My failing is staying on trading after hitting my target for the day, whereas I should take the win and pack up for the day. I usually lose money at that point and go on losing.
This is one of your best videos Mark in my opinion. Because THIS is the turning point to being consistently profitable. Otherwise, you’re just in that cycle of good gains, massive draw downs.
This has happened to me a number of times. Especially when that lapse happens at the open and I have the entire trading day to throw my money away. Thankfully, I'm learning to walk away.
There is a lot of bad content out there telling people what they want to hear and not what they need to hear. There are so many other channels telling people to follow their strategy or putting out a list of empty phrases. You are never oversimplifying trading like that. I've been watching you channel for years, on and off, and I rarely comment. But I have to say that you are capturing the psychology of trading in such a good way. You are the real deal!
I became reckless and broke all rules today...traded outside my set hours...random traded..didn't take a break after a good win hence gave it all back n more. Recklessness in trading is so dangerous
I had an epiphany 3 days ago. As a swing trader on the NYSE, I noticed with the last bunch of losing trades, 2 or 3 weeks after I got out with a loss, they pushed up and hit my target. Frustrating, what I learned is Ive been trying to micro manage swing trades, treating them like day trades, one red candle would send me into panic mode. So I stepped back, looked at the big picture, instead of trying to catch an exact turning point just wait till it gets in the area then get in. Of course I had to expand my risk tolerance but now I can look at the chart action then walk away for a few hours rather than watch every 1 minute candle and drive myself insane. Day traders ask me “How can you hold overnight? You’re crazy” Its all perception. For the majority of times, when the market is down it’s going to go back up, and when its up it’s going to go back down. The only thing that can affect that cycle (and there are many lately) is major world events, ie; interest rates, inflation, looming war. We can’t control those events. But even with those variables, unless there’s an epic crash, the cycle will prevail. In my opinion the only way to deal with it is to have a cast iron tolerance and a bottle of pepto bismal. The only reason I stay away from day trading is my account isn’t big enough to justify the risk, at the moment. “A trader has got to know their limitations” I look at it this way, even if war breaks out in the ukraine and a million people are killed eventually the DOW is going to crack 50,000, it may be 10 years or so from here but there’s to many growing technologies and medical breakthroughs on the horizon. If neither one of those happens then we’re done as a society and all of this is for nothing anyway. Great video. 👍 (Plaese don’t read anything into the color of the thumbs up 🙄)
It feels so good to hear someone talk about this, I honestly started thinking maybe something is wrong with my brain for doing each of these things that you described and that maybe trading is not for me. Having a successful trader describe this is really reassuring that it can be dealt with.
As a new Forex trader (almost 2 years now)… been there, done that! But, I was able to put “most” of my emotions aside, at some point, and trade what the candles were telling me instead of calling the shot because my gut feeling was telling me to do so. Thanks to you! Your content is always relevant and eye opener. At first, I was following a bunch of different traders on RUclips but bow, I narrowed it dow to 3 and you are one of them! Keep up the good work! From a Canadian trader.
Thanks for the videos Mark! Long time subscriber, first time commenter. I am taking this weekend to reset. I’ve been in a rut and compounding losses for the last month or two. Stuck in the mindset of “needing to make my losses back” which seems to be hurting my trading so much. I need to get back to making the hard decision of stopping and having the discipline you talk about. Going to move back to the micro futures, single contract and focus on the trades and technique instead of profits. And decrease my max loss for the day and practice actually stopping when I hit it.
👉 Trade with our Sponsor Broker: Trade Nation www.financial-spread-betting.com/ccount/click.php?id=95 👉 We are seeking more contributors who can produce great video educational content about trading for our channel. If you think you have what it takes please get in touch by sending a message to traderATfinancial-spread-betting.com (remove the AT and substitute by @). 👉 It seems a lot of our viewers are non-subscribers. Make sure to subscribe to our youtube channel as we upload regular videos! If you hit the “Bell” icon (🔔) you will receive a notification on youtube every time that we upload a video on our channel. Bell icon hitters are super fans of our channel 🥰
I recognise my trigger is when I get stopped out, I tend to enter another trade within 1 min, and that trades tends to be a bad setup and the downward spiral happens.
