how i make money trading, even when i’m wrong
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- čas přidán 15. 03. 2024
- Trading is risky, and most people lose money.
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).
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My free telegram channel: t.me/mfxpublic
only a thousand bucks a month guys!
reply to this message if you want help with your cough.
This is called breakout hunting. It works, but it is still an edge, and if you truly traded randomly, it would not work at all.
As a trader who's been trading off and on since 2009, this is NOT a bad strategy at all. The theme on repeat in this video is "RISK MANAGEMENT". If you master that, you can trade ANY strategy and be profitable. I know a few traders that have been doing coin flip entries (seriously) since before I started, and ONCE THEY'RE IN, they set a profit and loss target. SOME do this type of "double down" when market moves against you. So this video is talking about how to do this with an account that is 100% funded with risk capital, which is a fantastic concept. BUT THIS CAN ALSO APPLY to an account where your entire trade capital is in the account. The only difference is, instead of risking 1-3% PER TRADE, instead, since your account is the capital and the risk, you'd simply reduce your initial trade risk so that if you're in a position where market moves against you and you had to do, say, 8 entries in a row like in this video, at that point you're at your MAX RISK, which for most people is 1-2%. So for example, if you have MT4, and you trade on OANDA or IG, and you enter a trade, you can enter with a lot size of 0.01. So one entry of that size on the euro/usd ends up being somewhere around a penny per tick. So if the spread is, for example, 1 on a retail acount, then as soon as you hit the button you're negative -0.10 cents. A DIME. Ok? So if price moves against you 20 ticks, you're out 0.30 cents. If that's your next entry, now you're out 0.40 cents. Now.... if market moves against you a total of 100 TICKS before reversing, and you entered just say equal distance of 20 ticks, you'd have your initial entry, plus 5 other entries at 0.01 lot size. So your total "loss" after a negative move of 100 ticks would be about 1.10$ for the initial trade, 0.90$ for the second, 0.70$ for the third, 0.50$ for the fourth, 0.30$ for the fifth, and 0.10$ for the sixths trade due to spread. Ok, so what's the grand total for that "losing" trade? With a 500$ small account, you'd be at 0.8% risk percentage for all 6 trades combined, totalling about 3.60$. (ish) That's not counting continuing moves against you, which would be approximately 0.06$ per tick, assuming each tick was a penny. So if you have all your risk captial in the account, it would certainly have a "magic point" to put a stop loss somewhere reasonable to protect your account from absurdly fast moves against you... but even if you do button stop trading, you can usually close out before your account hits any significant loss, and with a TOTAL possible trade entry cost of 0.8% of your account. Keep in mind, it could move an additional 100 ticks against you and you'd still only be an additional 6 or so dollars loss, with a total combined loss of 9.60$ which is just shy of 2% of your capital. So yeah. Coin flip with this type of risk management is absolutely a "doable" thing, and if you manage your trade positions with the mindset that you might have to occasionally make 6 trades before it reverses (or hits your stop if this is your only trade capitol), then you can repeat this procedure and it CAN BE PROFITABLE. Its one of those things I learned early on, the MOST important thing about trading is what level of risk you're at any given time. Once you master that, (and there's many ways to manage risk that are valid) then you're good to go. My mentor, when I asked them about how they pick such great entries, they looked at me and said "Entry? What about the entry? FUCK the entry. If you're in a burning building, was how you got in important? ITS ALL ABOUT THAT EXIT PLAN."
knowing when you're trading in a sideways market is still an edge
Never have I thought I would hear the words “unfortunately that was a winning trade” 😂
That’s probably because you‘ve NEVER heard such BS before! Remember: the constant coughing is a sign for lying..
To be real, that random generator trades better than 99% of traders😂😂
@alien-911 I was thinking the same thing lol
@@richiewillie2us hahahaha. damn son....im still watching the video
True, that. There's nothing like random entries to demonstrate that exits and risk management are way more important than entries and fancy chart analysis. This is why I love Nick's stuff. He dwells almost entirely on those two things.
Fr😂
@@rdtradecraft tbh i backtest and its running super profitable as long as use small risk each entries and make sure to keep track. I blew up once during backtest and realise myself holding 11 entries without breakeven
“So unfortunately it was another winning trade”. 🤣😂
you caught dat too haha
Lol 😅
I was about to quote this same thing, LOL.
