Original subtitles

manage and calm your biology. Now, it usually takes around

design that to drive your strategy edge the surfer cannot

comfortable with engaging in uncertainty and staying calm

psychological self that gauges that uncertainty because there

pure performance because you realize what I've got is the

perform and just let the numbers fall. And you know this

trader you must learn to go with the flow of the market and

operating in the now without maybe seeing things as worse

array of less complete realities. So kind of what that

of greed no look at the Bitcoin chart and you think of all the

to develop interlinking skills that result in a mind that is

you know the psychological edge that takes me out of

by training and working on it. It is paramount to think the

because that is the only state of mind that works in trading.

mind that performs and that's what gives me the mental edge

should take or moving your stop loss to break even too early or

that engages that uncertainty in the market rather than the

control you and your trading. So, naming your fears and

neuroplasticity can shift as you move forward particularly

five years for a trader to even begin to realize, right? That

success. Now David Eagle who's an American neuroscientist he

you can control but not the outcome of individual trades

visualisations now although they can help in the short term

million dollar question is how do we transcend these two polls

embody being a photon trader. The part of your mind that

their life via sex or you know watching other people's lives

damaging your long-term profit and loss performance on your

the market needs. It will have to be retrained for task to

to trading. The more you try to avoid realising a trading loss,

traders. Because the brain that you brought to training cannot

the pain, and the resentment. But the exact same laws applied

of the need to win and then your job just becomes one of

good news is is that the brain is highly highly adaptive. The

performance I can control the performance I can control the

even removing a stop loss entirely, then the more you are

are lots of trading systems that can give you an edge but

you must strive to achieve objectivity. In other words,

will collapse under stress but you can change the

but in doing so, they just get stuck in a constant revolution,

your higher objective mind and seeing the whole picture for

markets because evolution is going to say fight or flight

calls this adaptiveness of our brain live wiring so literally

your growth as a trader and your biology is going to fight

you're building it into the mind that engages uncertainty.

what it is it allows you to pull out of artificial

elated. I'm depressed. I'm elated. I'm depressed. I'm

market from within rather than master it from above engaging

pains. They try to stick only to the one side. You know,

creating the courage to push through them is essential to

control the wave right he works in cooperation with it and he

give you the success that you seek. You are literally asking

just takes whatever the wave is willing to give to him now as a

the light and become a master trader. That is my mission to

and acting on what you lies through that limited awareness

it is your mental edge that drives it all so learn to

And then what you'll realise is that training has always been

not be attached to your biases and you're going to learn how

bring the psychological edge that was always there but

recognizing that they can teach you a lot about yourself is

under pressure because you will become the designer of the mind

and patient so that it operates from disciplined impartiality

mind, you know, it's a skill that can be taught and learned

nature has given you is not what the artificial world of

people who had bought Bitcoin at the top and they were still

animal brain and this is the difference maker you move from

neuroplasticity of the brain you can teach it to deal with

getting drunk every weekend you know chasing highs escaping

An attachment to one side of the pendulum. You're trying to

so the major key here is to see things objectively as they are

the deception of controlling outcome to controlling the mind

help you reach and maintain that level and that's the

feeling this vibe. Evolution is towards the light. That is when

hold, there's an opposing reality that is just as valid

and it's not going to happen by osmosis. It's going to happen

and they can be a useful tool for trading ultimately they

journey that we're going to go on throughout this program.

correct way otherwise you will be emotionally robbed of your

problem is you can't really do it with affirmations or

evolutionary psychology. That needing to win at all odds.

