This is the best advice I wished someone told me about these phases. I've lost $$ by trading real $$ really fast by not building my skills good enough. I've been watching many free live seminars and picked up some techniques. Watching people profiting by using the technique looked simple and easy. I was so wrong when I tried it with my real account. I realized that the technique I learned was scalping technique, my least favorite. I missed the mark and the stock went the other direction fast and deep. Sometimes the stop-loss doesn't work when the volume is big and the market moves too fast. Scalping is a skill that needs the practice to capture the profits.
I think that for beginners understanding the charts (really understanding what is going on ) is the hardest part. If you know what are you waiting for it's so easy to wait. But 99 % do not know what are they looking at. And with so much information online its so easy to get confused. One will say use indicators others stop using support resistance, third will suggest that you should not use stop loss, etc. My 2 cents on this is: Buy simulator and start practicing. Everyday look and study. It's hard, it's really really hard. But once you get it it becomes second nature. And of course, you can make money it all depends on how much you are willing to risk. Cheers!
Wow! we're forever ready to be part of your community because you always bomb us with fantastic videos filled with incredible information. GOOD JOB. I need your help with these questions. 1. What criteria do you use to select forex pairs that have the potential to spike higher? 2. How do you scan for momentum forex pairs and what software do you use for scanning? 3. May I know the broker/platform you use for trading and can I use it here in West Africa Ghana? 4. How do you identify a pullback in the market? 5. Do you believe in news, if yes? what makes it credible and where do you find them as well as how do you fish out authentic news from noise in the market?
Neither is necessarily better than the other. It depends on the system/strategy being used. Algo trading is a lot more difficult to get right and requires different skill-sets to manual trading. Most people should stick with learning to trade manually. - Nicholas
Amazing advice. I'm still in the beginner phase, but I'm treating trading as a skill i'm learning. While still in phase 1, I'm confident that using this approach will get me to success. Cheers!
AMAZING VIDEO FEELING PUMPED TO START MY TRADING CAREER FROM NOW ONWARDS AS BEFORE I WAS JUST DOING EVERYTHING AT RANDON TIMES BUT NOW HAVE FOUND A PERFECT PLAN AND HAVE MY IDEAD MAPPED OUT ON HOW I WILL APPROACH MY TRADING!thanks
i did paper trading with webull for 6 months and did really well, then i did a live trade and it went terrible. turns out that some paper trading apps execute your limit orders instantly and dont take into account that it sometimes takes time to execute an order or may not execute at all. So if you are paper trading and your order for 50,000 shares goes through right away, thats probably a good warning sign.
Thank you so much for this message, in as much as they want us to keep the secrets of wealth in the trading industry to ourselves, I love to see guys like you trying to give out little tips to encourage others. I discovered alot of hidden secrets and truths myself and so far I feel bad for the pawns they use as dumb money
Yeah, I'm phase 1 for sure but I'm being as patient as possible. I think that's important to making the right decisions. Also thinking twice has got me really far with my strategy. At first I thought I had a grip on trading my system with a 62% win ratio, thought twice and now I'm on 69%. So always slightly improving by following these two rules.
What stage are you at with your trading and did you make this mistake when you first started learning? Let us know! 🔹 Get FREE access to the Duomo Trader Development Program: duomotrading.com/FreeDuomoTraining 🔹 Add us on Instagram: instagram.com/duomoinitiative/ 🔹 Our second channel for financial news and analysis: th-cam.com/users/MarketMoversFinancialNewsandAnalysis
Great video. I really empathize with this approach. I started my Phase 1 learning time on January of this year (2019) the theoretical part took about 3 months. Then I started Phase 2 after that; doing demo trading I'm still in Phase 2 after 7 months in demo and I still don't feel comfortable for a live account, because I'm in the breakeven phase trying to improve more (and continue with my backtesting). Let's see if I can go live starting 2020 (with a micro futures account of course) with a bit of more practice to start my Phase 3 learning period.
