This is Why Exiting Trades Can be So Difficult

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  • Опубліковано 29 жов 2024

КОМЕНТАРІ • 74

  • @kylewonglee7724
    @kylewonglee7724 8 років тому +25

    I have that tendency of waiting for that little bit more and then it's just reverses and goes against me :( that has changed now , never again...maybe

    • @Duomoinitiative
      @Duomoinitiative  8 років тому +4

      It's a tough habit to try and change, when you reach that situation again it's always tempting to think "maybe this time will be different!" but hopefully you'll at least be a bit more aware about the thought process now.

    • @bringerOFhappiness11
      @bringerOFhappiness11 6 років тому

      Kyle Wong Lee I

  • @jcrockett870
    @jcrockett870 7 років тому +8

    What I do is exit a trade when it meets my target...Or when I start to feel shitty about the trade.

  • @alexanderbalazs4226
    @alexanderbalazs4226 5 років тому +1

    Having a plan in place helps a lot. One will not go broke by taking full or partial profits at key levels.

  • @salaha954
    @salaha954 8 років тому +7

    wow, such a creative and dope analogy 👌🏾

  • @OneTradeMan
    @OneTradeMan 6 років тому +1

    Great video, I have struggled with Framing. It's something that I'm aware of and try not to submit to, but your explanation is elucidating.

    • @Duomoinitiative
      @Duomoinitiative  6 років тому

      I think most people do! The first step is being aware of it (which most people don't even get to), now comes the tough bit of trying to work on it.
      - Nicholas

  • @PhilipVels
    @PhilipVels 6 років тому +4

    This is one of the most important videos

  • @Duomoinitiative
    @Duomoinitiative  5 років тому

    🔹 Get FREE access to the Duomo Trader Development Program: duomotrading.com/FreeDuomoTraining
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  • @GhostGuitars
    @GhostGuitars 7 років тому +15

    I would have grabbed the 74k hell yeah

  • @aluisious
    @aluisious 7 років тому

    Great video. I had this situation today with two trades, iron butterflies sold before earnings announcements for CRM and LOW. CRM was great, it opened nearly flat, so I closed it out ASAP and pocketed most of the maximum gain. Turns out later in the day it actually repeatedly hit max gain, but if I knew the future, well I wouldn't have problems.
    LOW gapped down on a below expectation result, I closed the calls cheaply, and waited for a fade back towards the previous close. I've noticed this repeatedly when a stock gaps down on a surprise. It didn't snap up at all, and started trailing even further down. This was distressing..."I used to have that money. I saw the balance in my account." I held longer to see what it would do. It came back mostly to where it had been and I closed then (for a loss on LOW, but a good profit for the day) reasoning "I am only holding this because I want the loss to go away, but if someone presented me this position as a new trade right now, I wouldn't take it." Which seems pretty rational, but somehow the fact that I was making a profit over the two trades made it easier. Otherwise I wait and let it play out a bit.
    Later in the day LOW came back up partly and it would have been a profitable trade. Oh well. If I knew the future...

  • @mrsatan2078
    @mrsatan2078 4 роки тому

    9:31 - "I'm on this game show only once, I might as well make the most of it" -> Turns down guaranteed 6k for 50/50 shot at 10k...don't squander a lead for an all-in small chance, don't get emotional
    11:14 - after losing huge, ADJUST FRAMING - don't make big ball plays to gain it all back. Breathe. Shift your goal smaller (lower position/exposure) and focus on what you have remaining; build from a solid base not a lofty one
    14:30 - "House Money Effect" - taking bigger risk when playing with profits (house money/free money)

  • @ryanlemieux3323
    @ryanlemieux3323 6 років тому +1

    Spot on... great video as usual!

  • @NizabPawan
    @NizabPawan Рік тому

    very helpfull...want an example in trading which relate to deal or no deal example

  • @Gia_Java
    @Gia_Java 6 років тому +3

    what an awesome channel!!! amazing!!!

  • @MrMatipid
    @MrMatipid 7 років тому

    The dilemma is using a trailing stop to exit your trade vs setting target prices. I have used target prices and ended up missing
    out substantial profits. It is a double edge sword and you have to make a decision either way! If you made substantial profits then, it is not too bad!

  • @benjaminchyau
    @benjaminchyau 8 років тому

    all your videos are so insightful. thank you!

  • @cristianmicu
    @cristianmicu 5 років тому +2

    nicholas, if you know a book that deals with these kind of choices and variations, and maybe the corresponding human bases in deal no deal i'd like to know the title/author, because im sure this thing affects a lot of traders end results and mine as well
    ty
    that was a super entertaining video ;)
    edit: i googled behavioral economics and found the books

  • @JanMactest
    @JanMactest 7 років тому

    Really great video! You should do more of these videos

  • @bobbyp7955
    @bobbyp7955 8 років тому

    Interesting perspective , Thanks for your hard work

  • @matthewhodgson4447
    @matthewhodgson4447 4 роки тому

    In the scenario when you have five cases there is only one way to guarantee a higher offer from the bank. And that is to have your own case contain the 500k. And when there is five cases left there is a 20% that the players case contains the 500k. So that means 80% of the time you are better off taking the bankers offer.

  • @marksoberay2318
    @marksoberay2318 4 роки тому

    Excellent channel and video

  • @Cnc1073
    @Cnc1073 5 років тому

    What an amazing video. I've been trading for a very short period of time but all of this already makes sense. Thanks for the help

  • @cydery
    @cydery 5 років тому +1

    Oh boy, does sound so real

  • @joychatterjee2025
    @joychatterjee2025 5 років тому

    Great explanation, thanks.

