THE ANONYMOUS FOREX TRADER! HOW TO MASTER TRADING PSCYCHOLOGY ! PROCESS OVER PROFIT

Trading is like smoking. It has the same addiction, the same dopamine. The dopamine, yes. The same addiction, dopamine, to smoking. Don't you remember the last time you blew an account? I don't. Why? Because I have a procedure to follow. Those processes will actually make me profit. You mentioned clearly about journaling. And I want to understand. I've heard many people say, you know, Other than journaling, I meditate, you know, to help me build mental resilience. I don't know, do you have anything else, you know? tools or, you know, practices that you do Other than journaling, what else helps you? It's been a pleasure. My name is Presenter Ali. Your entertainment PRA is always amazing. All the time. And it's wonderful when you have stories to share. And of course, we've grown so much. And we've had a good community of people who are interested in forex trading And many people have been telling me, you know, Ali, We need you to talk about trading psychology. That's why today I've come to talk to the anonymous forex trader, called Abdullah FX. And he has come here to enlighten us. And talk to us about trading psychology. How are you doing? Alhamdulillah, I'm fine. How about you? I'm doing really well. So people loved your first interview. How did it go? It was good. Praise be to Allah. Okay. Today, we're going to talk about trading psychology. And I want to know, what does trading psychology mean to you? It's an important aspect of trading. And it's a part of trading that no one talks about. People usually talk about technical and other aspects of trading and fundamentals. But they usually do not address or concentrate on psychology, That is why it takes time for people to truly master trading. and for people to become profitable. Okay. And you've talked about, you know, sentiments. You've talked about fundamental analysis. But I'm really interested to know, How important is mindset when you compare it, you know, with a technical or fundamental analysis? To be honest, it's the first... Okay. If you give them on a percentage basis, You could say that psychology accounts for 90%. over the technical and the fundamentals. Yes. Because you can teach someone the technical part within a few months and the essential aspect of trading within a few months. What actually makes money. Okay. And the goal is not to make money. The goal is to keep the money that you have already made. Yes. Okay? Okay. So you have to have the psychology in order to actually make the money And keep the money in your account. Okay. So it's important, then, the psychology and the technical aspect. But it's not that easy. That's why people actually focus on the technical and fundamental because those are the easy ones. Those are the comfortable ones. Mindset is crucial, and it's the hardest one to truly learn. Absolutely, yes. Okay. I'm also interested to know, You know, in your trading game, what is one mindset shift, you know, Has that changed the way you trade? Okay. Getting attached to the outcome. I used to think I could control the outcome. I used to think that I could control the outcome of one particular trade When I have learned that I don't need to control anything. I just need to get myself under control. And I just need to master myself. That's when you can actually create something. Because in trading, it's not about controlling the outcome. Okay, it's controlling what you have. The process. The system. You, yourself. That's what you can control. You cannot control whether tomorrow will be a rainy day. Once again, you cannot control whether you will win this trade or not. Yes. So I focus on the wrong aspect of trading. So sometimes while trading, You know, when you're winning, You tend to be confident. You tend to have greater self-worth. But when you start losing, It might start affecting your self-worth. How do you separate your self-worth from your trading performance? Thank you. Okay, my self-worth is not tied to a single trade. Okay. But before you start, You think that when you lose, You feel worthless. You feel that you are not someone who earns money. You are not someone who is good. And you see other people who are making money. And when you lose, you feel worthless. And when you win, you are untouchable. No one can touch you. You are the man, the legend, the myth. You are him. Right? Yes. And that's a dangerous cycle to be in because you are not trading. Right? You are not trading for money at this moment. And you're trading away your self-worth. Yes. Right? Your identity is linked to the outcome of something you cannot control. Yes. So, once again, right now, My one trade does not define who I am. A hundred trades do not define who I am. I just trade for a process. And the process will generate the money. Wow. I am not my trades. I am not my losses. I am not my profits. I'm just the guy that's sitting in front of