my top 3 mistakes ive learned. 1. Dont trade the second the market opens, give it a bit to set its course. 2. Never trade against the trend. 3. Be patient
Complete noob here but I’ve been making fair returns on the CFD side by trading against the trend. I generally pick anything where I can compare the months graph to the short term and it’s almost always right! Short term looks like it’s going up but I can see from the long term it will almost defo go down.
@Alex 163 you guys are so naive...do your research don't just settle on the first strategy that seems to work Lesson 101: markets are cyclic so yes yes you can predict what happens next to the right (based upon the last impulse correction combination seen on the left). Elliot Wave trading ( macro chart patterns) does this to some limited degree. Learn to trade using Wave Trading ( micro chart patterns ) which is a superset theory (includes EW) Absolutely allows you to predict next chart trend movement. With common sense determine when best entry exit is to profit consistently Checkout channel WE TRADE WAVES !!
Emotions and not putting it all on the line is key. Don't be greedy and try to be like these guys that risk their entire net worth and happen to get lucky and get rich, you won't be like them. You think you will but you wont. Most of them selling that dream are full of shit anyways.
As it's trending up you can set your stop up and up, thus locking in profits. Unless you pick the literal top in the wrong direction (insanely hard to do unless you do so against resistances) you're golden.
I'm no expert on trading but I've heard that some stocks get dominated by institutional traders i.e. algorithms that make it very difficult for normal traders to make money. Perhaps finding stocks in play by retail traders would help? Best of luck in your trading journey!
Good advice. 90% of my trades turn against me the second I get filled, no matter how low I buy or how high I short. I used to use tight stop losses and buy huge lots and yes, they would take me out or cause me to panic. I had to learn to not be greedy and to buy small lots on each trade. My trading has improved drastically after using the same approach explained in this video. I only make 150.00 to 300.00 a day now on a 55K account, but it is better than losing 1000 to 3000 per day getting stopped out or selling during a panic.
+Ever Clara yeah but he has 55,000 in his account which honestly I think he could do a bit better some get that having less than half of that in their account. I know some could do it having only 10,000 in their account. I mean heck I could probably do that on some weeks (gain around $1,000) having only 8,000 in the account especially when earning calls are hot. Helps a lot also if you have access to pre and after market hours.
I have been practicing on a demo account for a long time now and I can imagine that a big mistake many people make is to not practice first on a demo account.
I typically set my stops by subtracting the ATR * 1.5 from the price. I cut my losses quick and lose most of my trades but I am still profitable though. Because when I do win, it's big. And when I lose, it's small.
I tried to pick the bottom of a XUA/USD and lost 90% of my equity - lesson was learned.... when it comes to being a trader it pays to be a sheep.... follow the flock, watch the MACD and literally do as the chart is telling you....
Everything you said I knew already, but Ive never heard it so clearly and concisely...will be returning to it to continuously remind me. Hard thing to tame myself...get success and then suddenly break my own rules and fail.
You threw something in there in less than one sentence that I've wondered for years and never really looked into because I always forget to ask. You said that the oil traded $1.30 or something and then you said that's 130 points. I never realized a point was a cent. That's amazing!!!! I've always heard about the DIA and Nasdaq in reference to points. And the DIA breaching 23,000 points. Now I understand that means it's trading over $230.00 a share!!! Thank you so much. It took less than a second of this clip to explain but it really helps me get my head around this. I wondered if it was percentages or what and now I know. Thank you so much.
A point is a pip and it stays the same. What differs is the profit because of different lot sizes. 5 points can yield $0.50 (micro) or $5 (mini) or $50 (standard)
For stocks, one point equals one dollar. So when you hear that a stock has lost or gained X number of "points," this is the same as saying that the stock has lost or gained X number of dollars. It is important to note here that we are referring strictly to stocks, nothing else. People often refer to indexes, bond prices or currencies being up or down X number of basis points, and basis points are different. One basis point is equal to 1/100th of a percent, so if someone says the dollar is up 50 basis points, this is like saying it is up 0.5%. Source: Investopedia
Great video. I am glad you mentioned setting your SL wider. I was first taught to set your TP at 3 pip and your SL at 3X your TP, which was 9 pip. I would back test the crap out of my strategy with this information and I would lose much of the time and I couldn't figure out why. Then I decided to back test using a larger TP and SL. What I found astonished me. When I would trade with a TP of 3 pip, I would only win about 55% of the time. Then I changed my TP to 6 pip and my SL to 30 pip and people told me I was crazy. I use the same exact strategy and I win 92% of the time now. I noticed the same thing you did, when the markets moving you need to give your trade time to work. Thanks for the video.