😆
rofl
the constant coughing gets me
lol gotta be a tick or something
Of little concern for what we’re getting.
i have the same problem, believe its an OCD thing but thats not based on diagnosis so take it with a grain of salt.
Actually its very weird, he coughs only on the charts, but when he is speaking directly to us he didn’t cough. Which leads me to a conspiracy thoughts) and also I don’t see that he coughs on the video. Its more like he added this on the background but if so with what purpose? Maybe his microphone is too sensitive…
Very weird stuff, feels like i got fooled in some way.
me too, and he dont explain why is coffin
"Unfortunately, it's another winning trade"! Absolutely phenomenal.
So far your best vid ! Wow, tkx Nick , simple simple simple.
I agree. I’ve been so frustrated lately and Nick shows up in my feed. The universe is blessing me 😊
I absolutely agree with you! This is the best way to trade as a human. Many bots are also programmed to trade this way. I use a similar method but I was missing 2 things in my approach. And now I found it in this video. 1)After many entries I can close at break even instead of waiting for a return to the first entry. 2) I will trade a percentage of my money each time at full margin. Thanks so much for sharing. I hope your health is better now.
why don't people use bots if they make money for you for free?
After watching hundreds of CZcams videos on technical analysis.. and having traded similar to what he says here (left it cos people told me it’s too risky).. I have to admit I made more money this way than any other theory or system. Actually blown more accounts using other methods. Thank you 🙏
Thanks for posting this! Got to teach people that so much info out there is bs and just peoples emotions. I used to think i was crazy when i found out that they only make people think its okay to put SL and TP is because thats what the markets track lol. Thanks again brother and wish you the best!
Hey Nick, I really hope that you n your loved ones are doing good n everything. I love you bro and am very appreciative of everything you've helped me out with, thank you Sr.
The day you released this video I opened up a $50K account with Apex and started trading only 2 micro NQ contracts. I did exactly what you said here. It worked. I then bought 2 more $50K accounts and did the same. Now I have 3 funded accounts producing about $350/day each. I have 2 more eval accounts that I will likely pass this week too. Of course, like you mentioned, a day will come when it doesn't work, but I will be taking $2000 out each week to make sure I lock in personal profits. I just qualified for my first payout of $4000.
Thanks Nick!
Dude, this is wild, thanks for sharing.
such a bad ass no nonsense trader... love your videos. this one was especially interesting! Random entries, risk management. seems so simple yet 95% of traders can't do it.
They can I feel like the only thing that can stop someone from doing this well is good risk management and enough forward testing to learn it properly probably a month or two is enough
Exactly...it's all about patience and faith
I had to watch this 3 times before understanding how easy this is. it makes complete sense.
Did you catch his cough?
Take note that he says the account itself is the stop loss, I tried this approach many times, I ended up flipping most of my deposited funds only to lose everything later down the line.
@@bluecafe509 He should really get Hall's to sponsor his next video. That was so distracting. I shouldn't make fun of him, I think he might actually be dying.
@enditakamweneshe6428 is one of those strategies that has a high win rate but takes just one loss to wipe you out. AKA a horrible way to trade.
@@notdan995bro im ded 😂
Great video Nick! I’ve been trading 30 years like this. However I tend to get too aggressive and take drawdowns that are too big. Controlling risk is absolutely the main key with position sizing. Kudos.
Absolutely this.
Nick, one of the best videos i have seen. Thanks for sharing with us. I trade crypto and most of my trades are the same as you explained here. I too see that this is the only way to go on these markets today. Thanks again .
Also one thing to add, for those who tried to add to winning positions and cut loses early and for whatever reason hasnt found success.. this way of managing positions can be a great alternative.
Video should be called "how to dollar cost average and martingale gamble with your account" haha. Enjoyed it but not sure I'll implement it
Finally someone actually understands it...I thought it was all mental sheep trading demos 😂
DCA yes, martingale no. Martingale would imply increasing your unit size by 2x for every time you think you should add this way as soon as the trade turns positive it is break even without pulling back to other levels.
@@gorv1968true, to be precise. Anyways, this is a very very doomed way to try and trade unless your positions are so small, that it would not make a difference. If you increase size, you risk margin call upon numerous additions. Granted, the idea that all trades come back to entry is lucrative, but this is something hedge funds can afford. A small retail trader trying to grow an account adding to losers is a sure-fire way of getting to 0.
It will all end in tears.
Thanks Nick, your information is encouraging and I appreciate how you have presented it. Very straight forward.
Thanks, Nick! I needed this.