you. Yes. When talking about trading psychology, you know, we can never, you know, stop talking about emotional intelligence It is essential. And I want us to look at it, you know, In a few. So, let's talk about the hardest emotions that, you know, you feel like most people are hard for most people, you know to actually manage And also, you can also tell us what has been the hardest emotions for you to manage while trading. Shame. Okay. Shame. Feeling shame after you have Lost. But, You knew that the loss was avoidable. You knew that loss, You couldn't have made that loss. if you had followed your process But you still followed them. due to ignorance Not because of anything So, that feeling, of feeling shame, That's the hardest. That's the hardest. For you or for most people? For most people. Because, you know, when you lose, You are going to your room and you are going to sit with yourself. You will feel shame. that you have lost. You will feel shame for what you have done. Wasted a lot of time. Yes. That shame is what actually, you know, That's the hardest. I think fear and greed are normal Other things are normal, but shame It's tough. And how do you handle fear? and greed, you know? Mostly when it comes to high-stakes trading Because, I mean, Sometimes when people say high risk, high reward and you're looking at it like If I take a higher risk, I will make more money. You know, and it comes out sometimes as greed. How would you advise someone to handle greed? First of all, when you are trading Really, I'm not talking about these influences. When you are trading real, there is no such thing as high-stakes trade There is no such thing as high stakes. One trade, if You let one trade carry the weight of your account, There's something wrong with you. There is something wrong with your strategy. There's something wrong with you. and there is something wrong with the way you take risks or the way you manage them the risk Okay, there is There is no such thing as a high-stakes trade. One trade has followed the process and you have to risk one percent in every transaction. Yes. The other thing is fear and greed usually comes when you become attached to the result of a specific trade. Yes. You are afraid that you will lose. Let's say the price has moved. You will be afraid. The price has Moved in your stop-loss way. You will be afraid. that it will hit because you are too attached to the outcome. When it moves toward you, you are Happy because you're too attached to the outcome If it comes your way, you want to Move a little bit. You want to get a lot. When it moves when it is in drawdown, You want to move your stop lost a bit lower because You're afraid that you don't want to lose. Yes. Having fear or greed is linked to having attached to the outcome of a specific trade. Looking at a winning trade and a losing trade, of course trading psychology is normally at that It is very key when you when you are winning and when you are losing. Let's talk about a good mindset when losing and a positive mindset while winning. Can you compare The two? A good mindset It is to be normal regardless of everything. That's a good mindset If I give you in a simple form. But when you are winning for example, let's say you have Won 5 trades in a row. Which is possible? You can win five trades in a row. You have won 5 trades in a row. Which one of them resulted 2.5? So 2.5, 2.5, 2.5 times 12.5 You do the math, right? You win. That's a lot of money. Right? Yes. But that's a dangerous cycle. To be in, right? Some people may ask How is it dangerous? You're winning. How is it dangerous? Because you're winning. It's dangerous. because the ego within yourself I will tell you that you have figured it out. You are the legend. The myth. It will tell you that You know everything about the market right now. You will become overconfident And then you will risk more than what you wanted And you will lose more than what you... And it's easy to get over you your rules because the ego told you that you've figured it out. The ego told you That you're the man, the legend. Right? So it's a dangerous cycle. Losing... Losing, again It's not something That's bad. Okay? It usually involves Pain, but pain is good. Pain is good in trading. So when we get losing streaks the mind... First of all, the mind is not designed for trading. Our normal mind is not designed for trading. And eventually It's not designed for success. That's why you will see that success usually goes to people who have changed their mindset or who have changed their mindset. So the mind is not designed for success in trading or for success in any undertaking of any industry. It is designed for survival. So when it loses, it usually links it to failure. So when you lose, You think that you are a failure. You are... You are not someone who thinks It's better. And eventually, and eventually when you are on a losing streak, the brain I will tell you to fix things. It will