Hey Mark ,How are you doing? Everything you said is all so true and I believe each and every trade goes thru this... While watching this video I could actually see a flash back of my initial trading days struggle , however things are much sorted now and thanks to you and all other you tubers have learnt a lot from you all... 💓 From India 👍
This is right on. I see this all the time. It's like a casino. When things go well it goes well but when you lose unexpected money then your brain wants that money back. You go heavier or all in. My favorite quote is "You always have a plan until you get punched in the face" Mike Tyson. Going in the stock market is like a boxing match. Thanks for your videos. You talk truth to investors/gamblers. It's stuff we need to hear. Everyone else only speaks lies. You speak the truth.
The hardest part of trading is controlling my emotions during or taking emotions out of trading. My problem is traders feel they always have to make a trade when a trade isn't there. Forcing a trade. If I start making mistakes I'll tell myself "I'm going to stop trading for a month and calm down" The next day goes by and I feel like I have to get back in the market. Thank you so much for making this video.
I truly believe there’s a thin line between trading and gambling I’ve been caught so many times when something doesn’t go my way or get over excited that my common sense goes out the window and these videos have helped me a lot and granted it must be nice to make thousands of dollars a day but being humble keeps me in check
Absolutely right. I screwed up a long, looking at the risk reward I knew why, but what did I do, held on hoping the long would work out and ride out the cycle, I should have got out as lost double, like they say, have no patience with losing trades GET OUT!! It will NOT work out.
Damn this was seriously powerful extremely relatable. My max daily loss is -$50 on a day sometimes I find myself hitting the limit but I’m always trying to get it all back, continue to trade. But your so right if really does eat at your soul as a trader go constantly break the rule. Everyday I remind myself if you hit the shutdown just take cut the loss minimize the damage we are in a recession so losing money by throwing it all away is going to be a lot harder to recover. This discipline is seriously key and for me it is a everyday battle to maintain. But I know this is what I must do.
Sometimes stopping for the day, after experiencing a major trigger, feels like trying to stop a freight train. Remember that if you do, you're Superman. 💪
At an intermediate point in my trading career this is probably the most beneficial message I’ve heard in the last 6months. Psychology and discipline are, no doubt, the most important factors to keep in check in my trading at this point (& I’m sure they will remain most important for the rest of my trading career) Thank you so very much for your wisdom my friend! Your course has helped me tremendously as well. Keep the great content coming
Feels bad that what I’m feeling is so common. I feel like I have been doing this from the beginning. Need to be able to stop. I had a good day but then messed it up.
My failure is I often get a one big winner early in the day from a quality setup, then I feel cocky and take a bunch of shit trades and by the end of the day i'm break-even or down slightly.
Thank You, Thank You so much for your advice . Human behavior is such a hard thing to correct, after 4 years of forex trading I still find myself doing that exact mistake thinking that I can get away with it. Market always gets the last laugh. 😒
Thank you so much for this video - I now believe in the trading gods as I needed to hear this message, I was on full tilt yesterday and almost got REKT. Trading is both simple and the most difficult job in the world.
I test almost every day some new ideas, so... every day another mistake. But i learn some signs for intraday use. But one have to get a broader view of the medium trend or pattern. Then another problem is what strategy to apply.... But blindly apply a strategy what ever pattern you are inside, is .... not elegant.
It somehow feels like the top jss over and now is onto the second high point. If u don't sell now . It is going to topple down to the bottom. And when it got back up would be at least two years later to go bavk to the original price and yes it may be another powerful leg up. But who knows
I put in a hard max daily loss with my broker, so I literally can’t open another trade once I hit it. I recommend it, even make it rather tight. Make it your challenge to just not get locked out and let the good days run as much as possible…worst case you just lose money slowly 🤣🍺🌮
Very nice video. Hey Mark if you could please help me with this, I usually feel pressure after a profitable streak of trading sessions. what to do? I will appreciate some suggestion. Thanks.
