2 Bulls Trader Mindset Podcast Series
Measuring What Matters with Mind Metrics
Join 2 Bulls in a China Shop as they measure their progress for all to see using Rich Friesen's Mind Metrics app, on their journey to consistently profitable trading!
There will be HOMEWORK :)
What is Mind Metrics?
Mind Metrics is an app that measures and tracks your Trader Mindset.
Using Mind Metrics gives you a clear and concise visual picture of the step-by-step process to manage your trading. You can instantly see how much progress you've made, and which areas need improvement!
Tracking your data will also help you to know how you are likely to perform before your trading day even begins. You can use this information to determine when to trade, when to sit out, trade lighter or adjust your internal trader mindset before trading.
How do I see your results?
We will be posting a link to each episode along with the corresponding Mind Metrics results in the toggle below. You will be able to see our progress in real time.
What is each episode about?
Toggle the dropdowns below to read more details on each topic.
Episode 1 distills our trading behaviors down to the issues that really matter. By reframing these issues, we can create metrics on our trading behaviors and see how they impact our profits. As retail traders, our greatest edge lies in our ability to filter an almost infinite amount of information and variables down to the information that gives us feedback to adjust the trading behaviors that really matter. This episode shows how you can measure your trading behaviors in a meaningful way.
Using Mind Metrics, you can start to reduce these variables from your trading performance by tracking and eliminating hidden elements that have a negative impact on your trading.
Watch Episode 1 - Measuring What Matters:
Homework Assignment for Episode 1:
- Take inventory and track our trading preparedness by using S.E.T. (Sensations, Emotions and Thoughts) scores
- Make sure you clearly understand the difference between lousy and lucrative trades, and why the latter are very important
- Start filling in your Mind Metrics spreadsheet.
Traders are asking for their strategies to perform feats that they cannot do. As a result, most traders report a lack of confidence in their strategies. And there is a good reason! Watch this episode address the elephant in the room with three words that shock most traders.
Consider:
- What if we looked at trading strategies from a new framework?
- What if we stopped asking them to do what they can’t do?
- What if traders concentrated on the real issue of trading?
This episode will turn your relationship to trading strategies on its head and replace it with a new challenging problem, but the RIGHT challenging problem.
"In the second installment of our limited series with Rich Friesen of Mind Muscles Academy, we’re looking at how to gain confidence in our trading strategies. Join us as Rich explains the confidence circle and blows our minds at the idea that we have been searching for confidence in the wrong place… Rich expounds on the concept of market moods and challenges the listeners to spend the next month defining/identifying them and figuring out which strategies work best for those different moods.
We welcome everyone to check out Kyle's Mind Metrics results updates and follow along with the homework assignment below, and look forward to the opportunity to learn from one of the best! If you have a question to submit for next month’s episode, email it to 2bulls@financialineptitude.com or post it in our Discord."
Homework Assignment for Episode 2:
- Define the different market moods
- Study charts to find examples of each type of market mood, and determine how often each occurs
- What mood is the Market Hell for each strategy? What mood is the Market Heaven?
- What are the attributes of your Market Heaven?
Do you repeat the same trading mistake time and time again? Do you swear you will never have that reaction again...only to repeat it in the heat of the moment? And then listen to that critical voice in your head scolding you for your behavior?
What if you understood how the brain creates repeated trading errors and how you can create an exercise to make more intentional trading decisions? This episode will demonstrate the neuroscience of brain activity and how repeated trading behaviors are created. You will experience an exercise in neural programming that will give you a new way to manage your trading reactions.
Episode 3 has been posted! You can listen at the link below.
Homework Assignments for Episode 3:
- Make all persistent trading mistakes their own strategy and track their results
- Generalize the positive intent of those behaviors that do not serve our trading
- The goal is to generate awareness of those behaviors, not judgement.
Kyle's Tracking Spreadsheets:
- NEW: Here a link to Kyle's trading log that he has been using in conjunction with the Mind Metrics app.
- Here is the link to Kyle's Mind Metrics app.
This episode creates an awareness of our brain’s unconscious biases, filters and trading traps. It starts with a real-time assessment that creates an awareness of the major mind traps that are common to many independent traders. With this assessment, you can visually see the graphic that demonstrates the gap between your rational understanding of trading success and your own trading reactions, biases, filter, and trading traps. We then proceed to the Mind Muscles model for behavioral, change (the “Golden Keys”) and learn how every trader can lay the foundation to trade like the master trader they desire to be. You will leave with an expanded awareness of the mind traps that produce repeated trading errors and are dragging down your profits.
Episode 4 has been posted! You can listen at the link below: