There is a rule my mentor taught me and it’s called “the parachute rule” if I lose more than 3 trades in a row, I force myself to take a 24 hour break. It’s in my trade plan and stops me from chasing my losses and revenge trading which is a sure fire way to blow your account
I'm a semi-beginner trader, I absolutely agree with the part about not waiting for confirmation candles, it's not as much of a gamble as a lot would think, especially when following a STRICT 1%risk strategy. Sure, you may get stopped out at 1%, in fact the higher your trade volume ,the more easily you will get stopped, but at 1% risk you can get in 100 times before your entire account is gone. When price is at these bottom zones and the upside potential is huge, you take that risk, the reward is worth it
Great video! Well articulated. But doesn’t it seem weird that there’s so much trading advice on the internet, but apparently only a handful of people are profitable at it. The financial trade markets are inherently complex and risky per se however, once you’ve found your sweet spot it can be a money faucet I know for a fact.
A right risk-to-reward ratio will always cover losses. Allow me to put it this way, from firsthand encounter, I can attest that professionalism and proper risk management definitely bring about lucrative investments. I've worked with Kevin S. Mikan an active veteran trader for 8months now, his system is my edge. It does all the heavy lifting, ensuring me consistent 5-6 digit returns without the risk of ruins. Thus far his methodology works and it's been impeccable.
Kevin S Mikan is really making a name for himself, Nice man! He doesn't just throw picks against a wall to see what sticks... 6 of 7 first eight days' trades were winners! In this market that's fantastic. His services are indeed worth it. Good man!
The first 2 mins of the video was like you was talking about me. Big lot sizes, scalping 10 pips . 101 trades a day and am down 14usd. I don't want happened but out of nowhere the last 2 weeks I have my phone in my hand 15hours just chasing candles and I actually think I have gained some anxiety and depression along the way lol this is the best RU-vid trading chanel for me. Big love
Thanks for sharing awesome tips! I'm financially free and currently growing a solid retirement plan. It takes a positive and consistency to learn new things, unlearn the old habits is important to get a mentor/coach to lead you all the way. It's great to start young too!!
Your first point is so true. I constantly find myself betting against the trend for a higher reward and I recognize that I'm doing it. But for some reason I keep on doing it, I'll overcome it eventually though!
On the topic of anticipation VS confirmation, I actually like a mix of both. I can enter anticipation zone with smaller lots then enter confirmation zone with regular lots. This way I can both maximize profits and minimize losses
I love how you said “if it’s against the trend” never add to a loser. Because I don’t add to losing trades but 9 times out of 10 I would make a ton of money if I did because I’m almost always right, just too early. There are times to add, times to hold and times to cut. There’s no rule because every trade is different.
Timing is a hell of a problem for most traders. Means you're anticipating too much and not waiting for further confirmations. Patience is the Key in this field mate. You'd rather take one big shot at the market at the right time or try to get in too early because you FOMO and potentially taking X loses first before the market moves in your direction ? Think about it ;) Be patient and good luck to you 🙏
I have lost a lot of money (all that I deposited) on olymptrade as I opened traded impulsively after making initial loses. Anyway I have a question if you would bother answering. What if I make a deposit with a bonus coupon ,avail bonus and then withdraw my deposit without any trading? (iknow bonus can't be withdrawn) . Is it possible withdrawing without doing any trade? If yes, what happens then to the bonus money? Does it remain there to make trades?
@@manishakt5432 Generally the bonus is removed after your withdrawal so... Brokers don't give free money bro. I'd advise you to turn your head towards prop firms, I'm trading only with prop firms account for about a year now, it's the better move if you don't have huge funds to trade with your own money :)
I am at the point now where I know all I need to know except future lessons obviously. We r always learning. Saying that I do need control & discipline
For me I was trading against the trend as I wasn't sure of the 'trend' was. Sometimes, I still don't know which way things are going. I can't hold for too long while trading the /ES, but I only use 1 contract. I'm getting better at learning what kind of trader I am. Thank you for the video!
@@alifetomake Yes you may, and I have done that now for a few years. it really helped to see the smaller trends after looking at the bigger picture. ☕😀
absolutely great collection of typical mistakes basically everybody is tempted to make. i think you are really good at narrowing down your observations into comprehensive explanations and examples. THANKS
I found your video from "Next level trading" team which is also name name telegram. my master shared your video later i learn manything ..Thanking you and master !! what a wounderfull this channel is!! All in one education!! 🙏❤💐
Awesome video! Very common sense, but hard to do. Most things you covered i have done and still do. Just yesterday i was up $3245 on a trade (AG). I said its going higher but knew on the other hand its not as gold/silver started to pull back esp silver. At the end of the day i got out with a $505 dollar gain. This was a three day swing trade. I knew better but the greed ego won. I have done this very exact thing many times and sometimes at a loss. But mostly gains. Thank y I u for your knowledge/experience.
In 99 I went bust with my 30k account. Options. In 2013 I went bust with my 20k account. Options. I went full time in 2016. In 2017 I lost 60 percent of my roll. in 2018 I lost 22 percent. I broke even in 2019. I make 0 to 10 percent a month now. seldom do i have a losing month now. Persistance is my secret.
