EXTREME - Day Trading +1000% day
ฝัง
- เผยแพร่เมื่อ 28 ก.ย. 2024
- Day Trader Tom Hougaard - Trader Tom challenges the way you look at your day trading. This video was recorded Monday 8th March. We call it EXTREME Day Trading.
👉 How to be a successful day trader
👉 Trading Psychology
👉 Mindset of a Pro Trader
✅ Visit Tom Hougaards website: tradertom.com
✅ Follow my Telegram group for FREE trading signals daily - all day: tradertom.com/...
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👉 For more related videos on Trading Psychology & Day Traders Mindset:
• Psychology
👉 Videos about Scalping as a Day Trader:
• Scalping
#TraderTom #tradersmindset #TradingPsychology
You are my favorite person. Thanks so much for sharing all this! I have the exact same outlook on trading and am so tired of people thinking gaining only 10% a year is acceptable. Nobody's got time for that!
Thank you Curtis.
Lol I made 24% in September alone. 10% a year is dumb. If you’re not ok with risking 1000 why would you be ok risking 10? A good setup is a good setup regardless of size. Sizing is more of a mental issue.
@@ismaeljrp1 Exactly, I trade options and try and shoot for +10% each day. Crazy people wait all year just for a measly 10 percent in the SP500 lol, anything is possible in this market with right mindset and risk management
Hi Guys I am just starting to practice on the Sp500 and the strategy I learned is based on risk 1,25 points (stop loss), and set a target of 2 points. But I have been whatching this videos and what I understand (yo can correct me) is: set a stop loss, but try to get your target as higher as you can.. am I right?
Leverage is there for a reason!
I am a trader and this is such excellent advice. It's as if I was talking to myself. Only well seasoned traders will fully understand the concept that you are attempting to convey. Love you Tom
Almost anyone can understand this concept. Its said as simple and plain as can be 🙂
The part i really appreciate about it is, he said only about 20% of trading days are trending days.. or only about once a week.
Im fairly new, been studying 3yrs come April, but doing demo since end of 9/23.. and live 1/24, and back to demo also
@koollee Exactly the same as me literally started demo, sep 23, went live Jan 2nd now back to demo lol, we should connect!
Why the most valuable videos have the least views? Now you know why most people loose :)
Thanks Tom
That's a really good question. 👍 We hope you also find value in other videos on the channel. 🙏
@Trader Tom IMPOSTER ALERT
THIS MESSAGE IS VERY IMPORTANT - PLEASE TAKE 2 MINUTES TO READ IT - IT COULD SAVE YOU FROM BEING DEFRAUDED BY “ME” - i.e., an imposter claiming to be me.
Dear friends,
Today I learned that someone has created a TH-cam account called “Trader Tom” - which is close to my TH-cam account called “TraderTom”. It is simply a space between the two words that separate the accounts. He has also stolen my photo from my channel and is using it as his own.
Then he has gone into my TH-cam channel and is now posing as me. I will obviously put a stop to that, but people may mistake the real Tom Hougaard with the imposter.
Therefore, you need to know something about me and the business I run.
1/ I will NEVER charge for anything.
2/ I will NEVER encourage you to invest in anything.
3/ I will NEVER ask you to give me money.
If you are EVER in doubt about something, then don’t do it until you have contacted me privately. You can contact me on the following channels:
1/ email = hello@tradertom.com
2/ Telegram = “@TomHougaard”
I am doing what I can to shut the imposter down. I felt the first thing to do was to make sure that I posted here in Telegram to tell you that I am not selling anything, asking for money, giving endorsements to Bitcoin schemes etc, or providing a copy trading service.
Now you know.
Thank you for listening.
Tom
@@LennieClausen_dk Can you elaborate on who you are Lennie Clausen? I see you respond to all these comments as it you are Tom Housgaard. It's kinda weird. I assume you're an assistant but responding time after time as if you are Tom comes off strange. Perhaps organize it a bit better. Just my opinion.
@@LJPpro I don't respond as Tom. The message above is from Tom.
