“Im not gonna attempt to show you how to trade. Im gonna teach you how to think.” Coldest open ever! My favorite speech. Listen to it every week before starting the trading week..
One of the greatest talks about trading ever! I wish every new trader listen to this first before anything else because it is essential to develop good trading habits at the beginning. Forget about technical analysis. Learn from Tom Hougaard and Mark Douglas. Develop the right mindset first. Thank you Tom for the information, you are a very charismatic speaker!
Babis Fortomas, thank you so much for your kind words. I hope you at some point can see Tom Hougaard live on stage. He just has SO much energy. When you have the time I'm pretty sure you will find value in some of the other Psychology videos on the playlist: th-cam.com/play/PLTIUSbN_V17W-c4gClZkfvnVT1bMDy5k6.html
Congratulations 🎉 I am on a demo account still and I know I have a lot to learn when I will start risking money. But I started to add to my winners and let the profits run and the difference is huge. I've never had problems with cutting losses. My problem is having a stop loss that is too tight. But I hope I can replicate this on a small account and then build from there
@@margaridamdlas you go, begin making a system out of what works for you… and I mean a system in the literal sense: write it down, screenshot it, quantify it, and so on… don’t rush, just little by little, step by step, over time… from everything having to do with risk management to everything having to do with your psychology, thought patterns, and reactions and so on… build upwards little by little but don’t skip this thinking that everything will magically come by merely thinking about it. It is by no accident that the word “strategy” is constantly tossed around the trading world… this stuff you systemize will become your “strategy”… you want to know what setups work, what ones don’t work, you want to know the win rate of each setup, what risk to take (size, R:R, etc), and so on… don’t expect this to come overnight but just go slow and thoroughly through it, day by day building it up. Journal a lot about your observations of yourself and how you show up to trade every day and so on.
Simply astonishing presentation....this guys level of thinking is far above the standard training education garbage we see everywhere.....similarly by understanding the law of large numbers and central limit theorem my trading has reached the stage where I am in the zone because of understanding how math and randomness works and my interpretation of it. But like Tom said I had to really interpret my understanding of fear and discomfort which was a HUGE step in the journey
Thank you so much for your kind words. When you have the time Toms Psychology playlist could be worth seeing: th-cam.com/play/PLTIUSbN_V17W-c4gClZkfvnVT1bMDy5k6.html And perhaps if you can take bad sound and annoying translation the Kiev talk: th-cam.com/video/Tp2FPwpkB50/w-d-xo.html
Tom, I am impressed! This is the third or fourth video I am watching today. Obviously, you know that but to all those who are learning to trade: Tom gives you the essence, the key, to become consistently profitable. The material is deep, comprehensive, honest... simply great stuff. If you are learning to trade or struggling to become profitable, watch it again and again until you get more and more out of it. I have been day-trading for 12 years every day and know what Tom is presenting in his videos can change your trading and your life. In my opinion, learn just a couple (2-4) setups and apply the money management techniques and psychology he is talking about with discipline and you will increase your chance to make a living trading stocks, ETFs, futures, or options (do not know about FOREX, because after a couple of attempts on a demo account, I did not think it resonated with me). Tom, you have motivated me to get rid of a few of bad habits (such as trading momentum right on the open, or sometimes holding on to losing day trades overnight) that I still apply and stick to my setups and plans. Excellent. Thank you!
Tom, I don’t know what should be the size of my thanks to you, maybe the whole universe. Was watching this video a while ago, thinking, tried to change my trading style, nock on wood, it worked! One of the things - to increase the position when it’s profitable, maybe another - no more technical analysis. Yes yes yes!!! All the best to you!!!
What i have gained from this seminar! Just go with it, let the market do it's thing. Let's say you put in for a position whatever that may be!? Go into the trade already accepting that this is what you are willing to lose. On the flip side, don't even consider what you could gain or when to get out of the market, leave the market to show you. Set a T/P if you must but just let the market hit it, if it does great if it doesn't so be it! Work within the funds you have but allow it!
Hi SMURFINGAMING , I think you got it. When you have initiated a trade you should accept the risk (stop loss) and wait for the profit target to be met. However, some times close is close enough to take a profit.
Well I just got a wake up call and to be honest this guy is 100% correct just think about it if you've been resolved that you don't want to achieve for the last 6 to 8 months in trading then you got to figure out your mind break down your mind and think different
@@LennieClausen_dk Yes Lennie I did. Great keep them coming.learnt a lot , have been following Tom since 2008 crisis. when he was at City Index. Like to know what he has to say about this sell off we are being today.
