Why trading seems hard? | At the Table by Urban Forex Ep.009

Why trading seems hard? | At the Table by Urban Forex Ep.009

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all right good morning good evening good  afternoon welcome to another episode of At The   Table by Urban Forex now in this episode we're  going to be talking about why do many traders   fail and what are the common traits of what  causes the failure so on the panel i have with   me today armand lucas and ian hello guys yep yep  so we're gonna be hearing from their experiences   some of the traits that they have seen some  of their own personal experiences and being   on urban forex and going through you know dealing  with tons and tons of students on day in and day   out they're also going to share experiences that  they've seen outwards as well not just inwards so   it'll be a great recap on that so many of you  guys are joining in live into this podcast as   we're recording it so let us begin so why do  you think many traders fail and why is this an   important topic why is it so hot such a hot topic  and why do we have so many people registering   to come to this webinar which we're going to  be holding right after this podcast okay and   by the way those of you guys who are tuning in  and listening in the link to watch the webinar   itself that we're going to do after this podcast  will be below in the description so so yeah   you know bringing that question back up why do  you think this is such an interesting topic and   what is it about this topic about traders failing  because i think everyone fails in their journey to   become a good trader there's no one who was like  yeah i was a smooth ride no failures whatsoever   and i made it everyone has mistakes and failures  along the way but it doesn't seem to look like   that though on on the social media right it seems  like everyone's succeeding yeah but which which   part of social media is ever realistic oh well  well that's true that's true so you're telling me   all the girls on my social media profiles they're  all they don't look like that they probably don't   even exist they're like computer generated  probably just a bunch of men you know just all right all right lucas what about you what  is your experience with why do many traders fail   i don't know actually there's like tons of reason  why that happens but i think one of the most   common mistake at least from my personal online  experience was when i first started i started out   you know writing down a plan okay first three  months i'm gonna study real hard with urban forex   and learn everything i can learn second the second  phase the second three months i'm gonna start demo   account trading and then after that i'm gonna  start live and then i just go live for one or two   more years by then i'm gonna be you know making  banks sitting at the beach trading with ghosts i i can see where the dream is actually headed you  know back to the girl back to the girl topic again it's not about training at all now i realize all the girls we were just talking  about were not real that's that's one thing   and then the other thing is after three years  it's that's just not how it goes man sometimes   it takes just three years to just study the  materials and and then after that you really   you know start to learn how to trade so right  i think all right i think the mistake there was   traders especially beginning traders  they really shouldn't plan out   you know like a university course i'm gonna  do four years of this and then bam i have it   all covered but that's an interesting thing you  say actually about like a university course so   let's say people do take university  courses they get their degree   do all of them suddenly get million dollar jobs  i don't know man i dropped out so i have no idea but but even in realistically if we think about it  like the whole idea is if i go to university i'll   get my degree and once i get a degree i'll get a  nice job they'll pay for my house so it'll give   me a car allowance and this and that like you'll  get all that stuff but many get the degree but few   actually do really well and become very successful  right like i don't see a university saying this   is our alumni we had 30 students in this class  and 29 and a half are ultra successful you know   you know that never happens so  that's very interesting the way you   you compared it to a university and i think it's  even universities have their own realistic data   that we need to also consider and look into it  okay not to mention how expensive a university   is depending on where you are obviously  armand you're from the netherlands you can   you know actually say that the university should  not be that expensive right well if if you're   dutch and you study in the netherlands then  no although things have changed because i'm   it's been a while since i was a student so okay  okay so are they charging now in netherlands well   they they were always charging but  now i think the loan system changed   where i i would get like even while i was living  with my parents and studying i would get like   100 euros per month just like student allowance  but now i think if you want to get anything it's   a loan that you have to pay back and and when  i was studying if you were not living with your   parents or you're living in a city where you were  studying then you would get like a lot more money   even and that was not a loan but now it that  has become a loan okay i understood okay but the   what do you have to pay to university that's still  relatively affordable all right all right yeah i   had a similar experience when i went to college  in the us but it's it's a yeah the tuition in the   u.s is a lot more expensive yeah if you're local  obviously it's not so expensive i was there as an   international student so that's when they charge  you your firstborn and that's okay that's okay   as long as the education's worth it but even