The Secret Power Of Full Time Traders | Forex Trader Motivation


(soft music) – [Mike] After you’ve
gotten that foundation, you do wanna be exposed
to set ups that have edge. And you wanna start experimenting, but you wanna be developing. And during that process
you wanna figure out, hey, I think I’m this type of trader. I think I’m this type of product trader. I think I wanna trade futures. I think I wanna trade stocks. I think I wanna be a scalper. I think I wanna be a swing trader. I think I wanna be a technical trader. We wanna try all those
different types of trades and have a conclusion about
the type of trading you like, the type of trading that
meshes with your talent, and then you wanna go from there. And then, the next journey,
the next part of the process is you wanna be aligned
with a senior trader who’s way better than you, who trades like the way you wanna trade, and work with them on a daily basis. We call that team trading here. So at S&B we call it
… it’s a third part, it’s team trading. So you sit with a shark or swing or whoever the really good
traders are on your desk. (upbeat music) – [Etienne] I know people are
making excuses about debt. They wanna have accountability but they say they know no one that trades or know no one that can be accountable to. So what have you done to
be accountable to someone? ‘Cause I know people use, sometimes, their husband or their
wife to be accountable to. They give reports of
something about their trading. So how do you do it exactly? – [Raman] So, I have tried that, being accountable to my husband. It sucks. (laughs) – Okay.
– It just doesn’t work because he will ask me
and when things are not going so great I’ll be like,
“Oh, stop picking on me.” And he doesn’t wanna do it anymore because he says we’ll
just get into an argument. So that may or may not be the best place, depending on whether
your spouse or partner even understands trading
or is interested in that. One of the things that
I have done is I … First thing I did, I
started a Meetup group. So I was looking for
someone else to do this. I couldn’t find any so I thought, okay, let me go start a Meetup group. So I started gathering
people and doing that. Another thing that I have done is I have started posting my goals on my Facebook account, my Facebook page. I haven’t done it for this month, but every month I go in and
post my goals for the month on my Facebook page so everybody
who’s in my friend circle will see my goals and then that’s one type of accountability that I’ve created. And then I have also gone to my friends and I said to them, “These
are my goals for the month.” And these are my process goals as well, so they are things that I
like to do in the morning. For example, I like to do meditation and I tend to do walking
mediation or visualization. I have found it’s just a good way to get started in the morning. So I will write that. I will create a calendar. I have a little calendar in my office where I put a check once I have done that. So I will then share that
with a friend and say, “okay, this is what I want
to be held accountable for and this is what I’m gonna do.” So I find there are
different ways of doing that. I started doing my daily analysis calls a couple years ago … I
think it was two years ago. I just got a bunch of people together and say, “hey, let’s do
our analysis together.” And I was the one who
always did the analysis, just because people don’t wanna do it. So that way it just helped… Every step, you don’t
know how it’s gonna help, but I’ve found it’s been,
throughout the journey, it’s been very beneficial. – [Kunal] I had to go
out and actually meet … Over time, yes, I met people. I met my own mentor, Paul,
who taught me a lot of stuff, and that kind of took my
trading to the next level. And over time one of the
things I found was … Look, some people don’t
want a mentor, right? But you can get an
accountability partner, right? Have a friend that also trades. You can meet them on social
media, Facebook, wherever. It doesn’t matter,
there’s so many ways … Your blog, wherever. And share your trades. Share what happened at the end of the day. – [Interviewer] Yeah, good or bad. – [Kunal] Have that … Get on a Skype chat or Gmail
chat and talk to each other and share your trades. You can do something like that
and that could be helpful. – [Interviewer] So how did
you meet your mentor, exactly? – [Kunal] He actually was writing a blog, just like one of those Google blog spots. And he was just posting
charts all the time saying check out these charts. And I just kept leaving him comments like, “what about this? “What about this?” And he would reply back and over time, because I just kept
leaving those comments, I asked him, “will you teach me? “I’m missing a lot of stuff, obviously, “’cause I’m still not where I wanna be.” And so he was like, “no, no, no. “I don’t do any of that.” And I was like, “Well, I’ll pay you.” I’m like, “What do you want? “Either I’m gonna spend the next 10 years “trying to figure this out
or you’re gonna help me.” And he’s like, “okay, fine.” And so we had a handful
of one-on-one sessions and we kept in touch. And, you know, you don’t
need much sometimes. A lot of times what you
just need is somebody to kind of systematically
tell you where you’re missing. A lot of times traders, they
have a lot of knowledge, but it’s not filed in their
brain in a proper order. They just have a bunch
of random knowledge, but it doesn’t necessarily make any sense. And so where you need to go is, put it all together in a system. It’s like, how I look at a trade setup is almost like a recipe. You ever go inside a cookbook and, say you wanna bake a cake,
and you open the recipe inside the cookbook for baking a cake. It’s very specific, right? It’s step one, step two,
step three, step four, step five, down to the ice,
every single thing you do. Two pinches of this,
two tablespoons of this, one jar of this, this much sugar. Everything is listed in exact
order but also exact amounts. And if you can follow that
recipe, then guess what happens? At the end you have this nice cake. But what happens if you mess up one or two pieces of the recipe? – Yeah, you get a bad cake.
