Part 5 of Tom Hougaard’s Trading Psychology presentation unveils his trading framework. He gives us insight into his trading day and the preparation he does for it, including what he calls “scenario analysis”.

He talks about thinking the opposite of the 90% by ignoring what people say, and refusing to reduce his trading size when on a winning streak. Hougaard explains why not to open a position with a financial instrument just because the price has dropped, and instead shares his insights into when to buy and sell.

Tom also reflects on learnings from expert trader Richard Dennis and how he’s implemented them into his trading. Tom concludes this part of the presentation by sharing his four core pieces of advice for mental preparation, how to ‘become friends with fear’, and developing a low-risk idea.

► Check out Tom’s website: https://tradertom.com/

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► Check out the other parts of his presentation:
Part 1: https://www.youtube.com/watch?v=xoGOZD7-3gY&list=PLG-cFxyNs94VFAv_l_aW0lOpRxrCtPum6&index=2&t=0s
Part 2: https://www.youtube.com/watch?v=p0Tfs7VNp7s&list=PLG-cFxyNs94VFAv_l_aW0lOpRxrCtPum6&index=3&t=378s
Part 3: https://www.youtube.com/watch?v=4SzQimeHGjk&list=PLG-cFxyNs94VFAv_l_aW0lOpRxrCtPum6&index=4&t=0s
Part 4: https://www.youtube.com/watch?v=vTboKA-y_So&list=PLG-cFxyNs94VFAv_l_aW0lOpRxrCtPum6&index=5&t=1104s
Part 6: https://www.youtube.com/watch?v=Gu8smLhXkuo&list=PLG-cFxyNs94VFAv_l_aW0lOpRxrCtPum6&index=7&t=1s
Part 7: https://www.youtube.com/watch?v=4MH9y03B2JM&list=PLG-cFxyNs94VFAv_l_aW0lOpRxrCtPum6&index=8&t=0s

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