Trust your plan and stick to the process! (YouTube Video)

Traders Mindset

I’m still in the process of learning how to make YouTube video’s, but I’m having fun while I learn.

Here is one I put together about Traders Mindset. Unfortunately YouTube said I had copywrited some music and told me I needed to change it.

Once I had uploaded new music to the first half of the video, you couldn’t hear me speaking anymore. I have no idea how to edit video’s once they are uploaded as YouTube changed the music for me.

It’s all a learning curve.

I hope you enjoy it or get something out of it.

Script:

0:11 2 years ago I started on my trading journey

0:16 I didn’t realise just how hard it was going to be

0:19 Little did I know back then……

0:22 Just how big a part the mindset played in being successful

0:26 DISCIPLINE (Part 1)

0:31 Discipline is rarely enjoyable, but almost always profitable

0:36 The key is to know when to trade and when to sit on your hands

0:41 Knowing when and when not to trade is important

0:46 Sometime not trading equals to having a profitable trade

0:49 Discipline + Patience = Success

0:57 EMOTIONS (Part 2)

1:02 FOMO Fear of missing out

1:05 The fear of missing out is a common trait in humans in many walks of life

1:10 For traders this is especially true

1:13 The fear leads to entering trades without enough thought

1:17 Social media can be a big cause of FOMO

1:19 It stems from the feeling that other traders are more successful, and it can cause high expectations and over confidence

1:27 5 things a FOMO trader might say……..

1:30 1 – Im scared I’ll miss a good opportunity

1:32 2 – They must know something I don’t

1:35 3 – Just think how much money I can make

1:39 4 – Hmmm, I ‘ll give it a go7

1:42 5 – I should of known that would happen

1:46 GREED

1:48 Greed is a traders worse nightmare

1:52 We have all been guilty of hanging on to winning trades too long

1:56 To be successful we have to get rid of that get-rich quick mentality and look at the long term plan

2:13 PATIENCE (Part 3)

2:17 Patience is key to trading

2:21 Jumping in and out of trades for the sake of it is the quickest way to the poor house

2:25 Stick to your trading plan

2:28 Once you commit to a trade, very little should cause you to second guess your decision

2:33 Trust yourself and believe in your plan

2:39 Don’t focus on money, focus on the process

2:43 You won’t get rich overnight

2:46 But you could lose 1000’s overnight

2:49 Focus on the journey

2:51 Everbody’s journey is different

2:54 What works for me might not work for you

2:57 Everbody has a different way of learning

3:00 Do what works for you

3:04 Sports Trading is a psychological game, play better than anyone else

3:08 You are not playing against the markets

3:11 You are playing against yourself

3:14 Embrace uncertainty and risk

3:17 Accept mistakes – Each mistake offers an opportunity to learn

3:21 On the other side of struggle is…….

3:24 Something good

3:25 Something better

3:27 and Success

3:29 Keep striving

3:32 Never give up!

3:36 You have the why

3:38 You have the passion

3:41 You have a purpose

3:44 This game is mentally tough

3:47 Only the strongest and most determined will SUCCEED

3:52 GOOD LUCK

You can visit my YouTube channel here


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