There's a reason why videos like these get less views in comparison to the marketing gurus promising instant profits and an escape from the 9-5...nobody wants to hear the hard truths. Process based thinking over an outcome based approach all day! Great video M.
I’ve been trading for 12 years - it took me 3 years to become consistent…..even with 12 years in the game I still spend masses of time testing, analysing data and practicing. I think maybe the only reason I succeed was because I’m a software engineer, many of the skills I’ve gained in my work helped me in my trading. I have spent thousands of hours (not an exaggeration) on learning my craft and working on myself - but even with all that, trading is hard. It’s one of the reasons why much of my trading is now automated, by various tools I’ve written over the years. Even after 12 years I still have the capacity to make dumb trading decisions, it’s a constant battle.
Oh for sure & completely agree on your profession being a benefit. Plus it's in your DNA to be curious in that respect and for things to be methodical and tested. Glad to hear it's working well for you man!
Great video Matt, good to see you back! I think the 90% failure rate is an interesting one because I think largely people come into the industry thinking it’s easy money and a get rich quick scheme without really understanding what they’re getting in to and who they’re going up against when they trade the markets, and therefore get burnt very quickly, end up quitting and getting put in that 90% failure bracket. I wonder how many people who stick at it for years and approach it with some degree of rationale and thought-out strategy fail, I’d imagine probably closer to 90% of those people actually succeed over the long term.
Wow, great video as always and a much needed one Matt - between instagram posts showing profits, and ease of accessing prop firms, 'education materials' and what not, it is easy to overlook how actually difficult trading is. Especially the time, schedules, skill, mindsets and a slew of other things that one needs to be ready to change their life around. Glad to see some real truths being put out there - much appreciated! Also, great video quality - the colors, and the frame look great!
Wow Matt, this was what I needed to hear and thank you to help me not only with my skills and chart analysis but to really understand that tradeing is not just an escape from a 9 to 5 job or a quick financial gain. Its a life style and I am fully commited that I can be a day trader for the rest of my life. Today I took my first loss of the week and I felt emotion maturity as I know that take some losses is part of the game as my win rate is 60% so those 40% losses has to pop up now and then, I havent got spooked this time. Watching this video made me realised something I was kind of figuring out by myself slowly that I need to work on my expectations and to get better on all fronts of trading and to not rush the proces.
I have been trading Stocks and Futures and thats hard. so you're right about that. Is Forex harder than Stocks of Futures? I know its more confusing because you have all the different numbers to calculate and you indicated that you traded well with the indices idoing better than with the FX Pairs in your Pareto video. Are there recommended funding programs for indices, can you do those with FTMO and the other programs you've used?
I think the 90% figure is misleading, its likely because 90% dabble/gamble and give up before really trying to learn. Its like saying 99% of people fail at football because they never make money at it. Its an accurate figure but misleading. That 90% that failed never were traders to begin with, yeah they downloaded MT4, and yeah they took some trades, but they never became traders, they never really tried
Yeah it's a fair point. Though by people playing football and not making money from it, is far different from playing football and losing money from it. I think the same applies to any industry right? You can't become a lawyer without attending a Law degree but then very few make it to the heights that they initially intended or dreamed of despite studying for 6+ years and trying to get there. I agree that if you were to be able to isolate people who have structured their education in trading and been consistent with improvements (without peaks and troughs) for a year or two, then you would find they stand a higher chance of succeeding than someone who doesn't and this would bring the success rate higher than 10%. But I still think it would be a minority. I mean the purpose of this video wasn't necessarily intended for the people who are already that way inclined (like you by the sounds of it). It was more in response to comments I've got that were essentially infereing I was overlooking how hard trading was/trying to make it sound easy on this channel. This video was to put into perspective a few points to do with relative difficulty.
That pic picture got me laughing good. Worth the hours it probably took to put that in 😝 😂
🤣🤣🐖
There's a reason why videos like these get less views in comparison to the marketing gurus promising instant profits and an escape from the 9-5...nobody wants to hear the hard truths. Process based thinking over an outcome based approach all day! Great video M.
Agreed! Thanks Steve 🙏
8 years in the game and I can vouch that everything you said is true. Well said brother.
Thank you 👊👊
Living under means is defiantly 🔑
Absolutely - couldn't agree more!
Good video. You are one of of the few traders who tell things exactly how they are. Please make more videos, like 2/week :) Thanks
Appreciate this! Thank you. Yes, trying to increase content heading into next year!
