June 12, 2024 • 40 mins
I’ll say straight-away: The content of this latest episode is a bigger deal than most traders think, making it a “must-listen to” podcast.
In the episode, Darko gets into the emotional challenges of forex trading in tough market conditions, where it is most likely for a trader to make trading mistakes. (You might be surprised at some that Darko has made).
Sharing his personal experiences, he highlights the frustrations and mental battles traders face when markets “go sideways”.
You’ll hear Darko stress the importance of recognizing and managing these emotions quickly, to protect both mental capital and trading performance. You’ll also hear him talk about some very specific self-sabotaging activities that are a sure sign you need to hit the re-set button.
Darko is well-known for being direct and honest, and no BS. And he’ll share some valuable insights into techniques for maintaining a professional trader’s mindset.
Listen to the podcast here: https://www.spreaker.com/episode/episode-54--60364914
Join our CC Starter Service now. Get to know us better...it's 100% FREE: https://www.forexmentor.com/ccstarter/
Thanks so much for listening. Please take time to rate the podcast, and let us know if you have any questions.
Vic Noble, on behalf of Darko Ali vicnoble@forexmentor.com darko@forexmentor.com
Darko’s forex training service: https://www.forexmentor.com/cc/
Our summer special CC pricing is here until June 21: https://www.forexmentor.com/cc/summer/
Facebook: https://www.facebook.com/fxcoachscorner/
YouTube: https://www.youtube.com/c/forexmentor1
Twitter (X): https://twitter.com/fxcoachscorner
Podcast: https://www.spreaker.com/user/fxcoachscorner
Linkedin: https://www.linkedin.com/in/darko-ali-52ba7583/
In the episode, Darko gets into the emotional challenges of forex trading in tough market conditions, where it is most likely for a trader to make trading mistakes. (You might be surprised at some that Darko has made).
Sharing his personal experiences, he highlights the frustrations and mental battles traders face when markets “go sideways”.
You’ll hear Darko stress the importance of recognizing and managing these emotions quickly, to protect both mental capital and trading performance. You’ll also hear him talk about some very specific self-sabotaging activities that are a sure sign you need to hit the re-set button.
Darko is well-known for being direct and honest, and no BS. And he’ll share some valuable insights into techniques for maintaining a professional trader’s mindset.
Listen to the podcast here: https://www.spreaker.com/episode/episode-54--60364914
Join our CC Starter Service now. Get to know us better...it's 100% FREE: https://www.forexmentor.com/ccstarter/
Thanks so much for listening. Please take time to rate the podcast, and let us know if you have any questions.
Vic Noble, on behalf of Darko Ali vicnoble@forexmentor.com darko@forexmentor.com
Darko’s forex training service: https://www.forexmentor.com/cc/
Our summer special CC pricing is here until June 21: https://www.forexmentor.com/cc/summer/
Facebook: https://www.facebook.com/fxcoachscorner/
YouTube: https://www.youtube.com/c/forexmentor1
Twitter (X): https://twitter.com/fxcoachscorner
Podcast: https://www.spreaker.com/user/fxcoachscorner
Linkedin: https://www.linkedin.com/in/darko-ali-52ba7583/
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:28):
All right, let's get started darkerhere. I'm the lead coach for my
long term trading service within Coaches Cornerat four x mentor Big One. Welcome
to my podcast and episode fifty four. And as you all know by know,
all the links about our social mediawill be in the text below this
(00:49):
episode, so feel free to followus on social media. As you all
know, we have summertime finally arrivingto Sweden, and I'm enjoying lots of
time outdoor, getting tann and youknow, taking long walks, you know,
just trying to be outside and getsome fresh air. I'm looking forward
(01:12):
to do some road trips in summerand obviously spend some time with my you
know, quality time with my kidsand loved ones. And the summer part
of the year here in Sweden isjust like magical, so you know,
just going around in Stockholm eating icecream and just walking around and taking all
(01:33):
the energy around you. It's justjust great. So happy times. So
let's just dive in directly into today'sepisode that will be about you know,
the current market condition that we havebeen dealing with for the past i would
say month or two, you know, and all the frustration that comes with
(01:56):
it, even if you are aprofessional trader, and the importance of identifying
those emotions before it affects you andyou know your mental capital and obviously you're
trading. And I always make sureto record these episodes while I feel those
(02:19):
emotions, which makes these episodes asauthentic as possible, because you know,
by the time market goes back tonormal, whatever normal is nowadays, then
I, you know, tend toforget about these current emotions that I'm feeling
within right now, and the podcastwon't be as real and authentic as I
(02:46):
prefer them to be. As youall know by now, I'm a long
term trader. I'm long term tradingfor my service, which means that we
are both swing trading and position trade. I would say the vast majority of
my trades has been swing trading orswing trades lately. So and when the
(03:09):
market, you know, have beengoing sideways for many of the pairs that
we are focusing on, I wouldsay, like around like eighty percent of
the pairs right now are going sideways. And I tend to spend lots of
time to you know, trying tofind valid trades and you know, looking
(03:30):
at my charts back and forth morethan I'm used to, which is a
bit time consuming to be honest withyou, and I will tell you why
later on on this episode. Youknow, the best traits is, you
know, are the ones that youknow, I see within minutes if not
(03:51):
seconds, and they just stand outto me like a shining star, almost
like without any effort, you know, win, lose, draw, I
couldn't less. And then when themarket is giving you a hard time like
it has been doing lately, youknow, I just tend to overlook things
(04:12):
and start, like, you know, you start doubting your ability to find
great traits. After a while,you might think, you know, there
must be a great trade somewhere thoughI can't see, but you can find
it, and your brain start playinggames with you. You know, you
might start ask yourself, am Ilosing my ability to find great tradits?
(04:40):
Or you know, does my tradingsystem not work anymore? Or have I
lost you know, lost focus ormotivation? Like what's wrong? Okay?
So these are the emotions that usuallycross my mind when the market, you
know, giving a hard time.I assume as always that you are feeling
(05:03):
the same feelings, because I canbe the only one having these thoughts,
right at least I don't think so. We are all human beings, and
you know, we have feelings andemotions. No, and this happens regardless
of how long you have been trading. So it's like it's a super important
(05:26):
subject to talk about that many peopleout there try to avoid. Most people
don't want to show any signs ofweakness, or maybe they feel embarrassed.
