so true. Im new for trading. I start my account with 200$ and in the past 5 month grow up to 600$ step by step. of course its not a money for living but I was able to gain some skills, experience and most importantly my confidence.
This was great, I've been looking for "pips forex trading" for a while now, and I think this has helped. Ever heard of - Menabeth Pips Parapraxis - (do a google search ) ? Ive heard some decent things about it and my colleague got excellent success with it.
Nick it’s all about how you approach forex in the first place. if you chasing a lifestyle then compound interest won’t work for someone who wants to start posting on Instagram his flashy new lifestyle. But if your approach is business based you will appreciate 2% gain because you mentally prepared for the long journey. Well it’s how I approached trading after a year of stupid mistakes
as a future trader since over 8 years I can say its a good explanation why so many people crashes their small accounts , why ? because they want to make millions or at least want to make a living from trading with a 1000 dollar account what is not possible. that's why they start gambling with 10% risk per position. you never get successful this way. all you can do with 1000 dollars is grow that account and maybe one day when you account hits 30k or more and you make your 10% a month , congratulations then you are a professional trader. greetings
what are you talking about it is possible.... its just rare. thats like saying its impossible to get rich going to the casino same thing if people treat it as such. Anything is possible at all times some of us catch it some dont
When it comes to trading fx online, you should not be to optimistic. Not being greedy and being realistic are some of the important secrets of currency trading.
Believe it or not, around 80% of retail forex traders are actually losing money when trading forex. The main reason is that these traders are not prepared to trade on high volatility periods, and that they tend to be too greedy.
It is important to choose a trustworthy, reliable broker, and a suitable trading account, as this will be a big indication of your success in this market. Mr AlexPaton is a reliable broker. I do my trades with him.
You are so right about it. I have other business as well. Most of the ppl not in the business construed us as we are making shocking income and still lay low. Trading is not a certainty but a probability. Almost everyone I met would be very interested to approach for the topic. Many are trying to step in without knowing the details or put in the patience to learn and end up losing money. I tried many ways to explain. Your video is a good wake up call to share with them.
yep..your're right bruh ... grew my account from 100 - 117 in 12 hours but instead of taking profits i kept the positions open... and in 2 hours i lost it all now i believe smaller lot sizes are the way for consistent profits
Binged on a couple of your videos and I must say it's super insightful. Now I know where my go-to Forex Educator is. Super Transparent and Understandable. PS: I heard the part were you said you are not so good at math and I could totally relate. It's however hilarious how a lot of people think that you need to know a lot about Math to Trade the Forex market. I think you should make a video explaining this myth.
''Risk is everything when it comes to trading. It's not about how much money you can make, it's about keeping money in your account and protecting the capital you bring to the table.'' thanks so much for that Nick
This is very educational but I’m still a little confused on what lot size to use. Say I’m a scalper and my stop loss is 10 pips. I have a $1000 account and I want to risk 1%. What’s the lot size I should use to enter the trade?
To be sincere, Nick, that leverage has really put me in trouble, as a beginner. All my account was blown out in just few days. But now, since I have been watching your videos, I have been so confidence in trading than before because the risk involved in my trade is not too much; It's affordable and bearable for me. If I have $50-dollar account, and I am risking $3 dollars, I think this is not too much for me. Thanks a lot. This is reality video, please.
This is fantastic Nick am so grateful for this video, you just save me from blowing my account. I had always think 10% to 20% risk is good enough for a big account but was dead wrong.
I like the way you say. I didn't know this now I really understand this and I really happy about this, we must don't risk too much risk lots size because if you have small accounts it will blow all accounts. We must risk small lots size until we grow account. I was ask myself why I lose too much money because I risk too much then I find risk small lots size and grow account the day or week
i keep my max loss under 5% of my account. what i play for lots kind of depends on what kind of SL i am willing to tolerate. Generally i work with a 20 SL usually. Where my loss tolerance gets really tested is when i have multiple positions. This is where i take advantage of leverage. Leverage allows me to have more positions. I have some running for days....months... and i do play short trades of a few hours. so...i love having the leverage allowance to this sort of thing.
It was a rrealy insightful video but you still didn't explain how to calculate lot size based on the stop loss. I think a video like that would be great!
If we are losing 10% per trade, shouldn't the equity decrease accordingly? This would give us values of -100, -90, -80, -70, and -60. Yes? I am very new to trading so please correct me if I'm wrong.
