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manage and calm your biology.
Now, it usually takes around
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design that to drive your
strategy edge the surfer cannot
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comfortable with engaging in
uncertainty and staying calm
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00:38:26,448 --> 00:38:30,348
psychological self that gauges
that uncertainty because there
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pure performance because you
realize what I've got is the
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perform and just let the
numbers fall. And you know this
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trader you must learn to go
with the flow of the market and
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operating in the now without
maybe seeing things as worse
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array of less complete
realities. So kind of what that
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of greed no look at the Bitcoin
chart and you think of all the
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to develop interlinking skills
that result in a mind that is
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you know the psychological edge
that takes me out of
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by training and working on it.
It is paramount to think the
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because that is the only state
of mind that works in trading.
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mind that performs and that's
what gives me the mental edge
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should take or moving your stop
loss to break even too early or
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that engages that uncertainty
in the market rather than the
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control you and your trading.
So, naming your fears and
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neuroplasticity can shift as
you move forward particularly
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five years for a trader to even
begin to realize, right? That
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success. Now David Eagle who's
an American neuroscientist he
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you can control but not the
outcome of individual trades
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visualisations now although
they can help in the short term
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million dollar question is how
do we transcend these two polls
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embody being a photon trader.
The part of your mind that
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their life via sex or you know
watching other people's lives
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damaging your long-term profit
and loss performance on your
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the market needs. It will have
to be retrained for task to
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to trading. The more you try to
avoid realising a trading loss,
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traders. Because the brain that
you brought to training cannot
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the pain, and the resentment.
But the exact same laws applied
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of the need to win and then
your job just becomes one of
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good news is is that the brain
is highly highly adaptive. The
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performance I can control the
performance I can control the
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even removing a stop loss
entirely, then the more you are
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are lots of trading systems
that can give you an edge but
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you must strive to achieve
objectivity. In other words,
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will collapse under stress but
you can change the
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but in doing so, they just get
stuck in a constant revolution,
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your higher objective mind and
seeing the whole picture for
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markets because evolution is
going to say fight or flight
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calls this adaptiveness of our
brain live wiring so literally
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your growth as a trader and
your biology is going to fight
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you're building it into the
mind that engages uncertainty.
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what it is it allows you to
pull out of artificial
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elated. I'm depressed. I'm
elated. I'm depressed. I'm
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market from within rather than
master it from above engaging
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pains. They try to stick only
to the one side. You know,
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creating the courage to push
through them is essential to
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control the wave right he works
in cooperation with it and he
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give you the success that you
seek. You are literally asking
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just takes whatever the wave is
willing to give to him now as a
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the light and become a master
trader. That is my mission to
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and acting on what you lies
through that limited awareness
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it is your mental edge that
drives it all so learn to
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And then what you'll realise is
that training has always been
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not be attached to your biases
and you're going to learn how
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bring the psychological edge
that was always there but
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recognizing that they can teach
you a lot about yourself is
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under pressure because you will
become the designer of the mind
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and patient so that it operates
from disciplined impartiality
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mind, you know, it's a skill
that can be taught and learned
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nature has given you is not
what the artificial world of
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people who had bought Bitcoin
at the top and they were still
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animal brain and this is the
difference maker you move from
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neuroplasticity of the brain
you can teach it to deal with
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getting drunk every weekend you
know chasing highs escaping
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An attachment to one side of
the pendulum. You're trying to
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so the major key here is to see
things objectively as they are
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the deception of controlling
outcome to controlling the mind
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help you reach and maintain
that level and that's the
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feeling this vibe. Evolution is
towards the light. That is when
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hold, there's an opposing
reality that is just as valid
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and it's not going to happen by
osmosis. It's going to happen
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and they can be a useful tool
for trading ultimately they
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journey that we're going to go
on throughout this program.
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correct way otherwise you will
be emotionally robbed of your
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problem is you can't really do
it with affirmations or
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evolutionary psychology. That
needing to win at all odds.
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and with patience because as
you do that you suddenly let go
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up right so they only read
articles and you know Twitter
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constantly try to seek only
pleasures and completely avoid
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this is the edge that you seek.
The key is what emotions are
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long but then it starts to
trend to the downside from the
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aggression or fear however by
design you can learn to
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change our nature and how we
trade and until you develop the
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than they are out of fear or
maybe better than they are out
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this is a necessary part of the
evolution of a trader. So, the
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going to show up as you start
to engage the unknown in the
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skills and tools to approach
your fears, they're going to
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It is in freeing ourselves from
the power of fear that we
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acting with pure agreed, the
more that they inevitably swing
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Hence the name Photon Trading.
That's what it means to be and
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posts and Instagram posts that
support their view so the
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about the mind. About the
emotions. About the
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overrun by fear and greed,
pleasure or pain, they evolve
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fundamental to your growth.
Acknowledging your fears and
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know for certain if your demand
zone is going to hold for
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sooner that you realize it, the
better. The trader state of
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back into the hangover, into
the come down, the depression,
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approach with curiosity with
discipline with impartiality
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if you know how to teach it and
this is kind of what the big
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certainty or fear and that
allows you to act methodically
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keep our decision making as
objective as possible how do we
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that you bring to the
management of uncertainty this
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means, right? In training, if
you're feeling certain or sort
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the brain is wiring as you go
along you know it can shift the
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you every step of the way. So,
you will be learning how to
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That gives me this enormous
gift of when my job is to
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so that we can view the market
from a neutral perspective and
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happiness, that only consist of
winning trades with no losses
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historical self rather than
your ancient lower minded
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work in a probabilistic and
uncertain environment. But the
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brain can literally change from
survival success to probability
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and accept uncertainty and you
will learn how to perform well
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this, like a triangle, right?
It's because it's a pendulum.
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that support their view that
Bitcoin is going to keep going
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to war the light toward the
soul. They are objective and
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is assuming that your strategy
and your rules have a proven
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seeks actuality is your higher
objective mind and as a trader,
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the brain to do something that
is its worst nightmare. What
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step ourselves from losing
masses and become master
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example. We don't know because
for every reality that you
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auto highs those people are
biased to only look for reasons
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profitable edge in them. And
what you're learning to do is
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of overconfident, that's likely
going to cost you money.
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you must seek to see the entire
picture including the entire
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celebrities but the more that
they try to chase that high you
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it's just an indication that
you're trying to fight the
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seek the truth. They seek
actuality. I want each and
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avoid facing and dealing with
their fears and pains by either
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Certainty in training is the
attachment to a single reality.
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they want to vibrate on a high
level. We know I'm really
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whether that be by not
executing a trade that you
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trading account. Master
traders, however, they're not
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Optimism and pessimism,
pleasure and pain, greed and
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and that's what people mean if
you ever hear them say that
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psyche and that goes for every
single polarizing emotion.
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every one of you to enter that
10 percent of traders to see
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bipolar right swinging from
each pole the masses want to
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oscillations. So, the reason
I've drawn the diagram like
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know chase the fantasy life of
only happiness only pleasures
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time and suddenly they start to
realize that you know what?