Most people tend to only show youone side of the story. Well,
not here, my friend, nothere. Here is where you get the
(05:49):
brutal, naked truth about trading,the good, bad, and bugly side
of trading, without holding anything backfrom you. Okay, so some traders
might think that they are the onlyones having these, you know, those
feelings, like like I did backin the days. You know, I
(06:12):
was embarrassed to talk about my feelingsand emotions. I didn't want to come
across as weak because everyone else aroundme, or at least on social media,
seems to be so confident about whatthey are, you know, what
they are doing, because back thenI didn't know any better, which I
do now. And that's why it'sso important to tell the truth, regardless
(06:36):
how hard and embarrassing it might be, and most coaches out there pretend to
be someone they are not. Youknow, they tried to play cool in
front of their clients and followers.Well, when it comes to me,
(06:58):
whatever everyone else avoids talking about,I love doing those episodes, okay.
Same goes for exposing my emotions andfeelings not only around trading, but also
outside of trading, because I'm nothere to impress any clients or listeners.
(07:19):
So whenever I deal with any tradingrelated but also non trading related issue or
challenge or obstacle, I tend tograb the mic and tell the truth basically,
or at least my truth. Itdoesn't need to be your truth,
but it's my truth, okay.And my clients tend to hear me speak
(07:43):
about this stuff, you know,like this on regular basis, or at
least, you know, whenever somethinghappens obviously, like if I happen to
miss a trade or two, Ialways mention those in my next coming pre
market analysis that I'm providing twice aweek, sometimes more so. Yeah.
No, sure, I would havebeen more than happy to quote unquote brag
(08:07):
about my results lately, but Idon't have much to brag about the market
has been giving me a hard time. And this is absolutely not the first
time I'm dealing with these emotions andthese you know, these kinds of emotions,
and it definitely won't be the lasttime. So why is it so
(08:28):
important to talk about this? Okay? Well, the only difference between a
struggling trader and a professional trader isthat the struggling trader start jumping systems or
system you know, and start lookingfor another shiny object. We all have
(08:48):
been been there, right, Idid that for many many years, because
you might think that there must besomething out there that is much better that
you know, you know, thatyou don't know about just yet, and
you have to find it, Okay, because how could it be possible to
(09:09):
not see or have any trades fordays or weeks were obviously depending if you
are short term trading or long termtrading, but there are times when you
don't have trades for days, weeks, maybe even months, or at this
you know, for an entire month, and when you start jumping system or
(09:30):
services, then you go back towhat I call the never ending cycle that
I talk about in many of myprevious podcast episodes. You all know the
story by now, right, ifnot, well, make sure to listen
to all of my episodes and youwill know exactly what I'm talking about.
(09:52):
The professional trader, though, heor she identifies those emotions as soon as
possible, and they, you know, they stay away from the market until
they start seeing trades based on theirown game plans. And you know the
feeling when you start seeing things againwithout any effort, and this, you
(10:16):
know, the trade starts presenting themselvesand they start, you know, standing
out like a shining star. Sowhile the struggling trader keeps jumping system systems
and services, the professional traders spendthat amount of time doing some chart exercising
(10:39):
and sharpening their skills and tools bydoing their homework, you know, journaling,
taking screenshots and notes, maybe evenwriting diaries about their emotions so they
can go back and read it everytime the market behaves outside of their game
plan. Then you just you know, realize that this is not the first
(11:01):
time, obviously, and you canread how you took yourself out of this
phase by just sticking to your gameplan. So it's not you know,
only important to journal your trades,but only journal your emotions because regardless how
great your trading system is. Trustme when I say this, Your trading
(11:24):
system will dry out at some point, and it's your job to identify those
faces in your trading and truly acceptit. Because understanding and accepting is two
things. Okay. You need toboth understand and accept it most importantly.
Okay, So you don't self sabotageyour own trading journey. You just need
(11:48):
to, like I said, understandand accept the reality of how trading works.
Okay. So rather than just jumpingsystems, learn you know, learn
to know the pros and cons withyour trading approach. Okay, know when
(12:09):
your trading system sucks in the marketand when your trading system will give peak
performance and you can make yourself agreat amount of pips. And like I
said, trust me when I saythis, there is no trading system in
this world that works in every marketcondition. Never. And sure you can
(12:35):
always, like I do, enhanceyour trading system along the way and find
new ways to attack the market withoutchanging you know, too much back and
forth, not changing your foundational rulesof trading. Nothing wrong with that,
okay. So therefore it's super importantto understand your own trading system and be
(12:58):
okay with the fact that there willbe times when your trading system is not
working with the current market conditions,okay, and there is not much you
can do about it. And don'ttry to find something that works all the
(13:18):
time, because you will be searchingforever. And trust me when I say
this, if that was possible,I would have found that long time ago,
because no one else spends as muchtime in front of their charts,
you know, chart exercising like Ido. If you try to find that
(13:43):
system or combine too many trading stylesfor all type of you know, market
conditions, you will just overwhelm andconfuse yourself and you will end up missing
most of the trading opportunities that youwould have been seen in the you know
in the first place. So don'ttry to reinvent the wheel or you know,
(14:05):
never fix what's not broken. Solet's say that you are a trend
trader, okay, and you knowexactly what to look for when the market
is trending. That means your tradingsystem will dry out when the market is
(14:26):
ranging. And obviously you need tohave you know the knowledge on how to
identify a trending market condition, butalso most importantly, identifying when the market
goes into a ranging mode. Okay. Same goes obviously for the opposite.
Like if you're an expert trading rangingmarket conditions, and you might have the
(14:50):
best trading system in the world,but when the market start trending, then
your trading system will stop working thewhere you are used to and you need
to know, you need to understandand like I said, most importantly accepted.
Okay. What works for me isthat I have my own design trading
(15:13):
system where I identify the trend inmy own specific way, which I call
advanced market flow. But I alsouse advanced market flow to identifying ranging market
conditions before everyone else sees it.Okay. In the market, that's super
important because usually unless you know whatyou are doing, you see the market
(15:37):
is ranging just after the fact,basically like when it's over okay, And
by the time you identify the rangingmarket conditions okay, the markets starts trending
and you are always several steps behindthe market and miss all the moves in
the market, or at least you'rejust able to see those in hindsight.
(16:03):
And as far as I know,hindsight won't pay my bills. Okay.
You always see things when it's toolate basically, when everyone else sees those
things, and that's way, waytoo late, because as we all know
by now this is fact, thebest majority of traders are losing money in
(16:26):
the market. Okay, if yourtrading system works, you should be seeing
those things way before everyone else,otherwise you will never catch the meat of
the market, so to speak.Okay, so let's talk about my personal
experience dealing with these emotions for thepast month or so. You know,
(16:51):
we started the year by having somegreat trades, you know, and I
thought like, here we go again, another great month or months or coming
to an end. And I wentwith that mentality into the next coming month,
which is the first mistake I did, Okay, And I always tell
(17:15):
my clients and listeners that if youlose or having a losing month, which
which is completely okay, you know, forget about it. Don't take those
emotions with you to the next comingmonth. And if you have a winning
trade or winning month, then forgetabout it. Even faster, never take
you know, any emotions from theprevious month into the next trading month,
(17:40):
because you have no idea whatsoever whatis waiting for you around the corner.
