Trading Psychology Podcast Ep58: The Good and Bad of Forex Trading

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WARNING: This is more of a beginner episode, but should still be enjoyable for most of you and definitely has psychological undertones to it if you're paying attention. But it's mostly VP and Robb sharing old war stories for 42 minutes, including the one time Robb traded 100 lots in one trade!!
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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:

28 янв 2024

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Комментарии : 23

@niteshade2271 4 месяца назад

Yayy some love for Forex! Finally! Great episode, although there isn't anything discussed here that i didn't already know. The dumbest misconception I had about forex was when I believed that every other technical indicator I found online was useful in some way and had the potential to be a part of an algorithm. I still had hope that it was gonna be somewhat easy. Boy was I wrong. That was the turning point for me. Accepting how hard the search and algo building was gonna be and still going for it.

@KyleBaran90 19 дней назад

Remember how I said I had it figured out? Just got my first taste of weekend gap moving against me. My account size is relatively small, so I was positioned to lose $2 per leg. Turns out EURGBP decided to gap and turned it into $13 per leg for a total loss of 35% account size. Not mad, I'm amused more than anything. Lesson learned about closing trades by the weekend if TP hasnt been hit

@ab_i1 5 месяцев назад

Don't know why everyone blame leverage ..to my understanding leverage doesn't matter we trade nnfx way so we know our entry , sl and tp ..what matters is Position Size not leverage ..i trade crypto n use the highest leverage when my tp 1 hit i can withdraw all money from that trade then my sl ( liquidation) price will be my entry ...it gives me the lexury of withrawing my money for other trades while waiting next tp on previous trade

@DaddychiLL6 5 месяцев назад

Your vids were the very first I ever watched when I found out about forex and ain’t been mad since ❤ keep it up no nonsense

@Juhno 5 месяцев назад

Ha. I'm from a country where you don't tip. Ever. (Great episode. War stories and examples are always great.)

@Mr.spoon1001 5 месяцев назад

Love this episode. I think forex suits me very well as i can trade before i sleep which is before the market close for the day by half an hour and it doesn’t go against my job working hours and this is doing what vp taught me. We will see in the future hopefully i can be a proper firm trader. And i wish i can trade stocks but I don’t have the time. Maybe in the future.

@Aegis_Mind 5 месяцев назад

38:08 speaks to me

@darkostefanovski7647 5 месяцев назад

Go VP 🎉🎉🎉

@sybentley6675 5 месяцев назад

Aud/Nzd? I used to have a car that moved like this does at the moment?

@Replace.Garage.Door.Spring... 5 месяцев назад

Jumping In & Out was bugging me with CHFJPY last 10 days. Thanks Rob now i feel all Warm & Fuzzy on the inside. Or that might be the shot i just took. LOL . Peace!

@devorre2024 4 месяца назад

can you make a podcast about websites or useful tools to backtest your system? Because once you understand your podcast idea: psychology, that's what you want to do, so the question is: which are the most objective backtest systems? and how would you implement them? Thank you so much.

@KyleBaran90 5 месяцев назад

Still trying to catch biotech trades. On Friday, I put in an order for 1.50 for a stock for 1.60, expecting news. It popped off 25% today before I could get into a position. I was bummed out for about 2 minutes, then realized that I managed to identify a potential win ahead of time, which means I can do it again. While I would have made "only" $50 (about a 0.7% account win), I reminded myself to not feel like I'm leaving money on the table, either, and that other trades will come and that one trade alone doesn't matter. If you looked at my attitude a year ago, it would have felt very different, so I feel like I have grown from my time here.

@NoNonsenseForex 5 месяцев назад

I still hate biotech so very very much.

@KyleBaran90 5 месяцев назад

@@NoNonsenseForex Any particular reason? I know you said you've dealt with penny stocks before you really got into forex. Otherwise, it feels like they're all pump and dumps with a lot of dilutive action behind them. Okay for news trades I guess, but usually terrible for long holds, unless it's a big company that has dozens of drugs and is stable

@TurnkeyTrading 5 месяцев назад

I think forex is the most difficult to trade, a lot more difficult than stocks. The surprises and volatile moves are just too much sometimes. Stock prices are easier to predict. I traded forex for six years and had to walk away and got into stocks and found it much easier to make money. Only now am I wading into forex once again, but this time a lot more skilled with the charts.

@NoNonsenseForex 5 месяцев назад

We have a stock episode coming too (shhh)

@archravenineteenseventeen 5 месяцев назад

17:45 yeah that's me after Israeli Palestine conflict in October 12. It was a great trade then got hit SL with a huge ahole gap

@azliothman1322 3 месяца назад

America is the land of opportunity, spot forex/gold/crypto is the market of opportunity, where anybody no matter how small his initial capital is can succeed