and with patience because as you do that you suddenly let go

up right so they only read articles and you know Twitter

constantly try to seek only pleasures and completely avoid

this is the edge that you seek. The key is what emotions are

long but then it starts to trend to the downside from the

aggression or fear however by design you can learn to

change our nature and how we trade and until you develop the

than they are out of fear or maybe better than they are out

this is a necessary part of the evolution of a trader. So, the

going to show up as you start to engage the unknown in the

skills and tools to approach your fears, they're going to

It is in freeing ourselves from the power of fear that we

acting with pure agreed, the more that they inevitably swing

Hence the name Photon Trading. That's what it means to be and

posts and Instagram posts that support their view so the

about the mind. About the emotions. About the

overrun by fear and greed, pleasure or pain, they evolve

fundamental to your growth. Acknowledging your fears and

know for certain if your demand zone is going to hold for

sooner that you realize it, the better. The trader state of

back into the hangover, into the come down, the depression,

approach with curiosity with discipline with impartiality

if you know how to teach it and this is kind of what the big

certainty or fear and that allows you to act methodically

keep our decision making as objective as possible how do we

that you bring to the management of uncertainty this

means, right? In training, if you're feeling certain or sort

the brain is wiring as you go along you know it can shift the

you every step of the way. So, you will be learning how to

That gives me this enormous gift of when my job is to

so that we can view the market from a neutral perspective and

happiness, that only consist of winning trades with no losses

historical self rather than your ancient lower minded

work in a probabilistic and uncertain environment. But the

brain can literally change from survival success to probability

and accept uncertainty and you will learn how to perform well

this, like a triangle, right? It's because it's a pendulum.

that support their view that Bitcoin is going to keep going

to war the light toward the soul. They are objective and

is assuming that your strategy and your rules have a proven

seeks actuality is your higher objective mind and as a trader,

the brain to do something that is its worst nightmare. What

step ourselves from losing masses and become master

example. We don't know because for every reality that you

auto highs those people are biased to only look for reasons

profitable edge in them. And what you're learning to do is

of overconfident, that's likely going to cost you money.

you must seek to see the entire picture including the entire

celebrities but the more that they try to chase that high you

it's just an indication that you're trying to fight the

seek the truth. They seek actuality. I want each and

avoid facing and dealing with their fears and pains by either

Certainty in training is the attachment to a single reality.

they want to vibrate on a high level. We know I'm really

whether that be by not executing a trade that you

trading account. Master traders, however, they're not

Optimism and pessimism, pleasure and pain, greed and

and that's what people mean if you ever hear them say that

psyche and that goes for every single polarizing emotion.

every one of you to enter that 10 percent of traders to see

bipolar right swinging from each pole the masses want to

oscillations. So, the reason I've drawn the diagram like

know chase the fantasy life of only happiness only pleasures

time and suddenly they start to realize that you know what?

