Learn to Think Like the 1%

Inspired by the trading psychology talk “Why Normal Doesn’t Make Money” by Tom Hougaard, the author of Best Loser Wins.

It's only when you hold this up against your own behavior as a trader that you see where it goes wrong — not in what you know, but in how you think and act when it matters. For a long time I thought growth was about more knowledge and better setups, but what Hougaard is really pointing at is mindset. The masses try to avoid loss, while the 1% accept loss as part of the game. As a result, they trade more patiently and with greater discipline, without the internal struggle. Where most traders keep searching for certainty, the 1% have already accepted that it doesn't exist. They don't enter because everything lines up perfectly, but because their plan calls for it. Doubt is still there, but it doesn't dictate what they do. The biggest difference shows up in how profit and loss are handled: the masses take profits quickly and let losing trades run; the 1% do the opposite. That takes working systematically and the ability to observe your emotions without acting on them — fear and euphoria aren't triggers, just feedback. In the end it all comes down to ownership: no excuses, no external factors, just ownership of every decision. The market does what it does; the question is what you do. The 1% don't think in terms of being right, but in probabilities and consistency. And if I bring it back to the core: the masses try to control the market, the 1% learn to control themselves. That's the game.

“Don't wish it was easier, wish you were better,” I learned from Jim Rohn, Tony Robbins' mentor — and it applies perfectly here. In other words: the results you want will come from the habits you still need to build.

Trading is more accessible today than ever—it does not get much easier than this. The difference isn't in technique, it's in mindset. Most people don't fail because of what they know, but because of how they think. Belonging to that 1% is therefore not a technical choice, but a mental commitment. And maybe the most honest test is this: can you go a week without a trade — or take one trade that fails — without it throwing you off? Can you stay consistent with your plan and your confirmation criteria regardless? Always? If you can, you're closer to that 1% than you think.

If you're still not yet getting a firm grasp on trading and aren't yet seeing the results you want, at the very least stick to my five rules for a rock-solid foundation. Also check out the recording below, where I demonstrate twelve setups over a one-week period in gold, during regular market hours with a relatively healthy trend. You'll see there that you only need one asset, one pattern, obvious key levels like yesterday's high/low, and a handful of setups to reach your trading goal. It's not about monitoring numerous assets, placing more trades, and extracting as much money as possible — it's about taking fewer trades and staying extremely consistent about it, because you have a system that works for you. Only then can you seriously start scaling up.

After a lot of trial and error, plenty of failing, and being thoroughly done with inconsistent results, that's the foundation I went back to as well: reversals around obvious key levels. Of those twelve possible setups, two a week is more than enough for me. Less is more.

So that's also my suggestion if you're struggling to get a grip on trading: go back to this foundation.

Twelve predictable reversal setups around obvious levels in gold during regular hours. Watch the recording here.
Also a short look at UK100, DAX, US30/100/500 and Gold. Watch the recording here.

Link to Tom Hougaard's talk: Why Normal Doesn't Make Money.

By the way, I noticed a TradingView "King's Day" promotion. I can't find the promotion myself anymore, but check it out for discounts of up to 80%.