how many times have you been in a trade
and then it starts going the opposite
way and then you panic and get out of
your position way earlier than you
actually planned to when i first started
out day trading and the first time i
entered a trade and it like went up and
i was excited and then it went down
against me i started to freak out when i
saw my position go negative this is the
basics of traitor psychology so in this
video i'm gonna give you one incredible
hack that you're probably not using that
may potentially change the entire
paradigm of your day trading
[Music]
welcome back to the channel everybody my
name's artie and this is the moving
average a show where we discuss
everything day trading to keep you
profitable now just to be transparent
with everything i feel like a complete
idiot for not showing you guys this
earlier i literally did not think about
it when i do analysis on the charts i do
it for youtube videos because everybody
knows that when the bars are green it's
going up and when the bars are red it's
going down for a visual representation
this is completely fine but when
actively trading it's messing with your
psychology
because we are programmed don't feel bad
everybody's programmed everybody's
programmed whether you drive a car or
you don't drive a car to red means stop
and green means go there are many other
psychological factors that come into
play with this specific color but i only
want to talk about those two let's get
into the charts and i'm going to show
you a few examples okay so this is euro
us dollar this is the standardized
colors as default the trading view gives
you i want to look at two specific
support and resistance levels right here
and right here you can see this one was
formed up here and this one was formed
back here now we hit this level rejected
off of it and then rejected twice
correct forming a w and you guys all
know from my support and resistance
videos a double bottom on a support and
resistance line is really healthy it's a
good entry so i've put this in replay
mode we had our first bottom it rejected
off we are now rejecting off of the
second bottom this is what you would see
in the live markets and boom you've had
your second rejection off of that
support and resistance line the candle
has closed and you are ready for a long
position you place your long position on
the charts with your stop loss below
that support line and let's just say you
want to target that whole move back up
to the previous resistance now because
of our conditioning green means good red
means bad so if you're living in this
area you get stress anxiety because you
want to go right you want a positive
position you want that green but you're
living in this red space the next candle
forms and it is only within that red
zone it is all red you start freaking
out you think your analysis is wrong and
you get out of your trade early with a
loss a few candles in and you're already
regretting everything you think you're a
horrible day trader you got out of your
position early had you just held it you
would have already been in profit so
let's say that you made the mistake of a
late entry to your previous analysis
just getting in here the reason this is
wrong is because now you don't have a
concrete area for your stop loss and you
should have been down here but now
you're just randomly placing it anywhere
that you feel comfortable still
targeting that next zone and then the
next candle forms and it is all red
saying stop in a red area that's saying
negative it is messing with you and you
get out of your position again for a
loss now you're down two percent if you
have proper risk management this trade
keeps going up but every single time
that your brain sees one of these red
candles it's like whoa whoa whoa whoa
stop i'm supposed to be going why is it
going backwards i need to get out i'm
going to panic but eventually that trade
played out if you had trusted your
original analysis trading off of a
double bottom on a known support level
you would have been just fine originally
that was a 15 pip stop loss with a 73
pip take profit that's a banger trade
for everybody so what is the one hack to
prevent your brain from getting out of
these trades early for your brain to
stop contradicting your original
technical analysis like i've always said
before when it comes to day trading you
need to be a machine you need to be
emotionless you need to follow the rules
you need to set your trade and forget it
but a lot of people struggle with this
because they watch their active trade
and every time they get that red
movement in a long position
they panic conversely when you're in a
short and you want the price to go down
and it starts going up you get the same
emotions so the first thing that i want
you to do is change the color of your
short and long positions i'm suggesting
blue and white on a black background
it's going to look a little bit gray but
these are very very neutral colors not
as harsh as stop and go the next thing
that i want you to do is change your bar
colors sorry i should have explained how
to do that really quick when you click
on your long position you have color
options right here you can change the
profit background color and the stop
background color click select a color
that you like again i suggest blue and
white now the second thing that i want
you to do is change the color of your
bars right click on the chart and click
settings you can change the bar color
right here change all these greens to
some other neutral color change all the
reds to some other neutral color i'm
probably gonna adjust this 500 times
before i find something that i like but
i'm just gonna go with yellow because i
like yellow and a nice neutral contrast
to that is white so that's what that's
going to look like then just click ok
now you look at this
and you get a completely different
perspective on it there's no emotions
tied to this like i don't see bad as
negative or going down i just see
lines on a chart going in a direction
that's what i want you to do and i can't
believe i didn't think of this before i
actually watched one of brutus's video
if you guys know we work together it's
this guy a link to his youtube channel
is down below
but when he covered this in a video i
was like damn that's like smart so
that's why i'm sharing it with you guys
because i think it's really really
really really going to change everything
about your day trading for example when
i downloaded mt4 on my phone it looks
like this the candles are white and
black
there is no emotion in that when i see
analysis on there i drop my trend lines
i see my support and resistance i just
get into a trade and i have no emotion
behind it and i do 99 of my trading on
my phone it's just easier for me to look
at my charts on there see my entry and
then enter my trade if i see a rejection
off of a trend line going with the trend
boom you're trading with the trend it's
an easy entry which usually have the
tightest stop losses so yeah what i want
you guys to do for the next week is
completely change your candle colors
even make it all white whether it's
going up or down i want you to change
the candle colors to whatever you like
as long as they are neutral and they
don't entice certain emotions like stop
and go after a week i want you to come
back to this video and leave a comment
and let me know if it helped you or not
what it's done for me is make me
completely neutral to it like i just
look at the charts and now it's just it
is what it is they're just lines moving
now if you are new to the channel and
you want to learn about the support and
resistance thing watch this video right
here and if you guys enjoyed this video
you like the content you like the
education you're getting some value from
it all i ask is a like down below and a
subscribe right here thanks so much for
watching and we'll see you in the next
video