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were living in a a fantasy
land. So elation and
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in the lower mind, the animal
mind, it oscillates back and
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masters play. The losing, you
know, seventy, 80, 90% of
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the laws of polarity, rhythm,
and vibration. As you move up
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is the degree to which will
snap back and swing to the left
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before when they were
infatuated with them when they
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is up at the top and lower
vibration is down at the bottom
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they slowly start to become
aware of the perceived negative
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forth. So down here, your lower
mind oscillates according to
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online and living vicariously
through them and following
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and you start using your higher
mind, your prefrontal cortex,
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vibrating at a higher
frequency. So, high vibration
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the vibration becomes faster
and faster. You are literally
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into the perceived negatives
and this is how people become
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the right, to chase all of the
positives without the negatives
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you know, back and forth. The
more that you try to swing to
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master your training is to pull
out of these emotional
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oscillating between those
poles. I'm depressed. I'm
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governments and the media. Now,
to master your life and to
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traders, those are the masses
down here. The masses
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So, think of a pendulum
swinging to and fro down here
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oscillating from one polarity
to an X. Back and forth, back
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chasing a fantasy of a life
that only consists of
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the length of the pendulum
becomes smaller and smaller and
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or even months of dating and
they think their partner is
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elated. They're yo-yos back and
forth. Now, I'm sure we've all
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afterwards when you realize the
perceived negative to your
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come across someone who's so
emotionally charged and
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and forth. They're constantly
polarized and manipulated by
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fear. You know, so often people
spend their entire lives
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you are feeling negatively You
know, you often see this with
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volatile at that. I love them.
I hate them. You know, down
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every action in the universe
there is an equal and opposite
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here is where the masses are.
They live their entire lives
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positive charge well Newton's
third law it tells us that for
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absolutely infatuated with each
other for the first few weeks
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right so down here in the
physical realm whenever you
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realize that actually, they're
not that perfect after all and
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situation that you were
initially blinded to and now
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science we know that an ion is
a charge particle and it's
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traits that that person has but
they were completely blinded to
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that are starting to grind on
them and annoy them and they
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depression, they will always be
balanced and conserved in your
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reaction so what this means is
that the more relation that you
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feel the more depression that
you will inevitably feel
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Actually, their partner has
quite a few annoying traits
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psychology we know that anyone
who has an emotional perception
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mass you have charge you have
space and you have time now in
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create a positron right from
that particle of light and then
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different when you get two
photons and you smash them
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just perfect but as always,
just give it a little bit of
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of something we say they are
emotionally charged about it
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together they split and you
create an electron and then you
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they gain mass so down here in
the physical realm you have
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the feeling of you know perhaps
pure relation you have a
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new couples in the honeymoon
phase, right? Where they're
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sway away from balance and
neutrality maybe you experience
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no mass but down in the
physical realm things are a lot
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the bottom think of this as
matter right so physical
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physical realm so basically
everything that you can see you
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objects now in physics we know
that if you are a photon that
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can touch you can hear and you
can smell now up at the top of
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is a particle of light you have
no time no space no charge and
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the diagram I want you to think
of this as light and down at
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good setups, then you will be
ready for them with less cash
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your thinking brain and down at
the bottom we have the lower
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make up all human psychology,
the higher and the lower minded
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we have the higher mind this is
your soul your spiritual realm
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you may be starting to get
familiar with that represents
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where all of the variables from
your system align and then
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patience is also a form of
action. If you can't wait for
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the mind with those two parts
of our brains so up at the top
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animal mind these are your
emotions your senses your
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animal, what we're going to do
is draw a diagram that some of
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maximize profits and let the
trade play out. But remember,
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to trade. Your choice. So, if
we take these two parts that
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00:27:44,468 --> 00:27:47,448
learning curve. You need
patience to wait for a trade
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is a virtue that is vital to
success in training. A large
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patterns of avoidance and or
aggression dominate. The
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00:27:35,108 --> 00:27:38,548
thinking brain is easily
overwhelmed. You know, patience
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amount of patience is required
in order to go through the
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patience is needed when you're
in the position in order to
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real and not theoretical. In
the heat of performance and
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You know, you just follow your
plan until uncertainty becomes
228
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get hit in the mouth. Success
in training seems so doable.
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uncertainty, your training plan
disappears and instinctive
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indefinitely and they
eventually blow up and quit or
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mechanism. It does not perceive
risk. All it sees is threat to
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all risk is a threat to our
imminent survival. To the
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and on a longer term horizon
than which our emotional brain
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untrained brain and mind, any
triggering of threat, you know,
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technical reason it can as to
why you should avoid executing
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management the essence of
successful trading is risk
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life and the psychological
discomfort of risk. Now, let me
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process by which we assign
levels of risk so that our odds
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was actually built to manage
consistent and profitable
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you can avoid the risk and pain
of uncertainty. You know, most
241
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trading becomes possible with
good risk management. However,
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biological fear and the
psychological discomfort of
243
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management that's all we are
doing to make money it's a
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psychological discomfort of
risk you know much less risk
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logical and rational beings and
that view of the world
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to the short term, immediate
focus of the emotional brain,
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of profitability are higher
than our odds of loss over time
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with their training.
Biologically, our brains are
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traders misunderstand the
problem. We think that we are
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regulate impulse so that we can
make the distinction between
251
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distinguishing between real
biological fear and the
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start of understanding the
problem that most people have
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say that the emotional survival
brain is incapable of
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risk management. You know,
Everybody has a plan until they
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it automatically produces a
biological fear response from
256
00:27:04,388 --> 00:27:07,868
our primitive brain. So the
brain has to be trained to
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distinguishing between real
biological fear, IE a threat to
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emotional beings who then
rationalize and that's the
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built around fear and the
avoidance of fear as a survival
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life. The emotional survival
brain is just incapable of the
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dominates our perception but we
are not rational beings. We are
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a trade or why you should take
your profits and run just so
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psychology but that's bad news
for training probabilities.
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ducks? Or maybe you see two
rabbits? Or do you see a duck
265
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lady wearing a headscarf? What
about here? Do you see two
266
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You are wired to see
uncertainty as a threat. Your
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00:18:14,608 --> 00:18:17,368
period of time where this thing
needs to be happening and all
268
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they are calm and their
thinking brain is in full
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between your revenue which is
you know generally generated by
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survival adaptations that are
part of our shared evolutionary
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uncertain, remember your animal
brain is terrified of
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looking at the charts. When
you've got exposure to risk in
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you know those common
behavioral problems kick in and
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flight mode and your thinking
brain is literally disabled.
275
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like fear of executing trades
or fear of taking a loss and
276
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of reasons of why you should
avoid taking a trade or why you
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the prefrontal cortex now when
you are nice and calm and relax
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that needs to play out in your
favor because you have not
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market that the stress has and
left your body and you are calm
280
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once you're out of the trade
and your capital is no longer
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will kick in to make you avoid
any perceived pain at all costs
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your lower animal minded brain
it starts looking for all sorts
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00:23:22,028 --> 00:23:25,428
mind animal brain, it sees the
sensory information coming in
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is something that you will
adapt to over time and realize
285
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money should never come as a
surprise to a trader who is
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see when you look at this
image? Do you see a young woman
287
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brain is back in control only
then do you realize the mistake
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00:23:59,208 --> 00:24:01,928
be triggered and all of your
primitive instinctive behaviors
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exposed to risk in the
uncertain environment of the
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00:23:30,828 --> 00:23:34,588
dangerous situation or not. If
it is dangerous, if it is
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Why? Because none of those
three are controllable but our
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Because your brain is built to
control outcome, it's built to
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00:21:28,388 --> 00:21:31,908
strategies will have losses.