This is cool, more of this @nick you’re like an anchor of no BS in this crazy world of how to trade!
In this video Nick is able to be in drawdown from 8 trades in a row, because he is not risking a large lot size per trade. He knows the market will retrace back or close to the original first trade, and the newer trades act as the profitable trades to dampen the loss from the earlier trades. I have used this strategy and it works - BUT you have to get lot sizing right and also ensure you have some concept of reversals, otherwise the account will get blown!! .Great Video Nick! - thanks
Exactly. This can fck u up real good. I rather have some losses
many times market would retrace but not enough for our position to be profitable or break even...this is more of a gamble and one would lose a lot of money in trending markets ....but in range bound market it might work
apply this to NVDIA stock and you fucked up for the past 1 year
In short, he appears to be using a Martingale strategy, with which I have personal experience through my trading bot. While it's true that this strategy carries inherent risks, it can also be profitable under certain conditions. A well-funded account and proper risk management techniques, such as using smaller position sizes, can mitigate those risks.
For instance, my bot can handle extended drawdowns and exploit retracements. which makes the strategy worth using.
@@figh761 only go long tech on corrections and add on pullbacks 100% win rate
This trading strategy is literally a game changer! I've been fkn around with this strategy and found that if you are NOT greedy and are super diligent with your risk management you can absolutely carve up in your forex trading. Trading Gold is super simple as it loves a good bounce 😅 and also works trading my favourite boring pair AUD/NZD good luck guys and see you Nick in the next video Cheers 🍻
Have you ever tried it on Oil or crypto? Just curious as I am starting to try this strategy out this last week on oil.
@tamasgodinek4125 No I haven't tried oil yet mate. Just been on Gold as it's got really good price structure and AUDNZD I literally trade without a stop loss 😅
Nah. You will eventually blow the account If you cannot control your feeling by adding more positions than usual. Why you have to put yourself in this situation? Everyday you have to look that your account with a big DD. No man, please usE SL as you made a wrong decision and move on. You will correct it by next trade.sAlso. If you sell XXX/JPY and waiting for a month to go back to your BE, you will be broke by the swap fees.
This is called mean reversion trading. It's not new. Use a mean reversion channel and see how far away price typically gets to before returning to the mean line on the instrument you are trading. The ruler tool in tradinview will tell you a percentage. When it gets to that average percentage, you enter and wait for the pullback back to the mean line and close. A very good indicator for this is the "Mean Reversion Channel" by fareidzulkifli.
@@tamasgodinek4125 Probably better to avoid trending markets - especially crypto as the price might moon and you'll not be able to hedge out the move...ever. Crypto/Commodites/Equities/JPY => Trend Following, 'Boring FX' ==> Mean Reversion ... and this is a form of that.
great video nick. appreciate that you gave out the secret
its crazy cause this how i been trading but couldnt explain it u explained it perfect. this probably the best method of trading even for new traders all you need to understand is key levels and you good
Just spent 3 hours backtesting this... (using a random number generator)
I started with 1% risk of the account, adding at even intervals of drawdown. The MOST drawdown I experienced was about 15-20% of the account size. Every trade eventually made it to grow the account at least 1%.
Crazy how a strategy does not matter!
Thank you Nick!
So you're saying you're risking 20% to make 1%?
Now, with each add-on, increase the lot-size by 20-30% to maintain a reasonable breakeven point that moves-up with price. You might also consider removing partials from earlier positions at around 1.5ADR.
@@TheWhippinpost for sure you can
I found that was not necessary
And by doing so, you incur more risk as price moves against you
But it’s all about what you are willing to risk
I would prefer to not blow an account if possible lol
@@Bryceredaja By removing partials from earlier positions when the trade goes against you, and increasing the lot-size of additional trades, you keep the breakeven point within distance. Ideally if you measure the additions and removals using a measurement of ADR, you can maintain a grip on things if price squeezes.
Trick is to keep size within your risk profile.
Hey, what I don’t understand is, how do you size your lots to risk 1% if you don’t know where the stoploss is? We don’t know how far into DD the position is gonna go right so how do you know you’re risking 1% of the account on a position?
thanks
You probably won't admit to it, but you are a genius! That does not mean we are going use that as an excuse to trade poorly - just want to say thank you for sharing your insights and teaching us to be profitable!
👍Thanks. Agreed. I journalled my last 30 losing-trades (on demo) : 29 of them retraced to my entry within 4 days , max, proving I closed too early 👍
I close too early too, before it reaches my TP
Interesting how much account fund u did it with
which ticker you're trading on?
