i actually think about this differently... you really need to compete against yourself. take 10 trades, look at what worked\what didn't, then apply learnings to the next 10, repeat, etc. until you are just doing the same thing. that's the edge and that's where the discipline comes in.
This. Make your trading as repetitive and boring as possible. Find a couple good setups that you feel good taking, find out your win rate with those setups, and just master trading them. You’ll literally get to a point where you have no hesitation or fear trading those setups because you know exactly what to expect if it fails or doesn’t.. Less is more.
this maybe right, but it may also be wrong cuz the market will always improvise. i think sometimes it is right to take the initiative to follow the trend of the market. although i'm just a rookie in this market.
can't believe this vid only as 14k views, one of most informative and realistic videos I've watch on the markets while scammers whose promises are impossible, gets millions of views.
Thank u Nick. That's a clear and precise perspective. Traders often get frustrated and often want to trade even when when there's no opportunity. I'd say wait for the trade setup and execute only when you see that otherwise stay on the side lines. One thing I've learned over time is the importance of time when placing trades
its interesting that jason shapiro does exact opposite he trades against most crowded assets, i love that if u are dedicated u can make lot of strategies work, even in book market wizzards there are trades which makes money with exactly opposite strategies
The more successful the trader is and the more money he’s earned through trading makes his mental hurdles smaller to jump over. My point is psychology is more of an issue for the inexperienced and struggling trader. This is just from my personal experience. I think a successful trader needs to have all three areas to be strong 1. Skills 2. Risk Management 3. Psychology - it’s like a three legged stool without a leg the stool won’t stand.
Well said, Nick. I've been doing research on fx for the past 6 years. And it still surprises me till today how *very efficient* the market is. You could scarcely take advantage of any irregularities or patterns for any considerable time. Like you said, it's down to small, consistent gains, over a long period of time.
I have lost about 25k in 3 years and all i needed to know is buy cheap use s stop lost and never sort the market, the problem with people like me is that you never play small because we are already small traders, at least i never stop working but now i dont have that much money, I wish to get a funded accound here in uk so i know where to enter and where to exit and how much money I’ll be willing to lose i just dont know what is gonna happen after the us elections
Most traders fail at trading because of trading on fomo, not having a risk management in place, trading everyday, and greed and more different reason etc…
Botton line... it's not meant for you to win and profit. Tori said it best.....these trading platforms are meant to take your money. Not give it out. You have to outsmart the system you're trying to beat. And most won't win.
Correct, that's why they say... higher the time frame higher the probability is. We can't beat big money we need to follow their direction...BUT big money also uses the same ideas as anyone else but they have more money and that's all. If you know wallstreet guys, firms they will tell you how it works in reality. It's not what people think....
In reality.... following the smart money, is next to impossible, at least in consistent terms. It's like you are following an ambulance on a public road on your private van. You and they have a van. Still, ambulance has priority lines and no traffic signals. It's all too good to be true. But everything is in money management. When you win , win big. When lose , loose small.
Trading is easy what is hard is to get to the point where you are profitable consistently. I’m struggling with that. I’ve been trading for two years and the first year I didn’t lose much money. The second year I’ve been just breaking even with a positive P&L finally. Getting better
This makes no sense unless said smart money can actually control the price in ways that knock less skilled traders out of the market. At that point, you are talking algorithmically delivered price action. Yup, that’s why it is so hard to make money! The Algo price action is designed to make it hard so the mega-corp on the other end of your trade makes the moulah at your expense. You don’t trade against hedge funds. If you lose, the hedge funds make no more money.
@@jtrades_ no, for example the strategy is about trendline breakout, if you understund when exactly the breakout is good enough to take it you will be profitable. the strategy itself 'trading breakout' isn't the issue .
Nick… you clearly don’t understand the market. As much as the market is efficient and difficult. It is overall cyclical like the seasons. Cycles are not hard to track
This continuous fallacy that hedge funds and big banks know it all is overrated. Talk to someone like Kathy Lien who has worked in big banks and she will tell you most close a lot of trades with around 10-20pips profit but with huge volume. They also employ hedging strategies that also offset losses that are bound to come. The less people think of these so called SMC bs then they will start making profit.
Thx for the videos Nick. Next time you get a nice $50k month... go drop $50 of it and treat yourself to an iron. Looks like that shirt has been living in your car. 😛
Resources mentioned in this video: FX Broker for Non-US traders: tinyurl.com/htcdat5u Deposit Bonus for NON-US traders: tinyurl.com/yc77wudc FX Broker for US traders: tinyurl.com/ydhwsz2c Webull (stocks/options/futures): tinyurl.com/mpsxbssn
So essentially, It's a market that is largely out of your control; The big boys playground that happens to be well maintained and moves with these players? and your trying to carve out a small piece of the pie that you can come back to again and again? off the backs of these player's movements? Your trying to read the market for where these guys are gonna go; because the market movement is largely dependant on where these players go?? due to available funds and 'influence' and your trying to ride their small wave, to gain some small consistent profits that compounds over time?? Which is where the difficulty and discipline comes from and is essential? And this is of course difficult.