@@markroberts2378 Tom had a talk on Larry Pesavento show 18th Feb. where he called the top. The video was shared in the telegram group. It will be uploaded on youtube - but as an educational video
This is brilliant. Thank you. Is there anywhere where we can learn more about how to build up a position? I’ve been trying in my back tests but probably would benefit from a few pointers as currently I haven’t been able to convince myself on the best way to manage it
@@masterofus3098 Part 2: th-cam.com/video/sg_OTc0lRko/w-d-xo.html Part 3: th-cam.com/video/8_ApSnc7k2A/w-d-xo.html I think the Psychology playlist might be for you: th-cam.com/play/PLTIUSbN_V17W-c4gClZkfvnVT1bMDy5k6.html Be aware 3 of the videos are in Danish with UK subtitles (you need to turn them on yourself)
This changed my mindset about the mind of a trader, I wised i saw this months ago, well it's never too late.. All I can hear from this presentation is that the right mindset is key to being a successful trader. Your simple yet detailed explanation have made me a lot calmer whenever I trade. I actually bought high and sold higher today; 26th, of August 2021. Thank you very much.. And I actually sent you a message on telegram of how I'd love to join your signal group and hope to hear from you, sir. I believe that i should be listening to you more and more.
Nice talk, electrifying. You literally give me a headache ;) Do you remember finspreads back in 2002-3 and this little window with 5 seconds time to make decision to make the trade or not? It was funny when news came...
Adding to gaining trade- Y is it that many times I do so, it reverses immediately upon adding? Can be actual seconds after a breakout. Appreciate it. Thank you for the awesome content
If you add to a winning trade, it then starts to go the other way, you cut the trade. You should still be in the green because you were up. Don't HoLD losing trades. LOSERS add to Losers - Winners add to winners.
Thank you for your kind words. Did you watch the 2019 talk as well? th-cam.com/video/ozaOAupN5_Q/w-d-xo.html The book should be in bookshops this summer 2020. But with all this coronavirus it could be delayed.
@@nicklas8112, you are welcome. It's weekend if you have more time 15 min spend on this one might be good too. I used to be one of those people in the past - this video made me rethink my trading a few years ago. th-cam.com/video/VUjwD1XZQrs/w-d-xo.html
Do you recommend more of a "set-and-forget" mindset or "active management" stratgey such as scaling in and actively stacking when the trade is going in your direction?
@@ahem7553 I would like to give you a more in-deep answer than I can give you right now. It is a good question and deserves a good answer. In the meantime, Tom talks about adding to the winners in this video. th-cam.com/video/FEOeFnN3pdM/w-d-xo.html
@@ahem7553 that's why I need some time. I see so many ways to answer your question. And the word coming to my mind is it depends.... if this add if this do not add. As said it's a good question and I know exactly what you want to hear. But it's very tough to answer here. Perhaps I can ask Tom to do a full video on that subject.
I’m hoping his hate for TA is just because he feels that a BASIC amount of TA (price action, trend lines) is enough. I 100% that psychology wont influence the market but it WILL influence whether or not you make money off of it. TA is definitely legit though. It’s worked for me consistently when the psychology/self discipline is applied WITH it :D
Hi Steven, Tom is not against TA. But he is against when people put way too many indicators on their charts. You can see him explain it here: th-cam.com/video/VUjwD1XZQrs/w-d-xo.html
You would need to take profit at some point, you cant just let every trade in profit run for a decade or whatever? It will eventually hit your SL. Thats just roundtripping and it never works out.
@@echochambers4165 okay but that will cause you to get thrown out a lot as well and if you just let it run it will go to breakeven 99% of the time and 1% it will hit your risk SL 😂
@@echochambers4165 trading is just so dumb the only people making money from it are trading gurus selling courses and brokers 😂🤦♂️ Its the hardest way to make easy currency
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH. stock,silver and gold)
When it comes to Trade, I can confidently say that bitcoin is the best option. But most people think it's all about buying and leaving it to rise but It takes a lot more you need to trade it to earn daily.
I'm watching this a 2nd time because this lecture corrected my trading and now I trade without fear, adding to winners, with reasonable confidence, looking for reasons I might be wrong will concentrating on wins and cutting losers. As of now I'm at 54% annualized and my highest trade was 190% annualized. I look forward to see what lessons are here that I may have missed when I was less well formed.
Darth Trader, That is so great to hear. GOOD JOB 👍 Many of the videos here are rather long. So watching them a 2nd or 3rd time isn't stupid at all. When you watch them 2nd time you have already built on your knowledge and therefore have a better chance to get missed info.
I don’t know how to communicate with you in one by one, but I am requesting you from my bottom of my heart. Please come back on a daily basis. You are just God gifted for us because we are live in far from you. I live in India, which is I think the most far from you and I appreciate really, really, really appreciate your work very, very much, your kindness, God will bless you very, very much. Please come back and update and share your life trading life for us who really appreciate you. Please come back in this world. No one have that courage that you have. No one have that mentality that you have. I am very blessed to have you, please, not let go like this. Grab our hand. Please come back.❤
Simply a priceless talk into true nature of the trading game. I vividly remember the first time I watched it. After a couple of years, desperately searching everywhere for the sceret of making money out of the market, going through the first 10 min of this wonderful talk, I just realized I found the right way! Now, I watch it almost every sunday evening to get mentally prepared for the upcoming trading week.
