Trading Psychology Event | A Trading Framework | Part 5

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Part 5 of Tom Hougaard’s Trading Psychology presentation unveils his trading framework. He gives us insight into his trading day and the preparation he does for it, including what he calls “scenario analysis”.
He talks about thinking the opposite of the 90% by ignoring what people say, and refusing to reduce his trading size when on a winning streak. Hougaard explains why not to open a position with a financial instrument just because the price has dropped, and instead shares his insights into when to buy and sell.
Tom also reflects on learnings from expert trader Richard Dennis and how he’s implemented them into his trading. Tom concludes this part of the presentation by sharing his four core pieces of advice for mental preparation, how to ‘become friends with fear’, and developing a low-risk idea.
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► Check out the other parts of his presentation:
Part 1: • Trading Psychology | W...
Part 2: • Trading Psychology Eve...
Part 3: • Trading Psychology Eve...
Part 4: • Trading Psychology Eve...
Part 6: • Trading Psychology Eve...
Part 7: • Trading Psychology Eve...
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#trading #stocks #stockmarket #tradingstrategy #tradingmistakes
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[@ThomasHenry144]

First money mistake to avoid is feeling the need to solve everything and be there for everyone, you have to invest in yourself before investing in others

[@MasonRoy822]

You live and learn. I blew two funded $50K accounts with Karen L Nancy mentorship program. It's really making me self reflect and be able to see my trading mistakes even more. I got caught up in revenge trading and not walking away when I should have.

[@IsabellaJulialove]

Our issue stems from the prevalent belief held by the majority that "having a good job is all it takes to become wealthy." Many people are unaware that these billionaires are using a different set of rules when conducting business.

[@JohnMichael007]

That's very practical and smart goal, a wise man once said do everything you can to get outta debt, one of his tips to get rich.

[@CharlotteNatalie-rt1gj]

The best approach for novices is to trade under the supervision of an expert, trust me you will be debt free.

[@EmilyNora234]

I start investing my cash in others to achieve all my dream with the help of Karen Nancy. The difference Mrs Karen L Nancy make in my life is second to none. It's definitely a life changing kindness. I really appreciate her effort in my life time.

[@Tofeu90]

"It is perfectly OK to see a big profit turn into a small profit, because how else are you going to get an even bigger profit." - this sentence opened my eyes...

[@jonaskarlberg1855]

Its an illusion. 80 percent of the time the market is ranging on a 1 hour chart. Adding to a position will just put ur profit = 0.

[@haliaeetus01k]

@@jonaskarlberg1855 Also don't like to keep doubling down on a winning trade. Its too risky

[@75PERCENTCOPPER]

@@haliaeetus01k not if you manage your risk correctly. But your right, it is risky, although with great risk comes great rewards, and let me reiterate, *manage your risk* 😂 its the hardest part I'm still struggling with. Good luck to you 👍

[@75PERCENTCOPPER]

Just manage that risk and don't get psyched out of your trades 👌

[@tygerk2372]

@@75PERCENTCOPPER Imagine that... This lecture came out 2 years ago, and here we both are; watching it in August 2022, recognizing what a great value it is --with unique insights that we wish to use to help us accomplish our dreams of being successful traders. Best of luck to you

[@PhilSommer2]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

[@LeonWilk2]

That’s crazy, I’m just doing everything wrong with my portfolio.

[@AvaAdams-ly7vu]

very true, I started investing before the pandemic and that same year I pulled a profit of about $600k with no prior investing experience, basically all I was doing was seeking guidance to make a from a financial-advisorr, you can be passively involved with the aid of a professional.

[@AlinaWinkler233]

Same here, 75% of my portfolio is in the red and I really don’t know how long I can stomach the losses. I’m beginning to reach a breaking point.

[@LeonWilk2]

wow ,that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio

[@AvaAdams-ly7vu]

The adviser I'm in touch with is *Jude Ryan Mcdonough* He works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me his strategy works hence my result. He provides entry and exit point for the securities I focus on.

