Developing A Winning Trader Mindset - Pat Bailouni | Trader Interview

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  • เผยแพร่เมื่อ 15 มิ.ย. 2024
  • In this Forex trading video, Etienne sits down with Pat Bailouni to discuss trading mindset and how to develop a winning trader mindset.
    #trading #tradingmindset #mindset
    Chapters:
    0:00 Executing that trading edge
    0:35 Pat Bailouni Intro
    1:31 Pat Bailouni shares how he started trading
    3:31 His journey on studying the human brain to become a better trader
    4:33 Most helpful changes to become a profitable trader
    5:11 Strategy for consistency in the market
    6:36 Current trading style
    8:16 Trading mindset tips
    9:06 Two types of decisions - Outcome-based decision
    9:56 Process-based decision
    11:24 Building self-awareness
    11:53 Two ways to continue making process-based decisions in trading
    17:09 How to fix your mindset when you’re losing
    19:11 How to handle losses when trading prop firm accounts
    20:16 Risk-management protocol, protecting your psychology
    22:03 Going back to normal risk levels
    24:29 Best practices in prof firm trading
    24:44 Connect with Pat Bailouini and learn more about his work
    Where to find Pat:
    ‪@PatBailouni‬
    Disclaimer: I do not endorse or recommend my guests' products and services. The Desire To Trade Podcast is primarily a place to share tips & experiences from real traders. I encourage my guests to provide value but not everyone has those same intentions.
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  • บันเทิง

ความคิดเห็น • 75

  • @PatBailouni
    @PatBailouni ปีที่แล้ว +60

    Thank you having me on Etienne - always a pleasure sharing some insights on trading psychology🙏

    • @jayem071
      @jayem071 ปีที่แล้ว +2

      It was a pleasure to listen to you. 🙏

    • @diguemaia
      @diguemaia ปีที่แล้ว +1

      Hi Pat, I’ve just seen your interview. Thanks for sharing some really valuable thoughts. By the way, as it didn’t get much clear for me, I wonder what kind of system you use or mention when you’re referring to a Trading plan. It wasn’t clear for me, for example, if you trade using setups or doing analysis, in this case finding entries in a pattern. Also, I totally agree when you say you have to find a strategy that correlates to you. That’s fundamental. Cheers from 🇧🇷.

    • @Bueno_Bueno
      @Bueno_Bueno ปีที่แล้ว +2

      Outcome VS Processed based trades.
      I feel like that really opened a new door for me mentally.

  • @fastone136
    @fastone136 ปีที่แล้ว +7

    the pain of discipline,is less than the pain of regret.

  • @JXMMIEZERO
    @JXMMIEZERO ปีที่แล้ว +4

    Thank you Entienne for putting in so much effort getting these great minds to freely speak on your platform.

  • @africanlion5912
    @africanlion5912 ปีที่แล้ว +1

    consistent execution of a trading plan leads to consistent results- take away,, thank you so much

  • @nonnykoli2019
    @nonnykoli2019 ปีที่แล้ว +2

    That's my Coach! Awesome interview as always ❤️❤️🥂

  • @Fenix_Trader
    @Fenix_Trader ปีที่แล้ว +3

    Very essential knowledge on trading! Thank u!

  • @brandonweemhoff9242
    @brandonweemhoff9242 ปีที่แล้ว +1

    Nice advice on the systematic approach to minimizing risk loss.

  • @jdubruyn
    @jdubruyn ปีที่แล้ว +12

    Thanks Etienne🙏💙@Pat, took me 10 years to figure it out😉💙 If I may add to the conversation... a high account balance has a huge effect on whether decisions are outcome or process based. Being faithful in the least will not necessarily be the case when you "have" much and the relationship with money itself has (a) huge influence on how we stay disciplined. I think stewardship* becomes much harder when it is a traders own money on the line but can also be a liberating experience...
    "Money can buy some things to create happiness, but it can never buy happiness." Ellen Barrier
    “If you want to know what God thinks of money, just look at the people he gave it to.” Dorothy Parker
    "You win some, you learn some." Jason Mraz
    "You live and you learn."

    • @DesireToTRADE
      @DesireToTRADE  ปีที่แล้ว +3

      That’s a great point, Johan! However you must train yourself to be disciplined even when capital is low. Ultimately we’re creating habits

  • @DanielFlores-no9wc
    @DanielFlores-no9wc ปีที่แล้ว +2

    Cheers from Panamá 🇵🇦 thanks for this

  • @LG-tw5vm
    @LG-tw5vm ปีที่แล้ว +4

    Personally, what I did was I tracked and documented how much money I would have made if I closed trades based on what I felt in the moment was the best time to close a trade vs what the process I created told me was time to close out a trade. Sticking with my process was hands down more profitable long term.