Always backup your trading with a good strategy, else the bear market will hit you so hard, and you might wake up losing your saving, that's _crypto for you...
It is really refreshing to see a comment about Rodger M. Karl..I got a chance to benefit from his services few months ago and it has been a very smooth experience..
Haha! Just experienced the first one this week. "oh, price is falling further - fantastic, let's buy some more!" 🤑 Due to position sizing I was able to ride it out and get away with a little profit. But boy, that was stressful! I trust next time the alarm bell will ring. Thank you for sharing your insights!
Unbelievable good video! I can confirm that I faced with similar bahaviours while trading! And I came to the same conclusions! Thank you for sharing this video! It's worth pure gold! 💎💎💎
I shorted USDJPY at 134.40 on March 15 and held till today. I compounded on the 4hr retracements on the way down. +1100 pips in 10 days of trading. Had a 15% unrealized gain. The bottom is not in yet.
Great video! Amazing how some stocks continue in the same trend so long. If it’s trending against the way I think it should be going I just leave it alone. Guess I should think about trading those
I'm with you. For me it is sometimes surprising how much more prices can climb or drop even in a completely overbought/sold state. So in the beginning I completely overrated RSI and regression channels.
Excellent video. A good trade off for confirmation is to enter with confirmation on a smaller time frame than the time frame you are trading. Even scalpers can go to a tick chart for entry if looking for a 20 minute move on a 5 minute chart.
Perfect Timing. I know the trend is your friend but lost sight of it till I saw your Video. I have looked back over my trades and know now that by projecting my wants and the search for the big breakouts I have missed so many trades with the trend. Thank you so much 💯
Thank you Marius! Gold as always. Stressing on your point about addictive trading against the trend and the biggest loss out of that is missing big potential profits if traded in the right direction.
I'm still a big big noob when it comes to trading but I learned patience is key. Short term trades just stress me out and are very addictive indeed, for me.. having an addictive personality especially! The best trades I made so far where the ones I miss judged as short term, they went against me for like a pullback giving me big reds. I removed the stop losses, call it foolish, but eventually they turned into green cause I guess my first judgement was indeed correct, just not for short term. Still, I probably got lucky, and I should have waited for the pullback. These trades are very educational tho. Personally I learn the most from my mistakes.
01:09 - you use wrong settings for Moving Average and MA cross - it*s not a buy signal (!!!). In trend - MA is goal for correction waves! MA Cross is nothing. After correction we always get continuation of a trend. To stop the trend, another figure is needed - the formation of the peak of the wave of the trend dimension and its breakdown in the opposite direction.
i usually enter at support level without confirmation but with a tight stop loss.. works well.. but i got the same mentality at taking profits, and left without enjoying the massive trend that follow after
Nice video as always but here is my problem I have been making losses trying to make profit trading. I thought trading demo account is just like trading the real market... can anyone help me out or at least advise me on what to do?
Trading small lot sizes or minis/micros might help at the start if you trade them to focus more on HOW to trade with real money rather than trying to make a profit. After you learn how to trade real money, and you have a good strategy, risk control and trader psychology, you should do pretty well! All the best!
Excellent as always. The idea of wider stops is a poignant concept for me esp in these volatile emini mkts. I frequently get out...only to see the trade then go in desired direction. There has to be a neurobiological,fear aspect to my decision making it appears. This video was quite helpful. Thx.
thanks again! real good one. would love to see a video where you dive more into the diff aspects that you outline in the section on confirmation/anticipation approaches. what i mean is to more lay out diff ways to actually approach that. there are in certain instances ways to find a kind of middle ground. like: if more or less the situation presents as one to act upon (adequate to strong confluence of elements you want to see, etc.), but it is still not exactly confirmed. one can there have a total position one would like to do and then break that into two parts: 1. take small 'anticipation' position and then 2. if have confirmation, wait ideally for some pullback and then add in position (that combined with the first position equals the total you are willing to risk on this trade, for many that will be in area of 1.5 to 2.5 % of equity for trading per se)... i mention so as to outline but one possible way to find a 'middle ground'. but i think there are others and also a number of psychological and technical issues. So i just note, in hopes that you will at a later point, perhaps, dig more into the multiple aspects and practical possible ways to deal with this aspect: anticipation and confirmation. thanks again!
4:15 when you say become a market specialist focus on one market. I really like that. I was to become a consistent profitable swing trader. So Are you saying pick one stock in each sector say like utilities, Biotech, Energy etc to learn it characteristics to trade?
thank you for your video, have it extra translated into German. that with the stop loss, that's really annoying. But I do not have the mega account to set more pips to set a larger stop loss. I have filtered out the best tip for me and that is to pay more attention to the market noise and to enter at important support or resistance zones and that is at the distortion of the market. I am only 2 months in, read me, but the strategy with the market noise I have tested, unfortunately always too early until now started in the trade. But I am confident, I will still crack this.