[@georgestone0123]

I’m glad I pulled through, despite the crises. I am retiring next yr at 55 with 3 houses paid off worth 4.5 million . One is my place of residence the other 2 properties will give me $80,000per/yr rent. I will have an income stream of $20,000 per yr through my super which gives me total $100,000 a yr to live comfortably. I have no debts ... Stay Motivated!!

[@tahirisaid2693]

Heard many good recommendations about Rochelle Dungca-Schreiber by some YT channels, Seminars and other platforms.

[@harold456123]

So cringe

[@YoonPark-zu1ps]

House worth 4.5 mil total and youre only getting 80k as a rental income? Your property tax is well over 45k a year. Youre not getting 100k per year...

[@paulnixon4861]

What kind of idiot pays $4,000 a month in rent? Where did you find such stupid tenants with so much money? I'm just curious. :-)

[@paulnixon4861]

​@@tahirisaid2693This sounds sketchy AF.

[@Raymondjohn2]

This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.

[@hermanramos7092]

These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If youre not ready for it, you shouldnt be in the market business. or get you a skilled practitioner.

[@martingiavarini]

Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors' and hear-says, it got the best of me in the year 2020 and had me holding worthless positions in the market. I had to revamp my entire portfolio through the aid of Heather my financial advisr, before I started seeing any significant results happens in my portfolio. Been using the same advisor since then and I’ve scaled up almost a million within 2 years. Whether a bullish or down market, both makes for good profit, it all depends on where you’re looking…

[@Oly_laura]

@@martingiavarini Not bad at all. I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market. Could this coach that guides you help?

[@martingiavarini]

@@Oly_laura Finding financial advisors like Catherine Morrison Evans who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@Oly_laura]

@@martingiavarini Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@brettkeller]

this series with this guy is one of the most valuable things I've seen. my trading results have been better in the last 36 hours since seeing this.

[@OptoThemes]

Thanks for watching!

[@AkshayAradhya]

what did you do differently?

[@brettkeller]

@@AkshayAradhya stop trying to time the market and instead just go with the trend

[@75PERCENTCOPPER]

@@brettkeller yes

[@aGr3atD4y]

@@brettkellerOh, yes, i do that a LOT too

[@tonicruger]

I wish i learnt most of these principles about seven years ago. A lot of people have been trapped strongly in the matrix-- Go to school, get a job, and then slave your whole life. Many miss out on life-changing information that could have great effect on their finances. I played with the stock market sometime in 2020, and I was surprised at how well it turned out. I want to put in $90k more into the market. I heard people are making really great returns despite the downturn. Any recommendations?

[@sherryie2]

Nobody knows anything you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.

[@kurttSchuster]

@@sherryie2 I agree, that's the more reason I prefer my day to day invt decisions being guided by a fin-advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using a fin-advisor for over 2years+ and I've netted over 2.8million.

[@Mcllwain]

@@kurttSchuster I actually subscribed for a few trading courses but it didn't help much, been getting suggestions to use a proper financial advisor, how did you go about touching base with your coach?

[@kurttSchuster]

@@Mcllwain I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance wealth managers you could check out. I have been working with "NICOLE DESIREE SIMON" for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.

[@Mcllwain]

@@kurttSchuster I just checked her out and I have sent her an email. I hope she gets back to me soon.

[@pratikpatil9377]

He is the MAN !!!!!! I got what he was saying since first part, in this one. If you gonna go BIG then you need to act counter intuitively consistently until it becomes your nature, then the possibilities of higher outcomes open for you otherwise you gonna remain little and average. If you wanna play into millions and billions then you got to act counter intuitively and control your mind from interfering. MIND BLOWING....!!!! I gonna recall this EVERY DAY.

[@dannyd8347]

Hii there,can you please explain what’s his whole strategy is about? Is it going big after every win ? Then at one point we goona to loose all the profits right ? So what is the ideal profit target stop and stop loss. Thanks

[@Thlanc3]

@@dannyd8347 the idea is to just master your mind to stick to your plan and manage risk. Remember you can't predict the outcome of any trade but you know the odds are in your favor so all you have to do is execute once you see your strategy/setup. Let the trade play out it's the only way to find out your strategy probability. We're all good at chart analysis but is your psychology and mindset developed and ready to accept the good and the bad of trading?