Lesson learned. You know, weare all human and we all make mistakes,
you know, not a big ofa deal. So along the way
the way I read the market,some markets went into a ranging mode.
(18:00):
Then we start what I call pureprice action trading. And if you follow
me on LinkedIn, you know exactlywhich type of traits they are. Okay,
So I have a certain way oftaking trades when the market is trending,
and when the market is ranging,we have a different approach. So
(18:23):
my next mistake that I was,you know that I totally disregarded position trades
and mainly focused on swing trades.And you know, and whilst putting out
a huge effort to try find someswing trades to talk about in my pre
market analysis that I'm providing for myclients twice a week, like I said
(18:47):
before, we took some trades,those swing trades, and there were there
was like basically no follow through orsome of them. Some of the trades
will like start moving after weeks,and some of them even after months of
entering those trades. Like it soundslike super easy when you talk about it,
(19:10):
but just like you know, justimagine taking a trade and that specific
trade is going nowhere, like sidewaysfor weeks or months and you know,
and all the frustration that comes withit. And obviously this goes also for
short term trading, like you takea trade and it's going nowhere, okay,
and you know all the frustration thatcomes with it. And at the
(19:33):
same time you see some huge movementthat you are not in those trades,
and that's where the mind start playinggames with you unless you control it.
So I realized that I missed severalposition trades. I'm not sure, maybe
around like four or five position trades, and they were all winners, and
(19:56):
some of them big winners, likebig like you know, home runs or
at least you know, they wentfar enough to take out their risk and
have a free look at those trades. Okay, nothing wrong with that,
stress free trades, Okay. Sothe mistake that I did, which I
told my clients in one of myPMAs, was that I was so focused
(20:19):
on finding swing trades that I missedsome super obvious position trades, like you
know, no brainer trades. Okay. And even if you have a small
account size, you know, likemost new clients have, which is totally
understandable, you know, heck,just trade two micro lots, or if
(20:41):
that's too much for you, youknow, open a nano account where you
trade pennies and you just trade twonano lots, okay, just so you
can show yourself that you saw thesetrades and took them, because it's not
about the money when you are strugglingtrade. It's it's more about practicing your
(21:02):
trading system so you become comfortable withit. That's all. Okay, win
lose straw, even if like allof these position trains went against you,
as long as you are following yourgame plan. Nothing wrong with losing trades.
Geez, we have losing trades,okay, nothing wrong with it.
So what I did was I grabbeda mic like I always do, and
(21:25):
I showed all these you know,missed opportunities or missed position trades in one
of my PMAs. And I thinkit was like I said, you know,
four to five trades and all ofthem, like I said, winners,
at least going in the right direction. So we if we have been
taking those trades, those would havebeen risk free trades, you know,
(21:47):
with proper management as that that weuse, and those trades would have paid
for you know, many potential losingtraits in the future. Okay, you
know, absolutely nothing wrong with focusingon one trading style that I preach all
the time, right, but youknow, but in my case, we
(22:07):
are long term trading, and withinlong term trading that includes both swing trading
and position trading. And then obviouslythat the members can choose between those two
you know, trading styles, dependingon which no trading style they are focusing
on of their preference. Okay,so what happens with your mental capital when
(22:33):
you go into a new trading monthwith the wrong mindset, Well, what
happens? Well, now you needto deal with these emotions and disappointment for
not knowing better. You know,it's it's human error. We all do
mistakes. I'm not perfect. Fromtime to time, I do make mistakes
(22:57):
just like everyone else, even ifit takes like a while between the mistakes,
could be like anything between weeks,months, which is usually like,
could be months or even years.So let's go back to the subject,
you know, dealing with these emotionsand if that was not enough, like
after a while, realizing that shealso missed several position trades and they all
(23:22):
were you know, super high qualitytrades, you know, the type of
trads that doesn't grow on trees,so to speak. And you might say,
you know, but darko, whatif those position trades were losing trades,
like you wouldn't have felt so badabout it, right, because you
never know in advance if a tradewins, loses, or just ends up
(23:45):
break even. Right, Sure,yeah, you are completely right. But
then again, there are you know, there are trades with very super high
quality or high probability of winning.And obviously I have a certain you know,
have certain rules for those traits andthey are almost like always, you
(24:07):
know, trads that are within theunderlying trend with the higher time time frame,
you know, correcting or retracing backinto a strong level of support and
resistance. You know, those traitsusually have a very very high probability of
winning. Like I would say,eight times out of ten they are winning.
(24:27):
And that's based on stats, facts, back testing, life testing,
forward testing. Okay, and nowyou know they don't occur that often for
obvious reasons. That's why it's soannoying because now you need you might need
to wait for another threes to sixmonths until the market might give you another
(24:48):
opportunity. The reason why I need, you know, might need to wait
for that long is because obviously I'mreferring to the monthly chart, so every
candle on a monthly represents one month, and you don't need to wait for
that long. If you are doingthe same thing and you know what you're
doing, you have a specific systemlike I have, and you do that
(25:11):
on lower time frame, like,for instance, the weekly chart or maybe
even the daily chart if you areday trading. Okay, So on the
top of these two mistakes, youalso realize, now, if that was
not enough with everything that I justmentioned, you also missed one or two
swing trades. Those who are likethis, you know the traits that you
(25:33):
were looking for, because in meantimeyou realize about missing the position traits and
we're busy dwelling about those, whichhappens even to the best of us.
Not the end of the world,okay, But by adding more challenges into
your mental capital that has already beenaffected with the you know, the stuff
(25:57):
that I just mentioned, that justadds more frustration. And if you don't
know how to control your emotions andidentify these steps, okay, here is
where a struggling traders start revenge tradingand blowing their accounts. They just can't
(26:19):
stand the pain of dealing with allthese emotions that comes with trading. That's
why I'm taking my time recording thisepisode. You just need to find a
way to overcome these obstacles, otherwiseyou will be forever struggling, even if
(26:40):
they should know better. Just likeI felt, as I talked about earlier
on these struggling traders totally understand thefrustration, but they don't truly accept it,
and their mind starts playing games withthem, and a disaster is around
(27:00):
the corner. I hope that thisepisode gave you a certain wake up call
if you happen to be a strugglingtrader, and that you can relate to
some of the stuff I talked aboutin this episode, But also, you
know, have a better understanding thatregardless of how good you are at your
(27:22):
trading, we all do feel thesame frustration from time to time, and
we all make the same mistakes,even if the time between the mistakes gets
longer and longer, and after awhile it's you know, and it's like
very important to point this stuff outwhen you know they happen, so people
(27:45):
get a fair picture of trading andhave a more profound understanding that me or
anyone else who trades goes through thesame pace. The only difference is that
I can show my emotions. Istart by identifying them as soon as possible
when I recognize my state of mind, and you know, be mature enough
(28:10):
to take a step back and rethink, you know, whatever self destructive thoughts
you might have, you know,and have a game plan for how to
deal with your emotions. You know, the same way you hopefully have a
game plan for your traits. Youshould have the same game plan for when
(28:32):
you are in a certain state ofmind, like, for instance, if
you make a mistake or miss severaltraits and you start getting frustrated you know,
and having thoughts of you know,changing back and forth or on your
way to revenge trade. Okay,then you need to write down some simple
(28:53):
steps on how to deal with thosecurrent emotions and how to you know,
let let yourself take a break fora while and come back with fresh mindset,
Maybe go out for a long walk, or just don't trade for a
couple of days, like most mostlyto let your emotions to cool down.