Good video. Thanks for the help. Been trading for many moons and just given info I needed hear years ago. Working on the 50:1 . Let's see how good I can be!!
Hi Nick, thank you for great advice on how to protect my capital, in your style of trading, how much lot size would you most select to enter a position based on your account size? I‘m currently enter 0,02 lot size for every $350 in my capital.
Now I can't stop stressing about risk management lol thanks nick I learn alot from all your videos what you said hit home I'd rather lose 5 times with good risk management instead of 5 times with no risk management in tact appreciate this content
ok i know my risk management, i determine and how many position sizes to take and now how do i know i take leverage according to same risk mgmt approach?? can someone help me with that?
i dont think that make sense. When you lose 10% of 1k thats 100 but after the 1st trade you have 900 left and 10% of that is not 100, with that said after 5 losing trades in a row you will have more than 500
How can you calculate your risk per trade the best? If you're risking like 2% per trade what should your Stop loss then be. How do you do this the mbest
Tradingview, Papertrade account. In the long position tool, my quantity displayed on the tool appears in 9-10 digit numbers. Is this a problem? How do I convert this to lot size, do I divide the entire 9-10 digit number by 10,000?
Hi Nick - which Trading platform you use for your trading , which Platform your recommend for a beginner should be secured and approved by government authority?
This has really helped me so much...You are very level headed and you definitely use common sense when trading. Thanks for the advice. I will definitely take this approach to my trading and remain patient with the process. Every good thing takes time!
seems like you did a lot of explaining the Why.... im more interested in the how. how do you stay on 1% as the different currencies have different pip values... how do you know what lot size to use
Hi nick thanks for your video its informative. My question is my broker trade in gold in sell not buy, but now gold is in bullish pattern. Now im losing lots of my fund. Is that a bad move.... Thanks
so true. Im new for trading. I start my account with 200$ and in the past 5 month grow up to 600$ step by step. of course its not a money for living but I was able to gain some skills, experience and most importantly my confidence.
That's the exact mindset that can grow into bigger numbers over time. Cheers Alex.
@@TraderNick thanks man
This was great, I've been looking for "pips forex trading" for a while now, and I think this has helped. Ever heard of - Menabeth Pips Parapraxis - (do a google search ) ? Ive heard some decent things about it and my colleague got excellent success with it.
How’s your trading doing now?
2023 update ??
I love honest trader. Subscribed!
Nick it’s all about how you approach forex in the first place. if you chasing a lifestyle then compound interest won’t work for someone who wants to start posting on Instagram his flashy new lifestyle. But if your approach is business based you will appreciate 2% gain because you mentally prepared for the long journey. Well it’s how I approached trading after a year of stupid mistakes
Nick is really the best teacher in Forex
U are right bro
This concept changed my game for good
as a future trader since over 8 years I can say its a good explanation why so many people crashes their small accounts , why ? because they want to make millions or at least want to make a living from trading with a 1000 dollar account what is not possible. that's why they start gambling with 10% risk per position. you never get successful this way. all you can do with 1000 dollars is grow that account and maybe one day when you account hits 30k or more and you make your 10% a month , congratulations then you are a professional trader. greetings
what are you talking about it is possible.... its just rare. thats like saying its impossible to get rich going to the casino same thing if people treat it as such. Anything is possible at all times some of us catch it some dont
Real shit 💯
@@KH-mb1jg I hope your mindset has grown now
Perfect
You are a solution to the cry of millions...thumbs up bro...
Nick is the truth, a realistic approach to the world of trading
When it comes to trading fx online, you should not be to optimistic. Not being greedy and being realistic are some of the important secrets of currency trading.
Believe it or not, around 80% of retail forex traders are actually losing money when trading forex. The main reason is that these traders are not prepared to trade on high volatility periods, and that they tend to be too greedy.
It is important to choose a trustworthy, reliable broker, and a suitable trading account, as this will be a big indication of your success in this market. Mr AlexPaton is a reliable broker. I do my trades with him.
[+1 872201 8317] that’s his working line. contact him directly
Thanks
the relaxing music in the back is so fitting for your style of trading :') much love, yet again nick!
Good advice! Protecting the account and not hoping for luck in gambling is the right mindset.
Thanks Nick
Risk management is the source of all horrors in trading. The battle between fear and greed
I just wanted to thank you for answering with that remark and I'll appreciate the 1percentage per trade!!