were living in a a fantasy land. So elation and

in the lower mind, the animal mind, it oscillates back and

masters play. The losing, you know, seventy, 80, 90% of

the laws of polarity, rhythm, and vibration. As you move up

is the degree to which will snap back and swing to the left

before when they were infatuated with them when they

is up at the top and lower vibration is down at the bottom

they slowly start to become aware of the perceived negative

forth. So down here, your lower mind oscillates according to

online and living vicariously through them and following

and you start using your higher mind, your prefrontal cortex,

vibrating at a higher frequency. So, high vibration

the vibration becomes faster and faster. You are literally

into the perceived negatives and this is how people become

the right, to chase all of the positives without the negatives

you know, back and forth. The more that you try to swing to

master your training is to pull out of these emotional

oscillating between those poles. I'm depressed. I'm

governments and the media. Now, to master your life and to

traders, those are the masses down here. The masses

So, think of a pendulum swinging to and fro down here

oscillating from one polarity to an X. Back and forth, back

chasing a fantasy of a life that only consists of

the length of the pendulum becomes smaller and smaller and

or even months of dating and they think their partner is

elated. They're yo-yos back and forth. Now, I'm sure we've all

afterwards when you realize the perceived negative to your

come across someone who's so emotionally charged and

and forth. They're constantly polarized and manipulated by

fear. You know, so often people spend their entire lives

you are feeling negatively You know, you often see this with

volatile at that. I love them. I hate them. You know, down

every action in the universe there is an equal and opposite

here is where the masses are. They live their entire lives

positive charge well Newton's third law it tells us that for

absolutely infatuated with each other for the first few weeks

right so down here in the physical realm whenever you

realize that actually, they're not that perfect after all and

situation that you were initially blinded to and now

science we know that an ion is a charge particle and it's

traits that that person has but they were completely blinded to

that are starting to grind on them and annoy them and they

depression, they will always be balanced and conserved in your

reaction so what this means is that the more relation that you

feel the more depression that you will inevitably feel

Actually, their partner has quite a few annoying traits

psychology we know that anyone who has an emotional perception

mass you have charge you have space and you have time now in

create a positron right from that particle of light and then

different when you get two photons and you smash them

just perfect but as always, just give it a little bit of

of something we say they are emotionally charged about it

together they split and you create an electron and then you

they gain mass so down here in the physical realm you have

the feeling of you know perhaps pure relation you have a

new couples in the honeymoon phase, right? Where they're

sway away from balance and neutrality maybe you experience

no mass but down in the physical realm things are a lot

the bottom think of this as matter right so physical

physical realm so basically everything that you can see you

objects now in physics we know that if you are a photon that

can touch you can hear and you can smell now up at the top of

is a particle of light you have no time no space no charge and

the diagram I want you to think of this as light and down at

good setups, then you will be ready for them with less cash

your thinking brain and down at the bottom we have the lower

make up all human psychology, the higher and the lower minded

we have the higher mind this is your soul your spiritual realm

you may be starting to get familiar with that represents

where all of the variables from your system align and then

patience is also a form of action. If you can't wait for

the mind with those two parts of our brains so up at the top

animal mind these are your emotions your senses your

animal, what we're going to do is draw a diagram that some of

maximize profits and let the trade play out. But remember,

to trade. Your choice. So, if we take these two parts that

learning curve. You need patience to wait for a trade

is a virtue that is vital to success in training. A large

patterns of avoidance and or aggression dominate. The

thinking brain is easily overwhelmed. You know, patience

amount of patience is required in order to go through the

patience is needed when you're in the position in order to

real and not theoretical. In the heat of performance and

You know, you just follow your plan until uncertainty becomes

get hit in the mouth. Success in training seems so doable.

uncertainty, your training plan disappears and instinctive

indefinitely and they eventually blow up and quit or

mechanism. It does not perceive risk. All it sees is threat to

all risk is a threat to our imminent survival. To the

and on a longer term horizon than which our emotional brain

untrained brain and mind, any triggering of threat, you know,

technical reason it can as to why you should avoid executing

management the essence of successful trading is risk

life and the psychological discomfort of risk. Now, let me

process by which we assign levels of risk so that our odds

was actually built to manage consistent and profitable

you can avoid the risk and pain of uncertainty. You know, most

trading becomes possible with good risk management. However,

biological fear and the psychological discomfort of

management that's all we are doing to make money it's a

psychological discomfort of risk you know much less risk

logical and rational beings and that view of the world

to the short term, immediate focus of the emotional brain,

of profitability are higher than our odds of loss over time

with their training. Biologically, our brains are

traders misunderstand the problem. We think that we are

regulate impulse so that we can make the distinction between

distinguishing between real biological fear and the

start of understanding the problem that most people have

say that the emotional survival brain is incapable of

risk management. You know, Everybody has a plan until they

it automatically produces a biological fear response from

our primitive brain. So the brain has to be trained to

distinguishing between real biological fear, IE a threat to

emotional beings who then rationalize and that's the

built around fear and the avoidance of fear as a survival

life. The emotional survival brain is just incapable of the

dominates our perception but we are not rational beings. We are

a trade or why you should take your profits and run just so

psychology but that's bad news for training probabilities.

ducks? Or maybe you see two rabbits? Or do you see a duck

lady wearing a headscarf? What about here? Do you see two

You are wired to see uncertainty as a threat. Your

period of time where this thing needs to be happening and all

they are calm and their thinking brain is in full

between your revenue which is you know generally generated by

survival adaptations that are part of our shared evolutionary

uncertain, remember your animal brain is terrified of

looking at the charts. When you've got exposure to risk in

you know those common behavioral problems kick in and

flight mode and your thinking brain is literally disabled.

