Mindset Trading Yang Perlu Ditanamankan || Trading Mindset Which Must Be Embedded
Don't only stick to our opinion 'It wants to rise, it will be around this' When it goes down strong, it still survive People who don't want to do correction will be like that. They only think that it will go back *Opening Music* Well, good morning Mr. Ismail "Good morning, sir" Can you hear my voice well? "Yes, I can" "How about you?" I can hear you well, sir. If you face problem, you can ask me directly later "Are you healthy?" Actually, I feel not too fit but that's ok. Because this is the schedule of the class. I wish I can be strong Pray for me. I wish I can be strong until next week "Don't force yourself" Yes. But I can still control this
Well, we'll start the class slowly. If I'm weak, I try to take a break. I'm sorry if the class won't up to 1.5 hours later We'll see the condition later It will reduce the material that I'll explain Before I start the material, I want to ask first. What pair that you use? "Since last night, I use XAU" Well, if you use 1 pair, please focus on it first So that you'll master it in detail. Master the character I'll start this class. Please turn off your microphone. If you have question, you may turn it on To start this material, I'll try to give you general overview first. So that you won't apply it wrongly in Trading First, I want to explain trading mindset first Trading is business Long time ago, we exchange the money conventionally. Now, there is technology. So, we can do transaction by online
and by cash. It means that it's paid directly When we get profit, we can withdraw it It means that the money is inside our bank account So, cash isn't only we hold real money but also the money inside our bank account is cash Because we can withdraw it whenever, wherever. What's mindset that we must have before we start doing trading? So that we won't be wrong Trading isn't a game nor gambling Because, if it's gambling, we just hope to get profit For example, about football. In football betting, it's gambling. There is no thing that we use it as transaction
If it's in trading, there are pairs. Like XAU-USD There is thing that we exchange If it's football betting, there is no pair For example, I support Brazil Brazil vs Italy is 1-0. There is no thing that I do for transaction There is no transaction. I just guess it. It's also same like lottery gambling I put 1432 numbers (for example) It's 10.000 There is no thing that we use for transaction there That's the difference from trading business So, we must know the character of each pair How's the character of XAU? How's the character of USD? It's also affected by Economic development, Geopolitics, and the development outside the country Not only in a country, but the impact is global We must learn and understand these kinds of condition That's the difference to gambling In trading, there is analysis from economic and geopolitics side It's different from gambling Then, what's the mindset if we want to be professional trader? First, understand and learn to focus on process, not on the result The process to understand, learn, and apply the trading system To get right trading system (match with our character) Then, suit and cozy To get right, suit, and cozy for ourselves, it needs long process We can't master all of them in 1 month and can get consistent profit That's nonsense If we can get consistent profit in 2 months, don't be proud first! Because it's not professional trader Because professional trader is forged by process and time There is process and time. Process takes time.
and we must pass all the steps Since we get loss, do trial and error, practicing continuously until we find trading system or the SOP There is no standard for trading system Because there are many traders from all around the world There is no 1 knowledge about trading So, we must learn a lot and find the trading system that match on us I'll teach you the step by step to find the system What must be mastered first? after that, we'll find the right, suit and cozy system Maybe every trader will have very different trading system Same way but the result will be different So, learn to focus on the process. Don't only think about profit That's the first thing If you have the system, run it If we only focus on the profit, when the market hasn't qualified the rules yet, we'll order it directly We'll get long minus floating if we take order in a hurry If we don't know how to solve the long minus floating, we'll give up we'll do cut loss or even we let it moves First, learn to focus on the process Just follow the process. If you face problems, ask me The most important thing is we apply the system well I'll explain how to determine the trading system Next to the second mindset If we want to be successful in trading, don't be a fortune teller Don't be a fortune teller in the market. Because market is controlled by market players Market players are global. All of them have different importance So, sometimes the market can moves fast and slow That's why, don't forecast it The point is don't reject sustenance When we do simple analysis, the market qualify the rules, we take order and get profit, we close it.
Don't reject sustenance We don't know whether the market will continue to rise or no So, don't be a fortune teller The main thing is always do correction Always fix the fault When our analysis is wrong, do correction directly There is no 100% valid analysis A professional trader also can't read the analysis absolutely The market direction can't be read absolutely What we do is read the probability from the history We read the biggest probability If we read the biggest probability, it could be wrong We must realize it. If there is fault, we must fix it Don't only stick on our opinion 'The market wants to rise. It will be around here' When it goes down strong, it still survives People who don't want to do correction, they will stick with their opinion. They believe that the market will go back If the market reverses, there is no other way except doing cut loss Cut loss. Finish it. Follow the running trend Don't only pray and hope Our floating will be longer if we just stick on our opinion without doing re-analysis and correction Market can't be read absolutely So, don't look for valid, accurate, and absolute analysis What we do is only reading the probability. The closest probability
And we also must do it with well risk management Now, the third To know the concept and the trading mindset Look for simple technique Because simple technique is easier and faster to be done rather than using complex technique Which the look is good but we can't keep our profit It means that we can't be consistent in getting profit Because the analysis is too much If we see the display, it's full of colors! Looks like a professional trader Meanwhile, it makes us feel more confused 1 indicator direct us to rise, another indicator direct us to go down 1 indicator strengthen the Buy, another indicator strengthen the Sell We'll feel confused So, look for simple technique Because simple technique has amazing power Then, fourth, in reaching Successful trading, we need process Process takes time Don't want to master it directly! Don't do it using real account directly! We must learn and practice it a lot. Use Demo account first Don't be allergy to Demo account. Because we explore our skill in Demo account by practicing the technique We practice it until we found easiness and consistent profit consistent profit doesn't mean we never get loss but we're able to do recovery well I'm not proud when your analysis is always correct (always get profit. Never get minus)
I'm not proud Because it could be lucky factors What we analyze is still supported by friendly market One day, there will be reversal extreme market When the market reverse and we can't do recovery, our budget will run out That's why professional trader doesn't always get profit. They also get loss too At the end, they get profit If they can't get profit, at least, they can decrease the loss Sometimes, the market is hard to be analyzed So, we do wrong analysis. When it's wrong, we try to do recovery Not getting profit but at least it reduce the loss. But, it's bonus if we get profit
Sometimes, it's hard. We've faced it If we still don't understand, we still learn and try it continuously Until we find the easiness point When we analyze it, we can get profit. When I do wrong analysis, I can do recovery well and ended by low minus or still get profit That becomes our standard About the first point, it was Focus on the process Like what I said, it's related to trading technique, Emotion control, Not over profit, Always be discipline Be discipline in applying the rules and trading systems If we use 1 trading system and we assume that it's the best, so, we still use our own trading system Don't use another trading system If our trading system always changes, we'll feel confused That's why, you must learn to be discipline! If we don't find the best trading system for ourselves, learn and practice it a lot! The first is technique, emotion control, not over profit, and be discipline in using trading system Those are the trading mindsets that must be embedded Then, we'll start the material later to be continued...