tell you that something is wrong. That's an ordinary human being. If you have seen something has failed, you think you're associated with something that is wrong. Let's say you lose money. You associate it with... Okay, something's wrong. With yourself? Yeah, with yourself, with my strategy, with my system with my process. Okay, and that's A dangerous cycle to be in. Okay? You don't need to fix anything. You just have to follow your process over some period of 100 trades. The outcome will generate the profits. The process will generate profits. Do you understand me? I get you. So you don't have to be emotionally attached to a losing streak and you don't have to be emotionally attached On a winning streak. Just act like a normal guy. Wow. Whether you win Or you lose, you're just ordinary. Just be normal. It's really hard to master that. Absolutely. It's not something that's Easy. It's not something that's comfortable. It's not something that everyone can do because you can't You're telling me to be normal. When I'm losing. How can you tell? What about you? It's tough, but That's what makes money. That's what makes the money. Yes. Speaking of losing streaks, because most people and most traders normally have those days when they're winning and the days they are losing. Speaking of losing streaks, have you ever found yourself a revenge trading, and how did you overcome it? Revenge trading is something that you start When you're starting out with trading. It's something you have to experience firsthand. It's something you have to experience firsthand. The pain with it. Actually, revenge trading is not trading. at all. It's fighting with the market. You're fighting something that you cannot control. It's like fighting. With the weather. You cannot control the weather. So why fight against it? It's something you cannot control. You're fighting against something you cannot control. So why should you fight against it? Actually, how did I overcome Revenge trading? I write everything. I journal everything. I insult myself. I told you that. I don't want to feel shame. I hate feeling that. Shame. Revenge trading usually brings shame. When you go to your room and you're all alone and you have forked out from the desktop You feel shame. You'll feel like, why did I do it This? Why did I do that? So, I Write everything. I insult myself a lot. I write everything. I journal everything. And that's when I actually See progress by writing Let's talk about discipline. routine, and consistency in a bit because I think It would be crucial. to look at that for someone who's trying to master them trading psychology. Tell us a little A bit about your trading routine And how has it been? of impact on your trading psychology? Good question. So, usually when I Wake up, I don't just go to the chats. I don't open chats on my phone. I don't do anything like that. I pray. And I just talk to myself. I just write everything. down, how I Feel before trading. I write everything. And then I come to the chats with a clear mind, with clarity, with a mind that has clarity, with calm mind, with a mind that's focused on the process, not on the outcome money. Let's say, for example, you you're waking up and you think that you want to be profitable and you want to make money because It has been two weeks since you didn't Make money. That same day will be the day that you have cloned up the account. So, every Day, come to the market. with a focused mind with a calm mind, with a mind that has clarity. Wow. And maybe, what practices would you say help you stay consistent and avoid impulsive decisions? Because We have people who say, you know, today I want to place two trades and then They place one, it works. They place the second one, It works. And they want to place the third. one and the fourth one. How do you avoid that? And do you have, you know, any practices? that you've had that have helped you? You know, just stay consistent with those routines. Okay. Being consistent with one particular thing like following your process. Again, it's a psychological matter. It's not something that's easy for everyone. But you have to have a solid plan a mechanical trading plan, a mechanical trading system that you have to follow every single day. And for you to follow that process, you have To have the right mindset. Do you understand me? Because if you don't With the right mindset, it's easy for you. to get rid of that one and replace it with something else. And when that thing doesn't work, you'll Replace it with something else. It's called the cycle of doom It is written in a book called Naked Forex. That's what it's called. the cycle of doom You get a good strategy, you trade it, and then It makes you money, so you are happy. And then it gets into losing, which is absolutely normal because every strategy fails. And then you lose. And when you lose, you're linked to the strategy. And then you change the strategy And then you get it. It's