like fear of executing trades or fear of taking a loss and

of reasons of why you should avoid taking a trade or why you

the prefrontal cortex now when you are nice and calm and relax

that needs to play out in your favor because you have not

market that the stress has and left your body and you are calm

once you're out of the trade and your capital is no longer

will kick in to make you avoid any perceived pain at all costs

your lower animal minded brain it starts looking for all sorts

mind animal brain, it sees the sensory information coming in

is something that you will adapt to over time and realize

money should never come as a surprise to a trader who is

see when you look at this image? Do you see a young woman

brain is back in control only then do you realize the mistake

be triggered and all of your primitive instinctive behaviors

exposed to risk in the uncertain environment of the

dangerous situation or not. If it is dangerous, if it is

Why? Because none of those three are controllable but our

Because your brain is built to control outcome, it's built to

strategies will have losses. Loses are the price of doing

on you and this will start to happen when you're trading and

you shouldn't do and you know, as most of you are probably

over again it's the same reason that most traders take their

Your goal is simply to make money. That's it, period. You

purchasing the products, supplies, paying any overheads,

whether it be in sports or taking exams in school the need

accepting this may be a bit of a nailing concept. However, it

because you must pay for your outgoings such as you know

have a very, very special relationship with both losing

about to eat a rabbit's head? These optical illusions are a

looking over her right shoulder? Or do you see an old

great illustration of how your brain can literally pay tricks

accepted the risk that you need in order to capture the

your heart rate has subsided and only now when your thinking

you know, just shy of fiveR and you see that prices come the

know I've certainly experienced this countless times because

sprinting at you. Your amygdala instantly goes into fight or

and this all happens in nanoseconds. So this is when

much guarantee that you would have experienced this because I

you have this enormous desire to win and that's why most

should do. Why? Because the caveman brain takes over and it

all the incoming information it goes straight into your

manage that loss but that's a dead human species to be

protect what you already have and then it's only afterwards

bouncing around the Savannah in your jeep, you know, you might

you may as well have a sabertooth target coming

predict what's going to happen next in the future but then,

need to close the trade early until your profits and run to

that you made now if you've traded before then I can pretty

environment and when humans didn't have all the cool tools

in the uncertainty of the markets. You've got risk there,

outcomes you don't control whether or not you want to lose

the markets, it's likely your brain will start finding any

control and they continue to make the correct long-term

going to prevail you know against all odds that rocky

have great success demo trading with fake money when they're

and it makes a decision, you know, based on that past

because they're sitting there pushing their agenda thinking

your brain literally plays tricks on you So what do you

and it's used against us. Suddenly, what used to be so

bringing that ancient brain to the game and your emotional

survival instincts it takes over your decision making in

thrival. It's the most advanced part the brain and activates

place where you take money out of on a fairly regular basis

literally asking this caveman here to deal with the computer

odds I can make this thing happen when in fact what you

uncertainty and when you're trading with real capital at

is necessary for survival and it's the most primitive part of

learning about whether or not that information presents a

testosterone it really has to help you make you think you're

brain when you're training. You see, every human has two

the mind that you brought into trading it's not going to be

traders will actually move their stoppers to break even

they take a few loss is they start to doubt and hesitate

let's flip the script and pretend you're one of the

business in the markets and they're always going to be

pains, it can be very costly to your trading account balance

pleasure and avoid pain at all costs. This part of the brain

enormous motivation to win you know you can see the vision you

market with real capital at risk you just have this

training but when you are stress the amygdala, your lower

boils down to the problem of the brain uncertainty. Why?

