Forex Trading Psychology - How To Lose

[@NoNonsenseForex]

So for those who haven't figured it out, "Yo Momma" is not a real video from me. Should be though.

[@philiptaylor2567]

I was gonna say, I don’t remember seeing that one

[@louwa9867]

You should actually. But, but, but my mama said I was gonna be a good trader...

[@philiptaylor2567]

Take it like a man. Like conor mcgregor did against Mayweather, ha

[@jaswik2023]

im like 80% sure next is trailing stop

[@keithsproson4328]

Wonder how many went back to look for it

[@fall5700]

“For most people, the reason they don’t win financially is because the pain of losing money is far greater than the joy of being rich.” Rich Dad, Poor Dad!

[@Thetaquo]

In backtesting, the losses last a few seconds. In real life, they last DAYS. My discipline from diet & exercise helped me through my losing streaks in testing, but only just. I'm in the middle of one early on trading real money, and I'm easing myself with this video!!

[@norvalgarebatho949]

To be honest it was the money management and psychology playlists that upped my game! 😭🙌🏽

[@johnm2241]

This is a video I love revisiting. When you suffer a couple of losses you begin questioning the effectiveness of your system. You feel like taking a break only to find out you missed a big move on a particular pair which would have cancelled out all of your recent losses. I have learned to stick with the system no matter what. Due to that I benefited from a 7x ATR move that I rode. It is a great feeling. Money management and discipline to stick to your trading rules are the keys to success.

[@amaze2n]

It's all about probabilities. If there's a non-zero probability of loss, there are going to be losses. It's inevitable. But if you have a proven system, losses don't matter. It's all about the long game. Losses are just a small dent in an upwards-sloping equity curve. A large source of the fear of losing is the way we think of money in our account. Thinking about it in terms of its utility or purchasing power is the worst thing you can do. You lost $200 dollars - could have bought a lot of shit with that. But no. Money is a means to an end. That money you lost on a trade served a greater purpose.

[@ChristTheKing70]

💜

[@sparcx86channel42]

that's truth. in the long run, the big runs will pay over the losses anyway.

[@harry_bonkers]

VP's Psychology videos are the ones that make you a proper trader mentally. All the rest are the tools how to find your way there technically. But without solid psychology you are toast! Thanks VP!

[@lucapuzzoli8363]

I have done a little experiment with a coin. I threw the coin 50 times and it came out tail 23 times and head 27 times , what is really important here is the tail came out 6 straight times in a row.

[@rodgeraarons8997]

Luca Puzzoli Wow - tail 6 times straight. 😂😂😂😂

[@jameelamadi4884]

i did the same flipping 100times, result was 52-48

[@mikestevens1728]

Thats actually interesting! I think i might try this.

[@jonniejlo]

Great initiative! Each coin toss is an independent event from every other coin toss, assuming a "fair coin". So streaks are random, either way. There are many papers written about coin toss experiments and are super interesting! One guy was in jail and did a coin toss 50,000 times. Commitment and spare time hehe! Mean Value Theorem or "Expected Value" theorem is good here (and in trading!). Go get 'em tiger!

[@dustinbruce2300]

Figure I should add my experience doing this same coin flip exercise, now 3 different times over the course of a few days. Each separate exercise of coin flips was 100 flips, heads win, tails lose. When I did this, I was very conscious of how I may have felt had this been real trades with real money. The first time I did this, I experienced a losing streak just 53 flips in, losing 7 times in a row. My win/loss ratio up to this streak was 53.7%, even with the 4 win streak leading up to it. That means that if I was sitting there paying attention to my win/loss ratio leading up to that small win streak, I would be staring at that losing streak and watching that 53.7% dwindle down to 47.5%. I can only imagine the roller coaster of emotions that would be happening. At that point, I would be 61 flips in. This might lead me to believe my strategy just doesn't work, and I should adjust it. But then, with just 9 more flips, I start on a winning streak and win heads 9 times in a row. I'm so glad this happened because, what if after that losing streak, I had gone and completely changed up my strategy to an ultimately worse strategy. I might have thought that I had figured it all out. I can imagine myself feeling nearly unstoppable after a 9 win streak, thinking I should double down on everything. Well, if I had started on a new strategy and was paying attention to that strategy's new win rate, noticing myself climbing up past a 64% win rate, I might naively think I was a genius and figured out the winning strategy and then proceed to risk more than I am comfortable with to grow my account faster. This group of coinflips ended up with a 54% success rate, while my next two attempts were both 48%, bringing my total win rate for all 300 coin flips to an exact 50%. I thought this was a fascinating and useful exercise, and I'm so grateful I did it before risking real money. I think of this quite a bit since doing it. What if that losing streak was the first 7 trades, but ultimately the strategy being implemented was the winning strategy?