Loses are the price of doing
294
00:25:20,108 --> 00:25:22,508
on you and this will start to
happen when you're trading and
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you shouldn't do and you know,
as most of you are probably
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over again it's the same reason
that most traders take their
297
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Your goal is simply to make
money. That's it, period. You
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00:20:41,128 --> 00:20:44,008
purchasing the products,
supplies, paying any overheads,
299
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whether it be in sports or
taking exams in school the need
300
00:21:13,468 --> 00:21:16,628
accepting this may be a bit of
a nailing concept. However, it
301
00:20:55,128 --> 00:20:57,928
because you must pay for your
outgoings such as you know
302
00:20:14,188 --> 00:20:17,588
have a very, very special
relationship with both losing
303
00:25:12,428 --> 00:25:16,988
about to eat a rabbit's head?
These optical illusions are a
304
00:24:59,848 --> 00:25:02,568
looking over her right
shoulder? Or do you see an old
305
00:25:16,988 --> 00:25:20,108
great illustration of how your
brain can literally pay tricks
306
00:19:09,528 --> 00:19:12,648
accepted the risk that you need
in order to capture the
307
00:24:37,028 --> 00:24:40,268
your heart rate has subsided
and only now when your thinking
308
00:18:45,388 --> 00:18:48,508
you know, just shy of fiveR and
you see that prices come the
309
00:24:49,868 --> 00:24:53,068
know I've certainly experienced
this countless times because
310
00:23:45,868 --> 00:23:48,988
sprinting at you. Your amygdala
instantly goes into fight or
311
00:24:06,088 --> 00:24:09,608
and this all happens in
nanoseconds. So this is when
312
00:24:47,428 --> 00:24:49,868
much guarantee that you would
have experienced this because I
313
00:18:19,928 --> 00:18:23,288
you have this enormous desire
to win and that's why most
314
00:18:29,248 --> 00:18:32,948
should do. Why? Because the
caveman brain takes over and it
315
00:22:56,528 --> 00:22:59,368
all the incoming information it
goes straight into your
316
00:16:33,368 --> 00:16:36,328
manage that loss but that's a
dead human species to be
317
00:24:24,788 --> 00:24:28,468
protect what you already have
and then it's only afterwards
318
00:11:31,628 --> 00:11:34,068
bouncing around the Savannah in
your jeep, you know, you might
319
00:23:43,748 --> 00:23:45,868
you may as well have a
sabertooth target coming
320
00:15:40,728 --> 00:15:43,648
predict what's going to happen
next in the future but then,
321
00:24:21,528 --> 00:24:24,788
need to close the trade early
until your profits and run to
322
00:24:43,748 --> 00:24:47,428
that you made now if you've
traded before then I can pretty
323
00:14:56,128 --> 00:14:59,008
environment and when humans
didn't have all the cool tools
324
00:18:00,608 --> 00:18:04,048
in the uncertainty of the
markets. You've got risk there,
325
00:17:51,708 --> 00:17:54,308
outcomes you don't control
whether or not you want to lose
326
00:25:25,468 --> 00:25:28,188
the markets, it's likely your
brain will start finding any
327
00:23:12,688 --> 00:23:15,328
control and they continue to
make the correct long-term
328
00:15:19,568 --> 00:15:22,288
going to prevail you know
against all odds that rocky
329
00:14:16,768 --> 00:14:19,988
have great success demo trading
with fake money when they're
330
00:23:25,428 --> 00:23:27,868
and it makes a decision, you
know, based on that past
331
00:17:40,988 --> 00:17:43,948
because they're sitting there
pushing their agenda thinking
332
00:24:53,068 --> 00:24:57,008
your brain literally plays
tricks on you So what do you
333
00:15:56,888 --> 00:15:59,728
and it's used against us.
Suddenly, what used to be so
334
00:17:04,308 --> 00:17:07,308
bringing that ancient brain to
the game and your emotional
335
00:14:10,688 --> 00:14:13,528
survival instincts it takes
over your decision making in
336
00:22:47,628 --> 00:22:50,848
thrival. It's the most advanced
part the brain and activates
337
00:08:31,188 --> 00:08:34,588
place where you take money out
of on a fairly regular basis
338
00:14:33,188 --> 00:14:36,708
literally asking this caveman
here to deal with the computer
339
00:17:45,988 --> 00:17:48,868
odds I can make this thing
happen when in fact what you
340
00:23:37,508 --> 00:23:40,548
uncertainty and when you're
trading with real capital at
341
00:22:32,788 --> 00:22:35,628
is necessary for survival and
it's the most primitive part of
342
00:23:27,868 --> 00:23:30,828
learning about whether or not
that information presents a
343
00:16:55,008 --> 00:16:57,688
testosterone it really has to
help you make you think you're
344
00:22:19,908 --> 00:22:23,588
brain when you're training. You
see, every human has two
345
00:16:49,328 --> 00:16:52,048
the mind that you brought into
trading it's not going to be
346
00:18:23,288 --> 00:18:25,808
traders will actually move
their stoppers to break even
347
00:09:06,708 --> 00:09:09,208
they take a few loss is they
start to doubt and hesitate
348
00:10:52,368 --> 00:10:54,368
let's flip the script and
pretend you're one of the
349
00:21:31,908 --> 00:21:33,988
business in the markets and
they're always going to be
350
00:08:56,708 --> 00:08:59,868
pains, it can be very costly to
your trading account balance
351
00:22:29,108 --> 00:22:32,788
pleasure and avoid pain at all
costs. This part of the brain
352
00:13:53,328 --> 00:13:56,688
enormous motivation to win you
know you can see the vision you
353
00:13:50,248 --> 00:13:53,328
market with real capital at
risk you just have this
354
00:23:18,168 --> 00:23:22,028
training but when you are
stress the amygdala, your lower
355
00:21:49,188 --> 00:21:52,868
boils down to the problem of
the brain uncertainty. Why?
356
00:23:04,968 --> 00:23:07,728
demo training because there's
no real capsulate risk right
357
00:22:16,748 --> 00:22:19,908
quick look at what's actually
going on biologically in your
358
00:12:16,888 --> 00:12:20,128
brain relatively similar to
ours now in particular the
359
00:21:25,428 --> 00:21:28,388
certainty. So, it's important
to realize that all training
360
00:21:56,068 --> 00:21:59,388
be right, and it's built to try
and predict the future. You
361
00:17:30,508 --> 00:17:33,268
your brain short-term survival
orientation is going to
362
00:20:57,928 --> 00:21:02,028
business travel or office rent
you would see it as a necessary
363
00:17:54,308 --> 00:17:56,548
you don't control whether or
not you're right or wrong
364
00:22:26,628 --> 00:22:29,108
lower minded animal that
constantly wants to seek
365
00:16:18,448 --> 00:16:21,568
become a good ambush predator.
