The 10-Minute Talk That EVERY Trader Needs to Hear
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- čas přidán 6. 09. 2018
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I love it
Hola
Whats his name
1. Bet on winning set ups.
2. Don't play on Boredom Trades.
3.Never add to losing trade (it's going against you for a reason)
4.Take profits on winning trades.
(Partial atleast)
5.Always trade with free and clear mind.
6.Dont revenge trade (when you feel obligated to make money)
7. Cut losses
8. Walk when presenting.
Thank you!
@@snasndasdnjkas keeps the brain moving.. I do it all the time on the phone specifically when negotiating 💡
9. add on to winners
10. profit factor rules everything in profitability. not win percentages
My own golden rule of the investing game.... Don't trust anyone in the investing game.. DYOR.
Basically, every trader who watched this kind of video knows these things. It's not about hearing or reading them. It's about letting them be ingrained into your mindset by repetition.
You can't say to someone you are drunk as he doesn't think so , he has to experience the hangover to realise the action done.
Sometimes only sometimes I think we are gamblers with different name called Traders😅
@@youcefassou1592 Cool. But how's that related to my comment? 🤔😅
@@zolbayar what he means is sometimes other than repetition, experiencing the pain / the consequences first hand, will ingrain those lessons in your mind also because of the trauma that you won't forget haha
Yes this mans a trader. He won’t stop moving
hahahha
lol
He moves around like a volatile market on a Monday
I wonder what his EMA on that stage is.....lol
😂😂😂😂
His walking path is like a stock that is trading in ranges, you think its easy to predict but it's not. I tried to put bets on where he'd stop and reverse. I failed big time.
Should have opened an iron condor, as long as he ends up somewhere on the stage you win
Haha
Hahahhhhhhh
But once he crosses the mic...it's a buy signal
He bounces off the SMA and after he reaches the top he bounces back down off the top VWAP
Simple to learn; a lifetime to master
Study your loss much more than technical analysis. Then ,Apply mathematical rule to money management for tackling loss. Key to success.
Can you elaborate more bro...
Trust me traders, if one loss is enough to blow up weeks or months of your wins then your risk management is shittier than Bixby
any idea to maintain risk management
Have a strict stop loss and once hit close the system , assess how much you can risk/ trade. Afford to risk only the capital which you can afford to lose. Plan only 1 percent risk per trade of your capital, set your position sizing based on this
I feel sorry for the cameraman😥🤣
LOL LOL
As a camera operator I can say that yes, going back and forth isn't as easy as babysitting a locked shot. If I'm directing this kind of thing and the presenter won't stay still I would just tell the CamOp to frame head-to-toe because moving back and forth is distracting, when really, it's what they're saying that's important, less the picture. You think this is crazy but imagine shooting sports!
lol
Not as bad as ice skating, but yes it's annoying as a camera person, (as I have done, along with follow spot.) And offen the speaker thinks it's motivational to move so much but their nervous pacing is really just distracting!
This is what they get paid to do. I feel no sorrows lol being annoyed is part of the job.
Awesome advice....I've learned this information the hard way losing a 5k account. Taken me 6 months later to start again using my own set ups and not watching guru's and chat rooms. Past 4 months I'm averaging 58.6% win rate. Learning curve has improved and continues...
Scotty S what is your strategy? Cause my dipbuys always trigger my stoploss before i make a huge win
@@Energizer720 buying the dip is a bad strategy and only works in major bull trends
@@Energizer720 what you expect to make 20% each time, trade for 2% each day with a 1% stopped, please don't but the bottom, buy someone thing that is going up
Steven ZJ this will solve your issue.... When your stop loss is triggered close A PORTION of your position...
Example: Your long 100 shares...it hits your stop loss close 75-80 shares and leave the rest
From here you will need to track how many trades ACTUALLY go for you when you believe the thoughts you just mentioned..
Maybe you find out that only 30% of your trades actually go into profit and 70% of your trades continues losing money and stopping it out was the best decision
It's important to have proof ..not just feelings or it seems like... I went down that road ...then I started to track all THESE ideas and found many that I thought ...were actually false
@@Alexander-vu6fw Awesome,That is seriously a very good advice that I am going to implement.