Try to take a break and cool down! Here's one video which should be helpful: ruclips.net/video/1WQnCvelfbo/видео.html Also, check some of the material here: ruclips.net/user/ukspreadbettingsearch?query=avoid%20giving%20gains%20back
Stick to the plan and make the plan stick...never dv8 from your plan. If you find you do then either you need more discipline and figure out why you are
The wisdom you share is unmatched. Cant praise you enough.
Trading is about getting to know oneself..
My failing is staying on trading after hitting my target for the day, whereas I should take the win and pack up for the day.
I usually lose money at that point and go on losing.
This is one of your best videos Mark in my opinion. Because THIS is the turning point to being consistently profitable. Otherwise, you’re just in that cycle of good gains, massive draw downs.
This has happened to me a number of times. Especially when that lapse happens at the open and I have the entire trading day to throw my money away. Thankfully, I'm learning to walk away.
There is a lot of bad content out there telling people what they want to hear and not what they need to hear. There are so many other channels telling people to follow their strategy or putting out a list of empty phrases.
You are never oversimplifying trading like that. I've been watching you channel for years, on and off, and I rarely comment. But I have to say that you are capturing the psychology of trading in such a good way.
You are the real deal!
I became reckless and broke all rules today...traded outside my set hours...random traded..didn't take a break after a good win hence gave it all back n more. Recklessness in trading is so dangerous
I had an epiphany 3 days ago. As a swing trader on the NYSE, I noticed with the last bunch of losing trades, 2 or 3 weeks after I got out with a loss, they pushed up and hit my target. Frustrating, what I learned is Ive been trying to micro manage swing trades, treating them like day trades, one red candle would send me into panic mode. So I stepped back, looked at the big picture, instead of trying to catch an exact turning point just wait till it gets in the area then get in. Of course I had to expand my risk tolerance but now I can look at the chart action then walk away for a few hours rather than watch every 1 minute candle and drive myself insane.
Day traders ask me
“How can you hold overnight? You’re crazy”
Its all perception. For the majority of times, when the market is down it’s going to go back up, and when its up it’s going to go back down.
The only thing that can affect that cycle (and there are many lately) is major world events, ie; interest rates, inflation, looming war. We can’t control those events. But even with those variables, unless there’s an epic crash, the cycle will prevail. In my opinion the only way to deal with it is to have a cast iron tolerance and a bottle of pepto bismal.
The only reason I stay away from day trading is my account isn’t big enough to justify the risk, at the moment.
“A trader has got to know their limitations”
I look at it this way, even if war breaks out in the ukraine and a million people are killed eventually the DOW is going to crack 50,000, it may be 10 years or so from here but there’s to many growing technologies and medical breakthroughs on the horizon. If neither one of those happens then we’re done as a society and all of this is for nothing anyway.
Great video. 👍
(Plaese don’t read anything into the color of the thumbs up 🙄)
I’ve realised the most valuable RUclips traders don’t get enough publicity. Keep it up 👍
It feels so good to hear someone talk about this, I honestly started thinking maybe something is wrong with my brain for doing each of these things that you described and that maybe trading is not for me. Having a successful trader describe this is really reassuring that it can be dealt with.
As a new Forex trader (almost 2 years now)… been there, done that! But, I was able to put “most” of my emotions aside, at some point, and trade what the candles were telling me instead of calling the shot because my gut feeling was telling me to do so.
Thanks to you! Your content is always relevant and eye opener. At first, I was following a bunch of different traders on RUclips but bow, I narrowed it dow to 3 and you are one of them!
Keep up the good work!
From a Canadian trader.
