Trading Psychology is Bullsh*t... here's why.

I use TradeZella to track, journal and backtest my trades.
www.tradezella.com/?via=umar
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#daytrading #tradingpsychology #trading

[@UmarAshraf28]

Should I make a video on HOW to develop an edge? If so let me know👇

[@pythonchin779]

Definitely

[@WeActUpp]

yes!

[@flashlightradiotv]

Yes

[@shayneduncan6600]

Maybe make a better video on trading psychology first, because this shows how little you know about it.

[@larrycheak2133]

Yes

[@Vktradesimb]

Yes Umar, correct. 1) Psychology is the hyped logic to sell their courses. 2) You can take bad decisions when you don’t have your setup defined 3) As long as your setup is defined exits and entries must be refined through that 4) Your psychology helps you in different vantage points and approaches 5) Rule book helps you in Overtrading too. 6) Your psychology comes in play when you can’t let your winners run and let your losers run

[@scorpioindigoo]

best comment on this post 💯💯💯💯

[@valuetainer3437]

I've been sayin this since it dawned on me too, a rock solid strategy trumps "psychology" and to develop that takes time, but once you have it down you just follow your strategy to the T and a true strategy has many nuances and subtleties because it needs to adapt to any environment, volatility, seasonality, different types of market etc, and that requires a lot of repetition, experience, screen time so on and so forth once you've completed all these stagies you're just a robot, executing the program, this is the final level, and we know robots don't have emotions therefore no need for "psychology"

[@Vktradesimb]

@@scorpioindigoo thanks mate

[@rodolforoblesarredondo]

Need more Blcktken300 content. Converted my ETH to BTC but kept my Blcktken300

[@daemonkoele]

Psychology does not equal emotion. Psychology is about your beliefs and your mindset - the way you think. Emotions are then physiology - a body/chemical response to the thoughts. Your beliefs about trading can impact HOW well or poorly you design your edge... as well as how you react to price when trading that edge. In my opinion, better mindsets unlock better edges and aid better emotional management down the road. 1. Psychology should come first. Understand the game AND how to think about it. Understand yourself, the responsible party clicking buttons. 2. Let that knowledge help you build and refine your Edge. 3. Finally, emotional awareness, breath work, and meditation can unlock clarity and better execution. of course, one will probably only move through things in that order if they have a mentor directing them... which I wish I had when I started

[@dharris577]

Powerful, coming from someone about to get started at 50! This dog's gone learn some new skills.

[@damsolechauve6430]

"Facts: It's hard to be patient when you don't know what you're supposed to be waiting for. Work on that playbook, then work on your discipline and patience to stick to it."

[@tequilasteve2833]

That makes sense by making sure you have a winning strategy to begin with, it will eliminate a lot of the emotion before you even place a trade.

[@owenhartman484]

It doesnt though because you never know whats gonna happen next lol ("making sure?" there is no certainty... ZERO) you never know if you have a winning strategy because any strategy can make money, intuition is the "holy grail". Eliminating emotion is a by product of taking conscious control of the emotions themselves and changing the beliefs that trigger the emotions so theres no longer any potential to feel those negative emotions. YOU DONT NEED TECHNICAL ANALYSIS PEOPLE, ANY FORM OF IT, ZERO, ZIP, SQUAT! No offense to Umar, great trader, but Mark douglas has this dude beat by a mile. Trading Psychology is the only thing that matters. "Edge" is literally everywhere.

[@44beebe]

simple video but sometimes the simple ones are best. Important to judge where you are at with your edge. Define where you have an edge and make sure it is real through testing and practice. I have really very few tools that give me an edge, but I have found ways to combine those tools and use them to trade different scenarios/setups. I still need to work on improving those setups to know the best ways to trade them through back and forward testing. I am sometimes too anxious to trade setups when I have not clearly defined how I SHOULD trade them based on an analysis of data I have collected. I have to start with clearly defining my setups and having a framework for how I should trade each setup. Only after that happens can I focus on improving the execution and controlling emotions. I definitely had this backwards for a long time and I still sometimes let myself think my problem is emotion when it is more about not having a clearly defined strategy and method for trading that strategy.

[@josephfornes3763]

SO glad you posted this! I noticed this with myself. Since I’ve become profitable over the last year I’ve seen how strategy/edge is truly the first thing to get down and THEN the psychology follows because mentally you must adapt to your style of trading based on your edge whether it be certain timeframe, risk appetite, etc. but that all formed from having a edge and system! Thanks so much brother confirmation right here for sure

[@BreannaTrevino.]