I don’t use stop losses on my ETF’s if I’m already down. The reason why is because over time history has shown that the market will always bounce back. Then on high growth risky stocks, I only invest what I would be willing to lose. Now I do use stop limit/loss if I am up in profit to protect my gains.
I have to say this is one of the better channels out there that covers this stuff. The explanations are always concise and easy to understand. Great content and I'll be sure to send anyone looking for knowledge this way.
The very last thing I told myself after this last set of trades I made was 'shut it down and walk away.. dont obsess over the trades.' Then I came here to unwind and found this was the first video I watched. I like it!!
Good day David, I must admit I have made all three these mistakes when using my own money...when trading with a virtual account I get it right and risk far less for each given trade...but I am battling with trading psychology when trading with my own money, I deviate from my strategy used when trading virtual and my emotions take over - I have caused myself so much frustration - moving my stoploss farther and farther as a market goes against me "hoping" it would turn which i know is stupid and goes against everything i have learnt about the financial markets and trading as a whole...Guess im just reaching out to you as I am normally a very disciplined individual but cant seem to shake off the emotional part of trading with real money - and i really enjoy trading and technical analysis especially. I have thought about getting a mentor for the psychology behind trading as I would not like to stop trading because of this...anyway, my apologies for ranting on about it, I just needed to reach out to someone who has such broad appreciation, calmness & discipline for trading as you have. Keep up the great videos! I will look through your previous videos for one on trading psychology specifically. kind regards, Hendrik Labuschagne
Do you have your own trading plan that you follow, every step of the trade, from place the position to exiting the position? I found this to be very helpful as i also have rules i need to follow and emotion checks on that plan, so whenever i feel like deviating from the plan i go to my trading plan to see what should be the next step. This does help with a lot of discipline involved.
I don't fully agree with point 1. trend. for example, currently the ftse100 is on a downward trend, however the 'overall' trend is long. a trader 'going with the trend' will say to him/herself, well the trend is short going down so I'll short it. However there is always going to be more uptick given that the 'overall trend' is long going up. This means that a trader will have better trades buying long on the low dips, knowing that price will rise. If s/he shorts instead and ignores the power of the overall trend then sooner or later the price will move up and not come back down, will take out any stop loss even the widest ones. If you have a big margin and trade long buying on the dips then even further big dips will not wipe you out even without a stop loss. okay you'll have to pay the rent on keeping 1 or more trades open but the profits will far outweigh the fees once the overall trend catches up and recovers from the downturn. also while you're waiting you can carry on trading new positions given enough margin. I am doing this and made 12% profit of my trading fund in 7 trading days. I'd be up even more had I used limit settings and been a bit more patient waiting for price to come down more, not buying too early and selling too early. I'm set to double my trading fund 100% before end of year 2018.
Dear David ... Thank-YOU for reminding us again and yes I totally agree on all three . The other problem is that I will pick a bottom or a top . Most of the time I am wrong and the Market goes against me and my call or put is deteriorating. Instead admitting the mistake, I will through more money at it. The trend goes against you and it stock takes to long to turn around and the Warrants with a time decay becomes nothing. I have lost plenty .... Purely on fact that I can not sell, ....... and every day get worse and worse . I do agree that one should spend some time on the product you interested in and get the feel of it. Be careful of noise in the market, wild swings up and down . As Dave was saying, your stop loss is to tight. I hope you all do well, and may God Bless us all with new wisdom and understanding. Janni Roux South Africa.
Thanks for sharing these three tips. I am new & learning. Last night I lost a trade because I put the stop loss too close. I missed the boat & trade closed in 5 minutes. If I didn’t do that mistake I would make good money. Lesson learned from the trade & your video. Once again thanks.
Holy Crap!! I rarely watch youtube trading videos, but when I do they have been uniformly bad -- often to the point of being funny. I would say this is the ONLY youtube trading video I've ever seen that offers truly sensible and useful advice to beginning traders. I'm shocked, actually.
I like that you get right to it. All of the others that I follow on TH-cam will spend up to 5 minutes NOT talking about the title of the video (the subject) that brought you to the channel.
