@user-vk2rl5sv5r Try reducing your size, even down to one SPY share if needed. Track your trades and figure out where things are breaking down: are you choosing weak support zones? Are your stops too tight? Are you making emotional trades that don't follow your rules? Do you have rules? Are you revenge trading?). Also look into Elliott wave theory, it will help you decipher many of the patterns you are seeing and will work really well with Riley's style.
lmao I don’t know if this should make me feel any better 😂. There’s definitely a psychological aspect to it! Been dabbling in the market for a year now and I’m barely making progress/profit
Hey, I completely understand where you’re coming from if you’re being entirely honest then it sounds like you don’t have an edge maybe? Perhaps this could be a focal point for you this new year? Find a true mentor and apply yourself to that and see where you are…
I’ve had ten months of consistent outcomes just conservatively following plays from a licensed veteran… she shows me the ropes and her methodology works well for me! :)
Does she teach her methods? I’d need more 1-1 interactions privately to get started. Single parent working 50+ hr a week. Someone who can help me with my meager accounts. Would you be willing to share her info…
This is an incredible video. I have been demo trading for about 6 months to get a ground basis, but i only ended up losing because of loss of emotional control. Thank you for the simplification of a subject other channels overcomplicate. You know what you're doing, thank you for helping.
Hi Riley, I am so happy i found your channel. You fill up missing gaps in my whole understanding of trading, making it so clear. So much greatful for that 🙏 ❤
Your guidance and advice is really informative and extremely beneficial Riley . . . Thanks for being prepared to be giving back in such a detailed format. Great explanation. Well done and thanks so much.👌👍🤝
In my first month I had some good calls, but made a big mistake right at the end and basically blew up my account. Watching a a monthly trend I got a good bump but ended up making a fomo trade that wasn’t calculated right after and ended up losing most of it. Month two I have to try again
10:20 I love the discussion of how risk/reward affects a trader's emotions....I haven't heard anyone talk about that (everyone talks about the math), but it's so true.
Great Video - Best yet. Where is the link to the fillable Trading Strategy so we can develop our own? There's not a link in the description. Please if you can send. This is the main cornerstone to building what you taught us in the video
Thanks for not throwing complete bullshit in peoples faces. I wish i had seen this when i first started out, probably would've reduced alot of headache..!
I like your video and how you communicate. You take complex concepts and make it digestible for the average "Joe." I watch so many videos and its like the traders are speaking a different language. Thank you. I appreciate that you take the time to warn traders about the "pitfalls" and dangers of trading. This demonstrates that your are not just another guy on the internet peddaling the latest "miracle indicator."
Tyhis guy telling all the truth of trading this is the last chapter of trading im following this from last 12 months and im profitable and consistently profitable and i found this video today but in this video 1 point is missing to skip the psychology part
Hi Riley, thanks so much for your very educative and very well explanatory videos. I’m new to trading and I’ve watched tons of videos, but yours are definitely the ones I’ll use as my guide. But first, demo trading 😄.
Futures vs Forex? Which do you prefer and recommend for a newbie. I’m starting off learning forex cuz I’ve read it’s simpler and can start with less capital. Then move into futures but I don’t know what I don’t know
I also do not follow/believe in using win rate ratio parameters either - I day trade crude oil futures and set my nut at $400.00 per day per contract against an $80.00 max loss per contract per day. And only trade twice a day = early morning for 1/2 an hour and then again mid-morning for 1/2 an hour again! With this strategy, start out with only one contract per trade and then slowly work up to two contracts max as you become more and more consistent and profitable - "after" you have traded in simulation demo mode ON A CONSISTENT BASIS for at least 3-6 months! And I rarely have a negative day after MANY years of self-taught trading! Make your nut and stop trading for that particular day = period! I PERSONALLY find that crude oil is easier to day trade than the e-minis and I also find that crude oil tends to trend on a more consistent basis as well.....
So...in the 90% win rate one 400 dollar loss in ten trades would suck but in the 30% win rate example, seven 400 dollar losses in a row is less stressful? 😅
For people saying the 10k/month is too high of an amount i agree and riley does too in multiple videos que tells you how he literally gained "only" 5k(100%) in his first year But im sure he know makes 10k a month or more xD So yeah this (as everything) takes time
Hey guys i have been reading charts and trading a lot on multiple demo accounts for the last 5 years losing all money in some demo accounts but last month i was able to double my account within a month. I’m not sure if I’m ready to start with real money and honestly kindof scared. Anyone got some advice?