[@gregs1245]

I have yet yo create any system but im through your basics and money management. Am here now

[@philiptaylor2567]

“When you are backtesting . . . A lot of times you see the loss it would have given you, and you figure out why you wouldn’t have taken that trade”. I’ve never done that. Ok, fine, yes I have. VP is always watching us, apparently

[@chibuikemezepue3569]

i swear lmao, this was me yesterday. As soon as he said that, i had to check my room for bugs VP may have put in there.

[@MeganTDavenport]

Then there's those indicators you find that you REALLY like but the win rate is only 50-60% and you feel like you want to fudge the outcome so the result is better haha. The tricks we play on ourselves to try to get there faster....

[@philiptaylor2567]

Megan T Davenport maybe the right settings on that indicator will make it 70%

[@TraviansLittleHelpe]

Philip Taylor If it makes you feel better we’ve all done it thankfully i caught onto it myself. This is possibly the only place S/R lines come in handy: Place a line where your entry is, and press F12 to expose candles one by one, when your exit indicator tells you to exit you exit, then scroll further AFTER writing your exit, seeing if it was the right decision, works great for me! Also taught me to really wait for candle close before exiting a trade/wait for it to hit stoploss

[@MasculintyOp]

The three Golden rules 1- Trade your system 2- Stay the fvck out of the way 3- Repeat 👑King VP , thank you sire.

[@StaVykoV]

Your psychology videos are like a therapy session to me. Just when I feel down because my algo is not working, i come back and watch some of those and feel hyped up again to continue testing.

[@matticussacko]

So do you want to trade Forex like a pro? Because it made me a multi-millionaire in my twenties and since

[@tezwoacz]

Lol 9 months later I still have to go through it...

[@rattlin9194]

Haha, good old Gregg... ''...trading like a PRO'' **double thumbs to himself**

[@Kosaphoreva]

Lol

[@Native_africanstories]

Hahahaha 🤣🤣🤣

[@bawbveenyo]

VP, you are the most consistently and irritatingly RIGHT voice in the forex world! Thankful everyday that I found you!

[@jayc526]

Finally I'm at a point where my losses are less than 1% a day. Three day losing streak. Thanks for the vid, I won't change anything.

[@uk2asiaForexTrader]

Many words of wisdom. I blew up a few accounts when I started out by trying not to lose. Became profitable once I realised and accepted that I needed to learn to lose before I could win. Sounds nonsensical, I know but it is a fact. Another gem was learning that successful trading was not about being right.........It's about doing the right thing by sticking with your trade plan and your strategy. You will have losses and you have to accept them.

[@poloparachutes9983]

Backtetsing is the fun part for me, I like getting technical in excel and using functions to make it easier. And love when an indicator I’m using is working, and even better when I tweak it and it goes miles further. Blood, sweat and tears in back testing so when you’re doing it live, the fruits are that much sweeter. And I love finding a loss, because then I look for indicators that would have never allowed me to take that loss. Less losses = more wins = more money

[@ferrod15]

Here after 4 years, having the need to stay the f@*k out of my own way! Thanks VP, God bless!

[@asfah6934]

bumped into this video years ago did not think anything of it, years later as I am rewatching, what he says, in the beginning, is absolutely correct. THIS IS THE MOST IMPORTANT FOREX TRADING VIDEO.