    • @applejackzo
      @applejackzo ปีที่แล้ว

      This is something I've started doing and I came to the exact same conclusion.

  • @Max-ed5rv
    @Max-ed5rv ปีที่แล้ว +2

    Wooow, i really gained a lot from this interview💯

  • @ifeanyichukwuanowai9452
    @ifeanyichukwuanowai9452 ปีที่แล้ว +8

    Thank you Étienne ! Your channel has helped & is helping me so much!

  • @Githinji_the1
    @Githinji_the1 ปีที่แล้ว +1

    I think God is aligning me here. The past two videos seem to be talking to me directly. This one has given me a nice idea od dealing with prop funding when I am in DD.

  • @davidlewis4724
    @davidlewis4724 ปีที่แล้ว +1

    Great video again Etienne.

  • @robertpowell4415
    @robertpowell4415 11 หลายเดือนก่อน

    Best advise and analysis I’ve heard in the last 4 years!

  • @jayem071
    @jayem071 ปีที่แล้ว +1

    This guy knows the game.
    Trading systems are only 1/2 the battle.
    Knowing yourself and your own psychology is at least as important and more so imho.

  • @Staygreat1234
    @Staygreat1234 ปีที่แล้ว +1

    This is a great and important video. This is where I am working to improve.

  • @andrenicholas2748
    @andrenicholas2748 ปีที่แล้ว +1

    Thank you so much for this interview I am subscribing immediately to Pat

  • @brucesmith6868
    @brucesmith6868 ปีที่แล้ว +3

    Thanks E I think psychology is right behind technical analysis as far as importance.

  • @Max-ed5rv
    @Max-ed5rv ปีที่แล้ว +1

    Having a step by step trading strategy has really changed by trading positively💯

  • @Aaron.trades
    @Aaron.trades ปีที่แล้ว +8

    Awesome podcast boys, showing the realities of trading and the importance of the power of the mind!! 👏🏻

    • @milesvanrothow2067
      @milesvanrothow2067 ปีที่แล้ว +2

      The importance of having a process and following the process, not an expectation.

    • @PatBailouni
      @PatBailouni ปีที่แล้ว

      🙏🙏

    • @DesireToTRADE
      @DesireToTRADE  ปีที่แล้ว +1

      Glad you liked that interview, Aaron!

  • @user-xm5rk7cd6v
    @user-xm5rk7cd6v 11 หลายเดือนก่อน

    the mindset of being a trader is very important. thank you for the video, it is very useful for me, a beginner who is in the learning stage in the NFC community.

  • @t0neknee86
    @t0neknee86 ปีที่แล้ว

    Blessings from Puebla, Mexico.

  • @gannongifford2318
    @gannongifford2318 ปีที่แล้ว +1

    Your videos are great brother thank you!

  • @kevinali3700
    @kevinali3700 ปีที่แล้ว

    Daily timeframe is my go too!!! Breath of fresh air!!

  • @inathimbutuma2028
    @inathimbutuma2028 ปีที่แล้ว +1

    thank you so much Etienne, I appreciate these interviews so much you're truly a blessing man I can't thank you enough👑

  • @tokyovilakazi5818
    @tokyovilakazi5818 ปีที่แล้ว +4

    outcome Based decision has been blowing my accounts over and over again😅

    • @whoaitstiger
      @whoaitstiger ปีที่แล้ว

      Don't beat yourself up 🤗

  • @tzvassilev
    @tzvassilev ปีที่แล้ว +1

    Great points, thanks for this interview.

  • @253SB3ST
    @253SB3ST ปีที่แล้ว +1

    Consistently CONSISTENTLY GREAT ADVICE AND PODCAST! Etienne and Pat much love from Washington state USA

  • @MBUkitake99
    @MBUkitake99 ปีที่แล้ว +2

    Great interview. Very insightful information on mastering ones trading psychology. Thank you Pat and Etienne

  • @KrisGame1
    @KrisGame1 ปีที่แล้ว +3

    Very good interview. This is a very helpful talk that will help people see through there losses, and work in a probability game following there edge. Well done, great video

  • @franklinfx3909
    @franklinfx3909 ปีที่แล้ว +2

    Fantastic Interview!!!!
    The process or outcome decisions are also part of managing the trade as well as going into a trade. I also loved the advice regarding picking a prop firm that resonates with your strategy because if your strategy does not produce 10% in a month, you're more likely to fail most of the prop firms out there. Thanks to both etienne and Pat!

