Squashing negative self-talk with Jerremy Newsome

Have you ever spoken to yourself more harshly than you would ever speak to a friend? Of course you have. As we strive for success, sometimes we can be our own worst enemy.

And today, we’re going to explore this topic with Jerremy Newsome.

Jerremy Newsome is considered to be one of the leading global minds on Stock Market education. He is the CEO of reallifetrading.com and an Amazon Best-Selling author of the exceptional book ‘Money Grows on Trees’. He also runs his own podcast called ‘Broke to Woke’.

He escaped a cult at the age of 24, then became a millionaire at the age of 28, but it hasn’t been all smooth sailing. Jerremy had to learn how to cultivate success habits and how to squash that little negative voice we’re all familiar with.

Jerremy is a philanthropist at heart. Today, he helps people achieve financial freedom by creating revenue streams via the stock market. I’ve brought Jerremy into the hub to talk about specific strategies we can all use to take control of our mindsets, and to rise above that little heckler that lives inside our own heads.

Welcome Jerremy…

Questionnaire

As a trader, we plan for every contingency. We plan for the worst. We set stops. We are pragmatic. Exceptional traders know their worst-case scenario and they know when they need to step aside from the markets. When does this type of ‘negative thinking’ become a problem for traders?

Athletes often have two voices in their head – a ‘coach’ who offers constructive suggestions about improvements, and a ‘Destructive Spectator’. A Destructive Spectator is like a heckler, and they say things like “You’re awful at this, just give up!” Do you think traders experience the same sort of two voices?

How do you stop yourself from becoming self-destructive?

What if you’ve got a sticky thought – like one of those songs that gets stuck in your head and never gives you any peace? I know some traders say to themselves “You’re always going to lose money”, for example. What’s your advice for blocking out those sticky thoughts?

For humans rumination is the continuous thinking of the same thoughts, and those thoughts tend to be sad or dark. It can be really dangerous to your mental health, and prolongs and intensifies depression. Have you seen traders ruminate about trades where they didn’t perform at their best? What can traders do about rumination?

I remember you telling me once that you have never actually felt depressed. I think that’s incredible because so many people have had a brush, at least once, with depression. Why do you think you’ve been able to avoid it?

Depression has a way of rewriting your history and making even bright patches in your life feel dark. How do you head off this process in the early stages so you don’t have to experience full-blown depression?

How can we, as traders, use our family and friends and supporters to improve our performance?

How do you know when you need to reach out for help?

'One trial learning' is where a person learns a big lesson, because the impact from one event was large enough to make sure that behaviour was never repeated again. We all touch an oven once as a kid, but most of us learn from that one event not to do it again. Do you see traders experience one trial learning in the markets?

Is there any research on this topic in relation to traders?

Do you have a ‘try this at home’ tip?