One of the best channels here on RUclips
Thanks for the videos Mark! Long time subscriber, first time commenter. I am taking this weekend to reset. I’ve been in a rut and compounding losses for the last month or two. Stuck in the mindset of “needing to make my losses back” which seems to be hurting my trading so much. I need to get back to making the hard decision of stopping and having the discipline you talk about. Going to move back to the micro futures, single contract and focus on the trades and technique instead of profits. And decrease my max loss for the day and practice actually stopping when I hit it.
👉 Trade with our Sponsor Broker: Trade Nation www.financial-spread-betting.com/ccount/click.php?id=95
👉 We are seeking more contributors who can produce great video educational content about trading for our channel. If you think you have what it takes please get in touch by sending a message to traderATfinancial-spread-betting.com (remove the AT and substitute by @).
👉 It seems a lot of our viewers are non-subscribers. Make sure to subscribe to our youtube channel as we upload regular videos! If you hit the “Bell” icon (🔔) you will receive a notification on youtube every time that we upload a video on our channel. Bell icon hitters are super fans of our channel 🥰
I recognise my trigger is when I get stopped out, I tend to enter another trade within 1 min, and that trades tends to be a bad setup and the downward spiral happens.
Can so associate so much with this. I just feel like throwing everything away after breaking a rule. Oh god. Thanks for the video Mark.
Hey Mark ,How are you doing? Everything you said is all so true and I believe each and every trade goes thru this... While watching this video I could actually see a flash back of my initial trading days struggle , however things are much sorted now and thanks to you and all other you tubers have learnt a lot from you all... 💓 From India 👍
This is right on. I see this all the time. It's like a casino. When things go well it goes well but when you lose unexpected money then your brain wants that money back. You go heavier or all in. My favorite quote is "You always have a plan until you get punched in the face" Mike Tyson. Going in the stock market is like a boxing match. Thanks for your videos. You talk truth to investors/gamblers. It's stuff we need to hear. Everyone else only speaks lies. You speak the truth.
The hardest part of trading is controlling my emotions during or taking emotions out of trading. My problem is traders feel they always have to make a trade when a trade isn't there. Forcing a trade. If I start making mistakes I'll tell myself "I'm going to stop trading for a month and calm down" The next day goes by and I feel like I have to get back in the market. Thank you so much for making this video.
I truly believe there’s a thin line between trading and gambling I’ve been caught so many times when something doesn’t go my way or get over excited that my common sense goes out the window and these videos have helped me a lot and granted it must be nice to make thousands of dollars a day but being humble keeps me in check
Absolutely right. I screwed up a long, looking at the risk reward I knew why, but what did I do, held on hoping the long would work out and ride out the cycle, I should have got out as lost double, like they say, have no patience with losing trades GET OUT!! It will NOT work out.
This channel is becoming more and more valuable as you get further and further on the trading journey. Thank you for all the valuable information.
Totally correct, recently experienced it!
Damn this was seriously powerful extremely relatable. My max daily loss is -$50 on a day sometimes I find myself hitting the limit but I’m always trying to get it all back, continue to trade. But your so right if really does eat at your soul as a trader go constantly break the rule. Everyday I remind myself if you hit the shutdown just take cut the loss minimize the damage we are in a recession so losing money by throwing it all away is going to be a lot harder to recover. This discipline is seriously key and for me it is a everyday battle to maintain. But I know this is what I must do.
Sometimes stopping for the day, after experiencing a major trigger, feels like trying to stop a freight train. Remember that if you do, you're Superman. 💪
At an intermediate point in my trading career this is probably the most beneficial message I’ve heard in the last 6months. Psychology and discipline are, no doubt, the most important factors to keep in check in my trading at this point (& I’m sure they will remain most important for the rest of my trading career) Thank you so very much for your wisdom my friend! Your course has helped me tremendously as well. Keep the great content coming
You Sir, are in a class of your own..appreciate you 🙌
been there. Its been part of the learning I have had to deal with. Learn from mistakes, if you can't don't trade.