Yes! This was MEGA Helpful! THis was very well explained and I understood every each step of the way! Thank You!
You are so right about it. I have other business as well. Most of the ppl not in the business construed us as we are making shocking income and still lay low. Trading is not a certainty but a probability. Almost everyone I met would be very interested to approach for the topic. Many are trying to step in without knowing the details or put in the patience to learn and end up losing money. I tried many ways to explain. Your video is a good wake up call to share with them.
I was asked to watch this because I make type 2 losses and now I understand this thanks nick consistency is the game
I love the way you speak
I enjoy the way you teach
I like your voice Nick....
The reality of trading is not about flashy cars and lifestyles shown by those crooks. Hats off to you Nick. I wish I had found this video sooner
yep..your're right bruh ...
grew my account from 100 - 117 in 12 hours but instead of taking profits i kept the positions open... and in 2 hours i lost it all
now i believe smaller lot sizes are the way for consistent profits
Greed Always will take you down .... i blow up $700 this month ...but yesterday I made my first $15 with proper risk management and small lot
Binged on a couple of your videos and I must say it's super insightful. Now I know where my go-to Forex Educator is. Super Transparent and Understandable. PS: I heard the part were you said you are not so good at math and I could totally relate. It's however hilarious how a lot of people think that you need to know a lot about Math to Trade the Forex market. I think you should make a video explaining this myth.
You're Drawing with Snip&Sketch in a Paint photo, this must be NEXT LEVEL!
Fantastic video ,my father was in the UK LSE and he preached the same ethic
Nice to hear hear from India 🇮🇳
''Risk is everything when it comes to trading. It's not about how much money you can make, it's about keeping money in your account and protecting the capital you bring to the table.''
thanks so much for that Nick
Very honest and love the background music too it made me focused while watching.
appreciate your honesty and clarity /conciseness in teaching - subscribed !
AWESOME. Thank you Nick!! I needed to hear this..
Words of wisdom, thank you Nick!
Thanks nick your videos are great keep posting!!
Thanks for the video but you didn't say anything about the lot size
This is very educational but I’m still a little confused on what lot size to use. Say I’m a scalper and my stop loss is 10 pips. I have a $1000 account and I want to risk 1%. What’s the lot size I should use to enter the trade?
To be sincere, Nick, that leverage has really put me in trouble, as a beginner. All my account was blown out in just few days. But now, since I have been watching your videos, I have been so confidence in trading than before because the risk involved in my trade is not too much; It's affordable and bearable for me. If I have $50-dollar account, and I am risking $3 dollars, I think this is not too much for me. Thanks a lot. This is reality video, please.
This is fantastic Nick am so grateful for this video, you just save me from blowing my account. I had always think 10% to 20% risk is good enough for a big account but was dead wrong.
Thank you for such a good information
Thanks for the good explanation 👍
Business man at its finest
you are underrated. Your video is valuable.
I love you Bro... You're one of the best
Your telling the truth! keep up the good teachings Nick! BROVO
the best explanation , love it nick !
Thanks Nick, I am going to apply this approach right away.
You spoke well, it show you know what you doing. I learnt a lot. Thanks for the video
So informative thank you man, i love you for this.
I thought buy using a stop loss it takes you out of the trade based on the amount of pips your lost
Thanks man .. it really helped me
If you have a good stop loss set up will it not stop you from losing big? But if you win it will give you bigger gains on a small account?
Absolutely wonderfully put. Good work nick
Very well explained Nick...God bless you with more profit👍
I like the way you say. I didn't know this now I really understand this and I really happy about this, we must don't risk too much risk lots size because if you have small accounts it will blow all accounts. We must risk small lots size until we grow account. I was ask myself why I lose too much money because I risk too much then I find risk small lots size and grow account the day or week
i keep my max loss under 5% of my account. what i play for lots kind of depends on what kind of SL i am willing to tolerate. Generally i work with a 20 SL usually. Where my loss tolerance gets really tested is when i have multiple positions. This is where i take advantage of leverage. Leverage allows me to have more positions. I have some running for days....months... and i do play short trades of a few hours. so...i love having the leverage allowance to this sort of thing.
It was a rrealy insightful video but you still didn't explain how to calculate lot size based on the stop loss. I think a video like that would be great!
