167: How To Deal With Trading Emotions (@MPX_Trader)
In episode 167 of the Desire To Trade Podcast, I sit down with full-time day trader and trading psychology coach Mandi Pour Rafsendjani in Melbourne to discuss how to deal with trading emotions.
Trading with your emotions can be difficult at first, but by applying the tips in this podcast episode, you'll make the process much easier. You'll find out the techniques used by very successful traders on how to deal with trading emotions.
Topics Covered In This Episode
- How Mandi responds to people that trade with their emotions and why it’s important [1:47]
- How people all go through the same feeling of everything is going against them in the beginning [6:57]
- How a mentor can help you [7:39]
- Why having support makes life easier [8:26]
- Why not to go alone in trading [9:54]
- Why you need to look at emotions [12:41]
- How trading and emotions comes down to overleverage [15:07]
- Several things that can cause you to overtrade [17:50]
- Why people can overtrade as a replacement for something they lack [19:07]
- How to solve problem after problem [20:27]
- What the steps to deal with the emotional intensity of what you go through are [24:07]
- Nature or nurture? [27:09]
- Having a subconscious emotion that affects your trading [29:26]
- Risking too much and not controlling the money [34:42]
- What happens when you give your profit back to the market [35:59]
- Working on something you have to work on and also emotionally [41:43]
- Trusting yourself and avoiding the “little sister” syndrome [43:43]
- Taking only sensible trades and setting a standard for yourself [44:36]
- How 90 percent of traders don’t have a strategy that’s proven and tested [47:22]
- Using backtesting platforms [48:20]
- And many more!
How To Find Mandi Pour Rafsendjani?
DesireToTRADE Top Resources
- Desire To TRADE Forex Trader Community (free group!)
- Complete Price Action Strategy Checklist (free checklist!)
- One-Page Trading Plan (free template!)
- DesireToTRADE Academy (exclusive training program)
What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!