All language subtitles for 1. Trading Psychology & managing emotions

Hello, everyone.

We'll be discussing the most important topic in this video, which is trading psychology and how to

manage our emotions before we spend any money in the financial markets or find our trading account.

We have to first put in the ground, work and invest in ourselves in order to build a hard, emotionless

mindset to achieve success.

The financial markets are very volatile.

You will feel the rush of emotions as the market goes from village to bearish.

The breneman unconquered from these negative emotions becomes the biggest enemy, not only to you,

but to your trading account balance.

To begin our journey in defeating these naturally occurring emotions, we must firstly identify them

and break down the effects on our trading journey.

We have to remain aware of these naturally occurring negative emotions.

Your biggest challenges would be greed, fear, denial, panic, depression, excitement, which means

cockiness and anxiety.

So let's break down one by one in steps.

So greed, greed will hit you hard after a green week or two when you will be making some handsome profits.

All these social media gurus who have projected get rich quick scheme thoughts into your mind, which

then will force you to make ignorant decisions.

You'll start over.

Risking your portfolio or risking is the fastest way to blow your account on the mainstream media.

There is a fake persona of creating.

There is no such thing in reality.

Like there always remember, slow and steady wins the race.

Managing the risk is the first priority of every trader.

As a professional trader, you have to manage your risk and you have to secure your funds.

No to fear.

Fear will strike you deep when you experience a bear market or investing more than you can afford to

lose.

Or after losing some trades in this chart which you are seeing, these kind of movements brings immense

fear in the market.

Certain drop brings immense fear in the market.

As long as you are managing your risk, fear should not overtake you.

Number three denial.

Denial will plague you when your investment decisions turn out to be incorrect.

This will most likely occur when a negative news or a scandal has been released.

Panic.

You will panic during the large intraday market swings when the market will make fake breakouts and

move in the opposite way.

This will lead to panic selling in Lost the chart, which you are seeing this of Bitcoin in US dollars.

Imagine now imagine the triangle had a breakout towards the upside.

No, on this scandal, majority of traders would have been bought over here, but unfortunately the

market made a fake out and hid all their stop losses and came back again.

As you can see in this triangle, depression, depression begins to come after a strong emotional discomfort

from the markets after suffering from large financial losses in the markets.

Excitement.

This is more sort of a positive feeling, but excitement, if handled incorrectly, will lead to bad

results.

You will be overconfident and start risking more on every trick in the beginning stages.

After a few successful trades, you'll be like, this is easy.

I can do this every time.

And now you're out of a logic.

You're entering trades in the wrong positions.

A very quick way to bringing your trading account to zero excitement takes the rationality away from

trading anxiety.

Every new trader or sometimes even experienced student, after going through a series of losses, becomes

fearful.

Thinking for all these worst case scenarios.

Even if it is a right trade based upon technical analysis, risk is calculated, everything is managed

till you'll have anxiety to take that trade and you wouldn't be able to place the trigger of executing

the trade.

This makes a person pessimistic, know how to conquer these negative emotions and have calmness and

clarity through your trading journey.

I'll give you a simple exercise.

We calmness and clarity to work towards our fullest potential.

A simple practice like meditation, you must program your mind to describe yourself a comfortable chair

or sit in a quiet place and just close your eyes and observe your thoughts and focus on the breathing.

Begin to gradually focus on breathing.

This will not be easy in the beginning, but you will slowly get used to it while breathing.

Your main priority is just to observe your thoughts without engaging them, without feeling them.

Just observe them whenever a negative thought comes to bring it back to the present moment.

So the law of repetition stays there.

The more you practice, the more you get better at it.

You'll be surprised at what kind of thoughts I'm thinking all day, not only in training.

It will help you in all life.

You will be extremely clear and conscious and make logical decisions.

This will become a game changer in your investment and training journey.

I'll give you some tips from my experience of trading.

So always remember, simplicity is the key.

Simple charts, clear and clean.

Prosection is what you need.

That's it.

Don't follow the mainstream media, which every second grader uses ten in five indicators and they keep

dragging this.

It does not work at all.

You need a crystal clean price and chart.

That's it.

And the less you trade, the more profitable you will be in the long run.

Let's assume someone who is always looking for trades to enter and exit 24/7.

No matter how professional you are, they'll always be a psychological implication when you're involved

in their trade.

I never even I'm involved in a trade.

I have some sort of attachment to that trade.

Why?

Because my money is on the stake.

It is natural, but you have to control your emotions here in the financial markets.

You are given full power of your decision.

You are in full control and you are put under this whole kind of responsibility.

There are all kinds of mental judgment, consistent battles with yourself, all kind of crazy things

running through your mind.

So the least amount of rage you're in, the better.

Remember the risk management module?

We started about about high reward and low risk setups.

The least amount of tricks, the better.

And the golden point, let the market come to you, which means from which the price can bounce back.

Never, ever, never, ever forcefully chase a trade.

Let the market come to you.

This is the golden point in the financial markets.

Your actions will dictate your outcomes.

We always blame others in the market, but we do not blame ourselves here in this markets.

Our actions will dictate our outcomes.

So now we have discussed the major challenging emotions.

We have discussed how to manage them.

So do apply all these practices which I have shown you in this review.

It will make you a better human being and a better trader.

I hope you have enjoyed the lecture and you have completely understood.

Thank you so much.