Feels bad that what I’m feeling is so common. I feel like I have been doing this from the beginning. Need to be able to stop. I had a good day but then messed it up.
One of the most positively charged videos, thank you so much, saving this to my playlist!
Tilted again today. Watching this video to get back to my senses. Thank you as always.
Best psychological video to the point. Mark, have you ever thought being an actor? 97% of trading is pure psychology.!!!
I needed to hear this today! Thank you for sharing.
Thanks mark your insightful information is unmatchable....keep sharing ....
Thinks for the knowledge you’re shearing to help us
Truely exceptional video. Thanks Mark
one of your best
My failure is I often get a one big winner early in the day from a quality setup, then I feel cocky and take a bunch of shit trades and by the end of the day i'm break-even or down slightly.
I needed this. Thank you
By far the best trading tutor out there. Thank you so much, wish I could buy you a pint
I went a month without a losing day then took a nice hit Friday. Kinda sad about it but I'm over it now. Ready for the new week. ES for the win!
Thanks alot this happen a few minutes ago to me I was frustrated I just left the market
Thank you for this. I had a bad week last week in the markets. This is one of best videos I've watched. You have a new subsciber. Thank you once again
Thank you for this, you ability to identify and express what is happening internally is incredible.
Great video, thanks
Best trading mentor on youtube! Thanks for great advice and insights.
Again a great point by Mark. Exactly what happens to every trader but no trainer talk about these points. You are osom. Thank you Mark 👍
Thanks again...so much. Been a viewer for yeara now.
Great mentor, thank you.
Thank you kindly ✍️
Were you looking over my shoulder yesterday- this is uncanny timing!
awesome topic to be honest
stay in the game!
Epic video!
wow. great insight.
Well said
Thank You, Thank You so much for your advice . Human behavior is such a hard thing to correct, after 4 years of forex trading I still find myself doing that exact mistake thinking that I can get away with it. Market always gets the last laugh. 😒
Thanks Mark
Thanks boss!
Thank you so much for this video - I now believe in the trading gods as I needed to hear this message, I was on full tilt yesterday and almost got REKT. Trading is both simple and the most difficult job in the world.
That one mistake will be the end of me
It happend to me my wallet reached 0$ because im an idiot i threw everything i know about trading and started to buy and sell blindly
I test almost every day some new ideas, so... every day another mistake. But i learn some signs for intraday use. But one have to get a broader view of the medium trend or pattern. Then another problem is what strategy to apply.... But blindly apply a strategy what ever pattern you are inside, is .... not elegant.
It somehow feels like the top jss over and now is onto the second high point. If u don't sell now . It is going to topple down to the bottom. And when it got back up would be at least two years later to go bavk to the original price and yes it may be another powerful leg up. But who knows
Thank you
Amen to this
the best channel
Fantastic
I put in a hard max daily loss with my broker, so I literally can’t open another trade once I hit it. I recommend it, even make it rather tight. Make it your challenge to just not get locked out and let the good days run as much as possible…worst case you just lose money slowly 🤣🍺🌮
Nr1 thanks for sharing
so? what is the solution?
Phenomenal
I call it the death spiral smh
Very nice video. Hey Mark if you could please help me with this, I usually feel pressure after a profitable streak of trading sessions. what to do? I will appreciate some suggestion. Thanks.
Try to take a break and cool down! Here's one video which should be helpful: ruclips.net/video/1WQnCvelfbo/видео.html Also, check some of the material here: ruclips.net/user/ukspreadbettingsearch?query=avoid%20giving%20gains%20back
I've done that many times in the last 2 years and lost £250 000. Mark please help me to turn around.
I am still not able make money after demo account
Stick to the plan and make the plan stick...never dv8 from your plan.
If you find you do then either you need more discipline and figure out why you are
💙🙏
FIVE STARS
Ah damn, you should have made this video earlier 🤦♀️