good, it's losses, Then you change it. So it's a cycle of doom. Do you understand me? That cycle of doom will make you lose your consistency and everything. So that's how I do it I have a process. The way I've told you that I have to come to the market with a focused mindset Every single day. Do you understand me? I have to Get into trading with a focused mind, with a mind that has clarity, with a calm mind. Okay? So that's What I can say. Okay. And maybe there are days that It is very easy to maintain discipline. in normal markets. But sometimes now when the markets are volatile, it is So hard. Some markets are emotionally charged. How do you maintain discipline? In those days? A simple thing. It's easier to say but hard to follow. I can bridge every single lay. I can bridge, you know, what I'm I'm going to say, I can bridge it every single layer. But it will be difficult for someone to follow. It's so simple. Walk away. Walk away. Walk away from trading. Walk away from the chats. Walk away From everything. Do something else. Touch the class. Wow. Touch the class. See this life beyond the chats See that everything else exists. Don't get addicted to trading I usually associate trading with smoking. I usually say to the people I mentor, I tell them that trading is like smoking. It has the same addiction. dopamine. The dopamine, Yes. The same addiction dopamine to smoking. When you are smoking, You don't know anything about the other thing that exists. You just know that. You just want that. edge. You just want to feel that pleasure. You just Want to feel that lizard brain. And when you are trading, All you want is to make money. Right? And that's an addiction. Right? For you to walk away, it's like resisting smoking Can you resist smoking when you're addicted? to smoking? You can't resist it because you are addicted to smoking. Right? You can't Say, I don't want to smoke. with this edge. When that Your brain wants you to feel it, when that lizard brain wants you to feel it, You cannot resist it. It's like that. You can't help but walk away. That's true. You cannot resist. You see the market moving. You'll be like, ah, I can be in. I could be in. I should have been in. Right? I can make money. through this Fertile market. Right? But Eventually, you will lose. a lot and you will become addicted to trading and then time will pass and then you won't see any progress or any profits. Okay. You mentioned clearly about journaling and I want to understand I've heard many people say, you know, other than journaling, I meditate, you know, to Help me build mental resilience. I don't know. Do you have any other, you know, tools or, you know, practices other than journaling that you do Help you? Talk to yourself. Talk to yourself. Sit somewhere alone. Talk to yourself. It's not madness. People will associate that when you speak to yourself, it's madness. Yes. It's not Madness. Go somewhere. Otherwise. Talk to yourself. Go somewhere. Alone. Talk to yourself. And don't lie to yourself. Okay? Don't lie to yourself. No one is hearing. You. Tell Be honest with yourself, even the ugly stuff. Yes. Even if you Want to insult yourself, go ahead and insult. I insult myself a lot. Yeah. You get me? And that's what makes me, you know, progress In life, right? Talk to yourself. Talking to yourself is like having another one having someone else that, you know, accountability. It's like accountability. You have an responsible partner, right? So, talk to Yourself, right? Talk to yourself. Yeah. Okay. Let's go a little bit further. something you mentioned earlier that really intrigued me. You mentioned the word process. And Sometimes the process does not really means that you are making a profit. It can mean that you are making Progress but not profit. What does process over profit means to you in Real trading? Good question. Process over profit is something that I have to hold on, no matter what. Because, you know, people usually associate profits from controlling market or people usually associate profits with having The best strategy. You know, when we did the last interview, People came to me. And everyone was asking me about the strategy. Everyone was asking me, what's your Win rate? What's your strike rate? Can I Win big with your strategy? If I study for one month, Can I be profitable? And I usually don't work with those people because It's a headache. I cannot Work with those people who have that. the mentality of saying that We have to associate profits with a certain period of time Or, you know, or having that expectation that in order to win You need to have a high win rate. That's not Absolutely the truth. So, process over profit is something that's actually So big to me. But usually people Don't understand that profits are made up of process. When you follow the process, The profits will be consistent. So, once again, Your goal is not to make money. Your goal is to be consistently a profitable trader