Exactly what I would expect someone who has read Q's website to say. But come on. Almost all his guests have a ton of material and even books out. It would still be cool to have him on. Especially since Richard is a great interviewer. @8ema533
Love this. Leos journey is just like mine. Anyone that blows up a trade or account, whether you are a PhD from MIT or high school dropout they all have the same thing in common... poor risk management. Even after years of trading every once in a while I do something stupid. Trading is a battle with yourself. I don't said this but I read this quote that has stuck with me and I believe it's true... "The Market doesn't give you want you want it gives you who you are" It took me a while to understand it but its so true to me both in trading and in life.
Great to hear real world experience from Leos. Really thankful to this channel for creating these in-depth interviews. At times I was having a hard time following where Leos was in the charts.
Brilliant interview, loved how open he was about sharing his losses, would help us a lot, if going ahead losses are shown as much as winners. Thank you for everything, this is an brilliant channel and you are doing an excellent job.
Thank you Richard for such a wonderful people you bring in here, it is always a great learning. learnt a lot from your videos. Much appreciate your work.
📘 Get your FREE 115-page Ultimate Trading Guide! - traderlion.com/YTC-UTG 👇 What you'll learn! -------------------------------------------------------------------------------------------------------------------------------------------------------------- Lesson 1: Build a sturdy trading foundation to overcome the biggest obstacles holding you back. Lesson 2: Master 3 powerful trading setups to adapt and thrive in various market conditions. Lesson 3: Efficiently screen and find top-performing stocks with strong momentum and high growth potential. Lesson 4: Establish a streamlined risk management strategy using stop losses, position sizing, and portfolio heat analysis. Lesson 5: Optimize selling decisions by identifying late-stage bases or key trend reversals by analyzing daily and weekly charts. Lesson 6: Sharpen your trading analysis and decision-making by integrating cutting-edge analytical tools and techniques. Lesson 7: How to establish and maintain routine weekly and daily trading practices to ensure consistent performance and continuous improvement.
Great interview as always Richard! I did have trouble following his curser starting around the 41 minute mark. Couldn't really tell where he entered and exited.
I love how this guy lost alot in the first year and recover in a couple of years. This is totally relatable since practically the same thing happened to me.
I would say a vast majority of traders experience the same struggles when they first start. Have to put in the work, fight your own demons and continuously improve to make it in the business!
How does one take position sizes of 25% of account? This means that the selection process of the stocks themselves is vastly more important than the technical setups. This would mean Leos is trading maybe 4-8 names at a time. This suggests gigantic conviction and how such traders get such conviction is rarely discussed. Would love to learn more about that side of it.
@@TraderLion Thanks for your reply :) What I am getting at is that a decision to take such a huge position size must be based on something non-technical. This is not about setups. Not a 1 in 10,000 decision. We need to know the selection criteria, not the entrance setup. Because you could easily enter these winning stocks in many places and get near-equivalent returns.
@@TraderLion Do these 3%-5% stops refer to the stock price at the moment they enter? Let's say, if they enter at $100, are the stops at $97-$95? Or do they refer to 3-5% of their total account? Assuming it's the former, so if you have a $100,000 account, buy a stock at $100 and put 25% of you account in it, you buy 250 shares. If the price falls 3% to $97 and you get out, you take a $750 loss, which is 0.75% of the account. if the stop is at 5%, then you would be stopped out at $95 for a $1,250, loss, which is 1.25% of the account. Is this how they do it? And if you take, let's say, 16 losses in a row, ten 3% losses, and six 5% losses, which can easily happen, you would lose $15,000, a 15% loss, is this correct? I'm using a 25% size, if you use 20% the numbers are a bit smaller, but if what I'm saying is correct then what I think distinguishes these top traders from the rest of us is not their chart reading or technical setups, which I can do as well as them, but their strong stomachs, conviction, and capacity to stay in for a bigger move, because all this can be very difficult to take. I also think he made a small error, It's not really important, but he mentions that a 5% loss on a quarter position, so a 6.25% position of your account (taking a 25% position size), is 1.5% of your account, but this is not right, it would be 0.003125%.
