Free Online Trading Psychology Training by PhD Psychologist Trader

FTMO Trader Scouting


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Heard of Walter Peters PhD, trader and psychologist? Well, anyway...

Walter is soon going to be running some kind of webinar that may be useful to many traders. Naturally it will be an opportunity for him to promote some new course or something, but he will still be providing for free some quite useful ideas that you may find helpful.

Walter is a young chap, originally American, who now lives in Sydney, Australia. (Can't be too bad, he obviously saw the light.) ;) He has been around the traps in trading for a while. He is the author of a book called Naked Trading.

If you're interested you can find out more here:
  • General Info about Walter:
  • His blog with short videos:

I think the only way you'll actually find details about the psychology webinar is to watch one of his very brief videos currently listed on his blog front page. Following the video an invitation should appear. I believe the webinar (or webinars?) will run on 18 and 19 June, so get a wriggle on, be an action taker.

Walter is a real surfie and is very laid back and casual. His style probably appeals mainly to the young. But don't let this put you off, he does actually know what he's talking about.

I will attach a PDF of a mind map he wants people to look at before the webinar. Maybe it will get you thinking. :)


  • YourPsychology.pdf
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Walter's webinar focused on some findings from neuropsychology. He briefly explained the value of literally getting your head right, that is, being able to properly tune in to enable best performance. For example, he addressed the following.


Do you know what the ideal state (or brainwave frequency) is and how to enter it? You do... that's great. Can you apply it effectively to your trading. I hope so.

He also explored the impact on our success from our prior programming as established in our beliefs. Many of these are our core beliefs and we may very well be quite unaware of them, or perhaps just not fully appreciate how extensive they are in number and effect. A review of the attached diagram below may help you to think about this in general terms.

Walter is of course selling a program that aims to help people in this very important area. At the end of the webinar when he was making his pitch and was answering questions from attendees, I noticed that he was asked whether any of his trading systems/methods would also be covered in the course. This despite the fact that he had not made a single reference to such things throughout the entire webinar. Amazing really, but not actually surprising.

The unfortunate reality is that no matter how many times people who know spell it out that trading is all about psychology, people just want technical analysis, systems and methods, the latest crumbs from someone else's table (their current or latest guru), or even just a great entry technique. They actually feel superior and advanced when they add some kind of money management, as though this were somehow a badge of seniority.

Remember, your beliefs shape who you are and effectively limit what you can do or achieve. You do have many, many beliefs. If you are unable to identify them, evaluate their impact and modify them if necessary then you will not be able to grow, develop and achieve as you otherwise might. Very, very few people are natural traders, seemingly gifted with a suitable mindset grounded on a set of beliefs ideally adapted to the demands of trading. Unless you are one of them I suggest you plan to take some action to address this key area.


  • ImpactOfBeliefs.jpg
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Completely different source, but here's an article for those struggling with over trading.
FTMO Trader Scouting