Whether one trades forex or any other asset class, the first step in achieving success is to create and follow a trading plan. "failing to plan is planning to fail" is an adage that holds true for any type of trading
Well honestly I’ve heard a lot j on c testimonies of this man from his clients. Everyone acknowledges his expertise in the market and his in-depth knowledge
So with 1000$ opening balance you get 200$ profit per year, means 0,83$ profit on daily basis... So this is the worst paying job on planet!!! This is not the truth. In forex you can have daily profits of 5% of your balance.
Ye you right. I mean you have 365 days in one year and you can make more then 200$. There are like 260 trading days and if you make just 1$ every day( which is possible with lot size of 0.01) you would make 260$
What a sensible, realistic and down-to-earth young man. Such a refreshing change from the usual big-talking trader type with their flashy sports cars. Got yourself another subscriber!
i read the comments that most people are not being realistic. chasing fast gains and flipping their account. Thanks for being real Nick. You are talking about surviving the long term game and peaceful of mind
Hey Nick, that's amazing. I just started trading with $100 account. It totally taught me how to deal with the emotion, which wasn't easy. I feel good that your videos help me confirm that all I need is a great strategy that suits me, patience, and discipline. Thanks!
If you can be profitable in 6 months straight it means you are already a consistent trader. Then find your investor to fund you. Capital is not actually a problem. The problem is you.
i think that after one has gained confidence after many research and testing demo, they should try to deposit $100-200 to train their mental and be fully prepared to lose this and take it as your education fee. After getting a feel and more confidence and has shown at least consistent profitable, put in money you can lose preferably $1000 around there and compound.
Royal totally agree, I’ve been trading successfully in demo for more than half a year but burned out my 300 dollar account in just 2 months. Emotions play a huge role knowing that you’re trading REAL money.
I made a 350 euros deposit and currently with 800 euros in two moths, for me the most important thing about trading is patience, used a demo account for 5 months and before that studied a 2 and a half month. Persistence and PATIENCE, the 2 things most importante if you want to achieve anything
That’s what I did. I used $100, real money, minimum to practice with. I wanted to experience the real thing instead of demo. I can honestly say I learned way more a lot faster using real money and just setting it at a very low risk. Now, I’m at a point where I’ve been successfully profitable enough that I can actually afford to up the stakes with a little more with confidence now.
@@velwear I wanna ask you about the risk management of 100$ I wanna do the same before starting with 1000$ but for 100$ the risk management looks a little harder for me to handle
Abdo Ize I kept it really low and left it at 0.01, or 0.02. You won’t make much unless you start upping the stakes a little bit more, but I was just starting out, and didn’t want to risk too much; and blow my $100 account so quickly. I was just wanting to give myself enough space to get the real live feeling of what it would be like to trade real money is all. I’ve gotten better at it now. I have two ways I calculate my lot sizes now depending on the deposited amount that’s in my account. So there’s a little bit of simple math involved and I set my “RR” to either 1:1. 1:5, or 2:1. I have friends that do higher than that, but this is where I’m comfortable at trading for now.
Title should be revised: How to very slowly and very safely grow your small Forex Account. Trading this way is nonsensical on a 1K account unless you are still in the learning phase.
Facts. He's not a very skilled trader. Just cuz you're profitable doesn't mean you're great. Low skilled traders need more capital cuz they have sub par returns
I see most commends are from experience traders . For new traders its the best advise you can learn on trading. I have been trading for more than 10 years and 5 years of blowing up small accounts after accounts. My advise is if you want to trade than invest at least $10k+ and ride the trend with $2.00 gaining pips. The trick is .. WHAT GOES UP COME DOWN .... so if the $2 can stand 150 pips and wont blow your $10K account. profit will come when the trend changes...
If you know what your doing a 1,000 account can be turned into a lot I personally turned $100 to 1,000 in two weeks it all depends on the lot sizes you use I seen people double their account in one trade
I know this is not a video about percent gains. But there is a very simple and objective Way to find how big returns you Can achieve in a year first you gotta find your expectancy Then expectancy x frequenzy x bet size/risk = yearly gain and calculate that in % and you have a reasonable number to go from
W1llbam exactly right! And there’s endless debate (probably my most controversial videos) on how much percentage you can achieve each year. My goal is less than what people might expect, but it’s what is comfortable to me. And to each their own :)
Damn people who start with 1k are gonna be real discouraged to watch your video, to make 300$ in 1year, honestly I think 15 to 30% on a monthly basis with a 2% daily risk is realistic with due diligence, patience for the right setups, commitment and time dedication.
