Hi Pat, I’ve just seen your interview. Thanks for sharing some really valuable thoughts. By the way, as it didn’t get much clear for me, I wonder what kind of system you use or mention when you’re referring to a Trading plan. It wasn’t clear for me, for example, if you trade using setups or doing analysis, in this case finding entries in a pattern. Also, I totally agree when you say you have to find a strategy that correlates to you. That’s fundamental. Cheers from 🇧🇷.
Thanks Etienne🙏💙@Pat, took me 10 years to figure it out😉💙 If I may add to the conversation... a high account balance has a huge effect on whether decisions are outcome or process based. Being faithful in the least will not necessarily be the case when you "have" much and the relationship with money itself has (a) huge influence on how we stay disciplined. I think stewardship* becomes much harder when it is a traders own money on the line but can also be a liberating experience... "Money can buy some things to create happiness, but it can never buy happiness." Ellen Barrier “If you want to know what God thinks of money, just look at the people he gave it to.” Dorothy Parker "You win some, you learn some." Jason Mraz "You live and you learn."
I think God is aligning me here. The past two videos seem to be talking to me directly. This one has given me a nice idea od dealing with prop funding when I am in DD.
Personally, what I did was I tracked and documented how much money I would have made if I closed trades based on what I felt in the moment was the best time to close a trade vs what the process I created told me was time to close out a trade. Sticking with my process was hands down more profitable long term.
Fantastic Interview!!!! The process or outcome decisions are also part of managing the trade as well as going into a trade. I also loved the advice regarding picking a prop firm that resonates with your strategy because if your strategy does not produce 10% in a month, you're more likely to fail most of the prop firms out there. Thanks to both etienne and Pat!
the mindset of being a trader is very important. thank you for the video, it is very useful for me, a beginner who is in the learning stage in the NFC community.
Very good interview. This is a very helpful talk that will help people see through there losses, and work in a probability game following there edge. Well done, great video
Cannot replicate nor emulate trades. Everyone of us has a distinctive skills, talents, ideas and above all capabilities, follow your rules, has an edge and make sure the odds is on your favor.
I love this video and share this quote with you too, “A successful man is one who can lay a firm foundation with the bricks others have thrown at him.” -David Brinkley
are you considering consitance & constancy on your trading journey ? maybe becoming CONSISTENTLY Profitable!??? or are you CONSTANTLY CONSISTENT ALREADY?
Thank you having me on Etienne - always a pleasure sharing some insights on trading psychology🙏
It was a pleasure to listen to you. 🙏
Hi Pat, I’ve just seen your interview. Thanks for sharing some really valuable thoughts. By the way, as it didn’t get much clear for me, I wonder what kind of system you use or mention when you’re referring to a Trading plan. It wasn’t clear for me, for example, if you trade using setups or doing analysis, in this case finding entries in a pattern. Also, I totally agree when you say you have to find a strategy that correlates to you. That’s fundamental. Cheers from 🇧🇷.
Outcome VS Processed based trades.
I feel like that really opened a new door for me mentally.
Thank you Entienne for putting in so much effort getting these great minds to freely speak on your platform.
the pain of discipline,is less than the pain of regret.
That's my Coach! Awesome interview as always ❤️❤️🥂
consistent execution of a trading plan leads to consistent results- take away,, thank you so much
Thanks Etienne🙏💙@Pat, took me 10 years to figure it out😉💙 If I may add to the conversation... a high account balance has a huge effect on whether decisions are outcome or process based. Being faithful in the least will not necessarily be the case when you "have" much and the relationship with money itself has (a) huge influence on how we stay disciplined. I think stewardship* becomes much harder when it is a traders own money on the line but can also be a liberating experience...
"Money can buy some things to create happiness, but it can never buy happiness." Ellen Barrier
“If you want to know what God thinks of money, just look at the people he gave it to.” Dorothy Parker
"You win some, you learn some." Jason Mraz
"You live and you learn."
That’s a great point, Johan! However you must train yourself to be disciplined even when capital is low. Ultimately we’re creating habits
I think God is aligning me here. The past two videos seem to be talking to me directly. This one has given me a nice idea od dealing with prop funding when I am in DD.
