i've taken tens of thousands of trades over my last five years of full-time trading experience most of which were documented and journaled in hundreds of pages in this notebook and many other notebooks just like this and in this video I'm going to share with you my five years of trading psychology experience within 17 minutes and I guarantee that I will address every single one of the issues that you might be experiencing within your own trading psychology and I'm going to give you actionable steps on how to fix those issues within your psychology by the end of this video so you can 2x 3x 5x 10x your trading profits because ultimately trading psychology makes up like 70 to 80% of your trading success it is extremely important that's exactly why I created this video but before I get into it for anyone who is new to the channel you know you're not familiar with who I am I want to go ahead and introduce myself first my name is Emanuel Malurovich i've been a full-time equities trader over the last 5 years and the way that I learned how to trade was through my father my dad mentored and taught me how to trade five years ago he has close to a decade of trading experience and a lot of the psychological concepts that I'm going to talk about in this video he taught me when I first started trading and it you know proved to be invaluable for my progress if and for my trading career and in front of you I have my last five months of personal brokerage statements from my brokerage Charles Schwab i use Thinkorswim platform every single day and the reason I'm showing you these statements is because there are so many trading gurus on YouTube and on the internet that talk a big game they try to teach you how to trade but they don't actually make money themselves with trading i want to be real i want to be transparent and I want to show you that I actually do this for a living so in this statement you'll be able to see my deposits into the account i didn't make any deposits you'll be able to see my withdrawals my beginning balance ending balance cash activity and all that good stuff so in November I made $77,571 december $53,51 january I made $73,656 february I made $68,955 and in March I made $43,988 and we are currently halfway through the month of April around April 19th and I'm already up $48,000 in the month of April i will include my April statement next month whenever I make a YouTube video and like I said I'm showing you these to be transparent to be real to show you that I actually make money doing this i do this full-time this is my career i trade live every single day now let's go ahead and get started with the actual class i have a shot clock right here we'll do 17 minutes all right let's get it going so the worst advice that I see all the time on social media about trading is trade like a robot this is the worst advice that you could hear and it's literally impossible to apply we ladies and gentlemen are not robots we are human beings and as human beings we have emotions they are inevitable our job as traders shouldn't be to not have emotions it should be to learn how to control those emotions that is the difference between you making money with trading and you you know being an extremely successful trader it's the difference between success and failure your ability to control your emotions and master your trading psychology but you need to accept that they're they exist they're going to happen and your priority you know stop focusing on not having emotions focus on learning how to control them and ultimately there are two emotions that that are rooted in every single trading issue that exists within your trading psychology it all comes down to two different emotions and we're going to talk about the first one which is greed right and and by the way this is every issue every issue whoops almost dropped the mic every issue that is within your trading ultimately comes down to greed and there's one more that we're going to talk about in just a second but what is greed greed is your desire to make money and ultimately your strong desire to make money is what's stopping you from making money and we're going to go over the exact ways that's actually happening the first way is overtrading this is when you are taking way too many trades but to be more specific this is when you're taking low quality setups you're forcing trades and you're trying to force profits right you're forcing setups that aren't there that don't actually fit the criteria in your trading plan why are you overtrading ultimately you want to make more money why do you want to make m more money because of greed this ties into greed you need to really accept that so how do we fix overtrading like if you're overtrading right now how do you fix it well you need to have a very detailed plan of what goes into a highquality setup and what goes into a lowquality setup if you don't have a plan like that you're you're you're never going to become successful when you're looking at the charts and you identify a setup there should be like alarm bells in your brain that are like "Yep that's a high quality setup." Or "Nope that's not a high quality setup." There's specific qualities criteria that go into it being high quality setup this needs to be written down so when you're looking at a trade you can identify is it a good setup or a bad setup if it's a bad setup don't take it you don't trade that setup right if you do trade it that's overtrading right you only focus on A minus to A+ setups maybe occasionally a B+ setup if you're feeling aggressive now if you don't know the criteria or the qualities that go into A+ setups I highly recommend watching my free 10 plus hour course you could find that in the description of this video it'll be linked you could start it it's 100% free it's 10 hours long it is genuinely better than most paid courses on the internet it'll teach you all of this stuff the next way that greed could be affecting your trading is overleveraging or overrisisking right you could you know trade profitably and make a bunch of money for 3 months 6 months a year and then one trade you can give it all back one trade can ruin your account by overleveraging or overtrading now why does this happen it happens because you have a desire to catch a big trade and to make a ton of money ultimately because of greed the way to stop over risking and overleveraging is honestly be disciplined with your plan right when you like in your trading plan you should have a specific risk that you cannot go over like for me I can't lose more than $5 to $600 on a trade that's I just can't do it it's not in my plan like if I I don't ever do that i'm very very strict with it right the way to stop overleveraging and over-risking is to be strict with your plan and to have a concrete risk that you cannot go over in a specific trade or in a specific day have a rule where you can't lose X amount in a specific day like for me if I lose more than like a,000 or 1500 in a single day