[@drallanfreitas]

It's unbelieveble that the people do not see this event... but some lambo man has 3million views... Very good Tom, you have my respect, very very good!

[@satyensawant384]

That's why many don't have the lambo

[@blessingpaul5484]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.

[@user-cr8nd1sy8e]

Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.

[@alicebenard5713]

This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?

[@blessingpaul5484]

Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.

[@SophiaBint-wj8wn]

Wow, that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.

[@KatherineAnderson-lm8bw]

I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?

[@sebastianritter9256]

Tom is a legend and his Book changed my life. Not only for Trading!

[@Interhalter]

This man is dropping golden nuggets everywhere. Nice talk by him! Thanks for uploading!

[@gauravbhalerao7420]

This is quite literally the best piece of advice to beginner traders like myself. I've just recently started applying these concepts to my trading style and ngl it has completely changed my game. This guy is f**king awesome, they way he explains, his energy, his style of capturing the audience, is phenomenal. Really loved the series, and hope I get to meet Tom one day for he has played a great part in shaping my trading career as well as have an impact on my mindset as a whole.

[@OptoThemes]

Thanks for watching!

[@vetiarvind]

This has been a very educative series so far.

[@OptoThemes]

Thanks for watching!

[@user-uz9me1ii9r]

@@OptoThemes y

[@user-uz9me1ii9r]

@@OptoThemes sor

[@jordanj9116]

I’m just learning a month into it . Not even paper trading yet. Watched live trading this morning ! and he double down on the loser and ended up losing -$2400. This presentation is priceless

[@moneymakingmuro3932]

I live and die by; I must control my mind, otherwise i can’t control my future! That one rule is going to make a huge difference in my thinking. Thank you Tom. #newmantra

[@arpit92m]

I saw a reel of this man around 2 weeks back , he compounds on a winning trade , cut losses on losing trade I lost around aprrox 33k in 3 consecutive days, but on 4th day I earned approx 51k simply by compouding on every dip that day , same thing happened this week. I am feeling a little bit like a trader now

[@jehhandalealejandre972]

6 months of educating myself to be a consistent and disciplined trader and theeeen I see this. Mind blowing...

[@brianallen2600]

So Johhan Dale, it has been a year since you posted this reply. I have just now seen this video basically the same as you did, but a year later. Lol So, since it has been a year, has this kind of outlook on trading helped you very much?

[@Darfaultner]

What I got from this is what I expected. Psychopaths make good traders.

[@jonaskarlberg1855]

Not really. But adding to a position is not recommended for beginners. When you do that in a ranging market is just pure gamble, 50-50.

[@chrisjlee2013]

The part where he asked “So do you think the trades today and yesterday are interconnected?” really woke me up.. it’s one of my flaws in trading

[@perso7995]

you are an amazing guy. thanks for all the advice. I've been always thinking like "we have all the data in front of us? what keeps us from winning?" and found most answers in this conference. thank you and for your brilliant presentation skills.

[@baneetkumar6710]

This series is a masterpiece series any trader could ever watch, very much needed for me. Thank you so much, sir.

[@ramvaidhya22]

True facts...i know & understand this fact " let the winner run" long back...but not actually following it. Your teachings gave me the courage to make it happen! Thanks Tons👌

[@arafatulhasan1150]

financial market vs supermarket. Excellent explanation sir.learn so many things...thank you sir

[@lucreziamorganti9115]

Incredibly powerful and illuminating!!!👍👍👍thank you 🙏

[@infuglenn]

This is what i needed to hear, thank you!

[@ahamedmusharaft738]

"Add winning Positions" These words will change my entire trading approach 😊

[@AckermanTrade]

That is a perfect speech!.. Yesterday and today is different. It was me till this video. After that time I struggle to change my mind. Thank you.

[@timombogo678]

great series. "The day you add to a winner is the day you know you have become a good trader." So true.

