Trading Psychology Podcast Ep40: Trading Your Opinion

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Our own opinion about a particular currency or metal or crypto can easily get in the way of our trading, even though we almost never realize it. If you don't believe it, VP and Robb break down the ways it happens to us, and of course what can be done about it.
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The hosts of this podcast are not licensed financial advisors, and nothing heard on this podcast should be taken as financial advice. Do your own research and understand all financial decisions and the results therein are yours and yours alone. The host is not responsible for the actions of their sponsors and/or affiliates. Conversely, views expressed on this podcast are that of the host only and may not reflect the views of any companies mentioned. Trading anything involves risk. Losses can exceed deposits.

Опубликовано:

10 сен 2023

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Комментарии : 34

@jj-cee3500 9 месяцев назад

Thank you 4 these sessions. Great content

@paulbucklebuckle4921 9 месяцев назад

Thanks again gentlemen, great stuff .

@aipod86 9 месяцев назад

I can’t get over the fact that Rob sounds like Swaggersouls. Great episode guys!

@NoNonsenseForex 9 месяцев назад

I just looked him up, and I'm still laughing!

@danielciriello4261 9 месяцев назад

I've stopped myself looking at other timeframes now, if I see it moving the other way, I just tell myself it's making a wick. Another great talk from you both 👏🏼

@apriliarsvfour2029 9 месяцев назад

Thank YOU guys so much...this is the BEST Trading Psychology Podcast 👍👍

@evansngige3555 9 месяцев назад

Great episode as usual. thanks Robb and VP.

@KyleBaran90 9 месяцев назад

One thing I've been guilty of is not sticking to my given timeframes. For example, I'm bullish on many commodities and bought some etfs with a time horizon of 2-5 years. Great. But then after 6 months, I see deep red on the position and either cut losses or turn it into a short-term trade and start swinging it.

@archravenineteenseventeen 9 месяцев назад

Just use renko chart, set it to 50-100 blocks. You don't need to visit any time frames.

@philnewpower 9 месяцев назад

Thanks for this weeks episode guys!

@makotounagi434 9 месяцев назад

Nice episode ! Thank you VP and Rob

@mikescarborough9196 Месяц назад

When my technicals indicate a trade, it doesn’t represent an opinion. It’s more like a question. So when my system says go long AUDNZD, I ask the question: Is my system correct? If the market says yes, then I stay in the trade. If the market says no, I get out. Wash, rinse, repeat.

@charlesmaxwell455 9 месяцев назад

thanks

@VilkasDe 9 месяцев назад

I’m ESTJ so it really hits me hard with with contradictive opinions, but I agree with VP and we make things simple. K.I.S.S - Keep It Simple Stupid 😄

@ab_i1 9 месяцев назад

Usually i trade crypto my struggle is the opposite like having DOUBLE TRUTH ( lets say i am long on Daily tf after sideways i get another 1 hr signal that support my bias n end up increasing risk plus tighting stoploss and screwed the whole trade

@markkearins2229 9 месяцев назад

Rob, I have always wondered, People change, how often do you get your trader to redo the Personality test?

@FlatEarthTradingSociety 9 месяцев назад

Great Question. I don't think time is a great metric. We can all go very long times with no change to our biases and opinions only to have them all change suddenly. I think when you've tried and experienced new things is a good time to measure and see if you've changed. I also think people in the 20's and 30's could check every few years as there is just so much change going on in those years.

@yoppa5785 9 месяцев назад

First

@archravenineteenseventeen 9 месяцев назад

9:29 it doesnt affect me. I use renko chart for that

@khanyisadingiswayo1927 9 месяцев назад

Hey VP i just finished a year of forward testing i had a profitable year with the system the ROI was 127% win rate was 35% very different from the backtesting which was 80% i kept risk at 2% max with an average monthly drawdown of 4/5% I recently went on to try and get funded about 2 months later after forwarding testing and I'm currently in 1,9% drawdown any tips to get out of drawdown or after 3 years its still the 3 mantras - Trade my system - stay the fuck out of the way - repeat Or you got different advice ?!

@NoNonsenseForex 9 месяцев назад

No keep going. All I'll say is those results don't seem realistic, I would keep tracking for now and see how it evens out over time.

@khanyisadingiswayo1927 9 месяцев назад

@@NoNonsenseForex I know they're not I'm comfortable with a 20%/25% return in a year even now my risk is 0.25% per trade no crazy nonsense but I'll keep you posted..... .plan to fail but also plan to win from the data max amount of losses in a row was 24 with max wins in a row 14 I am dissecting the data to get the fluff out of it had about a 3 month losing streak in forward testing so I think i can stick it out but thought asking for additional advice would help because its never a bad idea to ask VP for advice

@khanyisadingiswayo1927 8 месяцев назад

@@NoNonsenseForex currently up 2% still keeping the 0.25% risk per trade

@Mr.spoon1001 9 месяцев назад

Before my system had to tell me to go on both charts 4h and daily so i can trade .stupid rule. And because iam just kept losing on the long run so for the past 6 months i just stick to the system with only one frame. And this is winning to me no matter what. I still look and have an opinion but i donot care. I trade based on the system. My system is the end result.

@NoNonsenseForex 9 месяцев назад

Yeah, I've never supported multi-tf trading for that very reason.

@philnewpower 9 месяцев назад

The example I can give is with the interest rate decisions effecting my trades, I will normally get a signal before the news event and the volatility triggers my exit signal so it ends with a loss. I've learned to adjust both my exit and have entered after news to avoid losses. Currently forward testing this. I really underestimated how patient you need to be as a NNFX trader.

@NoNonsenseForex 9 месяцев назад

I like the adjustment, and especially the pre-testing of it.

@jamilramzan6092 9 месяцев назад

To VP Only: Sir currently I'm confronting the worst financial crisis and due to this along with other issues I'm in deep tension and have become a depression patient so please special help me. i will be very grateful to you for this act of kindness. (English is not my first Language I hope so you will get what I am trying to convey to you). I'm anxiously waiting for your response.

@NoNonsenseForex 9 месяцев назад

This is a channel for do-it-yourselfers only.

@jamilramzan6092 9 месяцев назад

Sir just tell me the best C2, Volume and Exit indicator please or top 10 indicators it's humble request to you.

@NoNonsenseForex 9 месяцев назад