A mistake (I told you I still make them!) in the video: - It was in the North Falkland Basin that they were drilling, not the North Sea as I stated in the video (I probably mixed them up with some other trash I held in the past). - Also the share price was £1.20 not £1.40, as you would have figured out by a 50% return on 80p! Have a great weekend, Nicholas
LOL before clicking on the video the title just shows... 'The time I finally stopped trading high'...I was like :O then I clicked on the video and saw the actual full title lolol
Gather around kids... Its Story Time with Uncle Mr. Manbearpig. You know when you watch a par-core video and so you think you are a badass?... Yep... Wolf of Wall Street, a bong(with wax), aviators, a half chewed cigar and a false sense of confidence. By the time it was all over I in the fetal position... Which is when I ran into this channel. It was the Trading Motivational video... now Im always sober when I trade and I put in alot of hard work before I do anything.(still wear my aviators though) PS: I gave up trading like 4 times... and it was only a Monday!!
Man thats a great story. Ive made most of my recent mistakes adding the thoughts of other peoples analysis to mine. Which isnt something i do. But i ended up considering their thoughts once or twice. Both times, the trades went in favor of my original idea. So absolutely stick to your own guns and ammunition (sorta speak). Ive learn tons of lessons. And do my best not to repeat them. Thanks great story.
Yeah same. Go out on your own, and don't enter a trade where you need an analyst/mentor to vouch for you before entering , not healthy and not good practice., it's when I do this and so stray from my strategy, that I eat away at my greens.
usd/mxn was good today. make sure to pay attention to financial news and research it a bit, be patient and grab a position that won't threaten your free margin. So far after a couple of months, I've being inching more to this strat. Thanks again Duomo for your wise words. Definitely be patient about these sort of things.
Excellent messages here Nicholas. It is so easy to lose a fair chunk of your account in very little time without adequate position sizing and money management. Cheers.
Hey bud, I just wanted you’re opinion on the change to leverage happening on the 1st of August , major pairs 30:1 and 20:1 on minor. After few years of trading I’m a profitable trader for about over year now and so still have a very small account and this low leverage will completely throw my risk management out the window ! What can we do ?
Hi Nicholas, I've been watching your videos. Thanks for the help and the insightful information. It's really a big help. I have a question about trade size and risk management i guess. I've been making regular trades with 1% of my account and some days i'm hardly making anything as the profit which one trade makes barely can cover the losses of another. Would it be more sensible to put a higher amount on one trade which I am more sure about and just take my daily or even weekly profit from this (meanwhile making the SL the equivalent of a loss of 3/4 smaller trades?)
very nice one ... but there is one thing about the learning curve .., especially in trading. The "near death" usually has a negative impact as people start to 'think' hey it works .. and then get really burned
True, in some situations that can also be the case. But that usually happens when people think it was skill rather than luck that led to them timing it the way they did. It also still may shock them into realising certain ways they're leaving themselves exposed.
Hey Nicholas! Love your videos! I have learnt a lot from them! I was wondering if you could do a video on how buying and selling of bonds by the government could impact currency value and the economy in general.
Just regular government bond issues. Because I'm aware that for example that China holds a lot of US gov't bonds and so does the public. So for example, what happens to the U.S. currency when and if the government chooses to buy back debts or when/if they decide to issue more into the market?
It depends on the market at that point in time as I switch my approach sometimes (also depending on my schedule for trading). Typically will be intra-day, but I also trade over a matter of days at times. I also take a portfolio approach over the long term.
Just catching up with your vids after my busy week. First lets say ughhh, been trading/investing around 7 months now, mostly on AIM (believe thats what youre talking about now), and am in some high risk investments. Literally my situation now is identical to the start of your career. Before i listen to any more (2:55 into the vid) im gonna guess what's going to happen as its what im going to change to my investing strat... AIM is just too high risk, FX is something you can monitor easier and TA easier, you dont have Bods in FX that will just fuck you over, you dont have placings constantly etc etc the list goes on. I am currently in the demo stage of my fx career creating a strat and back testing it, i will then move my money over from my shares account and mainly trade FX, however I will keep some in for long term investments as the returns can be brilliant. Sorry for the ramble ahha
Update - couldn't be nearer the truth, I got my first 'bagger' on thursday. However, friday there was news of rumour and my other share tanked. Before I continue on this video. Nicholas what would your advice be for me here? Literally am in an identical situation.
