Overtrading is destroying your profitability.
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- čas přidán 13. 04. 2024
- Trading is risky, and most people lose money.
My Free Telegram Channel is now private, and has over 60,000 members, and can only be exclusively joined at this link: t.me/+TDVdM80j9lGfaWiP
Follow my trades, get coaching, hangout with the MFX group: www.missionfxtrading.com
FTC/CFTC Risk Disclaimer - Please read this so you're 100% aware of the extreme risks associated with any type of trading and investing.
I’ve said for years and years and years - trading is extremely risky, and most people will lose all the money they try to trade with - even the people who follow the information I provide. Trading is a skillset that is difficult to learn, and I make it look easy because I’ve been trading for 7+ years. As with any high performing skillset in life, trading is NOT easy.
Your likelihood of consistently making money trading is abysmally low, whether you learn on your own or whether you follow the things that myself or others teach.
It’s like becoming a doctor, many people start pre-med and medical school, but only a tiny fraction of them succeed and actually become doctors. The average success rate of trading is even worse that that! Becoming a doctor is obviously not for everyone, and becoming a trader is obviously not for everyone, too.
I (and my company, MissionFX, LLC) make NO guarantees/promises/express direct or indirect representation that you’ll achieve any specific result trading, regardless of whether you’re following my free or paid content.
I’m just some random guy on the internet who is sharing what’s worked for me - I have no clue what will work for you because there are a million contributing factors that will determine whether or not you will make money trading.
Do NOT take into account any information that I share anywhere on the internet as the basis for your trading decisions. I’m not responsible for your success, nor am I responsible for your failures.
Read the full risk disclaimer on my website below, so that you’re 100% aware of the risks associated with trading - then you can make an informed decision as to whether or not you want to continue following any of the information I share (or continue to pursue trading in general).
HTTPS://www.missionfxtrading.com/terms
Has anybody else noticed that in the past two years that Nick has gone from a “skinny bald guy yelling at us on the Internet”, to a jacked bald guy, speaking to us very calmly and purposefully on the Internet? Sensei Nick in full force!
That is what money does.
Your channel is different to other Trading channels I've seen. You bring something new rather than just repeating stuff and flexing. Bravo🙏
One of the things I learned from my own over trading episodes was that I need to be prepared to miss some mediocre possible entries that result in profits to get the chance to get in on the really good ones. It took me a while to realize that waiting for the best setups was essentially a filter for bad/mediocre trades and that any filter effective at filtering out losses is going to filter out a few winners too, but usually not the biggest winners and I now miss more losers than winners, the average win is generally bigger, and my overall win rate has gone from 48% to 55%. Trading also seems a lot less busy now.
i'm from brazil, thanks for the free education, you are amazing.
wagyu beef
Trade exposure is a topic that is EXTREMELY under discussed but it all boils back down to patience. If you are taking 10 trades a month. All high prob set ups and they lose. On 1% risk the most you lose is 10% that month. But if you take 20,30,50 trades a month. Your going to be way more down. It’s always better to be selective and miss a set up then be at a -1. Cus just to be in profit again you need to make back that loss. + you’re going to do way more work. You can’t force the market. The market gives what it gives and you get what what you get. You force you will be more down then sitting out. And it’s down to you. To learn the easy way or learn the hard way
totaly agree... i learned the hard way and now crawling off the hole again 😅
Nick please try out the wagyu beef with bacon high cholesterine anti-vegan, high protein candlestick pattern. Thank you
I managed to get consistently profitable on EUR/USD pair, the only thing it takes is experience and small loses which is a tuition fee to the market to learn how to trade. That was it for me.
Thanks Nick. I really needed to hear this.
Nick, that is brilliant and it is what I do now after I saw a video of you and one of your students (who only trades with real money but does well). I then thought what is better than nano trading for experience or when there is significant doubt. I then take the results and multiply by 2,000 to estimate results if I had taken a trade "all in" so to speak. I tell people if I can consistency make $1.40 for example on a nano trade, then I can make millions. I am only 6 months into this but I do for fun, relaxation and to distract me from my commercial real estate holdings. One of your videos convinced me to to try Forex and I am patiently gaining skills while a creep up on taking risk. THANK YOU!
Definitely something I struggle with. Thanks for the insight!
Absolutely right. I f*** my month gains this last two trading days… back to square one. But I’ll be up again with your approach and be wiser next time (‘cos I assume there will be a next, but it will be lighter 🙂)
in 2 trading days you lost your months gains? How is that even possible
@@thewargenerals I didn’get big trades so far this month so my wins were scalpings/daytrades for around 2.1% of my account. Last week, specially on friday, i entered what i thought could be a couple of good trades at reasonable levels in Nasdaq and EurUsd. I set my goals and risk for each one and i lost them both as Nasdaq turn around for third consecutive day and EurUsd didn’t blink when falling through what i considered a support. I didn’t lose all my gains but it was a miserable end of the week. I’m still up 1.13% in DZero and 8.61% in my mini account.