You don't go chasing after
366
00:19:03,408 --> 00:19:06,888
Why? Because you don't allow
the trade, the room or the time
367
00:21:37,588 --> 00:21:40,508
always predetermined and capped
on every trade so the loss of
368
00:20:32,008 --> 00:20:34,728
know in conventional business
your profit is the difference
369
00:23:40,548 --> 00:23:43,748
risk, right? In an uncertain
environment of the market, then
370
00:19:29,488 --> 00:19:32,768
back to the market what you
already have that pain is too
371
00:21:43,148 --> 00:21:49,188
risk managing correctly. Now,
the problem, it really all
372
00:23:07,728 --> 00:23:10,648
there's no threat to life to
the low animal minded brain so
373
00:17:00,568 --> 00:17:04,308
attempt it but you can't bring
that into the markets. You're
374
00:10:31,888 --> 00:10:35,488
On any given day, most of your
choices as a giraffe, like what
375
00:23:15,328 --> 00:23:18,168
decisions that's required for
consistently profitable
376
00:18:04,048 --> 00:18:08,208
your money on the line. Scary
stuff, right? But that money to
377
00:23:55,928 --> 00:23:59,208
caveman brain, your amygdala,
it's constantly just waiting to
378
00:20:52,768 --> 00:20:55,128
know you wouldn't think that
your business is losing just
379
00:11:56,988 --> 00:11:59,548
understand that saving and
investing money, right? To
380
00:16:39,808 --> 00:16:43,008
we are that's what we bring
into the game of trading we
381
00:19:59,648 --> 00:20:03,188
impact on your trading it's a
terrible a model to transfer
382
00:20:50,408 --> 00:20:52,768
but a part of running that
successful business right? You
383
00:20:03,188 --> 00:20:07,268
over and apply to trading the
financial markets. Remember,
384
00:20:07,268 --> 00:20:11,068
successful training is far from
normal. In fact, it's the
385
00:21:33,988 --> 00:21:37,588
prominent regardless of how
skilled you become but risk is
386
00:18:25,808 --> 00:18:29,248
too early before their actually
strategy dictates when they
387
00:18:59,268 --> 00:19:03,408
aware that over the long term,
that's a recipe for disaster.
388
00:17:36,988 --> 00:17:40,988
for your edge to work in the
heat of the moment 80% blow up
389
00:19:18,088 --> 00:19:21,688
if you just did not let your
primitive animal brain take
390
00:17:07,308 --> 00:17:12,228
caveman brain, all it does is
see all uncertainty as a direct
391
00:09:27,728 --> 00:09:30,648
and get rid of that pain by
trying to be right and make
392
00:13:47,848 --> 00:13:50,248
that when you get in there and
you start trading live in the
393
00:21:22,228 --> 00:21:25,428
market. Successful training is
a game of probability not
394
00:16:43,008 --> 00:16:46,088
bring an old ancient mind
rooted in survival instincts
395
00:16:52,048 --> 00:16:55,008
the mind that produces success
in trading you know
396
00:16:31,128 --> 00:16:33,368
know I'm going to be losing a
lot so I need to be able to
397
00:16:24,448 --> 00:16:27,448
completely different things.
You don't have to think I have
398
00:23:02,608 --> 00:23:04,968
lot of people they find that
they have great success with
399
00:22:59,368 --> 00:23:02,608
thinking brain right into the
higher cortex and that's why a
400
00:15:50,768 --> 00:15:53,728
hard-earned trait that allowed
us survive in that short-term
401
00:12:59,568 --> 00:13:02,448
that makes up your daily life
has been created in a very
402
00:16:14,488 --> 00:16:18,448
on probability, not certainty.
In fact, what happens is you
403
00:22:44,468 --> 00:22:47,628
and execution. So this part of
the brain is necessary for
404
00:15:53,728 --> 00:15:56,888
survival, we bring it into the
long-term survival of trading
405
00:16:05,648 --> 00:16:08,928
used against us in trading.
Because in trading and in the
406
00:16:11,408 --> 00:16:14,488
completely different. The
environment of trading is based
407
00:15:29,568 --> 00:15:31,768
trait, we're not going to be
the human beings that we are
408
00:15:37,528 --> 00:15:40,728
that need and desire to win,
that desire to project and
409
00:22:42,068 --> 00:22:44,468
responsible for self
governance, strategic thoughts
410
00:15:25,768 --> 00:15:29,568
inheriting it became a part of
our geno and without that
411
00:22:38,588 --> 00:22:42,068
amygdala. The second is your
higher minded animal and it's
412
00:22:35,628 --> 00:22:38,588
the brain and it activates the
emotion center which is your
413
00:22:23,588 --> 00:22:26,628
distinct parts to their
psychology. The first is your
414
00:14:46,428 --> 00:14:50,308
so good and helpful for us. A
00, 000 years ago getting lunch
415
00:13:02,448 --> 00:13:06,648
small window of time. A lot can
happen in 100 years. But from
416
00:14:36,708 --> 00:14:39,908
to deal with the probability
and uncertainty of trading
417
00:14:19,988 --> 00:14:22,948
calm but when they deal with
real risk when your real
418
00:11:50,148 --> 00:11:53,508
were not designed and did not
evolve to solve the problems of
419
00:13:44,648 --> 00:13:47,848
that dream. You start chasing
that dream. Then, you start
420
00:21:59,388 --> 00:22:02,028
know, we all want to love and
to do that and these are
421
00:22:12,228 --> 00:22:16,748
brain is hot wired to think
that they are. So, let's take a
422
00:11:09,848 --> 00:11:12,308
If you save money now, you'll
have enough for retirement
423
00:12:05,668 --> 00:12:09,188
we find it very hard to suffer
the pain now for the delayed
424
00:14:22,948 --> 00:14:26,628
capitals on the line with an
uncertain outcome suddenly the
425
00:13:56,688 --> 00:14:00,608
want to conquer it but the
problem is that desire and that
426
00:11:45,948 --> 00:11:50,148
purpose? Should I change jobs?
Unfortunately, human brains
427
00:10:48,728 --> 00:10:52,368
actions instantly deliver clear
and immediate outcomes. Now,
428
00:20:44,008 --> 00:20:46,928
office rent insurance, you know
paying the staff their wages.
429
00:21:02,028 --> 00:21:05,628
component of running the
business but also a key part of
430
00:20:46,928 --> 00:20:50,408
There are running costs which
you would identify as expenses
431
00:21:19,348 --> 00:21:22,228
as an important tweak in your
perception of results in the
432
00:11:43,228 --> 00:11:45,948
I really doing the work I was
meant to do? Is this my
433
00:20:22,388 --> 00:20:27,148
not to win and avoid losing.
Your goal is not to be right.
