0:03 you're listening to the number-one spot
0:07 fruit markets and trading market traders
0:17 I'm well I'm gonna do what I'm gonna do
0:18 I'm thinking of I was thinking about
0:20 doing this before because there isn't a
0:22 little clip about that the idea of
0:25 motions of training and there is
0:28 literally just five steps to it so what
0:29 I'm gonna do is I'm just going to
0:32 quickly summarize it for you guys who
0:34 were watching we're listening to that
0:37 one-hour video recording and whatever
0:38 you want to call it so I'm gonna quickly
0:40 summarize everything we're going to talk
0:42 about and what I saw what I thought and
0:44 there are some things that I incorrect
0:46 where I perceived to be incorrect in
0:48 that void as well which I don't
0:50 necessarily believe in and I'll go
0:51 through the explanations regarding that
0:53 as well because well I have the time
0:55 list I'm gonna do a quick little
0:57 15-minute thing where we go through the
1:00 emotions of it because we have dabbled
1:02 on each and every single one of them
1:04 before on the stream but we have not
1:08 done is cognitively put it all together
1:10 so there is a clip or some sort of a
1:13 fifteen minute thing listening into the
1:17 emotions of trading right and the ideas
1:19 and the principles toward it so there's
1:22 there's five things that you need to
1:25 understand now this is this is towards
1:29 the idea of trading as itself this is
1:31 towards at the mentality of trading this
1:35 is towards the mentality of consistency
1:37 of trading not necessarily trading per
1:40 se but consistency because what you
1:42 people lack most of you guys here is you
1:45 lack the consistency you will make money
1:48 one day and you lose it all that you
1:50 make money in one week and in the next
1:53 week you you pretty much broken even
1:54 because you've lost it all right you
1:57 lack that consistency mechanism and
1:59 that's what that those are the things
2:00 these are the things you need to look at
2:03 for that so first and foremost is the
2:06 idea of confidence in trading now
2:08 confidence comes from either of two
2:13 things one is an understanding of what's
2:15 happening in the markets it's actually
2:17 learning what's happening in the markets
2:19 keeping your ear to the ground listening
2:20 to what's happening
2:23 removing your bias towards what
2:27 the saying and understanding things very
2:30 logically that will give you the
2:34 confidence to enter trades even if you
2:36 think that you're gonna lose out on it
2:39 now confidence is a big thing and it's
2:42 one of the main things that I see my
2:45 keys lacking right now in towards the
2:47 stream accounts because what's have been
2:50 happening is this is not I'm not in a
2:51 bashing you or anything like that this
2:53 is a learning environment so what's
2:55 happening is what's been happening if
2:58 you is you know they've been losing
3:00 trades we've been you know all that
3:01 right so what's been happening is that
3:04 the lack of the confidence is dwell down
3:08 a little bit in terms of trading and the
3:11 use of trades right is just taking the
3:13 trade right don't thinking about not
3:15 thinking about taking the trade not
3:17 expecting to take the trade taking the
3:21 trade itself now that is a confidence
3:24 thing that people would lack because of
3:27 two different things one they've been
3:30 wrong consistently so they lack the
3:32 confidence to take that trade because
3:37 they might be wrong again now to go to
3:42 get rid of this a basic basic system is
3:47 required the idea of mitigating risk now
3:49 if you don't have the confidence to take
3:52 the trade what you can do is
3:56 hypothetically let's say you take you
3:58 you took you got an example of 1% loss
4:01 generally in your trades now what you
4:03 can do is if you're lacking that
4:05 confidence this is not for this is for
4:06 everyone by the way and everyone who
4:10 listens to this clip later on if you're
4:13 lacking that confidence to trade divide
4:17 your risk make multiple trade with lower
4:22 risk take 10 trades with 0.1% risk
4:25 rather than one trade with 1% risk are
4:26 you with me
4:28 because that what that will do is that
4:31 will build up your confidence in your
4:33 trading scenarios whatever scenario
4:35 you're trading with and Mike and
4:37 everyone else has a trading scenario
4:39 mike has a training scenario where he
4:41 only buys below view up at certain
4:44 ranges and he sells above view up at
4:47 certain ranges right now so that's an
4:48 example of Mike I mean it's an
4:51 oversimplification but yeah it's there
