I have traded since 1999 and Tom is spot on here. One of the best, honest interviews on trading I have ever watched. He says its in the mind, yep. Trading is at least 90% psychological.
This was just awesome. I love how Tom here is razor sharp and to the point and that interviewer lady is respectful, pleasant and asks great questions. A joy to watch.
Forget the books and courses, understand this and you will have the license to print money. It took me 3 years and a lot of mental pain and financial loss. It would have been easier to give up, but the reward is true freedom. What would you give for that ?
@@annajones9701 “ Discipline equals freedom” Jocko Willink. I’m not a trading educator or mentor. The answers are in Toms videos watch them......if you don’t get it watch this video 100 times and you will be on the right path.
@@d2.024 Are you referring to the fact that trading is 90% psychological? I personally have a profitable methodology that I've back tested and demo traded with good results, however what's very difficult is the actual execution of that methodology in real time - the ups and downs - because of the completely random distribution of wins and losses
Very well put and very inspiring. I found your videos a few hours ago and have watched a few already. You don't waste words, the concepts are correct, and the graphs are clear. Perfect, friend. Thank you very much.
Wow. I cant believe this was from 12 years ago. All that he said about trading still applies today. If you want to succeed in trading, it will all start from you.
This video was made 10 years ago and day traders back then couldn't make money either. You would think that with all of the technology and teaching websites and videos the odds would have changed.
Who are they competing against? Other day traders with the same technology. Who else? Institutions and hedge funds with better technology, faster feeds and better algos. You don't seem to understand that trading is a zero sum game.
Actually the being tired of it drastically changed my approach. And also coming to realization that nothing works/nobody will tell me what and how to do it.
I think the highest winning system is just around 60%, not much different from coin toss. That's why risk management is the key, along with psychology.
the most honest seconds of Hougaard are in the end of this clip!... How about the laws in Belgium or France, would be a solution to end this game ones and for all? Or the the russian atomic bomb will ended anyways...?
This freakin dude is a monster! If you are a young trader and you haven't read his book, Best Loser Wins, you are doing yourself a grave disservice. I know shameless plug. Maybe Tom will give me a free lesson!😁
@@erickbaltazary2401 The study of probability would disagree. And if you're losing 99% of the time, then you're going to run out of resources to repeat with.
I don't know why you bother Tom, really I don't - because you have been at this for a very long time. I can tell you because I tried, in the days when I felt generous and patient but I was taught, because I was forced to learn, that the vast majority are unworthy. The vast majority, the 99%, cannot learn and refuse to be taught. It is about time that the penny dropped with you and you gave up and devoted your expertise to more worthwhile endeavours. By now you must know that traders are born, not made, so why persist ?
'I could play golf like Tiger Woods, the only thing that separates me from Tiger Woods is desire and repetition' LOOOOOL no. The ignorance and naivety of that statement is laughable 🤣🤣
@@Maestralius Agreed. not to mention golf being such a sily "sport" that it doesnt require any special inherent physical ability so its not like e.g. running where you simply are unlikely to beat Usain Bolt as a white person no matter the amount of training, but golf? sure , why not.
@@sannycpk3920 have you ever even tried playing golf. I used to say the same thing until I tried for myself, I sucked so much, that sport is hard as heck.
@@theyoungkulaks3381 ignorant and rude thing to say. nearly everything he provides is for free and he streams his live trades on which he is consistently profitable
+Mac Walen Well said. Unfortunately all those wannabe traders will keep falling for tricks of those snake oil salesmen until hole in their account becomes too big to ignore. None of those "trading mentors" can show independently verified track record (despite there is plenty of tools for that, e.g. myfxbook), they are just excellent sales people talking about psychology discipline, commitment etc. What people don't understand is that markets are very close to being 100% random and you can't beat randomness with any kind of psychology and discipline. They will fool themselves with hindsight bias until they learn it is just as random as casino.