You need to be a profitable trader. consistently. Not one day not two days, not one week, Not six months, not one year. Okay? Consistently. Right? Over a long period of time. Over a long period of time. You have to be consistent. The last time that I have learned about the account, It was two years or three years, I don't remember. It was a long a while ago. You don't remember The last time you blew an account? I don't. Why? Because I have a process. to follow. Those processes will actually make me a profit. And let me tell you one thing. I can... One second. But it does not mean that there are no the days you don't lose. It means that there are days you will lose, but you I'll stick to your process. Exactly. Wow. Exactly. So, when In fact, you know, it's easy for me to say that. You must follow the process. of other profits or It's easy for me to preach, but ordinary The trader guy won't You know, it won't get through to him. He will think that This guy is saying something. Nonsense, right? Something's wrong. Because we came here to Make money. To win. Make money. Right? And if one hundred percent those people who want to trade a hundred percent, want to make money, and yet 95% of people lose money. Why? Because they share the same goal. to make money. I'm not here to Make money. I am here to follow the process. That process will generate the profits. Yes. Yeah. I've spoken to many people who are into trading. and when they have done Trading for a long time, there's one the thing they normally tell me They've reached a point where They're even bored. You know, They're even bored with trading. They're not as excited as they I don't know. Do you think there is a role that Can boredom play a role in your trading? Experience. Being Just grow up. You just grow up, you know, through being, through experience, Through everything, right? And to be honest, I can Say one thing. Even I don't I feel excited when I win. Compared to when I was starting out. Yes. And I don't feel the addiction to trade every single day, Right? I just follow the process. XYZ My process, I just follow the process And that's it. The money will come eventually. You cannot control the money. If you Force the money, and the money will flee from you. Don't force it. Don't force the money. Don't force the money. The money will eventually come. It's like, you know, when you want to catch a cat, Don't chase the cat. Have something it loves. What does the cat love? Maybe milk, fish, right? Darn it. Have those things around you. It will come to you. The money is like that. The money is needed a mindset that has clarity, that is calm. And When I talk about that, you know, sometimes you will see people who They have money, but they don't have the mindset. I tell them that God bless them. Yes. Wow. Okay. I understand that. And let's talk a little bit about, You know, dealing with losses and the pressure that comes with it comes with it because for you to to be able to handle that, you need to have really Really good trading psychology. For instance, let's use you. For example. Tell us a little bit about a major trading loss that you've ever had and how You overcame it. Okay. I suffered a loss. in a week My biggest loss was in a week It wasn't because I liked the technical. I knew the technical, but It was because I couldn't control The shame within myself. Yes. I couldn't control the shame within me. Yeah. Right? And when you come to the market, it's not you who faces the market. You don't have to fight the market. You just have to fight with your inner thoughts with your inner self with the lizard brain within you because the man that you are right now is not the man who you Used to be, right? And that brain has the same brain. with the man you used to be or has the same brain as ancient times Again, The brain is not associated. It's not programmed for Success. It's not programmed for trading. Success. It's programmed for survival. So it will make you do anything Just so you can survive. Okay? It will do anything just to ensure your survival. And the things that it will do is something that will make you lose It will cause you to lose in trading. What advice would you give someone? Who can call you? Right now, and tell you, you know what? I just blew my account. I am emotionally disturbed. I'm not happy. I am so sad. This trading thing isn't working. for me. How would you advise someone who Just blew their account a moment ago? I can say something but the question is, Will they listen to me? No, because they are So emotional. They just want someone to Confirm their piety. They are seeking sympathy and they are looking for someone who will Make them feel better and confirm their piety. For example, their piety They are looking for someone. to tell them, Okay, it's okay. Buy another one. Go. But when they come to me, I won't tell Those ones. I will tell them that. It's okay. Feel the pain. Feel the pain. Ask yourself. Go Talk