4:53 now you guys have a different scenario
4:56 as well now if you have that scenario
5:00 all you require is the push to take that
5:02 trade so the first and foremost thing
5:05 you need and most people lack in trading
5:08 is the confidence of trading now this
5:11 could be for new people or for old
5:12 people who've been training for years
5:15 and years because people will have ups
5:19 and people will have downs right so when
5:22 you have the down movement you still
5:25 have to take the trades to go back up
5:28 again now until you initialize until you
5:31 understand that you are in a slump
5:34 you have to realize you've done
5:36 something wrong or you have to realize
5:40 that you are not doing something after
5:43 you have realized that that is the first
5:46 process to go back to get back on the
5:47 horse again
5:52 now secondly with that confidence
5:55 example you can tell yourself okay this
5:56 is not for me and you can leave it that
5:59 is up to you but the fact of the matter
6:01 is if you are consistently profitable
6:05 before it does mean the only thing that
6:07 you lack right now is confidence in your
6:10 trading mechanism whatever that trading
6:13 mechanism may be whatever system do you
6:16 use okay that's to do with confidence
6:18 now secondly is discipline now
6:20 discipline comes into play when you are
6:23 initializing trades when you are
6:26 understanding what to do with trades and
6:29 what to
6:33 do it after you've taken trades okay
6:35 there's this multiple segment so initial
6:37 before you even take a trade you have to
6:39 be disciplined when you're in a trade
6:41 you have to be disciplined and after
6:43 you've already taken a trade you has to
6:46 be disciplined now so let's start from
6:48 the beginning before you even enter a
6:50 trade there has to be discipline in your
6:52 trade now what that means is
6:55 understanding where price must go to and
7:00 mustn't go to within your system now if
7:01 you have some sort of a system do you
7:03 have some sort of an invalidation or
7:06 where your stop-loss is now where your
7:09 stop losses depends on your invalidation
7:13 of your system now again this comes into
7:17 the idea of risk risk mitigation and
7:21 discipline come hand in hand when you
7:24 before you even initialize a trade so
7:26 you take you understand what your risk
7:29 is you have the discipline to contain
7:33 that to hold on to that and don't go oh
7:37 close out that those trades cuz you know
7:38 we had a similar situation couple days
7:41 ago when people were asking me to close
7:43 or remove the trades that was on the
7:47 stream all right we got partial fill and
7:53 I diffused to do that why because it was
7:56 a system based trade and I'm not gonna -
7:59 I'm not gonna remove it just because you
8:02 feel ill or you have an emotional feel
8:04 to that trade because that is not
8:12 you leave it if you get stopped out you
8:14 get stopped out now that is before you
8:16 enter a trade now when you are in a
8:19 trade a disciplines comes into play when
8:22 you are realizing profits and managing
8:25 your trade now where do you realize
8:27 profits on longs is at resistance at
8:31 resistance levels correct now when you
8:33 are putting those profit targets you put
8:36 in profit targets and you have some sort
8:38 of a system to mitigate that you make
8:42 money on that trade whether it be are
8:44 we hit second profit target I'm gonna
8:46 move my stop loss to entry or I'm gonna
8:49 move my stop loss to below my first
8:49 profit target
8:52 remember profit targets are resistance
8:55 levels so if something goes above
8:57 resistance levels what happens it
8:59 becomes support
9:02 so after you've initialized two profit
9:04 targets you can move your stop-loss
9:09 below your first profit target and that
9:12 must be automatic you must not ii think
9:14 this this must be systematic and
9:17 automatic and that is the discipline you
9:20 will require the hardest thing in taking
9:23 one-minute trades the trays i've sure
9:25 i've done and shown live on the stream
9:27 the hardest thing in those is not to get
9:30 entries but to achieve exits those are
9:33 the hardest things because you have to
9:36 make a decision and go this is where i'm
9:39 going to exit and you have to remove the
9:42 idea in your head saying to you what if
9:44 we go higher what if i can make more
9:46 money you have to remove that completely
9:48 and go this is what I'm gonna do I'm
9:51 comfortable 40 points I'm comfortable
9:54 with 2% I'm comfortable with 4% and I'm
9:57 out that is the discipline that you must
