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Forex Focus EP 44- Ego vs. Identity: Who Are You Without Your P&L?

Forex Focus: Insights and Strategies to Sharpen Your Trading Mindset and Stay Ahead in the Forex Market

Forex Focus EP 44- Ego vs. Identity: Who Are You Without Your P&L?

Table of Contents

In trading, one number can change your mood, your confidence, and for some, your entire identity, but what happens when you remove the numbers?


What’s left of you without the green days, the payouts, or the perfect entries?

In this episode of Forex Focus, Reah and Nick dive into one of the most confronting questions a trader can face:


Who are you without your profit and loss statement?

Is your worth defined by your wins? Or is it built on something deeper, like your values, your discipline, and your commitment to growth?

Let’s break down ego, identity, and how to detach from the need for external validation, so you can become the kind of trader who lasts.

“When you take away the money, who are you, really?”

It’s easy to feel confident when you’re stacking wins, but how do you show up when the account is red?

Reah asked a powerful question:

“Can you still be confident, disciplined, and focused when you’re not making money in trading?”

For many traders, the answer is no, because they haven’t separated performance from identity. When your sense of worth rises and falls with your P&L, every losing streak becomes a personal crisis.

Nick shared how this mindset can leak into your everyday life:

“When you’re in a drawdown, you start acting weird around people. You’re not yourself. And if you try to explain why, they don’t get it.”

This emotional spiral doesn’t just damage your mental health, it affects your judgment. You start overtrading. Ignoring rules. Risking more than you should, just to feel like a winner again.

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The Signs: When Ego Takes Over Your Trading

The team broke down clear signs that ego, not discipline, is running your trades:

  • Overtrading after a loss to prove something (to yourself or others)

  • Ignoring your stop loss because “this time feels different”

  • Holding on too long to a bad trade instead of cutting your loss

  • Chasing validation from friends, family, or social media

  • Equating your worth with recent wins or losses

This ego-driven trading leads to poor decisions, bigger losses, and a fragile mindset. As Reah put it:

“You start marrying trades you should’ve divorced 100 pips ago.”

Performance Identity vs. Value Identity: What's the Difference?

Performance-based identity is built on outcomes. You feel good when you win, and terrible when you lose. Your self-esteem rides the rollercoaster of your account balance.

Value-based identity, on the other hand, is rooted in who you are and how you show up, regardless of the result.

Nick explained it simply:

“With a value-based mindset, you show up consistently. Whether you’re in profit or not, you stick to your plan. That’s what matters.”

Reah added:

“I’m not amazing because I made $3,000. I’m amazing because I’m committed to my growth and discipline, no matter what the outcome is.”

Why Most Traders Fail, and What the 10% Do Differently

It’s no secret:

90% of traders lose 90% of their money within 90 days.

Why? Because they’re outcome-obsessed. They’re chasing performance. They’re rushing. They’re emotionally entangled in every trade.

The traders who make it aren’t necessarily more talented. They’re just more stable. They have a system, they trust their process, and they detach from short-term results.

5 Practical Steps to Detach from External Validation

Reah and Nick outlined several daily habits traders can adopt to shift from ego driven to value-driven trading:

1. Journal both trades and emotions

Write down what you were feeling before, during, and after your trades. Self-awareness is the first step to emotional control.

2. Celebrate execution, not just wins

Did you follow your rules? Stick to your stop loss? Respect your risk limits? That’s a win, even if the trade didn’t go your way.

3. Risk only what you can emotionally afford to lose

This isn’t just risk management, it’s psychological safety. Don’t put your peace of mind on the line.

4. Stop trading for validation

You don’t owe anyone screenshots. You’re not on this journey to impress your friends or prove your haters wrong. You’re here to grow.

5. Stay plugged into life

As Reah said:

“We trade to live, we do not live to trade.”
Take time to do things you enjoy. Step away from the charts. Your identity is bigger than trading.

Final Thoughts: Ego Quiet, Identity Loud

If you’ve ever felt worthless after a losing week, or felt invincible after a few wins, pause. Ask yourself:


Am I building my trading identity on numbers, or on values?

Trading with ego is reactive, emotional, and short-lived. Trading with identity is steady, resilient, and built to last. So, as you go into this week, carry this mindset with you:

 “I’m not my last trade. I’m my consistency, my discipline, and my growth.”

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