@@aakash2178 to answer your question to the point. Sadly not if you are based in India (which I'm assuming at this point) However if you do have offshore accounts you can but there are caveats to that. Perhaps you can apply the same principles you learn here to the SENSEX & NIFTY.
No Ads on any of the videos, this is indeed free treasure!
Thank you for doing this.
lol when traders TRY to youtube hahaha. I think we might missed the YT concept 😂
This channel is just all about our love and passion for trading - no more no less.
Just an observation: I think it's better when traders TRY to make a youtube channel and "fail". Than TH-camrs TRY to make a trading channel and fail.
@@LennieClausen_dk Exactly and for a successful trader it doesn't make much sense to try and hustle here on YT from scratch but you, good sir, are doing a great work by sharing pure knowledge gems.
thanks for the reply
good day
I’ve learned to understand this and am now making 300% every 3 months 😊
What do you trade ?
@@juakin-qw8vi SPX
People would say his argument is completely reckless but they fail to understand the man. Tom has trained and conditioned his mind to such a degree, it’s as if he has waged war against any and all forms of limitation. His mindset is so against the grain but it’s precisely what makes him truly a pioneer. He’s pushing himself beyond what is normal and those who have achieved greatness in their respected fields have done likewise. And he’s inviting us to take the journey with him. It’s beautiful and so powerful. Tom is a gift
terrific video and congrats on the 100+ point day. it takes time to scale up but your point about being more selective when you know you're going to come in with size is very true. thank you.
Thank you 🙏 Less than 45% can do it. Tom just wanted to make a point.
Finally someone that speaks strongly about the idea of having so much equity trapped and not exercising it in your account. I'm glad I am not hte only one that thinks this way. Thanks Tom!
Indeed but be aware it IS a double-edged sword.
You are incredible. Thank you and God bless you!
Thank you 🙏
I am a beginner trader and i have just completed 2 of your videos. Really hope i get to learn from you as one of my gurus is ur ardent fan! Thank you Tom for your beliefs in sharing knowledge ❤
If someone ask for your money to get their market alerts, they are not making out of their trading but profiting from your subscriptions. I believe Tom makes money from his trades and gives his alerts for free. He could not care less about profiting from his telegram alerts. He is basically putting his money where his mouth is.
Right on - and you can trade with whichever broker you like. But it makes sense to use the same broker Tom uses to get the stop loss right.
Tom Trader is a genius... I've watched your trading Psychology seminar... It blew me away... Thanks for sharing your knowledge and it appeals to me because I have a risk appetite as well.
Thank you 🙏 it is always nice to hear when our work is appreciated.
I'd like to say a big THANK YOU to Tom for sharing his trading gift with us all, i've joined his telegram channel months ago .
You are welcome, Andrew.
Love this video and you way of helping others in general! I keep losing from trading though. I know I need to work on my mindset and learn the theory before putting more money onto my account. My problem is without doubt my own mindset. You are a great inspiration and I hope to learn how to trade properly some day ;-)
Kenneth, I'm sure we were all told about trading psychology very early in our trading journey but we refused the fact or thought we were smarter and the big money was in this or that candlestick pattern or strategy. But you took a big step realizing your weak side.
Thank you tom for breaking the stigma of "conservative, safe" trading. Like you i never understood why people look down on winning big. Its like they WANT to be normal and afraid of big success (they prefer to stay in the comfort zone of 2-3% profits which wont get them anywhere)
This video really gave me a different perspective, thank you Tom!
You are welcome. And yes that was the purpose of the video.
now I have 678$ live account and starting from tomorrow I am going to trade with my live personal account and apply everything I learned from Tom . wacthing it for the 3rd time
Man I love giving my all!!! And I was never attracted to trading due to its safe play...but I am thankful to God and you Tom for this wealth of knowledge and way of life. MAN I LOVE IT!!
Your insight and philosophy is blowing my mind. Makes so much sense to me. You have unlocked the trader in me. Thank you.
@Trader Tom IMPOSTER ALERT
THIS MESSAGE IS VERY IMPORTANT - PLEASE TAKE 2 MINUTES TO READ IT - IT COULD SAVE YOU FROM BEING DEFRAUDED BY “ME” - i.e., an imposter claiming to be me.
