Consistently Profitable Trading... What No One Tells You
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- เผยแพร่เมื่อ 6 ก.ย. 2024
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A lot of traders achieve their goal of becoming a consistently profitable trader and then feel disappointed and frustrated! They soon realise successful trading is something else...
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TRADING PSYCHOLOGY:
In this video, we'll be tackling the issue of having 'consistently profitable trading' as the goal you're trying to achieve and discussing why this is not right. By having better expectations about successful trading, you will be much more likely to achieve your real goals as a trader and enjoy a more dependable trading career.
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I've been consistently profitable for a month, very patient growing my small account. And then today I felt like throwing down 90% of my account on one trade, wanting to make more money - bored of slow growth. Broke all my rules, was frustrated, and let my emotions win me. Long story short, blew my entire account in one day after building it up for a month. Almost contemplated giving up again, but great video for that next milestone.
if your profitable just do propfirm challenges
It's kinda like when you start going to the gym/working out on a regular basis. You'll see noticeable results early on (in the first 3 months or so) because there's a new stimulus your body responds to (also known as "newbie gains"). But as you get stronger and better at performing the exercises, it becomes a little harder to notice any results in terms of muscle size or definition. Brilliant video.
That’s it. Difficult to see progress from one day to the next, but if you compare yourself to a whole year before it blows your mind!
- Nicholas
nicely put
I was more thinking every time I get into a routine at the gym I’ get injured
100% the same with a musical instrument as well.
I don't agree with this video and I don't think it's like that at all. In my opinion your strategy either works or it doesn't. If you were to give me a highly profitable strategy when I just started out, I'd do just as well today as then. And by the way, I am a consistently profitable trader who has traded for years now, so I'm not coming at this from ignorance.
You nailed it 100%. Learning your personality and how the markets work together is only the starting point. Then we need to develop an edge and properly execute it with discipline. That is your money making machine. Keep cranking it, no matter how tired your arm gets or bored you become.
Absolutely right!
- Nicholas
I think it's easier to be consistent if, as a scalper like me, you just want a tiny, miniscule movement of the market. Maybe 4 trades in a day, lasting only a few minutes. You can be consistent at drinking 4 glasses of water per day, but you can't guarantee to be consistent at drinking more than 2 liters of water per day. Or it's easier to cross a small road everyday than Autobahn everyday. Maybe not the best analogies, but you get the point. :)
I agree Luis, I do the same 1-2 scalps per day a few points with a few lots and that's it!
Just knowing that when i reached consistently profitable that al that i now need to do is be patient and keep growing
That’s it!
- Nicholas
You guys are the real MVP. I've learnt so much about developing the mindset and skill set of a long-term and consistently profitable trader for free from your channels and a few other great content providers. So many scammers out here selling lies but y'all been keeping it real and simple. Grateful is an understatement. I'm a better person and a better trader thanks to you all
Thanks so much! Happy to be part of your journey.
- Nicholas
This is exactly the words of wisdom I needed! I am consistently profitable after 2 years of trading but I’m in that 5-10% a month group... I know if I stick with it I can be a great trader! 🤩😎🤑
5-10% a month while keeping DD low can allow you to make a lot of money good job
That's a fantastic achievement already. Keep the focus Elijah!
- Nicholas
Whats your strategy?
Very good content as always. You could add that the frustration of making little money when becoming consistently profitable can cost you big money. With frustration comes lack of discipline and increase in aggressiveness, which leads to making stupid things. I think it's part of the overall experience and painful professional growing.
Yes you’re totally right!
- Nicholas
Couldn't have said it better. Have been consistently profitable for a month, very patient growing my small account. And then today I felt like throwing down 90% of my account on one trade, wanting to make more money bored of slow growth. Broke all my rules, was frustrated, and let my emotions win me. Long story short, blew my entire account in one day after building it up for a month.
word! Spot on - wish more traders talked like you do - a realist.