Hey Nicholas! if a broker that is regulated by the FCA in the UK, is it reliable enough? The issue is that they offer bonuses... and that's kinda suspicious to me
Make sure they are regulated by the FCA and not just registered. It's usually a good sign, but it's obviously not the only factor to consider. With all else being equal, it's a good start. (By the way - who's Christian??)
It doesn't mean the hedge fund guy was wrong, just unlucky. How often would a company come out and announce they found oil only to have confused it with water. Probably never happens. Which means the hedge fund guy still probably makes more money holding positions until production than he would lose.
Yep it's true. Though i think an announcement stating they've hit oil and going into production somewhat de-risks those punt stocks to a degree, though still risky none the less until they've actually produced the goods.
Is there a formula which we can use to calculate theoretically what is the optimal percentage of our capital to invest into trade if we know : example the trade is 50% : 50% chance but there is 1:2 risk to reward ratio. We only talking theoretically ? this is sort of standard situation , but if we risk to much we will blow the account, but if we trade to little then the profit will grow not fast enough ...again im talking about theoretical situation because we will newer know those details for 100% ....as a side note ....i was looking on the internet what is the world record of "in the row RED" in roulette (my English needs more work then my trading :) ) and i found ...32 :) somewhere RED came 32 times before next black ...i would call this : "Ultimate loosing or Winning streak" :) ..onlineroulette.org.uk/stories/record-reds-blacks-in-a-row/ ...Big fan of Your channel since i start watching your videos i stooped losing trades (i stopped trading i don't know enough yet ) :)
If you're talking theoretically, where you have the same amount at risk each time and the same potential reward, you can use the kelly criterion to calculate position size. This doesn't really work if you use a dynamic stop loss level and dynamic target though (like how we approach our trading).
🔹 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
Haha, thats why I keep to myself. If you more focussed on image you take your eye off the ball like those people that invested at the wrong time or for too long
Yuriy Matsevych nothing. 100 is No where need enough capital to trade. And you need to learn to trade as well. Use the 100 towards an education. First!
You can make it work with the right strategy, leverage, lot size and patience. I remember I made $100 in 3 weeks on a $22 account, trading the EUR/USD and .02 lot size. I would have made more if it wasn't for the Oanda's low (50:1) leverage. Now I use Tradersway
Gave up penny shares for BTC. I learnt to trade or invest with big money. They protect the mess of small money directors willing to steal the company increasing equity 1000% overnight. If BTC were a penny share by now the directors would have increased the equity to 500 million and BTC price would fall to $50.
![Are You Wasting Your Time With Your Trading? [Pareto Principle / 80-20 Rule] (Thought of the Day)](/img/n.gif)
A mistake (I told you I still make them!) in the video:
- It was in the North Falkland Basin that they were drilling, not the North Sea as I stated in the video (I probably mixed them up with some other trash I held in the past).
- Also the share price was £1.20 not £1.40, as you would have figured out by a 50% return on 80p!
Have a great weekend,
Nicholas
The Duomo Initiative - Financial Education 😂😂😂
Thank you so much for a good lesson
Loveeee these stories! You're literally adding experiences into our lives. So whatever you learned, we learned as well from it! Great vid!
LOL before clicking on the video the title just shows... 'The time I finally stopped trading high'...I was like :O then I clicked on the video and saw the actual full title lolol
Oh jeez! 😂 well I definitely don't recommend that either!
We actually just had to change the title because of that!
NEVER EVER TRADE HIGH!!!... Trust me on this one..
Mr. Manbearpig Story time...
I'm intrigued!