Dear friends,
Today I learned that someone has created a TH-cam account called “Trader Tom” - which is close to my TH-cam account called “TraderTom”. It is simply a space between the two words that separate the accounts. He has also stolen my photo from my channel and is using it as his own.
Then he has gone into my TH-cam channel and is now posing as me. I will obviously put a stop to that, but people may mistake the real Tom Hougaard with the imposter.
Therefore, you need to know something about me and the business I run.
1/ I will NEVER charge for anything.
2/ I will NEVER encourage you to invest in anything.
3/ I will NEVER ask you to give me money.
If you are EVER in doubt about something, then don’t do it until you have contacted me privately. You can contact me on the following channels:
1/ email = hello@tradertom.com
2/ Telegram = “@TomHougaard”
I am doing what I can to shut the imposter down. I felt the first thing to do was to make sure that I posted here in Telegram to tell you that I am not selling anything, asking for money, giving endorsements to Bitcoin schemes etc, or providing a copy trading service.
Now you know.
Thank you for listening.
Tom
This is my first time seeing one of your videos. Bravo! Thank you for not selling the hype and being cautionary. Thank you for trading price action. I'm a follower!!
Welcome to the channel Ed 🙏
Thanks for the help. I've been watching your videos and other talks of yours for some time today after taking losses and searching for answers.. Glad I found your material. Your strategies and mindset makes a lot of sense to me. I don't think I'll be adding to losing positions in my daily trades any more.
You are welcome.
I think the live stream where Tom talks about Mental Game Plan and Behavior Modification
Might help you as well. I have posted a link with a timestamp - you might want to start it a few minutes before that.
th-cam.com/video/Q7bzo68PQZw/w-d-xo.html
I really enjoyed your video! I just found you tonight whilst perusing some videos on scalping. I do tend to be "all in" with my investments and have used as much as 50% on a single trade before but I also don't have delusions of grandeur concerning my trading skills. In fact, I'm my worst enemy when it comes to trading because I all too often second guess myself. I was immediately drawn to your honest about not having a constantly rising equity line. Rather, you shared transparently about having seen big losses as well as big wins. Too many people on TH-cam just blow smoke up everyone's butt trying to convince everyone that they have it all figured out and that they are ALWAYS making profitable trades. It's statistically impossible, I think.
So, thank you for your honesty and for this presentation. I'm trying to get better and this helps. Best wishes to you. Stay in the green!
Thank you for your comment Mike. And a good guess 90% of TH-cam traders are full of hot air.
I did it today. I only had a problem...didn't know when to TP, didn't trust double top on two different trades and lost all profits. But it was very interesting to fight my discomfort and add more to winning position.
*Excellent!!! Thanks you for the concise and to the point update, of the elements that mainstream media and the likes don't focus on.. I've been trying to grow my portfolio of $240k for some time now, my major challenge is not knowing the best entry and exit strategies... I would greatly appreciate any suggestions*
VENTURING, into trading with a PROFESSIONAL, trader Mr Morris he's signal is very exceptional. Making profit will be easier for you and he will also teach you how to analyse the market and achieve good profit . I've personally benefited from following Mr Morris trading tactics, made me $18,000 in a weeks period of trading , which speaks volumes about him
I'm a beginner where can someone reach Mr Morris.
*@morris1961 👈🏿^^^^^^that's it 人人人 "*
Trading as a newbie is quite stressful and discouraging but I'll linking up to your coach. This is useful info❤
OMG!!! you trade with him also. Honestly He's great skills and knowledge about the market. I enjoy full profit and easy withdrawal with no complains, trade with him is the best
What you helped me with is--- I have now realized that you don't know any more than I do about trading.. You just got bigger balls!!
👍
In trading first you need to know about reality.. And if you want to know what is reality.. You will have to become realistic... If you know what I'm trying to say. You are in reality. 🙏 .... The best teacher ever.. In this video👍👍.
