Download Becky's custom trading audio tracks for free and start mastering the mental game to stay focused, grounded, and in control. 👉 https://www.market-mamas.com/audio-tracks-download In this episode of the Market Mamas podcast, futures day trader and host Becky Gaskell welcomes Will Young, a seasoned investor and long-term disciplined trader. Will shares his foundational philosophies for surviving and thriving across market cycles. The conversation centers on the psychological traps of trading - like the paralyzing fear of regret - and the strategic necessity of disciplined planning and preparedness. 👉 Love the show? You can now support Becky by buying her a coffee! https://buymeacoffee.com/marketmamas 👉 BluSky Trading: Get Funded NOW. Quickest path to brokerage, daily pay-outs, and customer service that actually helps. This is my preferred futures prop firm, period. https://blusky.pro?ref=mmamas 👉 If you find that now is your time to upgrade your trading setup, I highly recommend this incredible resource from a leader in trading computers. https://www.tradingcomputerbuyersguide.com/market-mamas-eztc-tcbg Check it out & receive a $50 off coupon just by looking at their informative PDF! Key Topics: Market Speed & Cycles: The rapid pace of modern technological shifts and how quickly market leadership and stock valuations can revert. The Discipline of Letting Go: The necessity of being agile and smart enough to quickly exit underperforming positions before losses escalate. The Long-Term Plan: Will Young's mandatory rule of having a written, shared plan covering 3, 6, 9, and 12 months to navigate inevitable market volatility. The Preparation Rule: The number one rule for success: always be prepared by actively trimming winning positions to build cash reserves for buying opportunities during downturns. Avoiding Regret (The Psychological Edge): How having cash prevents traders from making emotional decisions, such as selling losers under duress, which is the primary source of market regret. Episode Highlights and Timestamps: [00:00:00] – Intro [00:05:30] – Recommendation to use Bayesian probabilities (math over magic) to determine outcomes, and a strong caution against day trading options, which is likened to gambling. [00:08:56] – The challenge of political figures making market-moving statements to help friends, leading the speaker to keep more cash available for strategic entry points. [00:12:28] – The use of Sentiment Trader for high-probability, math-based trading decisions on indexes, emphasizing the goal of "pay the discipline tax today to get the freedom dividend in the future". [00:18:06] – The necessity of writing down thoughts to overcome the illusion of information adequacy bias and the commitment required to compete at the market's highest level. [00:27:59] – An extended analogy comparing the unpredictable nature of trading to surfing, emphasizing the need to be present, control one's own actions, and use stop losses as critical protections. [00:36:05] – The importance of taking a win and walking away after a windfall or loss to maintain peace of mind, and the practical strategy of making most trading decisions in the first 30 minutes of the day. [00:43:57] – The value of having cash available to take advantage of "unknown unknowns" - good stocks that fall cheaply after a bad event by doing homework ahead of time. 🔗 Follow Guest WiLL Young: 👉 Website: http://willryoung.com/ 👉 YouTube: https://www.youtube.com/@WiLLRYoung 👉 Email: will@willryoung.com 🔗 More from Market Mamas: 👉 Website: www.market-mamas.com 👉 LinkedIn: https://www.linkedin.com/in/becky-gaskell-market-mamas/ 👉 Instagram: @mm_marketmamas 👉 Facebook: Market Mamas Facebook 👉 TikTok: Market Mamas on TikTok 👉 Email: contactus@market-mamas.com #MarketMamasPodcast #TradingPsychology #DisciplinedTrading #LongTermInvesting #MarketMamas #FuturesTrader #TradingTips #TradeYourPlan #EventTrading