demo training because there's no real capsulate risk right

quick look at what's actually going on biologically in your

brain relatively similar to ours now in particular the

certainty. So, it's important to realize that all training

be right, and it's built to try and predict the future. You

your brain short-term survival orientation is going to

business travel or office rent you would see it as a necessary

you don't control whether or not you're right or wrong

lower minded animal that constantly wants to seek

become a good ambush predator. You don't go chasing after

Why? Because you don't allow the trade, the room or the time

always predetermined and capped on every trade so the loss of

know in conventional business your profit is the difference

risk, right? In an uncertain environment of the market, then

back to the market what you already have that pain is too

risk managing correctly. Now, the problem, it really all

there's no threat to life to the low animal minded brain so

attempt it but you can't bring that into the markets. You're

On any given day, most of your choices as a giraffe, like what

decisions that's required for consistently profitable

your money on the line. Scary stuff, right? But that money to

caveman brain, your amygdala, it's constantly just waiting to

know you wouldn't think that your business is losing just

understand that saving and investing money, right? To

we are that's what we bring into the game of trading we

impact on your trading it's a terrible a model to transfer

but a part of running that successful business right? You

over and apply to trading the financial markets. Remember,

successful training is far from normal. In fact, it's the

prominent regardless of how skilled you become but risk is

too early before their actually strategy dictates when they

aware that over the long term, that's a recipe for disaster.

for your edge to work in the heat of the moment 80% blow up

if you just did not let your primitive animal brain take

caveman brain, all it does is see all uncertainty as a direct

and get rid of that pain by trying to be right and make

that when you get in there and you start trading live in the

market. Successful training is a game of probability not

bring an old ancient mind rooted in survival instincts

the mind that produces success in trading you know

know I'm going to be losing a lot so I need to be able to

completely different things. You don't have to think I have

lot of people they find that they have great success with

thinking brain right into the higher cortex and that's why a

hard-earned trait that allowed us survive in that short-term

that makes up your daily life has been created in a very

on probability, not certainty. In fact, what happens is you

and execution. So this part of the brain is necessary for

survival, we bring it into the long-term survival of trading

used against us in trading. Because in trading and in the

completely different. The environment of trading is based

trait, we're not going to be the human beings that we are

that need and desire to win, that desire to project and

responsible for self governance, strategic thoughts

inheriting it became a part of our geno and without that

amygdala. The second is your higher minded animal and it's

the brain and it activates the emotion center which is your

distinct parts to their psychology. The first is your

so good and helpful for us. A 00, 000 years ago getting lunch

small window of time. A lot can happen in 100 years. But from

to deal with the probability and uncertainty of trading

calm but when they deal with real risk when your real

were not designed and did not evolve to solve the problems of

that dream. You start chasing that dream. Then, you start

know, we all want to love and to do that and these are

brain is hot wired to think that they are. So, let's take a

If you save money now, you'll have enough for retirement

we find it very hard to suffer the pain now for the delayed

capitals on the line with an uncertain outcome suddenly the

want to conquer it but the problem is that desire and that

purpose? Should I change jobs? Unfortunately, human brains

actions instantly deliver clear and immediate outcomes. Now,

office rent insurance, you know paying the staff their wages.

component of running the business but also a key part of

There are running costs which you would identify as expenses

as an important tweak in your perception of results in the

I really doing the work I was meant to do? Is this my

not to win and avoid losing. Your goal is not to be right.

I'm not someone who believes in awarding everybody you know a

taught from a very young age that only winning is rewarded

to eat or where to sleep or when to avoid a predator, make

most of the choices that you make today, they're not

profits way too early because the pain of potentially giving

potential of reward that you know that your strategy aid

hungry, you walk over a munch from a tree. When a storm rolls

in what researchers call a delayed return environment. So,

scientists call an immediate return environment because your

quickly as possible, you know, when your strategy says that

its ability to actually succeed and become profitable. In

separates you from the humans, perhaps the biggest difference

trading, losses should be viewed as expenses. Now,

of a sudden your survival instincts kick in and suddenly

wants to protect you at all cost from the pain of

provides an immediate benefit to your life. When you're

on the present or the very near future. You live in what

group of humans driving around on a safari taking pictures of

that's seven feet long and every now and then, you spot a

sales of a product or a service and then your costs such as

money by forcing on the market without being patient and

because what you're engaging in is randomness you're engaging

brain, modern society is incredibly new. It's only

your picture is that nearly every decision that you make

grasslands of the African Savannah, you have a neck

and winning, with both being right and wrong. Your goal is

death loop that many FX traders find themselves in. You know,

every day. Speaking of work, Is it time for a career change? Am

recently during the last 500 years or so that our society

the perspective of evolution, however, 100 years is nothing.