[@tedk572]

Here I am having my morning @ SBucks coffee in beautiful Southern FL, I was thinking that even with the several memorable losses and recoveries I’ve had in Forex trading, I wouldn’t trade the experience for any ‘regular job’ ever again. And, as I watch all the sheep hurrying to grab their coffee and go to their employment of servitude, I can’t help but think how forex has given me freedom of body and mind. The time I got back has allowed me to grow and be more creative and efficient in all aspects of my life. So when Patrick asks which video helps the most, I have to say ALL. I replay all the videos repeatedly like a classic song. The videos are a reference that will continue to guide you as you earn back your time, freedom and your expand your mind. The money is just a side effect of your hard work.

[@jackyu1143]

Well said, Teddy! I look forward to the day when I'm like you, sipping coffee on a busy weekday morning. Watching the rest of the world hurrying to grab their coffee will be a a reminder of how far I'll have come!

[@r6854]

Sadly, this video came right on time...Thank God I had watched the risk management ATR video when it came out. Oddly even though I'm in a losing streak I feel my trading is actually better than it was in the past. Every trade was entered for a reason and exited for a reason. as opposed to guessing if something is a double top,rest,hammer,etc. I'm glad to be out of the Forex Pictionary Game.

[@txmmyflex3939]

The smartest thing I did as I demo trade was to delete the MT4 app on my phone. After watching the discipline video I found myself getting in the way of my completed algorithm by consistently looking at my money (virtual money) go up and down. Right now I set an alarm to go off at 4:30pm Monday to Friday saying, “Get ready to trade at 4:40pm”. Forward testing on demo is truly a mental battle especially if you believe the money your trading is your actual money. Thanks for all you do VP

[@mrz007]

Started with your playlists almost a year ago. 12 months later, I am here again listening to this very episode. what a gem in this Industry you are man!

[@Fzp450]

I watched this probably 70 or 80 times so far. And still believe I need to watch again because I might missed an important thing here or there. This is sir the best video on the youtube. Many thanks.

[@haideriraqi3059]

after almost 1 year , I needed to listen to that again, cause I was about to be an idiot and react emotionally, I needed it to keep me on the right path.... all thanking words are never enough for you VP.

[@willemjanse1254]

Once again the master has spoken....We are listening bro.....!!! I thank you from the bottom of my heart. You are making a huge positive impact on my trading and me.

[@sb18131]

This just became one of my most favorite video. Thanks a lot VP, I am 100% certain, money management and Trading Psychology are more important than Technical Analysis.

[@wynandmentz9532]

What makes it great is getting this from an experienced forex trader and you admitting to the mistakes you made and telling us like it is so we can learn from them. And I know we will still make them but at least we can come back to your videos and lick our wounds and keep going at it as we know this is what happens in the real world. Not some make belief junk story about getting rich quick and if that does not work out we give up. Worth all the weight in gold.

[@stoutlager6325]

Great video. I did all of these losing reactions and then some in my first few years. And a biggie not mentioned, the dig in heels and take a wildly risky trade with nothing other than your fingers crossed to support it. I did that too! Aaaaaand, yeah, it turned out how you'd expect.

[@colinpowell2936]

You were right! Went on a winning streak in September, 12-1, and let the emotions come in and got high and in October I am down 3.2% all because my trading psychology wasn't right. The money management and exit indicator saved me! So I am back again to the trading psychology playlist to refocus! Your right man! Trade your system and nothing else!

[@raborokodavidtsokeli3665]

The long game, is what it is VP. The forward sightedness of the game even trading other people's money..... Going pro

[@mkhalid6677]

These psychology videos changed my life i was having very wrong expectations from trading but VP showed me the reality once my mind accept what VP is saying and remove all the nonsense from my head (it did take time) iam finally getting profitable consistently. no one else is teaching psychology this deep🙏

[@kellydude]

What are we going to do, if you stop making videos...Ugh!!! Man you keep it real!!!!