If I can offer my 2 cents, Never trade when you high or have a hangover NEVER.. Awesome video
@R F eish can't wait for that day where I can trade for a living ... But weed makes me see things that are not there so I just learned to smoke on weekends😂😂😂🤦🏾♀️
R F 95% be like
Exactly why casinos do offer free drinks, because you tend to be sloppy when high hence likely to gamble more and more
R F hey, what setups do you trade? im in high school rn, looking to start day trading stocks for a living, would greatly appreciate any help :)
Black Teddy don’t trade on TOS. That platform lost me a lot of dough
Ya know, I've been trading for 5 months and have read books, watched countless videos, enrolled in training and they all teach the exact same thing. Everything he said is 100% correct. It seems so easy when you hear it. Follow rules. Never deviate, etc... Why can't I just follow the rules!? I am getting better. I am learning to judge my trading day not on profits but on how closely I followed my rules, no matter the outcome.
What u said is correct..
Gotta learn to not think like the usual retail trader or that’s how you get got every time. Need to be able to identify manipulation, order blocks, liquidity grabs, etc. I personally only trade metals, I know gold and silver chart like the back of my hand. Master a certain pair and it will be much easier. All you need is 100 pips a day.
How are you getting on with it now ?
how has it been bro
@@teezy1071 He flipped the off switch after losing everything.
Literally the best trading information summarized in 10 minutes.
Very useful and very precise. Love this channel
i've started listening to this daily to remind me to stop trading like an idiot lol , my trades have been more successful since i saw this video thanks a lot
i havent found it easy trading on my own i think still need to increase my trading patience and disciple i can only hope for changes
how does a rookie like me figure all this out i saw this video as an add and decided to take a look i am glad i did pretty intrigued but have no knowledge about this
Love how quick he was to say “You’re wrongly shortly after 8:37
No reason to overthink a losing trade. Sometimes unpredictable things happen, but heavy majority of the time - it’s because you were wrong.
Really liked this speaker’s pacing too. Lot of good info & reminders in a short 10 minutes!
Thanks. Sounded like he was talking about me. Rules are a must.
Easier said than done
You pretty summed up everything about trading in 10 mins. Good to remind oneself of how to keep emotions out, stick to rules and stay profitable.
This is one of the most succinct and useful trading videos I've seen yet.
To sumarize:
1. Only trade your max confident set-ups and be prepared to wait days/weeks for them (ie cut out the boredom trades). Because you're trading less, you can increase the size.
2. Cut losses fast
3. Scale out of your profitable trades in increments (I like to do this using chart levels and % gains)
4. Never revenge trade or trade if you are emotionally off kilter that day or seriously lacking sleep
Awesome talk! I absolutely love the reality, simplicity and delivery of these truths! Thank you for sharing... Px
Solid advice. Without rules we're just tossed with the waves of the charts, like a ship without an anchor or any sails.
Ive watch so many trading psychology videos and this guy has such clear words of wisdom in the shortest time
It's amazing how most of the info I am finding, I already know or had the mind set for.
Mark Douglas goes into this/these issues in depth on Trading in the zone. Good advice overall
Lol what a coincidence..the book is on my hand at this very moment as im reading this comment..nice.. :)
Agreed! Accountability....is definitely an important aspect for many traders to improve!
i just needed to see this right now. Thanks.
"Mental stops" is a very slippery slope
Not necessarily - stop limit orders aren't always filled. Also - scalp trades can happen so quickly that you don't have time to create a stop order.
Part of trader development is learning to robustly set and follow risk management. Mental stops depend on a traders' discipline.
@@YovanNoel That's what bracket orders are for. Stop orders are filled immediately at the best price upon being hit, so while there is slippage risk it's still the most solid protection you can have. Scalping with mental stops seems dangerous to me no matter how disciplined you are price moves really fast, like you said.
@@gidalyahbrons5780 Agreed. :)
agree,,,,worst advice!
It's good to have a mental stop as well as a Stop Market Order
Simple logic about trading
All trades have good days and bad days but the real trader will lose small percentage on bad day and he gain multiple times more percentage in good day
he lost me at "a small loss is $5000"...
@@VOILAA no he said it because $5000 to a real profitable trader is a small loss
@@VOILAA for example during covid crash I lost a small position of $2000
@@VOILAA Phil is a beast, some of his day trades north of $100k profit. He doesn't need attention.
