#518: Are You Emotional or Erratic?

Online Forex Trading Course

Are You Emotional or Erratic? Podcast: Signup For my Forex Masterclass Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now #518: Are You Emotional or Erratic? In this video: 00:27– What type of person makes a good trader? 00:50 – Having a strategy and controlling your emotions 01:26 – We all see and know reactive people 02:37 – Have a plan and stick to it 03:21 – Daily trades and Weekly Webinars 04:05 – Consistency is key 04:37 – Book a call to chat with us 04:51 - Blueberry Markets Emotional and erratic. People will never make good traders. To trade properly, you've got to get your emotions under control because it's all about the head. Let's get into that a more right now. Hey there. Traders! This is Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 518. What type of person makes a good trader? And quite a blunt lesson today in some ways. And it may upset a few people, but, you know, possibly that's the point. And if you want to give yourself a good chance of being a good trader, you have to control your emotions. You cannot be one of these erratic, emotional, responsive type of people because the chances are you're not going to do very well at trading. Having a strategy and controlling your emotions You see, trading, we know, is all about having a strategy and understanding what you're doing, but it's all about understanding. It's also about understanding your mind, your heart, your emotions, because the reality is that we're trading with real money and emotions come into play. You cannot hide that. You know, you can get away from the fact that. If you’re on demo, you may not quite understand this yet, but if you’re live trading, you will know that emotions come into trading and become a big part. So you need to understand the emotional, psychological side of things, plus your strategy and how the market works and put that together. We all see and know reactive people Now, look, we've all seen, you know, emotional, reactive, erratic people. You know, you see them if you're driving, you see them on the road and they had blowing a horn for something stupid. You see people at airports, you know, when emotions start getting a little bit much and people get a bit stressed and they go to do dumb things. You see that around like, you know, you seen it in the last few years with all the stuff that's going on in the world. And if you've got any slight opinion or different to the, you know, the government or mainstream people have been smashed for it, well, they're just having their opinion. And much of the time they've probably done more research than everybody else anyway. So but people find it very easy to be emotionally reactive rather than actually stopping thinking and in doing things properly or just letting someone house have a different opinion, it's perfectly fine. It's nothing wrong with that at all. So what makes the world go round? It's what makes trading go. You know, why is why do some people see the market moving up and all those people said moving down? So you've got to get that under control. Have a plan and stick to it Really important because when it comes to emotions in trading, you need to also have some form of plan and stick to it as well. You know, people that just suddenly go. The six hour charts are rubbish or last week they failed so and I lost money on them. So I'm never going to look at them again. Hey says mate, why would you do that? You know, if your strategy is to look like mine, let's say twice a day, and I always look at the daily charts and at the same time I look at the 12/8/6 and then that's at 5 p.m. New York time, 5 a.m.. I'm always there, you know, always on the forum site. I always there looking through the shorter time frame. So the two, four, six, eight and 12 at that 5 a.m.