Great video Tom. You're one of the best traders in the world, because you THINK DIFFERENTLY TO THE LOSING 90%. We,as traders lose, because we get in the way OF OUR OWN POTENTIAL!! The late GREAT Mark Douglas, use to say YOU DON'T need to know what the Markets going to do , to make a winning trade. ( that never made sense to me - until I went inwards ( my mind being the problem) Follow a process - Rinse and repeat........Over and Over again!!!
I remember when I first started trading MES futures. My best day was when I added to my positions as I was winning. The market happened to be trending up the whole day. The next day It was on a downtrend, and I added to my position as the market was dropping. That was my worst day.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The US-Stock Mrkt had been on it’s longest bull-run in history, so the mass hysteria and panic is relatable considering we’re not accustomed to such troubled mrkts, but there are avenues lurking around if you know where to look. My wife and I are retiring this year with over $7,000,000 in tax deferred investments. up until 3 years ago we were 100% in the S&P. During bear markets we had a perfect plan. We got an investment manager in our corner and didn’t look at our portfolio for nearly a year.
this is pure gold ..what I like is how he addresses how its not perfect and how he points out even the professionals are not perfect gives me hope that I can learn and become a better trader
Best best best. ❤️ ❤️ ❤️ Now you're my second favourite person in psychology of trading. 🙏 First one is Mr. Mark Douglas 🦋❤️ Thank You So Much For This Amazing Beautiful Fantastic Powerful Outstanding Gift To Me. 🙏 You're amazing, you're awesome, thank you thank you thank you. 🙏
The only person that can give you confidence is yourself, and the only true confidence is the one derived from actual results. Good luck my trader friend.
March 5th 2020 then a week later the stock market crash due to covid. I can wished i had gone back in time to start learning how to trade 3 year or i can devote my entire soul existence to learning it now
Jesus I really needed this lecture and. The words from David Paul after blowing up my account making the exact mistakes shared in the video, thank you so much
You are a great trader! I like how you talk about the psychological make up of a good trader because to me that's everything in trading. Honestly that's what makes you my favorite female trader on TH-cam and could honestly consider you the best because you do this on multiple broker platforms. Thank You for the value you give!
Wow! What a GREAT STUFF presented from an absolutely GREAT BUDDY! Awesome! "I think you know me?! How do you know how I already think while my daily seccions?!" ;-) My human nature is quite hard to crack... but I´m already on it... I think I´m not alone... Keep on producing great stuff. Thank you! Thank you! Thank you! Greetings from Austria
Thank you so much 👍. Don't forget par 2 and 3 😉 London Talk 2019 isn't stupid at all when you have the time. @Manuel Kiss The Kiev Talk has a very annoying translation. But if you can live with that Tom Hougaard have some very good points in that one he hasn't share anywhere else.
Tom I wanna thank you so much for uploading your seminar for free on TH-cam. It helped me a lot on my journey. And I hope other traders will also get enormous benefit from it
Absolutely astoundingly excellent presentation, Tom. Thank you very much! I have seen tons of lectures etc on trading, but none is so eye-opening as yours ! Thank you very much.
@@LennieClausen_dk Yes I've seen them all, even Tom's other conferences & scalping videos: absolutely original Psychological approach, really really useful advice, and yet I've studied markets as a pro and personal hobby for 20 years.. Thank you very much !
Thank you 🙏 and your first step is to realize you (like most of us fight with your inner devil) have this issue. I think you will find helpful content at Toms Psychology playlist.
If adding to winning positions were an absolute virtue, then no one would ever take profits. I accept that traders tend to take profits too early, and that that tendency is rooted in the desire to mitigate pain, but this presentation leaves the audience to guess when profits are ripe for taking.
Oh god, I watched a lot, a lot and a lot videos about trading on TH-cam, but this one clear the fog why trading is so hard. Your voice pressed the thing damn good. Thank you Tom.
“Pressing the position” big enough. That’s fine if you have a ton of money of lose. What about those who don’t ? So, therefore, I will continue being cautious and not too greedy. I know that’s likely frowned upon to Tom and his followers. However, it’s what works for me and helps me be part of that small percentage of traders who make money. Either way, good speech!
I traded a $3 account to $210 in 3 days of trading taking only 6 trades. My draw downs were almost non existent to very short lived. My trades were pretty much going in to profit almost instantly. How ever on 4th day of trading i took a losing trade of $5, so i stopped trading then i had a inner urge to take another trade, then another loss and another then within 4 hours the account was to $0. So next time i started with $600 and grew i to $4000 again with ease and swiftly. Then one day i blew the account within 3 hours same cycle as before. Then i have started with $50 in 2 days i turned it to $337 then again blew it. Then i started buying courses thinking i need to learn more. I am now so glad i found this i will now look in to my own emotions and thinking. If i can fix my thinking and control my emotions i will transform my life
Man i started cracking up around 36 mins. This is the first video i have seen of yours and its full of gold. A member from babypips recommended you're channel and i am really glad i checked it out.
Thank you for your nice words, Will. It is always nice when traders help traders finding quality content 👍 I hope you find more videos you like on this channel.