If it's been off for 5 years, you should take a break to get a clear start again. No offense, but it might just be a little bit of luck you've landed on. The good thing about you losing that badly is you already know how to lose. Go back to the basics, this video is amazing for clearing things up. Look at how and why you have lost. Even if you have 5 years of pure loss, no matter what that is already 5 years of experience, believe in yourself and trace back to your wins. Luck only takes you so far but it can also take you out f the darkest places. Keep going, give it about 5 or 6 months until you start to see more progress.
Ive understood how to use support and resistances but I cant find good stock charts. The charts you show are so good. are those small cap stocks? or options? or what? like how do u find good stocks that have like these nice charts and candles. ive been tryin to find one but i only found stocks making small candlesticks or if i found good ones then they are just way too expensive for me. like i will barely make maybe a dollar if i trade on that cuz i can only buy 1 or 2 stocks.
The only thing I wish trading view offered was margin simulation. It gives you the choice to add commission and create different paper accounts so you can have more than one paper account. I think it would be really dope if they added a margin option for the paper account sort of like the commission option. I want to simulate a realistic margin account that doesn't start you off with 100,000 dollars.
Pay attention to what hes saying and not so much on the amount hes making-- you can copy advice and choices but not luck...keep a positive mindset and try to make smart choices when you can
Riley, thanks for your video, I'd like to ask you if there is a video or somewhere where I can see a full tutorial explaining how to use the Ninjatrader platform? Let me know please, I'm eager to start my journey !!
Dude! You get some weird ass comments on your videos! haha. People talking about your hair and charts and all kinds of randomness. I appreciate you putting out the content though!
Dude, 100% on the risk/reward ratio and their relationship to emotions. Early on I had developed a similar strategy where it was risking $400 to make $100. The objective was a high win-rate (about 85% in this case), and in hindsight, it's just not worth it - 263 tests later, and after 3 losses in a row, the pressure to make it up is super rough. Thank you for demonstrating that, good points for sure.
Oh, and I'll always check out videos like these, even as a profitable trader (grew the account 9% yesterday! Pretty cool day), because the moment you stop learning, you expose yourself to loss from market changes that could have been avoided simply by keeping up to date and learning.
@@CarlosOliveira-iu4jw Save your money is a good advice , but demo trading is not a losing game . And then if by any chance you become profitable on your demo , seeing your Balance growing , constant profits for months , why wouldn't you invest real money ?
I think reversals is where its at for me too. I've tried bunches of strategies and just left options for futures. No more Iron condors, selling spreads, 0DTE and so on for me. The Greeks are just too tough. I think you have to find a trading plan that fits your life style...
Why not use the wheel strategy on solid stocks and if you're worried about getting assigned just roll down and out (for a net credit) until the stock moves back up. Plus you lower your capital at risk when you roll down. IDK but I've always felt like options were such an easy, passive strategy. Selling options that is...
@@travis1754 I agree with you, the wheel can be a very effective strategy. For me though, no matter which strategy I used with options, I found that I was constantly thinking about it. for my personal lifestyle and comfort level, I find that I like to scalp off of price action make my trade and the forget about it and go on with my day. Nothing wrong with the wheel, but not for me.
Riley, 1 contract on NQ, what would be ur risk reward? Every point is $20.00, I usually have my stop based on the 1 minute ATR... If it's 10 ATR my stop is 15. Ur thoughts for NQ ? THANKS for ur video ❤
I sent this video to my assistant who will be helping me find my setups and this is what i said: "A bit of click bait since the chances of becoming a 10k a month day trader is virtually impossible but this is a good summary of the journey that takes years, decades even"
I love your videos. The hardest part of trading is controlling emotions. I will definitely watch this later. How do you handle days where like the other days where the market just keeps going up or down in one direction. Lots of people playing the falling knife game or vise versa.
Demo trading takes away the emotion, you should just go in with actual cash so that you actually FEEL the mistakes, BUT just start with less money and fund your account monthly. Eventually you will get profitable and funding your account becomes unnecessary.
If you dont have any edge on the market its only gambling and you will loose on the long run like 99% of day traders after 1 year. (Prop firm stats). Indicators like rsi,macd,etc.. and all indicators reacting to price wont give you any edge.
Your content is useful in many ways but I will gracefully disagree that there's "only one way to be successful trading". There are hundreds of strategies that work over time.
if you watch his video(s), he frequently says - there are many ways. I've yet to hear him say there is only one, with The Exception, about knowing your basic information ..... although, I'm sure people make money just guessing