I was doing good until the Trump pump. Who knew that I was supposed to go all in on garbage stocks and bet on.....bank deregulation in late cycle? Wow. Did NOT expect this and it hurts. Also show your beautiful face more often
I encourage skepticism about trading, and have done my best to showcase by example what I believe traders should ask any content creator for. th-cam.com/video/bEkfJdZo6ng/w-d-xo.htmlsi=JqoDRU_G-V0kCZIx
I did with an demo account consistently between 10-15% a month and after 7 months I doubled the money without any experiences. I just had some understanding of the market and just went in on major events where I was like 100% sure. Over 81% of my trades closed in profit with SL. Can I consider myself as a good trader? I'm still lacking confidence to go in with money and also don't have that much where I would be like yeah whatever😢😅
i actually think about this differently... you really need to compete against yourself. take 10 trades, look at what worked\what didn't, then apply learnings to the next 10, repeat, etc. until you are just doing the same thing. that's the edge and that's where the discipline comes in.
This. Make your trading as repetitive and boring as possible. Find a couple good setups that you feel good taking, find out your win rate with those setups, and just master trading them. You’ll literally get to a point where you have no hesitation or fear trading those setups because you know exactly what to expect if it fails or doesn’t.. Less is more.
Correct sir l like ur way of thinking.
this maybe right, but it may also be wrong cuz the market will always improvise. i think sometimes it is right to take the initiative to follow the trend of the market. although i'm just a rookie in this market.
can't believe this vid only as 14k views, one of most informative and realistic videos I've watch on the markets while scammers whose promises are impossible, gets millions of views.
that boat analogy is actually v smart
so much info in this video, thank you
Trading is a game of %age and follow the foot print of the institutions.
Love this episode
Thanks
Thank u Nick. That's a clear and precise perspective. Traders often get frustrated and often want to trade even when when there's no opportunity. I'd say wait for the trade setup and execute only when you see that otherwise stay on the side lines. One thing I've learned over time is the importance of time when placing trades
its interesting that jason shapiro does exact opposite he trades against most crowded assets, i love that if u are dedicated u can make lot of strategies work, even in book market wizzards there are trades which makes money with exactly opposite strategies
The more successful the trader is and the more money he’s earned through trading makes his mental hurdles smaller to jump over. My point is psychology is more of an issue for the inexperienced and struggling trader. This is just from my personal experience. I think a successful trader needs to have all three areas to be strong 1. Skills 2. Risk Management 3. Psychology - it’s like a three legged stool without a leg the stool won’t stand.
Well said, Nick. I've been doing research on fx for the past 6 years. And it still surprises me till today how *very efficient* the market is. You could scarcely take advantage of any irregularities or patterns for any considerable time.
Like you said, it's down to small, consistent gains, over a long period of time.
Accept the outcome while following the smart money steps... Risk small and maximize your wins... Key take aways very helpful nick
I have lost about 25k in 3 years and all i needed to know is buy cheap use s stop lost and never sort the market, the problem with people like me is that you never play small because we are already small traders, at least i never stop working but now i dont have that much money, I wish to get a funded accound here in uk so i know where to enter and where to exit and how much money I’ll be willing to lose i just dont know what is gonna happen after the us elections
Absolutely. My goal is the be the best bottom feeder that I can. In a sea of vast riches, there’s enough for a fish like me :)
the reason it’s so hard is nobody gots patience to watch it 3000 hrs a year
Most traders fail at trading because of trading on fomo, not having a risk management in place, trading everyday, and greed and more different reason etc…
I needed this video started hating myself thought i was stupid
Botton line... it's not meant for you to win and profit. Tori said it best.....these trading platforms are meant to take your money. Not give it out.
You have to outsmart the system you're trying to beat.
And most won't win.
you do not have to outsmart ... just follow the footprints
@@aniketgupta4407 You follow the footprint?? How's it working out?
06:55 Had to giggle about "Big Girls" in the Market lol. Like that Boat analogy.
Boss video Nick, I really enjoyed it and got a lot out of it 👍🏼 😀
Very good and realistic video
Correct, that's why they say... higher the time frame higher the probability is. We can't beat big money we need to follow their direction...BUT big money also uses the same ideas as anyone else but they have more money and that's all. If you know wallstreet guys, firms they will tell you how it works in reality. It's not what people think....
In reality.... following the smart money, is next to impossible, at least in consistent terms.