Extremely grateful for your ability to teach in such simplicity. Grateful for your channel !

[@user-gm4rk2nb9q]

This really make sense. You're always my Inspiration.

[@YashPatel-fl4lr]

One of the best explain of Edge & Emotions👏👏👏

[@JoanArias-zv4fw]

Great video. Im a huge Blcktken300 fan and love your videos on it.

[@harishjangid3528]

Thank you for your support and all the best for your future

[@inthezone2023]

That's why the late Mark Douglas always said that he expected people already had an edge before he could start his psychology lectures...coz his work was not to teach edge.

[@basseverexclusive8047]

I wonder how it gonna looks like when a new trader without experience in trading decide to learn trading by reading trading in the zone at the first place... Cuz, i dont think they gonna absorb or understand the information what is going on if they never experience the trading process itself.

[@deedsofdecapitation7477]

I dunno. Mark Douglas told me to not worry about psychology, and just buy cheap OTM weekly call options.

[@nnconfomiststoic7346]

​@@deedsofdecapitation7477i buy otm options and yesterday turned 200 into 1105. What matters is defined strategy and trending market

[@paulnyagini]

On my experience when a person have an edge that's he truly understand he probably have a good phycology automatically.

[@OlydiaBee]

Great info! Conquering the emotions💯

[@Twtp6247]

Thanks for your free course it’s been awesome in accelerating my training!!

[@spidaman8888]

I love watching Umar Ashraf, Stock Brotha, & Everything Money. Love them all! ❤ ❤ ❤

[@TheDifferentTrader-hx8sg]

Nice info and tips, I do have an edge, worked on it in isolation for 2 years straight. The only problem I have now, that I need to figure out is when I draw my levels and take no action when it gets hit, its a perfect level, perfect entry. When I do the exact same and I go in, its a totally wrong entry, as many can imagine, thats absolutely annoying, but nothing else to do than to go back to the lab again for the final touches. Good luck to everyone!

[@bensonkarani_]

Thank you. I've just come out of the second phase, and I can say you're correct 💯

[@johndagmundex6494]

The man I look up to, always speaking facts, no bs.

[@tonyanderson185]

I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Katherine Flores.

[@michelleyoung379]

I'm surprised that you just mentioned Katherine Flores here. I met her at a conference in 2018 and we have been working together ever since.

[@MichaelConnor57]

Flores' expertise in customizing investment portfolios based on changing market conditions and personal risk profiles is exceptional. It's not a one-size-fits-all approach, which is crucial in crypto investing.

[@alexanderbutler859]

The very first time we tried, we invested $1400 and after a week, we received $5230. That really helped us a lot to pay up our bills.

[@mathewboniface504]

You trade with Katherine Flores too? Wow that woman has been a blessing to me and my family.

[@dr.ahmedali958]

I'm new at this, please how can I reach her?

[@rohitjadhav131]

The sequence is beautifully explained brother 🖤

[@danlikespez1]

Thank you for this. This was perfect. Never thought of it like that.

[@scotti0702]

Umar, mad respect for you, both your trading and your Tradzella venture (the Ferrari of trading journals). Your Vids are intelligent & to the point, your success without question, and I never leave with the feeling that you have an ulterior motive or don't give a dam about helping others. Thank you. Without a measurable system (or Edge), we can't know if it's our system or our psychology or both causing PNL losses. Trading a sim account without real money is how to safely develop the edge & remove the psychological variable, then with real $$$ we can test our psychology. If I could ask 2 wishes - 1) some real time examples of watching order flow in the tape or level II, you've teased more detail, but I can't find any vids with it. (i.e. showing a live tape and calling out what you look for and what you infer from the activity happening) and maybe 2.) unpacking at least few basic rudimentary playbooks you use often instead of the quick peeks we've seen that are of great interest to many! Thank you sir! You are appreciated.

[@erichkovac6000]

Perfect video. Thank you ✍️😉🙏

[@atutufelix2063]

Thank you very much boss. Great insight.

[@ThetoMogale]

100% bro. Very insightful video. Edge first and then psychology.

