I’ve been following your videos since the first one I was lucky enough to come across and I’ve been amazed on how much they have helped me , not just to see the markets and what price is doing but the way I need to rethink how I’m feeling and trading with my emotions , it’s odd how we hear it but don’t get it until .. we get it .. you sir are extremely intelligent and the way u explain your thoughts in your videos helps to understand the information in practical ways so it’s possible to learn from it and build from it . Also your Type 1 and two closes are gold . I use them in my own strategy and it’s helped significantly . Take care and thanks for sharing all that you do -
I gotta say that there were two instances I can remember I was totally biased and it came down to trading. The first one was when silver was at 25$ per oz I kept seeking confirmation biases from the forever bearish doom and gloomers. The second was back when BTC retraced to the 6K level after having sold my position at 15K earlier. I was convinced that both would take off... Wishful thinking. Lol that being said I do think we are at the start of a new bull market in crypto currency is about to start a new cycle very soon. Silver however may be still in a coma. I basically had to reassess the situation and take a long hard look in the mirror about this stuff and figured I was ignoring my method because I wasn't being honest with myself. My ego got in the way after a string of wins and I got stuck holding some bags which at this point aren't so bad. Moral of the story... Don't think you are invincible because you get a string on winning trades.
I've been long GBPUSD for the past week, I'm curious, what caused you to believe it was going short? Did you think it was "overbought"? Was there a resistance level?
Great video Nicholas, I’m a qualified Marine Biologist and I once saw a group of people trying to help an injured marine mammal on TV and listening to all of the people complaining about how they didn’t know what they were doing and how they were harming the animal further. Needless to say my emotions immediately took over and I found myself taking the side of the crowd who were against these people. I then stepped back and began to think about things from a more rational point of view and I asked myself what are these people trying to achieve and is this a good thing which evidently it was. Ok so my next question was who were these people and despite how it looked and what was happening did they actually know what they were doing. So I decided to do some more research and after looking into further I found out that they were actually trained Marine Mammal Medics from a volunteer organisation called The British Divers Marine Life Rescue service (BDMLR) well needless to say but my opinion changed and I decided to attend a training day to find out more and I have been a member of the BDMLR ever since. 👍
Great video... FOMO where you tend to see an opportunity developing and your own bias makes you act before you have enough information. The fear of missing out used to encourage me to act and believe i was seeing what I wanted to see.
A trade today I saw a gap up and I saw the technicals pointing to a short setup but it kept holding support and pushing back up. I took my short stop loss and saw an inside hammer form on the vwap and 8 and took it long with adds over whole dollar and on 1 and 2 min pullbacks. what I "felt" was wrong... Should have waited for the market to show it not hope it
I started my journey with the bitcoin bubble, back then i was affected by everything in the markets, as i learn more and more trading psychology i realise how naive i was and that it is impossible to have succes with that kind of mindset! more like a lack of it :)
Another bias can come from analysing a losing trade in that you are looking for all the reasons why it didn't work instead of waying up how well the trade met the set up you are supposed to take.
...yeah, I got one...I call it my Reverse Round Number Bias. This is how it works...say I'm sitting with $500 in un-booked profit and instead of booking it, I'm thinking gotta Let My Profit Run and it comes down to $493...well that's not a round number so I don't book it, thinking it's just a retrace, then it's at $498...almost there, then it's at $475...well Round Enough, I'm thinking, and I book it having given up 5% - Reverse Round Number Bias
this is happening to Indonesian presidential candidate #2. He declared victory before it is even announced(22nd of May). 5 quick counts says that #1 wins but #2 quick count version says that #2 wins by 60%, then #2 just accuse those 5 quick counts for cheating and ofc inevitably #2's followers will obviously believe #2 because that is what they want to hear. I just hope that my country doesn't go chaos because of this human flaw..
Does having a bias really make your trades better or worse though? If you follow a strict and consistent system of trading, wouldn't it become somewhat irrelevant since the probabilities of your trades to win/lose remains unchanged since you're using the same system?