@Trader Tom Great talk! I heard you mention that people don't run their winners and put stops to break-even too quickly sometimes. Question please: you set your stop to B/E and close positions sometimes early during your uploaded live trading session. Is that because of scalping or did you change your philosophy in that topic? (and to what benefit) thanks- can't wait for the book to come out.
![Math for Game Devs [2022, part 1] • Numbers, Vectors & Dot Product](/img/n.gif)
“Im not gonna attempt to show you how to trade. Im gonna teach you how to think.” Coldest open ever!
My favorite speech. Listen to it every week before starting the trading week..
❤❤❤
One of the greatest talks about trading ever!
I wish every new trader listen to this first before anything else because it is essential to develop good trading habits at the beginning.
Forget about technical analysis. Learn from Tom Hougaard and Mark Douglas. Develop the right mindset first.
Thank you Tom for the information, you are a very charismatic speaker!
Babis Fortomas,
thank you so much for your kind words. I hope you at some point can see Tom Hougaard live on stage. He just has SO much energy. When you have the time I'm pretty sure you will find value in some of the other Psychology videos on the playlist:
th-cam.com/play/PLTIUSbN_V17W-c4gClZkfvnVT1bMDy5k6.html
Every time I watch this again, Iam stunned by how how much good knowledge there is in this talk. This is gold!
absolutely
To understand every word sentence in this video one should have minimum 5 years of trading experience. Listen twice or thrice, this is GOLD
Repetition is the mother of skill.” - Tony Robbins 👍
This was the speech that lead me to becoming profitable. Thank you Tom.
That is great to hear - GOOD JOB!!!
Congratulations 🎉 I am on a demo account still and I know I have a lot to learn when I will start risking money. But I started to add to my winners and let the profits run and the difference is huge. I've never had problems with cutting losses. My problem is having a stop loss that is too tight. But I hope I can replicate this on a small account and then build from there
Yea inspiring to hear emotional trader speak. Not so cold and lifeless. Passionate and daring.
I think my time will come within short , I waited for long time.
@@margaridamdlas you go, begin making a system out of what works for you… and I mean a system in the literal sense: write it down, screenshot it, quantify it, and so on… don’t rush, just little by little, step by step, over time… from everything having to do with risk management to everything having to do with your psychology, thought patterns, and reactions and so on… build upwards little by little but don’t skip this thinking that everything will magically come by merely thinking about it. It is by no accident that the word “strategy” is constantly tossed around the trading world… this stuff you systemize will become your “strategy”… you want to know what setups work, what ones don’t work, you want to know the win rate of each setup, what risk to take (size, R:R, etc), and so on… don’t expect this to come overnight but just go slow and thoroughly through it, day by day building it up. Journal a lot about your observations of yourself and how you show up to trade every day and so on.
"When you are the good trader everything you do hurts" Respect
You get better when you press yourself to the limit. No Sunday golfing 👍
Been trading for over 30 years and just came across Tom. This is superb trading information!
You've changed my life in just a few lectures and webinars on youtube, thankyou for everything
You are welcome - and great to hear.
Excellent point about flipping coins and managing the trade. Said it all.
Simply astonishing presentation....this guys level of thinking is far above the standard training education garbage we see everywhere.....similarly by understanding the law of large numbers and central limit theorem my trading has reached the stage where I am in the zone because of understanding how math and randomness works and my interpretation of it. But like Tom said I had to really interpret my understanding of fear and discomfort which was a HUGE step in the journey
Thank you so much for your kind words. When you have the time Toms Psychology playlist could be worth seeing: th-cam.com/play/PLTIUSbN_V17W-c4gClZkfvnVT1bMDy5k6.html
And perhaps if you can take bad sound and annoying translation the Kiev talk: th-cam.com/video/Tp2FPwpkB50/w-d-xo.html
Tom, I am impressed! This is the third or fourth video I am watching today. Obviously, you know that but to all those who are learning to trade: Tom gives you the essence, the key, to become consistently profitable. The material is deep, comprehensive, honest... simply great stuff. If you are learning to trade or struggling to become profitable, watch it again and again until you get more and more out of it. I have been day-trading for 12 years every day and know what Tom is presenting in his videos can change your trading and your life. In my opinion, learn just a couple (2-4) setups and apply the money management techniques and psychology he is talking about with discipline and you will increase your chance to make a living trading stocks, ETFs, futures, or options (do not know about FOREX, because after a couple of attempts on a demo account, I did not think it resonated with me). Tom, you have motivated me to get rid of a few of bad habits (such as trading momentum right on the open, or sometimes holding on to losing day trades overnight) that I still apply and stick to my setups and plans. Excellent. Thank you!
Thank you so much for the kind words. 👌
Tom, I don’t know what should be the size of my thanks to you, maybe the whole universe. Was watching this video a while ago, thinking, tried to change my trading style, nock on wood, it worked! One of the things - to increase the position when it’s profitable, maybe another - no more technical analysis. Yes yes yes!!! All the best to you!!!
Thank you Olga 🙏
hahahha love this guy. "i don't wana be told i am rubbish at this..... Tom stares dead in the eye: BUT YOU ARE. so true man, so true.