[@10di_livefree]

This is absolutely correct… yes you need both but I’d say learn your way around the markets first by understanding how to trade and having a process and when when your able to execute then psychology comes in.

[@Boschie143]

Thank you Sensei, this video was exactly what I needed today. You are always such an inspiration, and greatly appreciated!

[@LongTu167]

Thank you Umar, completely right!!!

[@juicybossfights]

Top video. Sounds quality was a bit off for some reason though. hope you fix it. not major thought bcz content is always king!

[@vicks3258]

Great lesson Sir.. You describe basic point to making edge

[@edgarsanchez9192]

I disagree, I think emotions play a role during the entire process. From the very beginning and it’s something you must continue improving in if you want to continuously grow in trading. But I also agree that there’s a lot of beginner traders that blame emotions when in reality they haven’t developed a trading edge.

[@scorpioindigoo]

are you profitable.. do you make at least 6 figures a year trding?

[@godsoracle1212]

I know traders who have no care about motions that jumped right in nd made money and continue to until this day. They knew nothing of psychology. It is simply buy and sell starting with a 50/50 chance. Build from there.

[@scorpioindigoo]

@@godsoracle1212 true bro, but the consistency curve of profitability doesn’t last long without an edge

[@OnePercent_Solution]

Incredible insight!! What a maturity at such a young age .. you are doing tremendous good to the world of trading

[@cesarazevedo6713]

Great information in the video but also really divisive. We all have different backgrounds and this “edge is more important than psychology” idea really undermines where we individually come from. Some people’s psychology is preventing them from even being able to consistently identify or craft an edge and caps their growth potential (I’m a prime example of that lol)

[@all-o-nothing]

Thank you,extremely valuable video.

[@JP-vu6mz]

SImple and clear explanation of the fundamentals of trading. This kind of knowledge only comes from self reflection and experience.

[@soyagus-qq2dy]

Blcktken300 is the embodiment of crypto euphoria! 🌟

[@harissheikh89]

Exactly what I was looking for. Thanks for sharing

[@hyperbolictimetrader9126]

Great video. I also think, the only time emotions/psychology plays a role, is if a trader is not confident in their setups/strategy. A professional trader doesn't have that problem, he/she will always be confident in their setup/strategy, win or loss, because they have back tested their strategy and they know that over a series of trades, they will be profitable, so they don't care if they lose 3 trades in a row, if thats a part of their playbook/strategy.

[@Petermoseri_]

you can have an edge and not make money consistently(due to lack of trading psychology) You can have develop trading psychology and not have an edge(due to lack of developing a structure in an unstructured environment) Solid video ❤️

[@KoladiK]

It changed the game for me combining Retail trading plus SMC and actively reading candles movie to identify buying or selling power

[@Deepak-xo8pt]

what an eye opener

[@michaelgakis1394]

Brilliant video. Thank you very much for it 👏🏼

[@HT_Ray]

Dude, that is so good! Clarity is a superpower

[@mayursinhrathod3592]

This video gave me more guidance than any Trading psychology book. Thanks Umar.

[@Linda.xing-tj2fh]

Claiming trading psychology oversimplifies things. Emotions impact trading decisions, and ignoring that can lead to mistakes. It's crucial to recognize the role of psychology without entirely dismissing it.

[@camela8445]

Absolutely. Emotions can cloud judgment in trading. Acknowledging the challenge and seeking advice from a financial advisor who understands both the market and human behavior is key. It's not about ignoring psychology but managing it wisely for better outcomes.

[@Thomas-ff7wn]

Like Carl Jason Cohen

[@motionfx1337]

This is so important. Without an edge, all the psychology in the world is useless. People in the comments are misunderstanding your video and think it’s an or argument.

[@nelson1clay]

great to hear and though im new I completely understand one way i look at is once you have a car you have to learn how to drive and drive well, before you decide that driving just isnt for you... to become emotional prior to becoming good at ANY skill... thats Life. and learning takes time, its the idea of being able to make money. The potential to make money opens up a whole new avenue of emotional hurdles.

[@Ash__7]

rofl There's actually a video on this guy's landing page about "7 things he learnt in 10yrs trading" and the last section is "trading psychology" in which he explains that "trading is 90% emotion, there's so much psychology involved, I can't stress this enough." Clearly a very serious person.