Assuming you have no experience in financial services, your best bet is to work for a financial institution first and build a reputation there while working on your track record. It's very expensive to set up and run a hedge fund or asset management company, most people wouldn't have the money to do it, but if they did then it's not the type of thing you do without knowing for sure you're going to have investors (in other words, you don't set it up and try to attract the investors afterwards). So you need to work on building a strong network, a consistent track record and a lot of money.
Good advice. I've been self learning off youtube and simulators for about 3 months now. Would say i'm phase 1broaching phase 2. Today a friend asked me how tax works on trading. My understanding is that in the UK(where i live) if its not your main job its capital gains tax exempt. I have a full time PAYE job. He then asked me if i used an American platform would the IRS want tax from any profits? I replied that i know all platforms charge fees and commissions on trading but tax is the trader's responsibility and a tax return must be lodged, like a small business would. So in the event i become a full time trader will i have to pay taxes both to HMRC in the UK and the IRS in the USA? I would like to know from any full time traders how they are taxed? Liked and subscribed and will do the free course you kindly offer with a view to enrolling in any payed for course you offer. While i've learned a lot free via youtube and simulators i'm starting to think i may need more directed education if i'm serious about trading. What ive learned so far has been kind of random. Just looking at videos that seem worthwhile. Doing 2-4 hours study days i'm not working. When ready i feel that starting with the micro emini S&P 500 is a good way to begin, as i don't know enough about stocks etc. But again this is just from what i gather here and there. Thanks
im in phase 2 thinking about getting into phase 3 but I tried to live trade months ago and blew lots of accounts so that kind of haunts me till this day...
That course is no longer online (this video is quite old now). We have this training instead now: trading.duomoinitiative.com/free-training/ - Nicholas
Who DOESN'T think this is a skill?? Anyone not taking this 'trade' seriously, is out of their damn minds, a hobbyist, a degenerate gambler, or all three.
A lot of intellectual pursuits require understanding but not skill. Trading looks like an intellectual pursuit. But it is really not. In fact it may be less complicated than E football.
The worst idea I ever heard. You should be working and using YOUR money to trade, NOT others. But hey, if you don't take heed to my warning then that's your fault.
I feel like you owe it to yourself to atleast double your own money in the stock market. Before you even think about touching someone else's money, this might sound harsh although losing someone else's money hurts on another level, and can be digging yourself a really deep hole.
Stage 2 myself. I finally after one year understand what I'm doing
This is the best advice I wished someone told me about these phases. I've lost $$ by trading real $$ really fast by not building my skills good enough. I've been watching many free live seminars and picked up some techniques. Watching people profiting by using the technique looked simple and easy. I was so wrong when I tried it with my real account. I realized that the technique I learned was scalping technique, my least favorite. I missed the mark and the stock went the other direction fast and deep. Sometimes the stop-loss doesn't work when the volume is big and the market moves too fast. Scalping is a skill that needs the practice to capture the profits.
I think that for beginners understanding the charts (really understanding what is going on ) is the hardest part. If you know what are you waiting for it's so easy to wait. But 99 % do not know what are they looking at. And with so much information online its so easy to get confused. One will say use indicators others stop using support resistance, third will suggest that you should not use stop loss, etc. My 2 cents on this is: Buy simulator and start practicing. Everyday look and study. It's hard, it's really really hard. But once you get it it becomes second nature. And of course, you can make money it all depends on how much you are willing to risk.
Cheers!
Good comment, at the end we are all failing when losses comes in not cuz we don't have something on our charts but cuz we have to much of something
Thanks for this
phase II- DEALING WITH ISSUE OF "overtrading:) thank you for your great advice!
Wow! we're forever ready to be part of your community because you always bomb us with fantastic videos filled with incredible information. GOOD JOB. I need your help with these questions.
1. What criteria do you use to select forex pairs that have the potential to spike higher?
2. How do you scan for momentum forex pairs and what software do you use for scanning?
3. May I know the broker/platform you use for trading and can I use it here in West Africa Ghana?
4. How do you identify a pullback in the market?
5. Do you believe in news, if yes? what makes it credible and where do you find them as well as how do you fish out authentic news from noise in the market?