Same boat as you, lost this months profit in 2 days... Oversizing, and overtrading
Same! I blew everything this morning. Just above B.E. right now. I totally let the stupid goblin talk me into taking the dumbest trades this morning.
@@futuresdojo To avoid my dumb decisions entering trades I’m gonna start planning everything before hand so I can see a bigger picture of what a bad trade would lead me to. But mainly gonna relax, stay away from the buy/sell button and ty to remember the good trades I have when I enter ata S&R zone and not somewhere random
Thank you Nick. You are a realist and pragmatic teacher.
Looking at TA as a way to set-up your risk management strategy is genius. Thank you .
life saver as usual, may god bless you
Absolute banger as always!
Thanks Shawn, i have been doing this for a while. If i think its a scary trade, i trade .01 been watching you for years now. took your course, and many others as well. still on demo.
*Excellent! Nick, I really do have a question. For someone with less than £10,000 or above to trade, How would you recommend we enter into trading as a newbie? I am looking at trading with professional trader on short-term or long-term and copying their strategies rather than trading myself to avoid losing money emotionally. I would greatly appreciate any suggestions.*
Thank you for this , very practical and useful
yeh bro,you are awesome,thx for a good advise!
Good idea !!!
Had to learn this the hard way. You're much better off waiting for that A+ setup. The only issue i see tho is you have to use atleast a 1 to 75 risk to reward.
Great video, as always. I see you trading on the daily, 4 hour, and 1 hour. What is the most common time frame that you use? Thanks for all the info man!!
Great advice! I did this during a challenge and while the fake demo account made good trades it tanked every time. Bad side to this dummy account is that your are still upholding bad trading habits.
very useful video, thanks. you're so good that I almost don't believe you exist Nick :)
Another Wagyu Beef-level video! Thank you Nick!
Sommi X Nick is the crossover we need.
Top tier as always 🎉
What trading app do you use?
The only trader who'll ever tell you this truth
I once set up an alert for a target where I would definitely take a trade. Got some FOMO.. and placed around 5 more trades before the target was hit. Barely managed to break even.. and got stressed af. eventually the target got hit and I ended up placing the trade I initially planned, it was a 1:4 and I won it
There’s a very popular trade who does that too. Will take trades on demo when they are low quality
Hi Nick thank you for all your videos I find value in your trading mentality. I was wondering why you always choose to short? The trend is upwards why not go long on the higher low? Do you find it easier to see when something is overbought and loosing momentum?
Hey Nick
You helped me a lot but I still have problems with adding to winning positions. I don't know how to do it properly and how to manage risk after adding a new position.
Your whole trading approach changes when you adopt the Nick Shawn mindset. Man is truly a gift from God
How do you know he is actually profitable? I get it - he shows "proof" but it isn't actually proof. Has he ever shown actual broker statements over a long period of time? Has he ever shown audited statements? Naive to blindly believe someone is a "gift from God"... The other day he posted some video about a 30k win, saying it was the biggest win he's ever had... How do you make millions of dollars over 5 years and 30k is your biggest win, and it JUST happened?
Nick do you think your broker is copy trading you? And would you care to share what broker(s) you use nowadays?
NEVER INTERRUPT THE COMPOUNDING. Trade in a straight path. Ema 200 on the 1 hour chart. Greeting from Holland
Hey Nick, is there a reason why you don’t trade futures, or trade everything but?
What mic you rocking with nick? Or does anyone know?
Its funny, I actually started doing a demo account for me to go what I call 'rogue' about a month ago. That way I can be stupid if I want and I cure the itch without actually risking anything. Once I get enough capital I'll set up a second small account that I can do this for. For some reason I hadn't considered using a small real account to do this.
Hi Nick, Just wondering… you used to hedge your trades but seemed to have stopped that recently. Any chance you can give an update as to why? Cheers, Davy
Curious on how you do your taxes (I'm in Texas too btw)? Do you pay self employment tax? Quarterly estimated taxes? Do you take deductions from your office space?
Nick full beard. He is in his villain arc now 😂
So he's about to release a crypto coin and dump on us? Maybe a bespoke indicator and signals package?
@@patricktoth-meyers5044 hahahaha
I do this too
What broker are you using?
If I can't hedge on 1 account due to broker not allowing it, is it good idea to use sub-account for hedge positions?
do you always trade on a 1 hr timeframe?
Hiii!
💯💯💯
Now what happens to your psychology if you enter with the demo, and it was the biggest move of the year
One good trade is enough for the entire week, don't get greedy people ❤
Why you don't trade gold?
❤
Can u release crypto trading videos?
I’m not profitable trading futures cause I can’t take a loss. Blew an account Friday that was within $70 of being able to take a payout
Hooo!
Law of big numbers
If your system sucks then yes, overtrading is bad
HAHAHHAH, that onlyfans website group that's just fire HAHAHAHAHA
overtrading is just like your overbearding
u used to take so many more trades than the past few weeks so u just recently stop overtrading or wat
Remember
- a trade will setup obviously
- don’t over target or over trade
-just grow the account
-hard to lose if you only win
If the trade fits perfectly according to your strategy, it isn't overtrading
Best One