(29:15):
So what's my game plan for whenthis happens? Everything I you know,
that I talked about in this episode, So how do I deal with this
so it doesn't happen again, orat least not anytime soon or in the
near future. Well, first andforemost, you need to ask yourself why
(29:37):
this is happening, Like, whatwas the reason that I went into a
new month with the assumption that thiscoming month will be as good as the
previous one? You know, that'sthe first question you need to ask yourself.
And then I also need to askmyself why did I miss those positions?
(30:00):
Did I see those but disregarded them? If that's the case, then
why or did you see those traits? Or maybe you didn't see those traits
until after the fact. If that'sthe case, then the same goes here.
You need to ask yourself why,okay, or maybe just maybe you
(30:23):
did see those but you didn't takethem because or fear of losing, because
the market seems to be iffy anyway, So why would those traits work when
the current traits that we are inare going nowhere? You know? Do
you you know, do you startto recognize these emotions and questions that might
(30:48):
go through your head that might crossyour mind from time to time? Super
important subject you talk about, butmost importantly, how to overcome these emotions
and grow as a trader. Andthe last question would be about, you
know, the last one or twomissing swing trades that I talked about earlier
on if swing trades were like theonly traits you were focusing on, shouldn't
(31:14):
I, you know, have beenseeing those, so you know, I
write my you know, I writedown my emotions, you know, putting
them into words, something like Ifeel angry, you know, I feel
frustrated, you know, I feeldisappointed. And once I'm done writing down
whatever I feel, now I needto figure out my first question the reason
(31:41):
this happened, you know, allat once, but also write down steps
on how to overcome these emotions soso I can go back and read those
notes next time they happen. That'ssuper important, And there is like no
size fits all. You need tofigure out what's working for you as a
t because we all think and dodifferently, okay, And you honestly,
(32:04):
you know, need to devote lotsof time and energy into your trading in
all aspects. And yes, Iknow, you know, I know that
this is you know, almost afull time job doing it, but you
need to take this seriously, otherwiseyou will be at the same place and
level next year to where you aretoday. You know, unless you make
(32:28):
that change, nothing will happen,right, we all know that by now,
and don't expect having any different resultswhere you're not working on yourself.
That's just foolish, right, Andyou know, honest answers and excuses are
two different things. You can lieto others. You can, you know,
(32:50):
lie to people around you, butyou can lie to yourself, you
know. Or actually if you lieto yourself, which most people do,
and they lie to themselves so much, and that good that they start believing
in their own lives. But itdoesn't get you anywhere. You know,
been there, done that as well, Like why do you think I struggled
(33:14):
for a decade? Okay? Solike if you always excuse yourself every time
you make a mistake, well thenyou have some work to do. And
if you blame it on being toobusy, well then don't trade when you
are busy. If you blame iton being tired, well then don't trade
when you are tired, or atleast don't do your analysis when you're tired.
(33:37):
Okay, If you blame it onlack of focus for whatever reason.
Then you need to identify the reasonsfor not being able to focus and don't
trade or do your analysis when youfeel unfocused. Okay, sounds simple,
right, but it's not easy toapply. So it's a different story.
(33:59):
If you are a trading coach andyou are supposed to perform and produce a
certain amount of videos on a regularbasis, or you know, try to
find trades so you have at leastsomething to teach and talk about. You
can be unfocused. You can belike tired or busy all the time,
(34:19):
or having lots of excuses nobody caresabout them. You can have too many,
like you know, bad days inrow. As a trading coach,
you have so many more responsibilities thatputs lots of pressure on your shoulders,
like beyond your imagination that you don'teven you know you don't have as a
(34:39):
person, like just trading for yourselves, where like nobody holds you accountable.
You have no idea what pressure meansuntil you become a coach and the entire
world is watching you trade and perform, and obviously your entire service relies on
performing. This is a performance game. You know, if you don't perform,
(35:02):
You're done. You're You're literally done. There are lots of stress involved
that nobody talks about, you know, you know, stuff that you don't
see happening behind the scenes, youknow, but all the side effects that
comes with stress, you know,sleeping disorder, maybe eating disorder. I'm
not saying by you know, byany means that I have those symptoms,
(35:25):
but just saying, Okay, ifyou have going through some challenging times on
the top of that, you knowthere are always some sort of stress involved
regardless. Okay, we all gothrough different challenges in life, both trading
related but also non trading related.My life is no different from yours.
(35:45):
Okay, you will be amazed howyour personal life can affect your trading or
at least your current state of mind. Have you ever felt like, you
know, there are times when youfeel like the entire world is against you,
like everything you say or do comeacross in the wrong way. Or
(36:07):
if you happen to have a conflictat your day job, okay, and
you come home and from nowhere youstart getting into an argument with whoever is
around you at home, and thenyou start analyzing your charts and taking trades,
and those traits goes against you,okay, and you just feel like
(36:29):
you can't do anything right without screwingthings up. Vera done that okay and
obviously goes for the opposite. Youknow, when things are like super great
in your personal life, you feellike whatever you do, it goes the
way you want and you come homein a great mood, and you know,
(36:50):
things become even better, telling jokes, having a blast with people around
you. Even your pet seems tobe having a great time or having a
great day, and the entire lifefeels like just amazing. And then you
feel like super focused. You doyour analysis and play some trades. That's
you know that stands out. You'relike a shining star and the market is
(37:14):
behaving for once, and you know, you know, dealing with within your
game plan and those traits happens togo in your direction, et cetera,
et cetera. I think you getmy point right, and listen, you
know, no losing month for usso far this year, and honestly,
(37:35):
I don't even remember when we hada losing month last time. And most
of the traits that we have beentaking these challenging months have been either break
even trades or you know, fourwins and many reduced winning trades and some
of them like we're home runs.Okay, and obviously some minor reduced losses
as well, maybe full loss hereand there. But it's like so important
(38:01):
to talk about this subject that mostpeople avoid talking about. So fortunately,
none of my you know, socalled mistakes had any huge impact on my
trading results, beside the fact thatwe would have made much more pips if
those minor mistakes had not been made. That's all, okay, and that's
(38:23):
the difference between being a struggling traderand be a professional trader. But it's
so important to talk about this subjectfrom time to time when they happen.