the  education i was in university for like seven years   could have taken four degrees different degrees  but i walked away with nothing i just decided it   wasn't for me and that's the road a route i took  doesn't mean it has to be the route everyone takes   i you know we have people in our team that have  phds right so doesn't have to go that route so ian   what about you what is your take on why traders  fail what is it about it ah there's i mean there's   a lot of reasons i think they don't they don't  call it a 95 5 game for for just one reason alone   you know so just to piggyback a bit off of what  lucas said just with getting the education i think   i know from my personal experience when you first  start out there's a lot of options out there   and i mean you can look on any sort of youtube  channel and i hopped i was a hopper if you want   to like classify it as a term and it's like that  looks good that looks good that looks good you try   a little bit of everything almost like in a candy  store yeah but it doesn't really get you anywhere   you know and that's one thing i found that really  hindered me is that i studied a little bit of   everything and really got me nowhere fast you  know off the beginning so i think that's a problem   did you start off with urban forex in your  journey or were you you know somewhere else   before you came onto urban forex no i i was  just like i think like a lot of people like   just your google search i think  is is one of the main things and   you're looking for the best one out there and and  off the beginning you're like like i say like you   see all these different videos this looks good  that looks good and i spent in a short time you'd   be surprised how many different things i tried  right and one piece of advice i would give now   in hindsight because i found her before it's not  too long after you got to find something take the   time and find something that that fits for you  and you feel good with and then stick with it   stick with it and give it a chance and don't hop  around and i think you'll have a smoother path   you know to results that's what i found anyway  would you agree with that lucas what about you did   you actually go directly urban forex or did you  come from a different background i think like ian   i studied stuff here and there in the beginning  and then i you know obviously ended up with urban   forex but you know listening to what ian was  just saying i kind of feel like it's going to   be difficult for you know someone who just started  out trying to look for the right education because   you won't even even right now where i'm a little  bit more experienced i still wouldn't know which   course is like a good course until i truly tried  it out you know for a few months maybe for a year   to really understand so i think back to what ian  just said i think it's important to pick one and   then just you know stay consistent with it and  try it try it out for at least a year i'd say   some something that feels right like i  know one thing like with urban forex that   it just i one thing i'm missing with a lot  of them was like the why and like explaining   like why am i doing this trade and that was one  thing i got with urban forex and that's what like   kept me with it because it's like find something  that's like oh okay i may not completely   understand but i there's explanation behind it  and i can get behind this and stick with it and   work hard with it from the from the thousands  of students i've worked with over the years   it became very apparent that everyone was doing  a little bit of everything but no one knew why   they're doing it you know whenever i bring up  that question of like all right why did you draw   your support and resistance that way there's  no explanation behind it it's just simply oh   because that connects that you know it's just  a very simplistic explanation of but why would   that become support and resistance why would that  level hold you know a simple question like that   traders who've been in the industry for  three four years can't answer that question   and that's when i started to realize okay  well all right well urban forex needs to be   a lot different it can't be your traditional  education because the why is missing people   just don't understand what they're doing  there's a bunch of patterns and stuff right   what has been your background on this i think one  of my main mistakes also comes from that where   when you first start out you want to master it as  fast as you can so you look for shortcuts which it   ends up being indicators or lines that you connect  because you can connect them but if you would just   put in a little bit more work and a little bit  more consistency and then figure out the why   that you see on the chart and instead of you  know looking for for small patterns or or trend   lines or stuff like that then it's actually not  that hard and it doesn't actually take that long   to you know understand how the markets work so i  think that's that's my main mistake trying to rush   things through or trying to take shortcuts  but you can only take shortcuts if you   put in the hard work first i suppose okay so so  that i i i like that because the word shortcut   seems to be on everyone's agenda that that is a  commonality that i always notice amongst every   student that comes by every successful student  has that's ever been with urban forex that   seems to be a common trait that everyone starts  with yeah top ten life hacks right that's what   like forex seems to be the answer it's like  a crystal ball but unfortunately it's not a   crystal ball it's it's quicksand and if you don't  know how to handle quicksand it will eat you   you know it's literally like that would  be the only explanation i can give like   yeah i don't know i don't know how many  bat patterns i looked for in the beginning   every time that i like finally said hey maybe  this isn't the this isn't the