Walter and Darren dig into a trader’s question about confidence issues with support and resistance trading. They talk about trading beliefs, the dangers of tweaking your system to fit what other traders do, and using your emotions — such as fear — as a tool in trading.

They also share some tips for keeping your confidence up and how some successful traders use support and resistance in this episode.

Download (Duration: 22:51 /26.1 MB)

In this episode:

00:10 – not your goal

02:18 – an interesting trader

03:06 – fantasy versus reality

06:17 – trading robots

08:27 – one path fits all

10:05 – “if’s” and “but’s”

12:30 – risk management issue

14:38 – unique occurrence

16:33 – worst than you thought

18:10 – focus on the reward

20:06 – not just about money

Tweetables:

Your money is not really yours. [Click To Tweet].

Be open minded and realistic. [Click To Tweet].

How can you make trading fit into your life? [Click To Tweet].

Download The Full Episode 50 Transcript Here

Darren: It’s not just about money and if you can, if you do make it just about money then it’s probably not going to work for a lot of people…

Announcer: Two traders, Darren and Walter, pull back the curtain on profitable trading systems, consistent money management, and profitable psychological triggers. Welcome to the Two Traders Podcast.

Walter: In part two, you will learn how our goals determine our outcomes when it comes to trading. You’ll also see how your trading fits into your life and how you can make that fit in more comfortably.

Darren gets into this idea of the questions you’re asking and how these really determines whether or not you’ve explored what trading really means to you and what you’re going to get out of your trading. It’s a fascinating discussion.

We also talked about the no loss trading system. This is something that you should definitely pay attention to. What you must be comfortable with to succeed at trading over the long haul.

Finally, we also looked at ice cream businesses and forex trading, their differences and similarities.

If you haven’t listened to part one of this discussion, I would definitely suggest that you go back to episode 49 and listen to part one but, if you have, then you’re probably ready to go and you’re ready to listen to part two so, here we go.

This is part two of discussion about trading Success.

 …These are things that people forget about. Why aren’t you flying around in private jets and driving Ferraris to the grocery store? One reason could be because that’s not your goal. That’s not what you want.

Another reason could be is because you’re not the kind of person that just compound accounts. You like to take a salary, so to speak, from your trading — maybe a little bit risk reverse like I am. I’ve known too many people who’ve lost their accounts or lost a large chunk of their accounts from brokers that have...