Thanks sp much ,im deffenetly number3 ....i eill work on this,i tought my stops too tight as u said,but really the problem i risk too much,have to downsize..thanks David ,u making me better with evry videos
lost 40 quid on natural gas today. totally missed the landslide of selling, got caught in the rise phase... was too late to accept that it would come back. closed position, re adjusted. made 20 back... then lost a little more. lesson learned the hard way. im new to trading, but made all these three mistakes in one trade
I doubled my investment and lost everything including the principle just because i used bigger size and narrow stop loss.Bigger size of stock in intraday is the culprit. U get tense when market start consuming ur profit which u earned, along with the principle and u will be stuck making multiple trade to get back what is urs from the market. Thanks u for the video
well here is one tip that you left out,, use a trader not everyone can trade binary and secondly use an average broker , most popular brokers are total rip offs
And all the time I was thinking why the hell whenever I buy any stock it starts going against me it reverses as soon as I sell it.. so I was doing all these 3 mistakes
Mr. Jones, you are a true blessing to those of us who want to make a living trading on the stock market. Thanks a million times for your upfront input and educating us. Wishing you and the fans more success
My method: Pick an entry point. Set a 10 pip stop loss. No take profit. Let the trade run, run, run! Check your trade five to ten hours later. My best run was 92 pips on the EUR/USD. Try it.
Strong advice that I need every few months. It's rarely about the indicators and the whatnot. They are all using data you see on the screen anyway. It's about managing potential losses and staying alive for as long as possible trying to earn something one trade at a time.
Hey great video! Very informative, no rambling or fluff! Good audio, good camera angle/screen capture. Good length. Thanks for the video, I subscribed!
Your video explained all my faults via trading, i need to step up my trading game for real, an expert recommendation would be better after all. Thanks so much david
212: If there was ever a holy grail -- these would be it: The three most understood, but the most erroneously applied. The three aspects that we do know and can tweak, even in this game of chance, when we do not know where the price may venture, but with these -- we always know that we can handle the outcomes more comfortably.
I do the $1000 demo atm, 10 shares per position and when I keep them less than 5 positions I do great, but then I get hung out on the hedges trying to counter a reversal with too many positions on the movement. Learning to cut my losses but also learning to push how far fewer small positions can go out and back in which I have done a few times, market calibrations can help if you are online when London/Tokyo/NewYork etc, open bell rings... A Yearly Map Overlay feature would be nice, particularly for gold & Valentines day, Christmas, etc to detect patterns... Would also be nice if there was an indicator line on the charts for when different markets open and close, would be very helpful.
Good points but in 3rd Mistake - You would not even trade this timeframe as where is the main trend? There is no trend so stay out of the market....it is sideways or in consolidation. Go to a larger timeframe to find direction if any and if none then go to another pair. Larger timeframes always control the lower timeframes.
Thank you very much for your videos. I am a newbie Forex trader. I am doing a course online and use your material to better understand what l am learning. It has been an enormous help so far!
3 Most Common Trading Mistakes: 1. think you can beat the index by trading 2. buy anything other then a broad index fund / ETF 3. sell anything (including ETFs) before holding them 10 years
one question: why trade oil? it seems like suicide for no reason. liquidity maybe, but what else, seriously? whatever the market, your stop should be at RZs. if its not, it doesnt really matter, whether you set it tight or wide. with lots of skill, stops that give you 1:10, 1:20 or a lot more RR are totally possible.
At Stop loss you need to add possibility to input a number. Because when you want to expand the distance you need to click about 1000 times. Adding the possibility to input a number then we need to have only 5 clicks
Honestly who run things channel? Thank you so much for taking the time to put together these videos, no one wants to share knowledge with out cost. Thank you a ton for teaching and giving people the opportunity to be successful👌🙏
The one thing i always was tought, was during the drop in the market, buy buy buy. I was always taught dont sell during the down trend, unless the business is about to go out of business
I used to know a bookie and he told me the same thing. When someone bet against a streak they could lose for many weeks (football bets) and he liked those bets. The bets he didn't like taking are the ones betting with a streak; they are only going to be wrong once.
Every trade has a stop loss! If you do not set the stop loss yourself, then your account balance is the stop loss (or worse if you are on a high margin account and there is a black swan event). If you have rigorously reviewed your theory of your trade. In other words you are following a logical plan, made in advance of entering the trade. Then you will know a price at which your plan has been proven wrong by the indisputable fact of the price. That is the point to place your stop, where your plan has been proven wrong. You then work backwards to set the size of the trade from the stop loss, to the entry price, you have now completely fixed your risk for that one trade. You should have a master trading plan so the amount of risk on any single trade falls within your predetermined risk for your entire portfolio. Profitable trading is actually very simple. But the rules to getting there are like the laws of nature, they cannot be violated. If someone on the internet told you to jump off a cliff, flap your arms and you would fly, you would never do that. You have real life experience with gravity so you know you will die. Yet people buy into all sorts of trading schemes that have no chance of success. Take time to learn proper trading and learn the rules (mostly statistics and probability) that shape the market, educate yourself, practice with a small dollar account. Losses are normal and expected. No one sits at a blackjack table and wins every hand. No one wins every trade. Track and calculate your expectancy for 300 live trades (yup, 300, it needs to be a statistically significant sample of events). Once that generates a clearly positive result, slightly increase the amount you trade (not the percentage risk). Rinse, repeat, profit.
