0:14 to keep in mind fa in forex uh yeah not
0:17 a lot you wouldn't look at it daily but
0:19 there are certain circumstances where
0:23 you have to keep in mind of everything
0:27 that's generally always the case in
0:29 traditional markets you know stocks
0:34 forex future but I would say like eight
0:36 out of ten the set up is already there
0:40 in terms of ta yeah FA all it does is
0:43 ignite the move you know accelerate the
0:47 move or you know slow down the move the
0:49 set up is already done is what I would
0:52 say right but there are certain
0:55 circumstances where it could be a really
0:57 bad news
0:59 it was looking bullish it was really bad
1:02 news and then it just dies and then a
1:04 really good example if you guys remember
1:14 is VA right Boeing Boeing right if you
1:16 guys remember this thing right it was
1:19 really looking really good right and
1:23 then what did it do it is died but did
1:27 it die at a random spot no it died it
1:30 dumped to a box and then we pumped and
1:33 then rejected then a continuation down
1:35 alright now we hold your support right
1:46 anticipate levels and but there are
1:56 certain are the good set well well if
1:59 you if you hate waiting okay I'm I'm the
2:02 same as well I am quite impatient when
2:06 it comes to other stuff in life but when
2:08 it comes to trading I am I just don't
2:12 care I mean I've been waiting for this
2:17 long since I don't know yeah
2:22 do I care does this I mean could it
2:27 never go to 10,000 ever again unlikely
2:31 highly unlikely but it could but I'm
2:33 still gonna wait for it the same reason
2:35 I waited if you guys remember there was
2:38 a coffee tea box same reason I waited
2:40 for a profit target here as well from my
2:45 lungs could you could we have never gone
2:48 to this level ever again when we were
2:53 here somewhere go sue quitter but I'm
2:55 still wait I still waited for it and got
3:00 it the same principle of course I will
3:02 do shorter timeframe trades you know
3:05 scalps or whatever right but my longer
3:10 plan isn't change I wait for a level and
3:13 I wait for that look simple if it gets
3:14 there I get my fell if it doesn't get
3:19 there I'll look for other setups but
3:21 I'll still wait for these levels to be hit
3:27 you know these levels to be hit etc etc
3:33 right so it's about patience when it
3:36 comes to general trading I mean you can
3:38 trade the smaller time frame you can
3:42 trade the 3-minute right I trade the
3:44 three-minute all the time you can make a
3:45 lot of money you've trading in three
3:49 minutes all right but it gets boring
3:53 really quickly it's either you would
3:54 make a lot of money because if you know
3:56 what you're doing you can make a lot of
3:58 money if you don't know what you're
3:59 doing you're probably gonna get stopped
4:04 up all the time and it's not gonna be
4:09 interesting right after you traded over
4:12 the last two hours a three-minute
4:15 candles 3 minute chart last two hours is
4:17 scalping and trading and scalping and
4:20 trading it's a little bit boring not
4:23 gonna lie it is profitable but it gets a
4:27 little bit repetitive and boring then
4:29 what do you do you go ok that's it I'm
4:32 done for the day I've realized what the
4:34 reports I need to do for the day I'll
4:37 still hold on to my long term positions
4:42 but in terms of my daily profits that I
4:45 need to make I am done sometimes you do
4:48 have to restrict yourself like that
4:50 you know I mean everyone has greed I
4:51 have greed
4:54 everyone wants to make as much money as
5:01 possible but the probability is probably
5:05 gonna lose money that make money is
5:09 remember 90% of traders are losers so
5:11 probability will tell you that you're
5:12 probably going to lose money than make
5:15 money so you don't want to apply it
5:16 against those odds
5:21 why well what do they call it something
5:23 fate why something fate what do you what
5:27 do what is the same why fight fate now
5:34 what is something what is it what do
5:36 they call it I forgot the word with
5:39 the color why fight fate no it's not
5:40 fight fate it's something
5:43 why go against fate Oh something like
5:45 that right the solute garlic I forgot
5:51 the word so it's the same thing how many
5:53 trays with you taking those two or three
5:58 hours why fight trying why fight fate or
6:01 whatever you call it yeah in two three
6:03 hours it depends on setup if it's really
6:05 volatile you might you might be do you
6:08 might be doing like five ten traits
6:12 right but if it's not if it's really
6:14 sideways and you're probably doing
6:16 couple one or two maybe so you're
6:19 completely dependent you don't you don't
6:22 force yourself to a trade even on the
6:23 three minutes
6:25 you don't force it you still look for
6:28 proper spots and it's not like you can
6:31 FOMO in and force the trade and you go
6:33 oh my god I just want this thing to die
6:36 I'm gonna you know sell it and make the
6:40 market move my direction you can do that
6:46 if you can move the market but I learnt
6:52 a long time ago that I did not have the
6:54 capacity to move markets
6:57 right right now I do in crypto anyway
7:01 right but what I didn't people always
7:06 think that the markets gonna go my way
7:08 should never think that way you should
7:11 always think I can't move the market so
7:14 what what do I need to do I need your
7:17 wrists or limit my wrists please
7:24 remember my trades have nothing that's
7:26 gonna impact the market the markets
7:31 gonna do what its gonna do most people
7:34 think they can move market that's where
