Same here, since i have this mindset. The losses are no longer affect my trading psychology. This has become one of my game changer in my trading journey.
Mark Douglas’ books will help immensely on getting in-tune with the mental game of trading. HIGHLY recommend for the ones who are serious about this game.
I think this is the most important aspect to master, this is something i myself struggle with mentally. I always “hope” for something to go the right way, but its never the case
This is so important for new traders to understand. You have to have a dollar amount that you are okay with losing on each trade if it doesn’t work. Because you WILL have losing trades no matter what.
They’re motivating you, influencers have it all and some of them are genuine and just wanna see people also succeed, I see this a lot from Doyle and Fx Alexg
Do you have a video about reading these charts and understanding stop loss or maybe a good book to read? I keep seeing losses and pretty sure I’m reading it wrong
People keep saying emotions play the biggest part of trading, but that's only for noobs, there are soooooo much to learn from technicals, reading the charts, etc. Emotions do play a big part but not as big as learning how to trade.
People think that day trading is about making money but day trading is about not losing money and the ability to lose money and how a person copes with losing trades Losing trades are part of day trading so are Winning trades but not every trade is a Winning trade and that's ok Just make more than you lose Close a losing trade as soon as the trade loses more than you have the ability to trade back etc eg if you cannot make a +10% Winning day trade etc don’t let a losing trade lose more than -10% etc Whereas if you can make a +40% trade you won't be phased by a -40% trade because you have the confidence in your ability to trade profitability etc which allows a day trader to trade any stock in any market condition etc
Before I get into a trade I make a prediction. I tell myself 'I predict the price will reach here before it comes down to there.' This reminds me to set my stop loss. I use physical stop losses because for me it's so much less stressful. 1:1 profit ratio is my minimum. I prefer 2:1.
In a nutshell Umar is implying: _"It's better to lose because you know what you have done wrong, than to win and not know why you did."_ When you read the market and can see where it's going, it's poetry in motion. When you're not, you're scratching your head and asking why.
yeah , the ones who dont take the time to learn about price action and trade by sucking thier thumb looking at pretty screen "indicators" guessing each entry/exit rather than using a clear definded set of rules they understand 100%. Most "traders" are looking for a magic indicator that they think will make them rich by doing nothing of value themselves. Those aree the ones who end up looking for the next hustle every 2 weeks each time they discover making money is a skill you have to put the time in to learn and cant be short cut.
For every trade, I have to say: "I believe that the price is going to #TP#, because #all my reasons#. This theory will be definitively invalidated if the price goes to #SL#."
Novices hold losers n sell winners quick. Pros sell losers quick n add to winners....pros know disciplined risk management. ..its as simple as that. GLTA!!!
Guys I have a question for you, fellow traders: why my paper trading rate is 100% win , 95% of the time, while my real trading account is a little bit less profitable? I wanna say 60%,65% winning trade. Is it possible that because there are not real consequences, there is not fear of loosing therefore I let my trade take its course to the ends of my trading plan? Thanks.
I wonder if forex trading is halal. I have perfect strategy, very good alarm system developed in years(more then 16yrs) then I felt sonething wrong. I looked in every source I can, and I saw no one in no muslim country shariah doesnt accept forex as halal way of earning money. Do you have any thoughts on that. I am asking this assuming you are a muslim
He says "i have an edge on the trade" but in another video he says that there is no such strategy and no holy grail.... He probably sells courses that makes him more money than trading........
today is my birthday Feb 8 🎂 can you help me sir 🙏🏻🥺 i want laptop 💻 sir fro froxe trading my family cannot afford any laptop 💻 🥺 can you buy me a laptop
IM GLAD HE TALKS THE LOSSES FIRST. ALWAYS MAMAGE YOUR DOWNSIDE AND THE UPSIDE WILL TAKE CARE OF ITSELF
Nonsense
Exactly. Calculate your losses first, then your profits.
Cutting emotion is key!
It's the hardest
@@User-nz6hl 100% psychology of money!
@@rayBARInvest true. Once you get that confidence. You are gonna make lots of money
Losing fear.