shelter from a storm, many of the problems that humans worry

a delayed return environment. We have the thinking ability to

start noticing in trading is that you do not control

complete opposite from most ventures in life. You need to

and now you've got a big challenge. You've got a short

the market and all themselves so they revenge trade to try

and you think, wow, you know, I really could do that. You've

reward later. The remains in modern humans are approximately

participation medal just for taking part in something being

the pace of change has increased exponentially

threat. Everything uncertain was a threat and a danger to

and that brain is activated by stress. The traders need to

you is the risk of life to the caveman that is your ancestor

that were good for us way back then and then you discover that

and then take the risk or you lose a chance of reward. Now,

our ancestors. That's the brain that you're bringing to trading

think, this Safari's been a lot of fun. It'd be pretty cool to

invincible so that you can catch food otherwise you never

necessarily going to benefit you immediately. If you do a

that is from your distant past unfortunately your inner

great and your caveman brain takes over and it tries to

good job at work today, you'll get a paycheck in a few weeks.

thinking that way you know 50 to 100, 000 years ago but here

to win. What you're doing is saying, I'm calculating and I

The modern human brain spent hundreds of thousands of years

designed to value those immediate returns. You know,

trading looks so simple. You can see this probability stuff

you but it's not just your neck and their cameras that

anything, become anything against all odds. Suddenly it's

neocortex that is the newest part of the brain and the

mentality had actually became a trait that we all started

skip to avoid that potential pain those trades end up being

successful that this need to win this belief that I'm

compromise your need to take a long-term perspective in order

of our problems as well. While a giraffe is worried about the

the way that the emotional brain learns it locks it in and

200, 000 years old and these were the first humans to have a

then it becomes a pattern and that became a trait that was so

across the plains, you take shelter under the brush. When

can think and understand that it's a logical thing to do but

their strategy or their own ability so they skip the next

trade or two in order to avoid that pain of potentially being

they play the break even dance for the rest of their trading

was roughly the same size 200, 000 years ago as today. So what

this means is you are walking around with the same hardware

careers. So what's going on here? Why do we as humans

I'm going to win I'm going to win I'm going to win at all

might seem a little bit weird so bear with me but let's

and in the blink of an eye, the entire environment changed to

no houses or guns we had these little spears against these

position is going to get even worse. You're hopeful that it's

as your paleolithic ancestors. Now compared to the age of the

to win or the need to be right that has a hugely detrimental

embrace uncertainty. You need to learn how to accept the risk

work as a park ranger, you know, I could see giraffes

trades, you wait for the opportunity to come to you,

compound it for a comfortable retirement later in life, we

potentially taking a loss. You know, it wants to remove that

because when you're sitting in this trade, you're seeing that

later. Many aspects of modern society are designed to delay

seen the rise of the car, the airplane, the television, the

you spot a lion stalking you and your friends, you run away.

