The Secret Power Of Full Time Traders | Forex Trader Motivation

The Secret Power Of Full Time Traders | Forex Trader Motivation

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In this Forex trader motivation video, you'll be hearing what differentiates top traders from the rest.

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- [Mike] After you've gotten that foundation, you do wanna be exposed to setups that have edge. And you wanna start experimenting, but you wanna be developing. And during that process you wanna figure out, hey, I think I'm this type of trader. I think I'm this type of product trader. I think I wanna trade futures. I think I wanna trade stocks. I think I wanna be a scalper. I think I wanna be a swing trader. I think I wanna be a technical trader. We wanna try all those different types of trades and have a conclusion about the type of trading you like, the type of trading that meshes with your talent, and then you wanna go from there. And then, the next journey, the next part of the process is you wanna be aligned with a senior trader who's way better than you, who trades like the way you wanna trade, and work with them on a daily basis. We call that team trading here. So at SNB we call it ... it's the third part, it's team trading. So you sit with a shark or swing or whoever the really good traders are on your desk.

- [Etienne] I know people are making excuses about debt. They wanna have accountability but they say they know no one that trades or know no one that can be accountable to. So what have you done to be accountable to someone? 'Cause I know people use, sometimes, their husband or their wife to be accountable to. They give reports of something about their trading. So how do you do it exactly?

- [Raman] So, I have tried that, being accountable to my husband. It sucks.

- Okay.

- It just doesn't work because he will ask me and when things are not going so great I'll be like, "Oh, stop picking on me." And he doesn't wanna do it anymore because he says we'll just get into an argument. So that may or may not be the best place, depending on whether your spouse or partner even understands trading or is interested in that. One of the things that I have done is I ... First thing I did, I started a Meetup group. So I was looking for someone else to do this. I couldn't find any so I thought, okay, let me go start a Meetup group. So I started gathering people and doing that. Another thing that I have done is I have started posting my goals on my Facebook account, my Facebook page. I haven't done it for this month, but every month I go in and post my goals for the month on my Facebook page so everybody who's in my friend circle will see my goals and then that's one type of accountability that I've created. And then I have also gone to my friends and I said to them, "These are my goals for the month." And these are my process goals as well, so they are things that I like to do in the morning. For example, I like to do meditation and I tend to do walking mediation or visualization. I have found it's just a good way to get started in the morning. So I will write that. I will create a calendar. I have a little calendar in my office where I put a check once I have done that. So I will then share that with a friend and say, "okay, this is what I want to be held accountable for and this is what I'm gonna do." So I find there are different ways of doing that. I started doing my daily analysis calls a couple of years ago ... I think it was two years ago. I just got a bunch of people together and say, "hey, let's do our analysis together." And I was the one who always did the analysis, just because people don't wanna do it. So that way it just helped... Every step, you don't know how it's gonna help, but I've found it's been, throughout the journey, it's been very beneficial.

- [Kunal] I had to go out and actually meet ... Over time, yes, I met people. I met my own mentor, Paul, who taught me a lot of stuff, and that kind of took my trading to the next level. And over time one of the things I found was ... Look, some people don't want a mentor, right? But you can get an accountability partner, right? Have a friend that also trades. You can meet them on social media, Facebook, wherever. It doesn't matter, there's so many ways ... Your blog, wherever. And share your trades. Share what happened at the end of the day.

- [Interviewer] Yeah, good or bad.

- [Kunal] Have that ... Get on a Skype chat or Gmail chat and talk to each other and share your trades. You can do something like that and that could be helpful.

- [Interviewer] So how did you meet your mentor, exactly?

- [Kunal] He actually was writing a blog, just like one of those Google blog spots. And he was just posting charts all the time saying check out these charts. And I just kept leaving him comments like, "what about this? "What about this?" And he would reply back and over time, because I just kept leaving those comments, I asked him, "will you teach me? "I'm missing a lot of stuff, obviously, "'cause I'm still not where I wanna be." And so he was like, "no, no, no. "I don't do any of that." And I was like, "Well, I'll pay you." I'm like, "What do you want? "Either I'm gonna spend the next 10 years "trying to figure this out or you're gonna help me." And he's like, "okay, fine." And so we had a handful of one-on-one sessions and we kept in touch. And, you know, you don't need much sometimes. A lot of times what you just need is somebody to kind of systematically tell you where you're missing. A lot of times traders, they have a lot of knowledge, but it's not filed in their brain in a proper order. They just have a bunch of random knowledge, but it doesn't necessarily make any sense. And so where you need to go is, put it all together in a system. It's like, how I look at a trade setup is almost like a recipe. You ever go inside a cookbook and, say you wanna bake a cake, and you open the recipe inside the cookbook for baking a cake. It's very specific, right? It's step one, step two, step three, step four, step five, down to the ice, every single thing you do. Two pinches of this, two tablespoons of this, one jar of this, this much sugar. Everything is listed in exact order but also exact amounts. And if you can follow that recipe, then guess what happens? At the end you have this nice cake. But what happens if you mess up one or two pieces of the recipe?

