The Unseen Enemy of Traders (Neuroscience Explained)
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- Опубліковано 12 вер 2024
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We explain how negative self-talk can ruin your trading performance.
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PART 2: • How to Stop Self Talk ...
📃 We like to share evidence-based information as much as possible, so we can avoid the false and misleading information that’s far too common in the world of trading and investing.
Here are some of the sources used for this video (this list is not exhaustive):
The Rate of Inner Speech (1990) - Rodney J. Korba
Spontaneous Thought and Goal Pursuit (2011) - Klinger, Koster and Marchetti
Wandering Mind Is an Unhappy Mind (2010) - Killingsworth and Gilbert
Why Do Athletes Choke Under Pressure? - Beilock and Gray
Choke (2011) - Sian Beilock
Anxiety and Cognitive Performance (2007) - Eysenck et al.
Anxiety and Working Memory Capacity (2016) - Tim Moran
Chatter (2021) - Ethan Kross
TRADING PSYCHOLOGY:
In this video we discuss how negative self talk can affect your mental state and performance. We explain why self talk happens, why it's important and how it goes wrong. We then get specific about how it will directly harm your trading performance, leading to bigger risks, bigger losses, limited focus and not being able to execute automatic skills properly. This is a very important part of trading psychology and something that affects traders from beginners all the way up to experienced traders.
#TradingPsychology #Trading #NegativeSelfTalk
Ive been interested in financial markets since 4 years ago and been trading Forex active since 2 years now, I realise my state of mind is not where it should be. First u think if u know the technical aspects of trading u can trade, that is not true, the mental game is the real skill u need to master. Working on it !!
It's comforting knowing I'm not crazy and the only going through this.
Hahahha ya im with ya.
Sold all my SPY calls @ 443 today.
Smh...self talk all the way to ATH! 😂
Right! lol
I agree. For example negative or positive NEWS can influence our decsion making concerning a stock.
But when we check the real facts about the company we see the NEWS may be very bias.
Then our negative or positive becomes more REAL or balanced.
I have Seen articles that were so deceptive it was basically a lie just to pull people in one direction
Thank you Nicholas
After five years of unprofitable trading it’s difficult to keep a positive inner voice. Really looking forward to your next video!!
I am on my 3rd year and things arent that good. We can talk?
Keep going mate. You'll make it!
Most of the money is held by people that have been doing this 20+ years they are just out of our depth so selectivity is key.
Don't give up! That's the key!
See you on the other side! 🔥
I am soon ending my second years with unprofitable trading nd it is destroying nd deviststing
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I am new to trading!Lost around $200 in olymp trade platform! Charts are so manipulated! Nothing works not even setting up indicators and Analizing the candle sticks! 90% of the time you loose! Came across your binary option trading video! Found so much useful information! I am never touching those kinds of apps again! Please give some tips in how to trade crypto currency
My inner voice killed me today , i watch my account go down and inside am thinking its going to work, but at the end time was against me and so was my inner voice who was like the trading devil
Yeah I myself blew up 3 accounts
YOu are like the personal guru I never had, i cann't believe how this vidoe don't have millions of views.
This video is gold. I wish I had heard this ages ago when I started trading. Rewatch the video if you have to and really understand what he's saying, relate it back to your trading mistakes. 98% chance, this is the problem you have. I struggled for years in trading before finally understanding this very thing.
Awesome explanation on this subject bro 👏
I've been a consistent loser in the market blowing up account after account. This didn't happens because I don't know how to Spot good or high probability trade, it happens because my inner voice is working against me. For example I spot high probability setup I than take the trade now it goes maybe few tics to my direction and it starts reversing and my inner voice goes like" I'm gonna lose this, can't let my profit turn into a losing trade" I get out with a small profit and the trade continue with my direction, and the inner voice goes like" NO!!!!!!! I shouldn't have get the trade" got mad and try to revenge it and lose more. This got me sick like serious sickness got depressed for weeks when find out that my account should have grown with 40% instead I blew it .
Print this quote and put it to your desk. Everytime you open a trade and wanted to counter act against it, just remind yourself with this:
“My life will get a lot easier if I block all that reasoning and just follow the original plan. If I cannot follow my plan on this ONE TRADE and the next, then maybe I shouldn’t be trading.”
@@alanpage3198 thanks brother I'll try this one.
@@alanpage3198 I have saved your quote, honestly.
Nice video!Until now i was not thinking about my inner voice but I just realised I really need to take care of it. My inner voice is not just criticising bad trades only but even good decisions that I could've done even better. I am really looking forward for the next video to come! Amazing content as always! Thank you!
Great video - what I struggled with is catching the negative self-talk and doubt in the moment. It would make me hesitate and second guess trades, mismanage stops or exit early and I never realised it until after the event ! Sometimes it would be days or weeks later.... doh
Great video. Currently trying to listen to recordings of positive talking to combat my automatic self talk and impose a better one.
We really are programmed beings, better to have some say in your self programming.
My inner voice has gotten completely out of control. It's ruined a lot of things. Been better for the past week or so but it's still there. Thanks for making this, looking forward to the next one!
🙌🏼 this is something I encounter often, although it has lessened lately, not because conditions changed, but because I feel like I've learned to manage better. Like you said, being conciously aware of the present grounds me in the now, which lessens the mental chatter a great deal. Also don't place yourself in the position in which you know that doubt and negativity will come! For example not putting in a SL.
Its true, my negative talk sabotages my progress, the enemy is within. Looking forward to your toolbox
I don’t understand why you channel isn’t getting more views, very frustrating!! Keep up the good work.