1,000×1.15^36 =153,151.85193575115 So ok then . Making an initial deposit of £1000 and making 15% per month and compounded at the beginning of each month for 3 years ….. £153,000 Come on birdbrains out there , if it was that easy don’t you think EVERYBODY WOULD BE DOING IT ❤
I made 19.51% in 2 weeks, all I did was backtest a profitable forex strategy along with a state of the art money management. I keep all my lot size small and consistency is the key. On a good day I even make 15 straight profitable trades but of course, losing is also part of the game. The advice Nick is giving should be applied to a stock investment portfolio. Overall a good video to understand the fundamental of compound interest.
honestly nick, i gonna be straight with you, i have been in market for 10 years successful consistently for 5 years. i have mony in Reits, index and ETFs. if i want 20% a year i would leave it with them. If you are willing to learn money management and TRADE management and have knowledge of markets, u can easily make 50% or more.
He is an impostor. He doesnt know how to trade profitably. I just watch few video from him and its just rubbished info for noob . Experience and profitable trader can all notice this
I second this comment. 15% a year is pitiful for the work and risk you are taking on by trading. I hate to say it but if that's where you top out at as a trader, you're not that good. Great traders don't need a huge account to make incredible returns. They are very accurate with their entries and take very few losses.
no its not true. he is talking about small money like 1000 dollars, thats small money and you can't really consistently gaining 20% year on forex so easy
His logic is this: If banks are making 10 percents a year, then I can't get 50 percents. But there is an important point here, banks are trading with millions or even billions of dollars, but retail traders have way less initial balance
if trading with too small account, cannot do all strategies, stop loss is too small, and mainly even if I lose it all I don't have any psychological learning out of it, so suggest o start at least with 5k but rather 10-15k minimum account. I trade commodities, they require even more, 30-40k+
i am so happy about this sir;;;; my accout is too small. so i deposited 5usd.....so today i made 1.85 usd... i am so happy that money..... i want to make even 1usd a day... i will keep doing for a year to watch my account grow.....thanks
i under stand that you want to highlight the importance of risk management, but 20% a year is very low and conservative percentage, 50% or even 100% is very safe per year from my experience.
Small accounts are great for new traders. Not risking the farm on a new adventure. My advice on this is use this as it is meant to be used. You are learning and if you can get it right regularly then slowly add to your account. Trading small will give you the reality break that you aren't getting to uber cash any time soon as particularly on small accounts there is not a whole lot of trade size increments being gained through profits. However, with confidence and dedication you can have a feeling of if i keep at it then i will get there one day. The goal for all of us is to replace the day job. Notice i did not say have a ferrari or a private jet or anything totally nutty. Goal number 1 is always BE PROFITABLE !!!. Goal number 2 is replacing the slave job with FOREX. OK. so now we are not thinking in terms of millions next month.... we are thinking in terms of 200 to 300 a day as a target. Why so high... well....got to pay the evil taxation vampires so whatever you make in a day...double it...and that's what you need to make on FOREX to replace the day job.
Go for it! What's comfortable to me is not necessarily what's right for you. 1% a week seems easy enough, but there are weeks where a strategy will under perform inevitably. So for me, I'm looking to get a net total return around that figure.
My personal strategy is Stop loss averaging. I use a high leverage broker ( 1:400 to 1:1000) and then i will filter out the strong moves vs the weaker moves, I will average the stop losses ive used in the previous weeks that have produced the highest risk to reward ratios. And then ill keep the stop loss flat for a whole month. Bam 💥 you have incredibly high risk reward ratios like 1:10 to 1:20 especially if you daytrade or scalp. This is psychologically draining since youll lose positions over and over but then one big win will pay you for the whole week. Also im on the west coast trading the london session while still working my full time job so its tiring and i can only do it for 1-2 days a week before I start to have health problems with lack of sleep. It does pay for anything extra that i want though. The stop losses when daytrading are so small but theyre also active to my 1% risk tolerance per trade meaning that once it hits that stop loss even though Im leveraging with said position im only leveraging for a short time if its a loss and im pulled out of the position for a small loss.
I agree and like your videos Nick, the only thing I wonder here, is that if I have to only leave my money on the account or even deposit in order to grow the account, that means that I practically have no profit and I "work" in trading just for the shake of growing my account. How much time do I need to start withdrawing some money, even small amounts of money?
you may withdraw it some. what i mean is you need money (capital) to create money. If you take every 200$ you make in a year using $1000, you are not going anywhere. But if your base capital is big enough. Fx might cover your living cost
Compound 2-3% per month or so instead of 20 a year and it will be much faster. That’s my target. 5% is my max target but if I’m at 2-3 I’m super happy with that per month.
yes, 2% risk with minimum risk:reward 1:3 will gain 6% every successfull trade setup. id say fx could give 50-100% a year! but lets being realistic that 20% is pretty enough
How do you grow a small account? Realistically deposit more money so you don’t over leverage. Play the slow game. The fewer times you blow up and restart the quicker you will get there. Over leveraging isn’t the way to go. Save money deposit more over time.
