37 min

How To Stop Panicking While Trading with Carl Nord The Option Genius Podcast: Options Trading For Income and Growth

    • Investing

Allen: Welcome passive traders to another edition of the Option Genius Podcast. Today I have a special guest with me, Mr. Carl Nord, We’re going to be talking about something pretty interesting that goes back to a few episodes ago, something I talked about, which was back on episode 140 of the podcast, I introduced something called the 66 Trade challenge, which is something that people can do if they are having trouble with discipline, it's one of the ways that we talked about of how to overcome the deer in the headlights syndrome, or the not knowing what to do syndrome or just not doing what you're supposed to do while you're trading.
Allen: And we've all been there. And it's a it's a mental thing. You know, I talk about it a lot that trading is 90%, mental 10% skills. Most of us know what to do, we just don't do it for whatever reason. And we all have our individual hang-ups. So Carl here, he's in a couple of our programs. He listened to that episode, he took it to heart. And he reached out and said, You know, I'm doing the challenge. And I've been following him. And he's been giving me updates all along the way. And I said, You know what, this is awesome. We need to get Carl on the show. We need him to share his expertise, his wisdom about going through the system and going through the challenge, and basically, his results. So, Carl, welcome so much.
Carl: Thanks, Allen. So glad to be here with you.
Allen: Yeah, it's so it's a wonderful for you to share your time and experience experience with us. I'm really happy to have you here. And it's part of what we like to have in the Option Genius community where we help each other. So appreciate that. So Carl, let's let's get started. What was it about the challenge that made you decide to do it?
Carl: Well, actually, it was a combination of two of the podcasts. I listened to the 66. Great Challenge first. And then I listened to the one right before it number 139. When you have tried everything, and you're still not profitably trading that one, which is a long, long podcast, and over and over in there, you were saying, You got to have a plan, you got to follow the rules step by step and, and this other thing, and I was thinking, you know, if I'm gonna get this down, the 66 trade challenge will make me do the things you were telling that the other fellow in the podcast just previous to it, it was a combination of the two. That made me do it. But mostly it was because also, like you said, I had no discipline. I panicked all the time. Yeah.
Allen: Hey, cool. So I mean, yeah, I remember. I remember that one that was 139. I think that one was like a it was like a coaching call. Basically, someone had written in and said, You know, I've been trying this for years and years, and I haven't had any success and what helped me, what am I doing wrong? And so I got on them. And I asked him, I was like, Hey, would you be willing to have it recorded and shared? And he was like, yes. So we got on the call. And yeah, it was about an hour and a half long.
 
Carl: He had either an English or Australian accent? 
 
Allen: Yes, yeah. And he's actually in our, the free Facebook group that we have. He's in there. And he responded, it's been about a year I think, since that episode, or I don't know how long it's been. It's been a while. And he responded on Facebook. Just recently, I think it was last week that he's been he's made a lot of strides. He's listened to that interview several times. And it really helped him. And he's made a lot of changes, and he's doing much better. So I'm glad. I'm glad that was helpful. So basically, you said that you were having a problem with discipline. How bad was that problem?
 
Carl: Well, it was bad enough that I wasn't making money. You know, it just yeah, if the market went against me, I was just panicking all the time and either selling too soon, or, you know, exiting the trades too soon or too late or something, you know, just kind of got overw

Allen: Welcome passive traders to another edition of the Option Genius Podcast. Today I have a special guest with me, Mr. Carl Nord, We’re going to be talking about something pretty interesting that goes back to a few episodes ago, something I talked about, which was back on episode 140 of the podcast, I introduced something called the 66 Trade challenge, which is something that people can do if they are having trouble with discipline, it's one of the ways that we talked about of how to overcome the deer in the headlights syndrome, or the not knowing what to do syndrome or just not doing what you're supposed to do while you're trading.
Allen: And we've all been there. And it's a it's a mental thing. You know, I talk about it a lot that trading is 90%, mental 10% skills. Most of us know what to do, we just don't do it for whatever reason. And we all have our individual hang-ups. So Carl here, he's in a couple of our programs. He listened to that episode, he took it to heart. And he reached out and said, You know, I'm doing the challenge. And I've been following him. And he's been giving me updates all along the way. And I said, You know what, this is awesome. We need to get Carl on the show. We need him to share his expertise, his wisdom about going through the system and going through the challenge, and basically, his results. So, Carl, welcome so much.
Carl: Thanks, Allen. So glad to be here with you.
Allen: Yeah, it's so it's a wonderful for you to share your time and experience experience with us. I'm really happy to have you here. And it's part of what we like to have in the Option Genius community where we help each other. So appreciate that. So Carl, let's let's get started. What was it about the challenge that made you decide to do it?
Carl: Well, actually, it was a combination of two of the podcasts. I listened to the 66. Great Challenge first. And then I listened to the one right before it number 139. When you have tried everything, and you're still not profitably trading that one, which is a long, long podcast, and over and over in there, you were saying, You got to have a plan, you got to follow the rules step by step and, and this other thing, and I was thinking, you know, if I'm gonna get this down, the 66 trade challenge will make me do the things you were telling that the other fellow in the podcast just previous to it, it was a combination of the two. That made me do it. But mostly it was because also, like you said, I had no discipline. I panicked all the time. Yeah.
Allen: Hey, cool. So I mean, yeah, I remember. I remember that one that was 139. I think that one was like a it was like a coaching call. Basically, someone had written in and said, You know, I've been trying this for years and years, and I haven't had any success and what helped me, what am I doing wrong? And so I got on them. And I asked him, I was like, Hey, would you be willing to have it recorded and shared? And he was like, yes. So we got on the call. And yeah, it was about an hour and a half long.
 
Carl: He had either an English or Australian accent? 
 
Allen: Yes, yeah. And he's actually in our, the free Facebook group that we have. He's in there. And he responded, it's been about a year I think, since that episode, or I don't know how long it's been. It's been a while. And he responded on Facebook. Just recently, I think it was last week that he's been he's made a lot of strides. He's listened to that interview several times. And it really helped him. And he's made a lot of changes, and he's doing much better. So I'm glad. I'm glad that was helpful. So basically, you said that you were having a problem with discipline. How bad was that problem?
 
Carl: Well, it was bad enough that I wasn't making money. You know, it just yeah, if the market went against me, I was just panicking all the time and either selling too soon, or, you know, exiting the trades too soon or too late or something, you know, just kind of got overw

37 min