Fund Your Retirement Podcast FYR018 Currency Investing the Mindset and Psychology Part Three
Welcome to part three of this mini-series on currency investing, in this episode we will be covering the very important topics of
- How the brain learns and can be re-wired with new skills, habit, and behaviours
- Thinking in probability analysis
- And the four key traits to foster success in the markets
The understanding of why the currency markets move is obviously of paramount importance. Still, too many people jump into the trap of thinking about much money they are going to make instead of understanding what they are doing it first.
Today’s episode is a continuation of expanding that understanding as we dive deep into the importance of the mind. The psychological aspect of trading or investing has a far greater impact on success than many realise. It’s not just in the financial world either that the mind plays an important role, in business, in sports, and in everyday life, the mind has a huge impact on how we view the world around us and how we interact with that world......which includes the chart of EUR/USD, a chart of Gold or the stock ticker of Apple.
- 0:00 to 1:00 Introduction.
- 1:01 to 1:38 The importance of psychology and the mindset.
- 1:39 to 2:30 Accepting losses or failures, and how to move forward.
- 2:31 to 4:05 How the brain re-wires itself to learn a new skill or change an unwanted habit.
- 4:06 to 6:46 Embracing probability thinking.
- 6:47 to 8:35 Four key traits, discipline, dedication, follow the rules, and a positive mindset.
- 8:36 to 10:12 Review and wrap up
Have a wonderful day.
The FYR team.
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