this is literally the first time someone suggests my way of trading ;) as peoples usually ignore the fact that the target is actually in the future, and we can not really see what the future brings. the issue i have with TMP is mainly that i not really want to risk the loss of potential gains on that very point and usually exit the trade at it, but have no issue at all re-entering fast once things do develop properly, re-entering is a lower risk to reward ratio, but basically its putting gains at risk that where already on the account at that point. so if the stop (at its original position) is then hit, that means the loss will be the same as the larger distance to the stop will be paid for by the previous gain.
I started making money on a regular basis when I also rewarded myself when I am right. Meaning, take some profit off the table when the trade is running my way while taking down risk. Are you in the game to make money, or in the game to be a champ?
Very insightful. And completely the opposite of what those con artists try to convince you, like you shoul have your SL in TP set when entering a trade and then just wait and as long as your RR ratios is more 1:2 you will be fine. Thank you very much for all your videos!!
🔹 Get FREE access to the Duomo Trader Development Program: duomotrading.com/FreeDuomoTraining 🔹 Add us on Instagram: instagram.com/duomoinitiative/ 🔹 Our second channel for financial news and analysis: th-cam.com/users/MarketMoversFinancialNewsandAnalysis
What are you're thoughts on Moving risk reward up as price increases to new levels based on new stops compared to original projected price? For example your new stop is at a level where if it were to activate you would lose 3% but you have another 1% to go before your target is hit. is it worth staying in that trade although The risk reward of the price is now at 0.3R? Is that a good way to manage the trade. you would never get to your projected level because r would always fall below 1R
Hi Nicholas, quick question , been very handy using your fibonacci retracement methods but why is it that you don't trade the C point? So if theres a pinbar of a significant level which is the C point , would you not enter a trade there? Or do you always wait for the D confirmation then make the trade? Keep up the content , i'm learning more with each video!
Hi Jordan, We don't trade the retracements as there is too much uncertainty. We have a video that goes into more detail - th-cam.com/video/0E3RYcciHPQ/w-d-xo.html - Harley
Hi Harley, thankyou so much for that helpful link, you dont understand how much difference this actually makes to my trading, i literally was making the mistake nicholas pointed out clearly. I always try and trade the c point but its always hit and miss, so now i know only to trade the D points, thankyou!
Nich here is my situation and i would love your advice, i am 18 and i have been studying forex since i was 16, i work full time for a bank and i currently earn about £1,800 a month on average after tax. I started trading with real money 4 months ago as i was consistently profitable for 8 months in my demo account. I have made between 9%-18% every month now for 4 months i have been very careful and use a lot of your tips in my trading, this means i am now making over £2,000 a month from forex and i really want to quit my full time job and if i can continue to make 9%-18% a month after a few years i should have a huge account? Am i thinking right nich?!?! P.S (i dont mind if you use my comment in one of your videos as i feel you could have a lot to say about this)
Unfortunately due to time constraints it's not something I'm able to do. You definitely have it in you to learn on your own with online resources (including our channel) and to make a success of it. We're here to help you along the way if you have questions and there's a great community spirit amongst people that watch our videos too, so there will always be someone around to help you out.
this is literally the first time someone suggests my way of trading ;)
as peoples usually ignore the fact that the target is actually in the future, and we can not really see what the future brings.
the issue i have with TMP is mainly that i not really want to risk the loss of potential gains on that very point and usually exit the trade at it, but have no issue at all re-entering fast once things do develop properly, re-entering is a lower risk to reward ratio, but basically its putting gains at risk that where already on the account at that point. so if the stop (at its original position) is then hit, that means the loss will be the same as the larger distance to the stop will be paid for by the previous gain.
I started making money on a regular basis when I also rewarded myself when I am right. Meaning, take some profit off the table when the trade is running my way while taking down risk. Are you in the game to make money, or in the game to be a champ?
Very insightful. And completely the opposite of what those con artists try to convince you, like you shoul have your SL in TP set when entering a trade and then just wait and as long as your RR ratios is more 1:2 you will be fine. Thank you very much for all your videos!!
Very Clear and precise. Thanks Nick.
🔹 Get FREE access to the Duomo Trader Development Program: duomotrading.com/FreeDuomoTraining
🔹 Add us on Instagram: instagram.com/duomoinitiative/
🔹 Our second channel for financial news and analysis: th-cam.com/users/MarketMoversFinancialNewsandAnalysis
Very useful advise. Thanks Nicholas!
You made a lot of sense. Thank You Very Much.
08:20, I heard it as "put your money where your mouse is'. 😁 😁 😁
Correct. Hamsters are ok too.
What are you're thoughts on Moving risk reward up as price increases to new levels based on new stops compared to original projected price? For example your new stop is at a level where if it were to activate you would lose 3% but you have another 1% to go before your target is hit. is it worth staying in that trade although The risk reward of the price is now at 0.3R? Is that a good way to manage the trade. you would never get to your projected level because r would always fall below 1R
Thanks Nicholas.... keep it up. Too bad I can't get to your forum
You are amazing, give us more videos.Greetings from Greece!
you did the video you promised!
I aim to please! 😀
Do you look at 1m chart when trading 5m for momentum?
useful tips thanks.
Hi Nicholas, quick question , been very handy using your fibonacci retracement methods but why is it that you don't trade the C point? So if theres a pinbar of a significant level which is the C point , would you not enter a trade there? Or do you always wait for the D confirmation then make the trade? Keep up the content , i'm learning more with each video!
Hi Jordan,
We don't trade the retracements as there is too much uncertainty. We have a video that goes into more detail - th-cam.com/video/0E3RYcciHPQ/w-d-xo.html
- Harley
Hi Harley, thankyou so much for that helpful link, you dont understand how much difference this actually makes to my trading, i literally was making the mistake nicholas pointed out clearly. I always try and trade the c point but its always hit and miss, so now i know only to trade the D points, thankyou!
thanks for the videos, god bless you!!!!
Hello what trading platform do you use in the UK and have you invested in Litecoin?
Nich here is my situation and i would love your advice, i am 18 and i have been studying forex since i was 16, i work full time for a bank and i currently earn about £1,800 a month on average after tax. I started trading with real money 4 months ago as i was consistently profitable for 8 months in my demo account. I have made between 9%-18% every month now for 4 months i have been very careful and use a lot of your tips in my trading, this means i am now making over £2,000 a month from forex and i really want to quit my full time job and if i can continue to make 9%-18% a month after a few years i should have a huge account? Am i thinking right nich?!?!
P.S (i dont mind if you use my comment in one of your videos as i feel you could have a lot to say about this)
How do i go about getting you to mentor me on a more 1/2/1 plz?
Unfortunately due to time constraints it's not something I'm able to do. You definitely have it in you to learn on your own with online resources (including our channel) and to make a success of it. We're here to help you along the way if you have questions and there's a great community spirit amongst people that watch our videos too, so there will always be someone around to help you out.
Can you make shorter videos ? Like straight to the point with explanation ofc but lesser examples. Thanks !
We'll take your feedback on board.