I am currently in the *newly (4 months)* profitable zone - and you really need to continuously reign yourself in to stop overtrading - to stay disciplined and see the account as a yearly growth account and not monthly. Very exciting place to be, though.
on a daily basis I can make profitable trades, but then a huge move comes, I jump in, screw up and lose my profits. I just want to stop being so drawn into these moves!!!
Dis you fix it this is my situation now😂😂❤it's hard I think it's fomo
Was feeling misserable of making small consistent profits after losing for months, but now I know that's the process. Thanks for clearing my unmotivated mind. Awesome video 😊🤘
All part of the process! Keep it up Prathamesh.
- Nicholas
How are you doing now mate?
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I'm going through the same phase right now
I found the key to profitability is managing risk. Don't move your stops, just take the managed loss. That was my biggest mistake when I first started. That and over leveraging. I'll admit, I made $2000 on a single trade (with a $300 account). I then went on to blow the account up. At the start, it took 3 account blow ups before I took risk seriously and became a consistently profitable trader.
Another tip is if you've found a trade and get stopped out, don't be afraid to try the same trade again.
I just recently traded the crypto crash and my first setup was stopped out, I re entered and made my biggest account growth to date.
Great video! What's essentially being described in that crossing magically into 'consistenthood' is referred to as "the valley of disappointment" from "the plaque of latent potential". Which describes the lag time between what someone thinks should happen and what actually happens, and it derails a lot of people.
I've been watching all the Duomo videos from the very begining of my journey as a trader wich started in 2016 (november),now I am consistently profitable and I've been thru all the stages including frustration that everything just seemed to slow down. What kept me on track was looking back and realising that even if I tought I am making no progress I was actually doing a lot of progress. For me it was that with every New milestone my expectations were increasing much more than the progress,the progress was increasing constantly and steady but my expectations were jumping to the sky. Duomo Initiative is and it will always be my foundation stone when it comes to trading. Everything I become during the process is thanks to YOU! A better person and better trader! Thank you Duomo team and especially Nicholas!
Thanks so much Lucian! It's AWESOME to hear about you succeeding and progressing as a trader. I am humbled to be part of that and appreciate your positive feedback. Onwards and upwards to the next chapters in your success story!
- Nicholas
Sir thanks for your message. This is my 4 years struggle with Forex.
i am Mohammad Asad Ali from Hyderabad- india and Working in Kuwait and always lose on Gold and lost so much due to trusting many scamsters and then useless idiot trading account managers from African countries, Pakistan and some from india and my own mistakes.
Please need your help as i lost so far $500,000+ through various scamsters.
Please help and guide me to grow account, so i can re-pay bank loans and leave to my country india . 🙏🤲😭😰 I am strucked in Kuwait country due to losses and scams and did not go my country India since 4 years and miss my Mom and children .
I've definitely experienced everything you said here! It's my favorite thing about trading. There's ALWAYS something to improve or to work on, even after you begin turning a profit. The fun never ends. But neither does the frustration lol. You've gotta make peace with the yin and yang of the markets and embrace the challenge or else you can quite literally drive yourself mad haha. Great stuff as always Nicholas & team :)
I agree. It reminds me of a quote someone said about chess. It's like trying to paint a masterpiece while someone is tugging on your sleeve.
- Nicholas
just felt like that in november, and then whipsawing and my account declining... now im trying to manage risk better with smaller losses and if possible bigger winners
You have such a calming personality. I really enjoy listening to your advice.
Thanks so much David, I really appreciate that.
- Nicholas
thank you for that video, it very true, its me , i was trading for 4 month, i have lost a lot, i did recovert my lost and a little more, but again i have lost , but i did noticed that , i had no a good time anymore , i was lonely, and didnt enjoy my gain , i didnt buy anythink because i haven t time for shopping,
my life in this 4 trading month was terrible and hard, i have a fobo and depression, i decided to quit that trading a i did but i dont feel confortable and becam sad now, i play in the demo , und i am very good in trading at the demo, no fobo, no scare, and gain every time, no lost but i can not trading with reel money anymore , i am to scared, i dont want to feel that scare and painful emotion and loosing money anymore, it was very painful with loosing real money.
i feel i am 20 years older in just 4 trading month, i feel sad and dont enjoy my life anymore, nothing make me happy and always think an that trading , and look every day at the chart . and all my projects are now far away, i wanted freedom , no job, no boss ...but i am a looser .
