7th reason: Most of the traders are looking for Holy Grail and end up wasting all their money buying indicators, classes, and systems. They are not persistent in any single trading system. Their urge to find a new system never ends. They practice a system for a couple of weeks and then leave it behind and start to search for another one. There's a quote from Bruce Lee "I fear not the man who has practiced 10,000 kicks once, but I am fear the man who has practiced one kick 10,000 times"
Really very very Helpful video. Thanks for making. Summary of Six Trading Mistake 1. Lack of Knowledge; 2. No Idea or implement Risk Management; 2 % of capital 3. No Trading Plan; (Entry point, Exist Point, Slop Loss); it should be in Writing 4. Emotion and Psychological Factor; 5. Focusing on making FIXED money Goal; 6. Wanting instance Results that is lack of patience;
Mistake 1: No trading plan. Trading based off of how you feel or what it seems like the market will do. Mistake 2: No risk management. Increasing your risk just because a setup looks good. Mistake 3: Lofty expectations. Having a get rich quick mentality. Thank you Reid Hoffman for exposing these common mistakes we make in BO/FX trading. Keep making pips!
The rich sees an economic crisis as a garage sale also the rich stays rich by investing and diversifying their portfolio with stocks, crypto currency and forex trading which is the wisest thing every individual needs to do and it's really profiting
Summary: 1). Lack of knowledge: Oh if i use this indicator then i make money and blindly investing without knowing much about the whole picture. 2). Risk Management: When stock goes down not selling it at a loss. No one should lose > 2% 3). No trading plan: Not knowing when to buy or sell 4). Emotions: Rather then being objective to your trading plan, you let emotions trade for you. 5). Having money goals set and forcing trade just to hit the goal 6). Want to make money ASAP. *Any correction is much appreciated
Spot on Umar. In my opinion, risk management is perhaps the number one reason for wiping most of the traders out. Not knowing risk management is not knowing your trading plan entry/exit points and trading based on emotions in your head.
Most people remain poor only because friends and relatives discouraged and advised them against investing and trading forex while the wise ones kept investing and growing higher financially.
Nice video.please what's your best advice for a total newbie in the binary trade especially with Your Strategy. because I could only start with $1250 for now thanks
Umar, saw a video of yours a few days ago, didn't watch it then. Now just recently did after risk management got me. Im a 22 yo pre-med college student that had my portfolio diversified and was in on high volatility bio techs. Ive been trading since summer and turned my 5k into over 13 in just 4 months. Just lost it all on this Gern crap. Diversity. small % losses, stop losses and hedging positions with puts and calls as insurance from now on. Will take a long time to recover from this but was very confident and on the up and thinking of doing this long term/as a profession until these last couple days... Any advice or input for a guy? I appreciate it brother.
I'm about to start trying this out. I've been studying up on strategies, researching stocks, formulating my plans, and will soon be practicing with a paper account to see how well my plan works. My initial goal is just to see how much my due diligence has paid off in a paper account. After that, once I start using real money, I'll be more than happy to walk away each day with any profits (even if it's only pennies). I know there will be times along the way when I'll get tempted to gamble, and I may fall victim a few times to those moments (have to be honest; never say never), but those are opportunities to hit the reset button and return to what works.
The best Advice is to focus on being a good trader instead of putting money goals rightaway and blowing your account. Patience is key Thank you Umar , i am a top fan for your videos and the way you simplify things and explain why traders lose when they open their real accounts.
Hey, I’m new in trading, I don’t have any stock. sincerely I don’t understand much about this. I just open an account in Interactive Brokers. Where do I can start?
I think that the most common question that someone who wants to get into trading is: how much return can I have in one month? A video about a realistic monthly return (in percentage of course) will be very helpful for most of us who are thinking to get into trading!
I have never done any share trading before but I can't figure out from my basic knowledge where it goes complicated. When the stock price is low and goes up then buy. If the stock price still goes up after a short while then sell. If the stock price goes down then leave it alone and pick something else. What am I missing?
Awesome video bro. Ive had my foot in the door for about a week now with the paper trading, and I'm seeing expontetial growth in my knowledge for the market, and small growth on it. But thats okay, because i get it. Im patient, optimistic, and very self aware. I know rome wasn't built in a day, and your content has been a lot of the reason. Keep it coming my guy! Always dope to watch.