434
00:19:43,728 --> 00:19:46,168
I'm not someone who believes in
awarding everybody you know a
435
00:19:49,328 --> 00:19:52,488
taught from a very young age
that only winning is rewarded
436
00:10:35,488 --> 00:10:38,528
to eat or where to sleep or
when to avoid a predator, make
437
00:11:01,608 --> 00:11:03,688
most of the choices that you
make today, they're not
438
00:19:25,848 --> 00:19:29,488
profits way too early because
the pain of potentially giving
439
00:19:12,648 --> 00:19:15,368
potential of reward that you
know that your strategy aid
440
00:10:23,128 --> 00:10:25,848
hungry, you walk over a munch
from a tree. When a storm rolls
441
00:10:57,928 --> 00:11:01,608
in what researchers call a
delayed return environment. So,
442
00:10:45,568 --> 00:10:48,728
scientists call an immediate
return environment because your
443
00:18:53,188 --> 00:18:56,068
quickly as possible, you know,
when your strategy says that
444
00:21:05,628 --> 00:21:09,508
its ability to actually succeed
and become profitable. In
445
00:10:11,088 --> 00:10:14,168
separates you from the humans,
perhaps the biggest difference
446
00:21:09,508 --> 00:21:13,468
trading, losses should be
viewed as expenses. Now,
447
00:18:17,368 --> 00:18:19,928
of a sudden your survival
instincts kick in and suddenly
448
00:18:32,948 --> 00:18:35,588
wants to protect you at all
cost from the pain of
449
00:10:20,128 --> 00:10:23,128
provides an immediate benefit
to your life. When you're
450
00:10:42,048 --> 00:10:45,568
on the present or the very near
future. You live in what
451
00:10:05,268 --> 00:10:08,188
group of humans driving around
on a safari taking pictures of
452
00:10:02,908 --> 00:10:05,268
that's seven feet long and
every now and then, you spot a
453
00:20:37,728 --> 00:20:41,128
sales of a product or a service
and then your costs such as
454
00:09:30,648 --> 00:09:33,968
money by forcing on the market
without being patient and
455
00:17:56,548 --> 00:18:00,608
because what you're engaging in
is randomness you're engaging
456
00:12:37,408 --> 00:12:40,928
brain, modern society is
incredibly new. It's only
457
00:10:16,968 --> 00:10:20,128
your picture is that nearly
every decision that you make
458
00:10:00,668 --> 00:10:02,908
grasslands of the African
Savannah, you have a neck
459
00:20:17,588 --> 00:20:22,388
and winning, with both being
right and wrong. Your goal is
460
00:09:03,188 --> 00:09:06,708
death loop that many FX traders
find themselves in. You know,
461
00:11:39,308 --> 00:11:43,228
every day. Speaking of work, Is
it time for a career change? Am
462
00:12:40,928 --> 00:12:44,288
recently during the last 500
years or so that our society
463
00:13:06,648 --> 00:13:10,448
the perspective of evolution,
however, 100 years is nothing.
464
00:11:24,908 --> 00:11:27,788
shelter from a storm, many of
the problems that humans worry
465
00:11:53,508 --> 00:11:56,988
a delayed return environment.
We have the thinking ability to
466
00:17:48,868 --> 00:17:51,708
start noticing in trading is
that you do not control
467
00:20:11,068 --> 00:20:14,188
complete opposite from most
ventures in life. You need to
468
00:18:12,048 --> 00:18:14,608
and now you've got a big
challenge. You've got a short
469
00:09:24,568 --> 00:09:27,728
the market and all themselves
so they revenge trade to try
470
00:13:30,248 --> 00:13:33,488
and you think, wow, you know, I
really could do that. You've
471
00:12:09,188 --> 00:12:13,568
reward later. The remains in
modern humans are approximately
472
00:19:46,168 --> 00:19:49,328
participation medal just for
taking part in something being
473
00:12:47,608 --> 00:12:49,928
the pace of change has
increased exponentially
474
00:17:12,228 --> 00:17:15,988
threat. Everything uncertain
was a threat and a danger to
475
00:17:19,108 --> 00:17:23,148
and that brain is activated by
stress. The traders need to
476
00:18:08,208 --> 00:18:12,048
you is the risk of life to the
caveman that is your ancestor
477
00:16:46,088 --> 00:16:49,328
that were good for us way back
then and then you discover that
478
00:17:26,788 --> 00:17:30,508
and then take the risk or you
lose a chance of reward. Now,
479
00:17:15,988 --> 00:17:19,108
our ancestors. That's the brain
that you're bringing to trading
480
00:11:34,068 --> 00:11:37,148
think, this Safari's been a lot
of fun. It'd be pretty cool to
481
00:16:57,688 --> 00:17:00,568
invincible so that you can
catch food otherwise you never
482
00:11:03,688 --> 00:11:06,608
necessarily going to benefit
you immediately. If you do a
483
00:14:03,928 --> 00:14:07,408
that is from your distant past
unfortunately your inner
484
00:19:32,768 --> 00:19:35,848
great and your caveman brain
takes over and it tries to
485
00:11:06,608 --> 00:11:09,848
good job at work today, you'll
get a paycheck in a few weeks.
486
00:16:36,328 --> 00:16:39,808
thinking that way you know 50
to 100, 000 years ago but here
487
00:16:27,448 --> 00:16:31,128
to win. What you're doing is
saying, I'm calculating and I
488
00:13:10,448 --> 00:13:13,688
The modern human brain spent
hundreds of thousands of years
489
00:13:24,448 --> 00:13:27,568
designed to value those
immediate returns. You know,
490
00:13:27,568 --> 00:13:30,248
trading looks so simple. You
can see this probability stuff
491
00:10:08,188 --> 00:10:11,088
you but it's not just your neck
and their cameras that
492
00:16:02,488 --> 00:16:05,648
anything, become anything
against all odds. Suddenly it's
493
00:12:20,128 --> 00:12:22,928
neocortex that is the newest
part of the brain and the
494
00:15:22,288 --> 00:15:25,768
mentality had actually became a
trait that we all started
495
00:09:18,848 --> 00:09:21,968
skip to avoid that potential
pain those trades end up being
496
00:15:16,408 --> 00:15:19,568
successful that this need to
win this belief that I'm
497
00:17:33,268 --> 00:17:36,988
compromise your need to take a
long-term perspective in order
498
00:11:19,548 --> 00:11:22,548
of our problems as well. While
a giraffe is worried about the
499
00:15:09,888 --> 00:15:13,128
the way that the emotional
brain learns it locks it in and
500
00:12:13,568 --> 00:12:16,888
200, 000 years old and these
were the first humans to have a
501
00:15:13,128 --> 00:15:16,408
then it becomes a pattern and
that became a trait that was so
502
00:10:25,848 --> 00:10:28,368
across the plains, you take
shelter under the brush. When
503
00:12:02,748 --> 00:12:05,668
can think and understand that
it's a logical thing to do but
504
00:09:09,208 --> 00:09:11,928
their strategy or their own
ability so they skip the next
505
00:09:11,928 --> 00:09:15,568
trade or two in order to avoid
that pain of potentially being
506
00:09:43,348 --> 00:09:46,228
they play the break even dance
for the rest of their trading
507
00:12:25,968 --> 00:12:30,568
was roughly the same size 200,
000 years ago as today. So what
508
00:12:30,568 --> 00:12:33,928
this means is you are walking
around with the same hardware
509
00:09:46,228 --> 00:09:50,268
careers. So what's going on
here? Why do we as humans
510
00:17:43,948 --> 00:17:45,988
I'm going to win I'm going to
win I'm going to win at all
511
00:09:54,788 --> 00:09:57,708
might seem a little bit weird
so bear with me but let's
512
00:13:17,368 --> 00:13:20,648
and in the blink of an eye, the
entire environment changed to
513
00:14:59,008 --> 00:15:02,288
no houses or guns we had these
little spears against these
514
00:08:22,848 --> 00:08:25,888
position is going to get even
worse. You're hopeful that it's
515
00:12:33,928 --> 00:12:37,408
as your paleolithic ancestors.
