Trading Psychology - Dr. David Paul | Risk | Euphoria | Discipline | Probabilities | Position Sizing

Short video from The Consistently Winning Trader Presentation delivered by Dr. David Paul at the Johannesburg Stock Exchange.

[jackdavid]

Every family has that one person who will break the family financial struggles, I hope you become the one.

[jessicamoore]

Successful investing/trading is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.

[ExxonMobilCompany]

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!

[nbnd]

The fact that Dr Paul's lectures are available for free on youtube is nothing short of amazing

Rest in peace Dr. David Paul

[veronica.baker]

Successful investing is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.

[Alonnaemeka]

This man is a legend, passed away yesterday. May his soul RIP

[joesphcu]

Successful investing/trading is hard work because it means disciplining your mind to do the opposite of human nature. Buying during a panic, selling during euphoria, and holding on when you are bored and just craving a little action. Investing is 5% intellect and 95% temperament.

[kimyoung]

Youngsters starting in investing need to learn the ropes, know how much risk they can handle and spread their investments around. Some folks get help from money experts or do their homework before making investment moves. It's all about being smart with your money.

[Raymondjohn]

Everyone has been preaching "buy now, stocks are at a discount" but I've been buying stocks at a discount since the beginning of the year and yet the cycle continues with more losses, I know the idea is to hold long term but God I could really give anything to see some growth happen to my portfolio.

[DarleneMurphy]

At this moment, it is crucial for individuals to prioritize investing in alternative streams of income that are not reliant on the government, particularly with the existing worldwide economic crisis. Investing in stocks, gold, silver, and digital currencies can still be profitable during this period. Therefore, it is advisable to explore these investment options to secure one's financial future.

[Rubyeverly-Jessica]

Great video. We are all seeking for financial independence and a better way of life. This is not difficult to achieve with savvy investing, a frugal lifestyle, and cautious budgeting. I'm glad I learned early on to work hard for financial independence.

[borsbossen]

Rest in peace Dr. Paul. Your were a true great and one of the best teachers in the game.

[VivekLuna]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...

[ethanhunterx]

0:00 Introduction to trading decisions
2:38 Trading simulation demonstration
4:34 Probability of consecutive losing trades
6:43 The clustering effect in trading
7:55 Risk management: surviving the clusters
9:00 Position sizing: the 1-2% rule
10:03 Trading psychology: the danger of euphoria
12:08 Finding your edge in the market
13:53 Building a simple trading process
15:02 Developing trading discipline
17:13 The path to becoming a successful trader
18:30 Conclusion

[gangly_fox]

Whenever I see traders struggling, I send them to this video. This video has all the answers to your dreams of trading for a living. Listen to the man.

[forthehomies]

Absolutely excellent presentation. As a summary of this video has been beautifully written by other commenters down here, I would like to add 2 Tips that have helped me immensely.
1: Find reasons to NOT take a trade. If a trade looks amazing, find a reason to not take it, and if you can't find one you will be that much more confident
2: Be EXTREMELY PICKY. I would rather miss out on a couple of trades just because I was being patient and picky rather than just jumping in one and relying on hope

[FarObserver]

I am sorry to hear of Dr David Paul's recent passing. Rest in peace, and thoughts with friends and family. I have found all his interviews/talks very upfront and honest with great insight into how to tackle this great game of probabilities.

[Riggsnic_co]

This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.

[oliviabenson]

At the very least, I now grasp the concept of leverage.
Creating <wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information.
Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely.

[mohican-jxfx]

I appreciate your approach to teaching.. To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough, we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. In my portfolio, I'm noticing more red than green. How are other people in this market raking in over $350k gains within months