Good point about that phrase "Consistently Profitable" -- It evokes a meaning that is quite different from reality. Hello London from the States, keep up the good work!
The way fibonacci levels represent human behaviour I think my trading journey which I have been following since 2016 with your videos and course also are represented in these levels and waves if you were to chart it out. It feels like you have to go 1 step down in order to go 2 steps up like the 2nd leg of a trend needs a retracement. That's why I'm loving all your new videos and they are hitting home with what you are saying.
👏👏
Practice makes permanent
I find it hard to grow a small account, need tremendous amount of patience.
Thank you for the wisdom. I have in my affirmation, to be a consistently profitable trader. I learned from your video that it is just a step ahead and not a final destination.
you got it bro!!!!
Happy to have helped in some way!
- Nicholas
It is a skill. Well put.
Either you win or lose, you can still learn something from it. Being profitable is a bonus.
the most realistic and honest video about trading i saw.. thank you.
You nailed it, exactly what I need to understand. Because they more I know the more I see a lot to take into consideration before trade. To the extent of disciplining my lifestyle 😢
I wish I watched when I first became consistent trading Big Capital.
I remembered 2 years ago when I first started to make profits with my funded accounts, I was making 3%-4% every month and I became frustrated comparing myself with the short term results of even 'less successful traders' that were making huge overleveraged returns.
So, I started to push it just to lose my discipline for the next 4 months.
The Goal it's not the % or the Capital you are bringing every month, Your Goal is to take the higher probability opportunities ONE TRADE AT THE TIME.
This vedio made a clear meaning of what a consistently profitable is for me. Thanks man
Been trading since 3 years. Consistently profitable since a year or so after 2 blowouts... My first month in the green, I was super excited. Second, I was like mehhh.... Then, the routine kicked in. I think one point to add to this video is that on the contrary to the common belief, a serious trader should allow themselves to have red months. But it has to be within boundaries of acceptable drawdowns. I personnally find it more stressful to have hard targets as it might push to take flawed trades. Survive, manage tour risks and profits will come naturally...
Exactly where I'm at right now. Got super buzzed with the first month that I hit 10%. two months after that & I just stopped trading altogether for a couple of weeks - purely because of that exact Mehhh feeling. Was reading a comment above by Rob Laskowski where he mentions discipline & realized that is what is missing - good old boring discipline...kind of have to fall back in love with the process and execute come rain or shine feeling-wise.
@@skullfx950 Glad to see that the meeeehhhh is commom feeling :D Good lcuk to you pal !
What a great reminder that experience is just as valuable if not more than profit
🙏
This is so true, after 4 years I’ve finally become profitable and now I want to size way up and quit my job but sizing up is difficult when one lose can wipe away months of profit
use less leverage
If one loss can wipe away months of profit then your risk management is shit tbh
@@biscuitsaregud I’ve been profitable trading around 300 shares a day and I only place around 10-12 trades per month so if I sized WAY UP like I said to around 6000 shares one loss would wipe away a ton of profit. Has nothing to do with risk management get it?
@@biscuitsaregud 100% agree
@@Von.Juan. don't rush my friend, Incremental is key
You and your hard truths! I have a very love/hate relationship with them! I’ve been consistently profitable for about 5 months and agree I’m pretty damn frustrated a lot of the time because I’m not making as much as I thought I would be. Thanks so much for the reality check and wisdom!
haha sometimes we need them! Trading can be so counter-intuitive at times, but that's part of what makes it so complex. The fact that you're already consistently profitable is amazing - keep the focus!
- Nicholas
@@Duomoinitiative not amazing when you factor in I've been trading for almost 4 years! :-) Mostly lost the first year, essentially break-even to slightly losing since then up until about 5 months ago.