Smart bro...super smart. I love this approach
you just sharpen my brain bro i've never thought about this wow
Nice video nick....thanks a lot for sacrificing your time to give us this great ideas. Keep it up...
Thank you so much traderNick
If we are losing 10% per trade, shouldn't the equity decrease accordingly? This would give us values of -100, -90, -80, -70, and -60. Yes? I am very new to trading so please correct me if I'm wrong.
I’m planning to open a $100 account, what’s the best leverage and lot size?
You are such a nice guy.👍
Good video. Thanks for the help. Been trading for many moons and just given info I needed hear years ago. Working on the 50:1 . Let's see how good I can be!!
Extremely sensible class Nick thank you! This is key to being consistent. I am going to be more patient going forward to grow my account. ❤
Hi Nick, thank you for great advice on how to protect my capital, in your style of trading, how much lot size would you most select to enter a position based on your account size? I‘m currently enter 0,02 lot size for every $350 in my capital.
Xolani Ndlovu If it fits your risk tolerance then go for it. I’d say it’s middle of the line risk tolerance 👍
Thanks! 🙏🏿
Sir nick thank you I learn a lot your a good teacher
You are very welcome
Now I can't stop stressing about risk management lol thanks nick I learn alot from all your videos what you said hit home I'd rather lose 5 times with good risk management instead of 5 times with no risk management in tact appreciate this content
Yeah bro, share some profitable indicator to filter buying or selling entry.
ok i know my risk management, i determine and how many position sizes to take and now how do i know i take leverage according to same risk mgmt approach??
can someone help me with that?
I have 350$ and a beginner in forex what should i use what leverage and lot size please ??
Had I watched this some time back before I started
Thanks alot bro I can see that you are very wise
You a one of the most profitable trade I know you might wonder how I know but I know
Well explained. Thank you so much for this 🙏🏾
Very important information here thanks.
i dont think that make sense. When you lose 10% of 1k thats 100 but after the 1st trade you have 900 left and 10% of that is not 100, with that said after 5 losing trades in a row you will have more than 500
For really small accounts, What brokers are best to trade through?
Good stuff!!
Unreal mate thank you
It is still worth it.... watching this vid is like a goldmine came true.....it is greed which makes a bad trader
How can you calculate your risk per trade the best? If you're risking like 2% per trade what should your Stop loss then be. How do you do this the mbest
You can trade with 0.03 lot which gives you room to risk not too much. With this lot size you can risk up to 7-10/dollars per trade.
Beautiful!!! Am on the right track!!!!!!!!
You didn't told how to calculate lot size relative to SL AND TP which was meant to be as per title...
I have a question.. is lower risk can get your SL easily hit?
Thanks, this was helpful
"Having money in your account is like having gas in your car" 😱That hit the spot!
Nick ,you the man🤙🏽
Honest commentry
Tradingview, Papertrade account. In the long position tool, my quantity displayed on the tool appears in 9-10 digit numbers. Is this a problem? How do I convert this to lot size, do I divide the entire 9-10 digit number by 10,000?
So 1.2% is what I backtested to get best results seem accurate for a 15,000 account? on 1hr chart
Exellent advice for me a begginner!
Personally I hate microlots,lots of time and effort very little profit , but always protect ur portfolio, like you said
Great video bro.
One question please how much time a trader dedicate per day
Thanks so much the video was very good and helpful
Hi Nick - which Trading platform you use for your trading , which Platform your recommend for a beginner should be secured and approved by government authority?
This has really helped me so much...You are very level headed and you definitely use common sense when trading. Thanks for the advice. I will definitely take this approach to my trading and remain patient with the process. Every good thing takes time!
Thanks a lot..Nick... This was so clear and helpful...On $100... what could be a lot size ... give me an idea...
0.01
@@TraderNick please what about the right leverag for $100
really benefited. thanks mate
Super teaching , thanks!
Thank you very much.
seems like you did a lot of explaining the Why.... im more interested in the how. how do you stay on 1% as the different currencies have different pip values... how do you know what lot size to use
Brilliant advice
0.05 and 0.1 maximum only at confirmed entry points should be the lot size I converted 300 to 800 in 2 weeks and then got stuck
Hi nick thanks for your video its informative. My question is my broker trade in gold in sell not buy, but now gold is in bullish pattern. Now im losing lots of my fund. Is that a bad move.... Thanks
did you actually mention lot size at all?