Trading Psychology Podcast Ep34: Regret

"Regret is a wasted emotion"......or is it? This one can actually go both ways, and if you can figure this out and learn to harness your regret, good things will generally happen to you. If you can't -- man oh man can this thing take you down for good. VP and Robb break it all down, and as always, offer solutions, in Episode 34.
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The hosts of this podcast are not licensed financial advisors, and nothing heard on this podcast should be taken as financial advice. Do your own research and understand all financial decisions and the results therein are yours and yours alone. The host is not responsible for the actions of their sponsors and/or affiliates. Conversely, views expressed on this podcast are that of the host only and may not reflect the views of any companies mentioned. Trading anything involves risk. Losses can exceed deposits.
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[@411faithhopelove]

This is one of the most important podcasts every trader needs to hear. Pure gold. Loved the points about using regret as a positive force and judging your trading by your actions and NOT your results.

[@mrz007]

Experience taught me that regret is a stupid emotion to have in trading, opportunities lies in front of us literally every single week

[@javanmh]

This episode is not about merely trading, it's about life! Awesome!

[@makotounagi434]

This is one of the best podcasts on this channel, kudos 🎉

[@badboysandhu]

I turned $300 to $5500..during the Bitcoin crash ....i felt i was Jesse livermore... Then of course i lost it all.. That stayed with me for a bit.. What a valuable lesson

[@kantilalgohil2133]

This video is so much required and not to soon either. Thank you VP and team for putting this video together. Everyone needs this advice as it is so crucial in life. 🎉🎉🎉🎉🎉 😊

[@Activetrade2020]

First we here gang ☝🏾

[@paulbucklebuckle4921]

Second comment , it got very deep, very helpful philosophy and psychology. Thanks

[@maliavance6511]

Thank you, I really needed to hear these words!

[@pippybanks2480]

Damn this 1 hit home !!!!!!

[@Porphyrogenitus1]

I had about a third of my stash on Celsius when it went belly up and I spent the rest of 2022 doing what I could control: making myself whole, and taking to heart the lesson of being more careful in the future. So I agree that having been scammed I'm more alert to the signs. I'd like to say I now won't be scammed again - I do know I'll never trust my stash to a counter-party like that again. But nobody can say we'll never get scammed again. Still, I agree that it does make one more alert, more wary, and less prone to fall for grifts. I hope. I've also spent the last year or so learning how to do it right so I won't feel the need to put my hard-earned funds into someone else's hands in the pursuit of some percentage of (fake) return.

[@sanisakau1406]

Hey VP. I love this one..regret. i got some in trade... sani-malaysia

[@eddiejimenez9299]

I can see Patrick in an alternate universe begging on the side of the road with a cup labeled - I need Money for Trading 🥤- You are the best VP...

[@darkostefanovski7647]

Go VP 🎉🎉🎉

[@KyleBaran90]

It's been said many times that losses hurt you more than a win helps you, so I'm much more defensive on my trades. I'd rather make no trades and stay in 4% bonds and miss that big rally in tech we have, instead of jumping in late and getting burned. There's a few trades I have my eye on, and I'm slowly learning to say "no" to "exciting" trades that don't follow my system. Even on Robb's channel, his rule of only trading liquid stocks above $100m cap would've kept me out of some smallcaps that only lost me money. It's a process. Back during 2021 or so, I put $850 into crypto and traded obvious scamcoins that would rugpull in only a few hours from launch. But it was easy - put $20 or $30 in, it gets shilled, and exit with $200. I got my account up to $9,000 but didn't take profit. Now it's down to about $500. The kicker is that one of them actually lasted several months before it pumped and dumped. If I had sold it at the peak, I'd have gotten $200,000 from only putting $500 into it. But I don't regret it - how could I have known it would pop off like that? I didn't have a system, I was throwing money at the casino, and slippage was like 16%. I felt bad at the time, but not regret.

[@Porphyrogenitus1]

"focus less on Crypto and more on equities and FX" Sure. I get it. But at the price-point I got in, my main regret was I didn't stick with it (I wasn't trading, I was buying a bit here and there as a grad student. But grad students have tight finances). I would have had to master options trading to have the % gains I have even after two bear markets. I get your point though. Especially since with diminishing returns and all and the volatility. But the way the regret fuels me is I started sticking with it and learning trading instead of just putting money in ("DCAing"). DCAing into metals over that same time period? Nope. Probably nailing top stock picks would have been at least as good and I suppose my other regret is not buying Amazon stock around the time I first started buying books from Amazon (remember back when it was basically an online book delivery service)? Thus I'm spurred to invest now. But one thing is if anyone went back in time and told our younger selves to do what we're doing now, I lul at the idea those kids would listen. "Sure thing grampa!" Of course we can listen now instead of wallowing (that's the point, I know) but there's a reason these mistakes are continuously made. "Time cycles repeat because human nature does not change. Nature's laws are unchangeable and no man or set of men can change them." - W.D. Gann (Before someone in the comments misunderstands what that term means/meant in context, it's true of your womyn too).

[@savagestudio9666]

I had close to 100K in the crypto Bullrun. It was November 2021 and I was 22. Now I have 30K but that -70K torture me for a good year. Listening to this podcast is some of the actions I am taking to grow from my mistakes. Getting more in touch with my trading style, money management and psychology regarding the market. It’s so dumb that I was that much all in when I start to trade (barely) in summer 2020. But I see it as a fast slap and it’s perfect that it happen early in my life and with a losing amount that is actually not so bad (could have been way worse).

[@savagestudio9666]

For now the basic macro psychology lesson for me is to work hard at the top of the cycle (not the time to rest) and be aware it will not only go up haha. And the bottom of the cycle is the same as the top, time to work and be aware it will go up some day. That’s at those times where emotions are super involve or not involve at all and just make the trading bias.

[@Imknottshore]

Was up 50k 2 years ago in crypto bull run and had no idea what I was doing. Didnt sell and now still below 10k but feel like Ive got over it and Ill be ready the next time

[@kellybasil1]

Please can y'all talk about anxiety and nervousness while Trading, this has been the major problem I'm facing since I started trading. There's always this rush of chemicals or emotions or whatever it maybe that always start running down my gut anytime I click the button even when my system has all the proof that the trade I entered wasn't a mistake or out of emotions. It's always hard to concentrate with these kind of emotions running inside of me except I turn off my computer or walk away from my phone or screen till the trade triggers my stop or target. Can y'all empathize on this please... Idk if this happens to others or am I being different?

[@NoNonsenseForex]

Have you checked out all the episodes? I feel like we have done that, even though we didn't do it directly.

[@alanshortall6840]

You could pick stocks to trade on the flat earth trading channel by taking the first three letters from the name of the first commentor on a previous video - this one for example. Should help you boost engagement even if KZbin is attempting to sideline you for the channel name.

[@KyleBaran90]

I did have a chuckle when I saw the disclaimer too. I also look at license plates for ideas, or captcha codes. I should post that over there.

[@FlatEarthTradingSociety]

This is great! Added to our list of methods. Thanks

[@paulbucklebuckle4921]

Every one knows the earth is a triangle.

[@FlatEarthTradingSociety]

Haha. A flat triangle?

[@Nasdaqslaktarn]

i feel like a pussy when i bail on a trade,