I can generate on average about 100/200$ a day, going for 10 to 15 pips on leverage of 0.3 lots, I don’t place Tp or SL I do everything manually which means I’m a crazy guy who watches each and every candle form that’s all with 1k i will admit it’s a demo account and it’s yet to be tested on the real account but Im very patient I spend around 12 hours just watching charts I may average 5 to 6 trades a day
$200 per day sitting at your computer for 12 hours = $16.67 per hour on a successful day. If you are making $100 a day = $8.33 per hour. If you have losing days then it's costing you that. With those numbers, I myself plan on keeping my day job.
Forex trading with low money and low leverage is impossible to make heavy gains. Trading with high leverage however, even though it brings risks, the rewards are necessary to grow the account. Yes you could be safe and risk 1% of your account and not make a lot over the years (better of working part time or getting a full time job to sustain your lifestyle) . So you could use leverage with a small account and try limiting trades - I limit my trades to 1-2 at a time so I can keep a close eye. Only take highly directional trades - so when the market in your favour is at a higher percentage. Be more careful with your trades and use indicators for the upsides and the downs - evaluate your trades. Once your account grows you can reduce leverage and manage risk a lot better.
If i have a $1000 initial deposit and at the end of the year i had a drawdown of %15. It means i never had a loss of less than $200 in my account through out the whole year. If i deposited $300 i could still make that same profit i made on $1000. My advice is aim high very high, but dont invest all your money at once.
that's just depressing, if I wanna froze 1000 USD to wait 5 years to have the invested amount back,, I may die just trying to get that 1000 doubled, id rather loose the 1000 rather than froze it 5 years.. id rather take the risk..
It’s all depends upon the strategy that we use if we find huge drawdown then we should reduce the risk to very minimum nd reward also will be very smaller now we have two options either go with that strategy or change the strategy. Risk is completely variable in forex because it totally depends upon what we do in the market. Strategy and Mindset.
It's very, very, very, very, very realistic. No miracles here. BUT, I think that 20% a month is also very realistic. Don Steinitz would do !00% a month. (double his account) to do this, he would risk 10% of his account per trade. And much more than 100% in a month has been done by many people, but Don Steinitz did it every month consistently (to sell his custom indicator/template) BUT, he started over every month. He didn't let his account compound. It is recommended not to risk more than 3% of your account size. The banks may risk that much depending on how ideal the market conditions are. (If there is financial news, risk 1%, but no more than 15 pips trading the news. If there is a pattern, plus it is in the direction of the daily and weekly trend, and the market open, then they risk a larger percentage, up to 3%, etc.)
Nick I think in the videos you should add a person can't live off this small accounts full time and they should try and have other sources of income so they won't be very bothered about the low returns and compounding interest
If you make 20% year in year out with low drawdown you can manage OPM quite easily these days, some plateform are actively seeking people to fund. If you dont mind trading other's people money, you maybe better to focus on making low but steady returns instead of big but volatile ones. The lack of returns will be more then compensated by the access to extra capital
Would absolutely not do this. I understand not thinking you can get rich in 2 weeks. But 2 years of trading and only making $440. For people who was thinking about getting into forex and watched this, they probably would of decided not to.
Bro your content is good, but I'll not trade like this, what I was asking myself is, is this for life traders? Or just for people who have other job or money source?
john albert galaban You can make over time your investments every month. But you need a m expert to do that for you. Started forex last year and I’m seeing lots of profits every week.
In a video recently you said that it is unrealistic to gain more than 1 % per month, and that fund managers struggle to beat the S&P 500 index 7-10 % average yearly return. And in this video you say 20 % is a return you can aim for. Comments to this?
It's totally possible to gain 1-2% per month on average with a ton of experience and hard work. 1-2% will not happen every month though, and some months may be very good or very not good. 1-2 is an average.
Nick, i'm from south america, i want to start with $200 ( it's what I can afford to lose right now) What time frame and which strategy would you recommend for such a small account?
I'd recommend you trade on a demo, see what you are comfortable with, and only trade that money when you have your answers found out for yourself already. If you don't have a full plan, don't trade real money.
Any currency account could be easily grown at 1/2% to 1% per day..... Very doable.... I have a friend who makes a very good living with a $50,000 forex account.
