EP.004 Tom Basso on Mindset with Sonal Darbar

In this special episode of the Tools of the Trade Podcast, guest host Sonal Darbar interviews trading legend Tom Basso. The episode delves deep into the timeless question: 'Which comes first, the mindset or the strategy?' Tom emphasizes the paramount importance of mindset in successful trading, sharing personal experiences and strategies that have shaped his serene approach over decades in the market. From awareness practices to the integration of AI, Tom covers it all. He also discusses how trading fits into a balanced and fulfilling life, highlighting the need for traders to have diverse interests and hobbies outside of trading. This episode offers both seasoned traders and newcomers valuable insights into maintaining emotional equilibrium and achieving long-term trading success.

Watch the Video Podcast on YouTube here:
https://youtu.be/VdN4_1R69tA

Topics:

00:00 Introduction
01:52 Welcome from Guest Host Sonal Darbar 
03:20 Tom’s Motivation for a Mindset Specific Episode 
08:33 Anthony Crudele 
10:10 Chicken or Egg 
12:05 Can You Engineer Self Out of System 
18:01 $108k Mistake 
19:04 AI: Who is the Captain of Ship?
20:04 Awareness, Book Report Story
23:06 Basketball in College 
24:39 Public Speaking Course
25:18 Awareness & Trading 
27:54 Post-It Note "Be Aware" 
29:37 The Observer 
30:54 Clip: Talents, Mental Weaknesses
35:41 Mr Spock Realisation: Does Emotion Outweigh Logic? 
40:16 Commanding Self to Relax, Physical Cues: Stressed Hand Clench 
42:48 Aware of Physical Cues, Let Go, Choose to Relax, Face Emotion Exercise 
44:45 Angry to Happy in 60secs 
45:32 Live Relaxed 
47:03 Movie: Associated vs Disassociated 
52:54 Discipline & Awareness 
55:46 Wins: Feel Nothing, Losses: Feel Everything 
59:56 ETR Comfort Ratio 
01:02:06 Find Your Facination Outside of Trading 
01:08:15 Obsession: Jiro Dreams of Sushi 
01:13:34 One final question: Group Support in Trading  

For more information about Sonal Darbar & Rfactory visit us at https://www.rfactory.io

For more information about Tom Basso visit https://enjoytheride.world

DISCLAIMER AND LEGAL NOTICE:
This content is for educational purposes only, and not intended for use as a source of investment or trading advice, nor as a recommendation or solicitation to buy or sell any asset. The creators of this content are researchers and educational presenters, not an accredited program or institution, nor are they professional advisors or brokers of any kind.  Trading and investing involves significant risk of loss.  You are responsible for your own results, and individual results vary. All content copyright protected.