10:01 have remove everything else make it
10:04 automated systematic remove everything
10:06 else and if you do not have that
10:08 discipline this is what's going to
10:10 happen to you you're going to initiate a
10:13 trade and you're not going to move the
10:16 stop-loss the way you should because
10:17 you've been greedy and the market
10:21 reverses on you and you lost money maybe
10:25 or maybe just broken even or since that
10:27 has happened you have now got an
10:29 emotional tick on your brain that tells
10:32 you I didn't remove I didn't move it
10:34 quick enough before so what I'm gonna do
10:37 this time I'm gonna move it early so
10:39 what are we gonna do now is after you
10:40 hear your first profit target or
10:42 whatever you move the stop-loss to
10:47 profit and then you get stopped out now
10:49 you don't want both of those things to
10:52 happen so you what you want to do is
10:54 sometimes or most the times or all the time
10:55 time
10:57 have some sort of a system that you're
11:01 going to adhere to right for yourself
11:04 because until you have that there is no
11:06 discipline within the mitigation of your
11:08 traits within the continuation of your
11:12 profits now discipline the third the
11:13 part of the discipline is after you've
11:15 taken the trade now after you've taken
11:17 the trade it could either be one of two things
11:18 things
11:21 profitable or a losing trade D either
11:23 you lost money on that trade or you made
11:26 money on that trade and both are still
11:28 dangerous in terms of emotions if you
11:31 lost if you made money on that trade now
11:34 you are going telling yourself oh my god
11:37 I made so much money on that trade what
11:40 I'm gonna do now is over think over
11:43 leverage over position myself why
11:45 because I have money to burn that is
11:49 also wrong because you will be wrong
11:52 because that is an emotional status that
11:55 is an emotional hit user Scott from
11:57 making money you just got an emotional
12:00 hit that you makes you think you are the
12:08 people this point remind every people
12:11 how many trades on average he gets a
12:13 good percentage you get stopped on every
12:14 day just just from your perspective
12:17 remind the viewership that how many are
12:19 losing trades that you go through every
12:21 day correct
12:23 so don't want jobs figure you
12:24 specifically we talk about percentage
12:27 right yeah say if I have a 72 percent
12:29 hit rate or remind people that means
12:33 that I'm losing how many percent a day
12:36 correct I think this is really important
12:38 if you have a 70 percent hit rate it
12:40 means 30 percent of the time you're
12:43 wrong so you got you got to think about
12:46 that too right do you get where I'm
12:52 coming from this um so I don't think
12:54 about those things because what will
12:56 come into play if I start thinking about
12:58 the percentage of hit in basis to what
13:02 I'm thinking I'm gonna lose is idea of
13:05 acceptance is not gonna play right I am
13:08 fully accepting if I lose
13:11 I am fully accepting if I win there is
13:14 no but if what scenario for me
13:17 personally because I am completely happy
13:20 with getting stopped out or whatever and
13:25 anything else to me is is gonna be
13:26 another thing to think about when you're
13:28 initiating your trade and when you're
13:30 initiating your trade you don't want ten
13:33 different things to think about I wasn't
13:35 talking about adding to the stress right
13:37 I was talking we're talking about
13:40 talking about reality right right you're
13:42 gonna be taking trades you know
13:44 everybody is going to be taking trades
13:49 and it's not just about those those
13:50 winning trades it's all about the
13:53 process and maybe I maybe I didn't
13:55 formulate it or verbalize it the proper
13:57 way but I think you get what I'm saying
13:59 yeah no no so if you have some sort of
14:01 process behind your trading system and
14:05 you are fully accepting that it could go
14:07 wrong because the likelihood of it going
14:10 wrong might be lower than like the very
14:12 working out and if you have a correct
14:14 system that is consistence that is going
14:16 to be your case right if you have a hit
14:19 rate of 70 to 30 70 in terms of winning
14:21 30 in terms of losing then there has to
14:24 be a there has to be times where you
14:29 will be losing now or there are
14:32 circumstances where you are 70% losing a
14:35 30% winning as well that could be the
14:38 case as well and these 70% winners 30%
14:40 losers 40% winners 60 plus all that
14:43 stuff is not the same it is it