The best channel about trading ❤️
Great video, thank you!!!
Definitely in phase 1!! But loving it so far and practising my ‘skills’.
Do you use order/breaker blocks?
*Sir which is better ?*
*Manuel Tradeing or Algo Tradeing*
Neither is necessarily better than the other. It depends on the system/strategy being used. Algo trading is a lot more difficult to get right and requires different skill-sets to manual trading. Most people should stick with learning to trade manually.
- Nicholas
@@Duomoinitiative *Ok, thank you sir*
Amazing advice. I'm still in the beginner phase, but I'm treating trading as a skill i'm learning. While still in phase 1, I'm confident that using this approach will get me to success. Cheers!
AMAZING VIDEO FEELING PUMPED TO START MY TRADING CAREER FROM NOW ONWARDS AS BEFORE I WAS JUST DOING EVERYTHING AT RANDON TIMES BUT NOW HAVE FOUND A PERFECT PLAN AND HAVE MY IDEAD MAPPED OUT ON HOW I WILL APPROACH MY TRADING!thanks
1up2x 1 how you doing?
I’m in stage 2, and constantly going back to stage 1 when i discover a certain skill that needs developing.
I have done exactly what you said and know I realize that trading signals know are an opportunity where there is a trade for you to evaluate
Thanks for ur vids, u trade US equities? How do u manage time difference? I live in Sydney, its 17hrs difference with NYC ;/
Well for me trading is a small shop business to me working hard gradually towards to make it retail chain outlet haha!!!
i did paper trading with webull for 6 months and did really well, then i did a live trade and it went terrible. turns out that some paper trading apps execute your limit orders instantly and dont take into account that it sometimes takes time to execute an order or may not execute at all. So if you are paper trading and your order for 50,000 shares goes through right away, thats probably a good warning sign.
Another great content video Nicholas, thank you! P.s. Cool pieces in the background 😉😎
Throwing a like before I even watched the video. Thank you for the content and wisdom.
Thanks Colias! 🙏
- Nicholas
(edit) Truth be told I fell of my trading but after watching this video I'm going to start again. Module 1. Good sir
Thank you so much for this message, in as much as they want us to keep the secrets of wealth in the trading industry to ourselves, I love to see guys like you trying to give out little tips to encourage others. I discovered alot of hidden secrets and truths myself and so far I feel bad for the pawns they use as dumb money
Yeah, I'm phase 1 for sure but I'm being as patient as possible. I think that's important to making the right decisions. Also thinking twice has got me really far with my strategy. At first I thought I had a grip on trading my system with a 62% win ratio, thought twice and now I'm on 69%. So always slightly improving by following these two rules.
What stage are you at with your trading and did you make this mistake when you first started learning? Let us know!
🔹 Get FREE access to the Duomo Trader Development Program: duomotrading.com/FreeDuomoTraining
🔹 Add us on Instagram: instagram.com/duomoinitiative/
🔹 Our second channel for financial news and analysis: th-cam.com/users/MarketMoversFinancialNewsandAnalysis
Hi , good vid, as a new trader I'm on phase 3 and need strongly to go back to phase 1.
Just as im trying to be serious about this vid then nicholas adds that meme at 1:55 😂😂😂😂😂😂😂
Great vid big ups👏👏👏✊
Phase 1... For as long as it takes!
you described my whole last year :O
Great video. I really empathize with this approach. I started my Phase 1 learning time on January of this year (2019) the theoretical part took about 3 months. Then I started Phase 2 after that; doing demo trading I'm still in Phase 2 after 7 months in demo and I still don't feel comfortable for a live account, because I'm in the breakeven phase trying to improve more (and continue with my backtesting). Let's see if I can go live starting 2020 (with a micro futures account of course) with a bit of more practice to start my Phase 3 learning period.
Hello. I want to start a hedge fund or asset management company. Do you have any suggestion?
Assuming you have no experience in financial services, your best bet is to work for a financial institution first and build a reputation there while working on your track record. It's very expensive to set up and run a hedge fund or asset management company, most people wouldn't have the money to do it, but if they did then it's not the type of thing you do without knowing for sure you're going to have investors (in other words, you don't set it up and try to attract the investors afterwards). So you need to work on building a strong network, a consistent track record and a lot of money.
