15 Price Action Patterns Insiders are Using If a hedge fund managers were using 15 specific price action patterns would you want to know?

Norman Hallett attended the University of Cincinnati to become an engineer, but ended up graduating with a degree in Math. He took a job selling gold and silver options over the phone. One day he walked in and everything was gone. The entire place was shut down. That’s when he realized he was working for a boiler room.

So he took a job with ITG and within 6 months he went from broker to manager to Regional Vice President. He had 60–80 brokers under him and trained other managers. He moved on to Penny Weber for a year and a half. He then left and started Hallett Group.

He married his wife and it changed everything. She was into ‘Subconscious training’. She helped him settle down and focus on managing his emotions. His goal is to help traders do what they need, not necessarily what they want. They want the next hottest thing—but they need to be a disciplined trader.

How can you train your mind to manage your emotions? How do you manage your goals? Why are simple trading plans best? Norman joins this episode of How To Trade It to share his strategies. He brings a plethora of experience and insight to the table. Don’t miss this episode!

In this episode of How To Trade It, @normanhallett shares why simple trading plans are THE best. Listen to learn more! #stocks #stock #trading #StockMarket #Investing #DayTrading #StockPicks Click To Tweet

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You’ll want to hear this episode if you are interested in…

[1:07] How Norman got started in trading

[4:21] Norman’s encouraging words
[5:35] Why you want simple trading plans
[10:00] Train your mind to manage your emotions

[16:00] How to manage your trading expectations
[18:32] How to connect with Norman Hallett

Why do you want simple trading plans?

Norman emphasizes that the simplicity of a trading plan is important. He’s learned over the years that traders who win consistently have simple trading plans. Buying in is easy, getting out is an art. These were the traders making money. When you have a simple trading plan for beginners, you can trade more. The more complicated the plan is, the tougher it is to make money, and the more frustrated you get. But don’t confuse simple with easy. Simple means the rules are clear cut and it’s simple to understand. The execution is difficult.

What Blackjack taught Norman about trading

Another job Norman held when he first graduated college was as a math teacher—which lasted 6 months. He was teaching replacement theory to “tough” students. To help them understand the concept, he would gather them around his desk and deal a few hands of Blackjack. He’d ask them to take a hit or wait—and explain why they made their decision. They’d play for 30 minutes and they’d understand the theory. Blackjack taught him that if you put the odds in your favor, you’re much better off. A simple trading plan puts the odds in your favor. It helps you make consistent and responsible trades along the way. Norman lost that job because the administration didn’t approve of his teaching methods—even though they worked.

What did blackjack teach @normanhallett about trading? He shares his story in this episode of How To Trade It! #stocks #stock #trading #StockMarket #Investing #DayTrading #StockPicks Click To Tweet

How to train your mind to manage your emotions

Norman emphasizes that you have to train your mind to overcome inappropriate trading behaviors (revenge trading, hesitation, etc.). He offers his program starting at $33 a month. The main asset is to train your subconscious mind with a 7-minute meditation session to help you relax and mentally prepare. It helps you meditate to phrases such as “I’m a wise and disciplined trader and I do the things that a wise and disciplined trader does.”

Only once you complete the meditation do you start trading. Every time you do this, you’re building new neural pathways with these beneficial behaviors. Normal believes once you do 8–10 sessions, it becomes how you respond to a trading stimulus. You won’t hesitate because you know it will work. You turn problem behaviors into beneficial behaviors. Once traders have mental and emotional control they can turn things around.

How to manage your trading expectations

Norman points out that the horizon is a construct in our heads. It’s where we believe we are seeing the sky meet the earth. You can walk towards it as long as you want, but you’re never going to reach it. It’s the same with grandiose goals. You have to turn around and look where you came from. Stay in reality and look at the progress that you’re making. If you set a goal to make $10,000 and only make $100 in a month, it can be frustrating. But if you stand at the $100+ and look back at how far you’ve come, it gives you a different perspective. That’s not to say you shouldn’t have a large vision for your future. But you still want to set smaller, more realistic goals.

What is a new trading system Norman has coined that he loves? What special offer is available just for listeners? Listen to find out!

How do you manage your trading expectations? Learn more from @normanhallett in this episode of How To Trade It! #stocks #stock #trading #StockMarket #Investing #DayTrading #StockPicks Click To Tweet