Okay, that's the traders. Hopeyou enjoyed the session, and I you
know, I'm just feel free tosend me an email with some feedback,
(38:44):
but most importantly, let me knowwhat you are missing on these episodes,
because I'm doing those for you,Okay, Any topics that you want me
to cover or maybe talk about itagain, or anything else you want me
to talk about. You know,I'm not sure what to talk about for
my next episode. Obviously, asalways, I will come up with something
(39:07):
and it's maybe maybe it's prime timeto record a live related topic in the
near future, and I, asyou know, I really enjoy doing those
and obviously they seem to be superpopular forever reason so based on the stats
that I'm reading and watching in thebackground and most importantly, okay, support
(39:30):
what I'm doing, like if youfind these episodes useful and helpful, we'll
spread the word about my podcast andhelp me to rate it on Spotify.
I have currently I just checked,I have currently two hundred and twenty seven
rates, and hopefully by the endof this month, I will have many
more. Thanks to you, andthank you so much in advance. You
(39:52):
know you have no idea what youguys and girls means to me. Okay,
that's it, traders, So thankyou so much for listening, and
until next time, stay safe andtake care. Cheers M
All right, let's get started darkerhere. I'm the lead coach for my
long term trading service within Coaches Cornerat four x mentor Big One. Welcome
to my podcast and episode fifty four. And as you all know by know,
all the links about our social mediawill be in the text below this
(00:49):
episode, so feel free to followus on social media. As you all
know, we have summertime finally arrivingto Sweden, and I'm enjoying lots of
time outdoor, getting tann and youknow, taking long walks, you know,
just trying to be outside and getsome fresh air. I'm looking forward
(01:12):
to do some road trips in summerand obviously spend some time with my you
know, quality time with my kidsand loved ones. And the summer part
of the year here in Sweden isjust like magical, so you know,
just going around in Stockholm eating icecream and just walking around and taking all
(01:33):
the energy around you. It's justjust great. So happy times. So
let's just dive in directly into today'sepisode that will be about you know,
the current market condition that we havebeen dealing with for the past i would
say month or two, you know, and all the frustration that comes with
(01:56):
it, even if you are aprofessional trader, and the importance of identifying
those emotions before it affects you andyou know your mental capital and obviously you're
trading. And I always make sureto record these episodes while I feel those
(02:19):
emotions, which makes these episodes asauthentic as possible, because you know,
by the time market goes back tonormal, whatever normal is nowadays, then
I, you know, tend toforget about these current emotions that I'm feeling
within right now, and the podcastwon't be as real and authentic as I
(02:46):
prefer them to be. As youall know by now, I'm a long
term trader. I'm long term tradingfor my service, which means that we
are both swing trading and position trade. I would say the vast majority of
my trades has been swing trading orswing trades lately. So and when the
(03:09):
market, you know, have beengoing sideways for many of the pairs that
we are focusing on, I wouldsay, like around like eighty percent of
the pairs right now are going sideways. And I tend to spend lots of
time to you know, trying tofind valid trades and you know, looking
(03:30):
at my charts back and forth morethan I'm used to, which is a
bit time consuming to be honest withyou, and I will tell you why
later on on this episode. Youknow, the best traits is, you
know, are the ones that youknow, I see within minutes if not
(03:51):
seconds, and they just stand outto me like a shining star, almost
like without any effort, you know, win, lose, draw, I
couldn't less. And then when themarket is giving you a hard time like
it has been doing lately, youknow, I just tend to overlook things
(04:12):
and start, like, you know, you start doubting your ability to find
great traits. After a while,you might think, you know, there
must be a great trade somewhere thoughI can't see, but you can find
it, and your brain start playinggames with you. You know, you
might start ask yourself, am Ilosing my ability to find great tradits?
(04:40):
Or you know, does my tradingsystem not work anymore? Or have I
lost you know, lost focus ormotivation? Like what's wrong? Okay?
So these are the emotions that usuallycross my mind when the market, you
know, giving a hard time.I assume as always that you are feeling
(05:03):
the same feelings, because I canbe the only one having these thoughts,
right at least I don't think so. We are all human beings, and
you know, we have feelings andemotions. No, and this happens regardless
of how long you have been trading. So it's like it's a super important
(05:26):
subject to talk about that many peopleout there try to avoid. Most people
don't want to show any signs ofweakness, or maybe they feel embarrassed.
Most people tend to only show youone side of the story. Well,
not here, my friend, nothere. Here is where you get the
(05:49):
brutal, naked truth about trading,the good, bad, and bugly side
of trading, without holding anything backfrom you. Okay, so some traders
might think that they are the onlyones having these, you know, those
feelings, like like I did backin the days. You know, I
(06:12):
was embarrassed to talk about my feelingsand emotions. I didn't want to come
across as weak because everyone else aroundme, or at least on social media,
seems to be so confident about whatthey are, you know, what
they are doing, because back thenI didn't know any better, which I
do now. And that's why it'sso important to tell the truth, regardless
(06:36):
how hard and embarrassing it might be, and most coaches out there pretend to
be someone they are not. Youknow, they tried to play cool in
front of their clients and followers.Well, when it comes to me,
(06:58):
whatever everyone else avoids talking about,I love doing those episodes, okay.
Same goes for exposing my emotions andfeelings not only around trading, but also
outside of trading, because I'm nothere to impress any clients or listeners.
(07:19):
So whenever I deal with any tradingrelated but also non trading related issue or
challenge or obstacle, I tend tograb the mic and tell the truth basically,
or at least my truth. Itdoesn't need to be your truth,
but it's my truth, okay.And my clients tend to hear me speak
(07:43):
about this stuff, you know,like this on regular basis, or at
least, you know, whenever somethinghappens obviously, like if I happen to
miss a trade or two, Ialways mention those in my next coming pre
market analysis that I'm providing twice aweek, sometimes more so. Yeah.