[@conanvorloc5777]

“ It’s paramount to think the correct way otherwise you will be emotionally robbed of your greatest opportunity “. That’s pure gold tight there...story of my life.

[@lmichaud8586]

This 5th part made much more sense. I totally get it now about adding to winning positions. It's extremely counter-intuitive, and it takes exceptional discipline to do that.

[@DennisRay99]

Adding to positions has generally been bad in my experience

[@nicolaimarquez3055]

@@DennisRay99 You have to know when to add them

[@sugarbear1846]

wait so when do you ACTUALLY take your profit?

[@ezniyazov7970]

@@sugarbear1846 I take my profit the second I see a potential downtrend

[@authenticself3800]

Do it on a trending move..

[@tanoalcanoni]

Capo pelado! La ultima frase resume todo! Gracias Opto CMC por traer a este gran exponente. Suscriptor nuevo

[@evanbazzini]

When he talked about looking at the 1 minute charts and everyone laughed I felt attacked and had a breakthrough at the same time

[@nicolaimarquez3055]

@@100LOT Same

[@stevemagic5358]

What’s wrong with 1min charts and what was your breakthrough ?

[@theouts1der]

@@stevemagic5358 the small the time frame, less reliable the pattern!

[@tomyshaw1594]

Love this guy! Appreciate his thinking!

[@OptoThemes]

Thanks for watching!

[@superfuture433]

Keep adding when going in profit is an eye opener gonna start doing that !!

[@BugMateo]

Tremendous lessons in this series... Thanks, Tom

[@OptoThemes]

Thanks for watching!

[@darks7504]

It's interesting how every successful trader have their unique technique to read the market, I have my own strategy and I never seen anyone use a similar strategy and now that I heard your rule of how to operate in mondays it makes perfect sense with my strategy as well, but the reason is a lot more technical and mathematical (in my strategy). I really hope to pollish all of the psychological weaknesses to be a trader like yourself someday.

[@twan4788]

So much great information for free. I fucking love this man lol

[@aGr3atD4y]

Tom is so excellent, like a financial guru. Many of the things he's talking about are mistakes most of us have made. I just wish i watched this before i began trading instead of those fake gurus with lambos and fancy mansions. This is the real deal!

[@nicovornicu2573]

By the 3rd video i fell in love with this guy lol. Very good info

[@niro56]

*Thank You!*

[@viharpatel8195]

Man this is awesome..... This guy speaks from heart . Hope this channel reach 100k soon. Thank you sir for this knowledge.

[@OptoThemes]

Thanks for watching!

[@MarbleStatueMillett]

Add to your winners as it goes up, so have a base bet, reduce if it turns against you and pump it if it goes

[@Thenarayanaclips]

This guy has changed my entire psychology.

[@marangeanswer2668]

worth watching thumbs up chief ..... that's all i was looking for

[@zarols9445]

Golden Nuggets - Crazy how human I am !!! - So many points resonates with what I already noticed in my bad ways of trading - Took so many notes - Thank you a lot Mr Hougaard for sharing your knowledge - What an amazing presentation !

[@charlesbutler3097]

Thanks for the content. Great valuable information

[@kamohelofelixmonethi6609]

this man is so smart 😊

[@relaxedsoothingsounds1]

Its crazy to think that I applied the advice from this presentation a hours ago and I have a profitable trade smooth.

[@iamripoff]

Great speaker! Never heard of him before but love this dude

[@vipulnilkanth330]

One of the best lecture videos on stock trading i've ever watched. However, the sound level of the videos is annoyingly low. Please increase the volume of these videos.

[@mandyssugarshack6414]

Absolutely golden information. 😳

[@satyensawant384]

What a powerful session

[@AndreaFernandez-nh5qm]

Great content. Thank you

[@OptoThemes]

Thanks for watching!

[@tizulive9266]

this is gold

[@nonjaninja4904]

Tom is a really good speaker.

[@lombardo141]

I just started to get consistency. Year number 4. I just need a couple of more months to eliminate the statical chance of luck then I will begin the process of sizing. I do very well trading 1-2 contracts so it just makes sense to steadily go bigger. My biggest position was 6 contracts of the DOW mini and it was very very uncomfortable but I know if I needed to get where I needed to go I have to make trades like that more often.