🙏
the best .... :))))))))) :))))))))
Thank you 🙏
People tend to listen to fake promises, that is why we see a lot of nonsense TH-camrs and courses which have huge followers, my big advice is to listen to only profitable traders real professional ones, and don't lose time on anything but real knowledge, I love listening to Tom, and he speaks honestly from his heart and I have taken two important rules from him and I hope they will change my future trading edge.
I agree Mohammad. Most of the channels with huge followers are no more no less than marketers. There are some good channels out there with people who really want to share without selling a lot of BS. But these channels have less time to grow because people actually trade for a living.
I began training myself to risk 100% of my account with 30x leverage. Instead of a large account I began with 10 usd. No adding to positions, all in at one spot. More aggressive trading at every turn and hold or scalp. Learning to see how fast it would move so I could get used to how fast the gains or losses might be. Results varied in the beginning but I did eventually get consistently profitable. Very tight stop losses every trade, if I missed the trade I missed the trade. If I won, I WON the trade. I would never recommend doing this to a beginner. But I’d suggest doing a small amount that you’d never even notice you lost. You will learn a lot. This is my favorite way to trade. I do this daily.
After watch your videos about psychology of successful traders my view for analysis the charts and enter in trade is now completely different, it is really helping me a lot, Very thanks for sharing this valuable content.
You are welcome 🙏
mind blowing, what an amazing display of patience!
This was absolutely amazing. Hoping to see more videos from you. Really got into your channel lately.
bro you've single handedly changed the game for me thanks 💙
Thank you 🙏
TOM. I think i just found my mentor!
I feel exactly the same way you feel.
Thank YOU
I hope you noticed that Tom only trades like this when he is sure it is likely a trend day. He mentions most of the 4-5 patterns in some of the videos.
Finally a pro who understands this
Awesome vid. Thanks for sharing . . A must watch over and over. You hardly see elite players talk through the mental aspect wh is where boys and separated from men . .
Thank you 🙏
I have been so blessed by Dr D Paul videos. I am from South Africa we've been blessed by his teaching and investment to the industry in our country. He spoke so highly of you, Tom. I would have love to meet you one day
I liked this one and there is very good value in it, especially if someone is already more experienced. I didn't have a 1000% trade yet but I had last year a close to 1000% within 3 weeks and I took also lots of risk in some trades. Unfortunately I did not come back to trade aggressively like that but I will work on it again.. thx for this video!
you are welcome 👍 It's important that we do things at our own speed.
6 min in all it took to subscribe. thanks
Welcome to the channel. We hope you will find the content of value here.
This is what I'm looking for Tom, thank you so much for this Straight forward approach to teaching.
I still didn’t get why you traded German index with Danish Krones?
Amazing content. Can't wait to learn more from you. Thank You!
Wow, I aspire to be a trader like you. I am completely new to trading but glad I found your guidance through your channel. Thank you for your amazing work.
If I were you I would at least spent 50% of my time on trader's mindset. This playlist can do more for you than you can imagine today: th-cam.com/play/PLTIUSbN_V17W-c4gClZkfvnVT1bMDy5k6.html
@@LennieClausen_dk Thank you.
The first time I see your channel. I'm learning much from a few years, as I've not much capital to trade, and I do think what you say is great value. Personally I was thinking the same, after eating plenty of graphs: "Why should it be important to partly sell, when in a good trend, I was guessing that the opposite should be done, as, as far as I understand, with a trailing stop, the risk is lower and lower, then zero! Increasing tremendously the Reward/Risk ratio!". Your not alone to think like that anyway, and happily. Furthermore I'm also very pleased to understand better price action, for the way you managed your afternoon US TECH 100. This video is of an incomparable value (for me, but not only). Very great pedagogy, also for all the explanations highlighting the essentials details, leading to a thorough understanding of all the parameters. Mange tak for denne kvalitet!!!
🙏
26:36 classic bearish breaker block and bearish FVG rebalance short. It’s fascinating when different TA schools arrive at same bias. Which in essence says a lot more about psychology of the trader than technical analysis.
I agree totally. How many times have you pulled the trigger on 1% on shit trades.