to yourself. Go somewhere alone. Talk to yourself. Ask yourself, why did I do that? Why did I blow my account? Feel the pain. If you don't feel The pain, it's easy for you to make that mistake again because You won't associate that mistake With a pain, right? So, you have to associate Every mistake you make, you have to associate it with pain, right? Pain within You. Do you understand me? So, feel the pain. Don't Buy something else. No, no, no. Don't go anywhere, buy another challenge or Buy another account and fund it. No, my brother. Okay, if you do that, what's The difference between you and the gambler who gambles on sports, sports betting? Yes. What's the What is the difference between you and him? Then you are just Don't buy anything else. Just leave Everything, feel the pain. Do you understand me? Feel the pain, understand yourself, understand why You did it. Understand how I did it. and you know, make everything right and then come back to something, Come back to trading and buy it. But again, as I have told you, They are so addicted. and they will go and buy another nicotine or they will buy another cigarette. They will buy another cigarette. So, once again, they'll buy another account. They're so addicted. They'll buy another account. Fund it. blow it Go, buy it. It's a process. For example, Let me tell you, like someone who is addicted something else, let's say something else pornography, for example. Those people, when they do it, when they are doing it, they are pleasuring themselves, they feel Good, right? And when They are done, they feel bad, shame Why did I do it? And then, when that shame leaves, They will do it again. Right? It's a cycle. No matter how much You tell them, and they'll do it again. So, again, that guy is addicted to blowing up accounts. So, they blow up. the account. When they explode, when they blow up the account, He doesn't ask himself, why did I do it? He doesn't want to feel the pain. He will go out, he will Say, what did I do? He will feel it. shame and then go out, buy Another one, he'll feel the shame, blow it up. You know, cycling. Wow. Wow. A cycle loop that will never end And I know It's very easy to be accountable. when you're winning. You know, you say This week I've made $1,000, last week I made $2,000 and you can be held accountable for each trade. But it's quite difficult to do the same. during tough times, you know, when you have losing streaks. How do you Personally, you know, stay accountable during a difficult time? Right. Talk to yourself. Simple. You know, simplicity is what makes simplicity what makes the process look Beautiful. Yes. Simple. You have to have a simple process. You have You know, to do it, you have to do everything. In a simple way. Right? Simplicity. Just write. talk to yourself. Write the Ugly stuff. You know, people when they write They will say, you know, someday someone Maybe you'll read this, so let me write something. Good. Right? Yeah. Don't think that. Once again, do not prove anything To anyone. Okay? Don't prove anything. to anyone. Your outcome is what you have done. Not something, you know, Again, people, you know, Look, tend to seek validation. So, Write the ugly stuff. Talk to yourself. Write the ugly stuff. Talk to yourself. Understand yourself. What happened? Why? What happened in those losing streaks? And the question is, Did I follow my process? Did I lose or did I win? And once again, I have told you that you must have a normal mindset, a normal mentality. You need to ask yourself, did I Follow the process? And that's the question that you need to have. Did you Follow the process? If yes, Then that's okay. Okay? You don't have to worry. about losing. No. As long as you followed the process. Absolutely yes. You just you know, a simple process that you follow every single day. Wow. The profits will eventually Come. And I'm promising you, That's the only thing I can promise you. The profits will come eventually. But if you tie it over a period of time, for example, let's say I will follow my process and then this month I want a certain amount. You have already Lost. Yes. So what you're telling me Is it just that I have to follow? The process. I don't have to worry about the outcome. Yes. You don't have to worry about the outcome. You just have to follow the process. The process will eventually make you money. That's the only thing that I can I promise you right now. Okay. Let's talk a little bit about being self-aware and, you know, that is self-awareness and growth. What has helped you become most emotionally self-aware as a trader? What I usually talk about psychology and for you to have a better psychology or a better mind game. For example, let's say mental game. So that you can have a stronger mental game You must have self-awareness. Yes. But to be honest, Most people don't know, they lack self-awareness. Right? Because self-awareness is what actually makes You know, For you to understand. It's