Trading Psychology is Bullsh*t... here's why.

I use TradeZella to track, journal and backtest my trades.

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#daytrading #tradingpsychology #trading

[UmarAshraf]

Should I make a video on HOW to develop an edge? If so let me know👇

[Vktradesimb]

Yes Umar, correct.

1) Psychology is the hyped logic to sell their courses.
2) You can take bad decisions when you don’t have your setup defined
3) As long as your setup is defined exits and entries must be refined through that
4) Your psychology helps you in different vantage points and approaches

5) Rule book helps you in Overtrading too.
6) Your psychology comes in play when you can’t let your winners run and let your losers run

[motionfx]

This is so important. Without an edge, all the psychology in the world is useless. People in the comments are misunderstanding your video and think it’s an or argument.

[damsolechauve]

"Facts: It's hard to be patient when you don't know what you're supposed to be waiting for. Work on that playbook, then work on your discipline and patience to stick to it."

[inthezone]

That's why the late Mark Douglas always said that he expected people already had an edge before he could start his psychology lectures...coz his work was not to teach edge.

[Ash__]

rofl There's actually a video on this guy's landing page about "7 things he learnt in 10yrs trading" and the last section is "trading psychology" in which he explains that "trading is 90% emotion, there's so much psychology involved, I can't stress this enough." Clearly a very serious person.

[nikkynft]

Highly disagree, an Edge is useless without control of your emotions, you need both, you need to build both at the same time, you'll NEVER have an edge if your mental is going against you...

[YashPatelYP]

One of the best explain of
Edge & Emotions👏👏👏

[edgarsanchez]

I disagree, I think emotions play a role during the entire process. From the very beginning and it’s something you must continue improving in if you want to continuously grow in trading. But I also agree that there’s a lot of beginner traders that blame emotions when in reality they haven’t developed a trading edge.

[austinbar]

I have a 3 fund portfolio consisting of 33% S&P, 33% Total stock, and 33% international. I feel a need to focus on complete growth so I went 100% stocks, but does the SP500 and TSM overlap too much to make sense holding both? However I’ve been in the red for a month now. I work hard for my money, so investing is making me a nervous sad wreck. I don’t know if I should sell everything, sit and just wait but watching my portfolio dwindle away is such an eye -sore.

[johndagmundex]

The man I look up to, always speaking facts, no bs.

[mayursinhrathod]

This video gave me more guidance than any Trading psychology book. Thanks Umar.

[hyperbolictimetrader]

Great video. I also think, the only time emotions/psychology plays a role, is if a trader is not confident in their setups/strategy. A professional trader doesn't have that problem, he/she will always be confident in their setup/strategy, win or loss, because they have back tested their strategy and they know that over a series of trades, they will be profitable, so they don't care if they lose 3 trades in a row, if thats a part of their playbook/strategy.

[hjk]

Wonderful brother!!!!
I am a new 2 months ago....
I can relate to wad you say...!!!!

Nd honestly....untill now....by am trying to approach it the other way..
.!!!
1st emotion...2nd system
And I end up blaming my psychology....
Felt it today itself...!!! After exiting my positions....!!!! SO A VERY FRESH EXPERIENCE 😂😅...

WELL
..YOUR WORDS HAVE MOTIVATED ME TO NOW CHANGE MY
AND HOPE TO GROW....AND CHANGE

Thanks!

[tequilasteve]

That makes sense by making sure you have a winning strategy to begin with, it will eliminate a lot of the emotion before you even place a trade.

[samujadama]

The trading world needs your mentorship!

[scotti]

Umar, mad respect for you, both your trading and your Tradzella venture (the Ferrari of trading journals). Your Vids are intelligent & to the point, your success without question, and I never leave with the feeling that you have an ulterior motive or don't give a dam about helping others. Thank you.

Without a measurable system (or Edge), we can't know if it's our system or our psychology or both causing PNL losses. Trading a sim account without real money is how to safely develop the edge & remove the psychological variable, then with real $$$ we can test our psychology.

If I could ask 2 wishes - 1) some real time examples of watching order flow in the tape or level II, you've teased more detail, but I can't find any vids with it. (i.e. showing a live tape and calling out what you look for and what you infer from the activity happening) and maybe 2.) unpacking at least few basic rudimentary playbooks you use often instead of the quick peeks we've seen that are of great interest to many! Thank you sir! You are appreciated.

[cedrickgutierrez]

100 % correct!!

the point of this video is if you don’t have a good strategy, you’re not be able to trade, yes having an edge is difficult but you follow your rules of your strategy, the psychology doesn’t affect your trades…

[Amybirdsallbraden]

*Excellent! I really do have a question. For someone with less than $1000 to trade or above. How would you recommend we enter into trading as a newbie? I would greatly appreciate any suggestions*

[vn]

True. Without positive expectancy strategy, all you can do by being psychologically strong is to confidently and consistently lose money. When there is proven strategy, no need to think hard, just follow plan and probabilities will do the rest. Unless a trader is on meds or mentally unstable, every healthy human is already psychologically strong enough by default to make money when there is a proven plan.