Notes for Success : Understanding the Forex Mantra

This is a followup video and also bonus video for the series Price Action Traders Mindset.. In part 4 of that series I went over the power of psychology and how it can literally obliterate some traders success. To the point where one trader maybe following the same strategy as another and yet one of them may only be successful. This is because it is not just the strategy at play every time we open a trade, it is our own dealing ( emotions ) with how the trade is managed afterwards.

If you are the sort of trader that takes profits too early, uses too big a stop losses, over leverages there account in a single trade or even sees there analysis of there trade as wrong after there entry then this video is for you. And guess what, you are not alone, this is a very common process that all traders go through..

Above – In this video I go over the common psychological battle many traders go through after trade entry and how a few positive notes can help change old bad habits.


My Old Trading Journal Notes…

After digging through my old trading journal yesterday one page stood out for me, it was my positive thinking page, what I wanted to be better at in trading and also how I wanted to be as a trader. It went against my weaknesses and also gave me something positive to strive for. If you and I am sure you do, have similar weaknesses, correcting them by writing what you want can have massive impacts.

Many people simply focus on the negative and because of this they get stuck in that cycle.

As trading is highly impacted by emotions, getting control of these elements is essential.  One may see these positive affirmations like rules or restrictions or another may seem them as positive goals, to me I see them as like they are, a Forex Mantra. A group of positive affirmations that are repeated often in order to help bring around a positive change.

How To Use?

Using a Trading Journal or Diary is completely up to you. For me, it helped a great deal and that is why I am sharing it.

Also these words or affirmations of words are words and positive notes that helped me, they were for my weaknesses in trading in the past.. So in order for you to benefit from this what you should do is sit down and work out what your faults are as well. Everyone is different in this business. Take a pen out and write what you would like to be, the opposite to the fault.

It is as simple as that, there is nothing better than beating an old habit that maybe costing you money with simple changes such as this.

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. Tod Burton says:

    Hello Timon,

    How are you? Thank you for sharing your strategy with us! In your 38 minute hedge strategy video, what platform are you using? Also, don’t you think this could be an automated strategy? Lastly, have you considered applying this to Renko Charts. Instead of using the support and resistance levels, would it be profitable to use the color change of Renko candles in their place, What do you think?

    • Hey Tod,
      I am using Mt4 platform for trading. Yes it could be automated or semi automated.. I do not trade renko based candles myself, however I did a back testing video on Renko in the past that may relate to what you are referring to.

      Happy Trading..

  2. Hi Timon,
    Now I know you have said on numerous occasions that we are trading Price Action and not the news. However, what are your views on the current “mess” in the US and the implications for our style of trading “Naked Price Action”? Should we be extra cautious or is it merely we still only take trades that have multiple confluences based essentially on Price Action; and if the news of the day impacts the trade; we merely accept that loss? Thanks in advance. James.

    • Hey James,
      Oh I have views on the situation, I just do not trade those views.. The news is just way to random.. Always be cautious though, if you are putting the stops in the right place where you would be wrong there is no issues even in these types of scenarios. The charts are just going to play out how they play out..

      Now if we look at what is happening, the US govt shutdown.. It most likely is a play by the govt and media to get people to appreciate the rescue once it is worked out. The US is good at that and they do it a lot.. What I mean is on one hand yes they have a debt ceiling, but on the other hand it is not what they are trying to portray to the world exactly what is going on.. The debt ceiling issue will be fixed if you ask me, it already was, this is hype to get as many people out of the stock market and back into US dollar. They are playing the market again and a lot of stocks should drop if there plan works… Then when it is all over they will be the hero’s saving the day when really it was already sorted.. That is my perspective.. I can understand why they are doing it, they need another false crisis in order to fix and then it will take the peoples eyes off the real problem, which is world bank lending issues.. The banks simply do not want to lend, however in the end they have to, because without lending to govts they make no money.. And if no govt there is no money.. Considering Goldman Sachs and few other banks rule the world this is there play if you ask me, they make there profit and then they say, oh the debt ceiling is raised and then they make more money.. Of course more cut backs along the way.. We have to remember if US was really concerned really about the situation in reality why would they be spending so much on not needed wars..? They are not so concerned about this debt ceiling issue.. Otherwise they would bring the troops home yeah to save money to pay..? Many people forget that..?

      Banks or Market Makers + Media hype + Govt cooperation of media hype = $ Money for the banks and commission cuts to govt in kickback which is low rate lending..

      Create the play, make the money and yes we keep lending type deal.. They get a guaranteed trade, many stock market traders lose money.. Govt keeps doing in media attention until enough stock market traders have lost money or until they hit there target profit for the big boys and banks.. Once there the lending deal is done and once again Goldman Sachs and the big players which all do insider trading make ridiculous profits once again..

      If however i am wrong and the debt ceiling does hit America and they are forced to default which to me is unlikely.. Then well, it will not matter because it will effect every country in the world including Australia heaps and most investments as well. Last US crisis AUD dropped more than 30 cents as an example.. GBP crashed, EUR feel apart, in fact all countries are still dealing with that time.. Our country is very vulnerable to US debt balance ratios.. As like all countries, so no one would be immune. It would be a scary situation if the doomsday US crash people were right.. However like most doomsday stories, they are just that, stories..

      So either way, interesting situation, I am positive about the resolution. I am sure that the people in the top of US politics and banks like Goldman Sachs already know the outcome, they certainly will not allow themselves to lose money and a crash was costly last time.. Touch wood hey.. Overall I reckon it will be fixed very soon..

  3. Hey Timon, Given your extensive and interesting analysis. Business as usual I guess. Thanks again.

Speak Your Mind