1. Learn the basics of trading (risk-management, Spread, Postion size, trading style...) 2. Get your self a proven strategy- learn how to apply it correctly 3. Stick to this certain strategy for at least 25-50 trades (depends on your trading style: scalp-, day-,swingtrading) 4. Reflect those 25-50 trades..proftitable? continue with it. nonprofitable? change your gameplan (strategy) and repeat This is what helped me a lot!
Do you have a trading class? I want to learn EVERYTHING I can first but I’m not sure who’s class to choose and I really like the way you explain things.
Your videos are awesome Umar. May I propose a suggestion? Would you consider making a video with a real world example? Like applying all the principles you mention (Risk management, trading plan...etc) on an actual stock and show all that on the video from the early beginning till you sell that stock. That would be extremely helpful and will give us a much better understanding of how proper trading should be.
So i took a Master Mind program which was great however it either didnt contain these or i wasnt able to absorb them. Three months in and you hit everything ive been doing. Im ready for the next stage
exactly why i failed at first . i had big % losses when i first started because i thought i knew what i was doing but luckily didnt put tooo much in the market . but i’ve been constantly learning and starting to get the hang of it and have been getting 2-6% gains since . i’m long term investor but i’m not rushing into purchases anymore . i wait until i see big drops or invest when i see good companies towards their 52week lows but are starting to move back up . also constantly reading up on the companies i’m investing in and everything ☺️
You told to stick to the initial written plan so that one should not get played by emotions. I want to ask, what should be our action if conditions changes and now circumstances demands us to close at some other price than what we initially decided to close at in order to make profit/more profit. Still we should go for initial one?? Plz suggest.
I will trade my plan w/ edge, I will have proper risk/reward parameters on every trade, I do not know if my trade will win or lose and I do not have to know, but I must trade from a series of trades perspective.
What are your thought on risk management for stock options. 2% for stocks makes sense but with options 2% of your portfolio could stop you out really quick.
I just started with stocks, so far ive lost alot and gained non. i use robinhood, as of right now i own two shares of tesla and a share of activision. any advice. my biggest fear is losing and im slowing working on it.
I use the same type of COMPOSITION BOOK that is in the picture. One for everything during the day. One for daily summary. And one to track WINNING trades.
Hello Umar, Could you please make a video with the basics of Chart analysis and particularly how to track price movement and predict or calculate the probability of a rise in stock price. Please tell us the key chart parameters to look for . Many thanks!
I had this guy 9 years ago ca. 2009 in my facebook friendlist, far away from big profit. Eating a normal streetfood for lunch after opening some orders. Good to see you again. Congratulations, good luck and besteht regards from Germany:)
Umar, I'm still willing to set a weekly/monthly money goal. I'd do so while MAINTAINING THE INTEGRITY OF MY STRATEGY. If I don't make any money in a week, I'll have the patience not to force trade, still selling when my strategy tells me to trade even if I'm not hitting my money goal. Over time, I'm willing to bet this level of patience and commitment to my strategy will prove profitable. You just have to exercise patience and integrity.
thanks umar...is it possible let us do trade same time as you do and show us which trade you have chosen on time? as a follower trader that some brokers have provided.
Money Goals- It takes money to make money. I agree trading takes time. Another reason why stockbrokers fail - They give their whole paychecks to stocks. Money management is a must to pay your bills,debts, etc.
HI Umar, I am newish to the market and how much liquidity do you think a new trader should start with? also is OTC's the right wave to ride? thanks sean.
never do...OTC....learn basics there are different types of trading..do your research,homework and understand how the market works...learn for free...INVESTOPEDIA.COM ..I have 20 yrs experience and I just like to see some of these youtube videos on traders and the comments...be very careful who you follow and get your information.....don't be so gullible ..do not believe just anyone...there all trying to sell you their material when you can learn for free..free good luck
@@arslanmahmood2192 i'll tell you what not to get into..forex,binary options,cfds,...just learn the basic markets like trading just in stocks and do not waste your money when you can get it free.....'INVESTOPEDIA.COM'has everything ther is to know and it has free courses ,that you would spend thousands for....its all free friend...do your research all in the internet...all free
so if you talking about losing 2%, and for example, you willing to lose 1/20th or 5% on an asset (buy @ 10, stop loss @ 9.5), would you then be willing to buy 2%x20 40% of your trading roll, so if you got stopped out, you'd lose 2% of your entire trading roll... or would your trade be maxed at strictly 2%? Also what do you think of bowinski's chart patterns book, i personally love it.