Bibonow he’s not selling anything but stock
Experienced traders who sincerely care about teaching, as opposed to boasting and showing off, will emphasize the percentage win and loss and not the dollar amount. Everyone has different account balances and risk tolerances. A $5,000 loss might be career ending for a small trader, and is pocket change for someone else. However, if they are training their followers to look at %, they will be more focused on the process, and not the money.
Only one word for this video AWESOME!! These rules have been in my head but now are going on my screens beside by buttons
As a person making a living entirely on sports trading i appreciate this...I been doing a challenge on my channel for some time and focusing on the basic principles i have realised that the most important factor is how we behave just after 1 loss
This speaker was very well prepared. Outstanding talk!
Setting rules is vital I completely agree. In trading, you need to master your mind to conform to them; which is the difficult part for most
Great job, great info, well executed.
Keep in mind, he is talking about big movers and big accounts. Start small and practice w paper accounts.
Down 100k? Wait what? 😓😳 shit I’m cutting my losses at 100 😅 then again way smaller cap. Love the emphasis on stop loss 🙏 thank God I’m constantly watching videos like these 💪🏼 strict discipline. NO BAGHOLDING.
Simple yet powerful!
Im going to listen to this every morning
Great video but easier said than done. My first big loss was just over 10K, I said, that will never happen again. I had a 17K loss, I said that will never happen again. I had a over 20K loss, I said, that will never happen again. I had a over 50K loss, then I said, never again. The +50K loss was over 5 years ago, that was the one that made me stick to rules, I hope.
How much did you start with
@@shutupidiot16yearsago79 30K
I lost 3k and I’m about to lose my mind
I have planned to choose stock trading as my full time job. your advice and tips are experience based and I will keep that in my mind. Thank you. Gratitude!
WONDERFUL !! thank you nate !!
@6:00 Priceless advice 🙏 You can always revisit, just stay in the money…
I really needed to hear this after today. For the past 2 weeks, I’ve given myself new rules that strictly cut losses and I only entered a few, but good positions w big money behind them and saw way more success than my previous strategy. Of course I’m really stubborn when cutting loss and I know I can get emotional and lost a weeks worth of trading w 5 bad trades today and yesterday bc I refused to cut loss and put a stop loss on my positions bc I refused to believe I was going to be wrong after a successful streak. Following your rules is so hard to get right, it’s tough to develop discipline and maintain it. But I definitely see the upsides in it. We’re trading to become a better trader, not to just make money. Money just comes along with it. This talk was awesome, hit everything I needed and was looking to hear.
I did a similar thing, had one day that wiped out a week of trading. Sad thing is, I recovered 90% of my losses on that same day, but then went in to try to get green again. Shouldn't have done that...
How is the progress now?
@@samithasooriya8733 Lmaoo I completely forgot about this. I made six figures that summer but lost 90% of it that following September. Kept the rest in ETFs and long holds and quit day trading. Now I’m getting my professional degree in the medical field.
@@yueyangshang7210 oh damn ahah
@@JFGag i ended up going to nursing school if u were wondering how this day trader turned out LOL. Just gonna passively invest my money instead when I start my career
Excellent presentation !! worth watching daily before starting the Trading day !!
if one trades takes out weeks or months of profit your risk management is very very wrong.
it depends on the type of trader.
Exactly.
wrong
Long term traders are investors, not an intraday trader
Its beyond risk management... it's about discipline, atitude...
Very good presentation. Has he been looking over my shoulder recently ???
Excellent information and well stated. My only issue is how many of us traders can trade that size? He has much better staying power than most of us. I would like to hear a talk about smaller traders (under 2,000 shares) and how to manage risk.
So important to cut loses quickly. R/R has to be determined
Thanks for getting to the points of successful trading!
Bro The thing you told @ 10 mins "if you have a lack of sleep" exactly true for me. Overall till now I made around 190k but had lost around 100k during the days I feel tired and forced myself to that screen 🤧🤧..
GOOD SLEEP IS MUST
You are right. My big losses were only because of me being stubborn, not any sudden market about-turn or any of that shit. Got to trade with a clear mind for sure.