You are simply the best ! Glad I found you !
this actually makes sense as a person who has been trader for 5 years thank you Nick
no its not. You could do the same with a roulette, just bet on red /black and add money if youre wrong, is has nothign to do with trading
@@kamilnakonieczny9242so you mean this strategy is just nothing? M really interested in it ? What are your opinions
I tried roulette. You can bet on red or black but what if it falls on 0? You lose everything
@@HotBlitzthe 0 is just the edge That the Casino has over you on a Long run
The Only guy who has some idea of the markets ❤
First I wish You've recovered cause I felt you were a bit ill, I prayed for Bro. Second Thanks a lot again for making your knowledge available to us.
Like a manual grid strategy, love it.
Going to demo this
Low stress strategy , just need patience and proper sizing
how did your demo go?
how did the demo go bro respond don't blueball us
+1
@@kingjackoff6708 I’m up 7% for March
@@mykolaskumpis2041 up about 7% for March as of first week into April
At 7:50, first you say that that the first position gets closed at a loss then you say that the whole sequence ends up break even, but it doesn't. Your first statement was correct--the sequence ends in a loss.
Grid trading this way has been around for decades. Glad it's working for you.
No its break even 50% is loss snd 50% is win so its break even
Exactly. At 9:11 he says the trade would usually retrace and end up in profit. That's total BS
Thank you, straight to the point, good info
Hope you’re ok bro. Been MIA since this video!
It means he probably made a ton of money and left or he lost everything and quit.
I’m very happy to have come across your video! I did something very similar a year ago, and turned 7K into 30K in just 6 weeks! However, as you can probably guess, I blew the whole thing!
Couldn’t really quite figure out how to do it again, since I just lost account after account ever since. However, after watching this, I think it’s all got to do with POSITION SIZE. Just as you mentioned several times; size accordingly and manage risk!
Thank you for this video! I’m going to backtest this and let you know in a few weeks! I typically focus on overextended moves then go for the reversal. (Especially overextended down moves in FX then go long)
Any news?
@@Superpowerjoker still backtesting, but great results so far. Trying to blow a 2K demo account, but it’s currently sitting on $8300
@@KrissHermus Does your backtesting factor in trading fee?
The day you go aggressive you blow the account
@@Michael-im5mq yes
That was an absolutely fantastic example Thank You. Personally, as a new trader, I have tried to use this method and suffered my biggest losses resulting in loss and fear. I have now reduced my account balance to start again. Just today I was stopped out of a trade that went on to make new highs as I expected. I should have been in the money. I still lost earlier in the day. After reviewing how the markets work and watching this video, I'm ready to go and try again. I'm not a fan of stop losses. My position size just needs to be a bit more practical considering I could be wrong 7, 8, 9, 10 + times. More importantly are the timescales involved in these types of trades. It takes Days, Weeks, Months and NOT Seconds or Hours. Thank you. Wish me luck 🙂
Thank you Nick. Excellent strategy.
LOved it, it makes a lot of sense. Thank you
How do you counter if it keeps pushing down? Only so many times you can enter again with leverage. I back tested and a couple times it’d go for months
thats when you are truly fucked. thats why you only do it with like 50 dollars a time if you just starting out. because you will eventually lose no matter what.
Hey Nick some notes you can add are 1. trade pairs that willl revert more often such as AUDCAD and AUDNZD and avoid trending Pairs such as USD JPY. 2.Avoid strong news events as much as possible such as NFP , or FOMC . Hope my tips help.
Depends on your timeframe. If you only on Daily then it doesn’t matter if nfps news happens
You don't like trading the ninja? I'll hedge USD/JPY against GBP/USD with a correlation strategy.
There are news all the time, it's almost impossible to avoid them. If you're going to avoid news, you're never gonna trade. A lot of times you're going to be in a trade when news show up, you either let it play out (it's 50/50 anyway) or you get out at a loss/small profit. This strategy is for people with deep pockets, you can blow 5 accounts of 1k before you finally grow one to 10k. Which is fine if you have enough funds, which isn't the case of 99% of people.
Great advice bro. Add EurGBP to that list. When any of these pairs are in a range, u can essentially print money.
Nick I appreciate you man, I been trading and studying very hard for 1 year , and I realized I had to work on my confident, I kept thinking my edge of just focusing on controlling risk and managing my emotions wasn't enough , but you sir definitely was the last peace I needed In my journey . Thank you forever grateful!.