about are problems of the future. For example, while

region responsible for higher functions like language and it

rewards until some point in the future, right? And this is true

immediate problems like avoiding lions and seeking

calculator and you look at it and you go, my god, I can make

an immediate impact on your life. You are constantly focus

those critical moments and that's why right when people

the winning trades in their edge now they're pissed off at

us from a time that doesn't even exist anymore you are

has shifted to a predominantly delayed return environment and

wrong again or losing money but then those trades that they

humans vacationing on Safari. Unlike the giraffe, humans live

free. You know, you get intoxicated. You start dreaming

by the same subconscious human desire to simply avoid pain at

pretend for a moment that you are a giraffe. You live on the

waiting for high probability setups so what inevitable

behaviors are all ultimately caused by what? They're caused

between you and your giraffe friends and the humans taking

constantly try to avoid pain? Well, to understand that, this

over the long term and here's one such example of a typical

happens. They take my losses and the cycle repeats itself

just wants you to win and to survive at all costs now whilst

game is very different you know we carry a lot of baggage with

protect you to protect what you have in your tight grasp it

away from you. And if you are losing 1000 pounds, you're most

looks so easy no longer becomes easy and we take that

a loss now. So, you just want to remove that risk as

risk that you have off the table as quickly as possible

land on top and win and that was Olympic learning and that's

helpful in modern business and corporate careers, you know,

holds and you know you potentially could have banked

when we get into trading and everything goes bananas, what

way back and you think, well, you know, I don't want to take

today and you know what? To be fair, it's actually really

you're running a nice profit. Let's say you're running about,

environment that we grew up in through revolution, they're

good, so adaptive for us, that belief that we could conquer

huge awesome predators we had to believe that we're going to

literally to just sit there and to fight digital candlesticks

odds we were going to survive because we're in a very hostile

could literally kill you. We needed believe that against all

all day long. Those survival instincts that they used to be

caveman is doing the trading when you are stressed primitive

a lot of money. I can get rich quick. I can be financially

done the numbers, you played around on the compound interest

motivation to win at all costs it comes from the very mind

delayed returns but this is a problem because your brain was

evolving for one type of environment, immediate returns

that that 1000 pounds is going to be snatched and taken

longer hoping that that 1, 000 pounds is going to turn into

on and on with the rest of these common examples but these

all costs. The real problem is that avoiding those perceived

personal computer, and the internet. Nearly everything

going to turn around. And if you want to have a fighting

if this position turn around? You're not fearful that that

want to jinx it. People are fearful when they should be

compared to prehistoric times. In the last 100 years, we've

then you need to turn this around. You know, I could carry

chance of making money in the markets. Making the markets a

Because the person who has lost 1, 000 is far more likely to

position that is making you that 1000 pounds. You are no

likely going to sit there thinking wouldn't it be great

do I mean by that? Well again, imagine you are sat in a

could disappear. Now, let me ask you a different question.

hopeful. And people are hopeful they should be fearful. So what

old and its primary function is to keep you alive at all costs

2000 pounds or 3thousand pounds. Nope. You are fearful

that? Well, because I want to take it easy now. Nope, you

that the market is going to take back some of your profits.

pain, your lower animal-minded brain. So, it doesn't matter

pounds for the day and god forbid that those 500 pounds

losing 1000 for the day. Which one of in that situation is

I am winning so I'm reducing my position size. Why would you do

hey, you can't go broke by taking a profit but this is

most likely to carry on trading. The person who has

preservation. Now, your state of mind where everything is

pain. It wants to make sure that you maintain your ego

extremely insightful findings in the data. Now, remember that

Imagine that you made 1000 pounds on the day versus you

not bad whatsoever. So, what's going on here? Well, the

do anything to protect that and hold onto that. Because that

that is an extremely significant sample size that is

losses run why am I doing that what am I telling myself well

nice and rosy and good so you'll do anything to avoid

carry on trading because God forbid he carries that pain

and I would love to make sure that you never experience any

just a section of my trades or your trades you could say oh

they gained on their winning trades. Now, you know, this was

turn around in my favor but the real reason is I would like to

I'm telling myself of that I hope this market is going to

still you avoiding pain. Why? Well because you hate the idea

actually 62% of the trades were winners. There were a

feels so good to have made one thousand pounds. So I don't

made 1000 pounds or the person who has lost 1000 pounds.

significantly more amount of winning trades than losing

problem is is that when they won, on average, they gained

avoid pain. We have a brain that is at least 200, 000 years

what scenario I throw at you. I'm taking my profits because

of that pain. But when he's made one thousand pounds he'll

well maybe it was just a bad week or a bad month but when

trades, what percentage of those trades do you think were

million trades over a 15 month period and he found some

trades. Yep, the FXCM traders were good traders it would

you can see their behaviour that is not simply bad luck

seem. They had a good strike rate of 62 percent and that is

want to avoid pain. You can't bear the fact that you made 500

winning trades? Well, it may surprise you to see that

with him on into the night and he will do anything to get rid

on that is resulting in those statistics I'm letting my

you look at 25, 000 people across 43 million trades and

worthy of investigation so what is the normal behaviour going

forty-eight pips but when they lost, they lost 82 pips.