I am extremely impatient with my losses. Just a little dip in the red and I'm out. When a stock is winning, I book partials on weakness and full-blown sell on what I think may be a reversal. It helps me big time because my patient winners outweigh my extremely tight losses in the end :D
great talk, the key to be good trader is to manage loses
Wow. 3 minutes in, and the most important message here is that you learn from your losses. You don't learn from your wins. There's a saying on Wall Street. "Don't confuse brains with a bull market". And it was Friedrich Nietzsche who said he never learned anything from those who showed him good will. He learned from those who showed him ill-will. It carves away dead wood the SAME way that losses serve to make a more ideal trading strategy. For beginning traders, THAT is why it's important to stick to a plan. If you stick to it and it doesn't pan out, then you can adjust it. If you DON'T stick to your plan and it fails, you have pretty much nothing to point to for the loss and it remains lost in vain.
+1 3 1 6 3 3 3 7 5 8 9
you know you are on the right track when you can get out of a bad trade and still make a little money
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Lol that's me
looking forward to seeing more of these!
Wow. Amazing principles. Thank you so much.
Hi. Thanks for the talk. It's good to get some bottom line
info on investment tracing!
I'm listening - to learn and learning to listen!
~~~Nancy
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding of how the market works
Having a stable investment package keeps you financially stable!
Fantastic explanation!!!
Good advice all round with the exception of using mental stops. Never use mental stops in trading.
Excellent video very informative and concise. Thanks a lot.
Im new to trading and I’m so surprised how much great information is out there. Thank you for the insight 👍
Are you still trading?
This dude is the real deal. Great vid
That was so helpful! It will be more helpful if we can get an update about the problems of the Stock Market. And James Asquith discusses the problems in his recent video.
Good, sound and straight to the point lessons
he explain trading very well in 10 minutes...
Trading can turn on a dime, superior fundamentals and technical action, and buying at the right time, are all part of the process to succeeding in the stock market
I’m currently into long term trades, day trading isn’t really my thing anymore. I’m trying to stick to what produces more returns for me.
Extremely important!
Awesome content. Thanks a lot for sharing with us.
I think I’ll play this in the background when the market opens each morning.
Good summary of lessons and mistakes we normally commit.
Well great video thanks for your time and information👍
Great advice!
Great video. Simple things that traders at all levels need to always keep in mind
Very awesome. That felt like a ted talk. Great watch !
True dat!
Excellent
Good talk.
Wise words.
Thank you!
Needed this, thank you . Everything you said was spot on. 100% very true and very straight. I have tendency to not stick to these very simple rules. Thank you again 🎯👌
how is it going bro
This video could take a trader's trading from 40% profitable to 99.9% profitable.
Brilliant. Mandatory. Brilliant. And Also Mandatory. Thank you.
good stuff mate
Great advise!
incredible content!
I watch it every now n then, every time I learn new stuff from him!! Thank u
Been looking for something like this for a while. I want to know exactly what the veterans know and it was pretty succinctly summed up in this video
Not knowing how to cut losses is my main problem but I’m learning from my losses and I’ve realized my wrongs
I was just needing a talk like this! Last day I lost my capital trading and I was needing motivation and a good speech to continue trading! I know this is the road, some days it´s gonna be hard, other days we´ll feel as we are gods, but the purpose is to keep going even we are tired or without motivation! Let´s goooo
consistency-discipline -
patience is key or ye sab mere andar develop ho rha hai , kyuki mai apne mindset pr work kr rha hun trading se pehle se .
but the purpose is to keep going even we are tired or without motivation :) .... yes yes yes yehi bo 95% log nhi krpate hai or fail hote hai. (thats good point )
only a 5000 dollar loss ! Guess I'm not there yet
Yeah, no kidding! I loose 5 hundy and I'm bummed out!!
Right Big Money💰💰💰
With a 350 dollar account a 5000 dollar loss is like not so good :-)
Haha that’s like my entire account
Great video
Damn, wish I watched this a few weeks ago. Would've saved myself a lot of heartache haha. But very very valid. Total truth as a new trader
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I needed to hear this...Great speech!!!
Thanks formsharing this
This was actually a good seminar
Excellent video.
Something good and basic...but thanks for sharing....god bless
Keep up the good work
And the truth will set you free..excellent. 😎
Those of us who have traded for more than 5 years are nodding at our screens when he says NEVER add to a losing trade. By all means fade into your maximum stake but NEVER EVER exceed it.
After around 5 years every trader knows what to do, doing what you know though, well, that’s the holy grail for us traders.