You are absolutely correct! 👍🏻
Hi Nick, another great video. What works better for you long term: hedging, as you were previously trading, or DCA, as shown here?
DEYM I THOUGHT THIS IS CLICKBAIT BUT MAN, YOU ARE THE BEST SO FAR THAT I'VE SEEN IN THIS PLATFORM
This is gold thank you 🙏
Quick question: how far out to do you place your plays? Do you day trade or long?
Trading is all about Money Management and risk management. Riosking 1-2% of your capital you can easily manage these trades.
my money management his having a US brokerage account with max 50 leverage ..There ya go..money management problem solved!
Despite the risk of being shadow banned for saying so:
This is insanely stupid.
" Roll the dice. If you get 1 to 5, you earn $10, but if you get 6, you give me $50 minus the premium for placing the bet ".
I can't understand how people think this is a legitimate way to make money in the long term. When a strategy is widely known and used, it doesn't and can't work.
Those who don't know say, those who know don't say.
Avoid get-rich-quick schemes at all costs. If it's too good to be true, it probably is.
Only comment I’ve liked so far
@@gwcaliber4694 it’s insane how nobody in the comments section talks about this
I was thinking about doing this last night and here we are today watching a video on it. Groovy man yeah.
The sad reality about FX trading is 98% of people on social media actually don't make money from trading, but from views, they just speak confidently about how they can help you make money from trading.
Looks like a nice DCA strategy. TFS!
Hi Nick I'm trying to learn with Tradingview's papertrading. But I can't figure out why (at least in PT) when I buy or sell different positions they get combined into an average making it harder or almost impossible to try your approach. Is there a difference between PT and real money orders in TV when it comes to this merging behavior?
paper trading is a netting account not a hedging account. you need a hedging account to have separate trades. not sure if tradingview does that for paper trading
Thank you Ashley!!!
@@ashleysoudah
If you go to settings and look for trade positions it will show you your positions on the chart but it’ll still group the trades as you said above but at least you’ll kno where your positions are
Yep, use a brokers paper trading account not tradingviews?
The TV PT is quite 'basic'.
Like someone else said, get a broker account and set up a demo account with them - will be much more realistic.
Take care bro. This video is crazily helpful in explaining probability, but only useful the forex. One big trend in crypto or index can send you home.
Unbelievable! I thought was the only one to trade this way. In two weeks im up over 140% with my paper account. I traded nearly a year in 2016 and just got back into it. I keep everything simple and manage my risk. Every now and i get an alert for too many trades but i had no losing days and making thousands every day this second week. Great minds think alike.
“It was another winning trade, i’m sorry “:)))
I know perfect what u’r doing, Nick .. we are trading the same “random” strategy … and is working like … amazing . 4-5% a day… on a basis …
“ I dont have to know what is going to happen in order to make money “… amazing powerful when you understand this .
Take care of lot size and dont blow account on one trade , the market is taking care of you ..
Stay safe !
Why would someone bother making youtube videos and selling trading courses if they're making millions in the markets? 🤔
That’s a silly question. To make more money. 🙄 Only poor people think this way. A CZcams channel is easy to create. If you have a following and can also teach what you know, why wouldn’t you want to do that and create more revenue? My question would be, why would any successful person not want to start a channel and start teaching. Jay Z makes millions of dollars off his rap music. That’s like saying why would jayz want to own a club, a cologne, restaurants, clothing, Realastate and art since he is a successful rapper? To create more revenue. Timberland is a very rich producer. He as well teaches a master beat making class. Stop thinking in the poverty consciousness mind. Start thing prosperity consciousness. 😉
@@Fortunefellas Hey Nick! 👋🏻
Silly question
I think u meant to comment this on ICP's channel 😅
Taxes
Very informative. Do you think it's suitable to use this on 5 minute time frame, in other fields like crypto?
On the last trade, you dropped down several steps before closing the position. The other trades you closed much earlier, usually just one step. Is that a rule of thumb to let the reversal run farther according to the number of positions added? Or? Thx
I was testing it yesterday and YES it works, but your mind game needs to be on world class level! You’ll wake up every day for a week ie looking at your account with growing red value and you know it’s a good spot to add even more. But you have to be strong mentally to do so! I might give it a go with some small amount.
Try it on the lower TF's. You'll have your outcome by the end of the day
@@cman5461 On the lower TF moves are too big I've noticed. It could be a game over.
