0:00 yo what's good guys welcome to boot camp
0:03 day I think 11.
0:06 um
0:06 let's get started okay today's another
0:08 discipline video and since we're slowly
0:11 starting to merge into like how to take
0:13 trades I figured we teach the most
0:16 important lesson
0:19 also I'm sorry like if my voice is like
0:22 very messed up right now I know
0:25 um I got a super sore throat
0:28 um so yeah gotta lube it up with this
0:31 water during this video anyways
0:34 um yeah so what was I saying yeah this
0:36 is going to be the most important video
0:38 and it's understanding how to take a
0:40 loss Okay so
0:42 once again per usual on these on these
0:45 discipline videos we don't do anything
0:46 on charts we I'm just talking face to
0:48 face and my face cam came but it doesn't
0:51 work for my computer it will work for my
0:54 PC so I'm sorry we will when it gets to
0:57 the discipline videos it will eventually
0:59 be just a full screen in my face but
1:01 right now
1:02 if I make it full screen it's terrible
1:04 quality so
1:07 um yeah today is going to be on how to
1:08 take a loss this is very very important
1:10 um it teaches you a bunch of things
1:11 teaches you literally discipline you
1:13 have to be very disciplined in order to
1:15 just like dude I took a loss today I
1:18 lost nine thousand dollars today trading
1:21 gu
1:21 took this trade [ __ ] lost it
1:24 um
1:25 so right and did I Revenge trade did I
1:29 try and trade again did I over leverage
1:31 no I I stuck to my rules I stuck to how
1:34 much I wanted to risk and then you know
1:37 rest from there nice and easy right so
1:41 um
1:43 with that being said
1:45 let's get right into it jits okay so
1:50 what is the most important thing to
1:53 understand about taking a loss
1:55 if you can realize that when you lose
1:59 that is a part of the game that you are
2:03 going to lose that you should encourage
2:06 it because it literally you know means
2:09 you're [ __ ] human
2:11 if you can have that mindset if you can
2:14 be be almost happy when you see a loss
2:18 because you know you're going to learn
2:19 something from it
2:21 if you can do that
2:22 dude it will change the game for you
2:25 I'll buy a million okay
2:28 um so
2:30 understand that dude this game is all up
2:34 percentages you're not going to be 100
2:36 from the field you're not
2:39 it's impossible no profitable Trader
2:42 ever has a 100 win rate that trades
2:45 consistently no
2:47 none of them do they always lose at
2:50 least once okay it's just part of the
2:52 game the market is built to beat you and
2:54 the sooner you understand that the
2:56 easier it will be for you to grow
2:58 because when you start taking losses and
3:01 you get upset about it and you throw a
3:04 fit that's literally the opposite of
3:06 what you should be doing that's letting
3:08 your emotions take over that's showing
3:10 that you're you know emotionally
3:11 unstable about the money that's in your
3:13 trading account that probably means that
3:14 you shouldn't be trading in the first
3:16 place that probably means you over
3:17 risked that probably means it was one of
3:20 your like your fifth trade that day
3:22 right come on guys let's be level-headed
3:25 okay level headed in these markets so
3:27 the first thing you need to understand
3:31 after this boot camp once you learn how
3:33 to execute once you learn how to take a
3:34 trade
3:36 if you lose your first trade be happy
3:39 okay the the person that fails a hundred
3:42 times will have way more knowledge and
3:45 way more skill than the person who never
3:47 fails so that makes sense you learn from
3:49 failing you learn from your mistakes
3:51 so encourage it you're in your learning
3:54 phase you're going to be trading on demo
3:55 anyways you're not even going to be
3:57 trading with real money encourage losing
4:01 obviously when you get to the point
4:03 where you're trading with lots of money
4:05 yeah you probably wouldn't want to lose
4:07 you probably wouldn't encourage it but
4:10 but at this level right here for me it's
4:14 like
4:15 hold up okay come here for me
4:19 right now for me like I love when I take
4:23 a loss because I can learn from it I get
4:25 to study the market after my loss say
4:27 okay well why did it move the way that
4:29 it moved okay why did it why did it go
4:31 against me and right I'm not I'm not
4:34 going to look back and think why did I
4:36 take this trade I want to understand why
4:39 didn't it go in my direction