Yh it is a business and bigger ones begin with larger capital. However, new businesses are also willing to take bigger risks with money because that's how you become successful. If you can't even double you account in a year then you're wasting time. That method you're speaking of is what works for people who have money. If you said 20% a month that is highly realistic and if a person can't make it I would suggest getting off forex and try something different
Sooo, 100$ is January 115$ in December? Wouldn't be worth it if I shot for that. I aim for 15% a week, and as the account grow I will start aiming for less
Hi I love your videos and they have really helped me in things I haven't understood. But I trade cfd and I make 15 percent daily no problem. Are you trading cfd too?
A billion dollar account 1% = $ 10 million and that's very good profit for one year ... but a $ 100 account is $ 1 a year. These are relative things and you need to process the topic more precisely.... there is no lot for $ 1 per year if you trade with $ 100, it is 0.000000000000001 lot and o.ooo1$ profit or lose per trade... a bank can't make 100% in one month ... if they have a $ 10,000 billion account ... they can't make $ 20 trillion in one month, but someone with $ 100 can make $ 200 in one month, you'll agree. Earning on forex is a relative thing. Therefore, this topic needs to be addressed in more detail.. I would say, the bigger the account, the lower the annual percentage earnings.
Hello Nick, I'm jay from india and struggling to learn trading and and wanted to compound my small trading account of 100$ can I start trading with 100$ and compound it and what should be the best strategy and timeframe to use to compound my account, although I know that losing is the part of trading, Waiting for your response
If you make only 20% a year, it means you're doing something wrong or you're being extremely but extremely conservative. You are not seeing the long-term learning curve and how it is possible to do those 20% much less time than in a year. Making 20% in Forex is very realizable in much shorter time. And I'm not proposing how to get rich in a month and all that crap. However, I agree with all the rest of the content of the video
So you're saying we should be aiming for less than a dollar profit per day, knowing that the margin we will have to put up is at least 50 bucks minimum? Sorry, but that doesn't sound right.
Whether one trades forex or any other asset class, the first step in achieving success is to create and follow a trading plan. "failing to plan is planning to fail" is an adage that holds true for any type of trading
I will like to start up with him. Can it be possible?
Well honestly I’ve heard a lot j on c testimonies of this man from his clients. Everyone acknowledges his expertise in the market and his in-depth knowledge
I have done my research on Mr Dan Raziel’s platform, and I consider to be one of the best platform for traders and newbies
@@staciesthespacegirl4151 the most important is strategy on how to gain
Jesus, wonderful phrase, great comment!
So with 1000$ opening balance you get 200$ profit per year, means 0,83$ profit on daily basis... So this is the worst paying job on planet!!!
This is not the truth.
In forex you can have daily profits of 5% of your balance.
Ye you right. I mean you have 365 days in one year and you can make more then 200$. There are like 260 trading days and if you make just 1$ every day( which is possible with lot size of 0.01) you would make 260$
What a sensible, realistic and down-to-earth young man. Such a refreshing change from the usual big-talking trader type with their flashy sports cars. Got yourself another subscriber!
+1 (973) 319-2995
i read the comments that most people are not being realistic. chasing fast gains and flipping their account. Thanks for being real Nick. You are talking about surviving the long term game and peaceful of mind
Hey Nick, that's amazing. I just started trading with $100 account. It totally taught me how to deal with the emotion, which wasn't easy. I feel good that your videos help me confirm that all I need is a great strategy that suits me, patience, and discipline. Thanks!
+1 (973) 319-2995
If you can be profitable in 6 months straight it means you are already a consistent trader. Then find your investor to fund you. Capital is not actually a problem. The problem is you.
i think that after one has gained confidence after many research and testing demo, they should try to deposit $100-200 to train their mental and be fully prepared to lose this and take it as your education fee. After getting a feel and more confidence and has shown at least consistent profitable, put in money you can lose preferably $1000 around there and compound.
Royal totally agree, I’ve been trading successfully in demo for more than half a year but burned out my 300 dollar account in just 2 months. Emotions play a huge role knowing that you’re trading REAL money.
I made a 350 euros deposit and currently with 800 euros in two moths, for me the most important thing about trading is patience, used a demo account for 5 months and before that studied a 2 and a half month. Persistence and PATIENCE, the 2 things most importante if you want to achieve anything
That’s what I did. I used $100, real money, minimum to practice with. I wanted to experience the real thing instead of demo. I can honestly say I learned way more a lot faster using real money and just setting it at a very low risk. Now, I’m at a point where I’ve been successfully profitable enough that I can actually afford to up the stakes with a little more with confidence now.