@Dave Taylor thanks for taking the time to write that, I will try and invest in 300 trades(I assume 1-5 stocks per company?) If I have 1,000 dollars and am trying to diversify my portfolio, if my goal is to make 100 dollars per day(10%) and I can't "day trade"(because I dont have 25k account) Would you be able to advise me on what to do?
Personally, I've had bad luck with stop losses. Almost always get stopped out. I don't think a 3-4% stop is tight, but I see these wicks reach down and take my stop out so often. I'm never able to get those prices, but someone does. I understand the stop loss and wouldn't try to deter anyone from it, but it just doesn't seem to work for me.
Excellent! Really very informative video for newbie traders. Specially the information about how to correctly place stop losses has been very helpful. I have subscribed to the channel, and please keep up the good work, it is much appreciated. In a future video perhaps I would like to hear your explanation about the recomended amount of leverage to use, and what amount of leverage do you usually use in your own trades, if you use it at all. Thanks!
Hello and thanks for your comment. Your suggestion has been noted. Enjoy your time watching the video tutorials and using Trading 212's mobile and web apps.
That is why a have a problem with the risk to reward ratio of 1R:3R...Sometimes you need to let a trade 'breathe' so that you dnt get stopped out if trades with a tight SL.
I would like ask to you.. At which point of the chart should i make a perfect trade for buy or sell the product..?? I am new in trading and i dont have any idea on how to make a perfect trade at which point of chart should i make a trade.. I hope you'll read my comment and thank you..
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my top 3 mistakes ive learned.
1. Dont trade the second the market opens, give it a bit to set its course.
2. Never trade against the trend.
3. Be patient
Best advice I’ve heard so far!
Complete noob here but I’ve been making fair returns on the CFD side by trading against the trend. I generally pick anything where I can compare the months graph to the short term and it’s almost always right! Short term looks like it’s going up but I can see from the long term it will almost defo go down.
Facts!
gold usually shoots up when the market opens again after the weekend. then slowly go back down
A trader told me that if I dont sleep well when I have a trade running overnight, my risk is too big. That has been my best risk meter since
Great advice
jesse livermore qoted that, trade down to the soft pillow at night
i can't concentrate at other stuff when i have an open position
Very easy with a chart that's already drawn, not so easy when there's nothing but black space to the right.
yes in hindsight its all easy. Prediction value of a chart is very low
@Alex 163 you guys are so naive...do your research don't just settle on the first strategy that seems to work
Lesson 101: markets are cyclic so yes yes you can predict what happens next to the right (based upon the last impulse correction combination seen on the left).
Elliot Wave trading ( macro chart patterns) does this to some limited degree.
Learn to trade using Wave Trading ( micro chart patterns ) which is a superset theory (includes EW)
Absolutely allows you to predict next chart trend movement.
With common sense determine when best entry exit is to profit consistently
Checkout channel WE TRADE WAVES !!
😂
BornToDoIt legit all they need is divergence 💀💀
predicting horizontal support levels is easier.
(1) go with direction of market
(2) if more volatile set wider stops
(3) don't be emotional
(4) Bonus:trade small - survive to trade another day
Great summary CTNinjaCat!
don't be emotional is number 1
trade with high risk
Emotions and not putting it all on the line is key. Don't be greedy and try to be like these guys that risk their entire net worth and happen to get lucky and get rich, you won't be like them. You think you will but you wont. Most of them selling that dream are full of shit anyways.
"don't be emotional" i hope everyone read that
""...and people don't have the attention span these days"". Did he just call me stupid? You are godamm right!
The trend is your friend till it bends
As it's trending up you can set your stop up and up, thus locking in profits.
Unless you pick the literal top in the wrong direction (insanely hard to do unless you do so against resistances) you're golden.
Sounds like a poem
😂😂😂
... but only at the end.
rapping 213
My trade always flop the other way as soon as I buy. When I sell, it does the same thing. LOL
Cowwy seems like they know we are online lol
😂😂
Me too
I'm no expert on trading but I've heard that some stocks get dominated by institutional traders i.e. algorithms that make it very difficult for normal traders to make money. Perhaps finding stocks in play by retail traders would help? Best of luck in your trading journey!