4:42 okay it's not oh I shouldn't have taken
4:44 it for this this or this right because
4:46 it's all probability who knows I could
4:49 take the same exact setup tomorrow
4:52 on a very similar pair some like all the
4:54 same confluences and still win that's
4:57 the crazy part about this stuff guys it
4:59 this Market is so hard to master
5:03 because it's it's got like mixed
5:06 personalities one day you can you know
5:08 like no setup
5:11 no setup is going oh every setup is like
5:13 one of one right different marking
5:16 conditions every single day different
5:17 prices different things that it's going
5:19 to react off of
5:21 constantly constantly learning
5:23 constantly reacting right it's an
5:25 algorithm okay
5:27 so with that knowledge right you should
5:31 encourage a loss learn from it okay and
5:34 understand that you will you will never
5:36 be a hundred percent from the field in
5:38 this
5:39 right and you miss 100 of the shots you
5:43 don't take but also don't [ __ ] take
5:46 too many shots right don't take too many
5:48 trades okay but you get what I'm saying
5:52 right you
5:53 you're going to win some and you're
5:55 going to lose some and at the beginning
5:56 you're going to lose a lot but that's
5:57 what teaches you that that's what helps
5:59 you helps you learn the only way that I
6:02 was able to learn risk management was
6:04 when I flipped 10K into 112k and then
6:07 lost it all the next day that was the
6:09 Catalyst to cause me to learn risk
6:10 management because I lost so much money
6:12 in one day
6:14 okay
6:16 encourage losing failure makes you grow
6:19 makes you better okay and and if you
6:22 have learned anything from this whole
6:24 boot camp that's all we're trying to do
6:26 we're trying to make you better people
6:27 too okay this isn't just about trading
6:30 all right this is literally to like
6:33 [ __ ] pull yourself up by the boots
6:36 bro like come on let's be respectable
6:39 young men
6:40 all right yes that I like I can you know
6:43 mess around mess around every now and
6:45 then I can have my fun
6:47 but let's come on let's focus up all
6:51 right guys we're trying to improve and
6:52 like even in life bro like if you guys
6:55 can understand how to take a loss bro
6:58 like okay we're we're in Puerto Rico my
7:01 friends were my friends were here this
7:03 past week
7:04 I was out you know having a good time in
7:07 downtown okay I attempted to talk to
7:11 like 30 different girls probably right
7:13 talking to every single one right off if
7:16 and if I lost
7:18 it's like perfect on to the next and I
7:20 was like who cares
7:22 right she's gonna forget who I am she
7:24 won't remember me because she said no
7:26 right she said no so she's not gonna
7:29 remember me but the girls that say yes
7:30 they remember me it's a win-win
7:33 she says no perfect you were gonna waste
7:34 your time trying to get her anyways so
7:36 she just did she just helped you out
7:39 understand that losing
7:42 can benefit you in so many ways bro
7:46 sorry boogies
7:48 bugging out so now let's get into just
7:50 how to take a loss so now that you have
7:52 that mindset should be pretty [ __ ]
7:55 easy to take the loss right
7:57 I mean there's not much you got to do
7:59 after that if you can encourage and
8:01 accept a loss and you can say damn
8:02 that's damn it kind of sucks that I lost
8:05 money but hey what can I learn from this
8:07 how can I how can I you know make this
8:09 an actual learning opportunity for me
8:11 you know
8:13 how can I use this to my advantage
8:15 encourage it it's going to help you
8:17 learn
8:18 okay so what what do we do after that
8:20 when we take a loss and we say okay good
8:24 how can I learn from this perfect right
8:26 learn from it okay figure out what you
8:29 did wrong okay I don't but do not
8:33 get upset about it the minute you start
8:35 getting upset the minute you start
8:36 getting frustrated about losing means
8:38 you are doing something wrong you have
8:40 to tell yourself in that moment I am
8:42 doing something wrong
8:44 you literally are you're doing something
8:46 wrong right there
8:48 by by literally
8:51 by by throwing a fit by throwing a
8:53 temper tantrum you are doing something
8:55 wrong back when I used to do the live
8:57 trading videos you'd see me say stopped
9:00 out sometimes I'll you know throw a
9:02 [ __ ] party for when take profits get
9:04 hit but like that's just like that's
9:05 like I'm just putting on a show for the