When you are better waiting for the baller set up and trade. 5/10 %
If you commit to a trade and can wait you often get so much better results
As per Mark Douglas, the next trade is a random event. Even when we are very certain about a trade still the outcome may not be as per our wish. Do you still think it is good to risk 45% of your capital? 10% is ok if you are very confident but 45% is way too much to risk in a single trade. Ur perspective is also correct that if we risk only risk 1% of our capital, then 99% capital is idle.
Nice to discover you very early in Trading career. This is when I consider myself lucky and TH-cam pays off and bring that algorithm to where I need it to be. Here:D
Thank you so much. We hope you will find other content on the channel worth your time.
Thank you for your time!
🥂 Cheers
You are welcome. 🙏 We hope you also find value in some of the other videos on the channel.
WELL, this is a cornerstone for me. Each time I push through for longer wins they turn around. Each time I exit thinking the price will bounce off a support level, it goes right through it. It really all depends on your judgement of the market. If you know it can go further then ofc why exit earlier. For me, the real task is to figure out when it will roll, not a psychological issue.
Hi Dima, That is 100% sure a psychology fight you have. I bet no indicators or whatnot can help you here. I know that because I have spent years on exactly this issue.
I don't know you, I don't know what you trade and what timeframe you trade.
So let me share what I have been fighting for years (still happens but it is rare). Over the weekend I look back on all the trades from the week before... I have a color system so I can see where did I enter, where did I sl, where did I tp or partial tp a trades I saw but didn't take ... could be because I was in large size already or time of day.
So Monday I knew IF I had just keep my first sl ... and never touched it I would have had a great week. So I keep my sl ... it looks bad ... it looks even worse but I hold it to be sl out and see it go my way. Tuesday - My position seems to go against me ... and after Monday I just take 25-50% of what I had. You cannot lose banking profit. And you know exactly what happens it keeps going with no real chance to reenter. So Wednesday I have a good profit. From the day before I know, I should insist to keep my sl or be and I'm being taken out to see it fly my way for the rest of the day.
This is 100% sure mental f**kU*
You don't have to answer but I am darn sure this is exactly what you are fighting with
@@LennieClausen_dk Hello, thanks for a comprehensive reply. I guess we all have our own struggles. I trade crypto and tried different strats already. So far the best for me is to take 50-60% profit asap. Let the rest roll. And move stop loss to BE. I mean that might seem childish and not serious, but it works for me so far. I guess I'm a newbie. But that's the thing with Tom's strategy. It is better understood and used by experienced traders. What I personally got from it is not to hurry with closing my position. And I keep that in mind always. But weirdly enough, as I said before, it hasn't pay off much for me so far.
This is actually what I like
You are a great person. You are the %1.
Well Done. Well Struck !!
🙏
The bullet metaphor is great, thanks TT!
🙏
Your legacy will continue. many thanks.
@@tradertom9847 fake account 😒
Thank you so much 🙏 - We hope you found value in some of the other videos as well.
I'm reading the Charlie D book now. I can confirm it's a very good book so far and I would recommend it for sure.
👍 lol side note Tom said he had a signed copy for me. But now he has been in Denmark a few times the last few months and always forgets to bring it :-(
i have read your book "best loser wins" it changed my trading psychology for the better
Great video. While I don't trade anywhere near to those scales, it did make me realize I stop myself out. In spite of TA, in spite of what the patterns say, in spite of my gut feel of where things are heading which is generally in the ballpark, I get jittery and then bail. Food for thought I guess.
I think you just mentioned the main problem for most traders.
IMPOSTER ALERT
THIS MESSAGE IS VERY IMPORTANT - PLEASE TAKE 2 MINUTES TO READ IT - IT COULD SAVE YOU FROM BEING DEFRAUDED BY “ME” - i.e., an imposter claiming to be me.
Dear friends,
Today I learned that someone has created a TH-cam account called “Trader Tom” - which is close to my TH-cam account called “TraderTom”. It is simply a space between the two words that separate the accounts. He has also stolen my photo from my channel and is using it as his own.
Then he has gone into my TH-cam channel and is now posing as me. I will obviously put a stop to that, but people may mistake the real Tom Hougaard with the imposter.
Therefore, you need to know something about me and the business I run.