Gather around kids... Its Story Time with Uncle Mr. Manbearpig. You know when you watch a par-core video and so you think you are a badass?... Yep... Wolf of Wall Street, a bong(with wax), aviators, a half chewed cigar and a false sense of confidence. By the time it was all over I in the fetal position... Which is when I ran into this channel. It was the Trading Motivational video... now Im always sober when I trade and I put in alot of hard work before I do anything.(still wear my aviators though) PS: I gave up trading like 4 times... and it was only a Monday!!
Man thats a great story. Ive made most of my recent mistakes adding the thoughts of other peoples analysis to mine. Which isnt something i do. But i ended up considering their thoughts once or twice. Both times, the trades went in favor of my original idea. So absolutely stick to your own guns and ammunition (sorta speak). Ive learn tons of lessons. And do my best not to repeat them. Thanks great story.
Yeah same. Go out on your own, and don't enter a trade where you need an analyst/mentor to vouch for you before entering , not healthy and not good practice., it's when I do this and so stray from my strategy, that I eat away at my greens.
usd/mxn was good today. make sure to pay attention to financial news and research it a bit, be patient and grab a position that won't threaten your free margin. So far after a couple of months, I've being inching more to this strat. Thanks again Duomo for your wise words. Definitely be patient about these sort of things.
Love hearing these stories!
Excellent messages here Nicholas. It is so easy to lose a fair chunk of your account in very little time without adequate position sizing and money management. Cheers.
Love these stories, helps me rethink and reminds me of risk management!
Great story man, very interesting & relatable!
Love your work!
Hey bud, I just wanted you’re opinion on the change to leverage happening on the 1st of August , major pairs 30:1 and 20:1 on minor. After few years of trading I’m a profitable trader for about over year now and so still have a very small account and this low leverage will completely throw my risk management out the window ! What can we do ?
Nice one again Nicholas!
I remember this story!
great story ! ty x
Hi Nicholas, I've been watching your videos. Thanks for the help and the insightful information. It's really a big help. I have a question about trade size and risk management i guess. I've been making regular trades with 1% of my account and some days i'm hardly making anything as the profit which one trade makes barely can cover the losses of another. Would it be more sensible to put a higher amount on one trade which I am more sure about and just take my daily or even weekly profit from this (meanwhile making the SL the equivalent of a loss of 3/4 smaller trades?)
Use risk to reward ratio look it up!
Lesson learned.... Thank you!
very nice one ...
but there is one thing about the learning curve .., especially in trading.
The "near death" usually has a negative impact as people start to 'think' hey it works .. and then get really burned
True, in some situations that can also be the case. But that usually happens when people think it was skill rather than luck that led to them timing it the way they did. It also still may shock them into realising certain ways they're leaving themselves exposed.
Hey Nicholas! Love your videos! I have learnt a lot from them! I was wondering if you could do a video on how buying and selling of bonds by the government could impact currency value and the economy in general.
You mean in terms of quantitative easing/tightening? Or just the regular government bond issues?
Just regular government bond issues. Because I'm aware that for example that China holds a lot of US gov't bonds and so does the public. So for example, what happens to the U.S. currency when and if the government chooses to buy back debts or when/if they decide to issue more into the market?
I'm still burning my fingers air. Absolutely love the content
Thank you!
What is your average hold-time for your trades? Multi-day, several weeks?
It depends on the market at that point in time as I switch my approach sometimes (also depending on my schedule for trading). Typically will be intra-day, but I also trade over a matter of days at times. I also take a portfolio approach over the long term.
hi bro what do u suggest to make good money.
Just catching up with your vids after my busy week. First lets say ughhh, been trading/investing around 7 months now, mostly on AIM (believe thats what youre talking about now), and am in some high risk investments. Literally my situation now is identical to the start of your career. Before i listen to any more (2:55 into the vid) im gonna guess what's going to happen as its what im going to change to my investing strat... AIM is just too high risk, FX is something you can monitor easier and TA easier, you dont have Bods in FX that will just fuck you over, you dont have placings constantly etc etc the list goes on. I am currently in the demo stage of my fx career creating a strat and back testing it, i will then move my money over from my shares account and mainly trade FX, however I will keep some in for long term investments as the returns can be brilliant. Sorry for the ramble ahha
Update - couldn't be nearer the truth, I got my first 'bagger' on thursday. However, friday there was news of rumour and my other share tanked. Before I continue on this video. Nicholas what would your advice be for me here? Literally am in an identical situation.
