “breakevensville” for a long, long time. To me, management is way more involved than it is to most. It is not only how you get a trade from point A to point B, but is it also managing the entry and managing the stop. Two critical areas most traders know little about. Here are the charts to follow along:Chart 1:https://drive.google.com/file/d/1N6ge60PLMtHNNct4dPR9HpApX9MbVAsi/view?usp=drive_linkChart 2:https://drive.google.com/file/d/1ebw7wv8WcVv4sewKRioB1tJUU8tmQVEU/view?usp=drive_linkSet up a free coaching session with Paul:https://calendly.com/dts-paul/coaching-session-w-paulThe DTS Free Stuff Page:https://disciplinedtradingstrategies.com/free-stuff/To learn more, visit:http://disciplinedtradingstrategies.comListen to more episodes on Mission Matters:https://missionmatters.com/author/paul-lange/