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Hello, everyone.
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We'll be discussing the most important topic in this video, which is trading psychology and how to
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manage our emotions before we spend any money in the financial markets or find our trading account.
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We have to first put in the ground, work and invest in ourselves in order to build a hard, emotionless
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mindset to achieve success.
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The financial markets are very volatile.
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You will feel the rush of emotions as the market goes from village to bearish.
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The breneman unconquered from these negative emotions becomes the biggest enemy, not only to you,
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but to your trading account balance.
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To begin our journey in defeating these naturally occurring emotions, we must firstly identify them
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and break down the effects on our trading journey.
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We have to remain aware of these naturally occurring negative emotions.
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Your biggest challenges would be greed, fear, denial, panic, depression, excitement, which means
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cockiness and anxiety.
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So let's break down one by one in steps.
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So greed, greed will hit you hard after a green week or two when you will be making some handsome profits.
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All these social media gurus who have projected get rich quick scheme thoughts into your mind, which
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then will force you to make ignorant decisions.
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You'll start over.
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Risking your portfolio or risking is the fastest way to blow your account on the mainstream media.
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There is a fake persona of creating.
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There is no such thing in reality.
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Like there always remember, slow and steady wins the race.
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Managing the risk is the first priority of every trader.
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As a professional trader, you have to manage your risk and you have to secure your funds.
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No to fear.
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Fear will strike you deep when you experience a bear market or investing more than you can afford to
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lose.
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Or after losing some trades in this chart which you are seeing, these kind of movements brings immense
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fear in the market.
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Certain drop brings immense fear in the market.
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As long as you are managing your risk, fear should not overtake you.
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Number three denial.
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Denial will plague you when your investment decisions turn out to be incorrect.
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This will most likely occur when a negative news or a scandal has been released.
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Panic.
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You will panic during the large intraday market swings when the market will make fake breakouts and
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move in the opposite way.
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This will lead to panic selling in Lost the chart, which you are seeing this of Bitcoin in US dollars.
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Imagine now imagine the triangle had a breakout towards the upside.
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No, on this scandal, majority of traders would have been bought over here, but unfortunately the
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market made a fake out and hid all their stop losses and came back again.
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As you can see in this triangle, depression, depression begins to come after a strong emotional discomfort
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from the markets after suffering from large financial losses in the markets.
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Excitement.
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This is more sort of a positive feeling, but excitement, if handled incorrectly, will lead to bad
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results.
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You will be overconfident and start risking more on every trick in the beginning stages.
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After a few successful trades, you'll be like, this is easy.
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I can do this every time.
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And now you're out of a logic.
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You're entering trades in the wrong positions.
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A very quick way to bringing your trading account to zero excitement takes the rationality away from
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trading anxiety.
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Every new trader or sometimes even experienced student, after going through a series of losses, becomes
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fearful.
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Thinking for all these worst case scenarios.
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Even if it is a right trade based upon technical analysis, risk is calculated, everything is managed
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till you'll have anxiety to take that trade and you wouldn't be able to place the trigger of executing
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the trade.
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This makes a person pessimistic, know how to conquer these negative emotions and have calmness and
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clarity through your trading journey.
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I'll give you a simple exercise.
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We calmness and clarity to work towards our fullest potential.
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A simple practice like meditation, you must program your mind to describe yourself a comfortable chair
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or sit in a quiet place and just close your eyes and observe your thoughts and focus on the breathing.
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Begin to gradually focus on breathing.
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This will not be easy in the beginning, but you will slowly get used to it while breathing.
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Your main priority is just to observe your thoughts without engaging them, without feeling them.
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Just observe them whenever a negative thought comes to bring it back to the present moment.
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So the law of repetition stays there.
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The more you practice, the more you get better at it.
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You'll be surprised at what kind of thoughts I'm thinking all day, not only in training.
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It will help you in all life.
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You will be extremely clear and conscious and make logical decisions.
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This will become a game changer in your investment and training journey.
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I'll give you some tips from my experience of trading.
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So always remember, simplicity is the key.
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Simple charts, clear and clean.
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Prosection is what you need.
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That's it.
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Don't follow the mainstream media, which every second grader uses ten in five indicators and they keep
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dragging this.
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It does not work at all.
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You need a crystal clean price and chart.
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That's it.
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And the less you trade, the more profitable you will be in the long run.
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Let's assume someone who is always looking for trades to enter and exit 24/7.
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No matter how professional you are, they'll always be a psychological implication when you're involved
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in their trade.
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I never even I'm involved in a trade.
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I have some sort of attachment to that trade.
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Why?
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Because my money is on the stake.
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It is natural, but you have to control your emotions here in the financial markets.
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You are given full power of your decision.
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You are in full control and you are put under this whole kind of responsibility.
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There are all kinds of mental judgment, consistent battles with yourself, all kind of crazy things
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running through your mind.
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So the least amount of rage you're in, the better.
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Remember the risk management module?
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We started about about high reward and low risk setups.
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The least amount of tricks, the better.
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And the golden point, let the market come to you, which means from which the price can bounce back.
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Never, ever, never, ever forcefully chase a trade.
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Let the market come to you.
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This is the golden point in the financial markets.
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Your actions will dictate your outcomes.
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We always blame others in the market, but we do not blame ourselves here in this markets.
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Our actions will dictate our outcomes.
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So now we have discussed the major challenging emotions.
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We have discussed how to manage them.
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So do apply all these practices which I have shown you in this review.
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It will make you a better human being and a better trader.
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I hope you have enjoyed the lecture and you have completely understood.
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Thank you so much.
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