Now compared to the age of the
516
00:19:55,768 --> 00:19:59,648
to win or the need to be right
that has a hugely detrimental
517
00:17:23,148 --> 00:17:26,788
embrace uncertainty. You need
to learn how to accept the risk
518
00:11:37,148 --> 00:11:39,308
work as a park ranger, you
know, I could see giraffes
519
00:16:21,568 --> 00:16:24,448
trades, you wait for the
opportunity to come to you,
520
00:11:59,548 --> 00:12:02,748
compound it for a comfortable
retirement later in life, we
521
00:18:35,588 --> 00:18:38,508
potentially taking a loss. You
know, it wants to remove that
522
00:18:41,108 --> 00:18:42,988
because when you're sitting in
this trade, you're seeing that
523
00:11:12,308 --> 00:11:16,028
later. Many aspects of modern
society are designed to delay
524
00:12:53,848 --> 00:12:56,568
seen the rise of the car, the
airplane, the television, the
525
00:10:28,368 --> 00:10:31,888
you spot a lion stalking you
and your friends, you run away.
526
00:11:27,788 --> 00:11:31,628
about are problems of the
future. For example, while
527
00:12:22,928 --> 00:12:25,968
region responsible for higher
functions like language and it
528
00:11:16,028 --> 00:11:19,548
rewards until some point in the
future, right? And this is true
529
00:11:22,548 --> 00:11:24,908
immediate problems like
avoiding lions and seeking
530
00:13:35,968 --> 00:13:39,008
calculator and you look at it
and you go, my god, I can make
531
00:10:38,528 --> 00:10:42,048
an immediate impact on your
life. You are constantly focus
532
00:14:13,528 --> 00:14:16,768
those critical moments and
that's why right when people
533
00:09:21,968 --> 00:09:24,568
the winning trades in their
edge now they're pissed off at
534
00:14:30,068 --> 00:14:33,188
us from a time that doesn't
even exist anymore you are
535
00:12:44,288 --> 00:12:47,608
has shifted to a predominantly
delayed return environment and
536
00:09:15,568 --> 00:09:18,848
wrong again or losing money but
then those trades that they
537
00:10:54,368 --> 00:10:57,928
humans vacationing on Safari.
Unlike the giraffe, humans live
538
00:13:41,648 --> 00:13:44,648
free. You know, you get
intoxicated. You start dreaming
539
00:08:47,868 --> 00:08:52,668
by the same subconscious human
desire to simply avoid pain at
540
00:09:57,708 --> 00:10:00,668
pretend for a moment that you
are a giraffe. You live on the
541
00:09:33,968 --> 00:09:37,308
waiting for high probability
setups so what inevitable
542
00:08:43,828 --> 00:08:47,868
behaviors are all ultimately
caused by what? They're caused
543
00:10:14,168 --> 00:10:16,968
between you and your giraffe
friends and the humans taking
544
00:09:50,268 --> 00:09:54,788
constantly try to avoid pain?
Well, to understand that, this
545
00:08:59,868 --> 00:09:03,188
over the long term and here's
one such example of a typical
546
00:09:37,308 --> 00:09:40,708
happens. They take my losses
and the cycle repeats itself
547
00:19:39,208 --> 00:19:43,728
just wants you to win and to
survive at all costs now whilst
548
00:14:26,628 --> 00:14:30,068
game is very different you know
we carry a lot of baggage with
549
00:19:35,848 --> 00:19:39,208
protect you to protect what you
have in your tight grasp it
550
00:08:13,808 --> 00:08:17,568
away from you. And if you are
losing 1000 pounds, you're most
551
00:15:47,248 --> 00:15:50,768
looks so easy no longer becomes
easy and we take that
552
00:18:51,188 --> 00:18:53,188
a loss now. So, you just
want to remove that risk as
553
00:18:38,508 --> 00:18:41,108
risk that you have off the
table as quickly as possible
554
00:15:05,808 --> 00:15:09,888
land on top and win and that
was Olympic learning and that's
555
00:15:34,848 --> 00:15:37,528
helpful in modern business and
corporate careers, you know,
556
00:19:15,368 --> 00:19:18,088
holds and you know you
potentially could have banked
557
00:15:43,648 --> 00:15:47,248
when we get into trading and
everything goes bananas, what
558
00:18:48,508 --> 00:18:51,188
way back and you think, well,
you know, I don't want to take
559
00:15:31,768 --> 00:15:34,848
today and you know what? To be
fair, it's actually really
560
00:18:42,988 --> 00:18:45,388
you're running a nice profit.
Let's say you're running about,
561
00:16:08,928 --> 00:16:11,408
environment that we grew up in
through revolution, they're
562
00:15:59,728 --> 00:16:02,488
good, so adaptive for us, that
belief that we could conquer
563
00:15:02,288 --> 00:15:05,808
huge awesome predators we had
to believe that we're going to
564
00:14:39,908 --> 00:14:43,028
literally to just sit there and
to fight digital candlesticks
565
00:14:53,568 --> 00:14:56,128
odds we were going to survive
because we're in a very hostile
566
00:14:50,308 --> 00:14:53,568
could literally kill you. We
needed believe that against all
567
00:14:43,028 --> 00:14:46,428
all day long. Those survival
instincts that they used to be
568
00:14:07,408 --> 00:14:10,688
caveman is doing the trading
when you are stressed primitive
569
00:13:39,008 --> 00:13:41,648
a lot of money. I can get rich
quick. I can be financially
570
00:13:33,488 --> 00:13:35,968
done the numbers, you played
around on the compound interest
571
00:14:00,608 --> 00:14:03,928
motivation to win at all costs
it comes from the very mind
572
00:13:20,648 --> 00:13:24,448
delayed returns but this is a
problem because your brain was
573
00:13:13,688 --> 00:13:17,368
evolving for one type of
environment, immediate returns
574
00:08:10,728 --> 00:08:13,808
that that 1000 pounds is
going to be snatched and taken
575
00:08:03,848 --> 00:08:06,488
longer hoping that that 1, 000
pounds is going to turn into
576
00:08:39,788 --> 00:08:43,828
on and on with the rest of
these common examples but these
577
00:08:52,668 --> 00:08:56,708
all costs. The real problem is
that avoiding those perceived
578
00:12:56,568 --> 00:12:59,568
personal computer, and the
internet. Nearly everything
579
00:08:25,888 --> 00:08:28,548
going to turn around. And if
you want to have a fighting
580
00:08:19,928 --> 00:08:22,848
if this position turn around?
You're not fearful that that
581
00:07:49,768 --> 00:07:53,528
want to jinx it. People are
fearful when they should be
582
00:12:49,928 --> 00:12:53,848
compared to prehistoric times.