What do you mean by TF??
@@DeepSran68 time frames
Mb w shd wrt al th tm wrds in short forms 😂😂😂
So Gambling + risk management is now the secret to success :D No need to understand what you are doing. Nice. Good luck with your Video business
I'm just starting to learn and this video was VERY useful. It let me know that I don't have to be a genius. It let me know how not to go completely bust while trading. Thanks for this.
Thanks for keeping it simple.
Wow, Nick! This is quite clever. Actually this is grid trading which works quite well in ranging markets by profiting from the normal volatility. It doesn’t work well in trending markets because you always trade against the trend.
and there are EAs that trade like this,you don't even have to do it manually
You really can't make a profit long term by grid trading because trading is a zero sum game and if you have no edge except guessing the direction of the market then you will only be right around 50% of the time. Without trading fees you would be breaking even long term. Once trading fees are added then you're actually losing money.
@@Michael-im5mq while that's true that you'll win 50% of the time. This strategy at least gives you a very high percentile of doubling your account prior to a trending market happening that blows an account given you size the initial position correctly. If position sizing is done correctly you can be in a drawdown of 8 trades going against you only for the market to shoot back to the start of the trend thus giving you at least breakeven when things go wrong from the start. The Forex Market is quite literally a rubber band
Yeah but before the market starts to trend MASSIVELY you may have made a lot of profit if you manage your RISK properly. That's the message he's tryin to pass across.
This doesnt work for strongly trending market like btc...
for forex it might work idk
if its trending then just buy in the direction of the trend. no need to hedge lol
Depends on your sizing? You might be right, tho. might be why he's showing FX examples as its more mean reverting it seems? Who knows
trending markets are the easiest to trade, why would you want to make it harder as it already is.
You just add buys on dips! Since it’s trending you don’t even have to worry about counter trend
He was trying to show that with correct position sizing and risk management, even random trading in this example can make us money. So for strong trending stocks, just trade with the trend and imagine the profits you will be reaping. Of course, never be greedy. Do take appropriate profit along the way if you have a plan on how to trail profit, milking the cow. We will never know when a crash is coming.
Wow .
This is one radical ,psychopathic approach to trading 😂😂
I love this ,im going to backtest this and see ..
His takes a lot of balls to do .
Thanks for sharing this
😂
This is f*cking amazing man, you made me realize that trading is really just risk management. Thank you so much!!
There's no risk management here lol. Eventually, you'll be maxed out in a position that keeps ripping against you and you'll blow your account.
I wish everyone on CZcams is as honest as u are.
so did that final trade take 1 month to close
1 month for a break even trade, its terrible
yeah a lot of money must be tied up with waiting or being in a loss, in the end it works out but it’s like waiting for hope to happen, and the prefered outcome doesn't seem likely and it’s all downside. But it’s so interesting how he makes it work for him.@@lewmaca
Hi Nick. Great video; thanks. If you don't mind asking me a question. I'm implementing your hedging strategy for trading futures. I'm mainly trading Dax and FTSE as the trading hours suit me well. I found it not easy to trade DAX as it is at its all-time high and still climbing. Obviously, you never know if it continue to climb or it will reverse. How do you trade stock like that? Are you still hedging? If so, and for example, if I'm in a short position from the very top (at the time) and open long after a spike, how long would you keep the long position open without knowing where the next zone is? Appreciate your time, and thanks.
This is gold. Thx
Tried this morning, 15 minute chart, paper trading, EURJPY. Sampled small, suddenly started diving and never came back. Was stuck in 10 positions.
Higher timeframe, less positions
@@FoxofFx The issue with higher time frames is that you can get stuck in a trade for weeks, meaning added fees for every trade you hold over night.
@@shimizu67sure but lets say you‘ve put 7-8 positions and after 3 weeks price went to your first position , all of them are winners and fees are not that high, you will cover them with your winners
@@shimizu67yes thats right but profits should be high enough to Cover that
@@FoxofFx I'll keep backtesting until I eventually find the sweet spot, thanks.
Ok. What should I do when the price IS goes one direction for a long time? Example - NQ Mini 12.03.2024 15:49 - 17:24.
I mean imagine that I was shorting in 15:49
Higher timeframe works best
@@FoxofFx The up trend lasted for just over 2 hours in this particular example. How will a 3m or 5m timeframe help me if I end up in the drawdown of about 10k in any case (in the end I will be able to break even, but still)...
