Expectations Are Destroying Your Trading Journey
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- Опубліковано 19 кві 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 - Домашні улюбленці та дикі тварини
Hi Nick, I've been following you for the past 6 Months and finally I am now confident in my trading. I've been getting experience of the market from a long time and now I'm finally ready to start on real money. I'm from India so it's difficult for me to build a big enough capital to start consistently trading.
Can you give me a suggestion as to what should I do? I'm thinking about 2 options, either to save up around 300$ and try to compound it using high risk trades. Or go for Prop firm challenges which I can afford around 1 every month (10k Challenge).
You are the only trader I followed ever, I even thought about joining the close friends however doing that will cost me my all potential trading capital. I hope you will help me with a response, or general advice.
Thank you for your time, Nick.
Responded to your question in the Telegram channel, man - t.me/mfxpublic/17305
@@NickShawnFX Just saw that you responded, it's 4:00 am here and I'm in shock! Thank you for taking the time to respond. Your advice is tremendously valuable for me. I would love to have a 1-1 session with you one day, even if it's through the close friends or the 1-1 mentorship (which I can't afford yet, but will surely one day!)
Thank you nick! I greatly admire you and everything you have done for us new traders.
@NickShawnFX Good response, but your voice sounds like day 420!
Nick, the audio you just posted on the open telegram group is brilliant and you should definitely turn it into a video (I haven’t actually watched this vid yet, so apologies if this is it lol. I’ve been listening to the audio)
Thanks, Davy
So, just watched the video, thanks, great reality check. I LOVE your realistic approach! TY
When you work on something that only has the capacity to make you 5 dollars, it does not matter how much harder you work - the most you will make is 5 dollars.❤
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I'm 35. My interest in trading started 16 years ago when I was 19 and I have been trying to make it work since then. I'm still not profitable and still unable to give up. Listen to this man, anyone who tells you it's easy is lying. Good luck!
Probably unresolved psychological issues/childhood trauma if I had to guess
I think its time to just flip a coin to enter trades
why? whats reason of your unprofitably?
😂😂16yrs of failure you hold world record for that
@@Gbekaxo what will be reason or hes lying?
Truth!! In trading, a lot of times, we do everything "right", but we lose anyway. We apply logic to a situation where logic often doesn't apply. But we keep going, maximize the winners and minimize the losers, and that's about all we can do.
"Because it's fucking hard" quote hit hard
Lol so true. I literally expect nothing after so many defeats. But I know one thing I will never give up
Never give up! Yes!
what is your trading strategy
@@rg950dumb question
You are actually right on most all your trades. The reason for your defeats is because you're not a scumbag insider trader. They front load your trades to make you lose. Why do think all traders say as soon as I got out the trade with the loss it went my direction? This guy is kind of right about tech patterns IMO. They don't work for you in the short term and that's when you need them to work to get into a trade right. But in the long term maybe they will help you anticipate something, but your eyes on the long-term highs and lows can work to keep your price away from their stop loss hunters long enough for your trade to work for you. Easy said hard to do.
@@itechfive240 I think stop loss hunters ar a myth. There's too many orders to do that. However you usually do hit your stop loss and it goes in your direction.
Thanks Nick! The VOICE of REASON and for all your cold water you throw it is actually VERY comforting because truth is always a preferred partner in life versus falsehoods (which always lead to destruction).
Mate I like your style and I also believe everything you said now that I have been doing this for years. Keep up the good work ..
Thank you Nick 🙏🏻
Been trading over 12 years. Nick is 100% right on.
Are you profitable
Are you profitable
Are you profitable?
Didn't think so.
@@odedechurchill2823 yes. But I only trade futures. Don’t trade forex anymore
@@mo938 yes. But I only trade futures. Don’t trade forex anymore
Killing hard reality. I agree after 20years of experience. 🎉🎉you're the best Nick
Dude you don’t know how much I needed this video
try this:
on crypto.
100 leverage, cross margin,. use 1% of account.
if losing, I re enter on a different coin to break even on the loser.
Thanks Nick.
Very interesting Point of view 👍🏼
so short but by far the best video you have ever released (sweet word are not true and true words are not sweet) i have been noticing it just has been hard to admit it the only thing i can do for myself now is have the discipline to do less and turn it to a habit i will be profitable this year i believe!
You're totally right,I can see all this related to the reason why we all go through the boom and bust cycle,I appreciate so much what you do and you're improving my mindset towards trading,thanks!
Yess a new video!!
Nick I 100% Agree & I Need To Say That Since The Second Week Of March I Have Been Really Profitable Following Your 50/50 Rule So That I Don't Over Complicate Things, I Just Need To Lock In On Trading A+ Setups Because I Do Over Trade.