In the last 100 years, we've
583
00:08:34,588 --> 00:08:39,788
then you need to turn this
around. You know, I could carry
584
00:08:28,548 --> 00:08:31,188
chance of making money in the
markets. Making the markets a
585
00:07:31,848 --> 00:07:35,528
Because the person who has lost
1, 000 is far more likely to
586
00:08:00,408 --> 00:08:03,848
position that is making you
that 1000 pounds. You are no
587
00:08:17,568 --> 00:08:19,928
likely going to sit there
thinking wouldn't it be great
588
00:07:57,488 --> 00:08:00,408
do I mean by that? Well again,
imagine you are sat in a
589
00:07:13,008 --> 00:07:17,208
could disappear. Now, let me
ask you a different question.
590
00:07:53,528 --> 00:07:57,488
hopeful. And people are hopeful
they should be fearful. So what
591
00:06:29,268 --> 00:06:32,428
old and its primary function is
to keep you alive at all costs
592
00:08:06,488 --> 00:08:10,728
2000 pounds or 3thousand
pounds. Nope. You are fearful
593
00:07:03,088 --> 00:07:06,768
that? Well, because I want to
take it easy now. Nope, you
594
00:06:55,888 --> 00:06:59,408
that the market is going to
take back some of your profits.
595
00:06:43,028 --> 00:06:46,228
pain, your lower animal-minded
brain. So, it doesn't matter
596
00:07:10,248 --> 00:07:13,008
pounds for the day and god
forbid that those 500 pounds
597
00:07:20,528 --> 00:07:25,048
losing 1000 for the day. Which
one of in that situation is
598
00:06:59,408 --> 00:07:03,088
I am winning so I'm reducing my
position size. Why would you do
599
00:06:49,068 --> 00:06:51,908
hey, you can't go broke by
taking a profit but this is
600
00:07:25,048 --> 00:07:28,128
most likely to carry on
trading. The person who has
601
00:06:37,868 --> 00:06:40,228
preservation. Now, your state
of mind where everything is
602
00:06:35,268 --> 00:06:37,868
pain. It wants to make sure
that you maintain your ego
603
00:05:01,268 --> 00:05:05,548
extremely insightful findings
in the data. Now, remember that
604
00:07:17,208 --> 00:07:20,528
Imagine that you made 1000
pounds on the day versus you
605
00:05:29,528 --> 00:05:34,288
not bad whatsoever. So, what's
going on here? Well, the
606
00:07:44,288 --> 00:07:47,288
do anything to protect that and
hold onto that. Because that
607
00:06:03,688 --> 00:06:06,848
that is an extremely
significant sample size that is
608
00:06:15,008 --> 00:06:19,288
losses run why am I doing that
what am I telling myself well
609
00:06:40,228 --> 00:06:43,028
nice and rosy and good so
you'll do anything to avoid
610
00:07:35,528 --> 00:07:38,208
carry on trading because God
forbid he carries that pain
611
00:06:32,428 --> 00:06:35,268
and I would love to make sure
that you never experience any
612
00:05:49,808 --> 00:05:53,008
just a section of my trades or
your trades you could say oh
613
00:05:46,248 --> 00:05:49,808
they gained on their winning
trades. Now, you know, this was
614
00:06:21,948 --> 00:06:25,788
turn around in my favor but the
real reason is I would like to
615
00:06:19,288 --> 00:06:21,948
I'm telling myself of that I
hope this market is going to
616
00:06:51,908 --> 00:06:55,888
still you avoiding pain. Why?
Well because you hate the idea
617
00:05:17,048 --> 00:05:20,248
actually 62% of the trades were
winners. There were a
618
00:07:47,288 --> 00:07:49,768
feels so good to have made one
thousand pounds. So I don't
619
00:07:28,128 --> 00:07:31,848
made 1000 pounds or the person
who has lost 1000 pounds.
620
00:05:20,248 --> 00:05:22,888
significantly more amount of
winning trades than losing
621
00:05:34,288 --> 00:05:37,888
problem is is that when they
won, on average, they gained
622
00:06:25,788 --> 00:06:29,268
avoid pain. We have a brain
that is at least 200, 000 years
623
00:06:46,228 --> 00:06:49,068
what scenario I throw at you.
I'm taking my profits because
624
00:07:41,248 --> 00:07:44,288
of that pain. But when he's
made one thousand pounds he'll
625
00:05:53,008 --> 00:05:55,968
well maybe it was just a bad
week or a bad month but when
626
00:05:10,068 --> 00:05:13,868
trades, what percentage of
those trades do you think were
627
00:04:57,828 --> 00:05:01,268
million trades over a 15 month
period and he found some
628
00:05:22,888 --> 00:05:26,328
trades. Yep, the FXCM traders
were good traders it would
629
00:06:00,288 --> 00:06:03,688
you can see their behaviour
that is not simply bad luck
630
00:05:26,328 --> 00:05:29,528
seem. They had a good strike
rate of 62 percent and that is
631
00:07:06,768 --> 00:07:10,248
want to avoid pain. You can't
bear the fact that you made 500
632
00:05:13,868 --> 00:05:17,048
winning trades? Well, it may
surprise you to see that
633
00:07:38,208 --> 00:07:41,248
with him on into the night and
he will do anything to get rid
634
00:06:11,648 --> 00:06:15,008
on that is resulting in those
statistics I'm letting my
635
00:05:55,968 --> 00:06:00,288
you look at 25, 000 people
across 43 million trades and
636
00:06:06,848 --> 00:06:11,648
worthy of investigation so what
is the normal behaviour going
637
00:05:37,888 --> 00:05:42,448
forty-eight pips but when they
lost, they lost 82 pips.
638
00:05:05,548 --> 00:05:10,068
over 70% of FXCM's clients lose
money. Out of those 43 million
639
00:05:42,448 --> 00:05:46,248
Traders lost over 70% more pips
on their losing trades than
640
00:04:37,728 --> 00:04:41,368
that, first we must understand,
what does normal trading look
641
00:04:53,108 --> 00:04:57,828
he looked at 25, 000 traders
who executed a total of 43
642
00:03:49,808 --> 00:03:52,928
make money and I'm about to
prove that to you in a second.
643
00:04:12,968 --> 00:04:16,368
society who hold down jobs just
as well as everyone else does
644
00:04:02,768 --> 00:04:06,848
Because if 70 to 80% of people
are losing money, then I think
645
00:03:45,928 --> 00:03:49,808
trade as trading should be
done. You know, normal does not
646
00:03:39,408 --> 00:03:42,688
to me but the sooner that I
accept that the nature of
647
00:04:41,368 --> 00:04:45,248
like? How does a normal person
think? Well, in two thousand
648
00:04:19,448 --> 00:04:22,568
children, you know etcetera
etcetera but they can't trade
649
00:03:26,288 --> 00:03:29,248
of their winning and losing
stats on their websites but it
650
00:03:03,148 --> 00:03:08,908
nature of trading. You see if
there are 100 people and 75 of
651
00:03:15,808 --> 00:03:19,048
problem and the sooner that you
accept it's a human problem the
652
00:04:45,248 --> 00:04:49,148
and fifteen, a quantitative
called David Rodriguez. He
653
00:03:42,688 --> 00:03:45,928
trading is basically random
then the sooner I can into
654
00:03:08,908 --> 00:03:12,028
them are losing as it shows on
the broker websites then this
655
00:04:34,528 --> 00:04:37,728
differently? Well, to
understand and deconstruct
656
00:03:55,768 --> 00:03:58,728
well in this business long
term. You need to have a very
657
00:04:22,568 --> 00:04:27,728
for **** Why? Why is that?