2 to 3
Part of the journey of trading is stop losing money and start breaking even. Then the money starts coming in
Phare 1 is Pre-season
Phare 2 is Championship/ Division 1
Phare 3 is La liga, English Prem
Phare 4 Prop Firm is Champions league
Good advice. I've been self learning off youtube and simulators for about 3 months now. Would say i'm phase 1broaching phase 2. Today a friend asked me how tax works on trading. My understanding is that in the UK(where i live) if its not your main job its capital gains tax exempt. I have a full time PAYE job. He then asked me if i used an American platform would the IRS want tax from any profits? I replied that i know all platforms charge fees and commissions on trading but tax is the trader's responsibility and a tax return must be lodged, like a small business would. So in the event i become a full time trader will i have to pay taxes both to HMRC in the UK and the IRS in the USA? I would like to know from any full time traders how they are taxed? Liked and subscribed and will do the free course you kindly offer with a view to enrolling in any payed for course you offer. While i've learned a lot free via youtube and simulators i'm starting to think i may need more directed education if i'm serious about trading. What ive learned so far has been kind of random. Just looking at videos that seem worthwhile. Doing 2-4 hours study days i'm not working. When ready i feel that starting with the micro emini S&P 500 is a good way to begin, as i don't know enough about stocks etc. But again this is just from what i gather here and there. Thanks
phase 1
How many years count as new trader??
Awesome!
Come on you gunners🥂❤️
😂😂😂emery out
Lol! That Arsenal part though
Phase 3 (not fully though)
1:53 magic 😂😂😂😂
Never expected my Brisbane Roar to be in a Duomo vid. Bit of a backhand that it was that video, though! haha
im in phase 2 thinking about getting into phase 3 but I tried to live trade months ago and blew lots of accounts so that kind of haunts me till this day...
Trust me, you will blow it again.
You had me hooked up till you mentioned my team!!!!
A fellow gooner?
@@Duomoinitiative yeah!!! Since 1995
The free coures are blocked for me "Sorry, we couldn't find that page"
That course is no longer online (this video is quite old now). We have this training instead now: trading.duomoinitiative.com/free-training/
- Nicholas
Phase 2, because when trade demo i do well but when it comes to the real account it's a different story. At time i think trading is not for me.
Vincent Molai you need to stick to your strategy is all. Dont let your emotions get the best of you.
Is this forex trading?
Phase 1 😣
you tried, i liked... fun!
Who DOESN'T think this is a skill?? Anyone not taking this 'trade' seriously, is out of their damn minds, a hobbyist, a degenerate gambler, or all three.
A lot of intellectual pursuits require understanding but not skill. Trading looks like an intellectual pursuit. But it is really not. In fact it may be less complicated than E football.
@@jcrockett870 Trading is psychologically very complicated...
@@daveythehand4964 that is why it is more like a sport. Also, you have to "do" the right thing at the right time, just like football.
@@jcrockett870 Couldn't agree more.
The 800th like:)
🙌 did it bring you luck?
lol! are you a gooner bro?! now i like you even more
I am!
You look stoned AF haha. Amazing video!!
I have been trading demo for 3 years. Now I'm waiting for my maintenance loan to come through to invest. Nicholas, what you think of this idea?
The worst idea I ever heard. You should be working and using YOUR money to trade, NOT others. But hey, if you don't take heed to my warning then that's your fault.
I feel like you owe it to yourself to atleast double your own money in the stock market. Before you even think about touching someone else's money, this might sound harsh although losing someone else's money hurts on another level, and can be digging yourself a really deep hole.
Your statement says it all "3 years in demo" if you're still in demo after 3 years you're not ready.
Do it, invest all the loan you can get. You will lose them all
8 months later arsenal is doing the same.
You got the same accent like Simon Cowell
❤❤❤
❤️
I'm just waiting for the part where he tries to shill a level 2 course or something for > 1k...
Liverpool wins