@user-ni8zj6gv1e
Use 1h, 4h or Daily timeframe?
Use very low risk to allow larger moves on certain markets?
Cut the loss at a certain % or when you think price wont retrace for a long time?
Just suggestions from an unprofitable trader 👍
@@BrandonDrives Trading futures is almost impossible to use large frames. But thanks anyway.
@@TheSkyFallTronic I completely agree. I tried this "strategy" 200 times on replay and always ended up losing money due to long trend moves. Instead of this nonsense, I'm trying to play with Fibonacci levels.
I totally agree with ur method. I did some backtesting with random buy/sells .... and yep as long as you can deal with unrealised drawdown, in most cases you can close positions for profit or small loss, and as you do, if you hedge positions or add to losing positions you can greatly improve chances of profit. That said, even a weak edge on the entry like looking at the higher time frame direction , could help reducing the time in unrealised drawdown. The mindset is just like : if you bought a stock for buy and hold, at market open, you wont expect a profit for a few days/weeks, and if the price went against you, u might take more position on, but eventually it would all be ok in the end. It's like taking a long term view, but for shorter term profit.
Well said
Not sure if anyone pointed out but the beard game is on point 👌
How about getting out of the account quicker? So there's less chance/time to blow the profits?
For example if starting cap. is 50K - then transfering out 10K at 60K, and starting again with 50K? Thoughts?
That'll work
Also you should take profit between 4-6% 1 hour or 30 min chart. 3 trades a week and will almost double in a month. Pretty powerful if you can be mentally prepared to lose the entire account.
Only problem if you hit supertrend in opposite direction, so it blows your account before reverse. Otherwise it's just pure probability and market psychology. Cause it always bounces at some point.
Thats why he says that he uses a small account
I think i totally get you bro. You make sense. I have been trading Nasdaq with its strong uptrend on pullbacks, with a huge stop loss way outta the way of price. Not a gr8 strategy if it tanks and heads south big time, but that's unlikely. If it does head south, i'd jump on shorts till it came back, just like the cycles of nature. Interesting stuff. Hope ur cough's better. ty 4 vid
You're golden goose Nick, not even a Goat at this point. Literally clicking some bs random direction buy/sell, printing money, vs 90% of forex "students" frying them brains trying to figure this sht out. Love that.
I just wonder about one thing - many people now are trying to pass prop funds, there is 5% and 10% max. drawdowns, what would you say about sizing positions in such case?
I'm curious about that too
Lowing the position sizing I guess. Nick strat is high risk high reward in prop you need to low risk low reward to cater max daily drawdown and blowing accounts. My 2cents.
I do a ftmo challenge right now with this strategy. Its a 160k account so daily drawdown is 8k max!
You have to keep in mind never reach this 8k.
So in my case 1% (1600) would be a little bit too much, I will risk like 0,5%, which means I will enter a second position after 800 in drawdown. It should go well long enough to pass this thing 😂
I trade on Daily timeframe btw so its a swing Account
@@FoxofFx what timeframe?
@@hihi695daily timeframe mostly. It works good on 1h too
Nick, why you stopped calling your trades on the free telegram after all those years?😢
Thanks for all your great video's!
Guessing trading ain’t going as well as he claims so he needs an income source
It's literally true, nothing equal to a huge passive income even if he is totally wrong about his trades he will be still profitable 😅
Sadly I saw a post a few days ago where he tried to convince someone to join his close group in a extrem ugly way
@@Nick-nv3epJust for the record, he can be very sarcastic and impatient with idiots, I've seen it a few times. I get it and it doesn't bother me at all. Trading has never had a built in politeness factor, it's a jungle. People can either hack it or they can't.
He only called them there for about a week, so he could open a new channel specifically for his trade calls which he put a fee on?
I think he goes through a cycle of losing paid members and calling trades for free to get new memberships.
I fully agree with you. I have a demo account of $5000 that is almost doubled without using stop loss, because this account is the stop loss by itself. I have 19 winning trades in a row (from the moment I've adopted this strategy I haven't lose any trade). On the other hand, I struggle with my prop firm account, trading with stop loss.
Use this strategy with your prop trading Account
Use very small risk? No time limit. If you're profitable, then eventually you will pass.
If you have spare cash, you could risk more and risk blowing the challenge then lower risk? Just to pass quicker.
Just suggestions from an unprofitable trade 👍
@@BrandonDrivesyes thats it. You could do it with higher risk but you will pass really fast.. or with less risk but it will take longer then.