1/ I will NEVER charge for anything.
2/ I will NEVER encourage you to invest in anything.
3/ I will NEVER ask you to give me money.
If you are EVER in doubt about something, then don’t do it until you have contacted me privately. You can contact me on the following channels:
1/ email = hello@tradertom.com
2/ Telegram = “@TomHougaard”
I am doing what I can to shut the imposter down. I felt the first thing to do was to make sure that I posted here in Telegram to tell you that I am not selling anything, asking for money, giving endorsements to Bitcoin schemes etc, or providing a copy trading service.
Now you know.
Thank you for listening.
Tom
Do you suggest to add positions on options?
Thank you sir I m learning from video I m Indian trader please guide me I have loss lots of money
Thank you
One thing I've noticed with my trading journey is that as long as I've resigned to risk small percentages, my brain doesn't see the major opportunities to take massive profits. When I put more risk into each trade, it forces me to focus on price action, keeping my stops tight, and being available to opportunity. When I'm in "protect my capital" mode, my brain seeks to keep me OUT of risky trades. . .but without taking the risky trades, we CANNOT make money. We must embrace the risk.
@trader Tom you purely use only candles no indicators. Do you recommend any basic indicators for beginners
Love u trader tom.. you are jason statham of trading
🙏
Powerful info. Thank you.
Speaking as someone who chronically undertrades and is sometimes a complete chickenshit coward when it comes to trading... I worked through a logical path similar to your introduction in this video. For which, thank you because I personally need to hear the bullish side of a coin that I spend too much time on the bearish side of. For people who are not you, I would offer this:
Once we have evidence of a trading method with positive expectancy, the next step is to express that expectancy as often and as hard as possible without going bust on the times when it doesn't work. As said in the video, this is something that the overwhelming majority of conventional trading wisdom does not dig into. Depending on the individual trader, that might look like 2% after all, or 5%, 10%, or 45% per bet. But it doesn't HAVE to stay at 1% or 2%. Yes, the bigger the bets, the bigger the wins AND drawdowns will likely be, as described in the video. How much variance can a trader stomach? How survivable does a trader think he is, or want to be? How can his profitability stay ahead of his risk of ruin long enough to achieve some of his longer-term financial goals and allow him to scale back his risk and play more defensively in his retirement? With a notional 100k account, what will a trader do to handle losing 45% of it on one trade? Or wiping the entire account? Does that trader have more risk capital available (to fund the account again with another 40k at other times, as in the video)? Can he earn back the loss at his day job in a reasonable timeframe, in the worst case? Can he rely on himself under stress to trade the remaining 55% back up to the initial amount and beyond into profit? With a fast, aggressive day trading approach, such drawdown might be survivable or even infrequent but semi-routine.
I had previously realized the complementary part of your thesis that you mentioned at 7:50 -- instead of leaving 100k in a trading account (where it's vulnerable to various psychological temptations and non-trading risks), only leave enough working capital in the actual trading account, and park the rest in perhaps safer accounts/investments with varying ease of access, as you suggested. If I only plan to risk 5% at a time, then leave 10k or 20k in the trading account and trade the hell out of it, at 25-50% of that 10k -- but it's only 5% of the total 100k. If a trader has the ability to fund an account repeatedly with 40k after blowing it, then is a 45% risk trade on 40k ACTUALLY 45% risk on the total amount of risk capital the trader had all along, across all his accounts? If the trader can fund (or has previously funded) his account with 40k four times, then 18k risk of 160k TOTAL risk capital (which wasn't initially all deposited directly into the trading account) is 45% of the trading account only but 11.25% of the total risk capital. If, on the other hand, the funds in the account are the entirety of risk capital available, then the trader might stick to only risking 11.25% in the first place.