what enables you to understand. The emotions within yourself. Yes. It's what enables you to understand It's what makes you understand. why did you do what you did or how you did it What you did, right? So having self-awareness is better because to walk away, you have Self-aware, right? For you not To risk, you must have self-awareness. So that you may not trade, You are self-aware, aren't you? Let me tell you one thing. Self-awareness will help you when the emotional part gets Hijacked. Yes. Right? I mean the thinking part of the brain gets hijacked by the emotion part of the brain Yes, yes. Right? For example, you have heard the term Don't make promises when you are Happy. Yeah, yeah. Do you know why? Do you know why? No. It's because the mind is when you are thinking a part of the brain gets hijacked by the emotional part of trading. Yes. By the emotional part of the brain. Every decision that you make will be associated with the emotion. And let me tell you something. Emotionals fail. They will disappear. So when you are happy, Tomorrow you will not be happy. So when You make the promises, today based on the emotion that you have felt What is happiness? That decision will have an impact. on your life, on your ordinary day when you are not happy Do you understand me? Do you understand? I get it. I get it. Understand? Wow. So, don't make decisions when you are emotional. And having that self-awareness will help you not to make decisions when you are Emotional. Wow. So it's better for you to have self-awareness. And it's a journey to build up. It's not something you have to build up Months or weeks. No. No, you don't. Wow. And I'm interested To know, did you ever have a mentor? Who helped you with your psychology? Yes. An old man who was Around 60. Who was training? for more than 15 years And how do you reflect your technical performance and emotion performance after each training? Because sometimes it's hard to truly distinguish them. Like getting to understand how Am I reacting? to my emotions being associated with my win? Or Are my emotions being associated? with the strategy that I took? How do you reflect both on your technical performance and your emotional performance? Once again, write both of them. Write the emotional part and write the technical part The technical part, You know, let me tell you one thing. There's a journey to this game. Okay? There's a journey to this. game I wish I had known when I was starting out, but when you are starting out, It's so simple. Right now, trading is Like drinking that water. Drinking water Is it hard for me? Is it hard for me to drink water? No, right? It's like that. It's so much easier right now. Right? Because I have I have mastered myself, and I have mastered psychology. and the mental aspect of trading. I cannot Say master, but I know 70%. There's A lot that I don't know. And I will learn. So, trading, for example Write everything. Write the emotions. Write the technical section. and what I will say is that, Write the emotions better than the technical, because the technical aspect, when you are starting out, There's a journey. Let's say, the technical part, You study for one year. For example, let's say you study for one year, and then you get a solid trading plan, a solid system, and a solid process. So, you need a mindset that you can have to stick to that process. Do you understand me? So, once you have a a process that is solid that is better, focus on the psychological aspect of trading and write everything down Write everything down. And It's funny because everything, everyone thinks that in order to succeed in In trading, you just need a strategy. Let me tell you a funny story. Do you know that the Christians, when they are young, they believe Santa Claus They believe in Santa Claus. But when they grow older, They don't believe it. And it's actually associated with trading because When people are starting out, they think that trading, you can master trading within seven days, or you can master trading within one year, or within one month, and They all think that the The only thing you need is the strategy. So, when the children who believe in Santa Claus, They believe a lie. Right? They believe a lie. So, Santa Claus doesn't exist. It's a lie. Right? They believe that lie. So, when they grow older, They sacrifice that lie and ditch it. Why? Because they have seen the truth. They have matured. They have seen. The truth. When people are just beginning to trade, They think that they only need strategy for them to Succeed in trading, right? So, you only need A trading strategy. That's a lie. Let's make it a comma. That's a lie, right? So, people will believe that Liar. Do you get me? So, they believe that lie. Okay? So, they are like those children. But they will eventually grow older and Understand that you don't need just a strategy. Right? Imagine if a young child who believes that Santa Claus exists. and he believes that