I’ve been trading for 12 years - it took me 3 years to become consistent…..even with 12 years in the game I still spend masses of time testing, analysing data and practicing. I think maybe the only reason I succeed was because I’m a software engineer, many of the skills I’ve gained in my work helped me in my trading.
I have spent thousands of hours (not an exaggeration) on learning my craft and working on myself - but even with all that, trading is hard. It’s one of the reasons why much of my trading is now automated, by various tools I’ve written over the years. Even after 12 years I still have the capacity to make dumb trading decisions, it’s a constant battle.
Oh for sure & completely agree on your profession being a benefit. Plus it's in your DNA to be curious in that respect and for things to be methodical and tested. Glad to hear it's working well for you man!
Great video Matt, good to see you back! I think the 90% failure rate is an interesting one because I think largely people come into the industry thinking it’s easy money and a get rich quick scheme without really understanding what they’re getting in to and who they’re going up against when they trade the markets, and therefore get burnt very quickly, end up quitting and getting put in that 90% failure bracket. I wonder how many people who stick at it for years and approach it with some degree of rationale and thought-out strategy fail, I’d imagine probably closer to 90% of those people actually succeed over the long term.
Thanks Ben! Agreed - I think the same applies for most things too. If people don't see immediate results, it's straight in the bin and onto the next!
Wow, great video as always and a much needed one Matt - between instagram posts showing profits, and ease of accessing prop firms, 'education materials' and what not, it is easy to overlook how actually difficult trading is. Especially the time, schedules, skill, mindsets and a slew of other things that one needs to be ready to change their life around. Glad to see some real truths being put out there - much appreciated!
Also, great video quality - the colors, and the frame look great!
Thanks Sashank! Appreciate this 🙏 Glad you're getting something from the content!
Wow Matt, this was what I needed to hear and thank you to help me not only with my skills and chart analysis but to really understand that tradeing is not just an escape from a 9 to 5 job or a quick financial gain. Its a life style and I am fully commited that I can be a day trader for the rest of my life. Today I took my first loss of the week and I felt emotion maturity as I know that take some losses is part of the game as my win rate is 60% so those 40% losses has to pop up now and then, I havent got spooked this time. Watching this video made me realised something I was kind of figuring out by myself slowly that I need to work on my expectations and to get better on all fronts of trading and to not rush the proces.
Glad to hear it Bruno! You're on the right track man! It's a journey of self discovery - that's for sure!!
Great video
Thank you 🙏
I have been trading Stocks and Futures and thats hard. so you're right about that. Is Forex harder than Stocks of Futures? I know its more confusing because you have all the different numbers to calculate and you indicated that you traded well with the indices idoing better than with the FX Pairs in your Pareto video. Are there recommended funding programs for indices, can you do those with FTMO and the other programs you've used?
Lovely video Matt. STRAIGHT UP FACTS!!!!
Thanks Mona! 🙌
Totally AGREED...
🙏🙏
Such a good video
Cheers Steve!
Straight hard facts 💯
🙌
I think the 90% figure is misleading, its likely because 90% dabble/gamble and give up before really trying to learn. Its like saying 99% of people fail at football because they never make money at it. Its an accurate figure but misleading. That 90% that failed never were traders to begin with, yeah they downloaded MT4, and yeah they took some trades, but they never became traders, they never really tried
Yeah it's a fair point. Though by people playing football and not making money from it, is far different from playing football and losing money from it.
I think the same applies to any industry right? You can't become a lawyer without attending a Law degree but then very few make it to the heights that they initially intended or dreamed of despite studying for 6+ years and trying to get there.
I agree that if you were to be able to isolate people who have structured their education in trading and been consistent with improvements (without peaks and troughs) for a year or two, then you would find they stand a higher chance of succeeding than someone who doesn't and this would bring the success rate higher than 10%. But I still think it would be a minority.
I mean the purpose of this video wasn't necessarily intended for the people who are already that way inclined (like you by the sounds of it). It was more in response to comments I've got that were essentially infereing I was overlooking how hard trading was/trying to make it sound easy on this channel.
This video was to put into perspective a few points to do with relative difficulty.
What happened to your million pound challenge?
What about fxcm and global prime broker they also offer trading view platform
Yeah never tried them personally
@@MatttoMillion what about em
100%
🙏🙏
why is that very forex trader has a UA-cam channel🤔
Maybe it's their devilishly good looks?
Great video
Thank you 🙏