@@gsloppy awesome man can you share any one most hard lesson you learn when you're at 1st year of trading
@@gsloppy how's it going brother?
I had my first consistently profitable three weeks straight, for the first time ever. I'm actually scared going into the fourth week because I may sabotage myself How do I overcome fear of success
We will cover this in an upcoming video, it's something we actually spoke about in our community a few months ago. It may be too late for your current situation (I hope not!), but may be useful when you hit profitable runs again.
~ Nicholas
i am currently at this frustration stage, i know it will trigger some bad psychologic problems like over leverage suddenly or over trading, i am trying to get past it
How are you doing now mate?
Best channel when it comes to Trading, love it! Please don't stop making videos
no it was not like that for me. after a few month of profiting a small amount, I started risking 4% instead of 1% and started Trading more instruments. then I was super profitable. and don't think 15 or 20 or even 10% monthly profit is not much, I thought very little of it too, but that really compounds... like compounding up to crazy scary amounts.
I needed to hear this. Thanks man i just broke the threshold after 3 years of trading & it’s not what I expected haha he’s absolutely right guys. Once you get a nice track record that shows you’re profitable, I recommend getting a ftmo account.
I disagree with the point about getting an FTMO account. Be careful with firms like this., they are not real prop firms. They make money by charging you fees as you sim trade. A real prop firm will back you and allow you to trade firm money with out charging you a monthly fee.
Look closely at their business model and do your own thinking about what is most obvious.
I agree with you. It took me almost a year to get to the break even point. After the first year started making small gains consistently and as you mention its small percentages but ofcourse if my capital size is bigger, that small win could be great but obviously you have to keep going
Great video Nicholas, I've been trading forex for 5yrs now jus blew another account 😑🤦🏿♂️🤦🏿♂️.. I'm becoming extremely disappointed in my efforts, this video jus gave me a different outlook.. I have friends that jus started trading crypto an made 6figures alreadi.. Its EXTREMELY FRUSTRATING but in the long run I'm gonna achieve the results I'm working for thanku 💪🏿💯💯
Proper position size + taking high probability profits = consistent trader
Stop swinging for the fences and go for base hits. Once you practice this everything will click.
I don’t use the duomo method but I love your videos
I completely agree but I think alot of people over complicate it trading is easy
True, sometimes we just have to remind ourselves that we have come a long way from a losing trader to a profitable trader.
What a great bit of info to add to the developing traders arsenal of sage advice, TY!
Perfect timing of the video for me. Please continue providing such content. Thanks
Glad it helped. There’s more coming!
- Nicholas
thanks for the video, i am just passing this phase now and the vid really helped me.
its taken 5 years and 5 rolls. but here we are. any market... any instrument.
This video was posted 1y but today it just touches my heart, I love how you say, about at land of promise if I don’t give up. I feel like you know me.
Your Trading goes from negative expectancy with Positive expectations to positive expectancy but now negative expectations.
One has to turn into a trader rather then ‘learn how to trade’.
thank you, you have actually made my day I thought I was still a bad trade even though I don't lose money
Beautiful Nicolas ❤️!
Btw I really loved this changed logo of your channel 😃
Thanks Parkash! Well noticed with the logo.
- Nicholas
Wow, thank you so much. wow.. i was getting discouraged & frustrated with myself
Thanks bro , i really needed this one , I'm at that level right know to break the barrier and become profitable, but lately I've been depressed and frustrated too
I think in my point of view in forex trading, there will not much consistent months in trading there is always breakeven month in your whole year.
I'm not anymore a losing trader cause I've decided to use demo for the longest time till I met the threshold that I'm wanting to get I don't want to play with real money 😅
I think that's a fresh perspective 🙃 It's almost like looking for a destination that doesn't exist. I have been trading a for about a good year and a half and I would say that I know how to put on a trade and make money..but you're right it's not raining lambos. Now I'm working on the scaling up aspect while keeping my risk in check. I also realize that my $50 profit is what makes sense for my pocket..lol...It's when we step outside of our capital limits to swing differently than how we've been to get to the point of decency..that we can lose an arm in the process. Thanks for the reminder 💪
I am a profitable trader......it took me 9 years though........ You can only be profitable consistently once you do this alright.......
