Trading Psychology Podcast Ep52: Where To Put Your Earnings

[@Replace.Garage.Door.Spring...]

Agree With Giving Away Money. Psychologically helps not worry about money. Even better is I try to give it completely anonymous with no trail to myself . Gives me great natural high.

[@jacobnotte3699]

I went over a step formula I made to counter the negative math you guys spoke about and I posted it in the discord like 3 years ago, but no one cared lol it literally turned losing strategies into winning ones and I run it in all my systems now... this one is important guys!!

[@Smoke-sc9hn]

Any way you could share that again? I’d be interested

[@mahdighorbani7447]

Could you please mention it here again

[@feistytom]

Great and insightful podcast. Could you do an episode of how one can manage their withdrawals and also payouts from prop firms? Been doing your podcast since Q2 last year, taking notes and learning slowly. They have been helpful alot

[@mikescarborough9196]

I would like to hear that one myself. On the one hand that money is compensation, on the other hand that money can be kept on deposit to increase your trading allocation.

[@danielciriello4261]

Another way to manage risk is calculate risk per trade % from your DD amount not from the balance, so if had 5% DD you could risk say 10% of that rather than the 1% balance, its always the same but just reduces the risk amount the more DD you dip into to, this way it keeps you in the game longer, alot longer in fact What do you guys think about this?, it just doesnt compound the balance but then you could always take out profits and do that elsewhere. Excellent episode love the giving some away, money always comes and goes it always will.

[@joebrennan7955]

great series guys!

[@auliazhraaa9]

in nfc is also always taught about the importance of trading psychology, anyway very helpful for beginner traders, thank you

[@scottbeck7227]

I like to use the scale out method to cover those loosing streaks. The scaled out wins cover the losses and the nice runs give me the profit I'm looking for in trading. I will only change the percentage once a month.

[@whydhycx]

Great podcast as always ❤ please i cant find eps 51

[@LSmithAfrica]

Wooooop Wooooop🎉🎉🎉🎉🎉

[@jacobnotte3699]

Thanks guys see you next week

[@mikescarborough9196]

So if Robb’s example of why you shouldn’t buy a $2000 stereo with trading capital isn’t a good enough example for you, imagine you’re somebody who took a Bitcoin out of your wallet to experience the novelty of buying a pizza with crypto from a restaurant owned by an early Bitcoin fan who accepted BTC as payment. How did that $60,000 pizza taste? It’s a taste you will never forget. Don’t do it.

[@NoNonsenseForex]

I've written a blog on that guy. I don't think it was his only 10k btc.

[@hlomulanindlovu4182]

Great episode. I am just wondering though, if the goal is being a professional trader in which u can trade for a living, is there a right way of taking out your money because u trade for a living or there's another way of looking at it?

[@NoNonsenseForex]

That's exactly what we've been covering these last two weeks.

[@johnl8902]

First vp

[@thylacine1004]

Gold should double every ten years...