way to go so you may   tell me that banks don't do a b c d e f  g alphabet patterns they don't do that   i'm doing it wrong then i'm not finding  finding the right animal in the chart i guess   yeah i've seen dinosaur charts yeah i remember  one time really early on in my trading career i   i figured out that around frankfurt open there was  like one day there was a little bit of a range and   then there was a pop out of the range it came back  like a railroad track and i i took that like range   cell and then i thought okay this this could be  something i could be on to something here because   i didn't have many winners in those days sorry and  then the next day same thing happened again again   i managed to take the profit and then i thought  oh now i have it figured out like the only thing i   have to do is show up around frankfurt open wait  for that little range wait for the pop-out for   the railroad track take the cell and then you  know my day is done and it never worked again no but okay but how many of you guys have gone  through this experience where you've been staring   at the charts so long you know like for a whole  month day after day day after day and then the the   brain starts to come to its own conclusion of i've  been noticing and it starts with section a that   when this happens it usually does this and then  that's how strategy develops it starts with the   id the word start with i've been noticing and then  therefore right like it has this little pattern of   the brain is trying to pull out a pattern that as  long as we keep doing this then all we're gonna do   is just we're just gonna show up at the market one  day and saying all right give me all your money   like but so this notion of it can be done so  quickly so easily is it true or false someone   should have told me the answer on day one okay  but how about this how about this if we all know   the answer to that is false that it can't be  done so quickly so fast but is there a lot of   money to be made in this industry is that true  or false absolutely okay that's true right okay   anyone who's done anything with trading will  tell you that that's true there's nothing else   i'd rather do now let's flip that around is  now if you were a newbie and i told you the   answer of the shortcut is actually false but  the amount of money that there is to be made   is a lot and that is true would you still be  interested in doing it or would it scare you and   saying well since there is no shortcut i rather  switch industries and i don't know try to become   an auto mechanic or something like that where i  can fix bmws but i just plug in a laptop and then   i don't have to do anything it's just auto  correct what do you mean that's what my dad does we know that's not the case  and it's actually more work yeah yeah for sure for sure i i i  just meant change industries okay i   didn't really mean that auto mechanics  are bad jobs they're a great jobs man but yeah so so when that question comes up of  of if i stand up in front and saying all right   as traders i can tell you that there's gonna be  some work involved it's gonna be difficult but   it's so worth it it's so worth it how many would  you say would stick around and do the work even   knowing that by doing the work half or more will  fall down in the process because the work is just   tedious it's not hard it's actually easy it's  just long right would you guys agree with that   is it actually hard work like is it difficult  like does it require a lot of excellent minds   or something no no no there's you don't have to  be you know an astronaut or a brain surgeon like   would or would have those capacities to be able to  trade not at all because i mean we're sitting here   what are you saying they say i'm stupid all right well we we talk after armand  after this podcast we you and i have to talk all right but yeah it's not no it it's it's not  hard it's and the work that you have to do it's   not complicated either but you have to do it very  consistently yeah and learn from it and make sure   you progress and have a growth mindset instead  of thinking ah after three losing trades i can't   do this there must be something wrong with me  because then you have like a fixed mindset correct   more about it's more about patience and  persistence honestly when it really comes   down to it i mean you got to get the right  education obviously which we have here but other   than but then for yourself it's just keeping that  consistency in that just don't give up really that   mindset like you're saying yeah but doesn't that  also make the industry that much harder doesn't it   seem like okay well if that is the case then maybe  i shouldn't do this because i don't have time or   i have two kids or you know i work two jobs i  don't have time to do all this is is that true   that those people can't do it all right i think it  comes down to your why in each individual person   i mean yeah anybody can do anything if they have  the reason or the or one of the certain reasons   the motivation like you have to like it can't be  just like something like hey i'm gonna wake up   today and like i'm just gonna trade it has to  be like i really want this lifestyle because   of this something that's like super important to  me whatever that is for each individual person so   that's what it comes down to i  think and that'll keep you driving   forward absolutely absolutely the the funny part  is everyone goes after the lifestyle of trading   but lifestyle is not a goal that you can that  it can be pursued lifestyle is a side effect   of excellence i think many people have this  misconception of if i become a trader i will get   that lifestyle so as if the goal is the lifestyle  that's very hard to do because then it's like i'm   working towards buying the rolls-royce i'm working  towards getting the helicopter with my initials   engraved on it in gold whatever i don't know  like i don't know what lifestyle people