@@velwear I wanna ask you about the risk management of 100$ I wanna do the same before starting with 1000$ but for 100$ the risk management looks a little harder for me to handle
Abdo Ize I kept it really low and left it at 0.01, or 0.02. You won’t make much unless you start upping the stakes a little bit more, but I was just starting out, and didn’t want to risk too much; and blow my $100 account so quickly. I was just wanting to give myself enough space to get the real live feeling of what it would be like to trade real money is all. I’ve gotten better at it now. I have two ways I calculate my lot sizes now depending on the deposited amount that’s in my account. So there’s a little bit of simple math involved and I set my “RR” to either 1:1. 1:5, or 2:1. I have friends that do higher than that, but this is where I’m comfortable at trading for now.
Title should be revised: How to very slowly and very safely grow your small Forex Account.
Trading this way is nonsensical on a 1K account unless you are still in the learning phase.
Facts. He's not a very skilled trader. Just cuz you're profitable doesn't mean you're great. Low skilled traders need more capital cuz they have sub par returns
he is just being realistic and focus on the risk. yeah i agree that fx would give more than 50% a year
I see most commends are from experience traders . For new traders its the best advise you can learn on trading. I have been trading for more than 10 years and 5 years of blowing up small accounts after accounts. My advise is if you want to trade than invest at least $10k+ and ride the trend with $2.00 gaining pips. The trick is .. WHAT GOES UP COME DOWN .... so if the $2 can stand 150 pips and wont blow your $10K account. profit will come when the trend changes...
If you know what your doing a 1,000 account can be turned into a lot I personally turned $100 to 1,000 in two weeks it all depends on the lot sizes you use I seen people double their account in one trade
Darrian Raesaun was definitely today I I took $886 to about $1766(and still going) with just two trades
By using leverage?
Badangstin Y. No by Having a very incorrect Risk management and my position size too.
Me too i turn 100$ to 1billion dollar in two weeks
@@maxelusbawark5545 i can tell that u will blow ur account anytime soon. Ur strategy is just stupid
I know this is not a video about percent gains. But there is a very simple and objective Way to find how big returns you Can achieve in a year first you gotta find your expectancy Then expectancy x frequenzy x bet size/risk = yearly gain and calculate that in % and you have a reasonable number to go from
W1llbam exactly right! And there’s endless debate (probably my most controversial videos) on how much percentage you can achieve each year. My goal is less than what people might expect, but it’s what is comfortable to me. And to each their own :)
Damn people who start with 1k are gonna be real discouraged to watch your video, to make 300$ in 1year, honestly I think 15 to 30% on a monthly basis with a 2% daily risk is realistic with due diligence, patience for the right setups, commitment and time dedication.
Right nick is just super a conservative trader which is fine also i guess idk
1,000×1.15^36
=153,151.85193575115
So ok then .
Making an initial deposit of £1000 and making 15% per month and compounded at the beginning of each month for 3 years …..
£153,000
Come on birdbrains out there , if it was that easy don’t you think EVERYBODY WOULD BE DOING IT ❤
I made 19.51% in 2 weeks, all I did was backtest a profitable forex strategy along with a state of the art money management. I keep all my lot size small and consistency is the key. On a good day I even make 15 straight profitable trades but of course, losing is also part of the game. The advice Nick is giving should be applied to a stock investment portfolio. Overall a good video to understand the fundamental of compound interest.
Any chance you'd want to pass on said strategy to a new trader like myself
honestly nick, i gonna be straight with you, i have been in market for 10 years successful consistently for 5 years. i have mony in Reits, index and ETFs. if i want 20% a year i would leave it with them. If you are willing to learn money management and TRADE management and have knowledge of markets, u can easily make 50% or more.
He is an impostor. He doesnt know how to trade profitably. I just watch few video from him and its just rubbished info for noob . Experience and profitable trader can all notice this
I second this comment. 15% a year is pitiful for the work and risk you are taking on by trading. I hate to say it but if that's where you top out at as a trader, you're not that good. Great traders don't need a huge account to make incredible returns. They are very accurate with their entries and take very few losses.
that's why he said it was his opinion
no its not true. he is talking about small money like 1000 dollars, thats small money and you can't really consistently gaining 20% year on forex so easy
His logic is this: If banks are making 10 percents a year, then I can't get 50 percents.
But there is an important point here, banks are trading with millions or even billions of dollars, but retail traders have way less initial balance
if trading with too small account, cannot do all strategies, stop loss is too small, and mainly even if I lose it all I don't have any psychological learning out of it, so suggest o start at least with 5k but rather 10-15k minimum account. I trade commodities, they require even more, 30-40k+
i am so happy about this sir;;;; my accout is too small. so i deposited 5usd.....so today i made 1.85 usd... i am so happy that money..... i want to make even 1usd a day... i will keep doing for a year to watch my account grow.....thanks
i under stand that you want to highlight the importance of risk management, but 20% a year is very low and conservative percentage, 50% or even 100% is very safe per year from my experience.