Winning fear.
No. Not cutting, controlling
Yes ! Start with a mentality which implies how much are you ready to lose instead of how much are you ready to win !
That isnt the gem in this short. The gem is that he is figuring out his SL based on when he is wrong, not just when the previous low was breached.
Same here, since i have this mindset. The losses are no longer affect my trading psychology. This has become one of my game changer in my trading journey.
This guy is legit 🔥
Exactly. Calculate your loss first and then the profits. Always put SL first and then TP or you can keep trailing SL.
Don’t follow this kind of advice, just put your SL and TP, let the trade run, as Mark Douglas says, you’re not right or wrong in trading
Sir i love how you break it simple and still make it great you boost up my energy anytime I watch ur video 😌😌🙏
ALWAYS PROTECT YOUR DOWNSIDES!!! 💸
Mark Douglas’ books will help immensely on getting in-tune with the mental game of trading. HIGHLY recommend for the ones who are serious about this game.
Bro ill learn so much of you 😊
Learned so much from you thank you bruhhh
I think this is the most important aspect to master, this is something i myself struggle with mentally. I always “hope” for something to go the right way, but its never the case
Spot on
Thanks for ur wise words and guidance. Thank you
Just straight to the point...how you enter the trade..when and how you make profit. What is your strategy to trade. That all we want to know.
Good advice. Better advice would be to use software that allows you to set a stop-loss when you take the trade
So wise...is easy to say, but execute is extremely challenging...
Self control is lacking if you think this
Thank you❤❤❤
This is so important for new traders to understand. You have to have a dollar amount that you are okay with losing on each trade if it doesn’t work. Because you WILL have losing trades no matter what.
I hate how influencers always lie about trading, just so they can give you hope so you can keep losing money. And that’s why 90% of all traders lose.
They’re motivating you, influencers have it all and some of them are genuine and just wanna see people also succeed, I see this a lot from Doyle and Fx Alexg
Do you have a video about reading these charts and understanding stop loss or maybe a good book to read? I keep seeing losses and pretty sure I’m reading it wrong
The last part is following through and not pushing the up the mental stop loss.
People keep saying emotions play the biggest part of trading, but that's only for noobs, there are soooooo much to learn from technicals, reading the charts, etc. Emotions do play a big part but not as big as learning how to trade.
Market can be faster than a mental stop loss ... Just saw that with the USD/jpy
You shouldn’t put the stop where it fits your „mentality“ more where it should be based on your contract size
People think that day trading is about making money but day trading is about not losing money and the ability to lose money and how a person copes with losing trades
Losing trades are part of day trading so are Winning trades but not every trade is a Winning trade and that's ok
Just make more than you lose
Close a losing trade as soon as the trade loses more than you have the ability to trade back etc eg if you cannot make a +10% Winning day trade etc don’t let a losing trade lose more than -10% etc Whereas if you can make a +40% trade you won't be phased by a -40% trade because you have the confidence in your ability to trade profitability etc which allows a day trader to trade any stock in any market condition etc
You make more sense than some of other
Thank you Umar, you seriously don’t understand how much I mean it.
It really is mentally hard to come to terms with loosing money but it must be done. You win some…. You lose some.
That’s the best advice
bro you was a salesmen in your life at one point that’s how you know how to come of smooth your hood at it
And this is called the right psychology of trading.
Before I get into a trade I make a prediction. I tell myself 'I predict the price will reach here before it comes down to there.' This reminds me to set my stop loss. I use physical stop losses because for me it's so much less stressful. 1:1 profit ratio is my minimum. I prefer 2:1.
The market give no fs about your mental stop loss
Yes it does, sometimes the market stops and turns the other way because I step in
@@mockagony4996 whatever helps you sleep at night
Ty, took me 2yrs on blowing up 2 PDT accts to realize to commit to stops and losses
Great Advice. 👍
Love it❤
Loved how big he draw demand zone
In a nutshell Umar is implying: _"It's better to lose because you know what you have done wrong, than to win and not know why you did."_
When you read the market and can see where it's going, it's poetry in motion. When you're not, you're scratching your head and asking why.