have in   their mind but i want swimming pools with diamonds  encrusted all i'll throw at the floor like there   is this level of idea of as long as the money is  unlimited then just imagine what i can do just   imagine there's always this just imagined notion  and everyone keeps going after the just imagined   part rather than realizing the just imagine  part that most people have in today's world   comes from excellency from something else they  don't specialize in lifestyle if you specialize   in lifestyle then you're going to have to create a  product which is going to be like a camera service   or following someone around on their birthday or  you know that's lifestyle but you're working you   know you're not enjoying that life you get what i  mean does that does that make sense yeah i guess   yeah i guess for those people who who always use  the word just imagine you know years down the line   it's just gonna be an imagination that's all  it's gonna be yeah that's so so it's very hard to   put a lot of energy and focus into something we  don't even understand so if i when i whenever i   you know here's the exercise i'd like to do  with a lot of the students okay and i'm going   to repeat it here and just you know publicly in  this podcast you're welcome so so this trick that   i use to help a lot of the students is i ask very  direct questions of all right let's say let's say   i get you the key to trade well and now  you're starting to make money which is 40   times more than you would normally make what  are you gonna do i get a lot of vague answers   okay a lot of vague answers of what they're gonna  do well i would like to get a nice house i'd like   to get a nice car i'm like well who told you to  do that do you want to do that no one knows it's   just like i think that's what i'm supposed  to do so there's a lot of vague answers of   why i should live like that lifestyle because  they they are doing it so therefore i must do   it this seems to be the common trait so how much  money do you want oh more the better yeah that's a   great answer to give but because there is no end  point it's very hard to make a goal that has no   end result if you have an open ending you  can't make a goal because a goal is a finite   ending it's like the goal of life is death okay  you're gonna die one day okay that's fixed you   know but if to see something unlimited like that  it's not fixed because it's not fixed you cannot   re-engineer it backwards and work towards it  it's not gonna happen that's the problem with   with the goals of a lifestyle but a lifestyle  is a result of good work now trading opens that   door okay you can choose many things you can  choose to be a restauranteer you can choose to   buy franchises you can choose to do real estate  you can choose to sell insurance you can choose to   work for a bank you can choose to do all kinds  of stuff but the only thing that forex or trading   allows you to do is the upper limit opens up okay  the whole notion of it's liquid the market is   liquid that idea keeps coming in to play it's  a very dangerous idea but that idea is there   which means if i buy something and i am stuck with  it i can get rid of it instantly i can close it   if you buy a business or a restaurant  or a franchise and it's not working   good luck getting rid of it you can't get rid of  it at a click of a button so it's a double-edged   sword you have the power to get rid of it but  people don't learn from each single trade right   would you guys agree with that what is your takes  on that no i think it takes a a large sample size   you know just speaking in terms of trading like  one trade doesn't define a trader or define what   you're doing it's like you need like time and like  doing not the same the same method over and over   to really judge how you're doing and how you're  progressing so it's not just a one trade thing   speaking on trading specifically okay here's  here's where it gets more fascinating here's where   it gets more fascinating if all of you guys okay  you know knock on wood that this never happens but   if all of you guys were patients right you go into  a hospital and then the hospital the the attendee   says oh we have a nice surgeon that will operate  on you this surgeon is the best in the entire   eastern hemisphere where you're staying right  now and he's performed over 1 000 surgeries   now does that make you feel good or  bad great it makes you feel great   right because you know there's experience  in doing things well yeah now with traders   the funny part is you'll see traders who have done  thousands of trades and have learned nothing yeah   how weird is that so it is a double interest  yeah all those thousands of trades were a   different approach different preparation  different execution different everything   correct or even on the flip side it could be  the same type of approach you know the same   type of trades they're still in in their head  they're still going not supposed to give up i'm   supposed to be patient and consistent still making  the same mistake a thousand trades afterwards   you know absolutely now if a doctor does a surgery  wrong and the patient unfortunately loses his life   will a doctor make sure he does his post analysis  to check out what went wrong what did i do wrong   in this there's a medical legal team after him  also saying i need to know exactly what you did   there is a whole preparation of  recap recap recap after one thing   to reach a thousand of those and each of  those has plenty of hours of recap recap recap   that's what makes him successful traders not  just after a losing or a a failing surgery   also after also winning one because they have  to further teach it to the next residents right   the next new you know junior surgeons that are  coming through right so as traders the problem   is because it's so easy to buy and sell open a  trade close trade they never take the time to   actually learn from that