I’m really greatful that i ended up to watching someone whome increased my vision and gived my great ideas and connected the dots for me ,thank you
That is great to hear.
Don't forget part 2 and 3
Letterally, this lecture is life changing. ❤
What i have gained from this seminar! Just go with it, let the market do it's thing. Let's say you put in for a position whatever that may be!? Go into the trade already accepting that this is what you are willing to lose. On the flip side, don't even consider what you could gain or when to get out of the market, leave the market to show you. Set a T/P if you must but just let the market hit it, if it does great if it doesn't so be it! Work within the funds you have but allow it!
Hi SMURFINGAMING
, I think you got it. When you have initiated a trade you should accept the risk (stop loss) and wait for the profit target to be met. However, some times close is close enough to take a profit.
Well I just got a wake up call and to be honest this guy is 100% correct just think about it if you've been resolved that you don't want to achieve for the last 6 to 8 months in trading then you got to figure out your mind break down your mind and think different
Amazing speech!!! Thank you so much!
Thank you 🙏
Don't forget part 2 and 3.
Gobstackingly brilliant presentation. End of. Totally inspiring.
Thank you for the nice words Mervyn Guest
. You can find more related videos here: th-cam.com/play/PLTIUSbN_V17W-c4gClZkfvnVT1bMDy5k6.html
Thank you, this was awesome...
Tom would make a good actor!
Thank you Mark, did you watch the other videos?
@@LennieClausen_dk Yes Lennie I did. Great keep them coming.learnt a lot , have been following Tom since 2008 crisis. when he was at City Index. Like to know what he has to say about this sell off we are being today.
Mark Roberts, are you on Toms Telegram group. 19th Feb. Tom shared a video of his swing trade outlook. It haven't been shared here thou
@@LennieClausen_dk Not yet ,but I will sign up for Telegram shortly!
@@markroberts2378 Tom had a talk on Larry Pesavento show 18th Feb. where he called the top. The video was shared in the telegram group. It will be uploaded on youtube - but as an educational video
This is brilliant. Thank you. Is there anywhere where we can learn more about how to build up a position? I’ve been trying in my back tests but probably would benefit from a few pointers as currently I haven’t been able to convince myself on the best way to manage it
Thank you so much. The last part of this video is about adding to winning positions: th-cam.com/video/FEOeFnN3pdM/w-d-xo.html
this video is knowledge treasure
Thank you 🙏
Don't forget part 2 and 3.
You should have been in London this weekend - talk about knowledge.
@@LennieClausen_dk where can we find part 2-3 of this webinar ?
@@masterofus3098
Part 2: th-cam.com/video/sg_OTc0lRko/w-d-xo.html
Part 3: th-cam.com/video/8_ApSnc7k2A/w-d-xo.html
I think the Psychology playlist might be for you:
th-cam.com/play/PLTIUSbN_V17W-c4gClZkfvnVT1bMDy5k6.html
Be aware 3 of the videos are in Danish with UK subtitles (you need to turn them on yourself)
Just amazing....
🙏 Don't forget part 2 and 3.
👍 - Enjoy
Waiting for the book Tom!📚
Me to even thou I have read an early edition. But I want that (signed of course) hard copy. 😃
Fantastisk video Tom, mange tak
Ville ønske, man havde samme tankegang som dig Tom, men det er virkelig svært og tager nok lidt mere end 3 måneder :)
Hi Søren, It takes time but is well worth it when you get it right.
This was the motivational talk I needed.
Still got some issues to address.
Going to use some highlights for my mental preparation.
Thank you - you motivate us to make more ... Don't forget to subscribe - more good content on its way
Great one Tom! When are you going to post more uploads on your youtube site?
Mark, you should see more uploads very soon.
Tom you are the BEST in this business 🙏🏻
Thank you very much Tom
You are welcome. I hope you also had time to watch part 2 of the talk: th-cam.com/video/sg_OTc0lRko/w-d-xo.html
This changed my mindset about the mind of a trader, I wised i saw this months ago, well it's never too late.. All I can hear from this presentation is that the right mindset is key to being a successful trader. Your simple yet detailed explanation have made me a lot calmer whenever I trade.
I actually bought high and sold higher today; 26th, of August 2021.
Thank you very much..
And I actually sent you a message on telegram of how I'd love to join your signal group and hope to hear from you, sir.
I believe that i should be listening to you more and more.
Sorry, somehow I missed your message. I do hope you found your way to the Telegram Group. Else let me know.
Honestly, this is my epiphany.
🙏
Nice talk, electrifying. You literally give me a headache ;)
Do you remember finspreads back in 2002-3 and this little window with 5 seconds time to make decision to make the trade or not? It was funny when news came...
Thank you Lukasz, Part 2 of the talk should be up tomorrow. So subscribe so you don't miss it.
Is it possible to find presentations in pdf from this material somewhere? It's sensational.
I'll see what I can do about it Monday.
Adding to gaining trade- Y is it that many times I do so, it reverses immediately upon adding? Can be actual seconds after a breakout. Appreciate it.
