Most traders don’t lose because of their strategy—they lose because of their psychology.
Transcript
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What’s going on guys? So, we’re going to talk about trading psychology, how to take a loss, how to move on from a loss. Uh before I do, I stream live every single day 9:00 a.m. to noon and then again 2:00 p.m. to 4:30. Subscribe below to uh watch me trade live. Also, come on, ask any questions you may have, anything like that. Also, there’s our free Discord in the description of the video. All right, let’s get into this. This is a
Perfect day to actually get into this cuz this could have broke anybody, you know, the psychology, the going to full tilt. So many people said they went into full tilt on Friday, so I figured this is the best time to make this video. So, for me personally, I was obviously long going into the Trump candle. For me, it even hurt worse because I was looking for a 5-minute close over 9:33, we’ll call it. And basically, when we went up here, I
Took the trade premature. I had premature violation. I did not wait for the close, which I should have, bought anyways, and then obviously, I took a bath. So, not only was I went against my strategy, but then I took a bath in like five accounts. So, like obviously, not following your strategy could put you on tilt. And then on top of that, getting hammered like this could put you on tilt, right? Um and it it it it it sucks. Listen, I
I was there, you were there, you know, we probably all took took hits here. My biggest thing after I took this hit, though, was what’s worse? I So, I blew one account on this. One account hit a daily loss limit. And then three accounts were basically down a thousand bucks. My stop It blew right through my stop loss. Somebody’s like, “Oh, why why didn’t you stop loss?” Blew right through my stop loss. >> [clears throat] >> Um Basically, you got to
Think to yourself, what’s worse? Starting over, paying the eval money. These are uh The ones I’m talking about were funded accounts, too. So, the five accounts I was in were all funded. You know, so I blew a funded account. One hit a daily loss limit, and then I had three down a thousand. Now, what’s worse? Now, I got to start over on an eval Like, say I go on tilt. Now, I got to start over on an eval. First, I got
To pay for the eval. Depending on what the eval is, when I pass it, I got to pay for activation fee, the time to pass it, or I can say, “Listen, I’m down a thousand bucks, right? Do I want to start over? No. Do I want to get this money back? Yes. But, you got to think, if you’re just going to take some random ass trade, what are the percentages that you’re going to make it back? Right? What are the percentages?
So, you know, I got I don’t want to say I got lucky, but I read the news. I heard the news. Um And basically, see how we swept. We basically swept um London lows. Once we came back through, I banged that in one of the funded accounts, made all the money back, plus four hundred bucks. So, then I only had two accounts left. So, that’s that I I followed my strategy. We swept London lows. We came back. I also thought the
News was an overreaction after seeing all this news that’s been happening. We basically bounced back every single time. So, being that we came back through London lows, I knew what the news was. I definitely felt that we would push up. Sure enough, we did. Um and then I just sat there with the other two accounts and said, “Hey, listen. What’s the next move here, right? I need to go back to my strategy. And if my strategy is there, I’m going to
Take it. If not, I’m not going to take it. You got to remember, every loss you take, you need a winner to make it back. Right? This isn’t just how many wins you can get. It’s you know. So, I basically took this trade. So, you kind of have a a 5-minute fair value gap closed. I actually took it right here thinking the odds would break this trend line as well and give us a nice push. Boom. Took that. Now, one of
My That was from one of those accounts. Now, I only have one left. Now, I turned that account from minus 1,000 to plus 400. Boom. I’m there. You know, I’m just waiting. I’m waiting for the setups. I’m not just chasing anything. Now, my strategy is wait for a retest. Who would have thought we were going to drop, I don’t know, 150 points? I literally took this all the way down here like 841. Boom. Right back up. My other account that was
Down 1,000 is that was down 1,000 is is now up. All it is is waiting for your setups. Because if I would have took scalps and scalps and this and that, and then, you know, the commission start eating you up. Then you you know, just wait. If you just wait for your setups, they will come and you will make your money back. I promise you that is what I do. If you just go off tilt and start doing stupid [ __
] all the time, you’re going to blow your accounts. If you know your numbers and you know, “Hey, I win 65% of the time. I’m 1 and 1/2 to 1R, 2 to 1R, whatever it is.” Whatever Whatever your thing is, right? I don’t even deal in those things. But anyways, I think if you would just wait, you just play the percentages out. You know, if you’re just getting in trades to hopefully make your money back, you’re not going to make it
Back. So, I just sat, I waited, and that’s it. And listen, if you have problems waiting, you should get something to do on your computer. Play a game. Hang out in the chat. Talk to people in the chat. You know, that’s what makes the the the chat during the day great is it can take your mind off of wanting to press the button every few seconds. You know, go do research on stuff. Have another Have a job. You can have a
Job while you trade. Work at home. Take your mind off of needing to hit the button every second. All these things will help you out when you’re not sitting here being like, “I need to trade. I need to trade. I need to trade.” Trading is waiting for the right setup, getting in, and getting out. It’s not, “I need to make my money back.” There’s nobody that makes a book and the book says, “I need to make my money back cuz I
Went down.” All right? So, find something to do to take your mind off of it and let you just wait for the right setups. And that’s it. If you have any questions, come on the live stream and ask.
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