I'm done with the day i'm done trading you need to have that rule for yourself you need to have rules that limit the amount that you lose in a day or in a trade okay the next way that over le or that greed can kind of materialize in your trading is through revenge trading where you take a setup uh on a stock or whatever you're trading you lose on it and now you have feelings you have you know those emotions to essentially make your money back or you know make your money back and then also make profit this actually plays into the next emotion we're going to talk about we'll we'll talk about that in just a second but what is revenge trading you're you're trading because why not because there's a quality setup not because there's specific criteria that you like to see you're trading because you lost on that setup and now you're trading it again to make your money back that's not a reason to take a trade just because you lost on a setup doesn't that's not a good enough reason to take that setup again you need a you need quality criteria to take a trade right so you're you're again you're forcing profits you're forcing yourself to you know either break even on that trade or to make money back ultimately this materializes in greed how do you fix revenge trading what I like to do is um if I lose more than two to three times on one stock if I'm scalping it I remove it off my watch list it's a really great way of doing that if you're only trading one to two securities maybe you only trade NQ or ES or something in that case you can you know after two or three losing trades you're done for the day and you limit yourself right you just got to be disciplined with it right so have rules in place for overrisisking for the maximum amount that you could lose in a day or on a trade and have rules for revenge trading where you stop trading after one or two or three losing trades okay next another way greed can materialize in your trading is impatience and this is not even like like from a trade to trade basis like not I'm not saying like being patient within a trade i'm talking about the impatience of trying to make money and become a profitable trader trader as soon as possible okay a lot of times most people who get into trading I talked about this in my last video you're not actually interested in becoming skilled traders you're not actually interested in learning you know what goes into a high quality setup or how to manage risk or how to manage your positions correctly you're just focused on making money you're not actually interested in becoming a trader and you're impatient you're so you know eager to make money that you skip the process where you try to like cut corners you skip certain steps and you just have to for this you know you have to change your expectations when you're going into trading stop thinking about the money the more you think about the money the more it runs away the more you think about becoming a skilled and profitable trader and focusing on the process the m the more money comes to you right i've never met a really really good trader that doesn't make money but I've met a ton of people who want to make money with trading who don't right focus on becoming really really good and the money will come to you and that could take time you need patience right trading like think about it you go to school for four years to get a degree that doesn't even guarantee you a job but you're not willing to spend 3 to 12 months to become profitable doesn't make any sense you have to shift your expectations and be patient with it focus on act on learning the actual skill set don't focus on the outcome next holding too long this is when you're in a profitable trade the trade is making you money you're up let's say two Rs three Rs you're feeling super good and then you decide to hold too long because you want to make more money and this is when you ignore your exit plan because you want to hit that home run trade you're not happy with two Rs you want to make four Rs you're not happy with $1,000 profit you want to make $10,000 profit your desire to make more money on that trade is stopping you from making any money at all like if you're up let's say a thousand bucks on a trade you could take take partials take half take 500 bucks off the table take 750 off the table you're still in the trade but you took some profits already versus you're up a,000 you want to make 3K and then all of a sudden you you don't you um ignore your exit plan and next thing you know it becomes a losing position that's ridiculous that ultimately comes down to greed and you just wanting to make more money versus focusing on actually trading the right way and following your exit plan if you don't have an exit plan I would watch my free 10 plus hour course i go over how to create an exit plan it's extremely useful everyone should have a plan on entering into a trade and a plan on exiting that trade okay you can't have one without the other next guys so though this is all about greed right if one of these is your issues like that's because of greed and hopefully some of my solutions helped you out there now the next emotion is fear there's greed your desire to make a lot of money and then there's fear fear is being fearful that you're going to lose money or fearful that you're not going to make money okay the first way fear materializes is the fear of being wrong and I have just around seven minutes okay the fear of being wrong a lot of times I see beginner traders they're more interested in being right versus wrong versus making money because they have their ego plays into it they can't handle their ego being wrong where they enter into a trade they're so confident it's going to go higher they're so confident that's going to happen that when it moves lower or when it doesn't play out the way that they think it's going to it hurts their ego it hurts to be wrong and you can't do that right you you can't be focused on being right or wrong that's not what trading is about trading is about making money okay so if you feel like your ego plays a heavy role in your trading you need to find solutions to that you have to realize that you know you should have a much stronger desire to make money than to be right and sometimes the best way to make money is to limit your losses all right so if you have the fear of being wrong you have to shift your perspective and focus more on making money versus just being right okay next fear of losing this is when you are risking money on a setup and you hesitate where let's say you see a really high quality trade and you hesitate on that trade or you second guess yourself and that trade actually works in your favor and then you're thinking to yourself why didn't I take that trade i I knew it was going to go down or I knew it was going to go up but I didn't take it why am I so stupid right it's happened to me this ultimately boils down to your fear of losing you're fearful that you're the money that you risk right