Hey Nicholas! if a broker that is regulated by the FCA in the UK, is it reliable enough? The issue is that they offer bonuses... and that's kinda suspicious to me
Make sure they are regulated by the FCA and not just registered. It's usually a good sign, but it's obviously not the only factor to consider. With all else being equal, it's a good start. (By the way - who's Christian??)
Is it bad if I use all of my margin (600$ account) but put good stops and good take profits so that I'm not actually risking to much?
Your videos are awesome.
Thanks!
- Nicholas
It doesn't mean the hedge fund guy was wrong, just unlucky. How often would a company come out and announce they found oil only to have confused it with water. Probably never happens. Which means the hedge fund guy still probably makes more money holding positions until production than he would lose.
The point was more about the riskiness. A company that is so sensitive to a single high-risk project that it can make or break the company
Yep it's true. Though i think an announcement stating they've hit oil and going into production somewhat de-risks those punt stocks to a degree, though still risky none the less until they've actually produced the goods.
Is there a formula which we can use to calculate theoretically what is the optimal percentage of our capital to invest into trade if we know : example the trade is 50% : 50% chance but there is 1:2 risk to reward ratio. We only talking theoretically ? this is sort of standard situation , but if we risk to much we will blow the account, but if we trade to little then the profit will grow not fast enough ...again im talking about theoretical situation because we will newer know those details for 100% ....as a side note ....i was looking on the internet what is the world record of "in the row RED" in roulette (my English needs more work then my trading :) ) and i found ...32 :) somewhere RED came 32 times before next black ...i would call this : "Ultimate loosing or Winning streak" :) ..onlineroulette.org.uk/stories/record-reds-blacks-in-a-row/ ...Big fan of Your channel since i start watching your videos i stooped losing trades (i stopped trading i don't know enough yet ) :)
If you're talking theoretically, where you have the same amount at risk each time and the same potential reward, you can use the kelly criterion to calculate position size. This doesn't really work if you use a dynamic stop loss level and dynamic target though (like how we approach our trading).
Good story... guess winning by luck can be as good a lesson as losing by luck...
🔹 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
Haha, thats why I keep to myself. If you more focussed on image you take your eye off the ball like those people that invested at the wrong time or for too long
How much do you think i can end up in 7 years starting with 100$
150
Yuriy Matsevych nothing. 100 is No where need enough capital to trade. And you need to learn to trade as well. Use the 100 towards an education. First!
It all boils down to your strategy, find one that works for you, implement strict money management and watch your account double
You can make it work with the right strategy, leverage, lot size and patience. I remember I made $100 in 3 weeks on a $22 account, trading the EUR/USD and .02 lot size. I would have made more if it wasn't for the Oanda's low (50:1) leverage. Now I use Tradersway
There is a way to double your money, It's called leverage.
Lost about 60% on one trade in Crypto, luckily my account was tiny, nevertheless that lesson definitely stuck.
Bittrex P&D?
Gave up penny shares for BTC. I learnt to trade or invest with big money. They protect the mess of small money directors willing to steal the company increasing equity 1000% overnight. If BTC were a penny share by now the directors would have increased the equity to 500 million and BTC price would fall to $50.
I never had diluted shares by water lol!
you are one lucky bastard.
But bitcoin is different...
😛 (thats what they say!)
Bitcon is a Beast :p #Love
@@SCryptoTrader oops
discovered water in the sea hahahahahahahahahahahaha........
88E, ouch ! haha, sob sob :(
man at first I thought you were one of the dolan twins!
Floppy hair lmao. Hell yeah.
Your one of the best person I have ever seen, explaining market with this simplicity 🥲