Good advice. 90% of my trades turn against me the second I get filled, no matter how low I buy or how high I short. I used to use tight stop losses and buy huge lots and yes, they would take me out or cause me to panic. I had to learn to not be greedy and to buy small lots on each trade. My trading has improved drastically after using the same approach explained in this video. I only make 150.00 to 300.00 a day now on a 55K account, but it is better than losing 1000 to 3000 per day getting stopped out or selling during a panic.
If may ask how do you possibly an uptrend or down trend on the market though?
Look into Bill Williams's fractal trading
I’m an amateur but 150-300a day gains sounds awesome. That’s typically what some people get paid for a days worth of work lol
+Ever Clara yeah but he has 55,000 in his account which honestly I think he could do a bit better some get that having less than half of that in their account. I know some could do it having only 10,000 in their account. I mean heck I could probably do that on some weeks (gain around $1,000) having only 8,000 in the account especially when earning calls are hot. Helps a lot also if you have access to pre and after market hours.
Use Volume Profile and Market Profile.
I have been practicing on a demo account for a long time now and I can imagine that a big mistake many people make is to not practice first on a demo account.
Setting the stop loss too tight is definitely the first lesson I learned the hard way when I started trading.
this guy should be in a james bond movie
Haha good guy or villain?
Fallowing the trend, :)
or ... pirates of the caribbean playing davy jones
I thought this guy was james bond.
Reminds me of Pierce Bronson.... 007
I typically set my stops by subtracting the ATR * 1.5 from the price. I cut my losses quick and lose most of my trades but I am still profitable though. Because when I do win, it's big. And when I lose, it's small.
I tried to pick the bottom of a XUA/USD and lost 90% of my equity - lesson was learned.... when it comes to being a trader it pays to be a sheep.... follow the flock, watch the MACD and literally do as the chart is telling you....
Bullet Sponge Gaming market goes up when i sell and goes down when i buy even though the previous candles show that i should have bigger leighweigh.
Everything you said I knew already, but Ive never heard it so clearly and concisely...will be returning to it to continuously remind me. Hard thing to tame myself...get success and then suddenly break my own rules and fail.
You threw something in there in less than one sentence that I've wondered for years and never really looked into because I always forget to ask. You said that the oil traded $1.30 or something and then you said that's 130 points. I never realized a point was a cent. That's amazing!!!! I've always heard about the DIA and Nasdaq in reference to points. And the DIA breaching 23,000 points. Now I understand that means it's trading over $230.00 a share!!! Thank you so much. It took less than a second of this clip to explain but it really helps me get my head around this. I wondered if it was percentages or what and now I know. Thank you so much.
isn't one point equal to a dollar? so if a stock increases 5 points it means it went up $5.
A point is a pip and it stays the same. What differs is the profit because of different lot sizes. 5 points can yield $0.50 (micro) or $5 (mini) or $50 (standard)
For stocks, one point equals one dollar. So when you hear that a stock has lost or gained X number of "points," this is the same as saying that the stock has lost or gained X number of dollars.
It is important to note here that we are referring strictly to stocks, nothing else. People often refer to indexes, bond prices or currencies being up or down X number of basis points, and basis points are different. One basis point is equal to 1/100th of a percent, so if someone says the dollar is up 50 basis points, this is like saying it is up 0.5%.
Source: Investopedia
+Tucker Garcia A point is a dollar not a cent! If they were cents there would be no use in commenting on points in markets like Nasdaq and Dow Jones
Finally an investing video with a decent mic
OMG! I literally had my stop loss at essentially 0, and was trading £2000+ on one trade, that makes a lot more sense! Thanks :)
Yes because the wicks always take me out
i hope your trading improved at least now mate
Great video. I am glad you mentioned setting your SL wider. I was first taught to set your TP at 3 pip and your SL at 3X your TP, which was 9 pip. I would back test the crap out of my strategy with this information and I would lose much of the time and I couldn't figure out why. Then I decided to back test using a larger TP and SL. What I found astonished me. When I would trade with a TP of 3 pip, I would only win about 55% of the time. Then I changed my TP to 6 pip and my SL to 30 pip and people told me I was crazy. I use the same exact strategy and I win 92% of the time now. I noticed the same thing you did, when the markets moving you need to give your trade time to work. Thanks for the video.
I don’t use stop losses on my ETF’s if I’m already down. The reason why is because over time history has shown that the market will always bounce back. Then on high growth risky stocks, I only invest what I would be willing to lose.
Now I do use stop limit/loss if I am up in profit to protect my gains.
This is the best video ever for a novice like me. Thank you so much!
I have to say this is one of the better channels out there that covers this stuff. The explanations are always concise and easy to understand. Great content and I'll be sure to send anyone looking for knowledge this way.