Thank you for the awesome content
If you add to a winning trade, it then starts to go the other way, you cut the trade. You should still be in the green because you were up. Don't HoLD losing trades. LOSERS add to Losers - Winners add to winners.
amazing speech
Will the book "What i wish someone had told me 20 years ago" be released in 2021? This video was priceless TY
Thank you for your kind words. Did you watch the 2019 talk as well? th-cam.com/video/ozaOAupN5_Q/w-d-xo.html
The book should be in bookshops this summer 2020. But with all this coronavirus it could be delayed.
@@LennieClausen_dk thanks for the info, going to watch the 2019 talk now :)
@@nicklas8112, you are welcome. It's weekend if you have more time 15 min spend on this one might be good too. I used to be one of those people in the past - this video made me rethink my trading a few years ago. th-cam.com/video/VUjwD1XZQrs/w-d-xo.html
Hi tom do you doing mentorship program if is yes how i can get information
NO he doesn't but in the stream from yesterday ... he gives advice on this topic.
@@LennieClausen_dk ok thanks
Do you recommend more of a "set-and-forget" mindset or "active management" stratgey such as scaling in and actively stacking when the trade is going in your direction?
Or the question is how do you create a system that you can "add-in" to? Is this ambiguous or can rules be set?
@@ahem7553 I would like to give you a more in-deep answer than I can give you right now. It is a good question and deserves a good answer. In the meantime, Tom talks about adding to the winners in this video. th-cam.com/video/FEOeFnN3pdM/w-d-xo.html
@@ahem7553 that's why I need some time. I see so many ways to answer your question. And the word coming to my mind is it depends.... if this add if this do not add. As said it's a good question and I know exactly what you want to hear. But it's very tough to answer here. Perhaps I can ask Tom to do a full video on that subject.
Best way to avoid emotions is not to look at pnl obsessively, try to look at it eod or at the weekend if you can handle it
Or even at the chart at all, that’s what I do and just check every night to see if my trade won or lost
Not only fear, you may learn to overcome it but then there greed!
in todays market doesn't 1.5p spread represent the equivalent to 8p's in the past?
Well, you have a valid point hugo.
I’m hoping his hate for TA is just because he feels that a BASIC amount of TA (price action, trend lines) is enough. I 100% that psychology wont influence the market but it WILL influence whether or not you make money off of it. TA is definitely legit though. It’s worked for me consistently when the psychology/self discipline is applied WITH it :D
Hi Steven, Tom is not against TA. But he is against when people put way too many indicators on their charts. You can see him explain it here: th-cam.com/video/VUjwD1XZQrs/w-d-xo.html
You would need to take profit at some point, you cant just let every trade in profit run for a decade or whatever? It will eventually hit your SL. Thats just roundtripping and it never works out.
That's why instead of doing 1:2 like other traders, my RR ratio is 1:4. Breakeven at 1:2, 50% partials at 1:3 and close profits at 1:4.
Trailing stops?
@@echochambers4165 okay but that will cause you to get thrown out a lot as well and if you just let it run it will go to breakeven 99% of the time and 1% it will hit your risk SL 😂
@@echochambers4165 trading is just so dumb the only people making money from it are trading gurus selling courses and brokers 😂🤦♂️ Its the hardest way to make easy currency
👏👏👏
I think I can speak for most Americans: Mayonnaise????? Yuck...but great talk...very helpful!!
Thank you for the comment. Mayonnaise is a must.. just saying 😉
Most Americans?? You must stop speaking for most Americans lol... I'd say we love mayo as a whole
@@ericmuncy on "chips? Fries that is?
@@ericmuncy lol I think there are still hope for Americans 😉
@@pdlegend6829 absolutely... A tasty mayo aioli is the best with fries
Mayank army
✍🏼✍🏼
This is total BS.
this basic thimking
Sadly for most, it is not basic. But good for you.
Should I give up on Trade?
What should I do?
How may I do better?
What I'm I doing incorrectly?
I always advice new members to have an orientation on how it works before getting involved. Trade offers more benefits than just holding.
Kate Floretta
Face book
Google " katefxfloretta " anywhere take classes to learn to trade.
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH. stock,silver and gold)
When it comes to Trade, I can confidently say that bitcoin is the best option. But most people think it's all about buying and leaving it to rise but It takes a lot more you need to trade it to earn daily.
This video does not have millions of views & it is one of the reasons why only 1% of retail traders succeed in the market!
Thank you 🙏
We need them to get money from them 😂
He should’ve put a couple gold chains on and added how to make 1mil in a day…
I'm watching this a 2nd time because this lecture corrected my trading and now I trade without fear, adding to winners, with reasonable confidence, looking for reasons I might be wrong will concentrating on wins and cutting losers.
As of now I'm at 54% annualized and my highest trade was 190% annualized.
I look forward to see what lessons are here that I may have missed when I was less well formed.
Darth Trader, That is so great to hear. GOOD JOB 👍
Many of the videos here are rather long. So watching them a 2nd or 3rd time isn't stupid at all. When you watch them 2nd time you have already built on your knowledge and therefore have a better chance to get missed info.