[@pierrebrseven]

Very important video! I have never heard any guru say "most of your wins offset your losses. VP keeps it real!

[@firewight1944]

Awesome buddy, dropping more value-bombs, Thursdays are always great!

[@toxicmask6741]

This is my second time watching this in a day can feel like it's my most impactful

[@and0v0]

I like that this video is titled "How to Lose" when it's about how to win and the video titled "Winning" is about how to lose (in the long term).

[@johnjirehgarcia8382]

The videos Discipline and Patience really showed how screwed up my previous trading was HAHAHA, thanks VP, God bless you!

[@jeffhaley9494]

I think you are about the only person that gives the full picture of trading....finding a trend or entry is so much less important than money management and staying true to your system. Thanks as always VP...you are my best forex and trading resource.

[@scottbeck7227]

I've traded Forex for seven years and all the information in this video is EXACTLY TRUE. Forex is a mind game when it comes to a demo account vs a real account and taking losses. I've experienced every one of these issues discuss and it is the biggest challenge in trading. This video needs to be watched FIRST!!!!

[@mohammadhosseinmahrooz1647]

Hey VP! I just want to thank you so much. So much that I don't even know how to put it in words. I have been a break even trader before watching your posts and now I'm much much better. You ROCK!

[@davidwhite2964]

Thanks VP, I'm just starting out in the Forex World and haven't really got my system together yet, some of it is a bit confusing if i'm honest, but I know it's a huge learning curve so I'm committed to continuing on and learning this fascinating new world. Your help and advice is invaluable!

[@jameelamadi4884]

everything you talked about is exactly what i am going through. started trading futures 6 months ago and i am going through the emotional ups and downs everyday.

[@alexroode4104]

I honestly don't think there are many others whose content is just as/more valuable than yours…

[@bradleyt]

Thanks VP....looking forward to the Prop Firm Info!! TRADING PSYCHOLOGY IS HUGE!! 👍 🤯

[@faulknerspad1]

You’re a bloody mind reader!!! On;y this morning i had my latest freak out. The markets have been sh1t for couple months now and I’m seriously starting to lose confidence. This has really refocused my mind. Thank you

[@1CarlAnthony]

An instant classic! Definitely one of my favs, along with other trading psychology videos.

[@BigMrToe]

All these things have happened to me. More than once. The last time it happened to me, you had just put out the video of putting moving averages on other indicators. I spent that hole weekend testing that. Since then I have only been doing things your way. I have not used a trend line or S&P or anything I used to do. Thank you for all these videos. There’s no going back now!

[@Poggy]

I definitely needed this. Thank you. I think a lot of us have this underlying false belief that we should be winning 80-90% of the time when that's just asinine. It makes it hard for us to accept losses because we don't think we should be losing.

[@mozziexpie3017]

I am Now quitting all of the courses i have paid for. this by far is exactly what i have been looking for. Thankyou VP No Nonsense, no scams just pure truth.

[@petereastman2663]

VP, I see an evolution in your videoes, podcasts, etc. You keep getting better and better. Would I recommend someone start on the latter work, NO. Start at the beginning, video "zero" in Core Concepts and work your way through. There is a lot of good information here. Don't miss out on anything.

[@artursantana3242]

Hey amigo, good morning.... and that is the best way to start a day !!!! Obrigado from Brazil

[@mrdroskies]

This is very true. If no back testing, no confidence in your system, psychology will get you without a doubt. I think one of the best people for trading psychology is the late Mark Douglas. Check out his seminar on youtube for everyone who needs help. Thanks for your efforts VP.

[@andrewbrown4313]

This video hit ma core no lie!.. I'm truly blessed to have you in my life VP, NO HOMO!!!!

[@charlestheawakened]

Hey sir. I have been in the game since 2015. Last year or so I just kind of let the trading go. Last couple months got back into it due to a meetup and immediately ran across your videos and podcast. Man wish I had this when I started but to be honest my maturity level was not there so the gambler would still have been present. Anywho, my sincere thanks for putting this stuff together. I am back with a renewed vigor and maturity level to match. If you are in LA I would love to link up possibly. There are no forex groups on the ground so-to-speak. Thanks again!

