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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