Yes, patience! Sorry for all the comments, I’m binging your videos as I’m addicted to trading and have to wait all weekend for the market to reopen 😂
Small accounts are great for new traders. Not risking the farm on a new adventure. My advice on this is use this as it is meant to be used. You are learning and if you can get it right regularly then slowly add to your account. Trading small will give you the reality break that you aren't getting to uber cash any time soon as particularly on small accounts there is not a whole lot of trade size increments being gained through profits. However, with confidence and dedication you can have a feeling of if i keep at it then i will get there one day. The goal for all of us is to replace the day job. Notice i did not say have a ferrari or a private jet or anything totally nutty. Goal number 1 is always BE PROFITABLE !!!. Goal number 2 is replacing the slave job with FOREX. OK. so now we are not thinking in terms of millions next month.... we are thinking in terms of 200 to 300 a day as a target. Why so high... well....got to pay the evil taxation vampires so whatever you make in a day...double it...and that's what you need to make on FOREX to replace the day job.
A 1% return compounded per week will far exceed the annual 20% target. This is very achievable which is what I'm trying.
Go for it! What's comfortable to me is not necessarily what's right for you. 1% a week seems easy enough, but there are weeks where a strategy will under perform inevitably. So for me, I'm looking to get a net total return around that figure.
@@TraderNick I understand.
Perfect ! Finance is all about compounding. Creating a Pipeline. 💐💐💐
My personal strategy is Stop loss averaging. I use a high leverage broker ( 1:400 to 1:1000) and then i will filter out the strong moves vs the weaker moves, I will average the stop losses ive used in the previous weeks that have produced the highest risk to reward ratios. And then ill keep the stop loss flat for a whole month. Bam 💥 you have incredibly high risk reward ratios like 1:10 to 1:20 especially if you daytrade or scalp. This is psychologically draining since youll lose positions over and over but then one big win will pay you for the whole week. Also im on the west coast trading the london session while still working my full time job so its tiring and i can only do it for 1-2 days a week before I start to have health problems with lack of sleep. It does pay for anything extra that i want though. The stop losses when daytrading are so small but theyre also active to my 1% risk tolerance per trade meaning that once it hits that stop loss even though Im leveraging with said position im only leveraging for a short time if its a loss and im pulled out of the position for a small loss.
Exactly why I use your VIP service. Love the realistic info and expectations keep it up man!
+1 (973) 319-2995
You are truly realistic...and humble....I appreciate
good information! Making living from trading is what I come to forex but I oftenly forget learning curve is the first thing to do.
I love Nick's wisdom and sound advise
I agree and like your videos Nick, the only thing I wonder here, is that if I have to only leave my money on the account or even deposit in order to grow the account, that means that I practically have no profit and I "work" in trading just for the shake of growing my account. How much time do I need to start withdrawing some money, even small amounts of money?
After 25 years 😂😂😂
you may withdraw it some. what i mean is you need money (capital) to create money. If you take every 200$ you make in a year using $1000, you are not going anywhere. But if your base capital is big enough. Fx might cover your living cost
Compound 2-3% per month or so instead of 20 a year and it will be much faster. That’s my target. 5% is my max target but if I’m at 2-3 I’m super happy with that per month.
1224.19 is roughly the account size at the end of the year at 20%/12 compounded monthly and over time that will make a huge difference.
you could even raise your compund faster if your risk = 2% or more of your account
yes, 2% risk with minimum risk:reward 1:3 will gain 6% every successfull trade setup. id say fx could give 50-100% a year! but lets being realistic that 20% is pretty enough
How do you grow a small account? Realistically deposit more money so you don’t over leverage. Play the slow game. The fewer times you blow up and restart the quicker you will get there. Over leveraging isn’t the way to go. Save money deposit more over time.
great Nick,
you are very sincere on all what you are saying
Thank you for being real Nick
I’ve seen traders trade 1% per trade and make 20% per month... it all depends on the traders skill. 30% a year is pretty low still.
I can generate on average about 100/200$ a day, going for 10 to 15 pips on leverage of 0.3 lots, I don’t place Tp or SL I do everything manually which means I’m a crazy guy who watches each and every candle form that’s all with 1k i will admit it’s a demo account and it’s yet to be tested on the real account but Im very patient I spend around 12 hours just watching charts I may average 5 to 6 trades a day
So how does the no stop loss strategy work for you?
eh
At least you should set the tp... It will be safer interms of collecting profit...
and then a spike from news up to 50+ pips will blow your account
$200 per day sitting at your computer for 12 hours = $16.67 per hour on a successful day. If you are making $100 a day = $8.33 per hour. If you have losing days then it's costing you that. With those numbers, I myself plan on keeping my day job.
Pretty good video and a lot of people skip this part or investing/trading.