[@theevilhuman1]

Thank you! I needed this after i began testing my new system and am on a drawdown. The big runs profits were only enough to cover the many losses. But my backtesting said it should work. Thanks!

[@amieldemiao4065]

I realize that the more important here in your concept Mr. VP is the 2 unsexiest part, and it's the hardest

[@rahulchahal5360]

I’m going to be watching this one fairly regularly. Two biggest mistakes I make - Deviating from my plan and position size (taking too much risk)

[@alvarosteiger]

December was my first positive month! Lost everything I made in January and February. March better than December! April going down :) Ebbs and flows....

[@Forify.Global]

i think thats one if not the most important video !

[@NoNonsenseForex]

Agreed

[@stuartwonghinweng]

Take the testing phases very seriously.Take the TESTING phases very seriously. Take the testing phases VERY seriously. Take the testing phases very SERIOUSLY and backtesting the system THOROUGHLY in all pairs. AGREED 100% x 100% x 100%. Thanks, VP

[@jeezchong8992]

Big banks for me is the turning point. But the truth all your video turned me to become NNFX trader.. thank VP, God Bless You.

[@johndoe5816]

This is THE BEST video by far out there regarding the absolutely STRICT due diligence required in this racket if you expect to develop a system that's worth a $hit; I'm learning very quickly that there is simply no way around this critical phase if you expect to be profitably AT ALL. I treated each indicator as if I was practically trying to disqualify it! Brutal trials! And I'm happy now just to say I can break even after A LOT of trades. I owe it to the air-tight money management tactics and solid backtesting instruction from this channel. Excellent vid, sir.

[@adamwss88]

The Psychology Playlist is my new Bible, I listen to it like guided meditation.

[@adamwss88]

THANK YOU VP!

[@kimboslice1356]

I laugh everything me you hype out your video in your intro as the most important one so far... Then I listen, and end up agreeing. Pretty amazing.

[@DetailedMusicRatings]

The psychology videos are my favourites! So valuable. Thanks VP. I am watching all videos (not just psychology) for the 2nd time in order right now). I will forward test my system for 2 years just for you (and me)

[@janinepowis2992]

All the while I am backtesting I listen to your Videos or Q&As in the background. I find myself chucking to myself constantly. Everything you say is so true, so funny and so inspiring. Unfortunately, I blew several live accounts before I found your first video but never again. Like a Pheonix, I am intending to rise from the ashes as soon as I have tested the hell out of everything and got the money management and psychology under my belt however long it takes. Thank you so much, VP

[@sniffableandirresistble]

Love how serious you are

[@lucapuzzoli8363]

I just heard this quote mate : often what we see is what we seek. How well it relates to trading

[@HgsPinto]

I will be real about this one, the biggest f*** ups in my account almost 98% of them would have been avoided if I would have done nothing... Lesson learned in the hard way

[@samiyute4152]

More Love from Malawi... We're still testing... Be Relentless, Go get it :)

[@krisztianzsiros7100]

Time to time everyone have to come back for this playlist to put our mindset back in place before we step on the big stage. Very well spoken VP. Thank you

[@11pke]

Thanks for this brilliant lesson VP. I can now realise the reasons for the losses incurred. Need to work even harder and your lessons are great in inspiring and motivating.

[@momfei]

Thank you VP for guiding us the professional way to trade Forex. I have clicked the reset button and learning your method seriously now.

[@leroygrant5834]

So good to go back over these blogs and eek out the bad habits I was falling into with testing !

[@FawadZakai]

The most important videos that has impacted me are the ‘Dirty Dozen, Discipline, and Patience” videos.

[@kingpowellii6004]

Took some major losses after a booming first 2 months I lost it all I wish I had these videos to keep me in prospective. I went from $100 to $900 first month and $900 to $1600 just to blow my account in a week. I have mad respect for what youd please keep it up.