It's like you are following an ambulance on a public road on your private van. You and they have a van. Still, ambulance has priority lines and no traffic signals. It's all too good to be true. But everything is in money management. When you win , win big. When lose , loose small.
You don't have to beat the best players at the table you just to be high enough on the leaderboard to make a living
That is why market sentiment is so crucial, to have an idea what other banks are looking at.
Putting in the time. It's cruel out there, dog eats dog. Risk management and confidence tell.
The best trading video i ever watched
You finally agree with ICT.
for you th-cam.com/video/CGD630xxH2E/w-d-xo.htmlsi=gkCvquJkJ0O4UU4j
Best man ever
the video starts at 3:35
you right bro I brought my challenge from 93k to 100k usdcad rate cut then came down to 92k
very hard
I use baseball as an analogy for how to improve psychology... in my book: How to win at trading by striking out less. 😉
Hey I asked you about your thoughts about the EMH a while back
I agree with your take its a half truth
Trading is easy. Stop using strategies with low winrates. They give you more stress. Risk less too.
😂😂😂😂😂😂😂😂😂
and sometimes the market just wont move 😢
Trading is easy what is hard is to get to the point where you are profitable consistently. I’m struggling with that. I’ve been trading for two years and the first year I didn’t lose much money. The second year I’ve been just breaking even with a positive P&L finally. Getting better
This makes no sense unless said smart money can actually control the price in ways that knock less skilled traders out of the market. At that point, you are talking algorithmically delivered price action.
Yup, that’s why it is so hard to make money! The Algo price action is designed to make it hard so the mega-corp on the other end of your trade makes the moulah at your expense.
You don’t trade against hedge funds. If you lose, the hedge funds make no more money.
So is tori trades legit then? She uses something "absurd' like you said trendlines
it isn't about the startegy, it's about indrrstunding the strategy.
@@imad0926 you just said the same thing twice lmao
@@jtrades_ no, for example the strategy is about trendline breakout, if you understund when exactly the breakout is good enough to take it you will be profitable. the strategy itself 'trading breakout' isn't the issue .
She is definitely legit. I can tell
that is your opinion
Nick… you clearly don’t understand the market. As much as the market is efficient and difficult. It is overall cyclical like the seasons. Cycles are not hard to track
Bro listen we try to follow the gaint quants but the thing is its quant vs quant and for some reason you're always on te losing quants side
This continuous fallacy that hedge funds and big banks know it all is overrated. Talk to someone like Kathy Lien who has worked in big banks and she will tell you most close a lot of trades with around 10-20pips profit but with huge volume. They also employ hedging strategies that also offset losses that are bound to come. The less people think of these so called SMC bs then they will start making profit.
Thx for the videos Nick. Next time you get a nice $50k month... go drop $50 of it and treat yourself to an iron. Looks like that shirt has been living in your car. 😛
I’m currently living out of a car so that’s probably why!
Resources mentioned in this video:
FX Broker for Non-US traders: tinyurl.com/htcdat5u
Deposit Bonus for NON-US traders: tinyurl.com/yc77wudc
FX Broker for US traders: tinyurl.com/ydhwsz2c
Webull (stocks/options/futures): tinyurl.com/mpsxbssn
So essentially, It's a market that is largely out of your control; The big boys playground that happens to be well maintained and moves with these players? and your trying to carve out a small piece of the pie that you can come back to again and again? off the backs of these player's movements?
Your trying to read the market for where these guys are gonna go; because the market movement is largely dependant on where these players go?? due to available funds and 'influence' and your trying to ride their small wave, to gain some small consistent profits that compounds over time?? Which is where the difficulty and discipline comes from and is essential?
And this is of course difficult.
Not agreed
Every body in market want to make money is pure psychology!
Why are you just wasting time on non essential topic.
I was doing good until the Trump pump. Who knew that I was supposed to go all in on garbage stocks and bet on.....bank deregulation in late cycle? Wow. Did NOT expect this and it hurts. Also show your beautiful face more often
Wtf is that an isf... lol
This is complete bullshìt.
What exactly?
@@TraderNick The idea that trading is hard because of competition. Just trust you bro.
It’s all easy, no competition, trust me bro!
@@TraderNick Exactly. You're full of shìt, and have no evidence supporting your bullshìt.
I encourage skepticism about trading, and have done my best to showcase by example what I believe traders should ask any content creator for. th-cam.com/video/bEkfJdZo6ng/w-d-xo.htmlsi=JqoDRU_G-V0kCZIx
blah blah blah
Trading is easy a 5th grader can do it
I did with an demo account consistently between 10-15% a month and after 7 months I doubled the money without any experiences. I just had some understanding of the market and just went in on major events where I was like 100% sure. Over 81% of my trades closed in profit with SL. Can I consider myself as a good trader? I'm still lacking confidence to go in with money and also don't have that much where I would be like yeah whatever😢😅