The very last thing I told myself after this last set of trades I made was 'shut it down and walk away.. dont obsess over the trades.' Then I came here to unwind and found this was the first video I watched. I like it!!
Calm and clear, you're a good tutor David!
Good day David, I must admit I have made all three these mistakes when using my own money...when trading with a virtual account I get it right and risk far less for each given trade...but I am battling with trading psychology when trading with my own money, I deviate from my strategy used when trading virtual and my emotions take over - I have caused myself so much frustration - moving my stoploss farther and farther as a market goes against me "hoping" it would turn which i know is stupid and goes against everything i have learnt about the financial markets and trading as a whole...Guess im just reaching out to you as I am normally a very disciplined individual but cant seem to shake off the emotional part of trading with real money - and i really enjoy trading and technical analysis especially. I have thought about getting a mentor for the psychology behind trading as I would not like to stop trading because of this...anyway, my apologies for ranting on about it, I just needed to reach out to someone who has such broad appreciation, calmness & discipline for trading as you have. Keep up the great videos! I will look through your previous videos for one on trading psychology specifically. kind regards, Hendrik Labuschagne
Do you have your own trading plan that you follow, every step of the trade, from place the position to exiting the position? I found this to be very helpful as i also have rules i need to follow and emotion checks on that plan, so whenever i feel like deviating from the plan i go to my trading plan to see what should be the next step. This does help with a lot of discipline involved.
this person has great experience in stock market... keep it up... and thanks for helping other TRADERS..
Hi there. Nice to see you enjoy the videos.
Rigjt on spot! Previously I have been setting my stop loss too tightly only to find out later in the day that the price broke my target.
This guy is the best teacher there have ever been
I don't fully agree with point 1. trend. for example, currently the ftse100 is on a downward trend, however the 'overall' trend is long. a trader 'going with the trend' will say to him/herself, well the trend is short going down so I'll short it. However there is always going to be more uptick given that the 'overall trend' is long going up. This means that a trader will have better trades buying long on the low dips, knowing that price will rise. If s/he shorts instead and ignores the power of the overall trend then sooner or later the price will move up and not come back down, will take out any stop loss even the widest ones. If you have a big margin and trade long buying on the dips then even further big dips will not wipe you out even without a stop loss. okay you'll have to pay the rent on keeping 1 or more trades open but the profits will far outweigh the fees once the overall trend catches up and recovers from the downturn. also while you're waiting you can carry on trading new positions given enough margin. I am doing this and made 12% profit of my trading fund in 7 trading days. I'd be up even more had I used limit settings and been a bit more patient waiting for price to come down more, not buying too early and selling too early. I'm set to double my trading fund 100% before end of year 2018.
Dear David ... Thank-YOU for reminding us again and yes I totally agree on all three . The other problem is that I will pick a bottom or a top . Most of the time I am wrong and the Market goes against me and my call or put is deteriorating. Instead admitting the mistake, I will through more money at it. The trend goes against you and it stock takes to long to turn around and the Warrants with a time decay becomes nothing. I have lost plenty .... Purely on fact that I can not sell, ....... and every day get worse and worse . I do agree that one should spend some time on the product you interested in and get the feel of it. Be careful of noise in the market, wild swings up and down . As Dave was saying, your stop loss is to tight. I hope you all do well, and may God Bless us all with new wisdom and understanding. Janni Roux South Africa.
7:00 Gold. Dont be afraid to set wide stops and trade a little smaller
Definitely. Gold is very volatile.
Thanks for sharing these three tips. I am new & learning. Last night I lost a trade because I put the stop loss too close. I missed the boat & trade closed in 5 minutes. If I didn’t do that mistake I would make good money. Lesson learned from the trade & your video. Once again thanks.
1. Cut losses quickly
2. Always feel comfortable entering a trade
3. Know your market
Holy Crap!! I rarely watch youtube trading videos, but when I do they have been uniformly bad -- often to the point of being funny. I would say this is the ONLY youtube trading video I've ever seen that offers truly sensible and useful advice to beginning traders. I'm shocked, actually.
identify trend,follow trend,sl,top up,mm
I like that you get right to it. All of the others that I follow on TH-cam will spend up to 5 minutes NOT talking about the title of the video (the subject) that brought you to the channel.
Always giving out clear and make sense videos. Thank You Mr Bond. Aka David Jones.
good (obvious) advices we forget! thanks dude
Confluence= price action, trend and KEY LEVEL and always look left off the dailies and weeklys
Thanks sp much ,im deffenetly number3 ....i eill work on this,i tought my stops too tight as u said,but really the problem i risk too much,have to downsize..thanks David ,u making me better with evry videos
Wish I watched this earlier. Now I have to turn tricks to fund my account.
looooooooooooool
Self proclaimed trading expert, nice.