[@1h2j2k]

Wonderful brother!!!! I am a new trader.....started 2 months ago.... I can relate to wad you say...!!!! Nd honestly....untill now....by default.....I am trying to approach it the other way.. .!!! 1st emotion...2nd system And I end up blaming my psychology.... Felt it today itself...!!! After exiting my positions....!!!! SO A VERY FRESH EXPERIENCE 😂😅... WELL ..YOUR WORDS HAVE MOTIVATED ME TO NOW CHANGE MY APPROACH..... AND HOPE TO GROW....AND CHANGE Thanks!

[@izuddin1978]

Thanks for sharing

[@marcushampton2075]

Really good take on how it works.

[@baljeetsamra8295]

1 david paul advice change my trading completely is he said place the buy or sell order where people have stop losses that is how smart money trade.

[@billfranz4488]

Trading psychology is absolutely necessary for when the edge doesnt work.

[@cedrickgutierrez8024]

100 % correct!! the point of this video is if you don’t have a good strategy, you’re not be able to trade, yes having an edge is difficult but you follow your rules of your strategy, the psychology doesn’t affect your trades…

[@grumpytrade]

Great insight, one of your best if not the best.

[@realrighteoustv2496]

very very very well said! thank you

[@Amelia94411]

*Excellent content! I really do have a question. For someone with less than $10,000 to trade, How would you recommend we enter into trading as a newbie? I am looking at trading with professional trader and copying their strategies rather than trading myself and losing money emotionally. I would greatly appreciate any suggestions.*

[@Amelia94411]

Wow!!! I'm a beginner where can someone reach Mr Morris.

[@ChangChao454]

Wow!!! I'm not shocked that Mr Morris name was mentioned and recommended. I learn and earn through he's analysis. Which speaks volumes about him. I wonder if he trade with magic power. 48k made last week.

[@PhilipWood-eo6fn]

I'm a newbie in trading, but I'll linking up to your coach. This is useful info❤️♥️♥️

[@Vktradesimb]

Instead of 10,000$ bring that down to 1000$ in the meanwhile understand how markets work and start taking the heat of the markets by maybe buying stocks worth 100-300$ this will help you in understanding the schematics and mechanism

[@Vktradesimb]

Avoid copying trades, once you understand the mechanism you will start to like the process and develop more confidence as well

[@detovi2]

Good one! Thank you

[@maderastuff]

Futures trader here - When you backtest, do you have a program that inputs all the parameters and just like...highlights them? Like ctrl F. Or do you manually scroll and find each setup 1 by 1? Trying to get my shit togethet and thats one backtesting question im working through

[@jameslinmd]

Umar is absolutely right. Profitable strategy is the first and foremost. Without an edge, trading psychology isn't going to propel you into profitability.

[@yurichitabarich]

That's what I have always thought. A lot of "mentor" say psicology is more than 80% and that's where I know is a bad mentor and maybe even not profitable

[@UmarAshraf28]

Psychology is important, but you should focus on it once you've developed a profitable strategy...

[@denzelchinho7628]

I love it that people are bringing more light to this, i have a friend he went live after two days of learning about forex, he didn't even know what a pip was and he was like i can't do demo there are no emotions, that's when i realised a lot of people don't really know how to trade😂😂😂😂😂

[@kastlecapital]

what program do you use to stream what you are writing on pen/paper onto the video like this? Is it a special tech pen/pad?

[@jashimpp-vi4rt]

Make sense. Excellent topics

[@lewiskellytrades8]

Couldn’t of said it better. There is no doubt that trading psychology is extremely important, but it’s completely useless unless you can prove it’s an issue. The only way to prove it’s an issue is to have an edge and display difficulty allowing that edge to play out. Then and only then can you address it as a psychology issue. Anything in trading is secondary to actually having an edge.

[@monserratmeza8533]

Great video, Loving your content ....

[@waseemkhan-pk2fy]

Need more about this.

[@BB.TRADES]

Beautiful content!!

[@arpitapatel2347]

I was just thinking of developing an edge by watching your interview with first thing thrust .......and how can i do that .....what is the proper way ....and this video uploaded ....thank you universe ......thank you sir ....this videos means alot to me

[@v3n481]

True. Without positive expectancy strategy, all you can do by being psychologically strong is to confidently and consistently lose money. When there is proven strategy, no need to think hard, just follow plan and probabilities will do the rest. Unless a trader is on meds or mentally unstable, every healthy human is already psychologically strong enough by default to make money when there is a proven plan.