- Yeah, you get a bad cake.

- Your cake tastes like tofu.

- Exactly.

- Yeah, you get a bad cake.

- Yeah.

- And trading is the same way. A lot of times we're on all these blogs and we're reading these books. So we have all these ingredients in our head of different things. But we need somebody to come in and help us organize it into a beautiful recipe so that we can systematically do it. Because when you have a recipe, what can you do? You can repeat it, right? You can repeat, repeat, repeat and now you could start to build consistency.

- [Kim] Where people fall down is holding onto their profits, keeping their heads screwed on straight when they take losses or have a losing day. So it's not some big secret.

- [Interviewer] Yeah.

- [Kim] It's not. It's like everything that you and I have been talking about. It's in the public domain. But it does, it comes down to respecting your process, following your plan and just staying committed to that no matter what. Even if they sky is falling you just stick with your plan no matter what. Not everyone is gonna be successful and there's a lot of people out there that aren't successful and they struggle. And I've had some people just have to give up trading because they couldn't get their head on straight. So, unless you're working with a trading mentor who understands that a belief in consistency as a trader is really just a state of mind, and can help you understand that, embody it, you're gonna have little chance of succeeding. You can't just get it from a book and you have to be in the market to experience the phycology, the break downs, the challenges that all of us face. And you have to have some sort of support system. You need to be around other traders who are in the same kind of mindset too, you know, that can support you.

- [Barry] Don't fail and stop. It's like in sports. I'm a huge football fan. And so in football, what they do is they'll ... And most sports they do this, they will tape everything. They'll tape your practice, they'll tape the games. And then after the game, then they go back and they review the film and they show the players, okay, here's what we gotta do and change. They do it with golfing as well. They'll video tape your golf swing and make adjustments, right? And then you can say, okay, take those adjustments, go back to the field and you try to do better. And then they tape that. Oh, gotta make a few more adjustments. These are called feedback loops. So you keep getting the feedback and then going back into the game. That's what we do in trading when I train people on the psychological aspects of trading, then that's what we do, we use feedback loops. We don't just give people cutesy quotes and positive thinking and all that kind of stuff. It's like, no, trading is like a sport. It's a performance based activity. So to change your performance, we have to analyze your performance and change your behavior. But you gotta see that behavior from the outside. It's so hard for us to see it. That's why even professional athletes have coaches because they need those outside eyes. And as traders we need those outside eyes as well to give us that feedback. And then say, "Oh, okay," go back in and make those constant corrections.

- I want to thank you so much for watching. I just want to plug something here. We have an awesome offer for the academy that's available right now. It's a limited time thing which is going to be only available until this Saturday, March 23rd. And you get a bunch of bonuses. You're gonna be able to join yourself with the right people, get my help, get the help of all the people in the academy as well that can coach you, answer your questions and push you to get better result. Check out link below, we'll put it there and you can access this. If you see this video after March 23rd, 2019 then it won't be available, but reach out to us if you need any help. Here are a few comments of the past group. And you can catch any further comments, as always, down below in the comment section. And I'll catch you back here, in Phuket, tomorrow. Chao.

Interviews used for this Forex trader motivation video:
Mike Bellafiore
-Raman Gill
-Kunal Desai
-Kim Krompass
-Barry Burns

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About Me

My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader (who has the chance to travel the world anytime) and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.

You see, a lot of aspiring Forex traders lack the confidence to pursue their dreams. I'm there not only to help you develop your confidence but also to implement the tactics that are proven to give you results. You'll develop Forex trading discipline and the other skills you need in NO time!

Ultimately, you'll get to experience what a day in the life of a Forex trader truly looks like, but you'll also have to be consistent with your Forex weekly review!

I produce a traveling Forex trader vlog and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for!

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The Secret Power Of Full Time Traders | Forex Trader Motivation