Forex trading with low money and low leverage is impossible to make heavy gains. Trading with high leverage however, even though it brings risks, the rewards are necessary to grow the account. Yes you could be safe and risk 1% of your account and not make a lot over the years (better of working part time or getting a full time job to sustain your lifestyle) . So you could use leverage with a small account and try limiting trades - I limit my trades to 1-2 at a time so I can keep a close eye. Only take highly directional trades - so when the market in your favour is at a higher percentage. Be more careful with your trades and use indicators for the upsides and the downs - evaluate your trades. Once your account grows you can reduce leverage and manage risk a lot better.
Sir, how about using leverage in order to grow our account faster?
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If i have a $1000 initial deposit and at the end of the year i had a drawdown of %15. It means i never had a loss of less than $200 in my account through out the whole year.
If i deposited $300 i could still make that same profit i made on $1000.
My advice is aim high very high, but dont invest all your money at once.
Seen this very late….But still a great content,thanks for the education Nick🤝🏼
Learnt alot over these 14 minutes thanks Nick
that's just depressing, if I wanna froze 1000 USD to wait 5 years to have the invested amount back,, I may die just trying to get that 1000 doubled, id rather loose the 1000 rather than froze it 5 years.. id rather take the risk..
Hi Nik, your video contents are very useful to me. Thank you.
Bro good content but 20 percent a year is too low
Kindly contact my official admin for a profitable site now thank you + 1 (9 7 1) 2 4 8-8 4 2 9
I’m beginning to see the light ...thanks nick.
It’s all depends upon the strategy that we use if we find huge drawdown then we should reduce the risk to very minimum nd reward also will be very smaller now we have two options either go with that strategy or change the strategy. Risk is completely variable in forex because it totally depends upon what we do in the market. Strategy and Mindset.
I'm from india, you are Great sir
It's very, very, very, very, very realistic. No miracles here. BUT, I think that 20% a month is also very realistic. Don Steinitz would do !00% a month. (double his account) to do this, he would risk 10% of his account per trade. And much more than 100% in a month has been done by many people, but Don Steinitz did it every month consistently (to sell his custom indicator/template) BUT, he started over every month. He didn't let his account compound. It is recommended not to risk more than 3% of your account size. The banks may risk that much depending on how ideal the market conditions are. (If there is financial news, risk 1%, but no more than 15 pips trading the news. If there is a pattern, plus it is in the direction of the daily and weekly trend, and the market open, then they risk a larger percentage, up to 3%, etc.)
Always providing great content. Thank you!
great video nick. you're right in time & patience being a big factor
Nick I think in the videos you should add a person can't live off this small accounts full time and they should try and have other sources of income so they won't be very bothered about the low returns and compounding interest
"So are you getting rich out of your trading account? NO YOU ARE NOT" Thanks Nick :( Liked!
Hi Nick, thanks for a very educational video. Enjoyed it very much !!!
Swing trading, risk management that's that we can do it easy 500 pips per week and just two mini lots boom but with a strict 20 pip stop loss
Hey Nick, how much capital would i need for it not to be a small account ?
I'd probably say anything under 10k is a small account
I just trading for side hustle....not for main income....and 2-3% per day is works smooth on me....today (21-5-2022) i even got 10.2%
Do You follow Risk Management
14min to explain the word compound...
Using a good trading strategy and trading the right pairs or indices and good leverage, $1k can be turned into 10k in a month or two!
I love you bro.. For your real information..
What’s is considered a average or large account
If you make 20% year in year out with low drawdown you can manage OPM quite easily these days, some plateform are actively seeking people to fund. If you dont mind trading other's people money, you maybe better to focus on making low but steady returns instead of big but volatile ones. The lack of returns will be more then compensated by the access to extra capital
That is exactly right
Nailed it...
now you just need a 60% win rate strategy with 1.5:1 RR and your on your way.
Would absolutely not do this. I understand not thinking you can get rich in 2 weeks. But 2 years of trading and only making $440. For people who was thinking about getting into forex and watched this, they probably would of decided not to.
Bro your content is good, but I'll not trade like this, what I was asking myself is, is this for life traders? Or just for people who have other job or money source?
How many times a day do you trade?
Ask him...Im just starting out. Ive made a 1000 percent in a month. it's just dumb and waste of time to make 30 percent a year.
can you make a gain like 3% monthly consistent in forex? .. then compound it every month
john albert galaban You can make over time your investments every month. But you need a m expert to do that for you. Started forex last year and I’m seeing lots of profits every week.
its not easy as you may think.
Fantastic video Nick!
Regards from the Canary Islands :)
I needed this.Thnks for sharing
Hi Sir Nick, how can I trade too?
