1:05 - Tom Canfield introduction
3:23 - The importance of mindset
5:50 - The "ugly animal" of emotions
6:39 - The "village of idiots" inside of traders' heads
8:00 - Consistently profitable in 6 months? Tom's hilarious response
10:30 - The importance of recovery
13:00 - Why Tom is so honest & the "coaching mindset"
17:40 - True trading encouragement through honesty
19:02 - Tom's mentorship program & what to expect
21:00 - Over to the Twitter Spaces live recording!
Tom Canfield’s Guide to Mindset, Self-Awareness, & Trading in An Ugly Market
Tom Canfield is considered a legend in the trading world. But it’s not just because he’s smart about choosing stocks. It’s because he’s got an incredible mindset that every trader can learn from. Kim’s not afraid to dig deep — and Tom is willing to share his experience with traders in this no-holds-barred interview.
Tom’s high level of self-awareness has been hard-won. While he figured out the mechanics of trading fairly early on, the process of understanding the power of mindset and using it to his advantage has been a career-long practice. Traders at all levels can learn from his experiences, from finding success in a downward-trending market to lessons learned from a staggering six-figure loss.
What To Expect in This Episode
In this unique two-part episode, Kim starts by interviewing Tom about his journey of self-awareness in the stock market. You don’t want to miss his discussion of the “village of idiots” that live in every trader’s head — and how he’s learned to live with them and find success in the stock market and in life. Next, join Kim and Tom for a change in venue! They progress from the interview to a live recording of their Twitter Spaces open-forum chat where traders brought their mindset questions to the table.
Prepare to laugh — and to learn. Traders, you don’t want to miss this veritable minefield of mindset gems! Learn why Tom says that “Trading is like a mirror that is going to show you all of the dysfunction that you don’t think you have” … and so, so much more!
Tom Canfield, AKA “Canny,” has an undergraduate degree in Mathematics and an MBA from Vanderbilt University. After working on Wall Street for two years, he switched gears and started a chain of restaurants.
After a few years in the restaurant industry, Tom began to trade stocks in 1997 because he wanted more time with his family. As he wound down the restaurant business, he built up his trading skills and became a full-time trader by 1999. For him, trading is an expression of love for his family that has allowed him to be actively involved in his childrens’ lives and enjoy life on his own terms. He credits his wife, Mrs. Canny, AKA “Weezie,” as being foundational to his success by wearing many hats — best friend, therapist, anger management guru, and the most patient and loving woman alive.
Now, Tom has expanded into the trading education space with his newsletter/ video service called: BeDumbFollowPrice.com, where members get a weekly “brain dump,” market videos, a private Live Feed, and Q+A sessions.