– Your cake tastes like tofu. (laughs) – Exactly.
– Yeah, you get a bad cake. – Yeah.
– And trading is the same way. A lot of times we’re on all these blogs and we’re reading these books. So we have all these ingredients in our head of different things. But we need somebody to come
in and help us organize it into a beautiful recipe so that
we can systematically do it. Because when you have a
recipe, what can you do? You can repeat it, right? You can repeat, repeat, repeat and now you could start
to build consistency. – [Kim] Where people fall down is holding onto their profits, keeping their heads screwed on straight when they take losses
or have a losing day. So it’s not some big secret. (laughs) – [Interviewer] Yeah. (chuckles) – [Kim] It’s not.
It’s like everything that you and I have been talking about. It’s in the public domain. But it does, it comes down
to respecting your process, following your plan and
just staying committed to that no matter what. Even if they sky is falling you just stick with your
plan no matter what. Not everyone is gonna be successful and there’s a lot of people out there that aren’t successful and they struggle. And I’ve had some people
just have to give up trading because they couldn’t get
their head on straight. So, unless you’re working
with a trading mentor who understands that a
belief in consistency as a trader is really
just a state of mind, and can help you
understand that, embody it, you’re gonna have little
chance of succeeding. You can’t just get it from a book and you have to be in the market to experience the
phycology, the break downs, the challenges that all of us face. And you have to have some
sort of support system. You need to be around other traders who are in the same kind of mindset too, you know, that can support you. – [Barry] Don’t fail and stop. It’s like in sports. I’m a huge football fan. And so in football, what
they do is they’ll … And most sports they do this,
they will tape everything. They’ll tape your practice,
they’ll tape the games. And then after the game, then they go back and they review the film
and they show the players, okay, here’s what we gotta do and change. They do it with golfing as well. They’ll video tape your golf swing and make adjustments, right? And then you can say, okay,
take those adjustments, go back to the field and
you try to do better. And then they tape that. Oh, gotta make a few more adjustments. These are called feedback loops. So you keep getting the feedback and then going back into the game. That’s what we do in
trading when I train people on the psychological aspects of trading, then that’s what we do,
we use feedback loops. We don’t just give people cutesy quotes and positive thinking and
all that kind of stuff. It’s like, no, trading is like a sport. It’s a performance based activity. So to change your performance, we have to analyze your performance and change your behavior. But you gotta see that
behavior from the outside. It’s so hard for us to see it. That’s why even professional
athletes have coaches because they need those outside eyes. And as traders we need
those outside eyes as well to give us that feedback. And then say, “Oh, okay,” go back in and make those constant corrections. – I want to thank you
so much for watching. I just want to plug something here. We have an awesome offer for the academy that’s available right now. It’s a limited time thing which is going to be only available until this Saturday, March 23rd. And you get a bunch of bonuses. You’re gonna be able to join yourself with the right people, get my help, get the help of all the
people in the academy as well that can coach you, answer your questions and push you to get better result. Check out link below, we’ll put it there and you can access this. If you see this video
after March 23rd, 2019 then it won’t be available, but reach out to us if you need any help. Here are a few comments of the past group. And you can catch any further comments, as always, down below
in the comment section. And I’ll catch you back
here, in Phuket, tomorrow. Choi. (upbeat music)

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