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Trading psychology

Course Price

Free

Course length

5 Mins

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Mark
Warring

Instructor

Welcome to my Masterclass.

In this lesson you will learn what the foreign exchange market is all about and how we are able to take advantage of the worlds biggest exchange.

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Controlling your mind as a tool

Trading is 40% being able to read the markets and 60% being in control of your emotions. Both are equally important, but the psychology part is mostly underestimated and overlooked. This course is designed to teach you both.

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Teaching you how to read the markets is a pretty straight forward part that, with clever teachings and enough practice, repetition and testing can be learned by anyone. Pretty much all courses out there will teach you about market mechanics and certain trading strategies in one way or another. But once mastered those, you will almost certainly not be able to make any money consistently applying them in a live market. Your emotions will completely disable you to apply the rules of these strategies in the long run.

 

Without also moulding and shaping your mind into a traders-mindset, there is a 90% chance you will blow up your entire account in 90 days. These are long term actual statistics about the success rate of new traders entering the markets. You will be eaten alive by 'smart-money' i.e. some of the brightest minds in the industry with many years of experience. As a matter of fact, most brokers (market-makers) will actually take the other side of the trade that their new clients take. Knowing the 90/90 statistic as well, they make a great deal of money on taking the other side.

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In this course personal-psychology will play a massive role in teaching you how to become a poised and in-control trader, as well as how mass-psychology works and how to use it to your advantage. Basically reading the minds of other traders and using that knowledge to have an edge in the markets.

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We will teach you exactly what to look for using our four profitable strategies. There are virtually no grey areas. However they will require massive discipline. Lets imagine you have been looking at a possible entry on a currency-pair for weeks and price is getting ready to present an entry. At the day of the supposed entry, price does something that you did not anticipate and is not part of your trading plan, will you have the discipline to walk away and not take the trade? And if you do, and price still goes in the direction you had predicted, will you have the strength to not take a late entry and chase it? These are just two examples of how psychology plays a massive role in trading.

In trading these emotions: Greed, Fear, Hope and Regret play a vital role in your trading behaviour and you emotional state. Besides it being a "Zero Sum Game" meaning someone else has to loose money for you to win, it is also a "Negative Sum Game".

 

This means that let's say over the last month you've lost 5 trades in a row. You did your self-review, changed what went wrong in the first few weeks and in the last three weeks of the month you've won 5 trades in a row, leaving your P&L break-even for the month. Although you have not lost any money, your emotional state will be far from neutral. You will feel that your strategy isn't working, that the market is against you or that you are just not cut out to be a trader. That month has cost you a lot of heartache and worrying.  

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This is exactly what happens if you only learn how to read the charts and use a strategy but haven't been taught to learn to think in probabilities.

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To get your mind in check, we have come up with some clever real life exercises and tests that you will have to complete during this course  and it will transform your mind from a gambling-mindset, into a traders-mindset. This means you will approach the markets and trading positions in terms of probabilities. You will understand statistically how many times you could possibly loose and still come out on top. You will have a rock solid belief in your trading plan and the massive edge it has over the markets. You will build massive confidence with yourself and your trading plan in a simulated environment. You will undergo the phases from being unconscious-incompetent to being consciously-competent and you will learn the four straight forward strategies that are so engraved into your cortex that you could trade them in your sleep.

 

By the end of your trading education journey, you will be able to get massive results with just 1-2 hours of trading per day. And it will feel as stress free and easy as riding a bike.

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