Ok, so how many months from first CPT month to 40k per month, on average? :)
Even being only green by 1 to 2% each month is still doing better than 90% of traders.
That's true Bro! Thx
Great movie after this i be live im consistent on profit and run my Little real account to prove this.
Well said. Thank you very much for sharing
Scalping Several percent a DAY. ✨✅
Much respect!! I've never seen your videos before but I will look at more. It's so rare to see folks sharing the truth rather than the next get rich quick scheme.
Wow - what a useful video, thanks for putting that together. I wish my progress was that smooth a line. When you are in the zone of incremental/marginal changes how do you measure progress? Is the only option to compare the before and after over long time periods? Is there a way to know the process you're following is the right one in a shorter timeframe?
It depends on what it is you're measuring, some things are more obvious than others. However, just like most complex skills, there's not something definitive you can measure and see improvements in every single day. It's more about the average improvements over time.
I always run through the logic of what I'm doing... "If I wanted to improve XYZ, what measure would show me that improvement? What action could I take that would genuinely improve that specific thing that I could work at?". Using a simulator can help speed up the development of certain areas of the skill.
- Nicholas
If your making only 2% a month, u still need a lot more learning, you should be able to each about 15-25% on a trade.
Agreed, if you are aiming for 2% every month you might as well just invest everything in the S&P500. All of that time in front of a screen and the stress isn’t worth 2%.
thank you !
Thank You. Really drove the point home for me
Glad it helped buddy! You’re on the right track for sure.
- Nicholas
This is such a high level video!
You nailed this. Amazing 🔥💎
First time on your channel and bruv I love your content. accent too
Hi Nicholas! Great video as usual! Curious to know what is your opinion on prop firms such as FTMO. Cheers!
Video coming up soon about that!
- Nicholas
What I needed to hear. Top class👏🏾
Thanks buddy!
- Nicholas
Perfect video. Huge psychological shift. Thanks for it ... Loved it
Glad it helped!
- Nicholas
Thanks bro.... i needed to hear this
Glad it helped mate.
- Nicholas
i am SO CLOSE to achieving the "profitable" achievement !!.
Thank You!
Great Video.. Keep Working..
A big thanks to you 🥰
I amvery sorry for your wrong estimation the goal after getting consistancy get funded
Thanks!
I would define consistently profitable as - "Some green days and some red days, but overall P&L averaging above zero"
very good video , thanxxx
Thanks Sharad!
- Nicholas
What if I said Yes Please?
Read me like a book, thanks alot 🙏🙏. This video helped me understand I'm at the point of break even now
Keep sharing such content
Will do!
- Nicholas
I really love your videos dude! :)
Didn't see that coming #VeryInsightful
Thanks Jeff.
- Nicholas
Great video!
Im at the point now where I am making returns each month but still haven’t made a lot of money and I’m fine with that because what’s important is process over outcome, outcome is a result of a good process.
Really taking time to bed in good habits and foundations will pay off x10
I agree completely. Once you reach a new stage with your trading you should consolidate and make sure it's going to stay that way rather than racing ahead to the next thing.
- Nicholas
@@Duomoinitiative Exactly! Sustainability is key
True
Now I don't c money but my lose is small I will never stop pushing when I c it
Good luck Mohamad!
- Nicholas
good video👍
deep video felt good on a car ride
Simple and straightforward message,thank you sir
Well if I can’t have 40 million, can I at least get 1 million? Lol just kidding but not really. Great video by the way👏👏👏
so glad I found this video this is currently what I am going threw at the moment.
Just play the demo i made over $2500 in 3 hours
This talk reminds me of pink Floyd. "no one tells you when to run" there is no starting gun