[@rickyraz91]

When will you come out with a trading course?

[@coulibalykakparidjogni4397]

Thanks Umar !

[@amitrandive1509]

I really wanted to hear this 🙂

[@milos4437]

Amazing tutorial! Bravo 👏 👏 👏

[@pakshalparmar]

Thanks for knowledge ❤ Love from India

[@kiranchaudhary8407]

He is right.. having a edge first then working on our emotion and psychology is a way of being successful trader❤

[@samujadama4921]

The trading world needs your mentorship!

[@nickmmm]

Excellent exactly we don’t have edge. This is the reason. Thank you so much Umar for giving. peace of mind to those who blame only psychology

[@Aryantrade]

Hello sir tradezella is not available on Play Store, what can I do.....

[@abdullahwarraich1347]

I understand your point but i have been doing this for 3 years now and what i feel is from these two things your peychology is most important and then your risk management if you have these two even if u trade with the coin toss everytime u can make profit but its not and shouldn’t be the end goal

[@elitesniperstrading]

Thank you for help sir 🙏

[@sandeepjnanesan4070]

very true, thanks for the video

[@jaideepsinghkapoor6490]

For how much time you forward test a strategy for?

[@rawwr2469]

This man has quickly become the Tony Robbins of trading.

[@albinsmathai8521]

I totally agree with you, why because before an edge I can't even control or i doesn't have a plan in the market to enter, exit and all after I found my edge, set up i figured all then i can control my lose emotions all stuff❤❤

[@crisescopete]

Thanks sir.🎉

[@DavidOgden1]

"I've only recently realized the importance of addressing emotions, thanks to creating specific playbooks and criteria. It's spot on! While I worry some may not grasp it, if just one person does, it's still a significant achievement."

[@1coingaming959]

This is the video I needed thanks bro❤

[@user-iz5hr8wq1p]

We need a video of how to build your own strategy

[@paulnyagini]

Build a strategy is not hard. Building a strategy that's have an edge that's super hard.

[@N_M_46]

Hell yes. Finally someone said it. I get so fricken frustrated with all the people telling me it’s about psychology. I was literally a psychology major. I have a high degree of emotional literacy. It doesn’t matter if you don’t know what you are doing and it just simply takes sooooo long to learn all the little nuances of trading

[@dawnnbaby]

thank you so much teaching us this today, I managed to find the missing piece I need in this video *huggs*

[@JohnnyQM1]

Great explanation, I'll say this also, the emotions aren't as bad when you have done the work of back testing and forward testing. By that time a real trade is on you should have a lot of confidence in your set up and an understanding of how to handle it when it doesn't go your way. Trade what works for you and practice both the wins and the losses so your ready for anything market will throw at you.

[@drleo6409]

Some disagreed with him but the reality is you’ve got to know what your plan is. Then you deal with sticking to it. That is the psychology side of it sticking to a known plan.

[@nnconfomiststoic7346]

​​​​​@@drleo6409exactly! I dont backtest , just follow my plan and becoming profitable, always ensuring losses are minimal. Only two trades per day. Three when the market is exceptionally good. That's it. I don't trade at all if i don't see my setup. Day trading doesn't mean trading everyday. You must wait for the setup, if it doesn't show up, no trade

[@nnconfomiststoic7346]

Sometimes it's time to go long, sometimes it's time to go short and sometimes it's time to go fishing, Jesse Livermore

[@ntuidanito4563]

This is the summary about everything you need to be profitable i swear 😢 🙏🙏🙏🙏❤

[@akposoke]

Hey Umar, please what is the app you’re using to take down this note on your iPad you’re using to illustrate on the video. Thanks

[@futurewealthmovement]

YOU SIR ARE A G. Thank you 🙏

[@11thFloorz]

You the man brother!

[@HolisticMadams]

I definitely agree, 1. when you invest more capital into a trade, your emotions will be tested. 2 Emotion & a tested Edge are key. I believe there is great importance to be placed on the pychology part of trading from the very beginning of the trading journey.. So when these emotions, THAT WILL SHOW UP, test you, and the proven edge you use, you've already begun learning how to manage emotions. Thank you for the good tips 😊

[@jimingym4643]

Fear and greed can be solved by having set rules. For instance, two losing trades means you stop trading. Two winning trades means you stop trading. Having rules protects you from any bad psychology.