one single trade weird  isn't it would you say that's a common trait   that people have a huge flaw in when it comes  to trading everyone's constantly looking for   if i do this hopefully i make a lot cool i did  make a lot this time the next one hopefully i make   a lot there's this constant hopefully hopefully  hopefully every trade comes with hopefully   yeah and it's like even with more experienced  traders like traders that generally do well have   like winning months in a row yeah what they see is  that whenever they don't have a winning week or a   winning month it's when they lose that when they  have a losing trade and then instead of recapping   properly they get into the next one even if it's  without revenge feelings or anything it's just   okay now i'm i'm married to this analysis or you  know any any of those things they they over trade   and then it only gets worse and worse and  worse and then all that hard work and and   you know all those gains from before they they all  evaporate yeah so what else would you guys say are   are common traits of failing traders so does  the number of years of experience matter   no no it helps it helps because it allows  time for the person to be self-conscious about   what am i doing but how am i doing it yeah  but for a newbie looking at that person   saying whoa he's been in industry for like  40 40 years doesn't necessarily mean anything   because it's not like a surgeon where you can't  get to the next surgery if you keep screwing up in   trading you can get to the next trade and screw  up and do no problem because no one's watching   no one is yeah exactly right so never use your  time sorry that's how you use your time it's how   you use your time that's important essence  absolutely you could have one year of fun   you could have one year of just post analysis  every single trade and really doing the right   stuff for that year and you could be farther  ahead than someone who's been doing it for   30 years that's much closer does you know  what i mean so it's not really time it's   it's always the quality of time yeah i really  like how you said that yeah it's how you use   your time so going back to shortcuts is a shortcut  possible so we said initially there's no shortcuts   right because that notion is if i just learn  something and i do it i'll make a lot of money   because isn't that what i'm paying for at some  course or some signal service or some whatever   i'm just have to learn it apply it and  you know like you just hear the jackpot but that's not the case it's it's learn  apply fall get up reapply relearn recalibur   okay or recalibrate and then try again fall get  up move further and then little by little little   by little you've learned from your mistakes  you know how else are you going to learn   yeah okay you just need to be pointed in the right  direction by someone who's been there done that   yes but you need that is maybe a shortcut yeah so  if you you like how ian was actually pointing out   not too long ago about is how you use your  time then yeah like you said armand that is   the shortcut so if you want a shortcut in  trading you need to go hardcore on that one   trade i don't mean hardcore as an increase  or lot sizes like let me rephrase that for   those of you who are just tuning in right now and  thinking oh he just says go hardcore on one tray   what i mean by is is pull out all the  information that you can from that one trade   don't just let it go saying okay it's done i know  what i did wrong okay okay got it got i got it   don't do that don't do that learn everything you  can from that one trade because it's never gonna   come back that day is over that day is lost so  pick up on it learn from it that's your shortcut   and that is free it's free why is it free it's  actually not free you've paid for it from your   loss or your win you've paid for it on that trade  learn from it get the proper result from it it's   not the pnl that matters it's what you learn from  that trade right even if it's on a demo account   even if it's on the demo learn from correct on  a demo account i do i do notice psychological   differences in people they don't tend to take it  as seriously as much simply because it's a demo   i like putting pressure on the students  whether they're trading their own   own money small amount medium amount large  amount or even trading my money the sense of   this is it that's tends to put them in the notion  of all right i can't mess up and that's that's   been working but there are some students who are  actually very strong in the mind and they treat   demo accounts like as if it was a live account  and i've seen that as well but it's not a common   common trait it's a very hard thing to do yeah  of course but at least to to practice the read   and to practice the the rhythm of the market and  just you know become more experienced i'd say   first do it on a demo account like by definition  before you start playing around with a live one   absolutely absolutely so if you can do that  that's definitely the way to go i i would i would   definitely say that's like the best thing you  can do so if we recap the whole thing and we talk   about why some traders fail okay so what are the  common traits of why traders fail is it the number   of trades no because they're trading two less  no is it the opposite they're trading too much   well actually for both sometimes yeah so that  doesn't seem to be the answer right that's   not a common mistake for why they're failing  that's not the reason is it psychology no no   is it lack of preparation maybe okay preparation  is important right yeah some do it some don't do   it so is it take up is it taking away from each  trade that is a problem that is a problem right   and as ian mentioned those hashtag poppers right  all the people hopping from one system one trading   system one whatever to the next you never  learn you never learn you never get a chance   to self-reflect