The Psychology Behind Great Trading Performance: Winning Trader Psychology
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- เผยแพร่เมื่อ 25 ก.ค. 2024
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Charlie Burton, trader and educator talks to use about trading psychology and trading techniques. PLEASE LIKE AND SHARE so we can bring you more! Most people can learn the technicals but learning the mindset is more difficult and there's no substitute for experience in this area. You can teach people these mindset tricks but it is still going to take them to actually develop it themselves. Not taking profits goes against our most basic instinct. A lot of traders are trying to automate trading so that they can remove the psychological pressure of having to be disciplined and be there to execute trades. Many traders are looking for an easy way out.
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"You've got to do the opposite of whatever your immediate instinct is"... so true!
Some people may be watching this and think "This only applies to those who want to trade fulltime and for a living, I'm only doing this casually". Yet think about it, you are entering an arena against those who have committed their entire lives to trading, sacrificed almost everything. But, a lot of those people can be very emotional and do make mistakes based on emotions.....mainly fear. So in a way, understanding trading psychology and mindset can be your greatest edge in the markets. You may think that you're only risking your money when you're putting on a trade.....but you may be risking a lot more than that.
One ive seen to be helpful is not repeating in your head "How much (if i am right) can i make on this trade. But repeating "How much (if I am wrong) will i lose on this trade
Embrace rejection. Very good. Execute the trade. Dump it fast if it goes against you. On to the next
Yeah I like to last point he mentioned. Whenever you're in a winning trade, all of a sudden you see a lot of factors that tells you to close the position as quickly as possible. Because watching it as unrealized gains, makes you uncomfortable. And you just throw of all the strategies and the pre planning that has been done before which you think isn't gonna work. And that happens to be the case for me most of the time. But I get it. I understand now
Wow.. Charlie is one of the greatest communicators I've ever seen.. Not just the eloquence but the overall presence as well.. Superb!
Amazing that this guy can actually sit in front of the screen for tens of thousands of hours in his life all by himself with his natural gift of interacting with others.
7:30 that advice is gold for me
Excellent point about reminding yourself of the broader, higher time-frame analysis.
That's true it's a mind game .At the end its all experience, and maintaining a balance , speaking on the point about counter-intuitive .
So let's look at this example.
You should put a stop loss --- Stop loss are meant to destroy small traders , they know where you are putting you're stop loss .
You should run away with small profits ---You should maximize you're profit let it go higher and minimize the loss .
All this points are right, but we have to see things fro a wide angle.
There are many examples like this , please do not watch a something and then follow blindly understand the context ,the background the idea . It should be seen in a balanced way .
Wow, this is mind blowing! Re-analysing it is for me going forward. Thanks
Good video with some sound advice for all of us traders. Thanks for taking the time to upload.
Losing quickly leads to winning sooner-A.Chill.
thanks for the video and psychology is important to me. I am a new trader who is still learning in the NFC community.
In TRADING > " COST OF DOING BUSINESS " is a better term than " REJECTION " ... which has a NEGATIVE connotation
That's such an interesting video. Thanks for sharing this with us.
Fantastic, thank you very much Sir for this enlightenment
Well said Charlie!
Excellent learning from this video and specially at 07:30. Thanks
This guy's great.
Great interview!
4:45 i will remember...
If you learn to dollar cost average you can turn losers into winners and eliminate the fear of being wrong. Confident traders know how they will get out before getting in.
The arresting mechanism has caused me to freeze on very lucrative trades. I can't do that anymore. I have to stop over analyzing.
My biggest issue is missing out on trades. I can handle a few losses in a row, but when I come home and find that I missed out on a beautiful set up because was at work I get pretty pissed.
nice
Handsome Charlie 😋😜!!!
Just take the trade traders !
More long questions than answers .... Let him speak .. we know you are good interviewer
Can you apply forex psychology to roulette regards Hayden
Hayden Harris casinos have the edge in roulette
bradpit trading
Good 😢
Collective cluelessness, marvellous !
TY
Lol they mentioned sun tan to trigger the thought of vacation and easy street compared to your cubical life
1 trade in the line of 1000 trades. It is true, but do people really need to hear this? People will have to come to that thought anyway one should believe.
This is basic basic stuff. How about letting some goodies out of the bag?
Stupid game to generate money for the banks..
damn hes hot