No, sure, I would havebeen more than happy to quote unquote brag
(08:07):
about my results lately, but Idon't have much to brag about the market
has been giving me a hard time. And this is absolutely not the first
time I'm dealing with these emotions andthese you know, these kinds of emotions,
and it definitely won't be the lasttime. So why is it so
(08:28):
important to talk about this? Okay? Well, the only difference between a
struggling trader and a professional trader isthat the struggling trader start jumping systems or
system you know, and start lookingfor another shiny object. We all have
(08:48):
been been there, right, Idid that for many many years, because
you might think that there must besomething out there that is much better that
you know, you know, thatyou don't know about just yet, and
you have to find it, Okay, because how could it be possible to
(09:09):
not see or have any trades fordays or weeks were obviously depending if you
are short term trading or long termtrading, but there are times when you
don't have trades for days, weeks, maybe even months, or at this
you know, for an entire month, and when you start jumping system or
(09:30):
services, then you go back towhat I call the never ending cycle that
I talk about in many of myprevious podcast episodes. You all know the
story by now, right, ifnot, well, make sure to listen
to all of my episodes and youwill know exactly what I'm talking about.
(09:52):
The professional trader, though, heor she identifies those emotions as soon as
possible, and they, you know, they stay away from the market until
they start seeing trades based on theirown game plans. And you know the
feeling when you start seeing things againwithout any effort, and this, you
(10:16):
know, the trade starts presenting themselvesand they start, you know, standing
out like a shining star. Sowhile the struggling trader keeps jumping system systems
and services, the professional traders spendthat amount of time doing some chart exercising
(10:39):
and sharpening their skills and tools bydoing their homework, you know, journaling,
taking screenshots and notes, maybe evenwriting diaries about their emotions so they
can go back and read it everytime the market behaves outside of their game
plan. Then you just you know, realize that this is not the first
(11:01):
time, obviously, and you canread how you took yourself out of this
phase by just sticking to your gameplan. So it's not you know,
only important to journal your trades,but only journal your emotions because regardless how
great your trading system is. Trustme when I say this, Your trading
(11:24):
system will dry out at some point, and it's your job to identify those
faces in your trading and truly acceptit. Because understanding and accepting is two
things. Okay. You need toboth understand and accept it most importantly.
Okay, So you don't self sabotageyour own trading journey. You just need
(11:48):
to, like I said, understandand accept the reality of how trading works.
Okay. So rather than just jumpingsystems, learn you know, learn
to know the pros and cons withyour trading approach. Okay, know when
(12:09):
your trading system sucks in the marketand when your trading system will give peak
performance and you can make yourself agreat amount of pips. And like I
said, trust me when I saythis, there is no trading system in
this world that works in every marketcondition. Never. And sure you can
(12:35):
always, like I do, enhanceyour trading system along the way and find
new ways to attack the market withoutchanging you know, too much back and
forth, not changing your foundational rulesof trading. Nothing wrong with that,
okay. So therefore it's super importantto understand your own trading system and be
(12:58):
okay with the fact that there willbe times when your trading system is not
working with the current market conditions,okay, and there is not much you
can do about it. And don'ttry to find something that works all the
(13:18):
time, because you will be searchingforever. And trust me when I say
this, if that was possible,I would have found that long time ago,
because no one else spends as muchtime in front of their charts,
you know, chart exercising like Ido. If you try to find that
(13:43):
system or combine too many trading stylesfor all type of you know, market
conditions, you will just overwhelm andconfuse yourself and you will end up missing
most of the trading opportunities that youwould have been seen in the you know
in the first place. So don'ttry to reinvent the wheel or you know,
(14:05):
never fix what's not broken. Solet's say that you are a trend
trader, okay, and you knowexactly what to look for when the market
is trending. That means your tradingsystem will dry out when the market is
(14:26):
ranging. And obviously you need tohave you know the knowledge on how to
identify a trending market condition, butalso most importantly, identifying when the market
goes into a ranging mode. Okay. Same goes obviously for the opposite.
Like if you're an expert trading rangingmarket conditions, and you might have the
(14:50):
best trading system in the world,but when the market start trending, then
your trading system will stop working thewhere you are used to and you need
to know, you need to understandand like I said, most importantly accepted.
Okay. What works for me isthat I have my own design trading
(15:13):
system where I identify the trend inmy own specific way, which I call
advanced market flow. But I alsouse advanced market flow to identifying ranging market
conditions before everyone else sees it.Okay. In the market, that's super
important because usually unless you know whatyou are doing, you see the market
(15:37):
is ranging just after the fact,basically like when it's over okay, And
by the time you identify the rangingmarket conditions okay, the markets starts trending
and you are always several steps behindthe market and miss all the moves in
the market, or at least you'rejust able to see those in hindsight.
(16:03):
And as far as I know,hindsight won't pay my bills. Okay.
You always see things when it's toolate basically, when everyone else sees those
things, and that's way, waytoo late, because as we all know
by now this is fact, thebest majority of traders are losing money in
(16:26):
the market. Okay, if yourtrading system works, you should be seeing
those things way before everyone else,otherwise you will never catch the meat of
the market, so to speak.Okay, so let's talk about my personal
experience dealing with these emotions for thepast month or so. You know,
(16:51):
we started the year by having somegreat trades, you know, and I
thought like, here we go again, another great month or months or coming
to an end. And I wentwith that mentality into the next coming month,
which is the first mistake I did, Okay, And I always tell
(17:15):
my clients and listeners that if youlose or having a losing month, which
which is completely okay, you know, forget about it. Don't take those
emotions with you to the next comingmonth. And if you have a winning
trade or winning month, then forgetabout it. Even faster, never take
you know, any emotions from theprevious month into the next trading month,
(17:40):
because you have no idea whatsoever whatis waiting for you around the corner.
Lesson learned. You know, weare all human and we all make mistakes,
you know, not a big ofa deal. So along the way
the way I read the market,some markets went into a ranging mode.
(18:00):
Then we start what I call pureprice action trading. And if you follow
me on LinkedIn, you know exactlywhich type of traits they are. Okay,
So I have a certain way oftaking trades when the market is trending,
and when the market is ranging,we have a different approach. So
(18:23):
my next mistake that I was,you know that I totally disregarded position trades
and mainly focused on swing trades.And you know, and whilst putting out
a huge effort to try find someswing trades to talk about in my pre
market analysis that I'm providing for myclients twice a week, like I said
(18:47):
before, we took some trades,those swing trades, and there were there
was like basically no follow through orsome of them. Some of the trades
will like start moving after weeks,and some of them even after months of
entering those trades. Like it soundslike super easy when you talk about it,
(19:10):
but just like you know, justimagine taking a trade and that specific
trade is going nowhere, like sidewaysfor weeks or months and you know,
and all the frustration that comes withit. And obviously this goes also for
short term trading, like you takea trade and it's going nowhere, okay,
and you know all the frustration thatcomes with it. And at the
(19:33):
same time you see some huge movementthat you are not in those trades,
and that's where the mind start playinggames with you unless you control it.