Excellent, very useful video for all novice traders, respect the author!)
Getting to be the only channel I watch, best lessons hands down!
lost 40 quid on natural gas today. totally missed the landslide of selling, got caught in the rise phase... was too late to accept that it would come back.
closed position, re adjusted. made 20 back... then lost a little more.
lesson learned the hard way. im new to trading, but made all these three mistakes in one trade
I didn't know Pierce Brosnan was a day trader! cool.
1 unbeatable gold trading channel
I doubled my investment and lost everything including the principle just because i used bigger size and narrow stop loss.Bigger size of stock in intraday is the culprit. U get tense when market start consuming ur profit which u earned, along with the principle and u will be stuck making multiple trade to get back what is urs from the market. Thanks u for the video
well here is one tip that you left out,, use a trader not everyone can trade binary and secondly use an average broker , most popular brokers are total rip offs
i am new and i am learning new things from you sir thanks
And all the time I was thinking why the hell whenever I buy any stock it starts going against me it reverses as soon as I sell it.. so I was doing all these 3 mistakes
Mr. Jones, you are a true blessing to those of us who want to make a living trading on the stock market. Thanks a million times for your upfront input and educating us. Wishing you and the fans more success
My method: Pick an entry point. Set a 10 pip stop loss. No take profit. Let the trade run, run, run! Check your trade five to ten hours later. My best run was 92 pips on the EUR/USD. Try it.
Strong advice that I need every few months. It's rarely about the indicators and the whatnot. They are all using data you see on the screen anyway. It's about managing potential losses and staying alive for as long as possible trying to earn something one trade at a time.
Hey great video! Very informative, no rambling or fluff! Good audio, good camera angle/screen capture. Good length. Thanks for the video, I subscribed!
Thanks for sharing this information!
Perfect personal and professional analysis I love it, pin points the problem with many many traders
Thank you so much
Thank you. Trading far too big made me make wrong decisions. Thanks for sharing.
Thanks for sharing Dave. I made the stop loss mistake. 👍🏾
Your video explained all my faults via trading, i need to step up my trading game for real, an expert recommendation would be better after all. Thanks so much david
212: If there was ever a holy grail -- these would be it: The three most understood, but the most erroneously applied. The three aspects that we do know and can tweak, even in this game of chance, when we do not know where the price may venture, but with these -- we always know that we can handle the outcomes more comfortably.
Good video thanks for the upload David.
I do the $1000 demo atm, 10 shares per position and when I keep them less than 5 positions I do great, but then I get hung out on the hedges trying to counter a reversal with too many positions on the movement. Learning to cut my losses but also learning to push how far fewer small positions can go out and back in which I have done a few times, market calibrations can help if you are online when London/Tokyo/NewYork etc, open bell rings... A Yearly Map Overlay feature would be nice, particularly for gold & Valentines day, Christmas, etc to detect patterns... Would also be nice if there was an indicator line on the charts for when different markets open and close, would be very helpful.
Good points but in 3rd Mistake - You would not even trade this timeframe as where is the main trend? There is no trend so stay out of the market....it is sideways or in consolidation. Go to a larger timeframe to find direction if any and if none then go to another pair. Larger timeframes always control the lower timeframes.
Very good video!
Hi there. Nice to see you like it. Make sure not to miss the coming tutorials - fresh videos every week.
this has brought clarity to me , thanks . Increasingly with more knowledge the science is getting clearer
Thank you very much for your videos. I am a newbie Forex trader.
I am doing a course online and use your material to better understand what l am learning. It has been an enormous help so far!
I've just found your channel. OMG you are the easiest to understand, that I have come across. Thankyou!!!!!!!! :)
3 Most Common Trading Mistakes:
1. think you can beat the index by trading
2. buy anything other then a broad index fund / ETF
3. sell anything (including ETFs) before holding them 10 years
one question: why trade oil? it seems like suicide for no reason. liquidity maybe, but what else, seriously? whatever the market, your stop should be at RZs. if its not, it doesnt really matter, whether you set it tight or wide. with lots of skill, stops that give you 1:10, 1:20 or a lot more RR are totally possible.
At Stop loss you need to add possibility to input a number. Because when you want to expand the distance you need to click about 1000 times. Adding the possibility to input a number then we need to have only 5 clicks
from now you are my teacher.love from india🇮🇳
Wow. You simplified my issues in 3 simple steps. Thanks man ❤️🙏
Honestly who run things channel? Thank you so much for taking the time to put together these videos, no one wants to share knowledge with out cost. Thank you a ton for teaching and giving people the opportunity to be successful👌🙏
Mad Respect Man. You know what your're talking about.