Because they simply think like
658
00:03:58,728 --> 00:04:02,768
special relationship with both
losing and with winning.
659
00:04:09,808 --> 00:04:12,968
normal, perfectly rational,
well-functioning people within
660
00:04:27,728 --> 00:04:30,848
everyone else does. They
haven't learnt how to deal with
661
00:03:34,368 --> 00:03:36,888
people think well you know this
stat doesn't apply to me
662
00:03:29,248 --> 00:03:34,368
hasn't why because people know
it people are aware of it but
663
00:04:49,148 --> 00:04:53,108
analyzed trading data from the
popular retail broker FXCM and
664
00:03:23,888 --> 00:03:26,288
industry when all of the
brokers had to put you know all
665
00:04:16,368 --> 00:04:19,448
are intelligent whilst pay
their taxes, look after their
666
00:04:30,848 --> 00:04:34,528
fear. So what are the winning
20 percent of traders doing
667
00:03:21,808 --> 00:03:23,888
it was probably going to be the
end of the retail effects
668
00:03:00,348 --> 00:03:03,148
a favour in a sense because
they have highlighted the true
669
00:03:36,888 --> 00:03:39,408
anymore than the warnings on
the cigarette packages applied
670
00:04:06,848 --> 00:04:09,808
it's pretty safe to assume that
70 to 80percent of people are
671
00:03:52,928 --> 00:03:55,768
You cannot have a standard
attitude about money and do
672
00:03:19,048 --> 00:03:21,808
sooner you can do something
about it you know I did think
673
00:03:12,028 --> 00:03:15,808
is no longer a technical
analysis issue. This is a huge
674
00:02:12,668 --> 00:02:15,868
completely normal by the way
but of course our goal is to
675
00:02:38,708 --> 00:02:41,588
losing money now little bit
like the cigarette companies
676
00:02:51,268 --> 00:02:53,948
didn't stop people from smoking
and it certainly hasn't stopped
677
00:02:03,708 --> 00:02:06,788
find that there is a bit of a
gap from your life performance
678
00:02:32,588 --> 00:02:35,588
actually required by law to
show up on top of the front of
679
00:02:56,948 --> 00:03:00,348
skyrocketed in the last few
years Esma has actually done us
680
00:02:30,108 --> 00:02:32,588
brokers operating in the
European Union they are
681
00:02:44,508 --> 00:02:47,548
showing photos of people on you
know their hospital beds with
682
00:02:35,588 --> 00:02:38,708
the homepage and their websites
how many of their clients are
683
00:02:15,868 --> 00:02:19,628
try and minimize that
discrepancy as much as possible
684
00:02:19,628 --> 00:02:22,588
but what's actually going on
here what is causing that
685
00:02:41,588 --> 00:02:44,508
being forced to put warnings on
the cigarette packages and
686
00:01:57,428 --> 00:01:59,988
high as you'd found from when
you tested your trading plan
687
00:02:26,668 --> 00:02:30,108
since the establishment of the
rules by Esmo in 2018 all
688
00:02:09,588 --> 00:02:12,668
were to trade it perfectly and
if this happens this is
689
00:02:53,948 --> 00:02:56,948
the interest for retail trading
in fact demand has actually
690
00:02:47,548 --> 00:02:51,268
all types of cancers and
horrible diseases yet that
691
00:01:42,548 --> 00:01:47,348
you a proven edge in the market
now once you start trading it
692
00:01:50,308 --> 00:01:54,148
live market with real capital
on the line what you might find
693
00:02:22,588 --> 00:02:26,668
performance discrepancy and how
can we close that gap well
694
00:01:54,148 --> 00:01:57,428
is that your actual performance
and results are not quite as
695
00:02:06,788 --> 00:02:09,588
compared to what the actual
strategy is providing if you
696
00:01:59,988 --> 00:02:03,708
and you saw the potential that
your strategy holds now you may
697
00:01:47,348 --> 00:01:50,308
potentially even on demo but
especially when you're in the
698
00:01:15,248 --> 00:01:18,568
technical skill set with this
strategy and then once you have
699
00:01:24,128 --> 00:01:27,408
building case studies through
back testing forward testing
700
00:01:18,568 --> 00:01:21,608
created your trade plan you
will prove the profitable edge
701
00:01:21,608 --> 00:01:24,128
that your strategy holds and
you will prove this through
702
00:01:39,268 --> 00:01:42,548
that you are in command of a
profitable strategy that gives
703
00:01:12,048 --> 00:01:15,248
will then spend time performing
exercises to develop your
704
00:01:27,408 --> 00:01:30,768
through trading on a demo
account and before finally
705
00:00:51,788 --> 00:00:55,268
out, successful training is
actually the complete opposite.
706
00:01:08,488 --> 00:01:12,048
learn the photon strategy and
our approach to the market you
707
00:00:59,828 --> 00:01:03,068
be on developing and mastering
your strategy. So that's why
708
00:01:30,768 --> 00:01:35,468
trading it in the live market
so that you know 100%
709
00:01:35,468 --> 00:01:39,268
certainty, you know with every
bone and fiber in your body
710
00:00:55,268 --> 00:00:59,828
It's 90% strategy and 10%
psychology. Your focus should
711
00:01:05,928 --> 00:01:08,488
you will watch the technical
analysis module and you will
712
00:01:03,068 --> 00:01:05,928
the all of the teachings in
this course is designed so that
713
00:00:48,148 --> 00:00:51,788
lose money over the long term.
Therefore, I think as you start
714
00:00:45,628 --> 00:00:48,148
command of a profitable
strategy, you're still going to
715
00:00:39,548 --> 00:00:42,548
plan is **** and it's not
profitable, it doesn't matter
716
00:00:35,908 --> 00:00:39,548
strategy does not have a proven
profitable edge, your training
717
00:00:32,708 --> 00:00:35,908
That's great. You know, it
really is but if your training
718
00:00:22,808 --> 00:00:25,368
psychology in the world. You
are fortunate enough to be born
719
00:00:28,448 --> 00:00:32,708
suited to the uncertain world
trading. Well, good for you.
720
00:00:42,548 --> 00:00:45,628
how good your psychology might
be because if you are not in
721
00:00:19,768 --> 00:00:22,808
second that you have the most
amazing bulletproof trading
722
00:00:25,368 --> 00:00:28,448
with a brain and a mindset that
was perfectly designed and
723
00:00:13,888 --> 00:00:17,048
you know, some similar version
of that but I actually have a
724
00:00:17,048 --> 00:00:19,768
bit of a different view on this
because let's imagine for a
725
00:00:06,888 --> 00:00:09,488
world of trading, then you've
probably heard people say that
726
00:00:09,488 --> 00:00:13,888
successful trading is only 10%
strategy and 90% psychology or
727
00:00:00,268 --> 00:00:04,448
Are you destined to fail at
trading? Unless you've been
728
00:00:04,448 --> 00:00:06,888
living under a rock or you're
completely brand new to the
729
00:40:02,168 --> 00:40:05,768
greatest opportunity.
68812
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