14:48 fluctuates it fluctuates with market
14:52 segments behavior thought process what's
14:54 happening in the world it always will
14:58 fluctuate because you can remember you
15:01 are trying to trade like a robot but you
15:07 alright you just try to copy some
15:10 segments of it you just try to copy some
15:12 things up you will still trade like a
15:15 human because you are a human so there
15:18 are things that will fluctuate because
15:21 you are not a robot so what is very
15:22 important to keep in
15:24 mind is the acceptance of that
15:27 fluctuation is to is the acceptance of
15:31 okay I make money I have made this much
15:36 money today 1% 2% 3% 10% 20% whatever
15:37 money you made today it is the
15:41 acceptance of okay I am happy I am done
15:45 do not go into the idea of oh my god I'm
15:48 in a role I'm gonna do I'm gonna keep
15:51 going because that can turn around
15:56 really quickly alright now this is the
15:58 the other side of the coin is when
16:01 you're losing money consistently right
16:03 you're losing money consistently what
16:05 you have to understand is the discipline
16:11 is understanding what went wrong okay
16:13 you're gonna keep getting if you are
16:17 taking a trade based on removing your
16:20 discipline in your method and putting in
16:22 trades emotionally because someone told
16:25 you to or you perceive an emotional
16:28 response in the markets and you've taken
16:30 that trade you have removed discipline
16:34 from your trading and that is a no-no so
16:36 you've lost money and you want to make
16:38 that money back so what you're doing is
16:40 you're following someone else to make
16:43 that money back because you perceive
16:46 that someone else is better than you
16:50 that is not a discipline trade that is
16:53 an emotional response trade because you
16:54 want to make that money back that you've
17:00 lost now there's a lot of people in chat
17:01 who are like that and I'm telling you
17:04 right now that is a wrong mentality to
17:08 have because it removes the discipline
17:10 in your method in your mechanism of
17:13 trade and if you have no method in your
17:17 trading you are not trading you are gambling
17:25 now thirdly is consistency so
17:28 consistency in your trading now cursor
17:30 consistence is important in terms of
17:33 winning trades as well as potentially
17:36 losing trades so you want to be
17:37 consistent some sales coming through in
17:40 Bitcoin you want to be consistent in
17:43 your making of money overall net
17:46 everyone wants that so what you want to
17:48 do is consistently have the discipline
17:53 and the confidence to ignite trades
17:56 within yours within what you have in
17:59 terms your trading scenario if you're
18:00 looking at a four-hour level a weekly
18:03 level a daily level monthly level
18:05 clothes buying below view up selling
18:08 above view up using point of controlled
18:10 you're using an indicator of some kind I
18:12 don't know I don't know what it is
18:14 but you have to have the consistency to
18:18 follow through and you also have to have
18:24 the discipline to follow through so guys
18:26 that is consistence the idea of
18:28 consistent this is going to be
18:30 throughout everything this way
18:33 consistency in confidence of your trades
18:35 consistency in discipline so you'll be
18:37 consistently disciplined in your trade
18:41 and there's also the consistency towards
18:44 having the patience for it which is the
18:46 third which is the fourth one now having
18:49 the patience is the fourth one patience
18:52 is very important in trading now there's
18:57 two types patience in looking at your
19:00 trade system and patience is waiting for
19:02 it to get hit and there is the patience
19:05 in waiting for your profit targets to be
19:09 here not removing your plan not not
19:13 shifting the blame to something else and
19:17 going oh I'm going to close it now there
19:18 are times like that what that is
19:22 required but in a general sense in a
19:25 general sense you want to wait for your
19:27 entries to get here and you wait for
19:29 your exits to her get hit so patience is
19:32 really important now this is this isn't
19:34 is this is in trading but there's also patient
19:35 patient
19:39 in learning how to trade you are not
19:42 gonna be able to trade as soon as you
19:44 learn how to trade you're not going to
19:46 be profitable to trade as soon as you
19:48 learn how to trade that's not how it
19:50 works there is no cheat code behind
19:54 trading the cheat codes behind trading
19:59 is actually trading improvements
20:02 discipline consistency confidence in