Most important point before you start trading is the "Position Size".
Start with a small size so that you can dca on the way up or down. Ultimately u either profit or break even.
I’m fast af boi, clicked the video as fast as I could once notification hit
ok
Yuppers. I'm middle age now, used to trade in the 90s and lost money (thank u scum bag broker scams). When I would go to a casino I'd play a 1:1 card game essentially implementing this tactic to be able to play to break even or only slight losses or wins. I knew this was applicable to trading but never took the time to sit down and figure it out until the past year, and found your content verifying so many of my theories...which boils down...the big secret...to money management and a decent "feel" for what you're doing that comes with experience that anyone can learn with just a little confidence. It's a huge psychological, almost "spiritual" (as some might say) life game. It will also challenge anyone stuck in poverty consciousness...giving them a potential out to being poor and having a quality of life for the first time. I've been poor most of my life until recently. Huge cheers Nick, just love your content.
Refreshing! Best I have seen in a long time. Ever trade stocks?
I just traded the ES the exact same way except for following buy low sell high rules. Made $937. I fade the gap at the open. This works. Traded FX too.
Will it work on a funded account? We've a max loss and if positioned well, then we have a chance for small profit. Need your insights on this
IDK man, it seems like you're showing the best case scenario, when the trade reverses exactly to your entry point. There is no way most of those trades reverse back to your entry.
Also, what is the point of holding onto the losing trades, hoping that the next time you add to it and it actually reverses you'd be at break even.
At 9:11 mark you're saying in the runaway market the trade will usually retrace allowing you to exit at BE or in profit. It would have to retrace all the way back to your first entry for you to be at break even, not to mention in profit.
With all due respect, I call BS
Bs meaning please?
Whoosh, you totally missed the entire point. You are essentially saying, I don't like the strat or don't understand it so why don't you use stop loss? The whole point of the strategy is that you are risking rapid growth for extreme risk. You are risking whatever the account is to double it in less than 90 days. The nature of the strategy is high time frame and a bet the market will revert to the mean eventually when its going against you. you want some drawdown in reality because you are doubling your lot size after every market extension .
You have no idea how powerful this is, about 10% of your portfolio should be in high risk stocks or investments and this is definitely going to be mine. This is the closest thing to an ATM Ive ever found.
Bro having trouble to breath
I always have to think that it sounds like "that shit too easy for me"
i know, hope hes OK!!!
Nick has Tourette's that manifests as a cough. Sometimes he has to power through it.
@@metalchips okay thats unfortunate
@@metalchipsI was wondering as well. Glad he's not more severely ill.
Hi Nick love the contrarian and unique approach, could this be the best way to maximise prop firm accounts with maximum $2,500 loss limit, what sort of position sizing would you do based on that max risk? Also can you do this same strategy on the minute chart for the US trading hours on a intraday basis? Appretiate you brother!
Im pretty certain this guy isn't profitable. Followed his group for a while. Gets in some pretty big holes and I don't see him really coming out ahead
ye he takes more risk. but in principle it works
Yeah so... I came across this video and umm well. I trade in virtually the same way. I run different entry rules, however... I haven't lost a trade since March. Sadly I'm running a small account so I can't say I've won millions or whatever. But yeah, I came to the same conclusion after 1 year of trading.
Good luck blowing your accounts!
Unfortunately, its another win. im sorry! xD HAHAH
You are by far the most honest trader youtuber I have ever seen! Well done
I just got into trading, and the things I have seen to try and predict are insane. But this is amazing
can you pls explain how are u doing it in cypto since we cant do more then 1 position in the same direction ? we cant keep buying or selling
You have trading psychology down pat. Thank you.
That's a good beard man.
thanks for the video nick.. take love. I have a question tho. In the back-test, you took short position on july 24 and you kept trading short until you closed the trade at a loss on September 12!! Now in real scenario, you really wouldn't have waited one-and-a-half month just to close the trade at a loss,right? so what would you have done then?
the key is dynamic sizing ie you keep adding to the position if it's right and vice versa
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month this 2024 investing with Sonia Hicks.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
I'm new at this, please how can I reach her?
YES!!! That's exactly her name (Sonia Hicks) so many people have recommended highly about her and am just starting with her 😊 from Brisbane Australia🇦🇺
You trade with Sonia Hicks too? Wow that woman has been a blessing to me and my family.
So basically just dca into a postion.