So I realized that I missed severalposition trades. I'm not sure, maybe
around like four or five position trades, and they were all winners, and
(19:56):
some of them big winners, likebig like you know, home runs or
at least you know, they wentfar enough to take out their risk and
have a free look at those trades. Okay, nothing wrong with that,
stress free trades, Okay. Sothe mistake that I did, which I
told my clients in one of myPMAs, was that I was so focused
(20:19):
on finding swing trades that I missedsome super obvious position trades, like you
know, no brainer trades. Okay. And even if you have a small
account size, you know, likemost new clients have, which is totally
understandable, you know, heck,just trade two micro lots, or if
(20:41):
that's too much for you, youknow, open a nano account where you
trade pennies and you just trade twonano lots, okay, just so you
can show yourself that you saw thesetrades and took them, because it's not
about the money when you are strugglingtrade. It's it's more about practicing your
(21:02):
trading system so you become comfortable withit. That's all. Okay, win
lose straw, even if like allof these position trains went against you,
as long as you are following yourgame plan. Nothing wrong with losing trades.
Geez, we have losing trades,okay, nothing wrong with it.
So what I did was I grabbeda mic like I always do, and
(21:25):
I showed all these you know,missed opportunities or missed position trades in one
of my PMAs. And I thinkit was like I said, you know,
four to five trades and all ofthem, like I said, winners,
at least going in the right direction. So we if we have been
taking those trades, those would havebeen risk free trades, you know,
(21:47):
with proper management as that that weuse, and those trades would have paid
for you know, many potential losingtraits in the future. Okay, you
know, absolutely nothing wrong with focusingon one trading style that I preach all
the time, right, but youknow, but in my case, we
(22:07):
are long term trading, and withinlong term trading that includes both swing trading
and position trading. And then obviouslythat the members can choose between those two
you know, trading styles, dependingon which no trading style they are focusing
on of their preference. Okay,so what happens with your mental capital when
(22:33):
you go into a new trading monthwith the wrong mindset, Well, what
happens? Well, now you needto deal with these emotions and disappointment for
not knowing better. You know,it's it's human error. We all do
mistakes. I'm not perfect. Fromtime to time, I do make mistakes
(22:57):
just like everyone else, even ifit takes like a while between the mistakes,
could be like anything between weeks,months, which is usually like,
could be months or even years.So let's go back to the subject,
you know, dealing with these emotionsand if that was not enough, like
after a while, realizing that shealso missed several position trades and they all
(23:22):
were you know, super high qualitytrades, you know, the type of
trads that doesn't grow on trees,so to speak. And you might say,
you know, but darko, whatif those position trades were losing trades,
like you wouldn't have felt so badabout it, right, because you
never know in advance if a tradewins, loses, or just ends up
(23:45):
break even. Right, Sure,yeah, you are completely right. But
then again, there are you know, there are trades with very super high
quality or high probability of winning.And obviously I have a certain you know,
have certain rules for those traits andthey are almost like always, you
(24:07):
know, trads that are within theunderlying trend with the higher time time frame,
you know, correcting or retracing backinto a strong level of support and
resistance. You know, those traitsusually have a very very high probability of
winning. Like I would say,eight times out of ten they are winning.
(24:27):
And that's based on stats, facts, back testing, life testing,
forward testing. Okay, and nowyou know they don't occur that often for
obvious reasons. That's why it's soannoying because now you need you might need
to wait for another threes to sixmonths until the market might give you another
(24:48):
opportunity. The reason why I need, you know, might need to wait
for that long is because obviously I'mreferring to the monthly chart, so every
candle on a monthly represents one month, and you don't need to wait for
that long. If you are doingthe same thing and you know what you're
doing, you have a specific systemlike I have, and you do that
(25:11):
on lower time frame, like,for instance, the weekly chart or maybe
even the daily chart if you areday trading. Okay, So on the
top of these two mistakes, youalso realize, now, if that was
not enough with everything that I justmentioned, you also missed one or two
swing trades. Those who are likethis, you know the traits that you
(25:33):
were looking for, because in meantimeyou realize about missing the position traits and
we're busy dwelling about those, whichhappens even to the best of us.
Not the end of the world,okay, But by adding more challenges into
your mental capital that has already beenaffected with the you know, the stuff
(25:57):
that I just mentioned, that justadds more frustration. And if you don't
know how to control your emotions andidentify these steps, okay, here is
where a struggling traders start revenge tradingand blowing their accounts. They just can't
(26:19):
stand the pain of dealing with allthese emotions that comes with trading. That's
why I'm taking my time recording thisepisode. You just need to find a
way to overcome these obstacles, otherwiseyou will be forever struggling, even if
(26:40):
they should know better. Just likeI felt, as I talked about earlier
on these struggling traders totally understand thefrustration, but they don't truly accept it,
and their mind starts playing games withthem, and a disaster is around
(27:00):
the corner. I hope that thisepisode gave you a certain wake up call
if you happen to be a strugglingtrader, and that you can relate to
some of the stuff I talked aboutin this episode, But also, you
know, have a better understanding thatregardless of how good you are at your
(27:22):
trading, we all do feel thesame frustration from time to time, and
we all make the same mistakes,even if the time between the mistakes gets
longer and longer, and after awhile it's you know, and it's like
very important to point this stuff outwhen you know they happen, so people
(27:45):
get a fair picture of trading andhave a more profound understanding that me or
anyone else who trades goes through thesame pace. The only difference is that
I can show my emotions. Istart by identifying them as soon as possible
when I recognize my state of mind, and you know, be mature enough
(28:10):
to take a step back and rethink, you know, whatever self destructive thoughts
you might have, you know,and have a game plan for how to
deal with your emotions. You know, the same way you hopefully have a
game plan for your traits. Youshould have the same game plan for when
(28:32):
you are in a certain state ofmind, like, for instance, if
you make a mistake or miss severaltraits and you start getting frustrated you know,
and having thoughts of you know,changing back and forth or on your
way to revenge trade. Okay,then you need to write down some simple
(28:53):
steps on how to deal with thosecurrent emotions and how to you know,
let let yourself take a break fora while and come back with fresh mindset,
Maybe go out for a long walk, or just don't trade for a
couple of days, like most mostlyto let your emotions to cool down.
(29:15):
So what's my game plan for whenthis happens? Everything I you know,
that I talked about in this episode, So how do I deal with this
so it doesn't happen again, orat least not anytime soon or in the
near future. Well, first andforemost, you need to ask yourself why
(29:37):
this is happening, Like, whatwas the reason that I went into a
new month with the assumption that thiscoming month will be as good as the
previous one? You know, that'sthe first question you need to ask yourself.
And then I also need to askmyself why did I miss those positions?
(30:00):
Did I see those but disregarded them? If that's the case, then
why or did you see those traits? Or maybe you didn't see those traits
until after the fact. If that'sthe case, then the same goes here.