[@luisdetomaso2224]

Have you considered using backtesting to help prove you are not just lucky? It might help accelerate your time frame - and allow you to size up with more confidence!

[@lombardo141]

@@luisdetomaso2224 I have been back testing. But I feel like my hit rate is way to high. I have not had a losing trade since middle of December last year. This has never happened to me before so I have to thread lightly and size up steadily. Am not in a rush.

[@overPowerPenguin]

@@lombardo141 What you trade if you don't mind.

[@lombardo141]

@@overPowerPenguin DOW Minis(FUTURES)

[@sugarbear1846]

wait so when do you ACTUALLY take your profit?

[@rameshj7574]

Tq u so much for that person and this channel ❤❤❤

[@tblightningbolt8902]

This is amazing. Thank you

[@rov.3358]

damn straight TRUE!!!

[@stebarg]

I for sure belong to the one percent club.😁 My mantra is “The majority is ALWAYS wrong.” 🚀🚀🚀

[@betangabehtabe4657]

wow thank you sir what a great inside

[@brentbel1348]

2020 was a whole new ballgame!!

[@DennisRay99]

A fine opportunity

[@kapilsharma-ls9qc]

This guy change my trading psychology to do better in trading

[@TheWinghochui]

Thanks for your sharing!

[@alexmazal-nirexpress1233]

Great content, great speaker learned alot , alll episodes are facinating🔥💐🦄❤💯💟📈📈📈📈📈📈

[@OptoThemes]

Thanks for watching!

[@LukeOnTheMove]

Love it thanks Tom and CMC my broker lol

[@marukastrys3328]

Brilliant! Absolutely Brilliant!

[@OptoThemes]

Thanks for watching!

[@Kbramlett94]

Love the mentality

[@m.dickinson436]

Very wise and useful advices

[@OptoThemes]

Thanks for watching!

[@TNT-lu2et]

This guy is Awesome

[@ifthaker2277]

This video is free. and it's illigal!!

[@aristark559]

what a great speech

[@ms.q7445]

I love this!!!!!!!!! It helps a lot.

[@OptoThemes]

Thanks for watching!

[@ms.q7445]

@@OptoThemes 😘😘 Thank YOU!

[@DemeDusa8]

Im so understand what he says ,wow i found my own mentor now ,

[@sportingsharksfcnfts5211]

Great advice. Been trading 22 years consecutively and I agree with almost everything he’s saying

[@christianajoe8563]

Most people venture into crypto currency to be a millionaire meanwhile I just want to be debt free and live comfortably

[@ningyen1444]

Assets that can make you rich Bitcoin Stocks Real estate

[@claresmithy4667]

You're right, it's obvious a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to remain poor

[@haydencraig7149]

It's not ignorance but due to some unprofessional broker in the market

[@thomasdooley3702]

I recently got into forex trading and im already marveling over the profits I'm making, I'm like " how the hell have i been sleeping on this

[@loydriley9221]

Same here, I wish I knew about this Bitcoin trading earlier, brace up and get yourself some Bitcoin before it's too late

[@kylemacinas2894]

this helps a lot thankyou

[@OptoThemes]

Thanks for watching!

[@arvi79]

Can you post link for the presentation slides ? Thanks for uploading this

[@phanindra4700]

This is GOLD! from INDIA

[@Footy_saga]

Wanderful knowledge dropped ✔

[@bahdeng08]

Hidden gems 💎

[@combofist5024]

at 22:45, I actually read all your notes in your chart. Please correct me if I am wrong. 15:44 and 15:54 and 16:44 and 16:47. It seems like you were adding to your losing position. Your short entry price was 23,510, 23,534, 23,581, 23,567. As a result, you made a loss of 225,000. thanks.