I'm not like you, and not sure how much I can or want to get close, but I know that I'm okay for now with many small, rapid-fire sequential bets (not in parallel). To use your bullet analogy, I personally work better with a rapid-fire low-caliber machine gun rather than firing 1 or 2 big bullets -- I do horribly with larger single bets. I relate much better to your multiple entries pressing the win. Taking 20-50 2% risk trades is also a challenge, though in a different way from 1-2 big 20-40% risk trades. A Finnish business study I read found that the participants new to trading performed the best around 5% risk per bet. A concentrated portfolio might have 10-30 investments in it, or 3-10% per bet (but be mindful of the possible outcomes of over-leveraged, highly-concentrated portfolios e.g. Archegos in recent news). This timely video comes at a point where I'm training myself up from 0.5-1% risk per bet up towards selective 2-10% on my bets (perhaps parceled out in 0.5% or 1% chunks of that 10% maximum risk allocation).
Thank you for your good comment. I'm sorry I overlooked it due to Giga scammer spam. We need to find out what's best for our own trading. This video was made to provoke a debate.
Tom, Love you.
Wow...
That was really insightful.
Thank you.
You are welcome 👍
Awesome run through. Thank you.
You are welcome 👍
oh god man I just did the keep on buying if I see chance its intense and I never won so much in 1 trade..
Good job 🙏
In India, we get about 4% p.a. interest on checking account and upto 7% p.a. on Fixed deposits...
"Do sharks complain about Monday? NO. They're up early, biting stuff, chasing shit, and reminding everyone that they're a FUCKING SHARK."
Lol, I love that
Good video Tom very thoughtful
🙏
I think the 1% trade limit talked about refers to investment in a single trade, not overall. So, ideally the trader is scaling in, risking no more than 1% for each additional trade entered. You could conceivably use up 100% of available funds in your account on a given day that way. I agree though, I personally don't subscribe to the 1% rule for the reasons you've stated.
You are right x% of what you have on your trading account. That is the only way it makes sense. I don't know anyone who has everything they own in their trading account.
Gold right here on youtube. Have a great rest Tom. Everyone needs to dream it all up again at some point.
Thanks for sharing such valuable session. You are the great 👍 Hats off
Thank you 🙏
Someday I'll trade with your position size. Great video.
Do it at your own pace. We had a bit of back and forth to release it or not. Tom DEFINITELY doesn't want people to risk 45% every day. This was extreme. But can you add a little when you are ready it will build up!
I like what you put out here ,but I'm in the Dallas TX so I don't know what to ask you for maybe the book by CD.. anyway please keep teaching me with this good info.
You didn't ask for a free book on CD, did you?
@@LennieClausen_dk He said something about a book that he has on trading?
@@mrtrader4628 they are long gone.
Thank you, Tom, your videos are really good. Has your book been published already?
Thank you. PLEASE don't ask for a book release date. Soon seems to get a new meaning here.
I lose more when I trade with less.
I get in a trade for example with 100 shares
I make a profit, but that simply is not the profit I seek
Therefore i take more trades, I overtrade and as time passes and higher a stock goes, the more likely it is to turn around.
Where if I had taken a trade with 5k shares i would step away after one single trade.
Wise words 👍
thanks sir. Great information. Will watch more
You are welcome. For most a great place to start is the Psychology playlist.
Sir your video is 100%. I really want to learn how to trade SPX ODTE . It has very very promising return. If you have the time can you please make a video on this, and how do you find your entries. I lost roughly $20K once on my position, ever since I have not traded it.
Thank you 🙏
Sorry, Tom doesn't chart on request. But everything Tom teaches works on all charts. A chart is a chart some do have their own ways. But SP500 should be good for everything Tom teaches. It just has a larger spread vs Dow. That is why Tom trades Dow instead.
Thankyou
Many people does not understand that rule. Risking 1% of your capital does not mean that for example you have 100 000 account, you only buy 1000 worth of underlying. It means your stop loss is 1000$ aka 1%. So for example you can buy 800 shares of AAPL, putting stop loss order 1.2$ below your entering price and then you are risking 1% of your money. So basically it means you can take 100 losing trades in the row until you blow up your account. And this rule indeed is indispensable.
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By the way I noticed your post about distractions from other users messaging you about slippage during live streaming. One solution may be to get a moderator to deal with all messages during your live streams, this way the moderator can filter out the "noise" from messages during streaming and forward only the important messages to you. Not sure how to implement this, most live streamers use Discord or Twitch where they can nominate a moderator for these tasks. But an approach like this would most likely eliminate the "noise messages" issue during streaming
This has been covered so many times on the streams.