20:03 your entries confidence in to exit
20:06 waiting for things to happen letting it
20:11 play out etc etc etc and the most
20:13 important thing out of all those all
20:16 those four out of five is the actual
20:18 passion to trade now what I mean by
20:22 passion to trade means passion to trade
20:25 after you know how to trade because if
20:27 you have passion to trade before you
20:29 even know how to trade you do not have
20:32 passion to trade you have passion to
20:35 gamble because remember you do not know
20:39 how to trade okay
20:42 passion comes after you have the
20:44 realization you have the methods you
20:47 have the consistency you have the system
20:49 behind yourself then when the passion
20:52 will come then you start going sitting
20:55 behind a computer and taking trades but
20:58 until you know those things until you
21:02 have achieved those things you are not
21:04 trading with passion you're trading with
21:06 emotion and you are gambling in the markets
21:11 because that's not what passion is
21:16 passion to trade comes afterwards now
21:18 these are the things that are more
21:21 important than understanding of levels
21:26 zone or whatever because you are not a
21:30 robot but you must behave in trade very
21:34 less emotional maybe not like a robot
21:38 where you trade very systematically and
21:43 emotionless and because of those reasons
21:45 because of those reasons most people
21:47 will lose money and because of those
21:49 reasons most people actually make money
21:52 those people who have learned and have
21:54 the confidence and the discipline and
21:57 the consistency and the patience and of
22:00 course last and not least the passion to
22:03 ignite trades hold on to their trades
22:07 until their system pans out or remove
22:10 those trades after their system has
22:12 panned out exit your trades don't be too
22:14 greedy don't be all that stuff right
22:16 these are the most important things in
22:20 trading because it goes down it deeps
22:23 dive into your emotional triggers
22:25 because that's the hardest thing to in
22:27 trading because most of you guys here
22:30 have lost money in the markets because
22:33 most of you guys here who came here to
22:36 quote-unquote trade because you were
22:38 going through the bull market and you're
22:40 all making money and then what happened
22:41 everything started crashing down and
22:44 then you decided and you told yourself
22:47 okay I want to know how not to lose
22:49 money in this market and that's why you
22:52 came here to this chat to other groups
22:54 to other YouTube channels that was the
22:57 reason for it you lost money that's the
22:59 only reason you would come to place like
23:02 this because you wouldn't come here if
23:03 you made money if you've been
23:07 consistently making money you wouldn't
23:09 do that you would you would come here
23:12 because you want to either have an idea
23:14 of how to make more money or
23:16 consistently more money or you lost
23:19 money so you already have something in
23:21 your back of your head telling you
23:24 to do things emotionally sorry to do
23:26 things emotionally and not to do
23:28 something that might be logic based
23:30 because you are emotional about it
23:33 because you lost money before etc etc
23:37 etc so you already wet you already in a
23:40 losing position let's be real you are
23:43 already in a losing position whether you
23:44 know it or not
23:45 is up it's not them it's not the
23:47 question I know it because I can see
23:51 everyday on the chat whether you know it
23:54 or you realize it or not that's up to
23:58 you right because most people don't
24:00 realize this until someone says it and
24:04 then it hits them because they don't see
24:08 it themselves because they're blind so
24:11 the most important things more than
24:13 anyone else for you guys in the chat
24:16 here who we're losing traders before and
24:19 did lose money in the markets with is
24:22 more than anything else it is to follow
24:25 these principles of emotionless bias
24:30 less trading mechanistic trading systems
24:32 that is fully functional and based on
24:39 logic maths and systems anything else
24:42 you throw it out of the window because
24:45 there is you do not have time nor do you
24:48 have the patience to use other things
24:51 that are a little bit emotionally based
24:54 than the rigid system that you've got
24:58 you're trying to acquire here and what
25:00 you're trying to acquire here is rigid
25:03 mindset and the last and most important
25:06 thing you will not and will never be