[@horsehead97]

L lol llllpp

[@goodmorningforex3161]

Thanks for this vp, I definitely agree that proper testing is very important! Testing indicators is basically my life now (when not working lol)

[@philnewpower]

I'll admit, I jumped out of forward testing because i started the start of March, won LOADS at the start of the volatility hike. Then I got into a loosing streak. I 'took a break' to retest more indicators until the volatility changes. Downside: I made a mistake getting out because I don't know my system. Upside: I've learned this error and am aware next time. Thankyou so much for this video VP! It's really kept me aware for the future. 😎🙏

[@RLT549]

You're literally a blessing. thank you for these. Found you yesterday but this is my officially my favourite forex channel.

[@raymundenso]

What helped me to not lose is get some of my capital that I put in my FX account and trade that first and the losing part was gone. Also journaling all of my loses and when I tweak my algo I also look into the "Loss" in my journal.

[@Agostinho86]

Very important tip when backtesting: when in doubt assume its a loss. Always go worst case scenario!

[@archielapaz5177]

Awesome VP! 3 winning since I started implementing your strategy. :)

[@Ivan-iz6wt]

This has made me strong. You have no idea of how this has saved me emotionally. Thanks

[@bengichuki1372]

This video makes a lot of sense especially among those who are already causalities.

[@farhad3a]

The only place in youtube that i really want to comment ❤️

[@Hancock_nl]

Priceless info, preferably watch multiple times.

[@Hancock_nl]

Especially today. Big lose on XAU, and Bitcoin decided to drop into SL. I'm done for the month.

[@kellydude]

Man you are right let your system do the work...I'm testing on my demo account, my system called for me to go long on three pairs. A day before the pairs went -50 pips and today they are + 2 pips. Let your system do the work and don't touch it. You have your stop loss and profit in place. Leave it be.

[@yoloman96]

I can’t wait for the prop firm video to come out! VP has made my career and a lot of other people I wonder how the must feel for a person 💯

[@pandacore9636]

"Yo Momma" was definitely the most impactful vid for me. In all seriousness though your content has helped me way more then i could ever imagine. Thanks!

[@janiesj9003]

I need a boost so I'm back at this video.. 14:53 i need this

[@paperchasers1161]

Big Banks... Knowing about the hot spots created by the popular kids made me understand why we can't all use the same system, definitely putting a lot of focus into not using what everyone else uses, and not sharing my system when it's ready. The Astronaut dreamer who loves to use heroine was also an impactful comparison, definitely appreciate you saying things that many are afraid to say. The dirty dozen made me realize that many indicators were designed for supply and demand markets, and older doesn't mean better. I realized I had to choose either forex or stocks, and I always felt forex was recession proof so hearing you confidently say that is indeed recession proof helped me mentally fully transition away from stocks (for now) Honestly I can't even narrow it down to just one, I don't feel I like I would give up the information on any of the videos, especially not for a marshmallow, not even two marshmallows.

[@shednotes3016]

You keep it R E A L 💯! You are NOT playing around. THANK you!!!!!

[@PersDoklar]

After watching this video a couple of weeks ago, I went back and backtested my system, the backtesting was actually great but I knew that the results wouldn't be the same, I'm down by approximately 5% right now. But I know that I need to keep on trading, and stay out the way of my system.

[@BM-yl4bv]

Currently doing my RG146 (course to give financial advice here in Oz) ready to set me up for this next step. What did we do to deserve you VP. 👌🏽

[@GalaxybearBoss]

Definitely the big bank video is my most impactful video! Changes my view!

[@arifmehmood5103]

You are my best teacher I love you from Pakistan 👏👏👏

[@isntlyfebeautiful4099]

For journaling my losses and wins, I just go back to them and look at them why those occurs on Saturday and sunday in my account history. So does it affect the same thing as trade journaling? Anyone feedback is ok for me. Thank you, NSFW.

[@hendrogunawan6700]

Been waiting for the video about how to face losing trade

[@jhood6931]

You were right Big Banks and Patience were the 2 thay changed the way i trade but this Losing. Ideo this was what i needed