Thank you nick
Hi Nick! I like your style and I believe you are one of the realest dudes out there. There is one video that you were interviewing a trader in your discord group or whatever. I am looking for that video. I thought your video was titled Fearless Trader that Doesn't Use Stops. That video had a big impact on how I trade now. I like being able to be flexible, and he said one thing that stuck with me and I love it. When I think that a stock is going up, and it goes down, he said "hit it again" and then he said if it keeps going down "hit it again". Also that you don't need a stop loss if your entry price is your stop. Fkn Brilliant. Damn! Great advice! That guy was great!
I love this guy!
I'm shattered that I only found you a few days before you became a paid service. I might sign up in future.
Very good advise nick 👍🏼
Thanks alot nick. Its sycological psicological terapic brain calmles beter than daily meditation. Best of guru regards from himalaya
I needed to hear this today. I got wrecked on 2 accounts last Friday. Really disheartening, but I know the reason I am most disappointed is because I got too greedy with my position size after 3 weeks of solid progress. It was a reality check. Thank you for helping me step back and check myself.
Amen, nothing more to say!
I hear wisdom in many of your videos and am trying to absorb that. It would be cool to meet you.
Omg a timely video! I got schooled last week with aud/usd. Totally expected something that didn’t happen and had to close out trades in drawdown before my broker stepped in… I should’ve hedged like normal but didn’t. Such a dumb mistake on my part
Wise beyond your age bro
Your da best bruh.
How do you know he's the best? You don't even know if he is profitable... He only shows you what he wants to show you - he has no publicly audited records that prove, beyond the shadow of a doubt, that he is actually profitable..... Hmmm wonder why he's never done that...
@@mo938even if he produced his records before you. You still wouldn't believe him. Why would Nick waste his time trying to prove himself. I've seen his live videos and he is quite genuine in his trading
I wonder how many people will actually grasp what you just said ...good job saying it though lol really enjoy your posts
I’m naming one of the voices in my head nick cuz this is exactly how it talks
Skill set should be basic supply and demand and getting as much experience as possible. Risk management is key, little wins add up and accept that failure is just around the corner. Always keep a backup account just in case things go south.
Just f. perfect !
Yup.
I will be turning 21 this august, I started trading since 2020 January and it’s been 4 years, I realized my expectations were not in line with reality after loosing many funded accounts worth thousand of dollars, I came to the conclusion that trading is hard February 2023 by February 2024 I became profitable, I’m not yet able to live off my profits but I thank God for hardship and persistence
After 1,5 year Ive received my second payment from FTMO from the same account which is important I guess and Nick is on point here. At some point I realized that trading won't ever get easier, it's just me getting better at dealing with pressure. Traders don't go to normal psychologist. They go to sport psychologists as the mindset super in common for sportsman and trader. Jordan being Jordan isn't comfortable with next game he has to play. He's just excellent dealing with what comes with being at the top.
yeah nowadays, i see these terms liquidation, initiation, mitigation immigrattion transmigration, fractal fart farcical high low 😅that there werent (or at least i didnt know) when i started trading 10-11 yrs ago. even people now say supply and demand when they were just support and resistance. everything just sounds so fancy while all you need to do is "keep it simple" like nick said. am just beginning to be profitable, just kept trying all these 10 or so years. my trading way's evolved and yours will with screen time, but one thing for sure, i've always kept things simple. the most complex thing i did was using exponential moving average, even then i ditched it and now i only see naked charts. even if dont really make it in the future, i'd still enjoy trading and i dont get frustrated. sorry for the long comment thought i can testify 😃to what nick's been saying, and that is , again, keep it simple. let your trading evolve naturally.
I'm an OG trader. I just got started a few months ago. I've yet to be profitable. But I'm screaming YES, YES, YES, I welcome that it is going to be hard, that it's going to be difficult, because I will be a trader until I die. I'm ready, I'm excited, I'm all in! Great video! Preach!
You're an OG.... that just started a few months ago???? Like, what????
@@mo938 he just means he's a bit older bro use your common sense
You got it Tim. Mo, I meant I’m an old guy just getting started. I owned crypto since 2018 but always thought trading was too hard. Not anymore.
@@timchurch2390 lol his wording was a little confusing. I'm an OG UA-camr but I just started.
@@timchurch2390I got confused to. Saying "og trader" suggests he's been doing it a long time.
Hey Nick, for the past 3 months I've been following your strategy. And I have to say, it's pretty good, with a few little personal tweaks.
Me personally, I think you're the only trader that is down to the earth, speaks like an ordinary human with basic human terms so we can understand. And the fact that you make your videos simple helps a lot.
But, I know it's kinda unexpected, I didn't want to ask for advice but rather for a job opportunity.
I've seen that you have been making shorts lately and I thought I could help you edit shorts and upload them whenever you want.
