ilmscore | This Video Will Fix Your Trading Mindset... (Guaranteed Trading Psychology Repair)

Predictions from this Video

Total: 13
Correct: 0
Incorrect: 0
Pending: 13
Unrated: 0
Prediction
Topic
Status
The speaker guarantees that four specific lessons will fix a trader's psychology, implying a significant improvement in trading performance.
"unless you fix it you will fail at trading but don't worry because in today's video I'm going to share with you four lessons that I can guarantee will fix your trading psychology"
Trading Psychology
Pending
Backtesting trading strategies is presented as a method to decrease uncertainty and increase confidence and belief in a specific strategy.
"start to back test my trading strategies so back testing is not sexy it's not something most people want to do but if you think about it it's something that can decrease uncertainty because you're seeing something work in the past through draw downs and it's something that can increase your confidence and increase your belief in a specific strategy"
Trading Strategy
Pending
Backtesting a trading strategy is likened to personal observation and is crucial for developing belief, similar to witnessing an event firsthand.
"you could trust that friend like crazy that told you he went horseback riding with Drake that's still a pretty steep ask for you to believe that he did it without having any proof without seeing it so what you need to do is go back test the trading strategy because that's similar to you seeing it happen yourself"
Trading Strategy
Pending
Reducing the percentage of account risked per trade (e.g., from 100% to 1%) is predicted to significantly decrease fear and consequently increase confidence and belief in one's trading plan.
"in order to raise confidence what if you were to lose less money on a trade you would definitely fear it less right if you're risking 100% of your account you're going to be in loads of fear but what if you're only risking 1% of your account now that fear is decreasing and as that fear decreases your confidence and your belief is going to naturally Rise Again"
Risk Management
Pending
Gaining experience through a small live or demo account, after backtesting and establishing risk management, is presented as a way to build belief and confidence while reducing fear and uncertainty.
"if you want to start a super time account and experience your full trading plan now this comes after creating a full trading plan you already have a trading plan you already have a strategy that you've back tested and seen that it's profitable and seen it go through draw downs and come out profitable on the other side you already have a risk management plan that you're sticking to Now is when you can start to have experience in order to increase belief and confidence and decrease that uncertainty and fear"
Trading Experience
Pending
Achieving profitability over 60-90 days in a small live or demo account is predicted to significantly boost confidence and belief while reducing fear and uncertainty.
"if you do this over the course of 60 to 90 days and you see that in that small account or in that demo account you come out profitable that is going to do a major amount to increase your confidence and belief and decrease uncertainty and fear"
Trading Experience
Pending
Successfully implementing the three previously mentioned strategies (backtesting, risk management, experience) is predicted to resolve issues like switching strategies and moving stops, effectively fixing 'mindset' problems.
"if we can do that then you will no longer have an issue switching strategies changing your risk management moving your stop-loss all the things that happen in the 6 Ines between your ears will be fixed if you can do those three things"
Trading Psychology
Pending
A lack of patience is identified as a mistake that will guarantee account blow-ups and lead traders to give up entirely.
"this mistake is very simple but is detrimental if you continue to make it throughout your trading career and will cause you to blow your entire account and eventually completely give up on trading what is this mistake it is a lack of patience PTI"
Trading Psychology
Pending
The speaker, with over a decade of trading experience and six years of teaching, has observed the severe negative impact of a lack of patience on traders' performance.
"if you are suffering from any of those then it's vital that you watch the rest of this video so here's how we fix that I've been trading for over a decade I've suffered with my own lack of patience throughout that time I've also been teaching Traders around the world for over six years so I've seen the detrimental effects of lack of patience can do to others as well"
Trading Psychology
Pending
Patience in trading is not something that can be taught by others; it stems from an individual's willingness to act according to what they know is correct and avoid incorrect actions.
"no one can teach you how to be patient patience comes down to your willingness to do what you know is right and to avoid doing what you know is wrong"
Trading Psychology
Pending
Persistently lacking patience in trading will inevitably lead to account depletion and abandonment of the trading career.
"if you continue to make it throughout your trading career and will cause you to blow your entire account and eventually completely give up on trading"
Trading Psychology
Pending
If a trader, after six months of conscious effort, still cannot adhere to a trading plan, control risk, or remain patient, they are likely addicted to gambling and will find success in financial markets extremely difficult.
"if you try to do that for six months after watching this video you try your best to be patient to not switch strategies to not risk too much each trade you try your best to stick to a trading plan and you just literally cannot do it something in you is forcing you to place trades outside of your your plan to risk more than you know you should because you want to get rich fast if that is the case then it's very likely that you are addicted to the rush of gambling and trading in financial markets is going to be very very tough for you"
Trading Psychology
Pending
Failure to address an addiction to the 'rush of gambling' will prevent a trader from becoming profitable and will likely result in account blow-ups or complete abandonment of trading after significant losses.
"if you don't fix that Rush that addiction to the rush of gambling you're never going to be a profitable Trader and I'm sorry to say you're going to end up blowing your account or completely giving up on trading allog together after a series of terrible losses"
Trading Psychology
Pending