I watched the second video before this first one. Lovely, golden nuggets. We need one video from you, though. It will be "The video". Where you show how the market manipulates the trades and creates disillusion, the tension that scares retail traders and pushes them to make irrational decisions, how your inner thoughts manipulate your trading, and how to encounter such threats. A real-life trade where you show " your" feelings and thoughts processes. We are ready to pay for this trade. Such a video will collect millions of views, something that is not anywhere on the internet.
I do a 4 hour live streaming session each week in our community, where I talk through every decision and what I'm thinking. Unfortunately, despite people asking for trading videos on this channel before, whenever we did live trading videos they didn't get much interest at all, so we delisted them all quite recently to stop them causing the channel to underperform - not quite the millions of views you're expecting! I'll take your comments on board though and see if there's something we can put together that covers what you're asking for.
- Nicholas
You should do one about confirmation bias, how the market crafts it by creating tension and relief for the winners(sometimes random), teases and discourages the losers, then breaks the pattern right at the collective psychological mean. The randomness throws winning traders into disillusionment that their process was correct and vice versa, throwing inexperienced traders into a maze of their own egos. Am I right?
I wish he can make such a video. You are absolutely on the right wave of thinking. One video, one video only where he is actually trading and explaining the thoughts process he is getting through and how he is mitigating it, and what course of action he's taking to counter his inner voice.
ua-cam.com/video/TnS31www12Y/v-deo.html he goes over it here.
When I'm in a trade that I analyzed and know it to be correct my negative talk makes me look for reasons to exit that trade and I find the smallest reasons that aren't even trading related to exit the position and then the setup ends up working out without me in the trade. I have done this so many times it's really frustrating because I spent so many years learning how to trade and now I can trade but I just can't hold trades due to this damn voice in my head
Thank you very much for sharing. one of the best videos I've ever seen.
Great video. Can’t wait for the toolbox video !!!!
My inner voice seems to always activate self doubt which makes me over analyze and then exit to re assess only to see my initial plan working. And that’s emotional trading!!!
Brilliant video Nicholas. Very helpful. Thanks :)
This is amazing. even for not trading, just life in general. You think unhappy thoughts, that's what you'll become
Interesting to hear research saying what people think about is a better indicator of future success than what they are doing. That wild.
I just try to focus on the price and where it IS going. If it IS in an uptrend and holding Just let it go UNTIL it confirms it IS Going down
Really needed an advice like this I struggle with this negative thoughts
This is a personal idea, as with any business or trade, when the energy in the brain is exhausted, stress increases, and you learn pleasure substances, which makes trading bad or stressful. It explodes and gets sick, so I think the important thing is how to not create stress and how to improve daily happiness.
This is the stuff that nobody covers that everyone needs to hear
Your videos helped me a lot in recent time I watch one video and write down things
Thanks
Pure gold. Thanks for sharing.
Thanks Alessandro.
- Nicholas
4:56 i felt that one 🥶
on a bad streak lately....woke up to this video from the algorithium suggestion. thx.
Amazing video. But, I find that sometimes it does helps identifying your mistakes in trading.
Awesome video
This Video does open my Eyes. Okay Then, I am definitely wait for your next video on this topic.
Looking forward to the video!
Amazing video, meditation is very helpful in understanding this process.
Thanks Rafal! Yes, meditation can definitely help.
- Nicholas
7:52 is gem talk
how can one change your inner talk, since it is the root cause?
Over analyzing is a big problem for me
I scalp the ES and while I'm in a trade, if it pauses and starts taking longer than I thought and I'm trying to decide if I should bail or hold. My inner voice usually says, "that should work. Is this a failure or is it just taking a longer time than I expected". Stuff like that is what's going through my mind.
You are not just a good trader, you are also a wise trader! thanks for the great content.
thanks for the vid Nicholas i def go thru this and its killing my trades and health
Negatif self talk has destroy me and my trading account last year ago. Until i decided to meet hipnotherapist to reprogramming my mind. And now, for me trading much much more easier, more profit.
I supress inner voices with meditation and other practices.
Thanks for the advice. Appreciate
I know the profitable setups which actually works more than 70-80% . But still I trade on my instincts or you can say I am not patient enough to wait for the conditions of setup . I just trade by looking at price when ut starts to move and just after taking the trade the price reverse. Could you please make a video or recommend if already made by you , why am I making this same mistake over and .it’s like I get hypnotised by the mkt moves . Is this psychological or discipline issue abd how can I fix this .
Thanks
Sounds like it's related to FOMO. We have a video coming up that covers how to deal with that.
~ Nicholas
@@Duomoinitiative thanks 😊
Please make a video about forex prop firm.
We'll cover that topic soon!
- Nicholas
Perfect timing. 5 years in, probably had a few profitable strategies in the last year but im settling on one atm as it fits my personality. Only problem is the mental chatter won't let me believe it.
Do you think only a long run of profitability... let's say 6 months will stop the worry? / start believing the profitable results im seeing
Good job on specifying a strategy that fits your personality. im 5 years in too . i have the same mental chatter you mention. i think we should always be aware of drawdowns / maximum losses of our edge. so we keep continuing it no matter about the past streaks. as we know switching strategies or trading multiple edges can be a blocker for being consistent. all the best .
I need to change the things I say to myself
Commenting👍
Perfect
there is one word that keeps repeating in my head and out loud.... F#CK!
I Give Up Trading,
Go ahead, this isn't for the weak
Great one! Really makes you open your eyes wider and identify if your inner voice is that mf who got you into 3 L's in a row....Thanks for this video!
Hang on,
The title changed
Relatable
1337 video length GG my master :-P
I believe that you can grow an excellent beard