you're going to lose it that you're you're fearful that you're going to lose money the way that you fix this is to number one lower your risk you're risking way too much money if you have a fear of losing money you have to pick when you decide how much you're going to risk on a trade you have to pick an amount that is not going to kill you if you lose that amount but it's also not going to be so low where you're like ah I don't care like if I risk $10 on a trade I don't care right okay I'll lose it i don't care but if I risk $500 on a trade on one hand I'm not going to feel affected that affected if I lose it but if I do lose that amount I'm still going to kind of feel it right you have to find that sweet spot but if you're like actually fearful when you're entering into a trade it's because you're risking way too much right lower your risk to the point where you're comfortable with losing that amount and then you're not going to have that fear of entering into trades because worst case you have your stop-loss you know exactly how much you're going to lose so it's okay you know the worst possible outcome when you enter into a trade you're going to lose what your predetermined risk is and you need a predetermined risk you need that in your trading plan fomo you fear you're missing out on the trade of the century so you break your plan and you overtrade a lot of people go through this the fear of missing out this is when you know you see a trade you feel like you're missing out on it maybe you were late to it maybe you didn't spot it in time maybe you passed on the position you just like let it you know you didn't decide to take it then it starts to move in your direction and you FOMO into it because you fear like you're going to miss out on some amazing opportunity understand there are hundreds there's going to be thousands tens of thousands opportunities in your lifetime in your trading career you're you're going to have trades that same day you're going to have a trade the next day you're going to have a trade the next week don't get so caught up on one trade that you end up getting into it late because of your emotions and then you end up losing money there's plenty of opportunities to make money in trading guys this past week there was a trade that if I literally I kind of misplayed it if I played it right it would have made me like 20 to 30K i swear and instead of FOMOing in late I was like you know what it is what it is i'm going to let it go it was a tough pill to swallow but I had to do it right so just understand there's there's going to be plenty of opportunities don't get so caught up on one trade there's thou there's going to be thousands of setups in the markets all right next fear of not being good enough lack of confidence switching strategies so ultimately lack of confidence and uh switching strategies this is go going to boil down to the fact that you're not confident in your trading you're not confident in your ability to make money maybe because you're a beginner or maybe because you're not profitable honestly the best way to actually fix this is to have a coach or a mentor in your trading and it doesn't have to be me it could be anyone but someone that could show you how to trade the right way and someone that you could trade with every single day um if any of you guys are looking for you know a full-time coach or a mentor I do have a mentorship program i will be completely transparent where I take traders under under my wing and I scale them from zero to$10 to $50,000 a month with trading i trade live every single day i take you under my wing i teach you from A to Z and ultimately we're trading together every single day you're learning how to trade by doing it with me i share my screen we're on the same uh call we're trading together we're making money together and most of my students they never have lack of confidence they never switch strategies because they learn how to trade correctly from the very very beginning all right guys we have just about 1 minute and 30 seconds left so if you do want a full-time mentor you're serious about becoming a full-time trader you want to do this you know as fast as possible you you don't want to figure it out by yourself uh you could apply um in the link in the description and we can we could see if this is a good fit uh for me to work with you and for you to trade live with me every single day guys next in terms of fixing a lot of these trading psychological issues we kind of talked about it but real quick uh something that's really helped me is start the trading day in the green even if it's a small winner when you when at 9:30 hits the opening bell hits make sure your first trade is a winner even if it's a small winner even if you have to lower your risk make sure it's a winner me doing this like was a gamecher for me when I start off the day positive I just have such a different psychology moving into the rest of the day just do it and you'll see the results create a trading plan i'm not going to go over it in this video just subscribe to this channel this is the next video that I'm making when in doubt always lower your risk this is so freaking important whenever you're emotional you're feeling doubt you're feeling lack of confidence you're feeling anything that's not a positive feeling in your trading lower your risk always lower your risk in times of doubt so you could protect your downside another thing you should be doing is focusing on becoming a break even trader before becoming a profitable trader most people try to go from uh losing or beginner to profitable instead you should be going from beginner to break even trader break even trader to profitable trader that step in the middle is extremely important oh there's a timer but real fast we'll finish these step away when you feel your emotions get to you just step away from your desk if you feel like you're getting emotional have rules and ultimately guys every single one of these issues in your trading the greed the fear overtrading overleveraging revenge trading impatience everything fear of losing it all boils down to your discipline being disciplined and making sure you do the actionable steps within your trading plan to prevent all of this from happening whether that's you stepping away from your trading desk whether that's you lowering your risk whether that's you having rules on how much you could lose on a day or on a trade whether that's just specific rules just to you for how to not overtrade or to how to you know uh or what to do when you feel FOMO whatever the case is you need to be disciplined with your rules that's what's going to help you with all of this trading psychology all right guys that's the end of the video make sure you subscribe to the channel um make sure you leave a comment if you found this valuable leave a like it helps the YouTube algorithm and hopefully you found a tremendous amount of value in this video so thank you and I will see you guys next