I don’t know how to communicate with you in one by one, but I am requesting you from my bottom of my heart. Please come back on a daily basis. You are just God gifted for us because we are live in far from you. I live in India, which is I think the most far from you and I appreciate really, really, really appreciate your work very, very much, your kindness, God will bless you very, very much. Please come back and update and share your life trading life for us who really appreciate you. Please come back in this world. No one have that courage that you have. No one have that mentality that you have. I am very blessed to have you, please, not let go like this. Grab our hand. Please come back.❤
Yes sir, please come back❤
Simply a priceless talk into true nature of the trading game. I vividly remember the first time I watched it. After a couple of years, desperately searching everywhere for the sceret of making money out of the market, going through the first 10 min of this wonderful talk, I just realized I found the right way!
Now, I watch it almost every sunday evening to get mentally prepared for the upcoming trading week.
I've watched it so many times I think I could do the speech myself. 😉
You are look like Jason Statham :)
Hi Mehedii - is that good or bad :-)
Lol yes!
@@LennieClausen_dk of course good; Jason is a global movie superstar.
@@MuhammadRazib 👍
Great presentation. I'm reading Tom's book, The Best Loser Wins, and this really helps solidify the information. Tom is pure Gold.
Most underrated video
Excellent presentation, masterpiece of trading psychology, thank you very much! Love it!
Thank you Kevin 🙏
Great video Tom. You're one of the best traders in the world, because you THINK DIFFERENTLY TO THE LOSING 90%. We,as traders lose, because we get in the way OF OUR OWN POTENTIAL!! The late GREAT Mark Douglas, use to say YOU DON'T need to know what the Markets going to do , to make a winning trade. ( that never made sense to me - until I went inwards ( my mind being the problem) Follow a process - Rinse and repeat........Over and Over again!!!
Thank you so much Phil. Can I assume you watched part 2 as well? th-cam.com/video/sg_OTc0lRko/w-d-xo.html
I remember when I first started trading MES futures. My best day was when I added to my positions as I was winning. The market happened to be trending up the whole day. The next day It was on a downtrend, and I added to my position as the market was dropping. That was my worst day.
Thanks Tom. This did clarify a lot of the problems I have encountered in this Journey. Form Kenya am grateful.
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
That’s crazy, I’m just doing everything wrong with my portfolio.
The US-Stock Mrkt had been on it’s longest bull-run in history, so the mass hysteria and panic is relatable considering we’re not accustomed to such troubled mrkts, but there are avenues lurking around if you know where to look. My wife and I are retiring this year with over $7,000,000 in tax deferred investments. up until 3 years ago we were 100% in the S&P. During bear markets we had a perfect plan. We got an investment manager in our corner and didn’t look at our portfolio for nearly a year.
Same here, 75% of my portfolio is in the red and I really don’t know how long I can stomach the losses. I’m beginning to reach a breaking point.
Patience patience patience. It's a cycle.... a sucky point in the cycle, but a cycle nonetheless.
Wow, that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
this is pure gold ..what I like is how he addresses how its not perfect and how he points out even the professionals are not perfect gives me hope that I can learn and become a better trader
Thank you
Don't forget part 2 + 3 ;-)
So glad I found Tom's videos. It's brilliant!
As someone who wants to learn to trade, this makes sense
Thank you Tom for sharing
i listen to this every morning before trading
doing it right now, and plan to do the same.
Best best best. ❤️ ❤️ ❤️
Now you're my second favourite person in psychology of trading. 🙏
First one is Mr. Mark Douglas 🦋❤️
Thank You So Much For This Amazing Beautiful Fantastic Powerful Outstanding Gift To Me. 🙏
You're amazing, you're awesome, thank you thank you thank you. 🙏
Hi iElliottician
, Thank you so much for your kind words.
I haven't slept for a moment.. that's gold right there.. hope I will meet you one day..
One of the greatest trading seminars ever
🙏
I followed your advice to buy more when it goes up and it was the right decision. Thank you for your advice.
Got up in the middle of the night and was listening to this. Now I am sure I won't fall asleep again. Cannot wait the markets to open😅
How you doing so far budy?
Practice does not made perfect practice makes permanent. Priceless
I have an edge, I good risk management, I just need the CONFIDENCE
The only person that can give you confidence is yourself, and the only true confidence is the one derived from actual results.
Good luck my trader friend.
March 5th 2020 then a week later the stock market crash due to covid.
I can wished i had gone back in time to start learning how to trade 3 year or i can devote my entire soul existence to learning it now
Jesus I really needed this lecture and. The words from David Paul after blowing up my account making the exact mistakes shared in the video, thank you so much
You are a great trader! I like how you talk about the psychological make up of a good trader because to me that's everything in trading. Honestly that's what makes you my favorite female trader on TH-cam and could honestly consider you the best because you do this on multiple broker platforms. Thank You for the value you give!
Female?.....