Please Bring Quallamaggi as well
💯 he has done enough, no need to be on this channel people don't want to put time to learn they are waiting for some miracle
We would love to have him on! Help us out and convince him to present!
Exactly what I would expect someone who has read Q's website to say. But come on. Almost all his guests have a ton of material and even books out. It would still be cool to have him on. Especially since Richard is a great interviewer. @8ema533
He’s far too busy. 😂
Q won't do the show. He operates in another dimension. You know, like in Star Trek
Enjoy everyone! Leos was excellent
Awesome interview. One of the best trading channels on TH-cam.
Appreciate that
Follow Leos Mikulka on Twitter/X: x.com/mikulkal
🕰 Timestamps 🕰
00:00 - Leos Mikulka - +300% Return Halfway In 2024 USIC!
05:30 - Trading Journey Beginnings
10:43 - Type Of Charts To Study
12:50 - Importance Of Position Sizing
14:20 - Trading Journey Phases
21:28 - Advice To Past Self & Batting Average
26:00 - USIC Journey
27:14 - Trading Style
30:06 - Weekly Routine
33:02 - Trade Examples & Price Action Breakdown
44:43 - Stop Loss Management & Position Sizing
50:57 - Daily Routine
53:03 - Trading Psychology
54:05 - More Chart Examples
01:02:45 - Advice To New Traders
01:03:56 - Conclusion
One of the best I have watched. So much depth and experience!
I’m glad you enjoyed it!
Very nice to hear once again from someone that has been through all the stages of a trader and was able to succeed.
Great video…
Glad you enjoyed it!
Love this. Leos journey is just like mine. Anyone that blows up a trade or account, whether you are a PhD from MIT or high school dropout they all have the same thing in common... poor risk management. Even after years of trading every once in a while I do something stupid. Trading is a battle with yourself. I don't said this but I read this quote that has stuck with me and I believe it's true... "The Market doesn't give you want you want it gives you who you are" It took me a while to understand it but its so true to me both in trading and in life.
The market is a great teacher if we're willing to listen and change!
Great to hear real world experience from Leos. Really thankful to this channel for creating these in-depth interviews. At times I was having a hard time following where Leos was in the charts.
Glad to hear you enjoyed it, and sorry about that we'll as, guests to use pointers next time.
I really like the real world stories of these interviews
Thanks Daniel!
Brilliant interview, loved how open he was about sharing his losses, would help us a lot, if going ahead losses are shown as much as winners. Thank you for everything, this is an brilliant channel and you are doing an excellent job.
Glad you enjoyed it! Thank you!
Excellent interview, good luck Leos. Thanks Richard as always 5 ⭐️👊👍
Much appreciated!
This was an excellent interview👏. Learned so much out of it! Thanks to both of you guys😊
Our pleasure!
Great interview as always, thank you so much, Leos and Richard!
You're welcome! Thanks for watching!
Great interview Richard. Thank-you
Glad you enjoyed it
Great interview, thank you so much, gentlemen.
Glad you enjoyed it!
Thank you Richard for such a wonderful people you bring in here, it is always a great learning. learnt a lot from your videos. Much appreciate your work.
You are very welcome
It was almost impossible to see where he was pointing to his buy point on the graph. Didn't you notice?
I thought I was the only one. It’s like the pointer was invisible.
Only people with IQ > 200 can see the mouse
Hello, we will make this improvement in the next podcast
Sorry about that
Sorry about that we will improve it
Where can we download his presentation file? There are interesting learning
TraderLion.com
32:53 great structure by Leos!
Agreed!
Great interview Richard : lot of learnings
Thanks!! Glad you enjoyed it
could we get the slides ?
On TraderLion.com
congrats Leos, good stuff.
Thanks 👍
📘 Get your FREE 115-page Ultimate Trading Guide! - traderlion.com/YTC-UTG
👇 What you'll learn!
--------------------------------------------------------------------------------------------------------------------------------------------------------------
Lesson 1: Build a sturdy trading foundation to overcome the biggest obstacles holding you back.
Lesson 2: Master 3 powerful trading setups to adapt and thrive in various market conditions.
Lesson 3: Efficiently screen and find top-performing stocks with strong momentum and high growth potential.