[@Skyler_Oryan]

Exactly! He added 3 times to a losing position, held the losing position to a huge loss and for a long period of time, and never added once to any winning trades

[@greenparadise2]

LOL thumbed up the video once the guy crawled over the chair!! 14:32 this is what passionate looks like hahaah NOW IS NOT THE TIME TO THINK WHETHER YOU LEFT THE STOVE ON loL!!

[@TiffanyT-LaDolceVita]

I had to watch that part a few times.

[@alexmacgregor8231]

Anyone know if we can find this full video? Thanks!

[@wealthforwitches]

2:38 Loved that

[@ReleaseMyKrakken]

How do you add to a winner though? Like consider it a new trade? Pretend you aren't in and pick our a new position that you would enter? That sort of thing?

[@gennadiwegner6136]

This is how i imagined the rich where taught behind closed doors!!!😂😂

[@theodorekalfagiannis7506]

The doors are metaphorically closed, how many poor people do you know that are actively researching the right topics and retraining their internal beliefs. These events are everywhere, yet people will actively avoid them in favour of spending their time doing something with the illusion of value.

[@trendingvidz2]

@@theodorekalfagiannis7506 agreed, there is an example in “Rich Dad Poor Dad” too.

[@RecapBoondocks]

Oaky you funny 😂😂😂😂😂🔥🤝😂😂😂😂😂😂😂😂😂😂😂

[@churchillmmadu]

😂... definitely

[@chrisjackson8858]

That’s an excellent perspective.

[@erensahinoglu5217]

EXCELLENT

[@lastsmoke]

Thanks for the great video, not only very helpful, it's also fun to watch. The audience is too quiet though.

[@OptoThemes]

Thanks for watching!

[@ckher777]

All flips are independent like all trades. HOWEVER, The laws of BIG NUMBERS connects all trades or coin flips toward the bell curve statistic. You can only have so many black swans, the mathematic is never wrong UNLESS coin or system is rig.

[@GForceimpact]

Thank you for sharing these excellent videos! How can I watch the next 3 episodes!???

[@OptoThemes]

Hi Grant! Great to hear you're enjoying these videos. Please see the final parts which are now live on our channel :) Also, keep an eye out this week for our interview with Tom Hougaard! Thanks, Opto.

[@GForceimpact]

@@OptoThemes Wow! That's fantastic! Thanks again for this wonderful series!! Best Wishes.

[@OptoThemes]

@@GForceimpact Thanks so much for the great feedback :)

[@jehhandalealejandre972]

Damn good!!!!!!!!!

[@OptoThemes]

Thanks for watching!

[@IshakMujevic]

Who could possibly except that trading ming is zen mind 😀

[@winstonk400]

I listened to this once and went and crushed us30! This is mind blowing and life changing.

[@user-wv2cg2mr3w]

OR, instead of adding size you can simply go all in with proper risk and take profits on the way. marginal differences

[@azeezraza2992]

Hey! Anybody know what the formula is?

[@sandipmaurya7371]

Subscribed from India

[@luisdetomaso2224]

Blank canvas is key. Chatrooms are toxic unless you find value in listening to the 90%

[@lombardo141]

Yeah but you are missing the point that he had a career in the industry. Most traders are alone and never traded in Wall Street or the city. I would say eventually you have to lean off them but they serve a purpose.

[@luisdetomaso2224]

@@lombardo141 As a profitable retail trader who makes my living trading, I have to respectfully disagree. In fact, I now have a trading rule to avoid chat rooms because they can be psychologically detrimental by causing me to second guess my proven trading strategy. My advice to a new trader would be to learn from proven masters and knowledgable teachers. Chat rooms are full of wannabees, gamblers, and people simply looking to affirm their positions. Very few people who are aces at trading post in chat rooms. We have more important things to do with our time and energy. The people posting are usually either inexperienced and still struggling to become profitable - or selling something

[@lombardo141]

@@luisdetomaso2224 well the chat rooms are created for the newbies. But you are right overall that’s why I said eventually one has to wean off of them. Sooner than later of course.

[@Tony-ee3nm]

@@luisdetomaso2224 Thanks for this insight

[@Punisher1996]

"My next trade will be the best trade of my life or a little loss" I'm framing this shit