25:09 able to trade like me you will not and
25:11 never be able to trade like Mike you
25:13 will not and never be able to trade like
25:17 tempos that is not going to happen that
25:22 is not how it works you will however be
25:25 able to get and grasp small things from
25:27 the way i trade thrown away my trades
25:30 from the way tempo strides and grab it
25:31 and put it into your own trading mechanism
25:33 mechanism
25:37 and hybridize it create your own system
25:39 something I've been saying from day one
25:41 create your own system
25:43 don't steal systems from other people
25:46 because you don't know the big picture
25:54 you just saw all you see is the tip of
25:56 the iceberg you don't know what's behind
26:00 them since you don't know the foundation
26:02 of that mechanism you cannot implement
26:06 it the only way you could is using small
26:08 things from that mechanism and putting
26:12 it into your own system and this is what
26:17 people have to realize all right people
26:19 have to realize that like really realize
26:22 that don't just nod and go okay I agree
26:24 actually realize that because that's the
26:26 hardness that that's the that's the
26:32 worst thing in trading is you trying to
26:34 trade like someone else and you keep
26:36 consistent losing money and what you
26:40 have done is you you completely
26:43 disregard what that someone has has said
26:46 right what that someone else has has
26:48 said and you're saying to yourself okay
26:51 this guy's obviously wrong as I've been
26:52 following his trades for so long and
27:00 he'd been consistently wrong right he's
27:02 it's not that it's not that's not the
27:04 way that's not the case that's not the
27:06 system because you don't know his or her
27:08 system you don't know what he or he/she
27:11 is saying or what he see he or she is
27:13 seeing you don't know his bigger picture
27:14 you don't know he had his hedges you
27:17 don't know his portfolio you don't know
27:22 a lot of other things practice makes perfect
27:23 perfect
27:26 it is very simple answer but is the
27:26 right answer
27:30 you have to grasp the idea of
27:33 transitioning from a losing trader to a
27:38 winning trader and most of you guys out
27:46 you have to rent you have to transition
27:52 you have to transition first until that
27:55 happens until you have that transition
27:57 between losers and winners and
28:02 consistency you will not be making money
28:04 you'll be making money for a couple of
28:15 until you have the understanding all right
28:16 right
28:21 so I hope everyone understood or at
28:24 least vaguely understood what I've gone
28:27 through there because these things are
28:55 that's it that's enough I mean most of
28:57 these things and most of the stuff we I
28:59 just talked about and summarized we've
29:01 been through this multiple multiple
29:03 times before probably this is my 20th or
29:08 30th time I've talked about this but
29:10 these are the things you need to put
29:13 keep in mind in your head right because
29:16 everyone can see levels everyone can see
29:19 zones and levels if you've been charting
29:21 for a couple of months you'll be able to
29:22 look at levels because there's this in
29:26 the charts there in your face
29:31 all right but even after you see levels
29:33 even if you after you understand that
29:36 the basics of what's happening you're
29:38 still not making money because of these
29:41 reasons because you do not have the
29:46 other stuff the more important stuff
29:49 because levels zones all that Shay is
29:51 just in front of you you just need to
29:54 open a chart and it's just there it's
29:57 not hard to see those if you've been
29:58 chatting for a couple of months you will
30:02 be able to see it what is hard is the
30:05 habits exactly the idea the mentality of
30:08 trade you have to remove that you have
30:10 to transition from that to a winning
30:13 trader the winning trader mentality
30:16 removing the bias removing the emotions
30:20 and transitioning until you do that
30:22 notice I will change your personality
30:25 you cannot change your personality
30:28 change the way you ignition Ischia
30:32 traits chain the way change the way you
30:35 get out of trades change the way you
30:47 so there's confidence discipline
30:51 consistency patience and passion so
30:53 confidence and patience passion you
30:56 discipline you miss you know consistency
31:00 yeah you miss inconsistency okay so
31:01 those are the things you would require
31:07 to be a consistent trader okay that's
31:14 what is required you're listening to the
31:16 number one spot food markets and trading