9:07 YouTube video but
9:09 um I mean like now when I'm trading with
9:10 the Discord we had to take profit and
9:12 I'm like cool tp1 hit
9:15 on to the next you know like it's it's
9:17 emotionless in this and the second you
9:20 start oh my God what the [ __ ] bro cause
9:22 I've been there I was a rage monster at
9:24 this sorry
9:25 um anyways I was a rage monster at this
9:28 [ __ ] like I would lose and I would get
9:30 so mad I would literally scream into a
9:33 pillow because I was so upset because I
9:35 wanted to learn this so bad but I was
9:37 doing it the wrong way I was doing it by
9:40 trying to get rich quick
9:42 okay and the sooner you understand that
9:44 these early phases you're going to lose
9:46 money and you can spend time losing
9:48 money on demo and you don't need to Jump
9:49 Right In you don't need to get rich
9:50 quick because
9:53 because that [ __ ] will come in due time
9:57 that [ __ ] will come in due time okay
10:00 okay so all that [ __ ] will happen all
10:02 that [ __ ] will come in due time okay it
10:04 just takes time all right you gotta you
10:06 gotta understand okay why wouldn't I
10:08 want to lose money on a demo paper
10:10 trading account
10:12 and then
10:13 once you learn the skill right it's like
10:17 who like if you can trade profitably on
10:19 demo there's yes it's a step up with
10:22 Live account with a live account because
10:24 then you start thinking about the money
10:26 that's when it's like dude when you lose
10:27 you're actually losing money but if you
10:29 can go from being profitable on demo
10:32 it'll be like a one month turnaround
10:35 literally just understand the skill I
10:38 encourage you guys to be on demo
10:40 practicing okay taking losses
10:43 encouraging them figuring out how you
10:45 can do better why you lost and it's not
10:48 oh why can't I do this
10:50 it's how can I learn from this not why
10:53 can't I
10:54 by saying can't can't is should not be
10:56 in in your vocabulary bro it should not
11:00 okay
11:02 it's only I will I am okay
11:06 it's not I can't
11:07 I will learn this okay understand that
11:12 by trading on demo and losing on there
11:15 instead of losing your own money you
11:16 will save yourself a lot of money and
11:18 save yourself a lot of just emotional
11:21 trauma that these markets cause some
11:23 people and myself included
11:25 okay
11:26 and from there once you understand the
11:28 skill and you understand what you're
11:29 supposed to do
11:31 boom now you can go on to a live account
11:33 you'll probably lose for like a week or
11:35 so because you're feeling emotional but
11:37 you're gonna slap yourself in the face
11:39 and you're just say okay I actually know
11:41 what the [ __ ] I'm doing let me just go
11:42 look back at that demo account right I'm
11:44 profitable I know what I'm doing I'm
11:46 [ __ ] profitable so
11:48 now let me trade with my Live account I
11:51 know what I'm doing and I'm not going to
11:52 do anything different right follow that
11:53 trading plan we'll talk about how to
11:55 build a trading plan in this vid in this
11:57 boot camp
11:58 okay
11:59 it's literally step by step by step be
12:01 robotic with this [ __ ]
12:03 okay you are the algo
12:06 you're the EA you're the trading bot
12:09 treat yourself like that
12:11 okay
12:12 so
12:14 right there's there's really not much
12:16 else for you to do like understanding
12:18 how to take a loss
12:21 I don't know like that's that's pretty
12:23 much it you just literally have to
12:25 understand okay I can learn from this
12:28 good let's encourage it okay when I do
12:31 when I do lose I'm willing to learn
12:34 okay and when I lose I don't Revenge
12:38 trade I don't over trade I don't react
12:41 when I lose I don't react there should
12:44 be no reaction besides happiness there
12:47 should only be a positive reaction from
12:49 from losing right how do you think if if
12:52 anybody else
12:54 lost
12:56 like who else lost
13:00 10K who else is able to lose 10K and
13:03 still be smiling talking about how how
13:05 how they had a good day last night in
13:08 this whole week right most people would
13:10 be sick most people would be sick I lost
13:12 that [ __ ] this morning I lost this [ __ ]
13:14 like literally an hour ago bro
13:18 and
13:19 I'm still living my best life and I'm
13:22 having a great time
13:23 because I know hey this money's going to
13:26 come right back I know I have the skill
13:28 to make all that money back and I know I