No, gmail😂😂😂
Wow! What a GREAT STUFF presented from an absolutely GREAT BUDDY! Awesome! "I think you know me?! How do you know how I already think while my daily seccions?!" ;-) My human nature is quite hard to crack... but I´m already on it... I think I´m not alone... Keep on producing great stuff. Thank you! Thank you! Thank you! Greetings from Austria
Thank you so much 👍. Don't forget par 2 and 3 😉
London Talk 2019 isn't stupid at all when you have the time.
@Manuel Kiss
The Kiev Talk has a very annoying translation. But if you can live with that Tom Hougaard have some very good points in that one he hasn't share anywhere else.
Tom I wanna thank you so much for uploading your seminar for free on TH-cam. It helped me a lot on my journey. And I hope other traders will also get enormous benefit from it
You are welcome Candis 👍
Don't forget par 2 and part 3
Absolutely astoundingly excellent presentation, Tom. Thank you very much! I have seen tons of lectures etc on trading, but none is so eye-opening as yours ! Thank you very much.
Thank you Simon 🙏 - don't forget to watch part 2 + 3
@@LennieClausen_dk Yes I've seen them all, even Tom's other conferences & scalping videos: absolutely original Psychological approach, really really useful advice, and yet I've studied markets as a pro and personal hobby for 20 years.. Thank you very much !
Seriously just wow. Inspiring and motivating. Thanks Tom 🤲
Thank you 🙏 Don't forget part 2 and 3.
Thank you Tom a lot!!! You so right and so helpful to open my eyes even I know that I have mental problem enemy inside me- you make it more clear!
Thank you 🙏 and your first step is to realize you (like most of us fight with your inner devil) have this issue. I think you will find helpful content at Toms Psychology playlist.
His book is one of the best in trading psychology
Most insightful few hours on trading. If I can implement 10%, I would be a better trader.
Thank you 🙏
You might find value in the very first video posted on this channel.
th-cam.com/video/d7wQIsdiXZQ/w-d-xo.html
Thank you Tom. You are a Legend 🙏. Priceless speech
It is too hard to add to a winner..
It feels like you are buying at the top end selling at the bottom...
That is your fear you have to embrace and overcome.
I do feel that way too.
I suppose by reading the chart you will know when to cut your lose
The key is to add at key levels. Not just adding to add.
@@TH-cq7bj that makes sense
This is by far one the best thing I have ever listen about psychology in general...
This guy is a dawg
Tom is one of the GOAT'S
If adding to winning positions were an absolute virtue, then no one would ever take profits. I accept that traders tend to take profits too early, and that that tendency is rooted in the desire to mitigate pain, but this presentation leaves the audience to guess when profits are ripe for taking.
Never. Just move your stop loss and let the market decide what profit you get.
WHAT HAS YESTERDAY GOT TO DO WITH TODAY? - THE BEST LINE TO RESET.
😉
Oh god, I watched a lot, a lot and a lot videos about trading on TH-cam, but this one clear the fog why trading is so hard. Your voice pressed the thing damn good. Thank you Tom.
“Pressing the position” big enough. That’s fine if you have a ton of money of lose. What about those who don’t ? So, therefore, I will continue being cautious and not too greedy. I know that’s likely frowned upon to Tom and his followers. However, it’s what works for me and helps me be part of that small percentage of traders who make money. Either way, good speech!
Bet smaller initially and as you start winning add to it
It's fractal, start small and add.
You’re wrong about meat . Right about chips.
"...we see things not as they are but as we are..." - I think we also call this Confirmation Bias
I think you are right 😉
the best video for trading i have ever seen.
🙏 don't forget part 2+3
❤... from India.
been watching the charts this week each day after work. im gonna start demoing this next week God's willing.
I traded a $3 account to $210 in 3 days of trading taking only 6 trades. My draw downs were almost non existent to very short lived. My trades were pretty much going in to profit almost instantly.
How ever on 4th day of trading i took a losing trade of $5, so i stopped trading then i had a inner urge to take another trade, then another loss and another then within 4 hours the account was to $0.
So next time i started with $600 and grew i to $4000 again with ease and swiftly. Then one day i blew the account within 3 hours same cycle as before.
Then i have started with $50 in 2 days i turned it to $337 then again blew it.
Then i started buying courses thinking i need to learn more.
I am now so glad i found this i will now look in to my own emotions and thinking. If i can fix my thinking and control my emotions i will transform my life
90%+ is in your mind.
You should watch this one as well th-cam.com/video/d7wQIsdiXZQ/w-d-xo.html
Man i started cracking up around 36 mins. This is the first video i have seen of yours and its full of gold. A member from babypips recommended you're channel and i am really glad i checked it out.
Thank you for your nice words, Will. It is always nice when traders help traders finding quality content 👍 I hope you find more videos you like on this channel.
@Trader Tom Great talk! I heard you mention that people don't run their winners and put stops to break-even too quickly sometimes. Question please: you set your stop to B/E and close positions sometimes early during your uploaded live trading session. Is that because of scalping or did you change your philosophy in that topic? (and to what benefit) thanks- can't wait for the book to come out.
You have to think about your trade ... is it a scalp an interday or swing trade. Where are we on the chart ... what is the momentum.