Need more learnings here and watch your videos.
Thank you very much. 😊
In a video recently you said that it is unrealistic to gain more than 1 % per month, and that fund managers struggle to beat the S&P 500 index 7-10 % average yearly return. And in this video you say 20 % is a return you can aim for. Comments to this?
It's totally possible to gain 1-2% per month on average with a ton of experience and hard work. 1-2% will not happen every month though, and some months may be very good or very not good. 1-2 is an average.
@@TraderNick Ok yes i understand, so if you gain 20 % per year consistently you beat the best fund managers in their boots :P
nick i am learning from you ...Indian..very informative
Guys please believe me, you can make %60 or %100 profit monthly. %20 per year is just bullshit except you have large funds.
That's if u use shit risk management
Hello sir.
Give a lecture on tweezer top and tweezer bottom candlestick patterns? And if we find so how we trade?
Shabir Rizwan I like that idea!
@@TraderNick 😍 thank you sir. I'm waiting
Nick, i'm from south america, i want to start with $200 ( it's what I can afford to lose right now) What time frame and which strategy would you recommend for such a small account?
I'd recommend you trade on a demo, see what you are comfortable with, and only trade that money when you have your answers found out for yourself already. If you don't have a full plan, don't trade real money.
Very good info Nick. Happy Thanksgiving to you and your family.
Forex is not for risk adverse person. If you afraid to lose or win you better find other bussiness. Lose is a process in learning to sucsess
Any currency account could be easily grown at 1/2% to 1% per day..... Very doable.... I have a friend who makes a very good living with a $50,000 forex account.
Thanks for this tips
Yh it is a business and bigger ones begin with larger capital. However, new businesses are also willing to take bigger risks with money because that's how you become successful. If you can't even double you account in a year then you're wasting time. That method you're speaking of is what works for people who have money. If you said 20% a month that is highly realistic and if a person can't make it I would suggest getting off forex and try something different
I liked this vid on the first 5 sec....... because it's Nick
I would rather flip a burger all day long than make 200 dollars a year. :)
you can work at mcd and still do trading to escape that trap
thats what nick is saying
Thanks!!
Sooo, 100$ is January 115$ in December? Wouldn't be worth it if I shot for that. I aim for 15% a week, and as the account grow I will start aiming for less
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Thank you i learned a lot.
Instructions weren’t clear I’m at a retirement home still haven’t made a 60% return
Hi I love your videos and they have really helped me in things I haven't understood. But I trade cfd and I make 15 percent daily no problem. Are you trading cfd too?
im really learning alot as a new trader by watchinng ur vids
ahmed mahat keep learning for free Ahmed. Cheers
Me too
become a successful trader !
Does somebody know a broker which has a mini account (not micro... MINI) where 1.00 lot = 10.000 units?
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can you make a video about the best trusted brokers?
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A billion dollar account 1% = $ 10 million and that's very good profit for one year ... but a $ 100 account is $ 1 a year. These are relative things and you need to process the topic more precisely.... there is no lot for $ 1 per year if you trade with $ 100, it is 0.000000000000001 lot and o.ooo1$ profit or lose per trade...
a bank can't make 100% in one month ... if they have a $ 10,000 billion account ... they can't make $ 20 trillion in one month, but someone with $ 100 can make $ 200 in one month, you'll agree. Earning on forex is a relative thing. Therefore, this topic needs to be addressed in more detail.. I would say, the bigger the account, the lower the annual percentage earnings.
Hello Nick,
I'm jay from india and struggling to learn trading and and wanted to compound my small trading account of 100$ can I start trading with 100$ and compound it and what should be the best strategy and timeframe to use to compound my account, although I know that losing is the part of trading,
Waiting for your response
If you make only 20% a year, it means you're doing something wrong or you're being extremely but extremely conservative. You are not seeing the long-term learning curve and how it is possible to do those 20% much less time than in a year. Making 20% in Forex is very realizable in much shorter time. And I'm not proposing how to get rich in a month and all that crap. However, I agree with all the rest of the content of the video
Your not doing anything wrong that's what hedge funds aim for per year. And making 20% a year for s hedge fund is very challenging.
You could also add money from your job every pay day.
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good job
what broker do you use?
Jordan Fogel tradernickfx.com/preferred-brokers/
@@TraderNick I trade with Pepperstone
So you're saying we should be aiming for less than a dollar profit per day, knowing that the margin we will have to put up is at least 50 bucks minimum?
Sorry, but that doesn't sound right.
200 dollers a year means you will be making about 0.83 a day🤔 nobody got that much patience🙅♂️😂😂😂
1000*(1.2)^10=6191 $ After Ten years.I am out 10 % per month is Easy
that means you making 1.6% a month?