throughout his entire life until he reaches 60. That's a bad thing for him, isn't it? And in trading, if traders think that they only need strategies, then As I said, it's Santa Claus. effect. You only believe you have only attached to a lie that does not exist. And I've seen so many people saying that Abdullah, I want you to teach me. And I say to them, Okay, no worries. I will teach you. But it's tough. It's not something that lasts one month. It's not something that's one Year. It will take time. And eventually, I promise you that you will get the fruits of the tree that you have planted. But they say, it takes one Year. No, no, no. I want one week. Yes. Why are you getting attached? to a lie that You know it doesn't exist? Why should you Get attached to the Santa Claus lie? Yes. Wow. Thank you so much. That has been quite an insightful conversation. And before we wind up, I really Have love to have You talk to a few aspiring traders about trading psychology. Maybe, if you could go back in time As a beginner, what did you Tell your beginner self about trading psychology? You don't need to prove anything to anyone You are yourself. Be selfish. Learn everything about yourself and don't Prove anything to anyone. You know, when we are starting out, when we are young children, we tend to look for validation For example, when we are When I was growing up, if I did something good, You go to your mom and tell her I did that. Ah! Bravo! You did well. Right? And you tend to grow up with that And then, Eventually, that validation will be within yourself. So, when you come to trading and You make money, you will Go online and start chatting. Talk about it. Talk about it. Tell everyone. Show people. I have made this, I have made that. You're looking for validations. Yes. Right? So, you don't need to prove anything. To anyone. Just trade silence. Trade quietly. Make your money. Help people. Go with your life. Would you say that is one? common trading psychology mistake that you see beginners Show off? Yeah. Showing off is something that or seeking validation something that is attached To the ego. Right? Yeah. Once again, I will tell you that looking for Validations are the worst and dangerous thing to do Right? Because you will never, ever make people, you will Never, ever please people. Okay? People won't validate you. No matter what you do. No matter how You do it. No matter. Anything that you do. People Will never, ever validate you. Wow. Don't seek validation. Look, you need To have one goal. You need to have that. Am I better than I older self? Yes. If you are Then that's good, right? Am I better? Better than mine yesterday? Yes. You are. Then, you know, work. Right? But if you again, validation will be associated with comparison And let me tell you something. Comparison The thief of joy. Yes. It will steal your joy. It will steal your happiness. Don't compare yourself to anyone. Right? Be selfish. Think that No one else lives in this world other than you. Yes. Right? And you know, First help yourself. Reach yourself somewhere and then it will eventually come. And In the last interview we did, I told you that my first two years I knew about the technical aspect. It was easy for me. to become someone who sells classes or courses It was easier for me. But the truth was that I couldn't make anything out of that. technical part or that Information I used to have. Yes. Right? I knew everything. Okay. Eventually, I knew everything. I'm telling. You. I knew everything about the technical part. But I couldn't make anything. Do you understand me? Yes. So, it was hard. For me. It was hard for me. And my reputation. wouldn't let me tell people to validate me or to let people know that I offer classes just to teach them the technical part Of trading. Yeah. Okay? My reputation wouldn't permit me that. If I am about to... Let's say, for example, in the future If I say that I will be selling classes, for example I have to Teach that person. to be a profitable trader Okay? To be a profitable trader Not someone who learns the technical and then I say, Figure it out yourself. How? Thank you so much Abdullah FX for that insightful conversation. I do hope that if there is anyone who is watching from wherever in the world that you guys have got some amazing tips about trading psychology. This is one conversation that many people get or tend to run away from but we decided to have it right here with our anonymous foreign exchange trader. And Thank you so much for coming. Thank you so much, everyone. for watching. My name is Presenter Ali, your entertainment PA. The A is always For amazing. Please do comment down below and tell us if there is any Forex trader that you believe that we should bring on our channel Also check the links here in my description. That is the broker that I personally recommend it. That is Windsor Brokers. This is Presenter Ali, your entertainment. PA. I'll see you guys in the next video.