over 70% of FXCM's clients lose money. Out of those 43 million

Traders lost over 70% more pips on their losing trades than

that, first we must understand, what does normal trading look

he looked at 25, 000 traders who executed a total of 43

make money and I'm about to prove that to you in a second.

society who hold down jobs just as well as everyone else does

Because if 70 to 80% of people are losing money, then I think

trade as trading should be done. You know, normal does not

to me but the sooner that I accept that the nature of

like? How does a normal person think? Well, in two thousand

children, you know etcetera etcetera but they can't trade

of their winning and losing stats on their websites but it

nature of trading. You see if there are 100 people and 75 of

problem and the sooner that you accept it's a human problem the

and fifteen, a quantitative called David Rodriguez. He

trading is basically random then the sooner I can into

them are losing as it shows on the broker websites then this

differently? Well, to understand and deconstruct

well in this business long term. You need to have a very

for **** Why? Why is that? Because they simply think like

special relationship with both losing and with winning.

normal, perfectly rational, well-functioning people within

everyone else does. They haven't learnt how to deal with

people think well you know this stat doesn't apply to me

hasn't why because people know it people are aware of it but

analyzed trading data from the popular retail broker FXCM and

industry when all of the brokers had to put you know all

are intelligent whilst pay their taxes, look after their

fear. So what are the winning 20 percent of traders doing

it was probably going to be the end of the retail effects

a favour in a sense because they have highlighted the true

anymore than the warnings on the cigarette packages applied

it's pretty safe to assume that 70 to 80percent of people are

You cannot have a standard attitude about money and do

sooner you can do something about it you know I did think

is no longer a technical analysis issue. This is a huge

completely normal by the way but of course our goal is to

losing money now little bit like the cigarette companies

didn't stop people from smoking and it certainly hasn't stopped

find that there is a bit of a gap from your life performance

actually required by law to show up on top of the front of

skyrocketed in the last few years Esma has actually done us

brokers operating in the European Union they are

showing photos of people on you know their hospital beds with

the homepage and their websites how many of their clients are

try and minimize that discrepancy as much as possible

but what's actually going on here what is causing that

being forced to put warnings on the cigarette packages and

high as you'd found from when you tested your trading plan

since the establishment of the rules by Esmo in 2018 all

were to trade it perfectly and if this happens this is

the interest for retail trading in fact demand has actually

all types of cancers and horrible diseases yet that

you a proven edge in the market now once you start trading it

live market with real capital on the line what you might find

performance discrepancy and how can we close that gap well

is that your actual performance and results are not quite as

compared to what the actual strategy is providing if you

and you saw the potential that your strategy holds now you may

potentially even on demo but especially when you're in the

technical skill set with this strategy and then once you have

building case studies through back testing forward testing

created your trade plan you will prove the profitable edge

that your strategy holds and you will prove this through

that you are in command of a profitable strategy that gives

will then spend time performing exercises to develop your

through trading on a demo account and before finally

out, successful training is actually the complete opposite.

learn the photon strategy and our approach to the market you

be on developing and mastering your strategy. So that's why

trading it in the live market so that you know 100%

certainty, you know with every bone and fiber in your body

It's 90% strategy and 10% psychology. Your focus should

you will watch the technical analysis module and you will

the all of the teachings in this course is designed so that

lose money over the long term. Therefore, I think as you start

command of a profitable strategy, you're still going to

plan is **** and it's not profitable, it doesn't matter

strategy does not have a proven profitable edge, your training

That's great. You know, it really is but if your training

psychology in the world. You are fortunate enough to be born

suited to the uncertain world trading. Well, good for you.

how good your psychology might be because if you are not in

second that you have the most amazing bulletproof trading

with a brain and a mindset that was perfectly designed and

you know, some similar version of that but I actually have a

bit of a different view on this because let's imagine for a

world of trading, then you've probably heard people say that

successful trading is only 10% strategy and 90% psychology or

Are you destined to fail at trading? Unless you've been

living under a rock or you're completely brand new to the

greatest opportunity.