Module 1: Students Only Trading Psychology

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LESSON: Members Only Trading Psychology

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[op_liveeditor_element data-style=””][text_block style=”style_1.png” align=”left” font_size=”16″ font_font=”Montserrat” font_color=”%237e7e7e”]Hello members,

welcome to the Forex School Online trading psychology course.

I am weird in the fact that I actually love this part of trading and I could talk/write for another 30 pages about this topic. I realised pretty early on that in the majority of cases it is not the strategy or the method that is holding a trader back when they are having a problem moving forward a attempt after attempt.

What is stopping them more often than not is right in front of them.

The problem I have found over the years is that especially people who we have in here as students are exceptionally smart people. Most are well above average educated and higher paying type jobs in their communities. This can have it pitfalls because these types of people > you will more often than not be looking for the complicated where there are none, and I have found when I have pushed time and time again traders spend their time on psychology, they switch off.

This is logical and common sense. We make entries with trigger signals and support / resistance can help us right now – these are exciting.

However; NOTHING will change your results like this course can… NOTHING

Why? Because it does not matter if you become the greatest pin bar player in the world ever in the history of price action, if you do not have a mindset that allows you to manage your trades and make great decisions CONSISTENTLY you will fail.

The traders who manages his trade and edge with great decisions time after time will FAR out-profit the other trader making better entries, but then turning to mush and making errros like cutting profits too short and letting losers run, making follow up revenge trades, making extra trades in bad market times through fear etc, etc.

The Course is Not Just Fear / Greed!

All the emotions I have written about in here I have experienced or seen firsthand. When I say not to do something, or advise it is best to do something, it is because it has either cost me money or I have seen it cost someone else money.

It is a cold hard fact, that the difference between the traders who make money and the traders that don’t is their mind, and how they think and perceive the markets to be. How is it I can teach two traders exactly the same method and yet one trader will clean up and make a lot of money and the other trader will continually go on losing?

Now how many of you have brushed off this subject and just said “oh yes I know I should take it more seriously” and then you go on working on perfecting your technique of your price action setups and/or entries etc and see your hard work on your strategies have minimal difference?

If you start working on your mindset, how you think about the markets and how you deal with losing as well as winning, your trading will start to improve dramatically.

Like everything in our lives that we want success with, changing how we perceive the markets will take time. As I said above the reason so many people lose money is because of their mindset. The only reason people begin to make money is because they either experience enough pain that they give up trying or they force themselves to change their ways.

The correct mindset for trading is the exact opposite of that which we are taught in our everyday walk of life. This is the reason why it comes so unnatural to nearly everyone and also the reason why no matter how unbelievable the system a trader has, they will still normally lose money over the long run! It is not the system but the trader’s mind, hence why traders are so addicted to expert advisers and black box systems. People will do anything to not accept responsibility for their own actions, more on that later.

I hope you enjoy this section on trading psychology and can implement it into your trading. Some of the following is advanced and contains information most would never have heard of before.

I will try and keep it as simple as I can and talk in a conversational tone to make it easier to explain. The last point I want to make before cracking on is, sometimes through this part of the course I repeat myself or explain something twice or in two different ways. This is not a mistake.

The reason I have done this is either because it is a very important point that traders need to have reaffirmed to them, or a particular point is needed to be explained differently for the different circumstances.[/text_block][/op_liveeditor_element]