Lesson 4: Establish a streamlined risk management strategy using stop losses, position sizing, and portfolio heat analysis.
Lesson 5: Optimize selling decisions by identifying late-stage bases or key trend reversals by analyzing daily and weekly charts.
Lesson 6: Sharpen your trading analysis and decision-making by integrating cutting-edge analytical tools and techniques.
Lesson 7: How to establish and maintain routine weekly and daily trading practices to ensure consistent performance and continuous improvement.
Great interview as always Richard! I did have trouble following his curser starting around the 41 minute mark. Couldn't really tell where he entered and exited.
Glad you enjoyed it. We will improve this
The cursor is not visible most of the times, making it hard to understand where he entered or exited
we have noted and will improve in the future videos.
Time for a follow up interview!
Totally!
Why he showing 2016 $wb chart?
I love how this guy lost alot in the first year and recover in a couple of years. This is totally relatable since practically the same thing happened to me.
I would say a vast majority of traders experience the same struggles when they first start. Have to put in the work, fight your own demons and continuously improve to make it in the business!
Thanks for sharing 🙏
Happy to! Glad you enjoyed it!
Richard thanks for your contribution in our learing.
Please bring Dan Zanger as well.
Thanks! We'll try
Leo the Lion 🦁
Indeed!
Good job bro
Thank you so much 😀
Thank you!!
Welcome!
How does one take position sizes of 25% of account? This means that the selection process of the stocks themselves is vastly more important than the technical setups. This would mean Leos is trading maybe 4-8 names at a time. This suggests gigantic conviction and how such traders get such conviction is rarely discussed. Would love to learn more about that side of it.
Most of the investing championship styles traders have position sizes of 25-50% with tighter 3-5% stops when they enter trades.
@@TraderLion Thanks for your reply :) What I am getting at is that a decision to take such a huge position size must be based on something non-technical. This is not about setups. Not a 1 in 10,000 decision. We need to know the selection criteria, not the entrance setup. Because you could easily enter these winning stocks in many places and get near-equivalent returns.
I've thought and asked the same things a few times, and I agree, that's something it's not touched upon.
@@TraderLion Do these 3%-5% stops refer to the stock price at the moment they enter? Let's say, if they enter at $100, are the stops at $97-$95? Or do they refer to 3-5% of their total account?
Assuming it's the former, so if you have a $100,000 account, buy a stock at $100 and put 25% of you account in it, you buy 250 shares. If the price falls 3% to $97 and you get out, you take a $750 loss, which is 0.75% of the account. if the stop is at 5%, then you would be stopped out at $95 for a $1,250, loss, which is 1.25% of the account. Is this how they do it? And if you take, let's say, 16 losses in a row, ten 3% losses, and six 5% losses, which can easily happen, you would lose $15,000, a 15% loss, is this correct?
I'm using a 25% size, if you use 20% the numbers are a bit smaller, but if what I'm saying is correct then what I think distinguishes these top traders from the rest of us is not their chart reading or technical setups, which I can do as well as them, but their strong stomachs, conviction, and capacity to stay in for a bigger move, because all this can be very difficult to take.
I also think he made a small error, It's not really important, but he mentions that a 5% loss on a quarter position, so a 6.25% position of your account (taking a 25% position size), is 1.5% of your account, but this is not right, it would be 0.003125%.
@@user-lk3oo5uq4ztrading is just purely technical. You need to assess financial statements, especially if u have a very large position.
Pls share the ppt... That's way it's easy to revise the lesson rather than watching the whole video..
Charts should be zoomed in during convo.
Thanks for highlighting it. We will keep a note of it.
Wow. Leos beginning is just like me right now.
Use this video and others on our channel to speed up your learning curve!
Yeah, was very difficult to follow along the charts
Sorry about that we will improve it
How many of these top placers beat the spx over 20 years? My dad has bought and held over 40 years and absolutely killed it. Stocks and mutual funds…
If you don't have a passion for trading, passively investing in index funds are the way to go!
Thank you！
Welcome!
Update: He is up 530%. It's just ridiculous 😅😅
It is!
900%
@@ahmedalshamsi6528 How is this even possible 😳
Uggh, he went through the “wrecker” phase.
Don't we all 😅