There is a difference between using 50-100 percent of your buying power on a teade vs being willing to take a 50-100 percent loss on your account. You can put on a day trade using most of your buying power with a tight stop loss if you wait for a good setup.
Exactly.
I’m just getting here in 2023 and I hope to get up to your level sir
Tom I discover your excellent videos. May I ask why you don't use the order book at your level? It seems it gives a view on the coming orders?
Level 2 isn't stupid at all. But you can keep adding good stuff to your charts. If you can stomach the annoying French translation you might find value in this video. 15 min or so. th-cam.com/video/VUjwD1XZQrs/w-d-xo.html
Thank you Tom for evrything! Bottom end example if you have 1000 dolar for trading use 100 to trade with, if you have a winner and expect it will keep going ad to winners at retracements, Do you move your SL behind the previus M15 bar? I wonder how do you decide the Trailing STOP level to manage the retracements on runnings days but not get in loss in ranging days.
Depends. Covered more in the stop loss video.
@@LennieClausen_dk THX Lennie :)
That is what I see in most professional traders, many are brave in growing very quickly a small account until it is big for them and then they start to fear and in the end in terms of percentage growth it collapses, they continue generating money but already at a turtle speed, in money growth is seen but percentage-wise they don't even have the 10% strength they had at the beginning.
Slowly learning to add to winners not to losers 😜 nasdaq this morning for instance sheesh
You got balls!
Have you ever posted info for absolute newbies on the equipment you use to trade, and especially how you record vidoes and capture your trades? Also that program you use to review trades bar by bar?
Thank you either way!
Don't you dare ask Tom TECH questions ... 👀 HAHAHA
No to everything.
He has a few different setups depending on where is. In one stream from last summer, he talks a little about his new PC. Also in the DR2 Docu th-cam.com/video/T_Za2TXkByM/w-d-xo.html
You can watch another setup - 2x old laptops.
Tom uses Esignals for a replay of the chart bar by bar. Personally, I am a bigger fan of TradingView (and of course no ref links on this channel) You can try it out on trading view (free plan) on Daily chart to see if it is something for you.
I REFUSE to mention what program Tom uses for screen recording it really destroys the sound (on a good day it only tries to destroy the sound)
A better option is Camtasia (costs some GBP 250-300 ish) I use OBS which is free.
Hope this helps a little.
@@LennieClausen_dk - you all are wonderful. Thank you!
@@KznnyL Any time my friend
Awesome video!!
Thank you Alex 🙏
I agree. Forget those 1% percenter goals 😂
Great! Thanks for sharing
You are welcome 🙏
Shit Tom, det virker "nemmere", når man har flere penge at handle for...Nogle rigtige gode tips du kommer med her. Mit største problem er i virkeligheden, at jeg allerede fra starten af har "tabt" 180kr. pga valuta forskellen. Efter længere tids overvejelse, så er jeg startet på trading, men bruger kun omkring 3000kr. da jeg gerne vil lære "the game" at kende. Sætter pris på dine tips og råd!
Tror det er Kiev talk - hvor Tom tog en lille konto 24x or what else. Den video har crappy sound og annoying translation.
Tom bocsánat de orvos volt nálam,,egész délelőtt itt volttam ,,Te nem voltál de mindent hallottam csk nem értettem,,,,Sajnos a vérnyomásom rebetlen a pulzusom le ment 30 rá nagyon nem jó és fáj a mellem alatti rész pénteken megyek orvoshoz EKGRA,Utána meg egy nagyobb vizsgálatra, de az nem kórház,csak vizsgálat Nagyon hirtelen ért engem ez a nagy esemény,,és úgy látszik meg bolygatta a nyugodt életemet,,Hát majd meg látjuk hogy mit hozznak a napok,Üdvözlet,Sara,,,
i earned my way out from under PDT so that tought me to be ultra selective but i like having the xtra capital in account if i need to trade 4 or 5 stocks at the same time
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