The one thing i always was tought, was during the drop in the market, buy buy buy. I was always taught dont sell during the down trend, unless the business is about to go out of business
I got!! ... Green good, Red bad ... excellent i feel like im wrapping my head around this now lol.
Very helpful as usual!
So true. Made all those 3 mistakes in the past. Thanks for a great video!
Subbed. Been trading a while and knew all this, but its nice to have a voice to bring your perspective back to reality. Thanks a lot for the video!
I used to know a bookie and he told me the same thing. When someone bet against a streak they could lose for many weeks (football bets) and he liked those bets.
The bets he didn't like taking are the ones betting with a streak; they are only going to be wrong once.
Best think to do is to trade minilots and with wide stop-loss. Personally my best trades have been without stop-losses.
Every trade has a stop loss!
If you do not set the stop loss yourself, then your account balance is the stop loss (or worse if you are on a high margin account and there is a black swan event).
If you have rigorously reviewed your theory of your trade. In other words you are following a logical plan, made in advance of entering the trade. Then you will know a price at which your plan has been proven wrong by the indisputable fact of the price. That is the point to place your stop, where your plan has been proven wrong.
You then work backwards to set the size of the trade from the stop loss, to the entry price, you have now completely fixed your risk for that one trade. You should have a master trading plan so the amount of risk on any single trade falls within your predetermined risk for your entire portfolio.
Profitable trading is actually very simple. But the rules to getting there are like the laws of nature, they cannot be violated. If someone on the internet told you to jump off a cliff, flap your arms and you would fly, you would never do that. You have real life experience with gravity so you know you will die. Yet people buy into all sorts of trading schemes that have no chance of success. Take time to learn proper trading and learn the rules (mostly statistics and probability) that shape the market, educate yourself, practice with a small dollar account.
Losses are normal and expected. No one sits at a blackjack table and wins every hand. No one wins every trade.
Track and calculate your expectancy for 300 live trades (yup, 300, it needs to be a statistically significant sample of events). Once that generates a clearly positive result, slightly increase the amount you trade (not the percentage risk). Rinse, repeat, profit.
this is really helpful..we newbies need this kind of info..
@Dave Taylor thanks for taking the time to write that, I will try and invest in 300 trades(I assume 1-5 stocks per company?) If I have 1,000 dollars and am trying to diversify my portfolio, if my goal is to make 100 dollars per day(10%) and I can't "day trade"(because I dont have 25k account) Would you be able to advise me on what to do?
+a a Is your trading account wiped out yet?
Personally, I've had bad luck with stop losses. Almost always get stopped out. I don't think a 3-4% stop is tight, but I see these wicks reach down and take my stop out so often. I'm never able to get those prices, but someone does. I understand the stop loss and wouldn't try to deter anyone from it, but it just doesn't seem to work for me.
Excellent! Really very informative video for newbie traders. Specially the information about how to correctly place stop losses has been very helpful. I have subscribed to the channel, and please keep up the good work, it is much appreciated. In a future video perhaps I would like to hear your explanation about the recomended amount of leverage to use, and what amount of leverage do you usually use in your own trades, if you use it at all. Thanks!
Hello and thanks for your comment. Your suggestion has been noted. Enjoy your time watching the video tutorials and using Trading 212's mobile and web apps.
Brilliant, well presented and clear advice, thank you
Is it good to trade using a big account or puting more money on the market for a long run
Brilliant. Simple and clear.
Nice lesson , Thanks
That is why a have a problem with the risk to reward ratio of 1R:3R...Sometimes you need to let a trade 'breathe' so that you dnt get stopped out if trades with a tight SL.
I so agree with you! And you remind me of James Bond (Pierce Brosnan).
That's the most insightful comment I have read on TH-cam
He is a big fibber! Good video. lol
Great Video. Could you make more videos to show the trading mistakes. It's really important to us. Thank you so much
It is me. I love to short the market when it is up. It seems easy when you learn but not easy to follow.
love your explanations, they very clear and understandable!
what a basic and most probably best advice
clear chart and good explain. Thank you so much for this videos
Excellent video. have been making these mistakes in my trades. Now got a clear idea.
Your videos are really helpful. Given me lots of insight. Thanks very much!
Brilliant video, thanks very much 👌
Great advice
Great hair
Great shirt
Wow! Was really helpful...cheers mate
I would like ask to you..
At which point of the chart should i make a perfect trade for buy or sell the product..??
I am new in trading and i dont have any idea on how to make a perfect trade at which point of chart should i make a trade..
I hope you'll read my comment and thank you..