7:36 they get it wrong they start chasing
7:40 prices they believe that their trade has
7:45 an impact to move markets no it doesn't
7:49 he'll no market will do what its gonna
7:53 do and it always has should remove that
7:58 bias from yourself okay most people
8:00 weren't would go I don't have that bias
8:03 what you do because that's a human
8:05 sentiment people do people want to be
8:08 right that's a human thing it's nothing
8:10 to do with trading it's a human thing
8:26 that's why you know like I've been
8:28 saying for the last you know a year and
8:31 a half what do I say I don't care if I'm
8:33 wrong I just don't want to lose money
8:36 right so I don't actually care if I'm
8:37 right or wrong
8:40 generally I tend to be right because
8:45 whatever right but I don't really care
8:49 because first of all I would have hedge
8:52 against it so I would go what if I'm wrong
8:53 wrong
8:55 I would always trade that way what if
8:58 I'm wrong if I'm wrong would I lose a
9:01 lot of money and if I would lose a lot
9:06 of money why am I doing this if I'm
9:09 wrong I'm only gonna lose 0.5% okay if
9:14 I'm wrong I'm going to lose 10% Oh what
9:16 if I'm wrong and how do I hedge against that
9:42 it's a human thing guys there's nothing
9:43 to do with trading it's a human thing
9:47 people will want to that's what you're
9:52 taught from a young age right and wrong
9:55 you cannot get rid of those
9:58 we've only been started trading for you
10:00 know most people here only for a couple
10:03 of years but you've lived your life for
10:04 the last wet over many years
10:08 you cannot overwrite what you learn for
10:11 the last twenty thirty years in the net
10:16 it's not a thing [Music]
10:17 [Music]
10:19 you've learnt your whole life about
10:22 right and wrong and it's more good to be
10:26 right than to be wrong you cannot
10:29 override that that impulse that
10:32 mentality the next day it's not a thing
10:33 it's not possible
10:36 even if someone tells you it's possible
10:40 it's done that's the fact you're all
10:43 humans we're not robots
10:46 you cannot just turn the switch off
10:51 right you can numb it down as low as
10:54 possible but that takes practice that
11:04 takes years I mean you guys know
11:08 yourselves better than you know me so be
11:10 truthful to yourself do you do this if
11:12 you do how can you change it how can you
11:15 improve it how can you shift your bias
11:19 how can you get rid of it right think of
11:31 so that's a so when it comes community
11:33 trading one of the worst thing about
11:36 worse things about community trading is
11:42 that is the is the idea of being right
11:47 my chart is right my TA is correct yours
11:52 isn't I want to be right that's the
11:53 worst things that the worst thing about
11:56 community trading visit because it
11:58 creates that mentality so it's not all
12:04 good right it's not all good courses no
12:09 because you you want to be right course
12:12 you do cuz that's what you learn now you
12:15 do exams you from school you know you
12:19 learnt your whole life that it is right
12:20 and it's wrong
12:22 there is answer is correct and those
12:34 okay so don't worry about those things
12:36 most the most hardest thing in trading
12:41 is controlling your emotions if you can
12:48 control your emote and understand simple
12:51 risk tolerance full-stop
13:03 you don't even need to understand TA you
13:04 don't need to understand here at all you
13:07 just need to understand the simple T a
13:10 simple ta you can understand you can get
13:12 a grasp off in a couple this is support
13:16 resistance you can get a grasp of
13:17 support and resistance in a couple of
13:28 as remember human beings your brain is
13:32 very capable of understanding patterns
13:35 it's very good understanding patterns
13:40 and trends so your brain is already good
13:42 at looking at the only thing it's not
13:51 good at is your bias if you have a bias
13:55 the pattern doesn't present itself as a
13:59 pattern it presents itself as whatever
14:04 your biases so if your brain is already
14:09 capable of doing T a quite proficiently
14:15 well what is restrict emotion bias so if
14:19 you can remove that and just that you
14:23 are going to be default trait good at
14:27 training I hope that makes sense guys
14:31 and this is basic stuff I'm talking
14:52 can you record this this little talk the
14:54 last 10 minutes spider cause I think
14:56 this is gonna be really helpful to a lot
14:59 of new people is the most hardest thing
15:04 in for new people is just understanding
15:07 bite and figuring out that they do have
15:12 bias right most people think they don't
15:15 but they do that's where they get it
15:19 wrong if you go into a trade
15:22 understanding you have a bias you should
15:25 always go ok what if I'm wrong and
15:27 that's when a hedging comes into play
15:32 you should never be in a trade and go I
15:36 am 100% correct only dumb people do that
15:42 you should have a trust in you they
15:46 shouldn't never fully trust your TA his
15:55 but you should always let's go what if I
16:02 um and hedge against it if you don't
16:06 probably gonna get rekt I hope
16:08 everything I've just talked about in the
16:12 last 15 minute most of you people would
16:13 be like Skinner what the hell you
16:15 talking about
16:18 but that's only because you haven't been
16:22 trading for long that's what you think
16:30 trust me that these things will come up
16:35 it always does if some of you might have
16:39 already happened some of you might not
16:48 because it's a human condition chat it's