I have examples and also made a tt acc with clips of your vids (pls don't get mad) and I have proof if you want
In return, I honestly don't want anything, I just want to learn from you. That's basically it, and I really mean that I don't want anything.
I hope you see this and think abt it because for me personally it would help me a ton. Especially from a guy like you.
Btw sry for commenting abt this on your vid there was really no other way I could contact you
Thanks,
Armi
True advice from our master wizard himself. You’re hedging strategy has me trading stress free and profitable , much appreciated
It CAN be a passive income from the beach thing - if the system is automated
Hi Nick, would you be able to cover some brokers that you recommend or use personally. I know you have covered one but that was a while back and some brokers have changed drastically since then such as Hankotrade.
I agreed with your point on not using prop firms and I feel the only other viable option is to use unregulated brokers, but I’m struggling to find a good one with a good platform. Thanks bro
Lock up your women! Nicks rockin the FULL ON soup saver(beard) lookin sharpish nick! great vid as always,
You're not a god? Damn...now I need to rethink my strategy
Nick, I have an extremely important question.
This question is so crucial I just can't get past it, it affects my trading, my perception of your trading concepts, any belief I have in the system overall, my appreciation of your 8 years of experience.. Ultimately it even underpins the very idea of trading at all... and I can't believe you have not addressed it in any content thus far..
Why AOE4 over AO2de?:)
Question. Do you usually trade the 1 hour chart or do more scalping plays
Trading has taught me I'm stupid, really stupid, despite my belief and confidence in myself I do NOT know how to be profitable trading. All I can do is try things and keep doing the things that work and eliminate the things that do not, even when it seems counterintuitive to do so.
Hey nick have you ever considered trading the futures market?
trading is quantum mechanics
I expect to get wrecked, but am pleasantly surprised when I don’t….
This shit is hard, as fuck. Thank you for the videos, because I can't afford to subscribe to your close friends group. I've watched all of your free videos and I'm a better trader. Hopefully I can get my shit together and start making money. When I do, I'm sending, you a sort of finders fee. I need to give you something for what you taught me. Updates incoming.
Who was that guy that says no stop? Nick interviewed him here. Cannot find the video.
I used your strategy the one where u place trades even if it goes against you cause you know or feel it’s going to atleast come back so the first trade will break even or be profitable. And yea on a 200k demo account I’m up 37k in two days. I’m placing 1500 dollar trades. Yea that strategy definatly works. I’m testing it out on a demo 200k account once I feel I’m ready I’m gonna pay for a 300k funded account n play the same trades. I previously was placing to high of trades I guess on a 500 dollar real money account and if it weren’t for my small account I would have made a lot of money. Placing big money trades on small account gets you tooken out of trades and losing money.
Without a decent sample size you can't know anything about a strategy at least try to get enough trades in.
The number isn't really agreed upon but I'll say like 300 trades.
@@GlitchMatrix-bs7ib I’ve placed like 80 trades using that strategy. You don’t think I know about the strategy yet? What the f*** haha. Maby ur rite I should practice it more which is what I’m doing but it’s a pretty easy strategy to learn. Yea I’m gonna keep doing that strategy I had came to the conclusion or was coming up with a very similar strategy on my own except I wouldn’t ad to losing trades. I’d leave the trade until it came back up or down to profitable or break even. And I’ve only been trading a month and was coming or starting to do what this strategy teaches. Once I saw this video it cemented that it was a good strategy and also he ads buys or sells even to losing trades so that made it better cause you can profit on losing trades.
Nick, are you still using your hedge system?
I Nick, i feel like The first commment from our Indian friend, but i am trading in Crypto too, and im thinking what makes you still trading Forex than Crypto, can you tell us why you believe more in Forex?
trading for 13 years but seriously for last 3 practicing daily. down about 40000. but feel I'm very close now that I discovered futures.
You've been trading for 13 years and just now discovered futures??? Wtf
You need to stop trading and get some real education , have you been in or are you in a trading community group ? If not seek out some good educators , I have done a couple of groups , KB trading is a good educator and so is RockzFX. losing 40 000 is a lot to lose especially if you have been trading 13 yrs
I hate how good you are at this, it's only because i see you as my rival. I know it's silly, but it's fun to try to catch up to someone.
@Clikmybiotowhats-app Naaah, i'm good thx, great videos btw. As someone who's still learning the ropes, your wisdom really helps to get the basics right and saves a ton of time for rookies like me. Thank you for your hard and honest work. Honestly i don't feel worthy of your attention yet, i only just started trading live after all. Will get in touch once i will get my first million or so, see you then.
I have been long the indexes this week. It hasn't been fun.
Feeling much better today.