Personally, what I did was I tracked and documented how much money I would have made if I closed trades based on what I felt in the moment was the best time to close a trade vs what the process I created told me was time to close out a trade. Sticking with my process was hands down more profitable long term.
This is something I've started doing and I came to the exact same conclusion.
Having a step by step trading strategy has really changed by trading positively💯
Very essential knowledge on trading! Thank u!
Cheers from Panamá 🇵🇦 thanks for this
Wooow, i really gained a lot from this interview💯
Daily timeframe is my go too!!! Breath of fresh air!!
This guy knows the game.
Trading systems are only 1/2 the battle.
Knowing yourself and your own psychology is at least as important and more so imho.
Thank you Étienne ! Your channel has helped & is helping me so much!
Always my pleasure!
Thank you so much for this interview I am subscribing immediately to Pat
Nice advice on the systematic approach to minimizing risk loss.
Awesome podcast boys, showing the realities of trading and the importance of the power of the mind!! 👏🏻
The importance of having a process and following the process, not an expectation.
🙏🙏
Glad you liked that interview, Aaron!
Fantastic Interview!!!!
The process or outcome decisions are also part of managing the trade as well as going into a trade. I also loved the advice regarding picking a prop firm that resonates with your strategy because if your strategy does not produce 10% in a month, you're more likely to fail most of the prop firms out there. Thanks to both etienne and Pat!
thank you so much Etienne, I appreciate these interviews so much you're truly a blessing man I can't thank you enough👑
This is a great and important video. This is where I am working to improve.
Consistently CONSISTENTLY GREAT ADVICE AND PODCAST! Etienne and Pat much love from Washington state USA
Great interview. Very insightful information on mastering ones trading psychology. Thank you Pat and Etienne
Great video again Etienne.
What some traders need is to journal their trades 💯..
the mindset of being a trader is very important. thank you for the video, it is very useful for me, a beginner who is in the learning stage in the NFC community.
Law of 5P: positive mindset,perfect discipline,proven method,patience and persistence
Very good interview. This is a very helpful talk that will help people see through there losses, and work in a probability game following there edge. Well done, great video
Thanks E I think psychology is right behind technical analysis as far as importance.
What a phenomenal interview. Thanks for sharing Pat, will definitely check out your channel. 🔥
Amazing!
@@PatBailouni❤
Your videos are great brother thank you!
Powerful!!!
what he spoke about from the 15:00 mark onwards is really useful
Great points, thanks for this interview.
Great interview. Very important principles when trading
Blessings from Puebla, Mexico.
great podcast and content, Thanks man 🤘
Very glad you liked it!
@20:30 im in this exact situation as i sit and watch this, waiting, hoping things swing in my ASSUMED direction, to get back to my plan, ugg
FANTASTIC
Very good. Thanks.🙏 But always would like to See on chart when guys show how they trade!
Any book you suggest related to "process thinking" for traders? Thanks
Trading in the Zone by Mark Douglas.
Great podcast ❤️'d it
outcome Based decision has been blowing my accounts over and over again😅
Don't beat yourself up 🤗
Cannot replicate nor emulate trades. Everyone of us has a distinctive skills, talents, ideas and above all capabilities, follow your rules, has an edge and make sure the odds is on your favor.
@9:15 BOOM
Yes this interview is way better than the last one with Boris. He was drunk
I love this video and share this quote with you too, “A successful man is one who can lay a firm foundation with the bricks others have thrown at him.” -David Brinkley
are you considering consitance & constancy on your trading journey ? maybe becoming CONSISTENTLY Profitable!??? or are you CONSTANTLY CONSISTENT ALREADY?
I,m beginner, I,ask can I bollow money in the trading company as a member?
If I gave money to everyone asking on UA-cam I'd be broke. :)
Key word: confluence
Motivation
If I lose and journal and avoid them 😮💰
Straight out of Mark Douglas's book.
U SHOULD BRING ICT ON BOARD
Sounds like a 5 page plan
needs subtitles. you talk too fast with an accent its kinda hard to understand.
Speak slowly and with breaks between words man.
If they trading and teaching they not making money
This is perfect guys 🫶🏼
Glad you liked the interview!
@20:30 im in this exact situation as i sit and watch this, waiting, hoping things swing in my ASSUMED direction, to get back to my plan, ugg