Umar u are the best
I tried that, but then the price touches my stop loss for less than a minute and then takes off to my take profit
Usually if it goes up to 3 pull backs the fourth one is going to be going down.
Good info
Do you have a strategy video!?
My guy 💯
Pocket Option has no "stop loss", 😂😆🙄🤣🙄😊😆😂🤣
Mentel stop loss is my problem 😢
Same here!
To get to that point where you know you are wrong needs understanding of
1 your set up
2 knowing market structure
How do I start trading in Canada? Also what trading do you do? Stocks or options or something else?
Hedging is better the stop loss
Wish everyone would know what i have learned.
Its about fear.
Someone explain to me plz how to manage your emotions during a trade thank you !
Ur the guy from naz trading right ?
Alhamdulillah.
if you know you’ll be wrong why not just put a sell limit order then 😂
few can handle this!
Would love to learn from him, what she said seems real and legit. But looking at his videos, there’s nothing about him taking a lost.
How to calculate the fee? Like how it becomes big if the leverage is high
protect your down side
If we take care of loses, the profits come soon or later
Which is this trading platform
Trading is a bad idea unless you're a professional. Buy and hold. Win some, lose some and over time you'll come out ahead. Most traders get rekt.
yeah , the ones who dont take the time to learn about price action and trade by sucking thier thumb looking at pretty screen "indicators" guessing each entry/exit rather than using a clear definded set of rules they understand 100%. Most "traders" are looking for a magic indicator that they think will make them rich by doing nothing of value themselves. Those aree the ones who end up looking for the next hustle every 2 weeks each time they discover making money is a skill you have to put the time in to learn and cant be short cut.
which peltfrom u'r trading bro
I trained my own AI model and do absolutely nothing but let it run
For every trade, I have to say: "I believe that the price is going to #TP#, because #all my reasons#. This theory will be definitively invalidated if the price goes to #SL#."
Novices hold losers n sell winners quick. Pros sell losers quick n add to winners....pros know disciplined risk management. ..its as simple as that. GLTA!!!
Guys I have a question for you, fellow traders: why my paper trading rate is 100% win , 95% of the time, while my real trading account is a little bit less profitable? I wanna say 60%,65% winning trade. Is it possible that because there are not real consequences, there is not fear of loosing therefore I let my trade take its course to the ends of my trading plan? Thanks.
❤
Solid
What do you think about turning off pnl
He is an actor
Where is the full videos
Golden😊
Which Broker do you use to trade?
??? Isn't this obvious? Do people really go into trades with the mindset that they'll potentially not lose anything
You entry matters
My mind is getting better and better as I approach the market after I've lessoned to you bro, Forex Mental Health
Why would you take the loose if you can just wait and maybe you will break even at least
❤❤
If you're wrong blame the cameraman on your pc
I wonder if forex trading is halal. I have perfect strategy, very good alarm system developed in years(more then 16yrs) then I felt sonething wrong. I looked in every source I can, and I saw no one in no muslim country shariah doesnt accept forex as halal way of earning money. Do you have any thoughts on that. I am asking this assuming you are a muslim
10000000000000000000%
Accept the risk
Why are you not using EA
He says "i have an edge on the trade" but in another video he says that there is no such strategy and no holy grail.... He probably sells courses that makes him more money than trading........
Halal or haram ?
I think he earned all money through youtube he never trade or just luck he earned in one trade speaking too much
or just put a stop loss???????? lmao
Its cool.. im okay with losing 15k.. 😂😂 sure pal, sure.
How about not lose
why a mental stoploss and not a real one ?
Sir help 😢
today is my birthday Feb 8 🎂 can you help me sir 🙏🏻🥺 i want laptop 💻 sir fro froxe trading my family cannot afford any laptop 💻 🥺 can you buy me a laptop
Bro I don’t believe you take any trades. Accept it, you’re a TH-camr, not a trader.
Don believe the hype. He relies heavily on macd. Just stick to macd
Great👍👍
1+1 is 2, WOW right...