because everything you're doing is  always so different you need a constant to compare   that's the only way to like a constant realize  your mistake and then actually fix your mistake   don't just keep doing the same mistake but like  yeah yeah so let me put it this way you guys   remember i put you guys in the hospital and then  oh i didn't put you guys in the hospital but you   guys are in the hospital and the attendee  is basically saying hey you have a surgeon   he's the best on the east coast he's performed  a thousand surgeries you felt confident right   let me switch it up a little bit so the surgeon  that did a thousand surgeries suddenly is now   unavailable he's stuck on the alps somewhere  it's snowing and he can't get a flight here   but we do have a vet in in the building  he's performed on multiple dogs   so he does no medicine so we'd like for  him to perform on you how would you feel it   completely depends on what the issue is and how  life-threatening it is that's a hashtag hopper   right there that's a hopper it's like this is  not my area of expertise but i do know medicine you see just because you're in trading as if  you keep changing systems changing techniques or   changing everything you're going to have the same  issue it's like being treated by a vet you know   it's probably worse it's probably not even a vet  it's like the car mechanic will have to do this   yeah it's like well i can fix valve's valves  on an engine i mean your heart should be   similar me get my wrench where is he how's  he gonna plug me into his computer though you sir need an oil change man i broke my finger what's happening so there's  all kinds of methodologies all kinds of approaches   and the common traits why many people fail is this  logic of it's a shortcut but not understanding how   they can actually make use of the shortcut there  is one okay there is one so the one part that we   all agree on and that every trader will ever  agree on the money is good and i think that's   gonna be her for a while until the robots take  over the markets and i don't see that happening   anytime soon at least one generation so we  should be okay but you know knock on wood i   don't know maybe 10 years and then suddenly ais  are there's like a brown robot speaking on these   on these podcasts or something i don't know but  but until then i think we're okay i think we're   okay staying on top of all that so the shortcut  is there and the answer to the shortcut is learn   from as much as you can from that one trade  hang around with people who know more than you   yeah stop wasting time trying to help others who  don't know what you almost know okay all that's   gonna do is it's gonna make you feel good but  you're not gonna get anywhere and then you're   gonna live in this circle in this circle of i'm  learning a little bit but then he needs help and   i i can feel what he's going through so let me  help him so you spend 80 of your time helping him   to get him to your level and then two people are  failing now it's like it's just a vicious circle   okay learn the best you can from each trade and  hang around with people who know more than you   at least eighty percent of the time twenty  percent of time you do your your due diligence of   give back help people those in need help them  to get to your level you do that 20 of the time   this is for a growth mindset it does not mean a  humanitarian mindset human humanitarian mindset   is the opposite 80 give back 20 growth okay so  as traders i think you have to think slightly the   other way and that's okay if you're not able to  help yourself there's no way you are able to help   you know someone else right yeah it's a very  common thing even in relationships if you're not   happy you're not going to make your partner happy  you know so it's a it's a very common saying and   i i i you know there is no right and wrong  answers when it comes to life in general   but i personally believe that a satisfactory  life comes from progress without progress   there is no satisfaction there is no such  thing as happiness happiness only comes from   the ability to say i am now grown spiritually  mentally intellectually emotionally whatever   the fact that you're experiencing something new  makes you happy yeah so that's my take on life   in general and trading is not much different  right trading is not much different so for all   the newbies who are listening into this podcast  i want you to know the dreams that brings you to   this industry this market or similar markets  the dreams are not wrong you should dream   there's nothing wrong to dream you should dream  dreams what is what gives you hope is what gives   you fire to make sure you can do better in life  without those dreams you're just a robot so   dream as much as you want put it also into action  and make sure you can fulfill those dreams by   doing what you do and doing it well be the best  you can be in whatever you pursue okay if you work   at a company be the best employee in that company  if you're writing a report write the holiest   awesomest report ever on the planet you know do  the best at everything that you do and that will   that will lean forward into your into your trading  and you will treat each trade with that same level   of perfection of saying i want to make sure this  trade is absolutely perfect yeah right and then as   more and more people pick up on this hopefully our  podcast can turn into why many traders are winning   i think taking action like you said is is a big  big big thing just in life in general not just   with trading taking action yes and keeping having  those big goals in mind but at the same time for   myself having smaller goals to along the way  that you can achieve along the way it keeps   that motivation going because if you can take that  step then the next step to the next and then then   before you know it you are at that bigger goal you  know what i mean so i think it's important to