13:31 can trade tomorrow right there's always
13:33 another day there's always another setup
13:35 these markets aren't going underwear
13:36 anywhere underwear wow
13:40 um these markets aren't going anywhere
13:43 okay and when you and when you learn
13:45 that the markets aren't going anywhere
13:46 and there's going to be another trade
13:48 tomorrow you start to realize why you
13:51 want to take days off for news
13:54 and that's a whole other thing that
13:55 we'll get into right you'll start to
13:57 understand why you're going to want to
14:00 take days off if you've been up late
14:02 you're going to start to understand why
14:04 you would rather take days off when
14:07 you're least probable to actually win a
14:09 trade that day whether it's from news
14:11 whether it's from you breaking up with
14:13 your girlfriend and it's actually like
14:15 emotionally bad and if you lose that day
14:17 you'll probably like actually react to
14:19 it right it's understanding all those
14:21 things and that'll come in time and
14:24 you'll you know start to feel your feel
14:25 yourself out with that but you just have
14:28 to understand
14:29 be in that open mindset of like yes it
14:34 will happen
14:35 right
14:36 let me stop that
14:38 um yes that will happen to you okay you
14:42 will get upset okay without a doubt but
14:44 it's understanding and taking a step
14:47 back right when that moment happens and
14:49 think
14:50 okay should I be doing this that's the
14:52 hard part being able to be like okay
14:55 like okay this was me overreacting I'm
14:59 doing something that I shouldn't be
15:00 doing
15:01 okay
15:03 and then proceeding the correct way
15:05 right make that reaction very minimal
15:08 okay make that reaction not last very
15:10 long and be conscious of it
15:13 and he'll be well on your way with this
15:15 because if you can understand that if
15:17 you can understand how to take a loss
15:21 it's pretty damn easy from there it's
15:23 pretty [ __ ] easy from there you
15:25 really
15:26 at that point you really just gotta
15:29 learn your strategy and just you know
15:31 take time in the market and understand
15:33 how it moves because if you can nip if
15:35 you can nip that [ __ ] in the butt what's
15:38 holding what's holding you back from
15:39 winning literally infinite amounts of
15:41 money
15:44 if you know your strategy and you
15:46 understand how to take a loss
15:48 and you understand that this is all just
15:49 based off of probability
15:52 and and you're playing a percentage game
15:54 on the year term this is this is
15:57 literally just a percent gain
15:59 over a year bro stop thinking from the
16:02 day to day stop thinking from the week
16:04 to weeks stop thinking from the month to
16:05 month
16:06 what's coming home in the year
16:09 right and that's all that matters
16:11 right what are what am I bringing in
16:13 every single year
16:15 what percentage game gain am I getting
16:18 and if you can get that
16:20 then [ __ ]
16:23 you're doing real good in life because
16:25 at that point then you just have capital
16:28 that's the only issue you have left you
16:30 know how to trade the markets you're
16:32 unfazed
16:34 what's what's left to stop you from
16:35 making infinite amounts of money
16:38 the money that you have in your account
16:41 so that's when you've got to start
16:42 growing it and scaling it so with that
16:44 being said hopefully I just encourage
16:47 you guys
16:48 to be happy about losses
16:50 um hopefully this helps you guys switch
16:52 your mindset about them it's not
16:54 place blame it's not oh
16:58 you know like
16:59 the market it took me out it's no the
17:02 market was going to do what it wanted to
17:03 do that was where the market was going
17:05 to go it's not the Market's fault it's
17:06 your fault so once you understand that
17:08 it's your fault and you did something
17:10 wrong you have to learn from it how can
17:13 I get better it's not oh I got stopped
17:15 out because of news
17:17 it's not that
17:20 right it's not oh I got stopped out by
17:22 news it's oh
17:23 I [ __ ] I I took the wrong trade yes
17:27 news might have stopped you out but hey
17:29 Mark you moved and you got soft out
17:31 learned from it oh maybe I shouldn't
17:33 trade before news
17:36 learning opportunities guys okay so with
17:39 that being said I'll catch you guys
17:40 tomorrow where we will wrap up our
17:43 liquidity series all right peace
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