You need to ask yourself why,okay, or maybe just maybe you
(30:23):
did see those but you didn't takethem because or fear of losing, because
the market seems to be iffy anyway, So why would those traits work when
the current traits that we are inare going nowhere? You know? Do
you you know, do you startto recognize these emotions and questions that might
(30:48):
go through your head that might crossyour mind from time to time? Super
important subject you talk about, butmost importantly, how to overcome these emotions
and grow as a trader. Andthe last question would be about, you
know, the last one or twomissing swing trades that I talked about earlier
on if swing trades were like theonly traits you were focusing on, shouldn't
(31:14):
I, you know, have beenseeing those, so you know, I
write my you know, I writedown my emotions, you know, putting
them into words, something like Ifeel angry, you know, I feel
frustrated, you know, I feeldisappointed. And once I'm done writing down
whatever I feel, now I needto figure out my first question the reason
(31:41):
this happened, you know, allat once, but also write down steps
on how to overcome these emotions soso I can go back and read those
notes next time they happen. That'ssuper important, And there is like no
size fits all. You need tofigure out what's working for you as a
t because we all think and dodifferently, okay, And you honestly,
(32:04):
you know, need to devote lotsof time and energy into your trading in
all aspects. And yes, Iknow, you know, I know that
this is you know, almost afull time job doing it, but you
need to take this seriously, otherwiseyou will be at the same place and
level next year to where you aretoday. You know, unless you make
(32:28):
that change, nothing will happen,right, we all know that by now,
and don't expect having any different resultswhere you're not working on yourself.
That's just foolish, right, Andyou know, honest answers and excuses are
two different things. You can lieto others. You can, you know,
(32:50):
lie to people around you, butyou can lie to yourself, you
know. Or actually if you lieto yourself, which most people do,
and they lie to themselves so much, and that good that they start believing
in their own lives. But itdoesn't get you anywhere. You know,
been there, done that as well, Like why do you think I struggled
(33:14):
for a decade? Okay? Solike if you always excuse yourself every time
you make a mistake, well thenyou have some work to do. And
if you blame it on being toobusy, well then don't trade when you
are busy. If you blame iton being tired, well then don't trade
when you are tired, or atleast don't do your analysis when you're tired.
(33:37):
Okay, If you blame it onlack of focus for whatever reason.
Then you need to identify the reasonsfor not being able to focus and don't
trade or do your analysis when youfeel unfocused. Okay, sounds simple,
right, but it's not easy toapply. So it's a different story.
(33:59):
If you are a trading coach andyou are supposed to perform and produce a
certain amount of videos on a regularbasis, or you know, try to
find trades so you have at leastsomething to teach and talk about. You
can be unfocused. You can belike tired or busy all the time,
(34:19):
or having lots of excuses nobody caresabout them. You can have too many,
like you know, bad days inrow. As a trading coach,
you have so many more responsibilities thatputs lots of pressure on your shoulders,
like beyond your imagination that you don'teven you know you don't have as a
(34:39):
person, like just trading for yourselves, where like nobody holds you accountable.
You have no idea what pressure meansuntil you become a coach and the entire
world is watching you trade and perform, and obviously your entire service relies on
performing. This is a performance game. You know, if you don't perform,
(35:02):
You're done. You're You're literally done. There are lots of stress involved
that nobody talks about, you know, you know, stuff that you don't
see happening behind the scenes, youknow, but all the side effects that
comes with stress, you know,sleeping disorder, maybe eating disorder. I'm
not saying by you know, byany means that I have those symptoms,
(35:25):
but just saying, Okay, ifyou have going through some challenging times on
the top of that, you knowthere are always some sort of stress involved
regardless. Okay, we all gothrough different challenges in life, both trading
related but also non trading related.My life is no different from yours.
(35:45):
Okay, you will be amazed howyour personal life can affect your trading or
at least your current state of mind. Have you ever felt like, you
know, there are times when youfeel like the entire world is against you,
like everything you say or do comeacross in the wrong way. Or
(36:07):
if you happen to have a conflictat your day job, okay, and
you come home and from nowhere youstart getting into an argument with whoever is
around you at home, and thenyou start analyzing your charts and taking trades,
and those traits goes against you,okay, and you just feel like
(36:29):
you can't do anything right without screwingthings up. Vera done that okay and
obviously goes for the opposite. Youknow, when things are like super great
in your personal life, you feellike whatever you do, it goes the
way you want and you come homein a great mood, and you know,
(36:50):
things become even better, telling jokes, having a blast with people around
you. Even your pet seems tobe having a great time or having a
great day, and the entire lifefeels like just amazing. And then you
feel like super focused. You doyour analysis and play some trades. That's
you know that stands out. You'relike a shining star and the market is
(37:14):
behaving for once, and you know, you know, dealing with within your
game plan and those traits happens togo in your direction, et cetera,
et cetera. I think you getmy point right, and listen, you
know, no losing month for usso far this year, and honestly,
(37:35):
I don't even remember when we hada losing month last time. And most
of the traits that we have beentaking these challenging months have been either break
even trades or you know, fourwins and many reduced winning trades and some
of them like we're home runs.Okay, and obviously some minor reduced losses
as well, maybe full loss hereand there. But it's like so important
(38:01):
to talk about this subject that mostpeople avoid talking about. So fortunately,
none of my you know, socalled mistakes had any huge impact on my
trading results, beside the fact thatwe would have made much more pips if
those minor mistakes had not been made. That's all, okay, and that's
(38:23):
the difference between being a struggling traderand be a professional trader. But it's
so important to talk about this subjectfrom time to time when they happen.
Okay, that's the traders. Hopeyou enjoyed the session, and I you
know, I'm just feel free tosend me an email with some feedback,
(38:44):
but most importantly, let me knowwhat you are missing on these episodes,
because I'm doing those for you,Okay, Any topics that you want me
to cover or maybe talk about itagain, or anything else you want me
to talk about. You know,I'm not sure what to talk about for
my next episode. Obviously, asalways, I will come up with something
(39:07):
and it's maybe maybe it's prime timeto record a live related topic in the
near future, and I, asyou know, I really enjoy doing those
and obviously they seem to be superpopular forever reason so based on the stats
that I'm reading and watching in thebackground and most importantly, okay, support
(39:30):
what I'm doing, like if youfind these episodes useful and helpful, we'll
spread the word about my podcast andhelp me to rate it on Spotify.
I have currently I just checked,I have currently two hundred and twenty seven
rates, and hopefully by the endof this month, I will have many
more. Thanks to you, andthank you so much in advance. You
(39:52):
know you have no idea what youguys and girls means to me. Okay,
that's it, traders, So thankyou so much for listening, and
until next time, stay safe andtake care. Cheers M
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