  • @manmatelephant.8080
    @manmatelephant.8080 ปีที่แล้ว +2

    Powerful!!!

  • @JESS-CH
    @JESS-CH ปีที่แล้ว +3

    What a phenomenal interview. Thanks for sharing Pat, will definitely check out your channel. 🔥

  • @Max-ed5rv
    @Max-ed5rv ปีที่แล้ว +1

    What some traders need is to journal their trades 💯..

  • @FXPips11
    @FXPips11 ปีที่แล้ว +1

    @20:30 im in this exact situation as i sit and watch this, waiting, hoping things swing in my ASSUMED direction, to get back to my plan, ugg

  • @mikekutoane911
    @mikekutoane911 ปีที่แล้ว +1

    Great podcast ❤️'d it

  • @dj_sergiov
    @dj_sergiov ปีที่แล้ว +2

    Great interview. Very important principles when trading

  • @hadiyazdani1170
    @hadiyazdani1170 ปีที่แล้ว +3

    great podcast and content, Thanks man 🤘

  • @josephharley451
    @josephharley451 ปีที่แล้ว

    FANTASTIC

  • @FXM3
    @FXM3 ปีที่แล้ว +1

    Yes this interview is way better than the last one with Boris. He was drunk

  • @gh8066
    @gh8066 ปีที่แล้ว

    what he spoke about from the 15:00 mark onwards is really useful

  • @FXPips11
    @FXPips11 ปีที่แล้ว +1

    @9:15 BOOM

  • @Fenix_Trader
    @Fenix_Trader ปีที่แล้ว

    Very good. Thanks.🙏 But always would like to See on chart when guys show how they trade!

  • @Bayraktar_999
    @Bayraktar_999 ปีที่แล้ว

    Key word: confluence

  • @253SB3ST
    @253SB3ST ปีที่แล้ว +1

    are you considering consitance & constancy on your trading journey ? maybe becoming CONSISTENTLY Profitable!??? or are you CONSTANTLY CONSISTENT ALREADY?

  • @Amadeus8094
    @Amadeus8094 ปีที่แล้ว +2

    Any book you suggest related to "process thinking" for traders? Thanks

    • @whoaitstiger
      @whoaitstiger ปีที่แล้ว

      Trading in the Zone by Mark Douglas.

  • @elephanttrader3890
    @elephanttrader3890 11 หลายเดือนก่อน

    Motivation

  • @alirezaamiri2047
    @alirezaamiri2047 5 วันที่ผ่านมา

    If I lose and journal and avoid them 😮💰

  • @YasinNabi
    @YasinNabi ปีที่แล้ว +2

    I love this video and share this quote with you too, “A successful man is one who can lay a firm foundation with the bricks others have thrown at him.” -David Brinkley

  • @hkicgh7277
    @hkicgh7277 11 หลายเดือนก่อน

    Straight out of Mark Douglas's book.

  • @davidtumwesigye1631
    @davidtumwesigye1631 ปีที่แล้ว

    I,m beginner, I,ask can I bollow money in the trading company as a member?

    • @DesireToTRADE
      @DesireToTRADE  ปีที่แล้ว

      If I gave money to everyone asking on TH-cam I'd be broke. :)

  • @j0078924la
    @j0078924la 11 หลายเดือนก่อน

    U SHOULD BRING ICT ON BOARD

  • @MrSimonw58
    @MrSimonw58 ปีที่แล้ว +1

    Sounds like a 5 page plan

  • @gunzemperolagahit196
    @gunzemperolagahit196 11 หลายเดือนก่อน

    needs subtitles. you talk too fast with an accent its kinda hard to understand.

  • @ThinkerbellPvtLtd
    @ThinkerbellPvtLtd ปีที่แล้ว

    Speak slowly and with breaks between words man.

  • @erro1138
    @erro1138 ปีที่แล้ว +2

    This is perfect guys 🫶🏼

  • @FXPips11
    @FXPips11 ปีที่แล้ว +1

    @20:30 im in this exact situation as i sit and watch this, waiting, hoping things swing in my ASSUMED direction, to get back to my plan, ugg