Dealing With Psychology in Forex Trading – Price Action Traders Mindset 4

In part 3 of the Price Action Traders Mindset we went over eyeing off trends and looking at impulse legs and retracements to buy or sell. Basically put, we went over how to trade trends effectively as long as they last.

In this part we focus on often a left out aspect of trading discipline and that is dealing with the mental psychology of trading. This is often the biggest element or hurdle for many traders and often this is a component that makes traders leave this industry.

Let me be blunt here, trading is emotional, many of us are hard wired to be competitive yet in order to be truly successful in this business we must form a mental perspective to understanding that this is a process of winning and losing trades as we build the account.

Now let me blunt again, if you come into Forex thinking that you must win all your trades, well then good luck my friend, this business is not for you and that is certainly not a way of making money in this business. You have to focus on overall gain, not so much in overall success ratio.

psychology in trading

I for one would much prefer to make my $2000 dollars a month having more losses with smaller risk than make $1000 dollars a month with only a few losses with bigger risk.

This Basically is all about looking at yourself, assessing yourself as a trader, heck even assessing yourself as another human being, the animal that we are in the animal kingdom. None of us is perfect and in a way that is what makes all of us all perfect and special in our own ways.

Trading is but a psychological hurdle, I have faith that anyone that wants trading as there dream can pass this hurdle as well. Β Keep it simple people, follow your strategy and stick to the process.

Above – In the Video above I go over the process of Psychology in Trading. Β ( We all go through it.. )

In part 5 of Price Action Traders Mindset I will go over the aspect of building the belief system in trading with your strategy. In a nutshell,l I will go over what tools should you use to get confidence with your strategy, how to know if you strategy does indeed work and build that confidence and belief system around that… Then lastly, to act on that belief. In order to get this video update as soon as it is available you should consider subscribing to get details of it as soon as it is available.

Thanks for watching, keeping up with this series and I appreciate all the likes and support.. If you have a friend you know that would benefit from watching this video then letting them know about it is appreciated.

About Timon Weller

Timon Weller is the professional Writer and Trader behind the blog Forex Reviews. Timon Weller is also a professional Teacher of Price Action Trading and creator of the popular Training Series teaching people how to trade Price Action effectively called The Engulfing Trader. For other Forex Training available here at Forex Reviews click here.

For more on Timon Weller Click Here. To Learn more about How to Trade the Market and get updates Click Here.


  1. WOW it is very accurate thinking and true to succesful trading.

    I never blame on anyone else for the risk i take on any trade and i know that any trade can be winner or looser. Only focus on entry, exit and risk management.

    27:10 is very accurate to some unhappy people i see everyday are blaming for others and looking any reasons complain about. They are even mad at me when i study in my work place, laugh or smile or try to help them they are just so mad… Positive thinking attracts more positive thinking AGREED indeed.

    here is a quote from P.HD Van Tharp: you dont trade the markets, you can only trade your beliefs.

  2. Hey Timon,

    Just watched the Mindset 4 video again… It is excellent! You mention in this video about a very successful scalping strategy you used and are still using today along side your Engulfing/Pinbar/Structure/Price Action strategies on the Higher Time frames. Just wandering if you have already done this scalping video or if it is in the pipeline. I am finding that I am doing all the chart setups in line with your teaching; setting many alarms; and would welcome the chance to successfully also scalp the market during the quiet / waiting times. Regards, James.

  3. Appreciate the teaching. Its good positive reinforcement. I listen again and again when I catch myself making errors in my thinking, saying and doing. Thanks

  4. Hi Timon,

    I really want to thank you for sharing the information on pychology of trading the forex market, it’s being very helpful.
    Best Regards.

  5. Excellent Timon – thank you for taking the time to produce these videos, im finding them very helpful and inspiring. Trading is a lonely game that can send you a little crazy sometimes. It’s very reassuring to hear another traders story and align it with my own experience.

  6. Awesome video Timon! I’ve been trading for three yrs. now, live/demo and everything you said is absolutely spot on! Thank you for the time, encouragement and free sharing you give all of us!


  7. Petr Kacer Kostka says:

    Cool Timon, I just got your email with this link good stuff of course, thanks!! But I’ve seen your ALL videos al ready hehehe… twice at least lol. Happy trading mate.

  8. Hi Timon,
    Well done I know just how much time is required to produce these videos.
    The psychology of trading is well documented however not very well understood.
    Books trading in the zone., let the trade wins flow well worth reading.

  9. Enjoyed the video. Something we also need to remind ourselves of with anything in life. Thank you!

  10. Vincent foo says:

    You are a great guy..blessing to have u to shares. Really learn a lot from u. Make lots of sense.
    Thank u very much..never been better after listening to your video.
    Look fwd of more videos.
    Thank you


  11. Fantastic Timon. I needed that. I do enjoy your Videos. Look forward to all you have to say. BIG help. Cheers!

  12. Mshelia says:

    Awesome Timon this video will do good to a lot of trader especially beginners. Thanks once again.

  13. Thanks Timon.. your words are wise and hard earned– I have no doubt

  14. craig donald says:

    Thank you Timon, I found that video fascinating as I have to admit I have made some of those classic mistakes you highlighted.

  15. Great info Timon, dude you need to write a book I’m serious I’ve been in the markets for quite some time and know your speaking the truth about the markets again keep up the good work my friend ..

  16. Sharon Panchal says:


    Thanks again for another excellent video lesson. Much gratitude to you for all your time and effort in helping many traders on their journey!

    Looking forward to the next video!


  17. John McAlister says:


  18. Hello Tim, Enjoyed very much and a few truths hit home. Thanks again for this webinar, keep them coming.

  19. Great video, thanks for every thing happy new year

  20. Happy New Year Timon & family !

    Excellent set of videos. Well done , keep it up !

    Kent, UK

  21. Thank you, Timon,
    that is never enough to remind me
    about positive thinking,


    Thanks Timon for your reply to me.
    I am trying to improve myself by your support.

  23. Hi Timon, Thank you kindly for your hard work. Love the house and pool.

  24. Frank Nilson says:

    Hi Timon, great video. Thanks.

  25. Hi Timon
    Thank you for sharing the great information on psychology of trading the forex market, it’s being very helpful.
    Excellent video, it sure hits the nail on the head.
    Thanks again for the great support.

  26. muhammad ashraf says:

    Great brother, GOD bless you.

  27. Love it ! Another great video !

  28. Ashley Lewis says:

    Hi Timon your education is on point!! Absolute legend, much love x.

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