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In this episode, we welcome back Pat Bailouni, an esteemed trading mindset coach renowned for guiding numerous seasoned traders globally.

Join us as we delve into 12 of his 48 pivotal laws for trading success.

Additionally, we’ll explore how Paul Tudor Jones, celebrated as one of the world’s top traders, exemplified many of these principles throughout his illustrious career.

Podcast Interview


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Interview Link

Instagram – @masteryourtradingmindset
YouTube – @PatBailouni


Key Lessons

[07:29] Even the best traders out there go through winning and losing periods. It’s part of the game.

[10:30] The only mentor or teacher that you should have is the market.

[10:39] The market’s going to tell you what’s right or wrong for your system, the way you live and your lifestyle.

[11:11] You want to have clear goals. You want to have a clear picture of your life the way you look to get to and not only for your trading.

[11:45] If you want to be a successful trader, you have to also empower other areas of life.

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[12:39] If you don’t take care of the macro picture of your life, then there’s going to be a lot of distractions, there’s going to be a lot of volatility that will ultimately affect your trading.

[15:38] Ensure that you have your edge clearly outlined in a trading plan and in a trading checklist.

[17:06] The market’s never wrong. The market always has to be listened to because when the market presents an opportunity aligned to that trading plan, that’s when we execute.

[20:11] Hold yourself accountable to principles and don’t beat yourself up when you deviate from them every so often, over time you’ll build that muscle.

[22:17] How can you expect consistent profitability if you’re not consistently executing in the market.

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[26:41] To be a consistently profitable trader, you have to both win and lose.

[26:46] Winning and losing is both part of long-term consistent profitability. It’s part of the edge.

[33:21] There’s no such thing as losing without gaining and there’s no such thing as gaining without losing.

[36:30] The only thing that’s going to be able to tell you whether your strategy is profitable or not is the market.

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