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I have more rules for a ten-dollar hand of blackjack than I had for a trading account that fed my family. In this video I walk you through exactly how I handle a casino — the thousand bucks in cash, the wallet left in the truck, the three-exit rule — and then I show you why your trading desk is set up to violate every single one of those rules by default. I also give you the parking-lot story that explains why a $100 loss, after you’ve been up $500, doesn’t feel like a $100 loss. It feels like you got robbed. That’s loss aversion, and it’s what’s driving the giveback. Then I hand you the end-of-day exercise that finally closes the loop on last week’s Pre-Trade Checklist: the Giveback Log. Two fields, sixty seconds, and a Friday report card that shows you — for the first time — how much you actually hand back after you’ve built it.
Interactive Giveback Log (free, login required): https://tradingdecoded.com/resources/exercises/giveback-log
Pairs with last week’s Pre-Trade Mental Checklist: https://tradingdecoded.com/resources/exercises/pre-trade-checklist
Chapters:
0:00 The way I go to the casino
0:12 The thousand, the truck, three exits
2:22 More rules for blackjack than my account
3:00 The giveback, one trade at a time
6:01 The parking lot mugging
9:44 The pit boss counts. Nobody counts for you.
10:53 THE EXERCISE — The Giveback Log
15:17 Next week
Our Discord: https://discord.gg/tradingdecoded
Become a Member: https://www.tradingdecoded.com/membership
TradingView: https://www.tradingview.com/gopro/?share_your_love=jimmy76175
Our Website: https://www.tradingdecoded.com
My Book: https://a.co/d/4JHNs06
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