help us lawd ! all those questions bang around in my head cant stand the the mental monologue has echoeos at decibels specially post string of losing trades. need to skip this video incase i see a question i missed - twill just add to cacophony between my ears
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I’ve been following your videos since the first one I was lucky enough to come across and I’ve been amazed on how much they have helped me , not just to see the markets and what price is doing but the way I need to rethink how I’m feeling and trading with my emotions , it’s odd how we hear it but don’t get it until .. we get it .. you sir are extremely intelligent and the way u explain your thoughts in your videos helps to understand the information in practical ways so it’s possible to learn from it and build from it . Also your Type 1 and two closes are gold . I use them in my own strategy and it’s helped significantly . Take care and thanks for sharing all that you do -
I gotta say that there were two instances I can remember I was totally biased and it came down to trading. The first one was when silver was at 25$ per oz I kept seeking confirmation biases from the forever bearish doom and gloomers. The second was back when BTC retraced to the 6K level after having sold my position at 15K earlier. I was convinced that both would take off... Wishful thinking. Lol that being said I do think we are at the start of a new bull market in crypto currency is about to start a new cycle very soon. Silver however may be still in a coma. I basically had to reassess the situation and take a long hard look in the mirror about this stuff and figured I was ignoring my method because I wasn't being honest with myself. My ego got in the way after a string of wins and I got stuck holding some bags which at this point aren't so bad. Moral of the story... Don't think you are invincible because you get a string on winning trades.
I have that issue for some reason i want to short everything no matter what
I had this experience shorting GBPUSD today, it kept going long but only saw the pair going short.
I've been long GBPUSD for the past week, I'm curious, what caused you to believe it was going short? Did you think it was "overbought"? Was there a resistance level?
Interesting really 👍
@@amaze2n was anticipating a short intra day, don't blame me we all see what we want to see
@@mannyox6989 Not blaming you mate, just curious.
Great video Nicholas, I’m a qualified Marine Biologist and I once saw a group of people trying to help an injured marine mammal on TV and listening to all of the people complaining about how they didn’t know what they were doing and how they were harming the animal further. Needless to say my emotions immediately took over and I found myself taking the side of the crowd who were against these people. I then stepped back and began to think about things from a more rational point of view and I asked myself what are these people trying to achieve and is this a good thing which evidently it was. Ok so my next question was who were these people and despite how it looked and what was happening did they actually know what they were doing. So I decided to do some more research and after looking into further I found out that they were actually trained Marine Mammal Medics from a volunteer organisation called The British Divers Marine Life Rescue service (BDMLR) well needless to say but my opinion changed and I decided to attend a training day to find out more and I have been a member of the BDMLR ever since. 👍
Great video... FOMO where you tend to see an opportunity developing and your own bias makes you act before you have enough information. The fear of missing out used to encourage me to act and believe i was seeing what I wanted to see.
A trade today I saw a gap up and I saw the technicals pointing to a short setup but it kept holding support and pushing back up. I took my short stop loss and saw an inside hammer form on the vwap and 8 and took it long with adds over whole dollar and on 1 and 2 min pullbacks. what I "felt" was wrong... Should have waited for the market to show it not hope it
I started my journey with the bitcoin bubble, back then i was affected by everything in the markets, as i learn more and more trading psychology i realise how naive i was and that it is impossible to have succes with that kind of mindset! more like a lack of it :)
Amazing, videos like this really shape how we view everything about everything, thanks a million
Great topic, presented in an unbiased way :) Congrats!
Another bias can come from analysing a losing trade in that you are looking for all the reasons why it didn't work instead of waying up how well the trade met the set up you are supposed to take.
Manifestation. 👨🏻💻♥️
...yeah, I got one...I call it my Reverse Round Number Bias. This is how it works...say I'm sitting with $500 in un-booked profit and instead of booking it, I'm thinking gotta Let My Profit Run and it comes down to $493...well that's not a round number so I don't book it, thinking it's just a retrace, then it's at $498...almost there, then it's at $475...well Round Enough, I'm thinking, and I book it having given up 5% - Reverse Round Number Bias
this is happening to Indonesian presidential candidate #2. He declared victory before it is even announced(22nd of May). 5 quick counts says that #1 wins but #2 quick count version says that #2 wins by 60%, then #2 just accuse those 5 quick counts for cheating and ofc inevitably #2's followers will obviously believe #2 because that is what they want to hear. I just hope that my country doesn't go chaos because of this human flaw..
Nice explanation.
really good video! extremely interesting!
Thanks Manuel!
Does having a bias really make your trades better or worse though? If you follow a strict and consistent system of trading, wouldn't it become somewhat irrelevant since the probabilities of your trades to win/lose remains unchanged since you're using the same system?
Great video, tks for the content!
I am always bias about direction of the market.
I have blind spot bias
First one.
But listen, what is your tool to be profitable? Support and resistance? 😅
when my weight reaches 69kg, all hell breaks loose
I am baised that I am not baised .....but I realised how baised I am 😂
😂
help us lawd ! all those questions bang around in my head cant stand the the mental monologue has echoeos at decibels specially post string of losing trades. need to skip this video incase i see a question i missed - twill just add to cacophony between my ears
Wait,.... the Earth isn't flat?
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🔹 Add us on Instagram: instagram.com/duomoinitiative/
🔹 Our second channel for financial news and analysis: ua-cam.com/users/MarketMoversFinancialNewsandAnalysis