If you have 1000$ n you want to lose only 2 of your capital that about 20$ n you find a stock willing to buy at 10 with a stop of .5 so to lose only 20$ you need to buy 20/.5 =40 stock at 10 so when you stop out you will have a loss of 40*.5=20$
Would love to see a video from you with a introduction to the basics of the different types of trading and different types of markets you can trade in and what you would recommend for newer traders.
Hey Umar, I'm not a trader but found the video interesting. On instagram you were talking about having a series of videos on what you can achieve with $10,000 and show the whole process. Hope to see that sometimes : ) cheers !
The most important reason why most traders fail to be successful in the stock market is because they trade without experience and this is the mistake they do that makes them lose, having an expert mentor you is the most effective way of winning in the stock market. Who else agree with me?
I think investing with a Professional have proven to be more profitable in recent times, last year when i ventured into trading with no experience I lost $47k to the stock market, when i decided to allow Mr William Beckford trade on my behalf i can’t remember losing anymore money
i experience consistent wins with Sir william beckford carrying out trades for me, i wish i could learn how to master the market trends from him even as he gives out a free trading course to his client but unfortunately i am a little bit preoccupied with work
Trading with the right techniques and guidance has always yield a better result and even more profitable especially when you have an expert doing it for you, i really can’t recall recording any loss, when mr william wins i win too. i agree with you on that Florry Young!
@Mark Craig let me brief you on how he works, it’s just having him to trade on your behalf while he get his commission from the profits generated for you. Most importantly, he is reliable, trusted and works with a 1000% transparency which means you don’t have to send him your deposit unlike all these imposters that is after your capital. He deals on large scale investment as you stand the chance to gain up to 47% profits on weekly ROI. the greater your investment the higher your profits
He is open to doing business with only serious-minded people, you can reach him through mail. Please try to keep his contact confidential as i don’t usually give it out@Muhammad Joli
Hi Umar, your video lessons are really impressive. It gives a lot of courage to beginners. I would like to know about your opinion of Binary options trading. Is Binary trading good as stock trading?
Just subscribed. Is there a specific time that i can only day trade. I have a day job and im only free after 2:30 pm afternoon. Is it possible to day trade any time of the day or night? Please provide video would be great. God bless.
I am a 15 year old, I was always interested in stocks it seemed really interesting to me and always wanted to get into it, I also love money and wish to be a millionaire one day. I am willing to read books and everything to learn stocks. At what age can I start investing in stocks, can I do it as a teenager?
Hello , i am from india , last 2 month i am practicing to trade online through olymp trade , but before going to live trading i am so much confused to choose a good broken. Please help me out to get a trustable broker.
Hi Umar... I'm new I've been using a demo account..made some profits but I think that's not enough..... Is there a book you'd recommend me to read on the forex? Do you train? I've always desired to be independent
Hey Umar, I'm a 18 yr old that doesn't know what to do in life, I can't find a job we're I'm interested in and I saw one of your videos and I'm interested in the trading market and stocks, I'm willing to really learn I just need guidance
Go setp by setp....... algorithms trading is if u successful in normal trading ,then put and call option trading finally go for it.....who have big portion they use algorithm trading........
Hey Umar, I come from project of the bronx, Ny I lived there for 14 years. I'm 21 I have strong passion on becoming a trader. I want to get out do something amazing with myself. Your RU-vid video are great, informal, and motivational. If I do get out please let me buy you a drink. And for anybody else reading this, whole lotta trading shit!😂
Ey Bro', i just finna started, hows it going witchu? I managed so far to double my capital in a week, but im scared to keep going, so i stopped to reflect and hence im going thru these videos and reading a couple of forex books as well. I just realised how much there actually is to learn! I been following UmarAshraf for about 3years now but only took up trading now since corona had me out of a job. this is like the easiest entry into economic activity.