do   that at least for myself it was yeah yeah the only  thing that's hard is to stay consistent that's the   only thing that's hard because as human beings  we're in in the world we live in now is instant   gratification right we want everything done  right now that's the problem like and and it's   not really a problem it's a good thing and a bad  thing it's a double-edged sword at the same time   so it's good to have instant gratifications  when watching netflix it's like no commercials   no nothing fast forward pause play rewind but  when it comes to doing good work then it's like   yeah you got to stay consistent put in the hours  and trust me when i say this it is so satisfying   when you look back and like wow look how far i've  come look how far i've come look how far i've come   and the better you do what you do and you look  back you'll feel even happier even happier   it's so there is shortcuts for all of you newbies  out there so there is shortcuts but the road is   bumpy you just can't stop that's the only thing  if you decide to go down this road the road is   bumpy in fact if it's not this road any road you  choose is gonna be bumpy you just gotta stay at it   only if you want that lifestyle any industry  you choose will end you up at that lifestyle   would you guys agree any avenue you choose whether  it's trading real estate medicine engineering   whatever route you take you will end up at  that lifestyle only if you do what you do well   that's true and you commit to it and you commit to  it the road is not the answer is do you reach the   end of the road and you know how to travel that  road well that's it that's it that's the you know   as simple as it sounds it's also difficult but  that's that's the quick answer yeah just one trade   at a time you know one trade post analysis after  that one more trade post analysis after that do   that over and over and over again right so let's  gonna reach the destination for sure so let's do   this let's do this i'm gonna do a small exercise  with you guys okay for all of you guys listening   in okay i want you to take a moment and close  your eyes and just just hear my voice talking to   you about this and i'm gonna walk you through  this if you're driving please don't do this that's the last thing i want like you're  driving you suddenly close your eyes   sorry sorry let's bring it back let's bring it  back so take a moment just close your eyes and   go into that lifestyle okay i'm gonna walk  you into that lifestyle you're up on a cliff   okay beautiful house up on a cliff okay  everything is white windows are open   white curtains are flying the  wind's blowing a nice little breeze   and you walk out into the balcony and you see the  ocean very beautiful very blue the sun is shining   a few clouds in the sky you smell  the ocean breeze and you're like   and you just feel this is a result of  everything i've done so well in my life   you walk back into the room you  look at yourself in the mirror   and you got a bit of gray on your hair how do you  feel was it a life well lived was it well deserved or you rushed into things  and this is not what you want   this will really answer is lifestyle really what  you're after or is excellency what you're after   is it that house you want with the breeze  just so you can post it on instagram   or do you want to do what you do the best okay if you answer that question there's no way  around it you're gonna get that lifestyle period you're gonna get that lifestyle because there's  no way around it it just follows people who do   good work all right so we're gonna end the podcast  with that i hope you guys can really take that in   and really take your time to always meditate  and put yourself in the position of what does   lifestyle mean for you make it as clear as  possible don't just imagine oh well as much   money as possible like no make it as clear as  possible don't be vague and then say is trading   the route i want to take to achieve that do i like  trading enough to do it 20 years 30 years 40 years   or is this something i'm just going to try  and quit yes you may now open your eyes i see people commenting saying do wait can  we open our eyes sorry about that i forgot   your eyes were closed sorry about that also  how did you type that with your eyes closed so yeah so just you know really put stress  and focus on it and wherever your energy is   going towards it will come out that way it's it's  lifestyle is basically the universe rewarding you   for what you do that's all that is you can't  go after a lifestyle so just remember that   even though we're all attracted to this industry  due to lifestyle we only learn it you know couple   months down the line that it's not as easy as we  thought and that's okay but we did know about it   now but now that we know about it what will we  do that's the question you need to answer right   all right so let's take this into a webinar  now okay why most traders fail we'll bring it   more onto a charting style and we're trying to  talk about all of the stuff that we just talked   about in this podcast more of on a chart  what does that look like what does it mean   and it will take it from there so if you guys are  tuning in from the podcast you will have the link   to the webinar in the description if not it's  always available on youtube or you can drop us   an email at any time at info@urbanforex.com  and we'll be more than happy to get you   the webinar for this particular podcast so all  right so thank you guys here on the panel armand   lucas and ian thank you so much guys for  sharing your personal experiences with the   failing the getting up and recalibrating  and everything like that i'm sure it's   very useful for everyone listening in i really  appreciate appreciate your feedbacks as always   until next time see you guys next time cheers  guys i'll take it from here all right cheers

2021-08-20 00:23

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