❤
It's really hard... Even this support and resistance thing. I seem to lose every trade I take. I'm so tempted to sell at support and buy at resistance with a negative R:R, because no matter how much I play by the rules, the market just throws a big "fuck you" every time. I'm so used to waking up to a notification which says "order has been closed due to stop loss". I'm should be winning more trades than I lose, but I have less than a 50% win rate, even using a 1:1 R:R.
Are you day trading?
What happens if you take your trades in the simulator in tradingview instead, and then right away go place the opposite trade on your live account?
1:1 R:R IMHO is to low . your R:R needs to be 1:3 as with a 1:3 R:R you only need to win 33% of the time to break even , so anything more is profit , have you tried taking partial withdrawals when in profit and let the rest run to a more bigger target? or you could trail your stop once in profit at the last swing point once the market has made a new HH or LL
@@mike004692 Are you proffitable??? Didn't think so.
@@mike004692how long have you been trading?
When I'm about to enter a trade, i ask myself- WWND? And then i do, and it works out😜
This is the hard truth nobody wants to hear, and when you speak with people that actually have years in trading and are profitable, they will tell you the same thing, if anyone tells you otherwise, run.
Hello Nick, you didn’t cough on this video🎉
He is probably an AI 😂😂😂😂😂
Trading profitably for longterm is really hard and requires high discipline.I think for lots of people its better to find a good EA with a monthly profit of 5_10 and do not trade by yourself...
Are you profitable?
I've done something similar on crypto.
100 leverage, cross margin,. use 1% of account.
if losing, I re enter on a different coin to break even on the loser.
"We have words for things like this and it's called delusion" lmao
I just don't understand how most people actually seem to go into this thinking it's going to be easy and it's going to make them rich relatively quickly. I'm seriously ahead of 90% just by not having that expectation?
Hold your hourse boy.....
To be ahead of 90% you need to know that trading is pure gambling and all trading strategies are gambler fallacy.( They rely on past and not abitrage formation)
*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.*
So if he does answer consider me your guardian angel first thing is get one profitable trader and do all the back ground check to make sure he isn't just a fake trader that makes money of education because there are many that have so many followers you will never believe it hint check out a trader that posts there trades on social media all the time most of those are genuine 2 make sure you learn there strategy with demo and when I say learn make sure you don't deviate from it if it is good and you are okay with it go to step 3 trade live with a prop firm buy a $5000 acc won't be more than $100 you most likely will fail it then step 4 CONTROL RISK make sure you are placing a certain amount of trades in a month at most 10 this will make you trade very minimally and from there don't expect any amount of returns just follow your risk management per week and month rules plus the strategies are tricky sometimes but if you are a fan of nick you might have watched a video where he randomly buys and sells and still makes money 😂
I'd recommend to trade on a demo account first until at least you are profitable for a few months in a row. Nick does a splitting method, so you should start THEN with about 1 tenth of your capital - a 1000 bucks in your case. After Demo trading.
ICT is the best trader. He is the founder of trading algorithms even Barclays were chasing him
Bullshit.
He always loses his trades on streams, then blames it on everybody except himself.
I'm 1,000% positive that Jedi is being sarcastic
Lol
@@NickShawnFX smart nick
Got me scared asf
first
Hi Nick, do you have a verified telegram account?
If only Elon could hurry up with his chip with a switch to shut off emotions, then trading would be soo easy!
Murdering someone too. So a very dangerous thought.
Being profitable has nothing to do with good phycology or good risk management.
I hear the law of attraction people coming over with their thoughts that if you expect nothing you'll attract nothing and so on... Obviously the law of attraction is proven false everyday in each's own experience. Just because you expected something and it happened doesn't mean that it happened because you expected it, if that were the case then everything you'd expect would happen, but that is something evident they don't see straight.
it's crazy if i did the opppite of what i did i would be rich lol
Nope, odds are you'd still be failing.
@@mo938so what do i do to become rich like you.
@@mo938 you sound like an experience trader.
You could just have told the kid that the spread/slippage is fucking his strategy even when he tries abitrage approach 😂😂😂😂😂😂
@@paulnyagini it's highly unlikely that's the reason. I believe you mean arbitrage?
@@mo938 not really. You just missed the point I was making.
What’s the deal with the beard? Long / Short…
Can you invite me in close friends group for free please
Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️
I'm 37 and have been looking for ways to be successful, please how??
Sure, the investment-advisor that guides me is..
Mrs Kathy lien
Her services is the best, I got a brand new Lambo last week and paid off my mortgage loan thanks to her wonderful services!
😱Sounds familiar, I have heard her name on several occasions.. and both her success stories in the wall Street journal!
Self aggrandizing? So trade for sport but not to win?
You should play to win not for sport.
Try to use intuition on checkers game and see your self getting burnt.