#341: Having the Right Mindset to Trade Well

 Podcast: Having the Right Mindset to Trade Well In this video: 00:29 – Controlling your emotions as a trader 01:12 – Made money every year since 2010 02:06 – The problem with a small sample of trades 02:42 – Look at the bigger picture 04:49 – Understanding win rates Trade psychology is a massive part of trading, and it will make a huge difference to your overall success if you can master it. Let's talk about that and more right now. Hey, Forex traders. Andrew Mitchem here at The Forex Trading Coach with video and podcast number 341. Controlling your emotions as a trader I want to talk about a very, very important topic, and it affects probably most all traders. It's all about trade psychology, and how you can control your emotions, and how what goes on in your head has a massive impact on the overall outcome of your Forex trading journey, whether it's going to be successful or not. It comes down to a few things that you can do to help yourself and improve things. You see, unfortunately, as traders, most people expect instant results, winning trades, high win rates. They don't like losses, they cannot accept losses, and they jump from system to system. Unfortunately, people do this all too often and all too quickly. Made money every year since 2010 And I even see it here at The Forex Trading Coach. If you did absolutely nothing else, if you joined our course, did nothing else other than copy my daily trade suggestions each day of the week, which was going to take you five minutes once a day at most to do, you'd make money. Absolutely guarantee you'd make money, and how do I say guarantee that? I know that because since 2010, every single year, we have made money on those daily trade suggestions, and so it just shows how big an impact psychology and your mindset is because it doesn't matter how many graphs I can show people of all these winning trades consistently over time. People still decide to offer a couple of losing trades to give up or to change systems, or it doesn't work, and it's a real shame because we've proven that. The problem with a small sample of trades You see, the problem is if you strike a system and have like a small sample of trades, and you have some winning trades, you think the system is marvellous. You strike that same system and have a small sample of a few losing trades. You may have been seeing all these previous fantastic trade results that someone like myself has shown you, and then you go and trade the system live, and you have a few losing trades or even a losing month, and people give up. That's a real problem in trading. it really is a massive problem. Look at the bigger picture You see, you have to look at trading as a bigger picture, even on our daily trade suggestions. By the way, there's just one timeframe chart. That's all this is. You've got all the other timeframe charts that we talk about that we post on our forums site, on our live webinars. We put the weekly and monthly chart trades on our membership site as well. I'm just talking about one timeframe chart, daily trades. That's all. That has made money every single year since 2010, and so it's just mind-blowing why people don't just continue to follow that. You would have made money month after month. I went back through my records just now. The biggest losing months since 2010 was in February 2014 when we lost 5.15%. We went backwards just on the daily trades, 5.15% negative. That's the very worst we have done, and here we are almost at the end of 2019. That's the worst because we're trading with low risk, half of 1% risk portrayed, high-reward risk, so it's a proven H, and as I mentioned, one timeframe. That's all that is. You can go on and take the same strategy,