  • @CindyBarrymore
    @CindyBarrymore 5 років тому

    Please link to Part 2.

  • @강상구-t5v
    @강상구-t5v 8 років тому

    I love it!. Now I wanna go to dance although no deal is not good that moment.

  • @blackbirdx7777
    @blackbirdx7777 4 роки тому

    so when do you exit a trade anyways?

  • @NOL1FEK1NG
    @NOL1FEK1NG 8 років тому +1

    Love this stuff. ...

  • @SkyFortressDamocles
    @SkyFortressDamocles 7 років тому +2

    Great video man

  • @THERESAPARTYINMYHEAD
    @THERESAPARTYINMYHEAD 7 років тому

    Excellent work!

  • @jollymarvaldez2619
    @jollymarvaldez2619 8 років тому

    what are the brokers do you suggest?? im new to forex.

    • @Duomoinitiative
      @Duomoinitiative  8 років тому +1

      We try to stay impartial with brokers and not recommend any specific ones. However, you should be able to find a list online of approved brokers which are regulated by the FCA (in the UK) or other major regulators. That's a good place to start. If you need an opinion on any specific brokers, send us an email at contactduomo@duomoinitiative.com

  • @tradingespanol5384
    @tradingespanol5384 4 роки тому

    Your gold Nick.. Gold I tell you!

  • @trentmsteel
    @trentmsteel 4 роки тому

    Would you exit a wining trading that is giving you profit and has not hit your stop loss? I personally don't think you should ever exit as long as it is giving you profit.

    • @Duomoinitiative
      @Duomoinitiative  4 роки тому

      If there is a strong enough reason to think it’s hit a strong path of resistance and is unlikely to proceed, or if there is some additional risk event coming up.

    • @trentmsteel
      @trentmsteel 4 роки тому

      @@Duomoinitiative Does your trading strategy methodology compatible with trading stocks?

  • @Strrroke
    @Strrroke 8 років тому +2

    Aw, the percentage increases. I missed that part when read your email ... doh

  • @usynnstradler
    @usynnstradler 7 років тому

    You said scenario number 2 twice??

  • @ashfaqsir5646
    @ashfaqsir5646 6 років тому

    nice videos but put some slides or animations would be better

  • @masudahmed6029
    @masudahmed6029 8 років тому

    Hi nicholas please could you make a video on trading cryptocurencies as this is this has a big hype at the moment

  • @JibasJr
    @JibasJr 8 років тому

    I understand that one would take the 75k in the show however I believe that if you take profits before they reach your predefined most probable level consistenly, you'll end up making less money in the long run. Nonetheless I normally move my stop loss to profit, taking into consideration my evolving risk to reward (trying to keep as much profit without reducing too much the likelihood of hitting my original target).

    • @Duomoinitiative
      @Duomoinitiative  8 років тому +1

      In my opinion, it's ok to change your target as long as it's for the right reasons. If you're moving it because you're getting worried and want to exit the trade to have something certain - that's the wrong reason.
      However, not moving your target can sometimes be a mistake. Every time the price moves, the overall landscape in the market is changing. The situation and probabilities could be very different from when you entered your trade. Your target when entering is just to assess whether the trade is viable and after that point you need to keep assessing where the correct place to exit is based on the facts you have at that moment in time. That can sometimes mean having a more profitable OR a less profitable target.

    • @douchenozzle3217
      @douchenozzle3217 7 років тому

      JibasJr and you're right. i've run a lot of simulations with a random walk model that showed me conclusively that taking partial profits is one of the great pitfalls you can step into. remember "lett your winners ride and cut your losses short". most traders don't know how to implement this gold advice and thats why they're never profitabel. but the solution is simple: place a trailing stop. i don't use take profits.

  • @just_ashgamingyt7775
    @just_ashgamingyt7775 6 років тому

    I really working on a demo few years now , now im realy confident with my system after many years of testing,my only problem now how i can find a reliable broker,pls help me on this matter

  • @강상구-t5v
    @강상구-t5v 8 років тому

    WOW my answer is there! You understanded that, despite of my poor english!
    (OoO)

  • @start662
    @start662 6 років тому

    I'd take the 50k at the start of round 5 tbf

  • @sactemp777
    @sactemp777 7 років тому

    Interesting...

  • @brilwiljeff
    @brilwiljeff 5 років тому

    It could be said the player lost nothing and had nothing at risk.

  • @guyredares
    @guyredares 6 років тому

    i enjoyed the story

  • @gp5
    @gp5 7 років тому

    Shit, you described me :-/ I really need to stop this, I’ve made profit trading but just trying to get that extra bit of money puts me in an ugly spot.

  • @anonymouswolf2473
    @anonymouswolf2473 5 років тому

    Its very interesting video 😅😅😅😅😅

  • @AlexWinkler
    @AlexWinkler 5 років тому

    haha good fun that video

  • @26yearoldboomer7
    @26yearoldboomer7 4 роки тому

    Smart as fuck killer content

  • @Lunkyful
    @Lunkyful 7 років тому +1

    I would of taken the €52,000

  • @kookokooko-xg5uo
    @kookokooko-xg5uo 3 роки тому

    DUDE YOU ARE SO COOL

  • @nilaychatterjee4607
    @nilaychatterjee4607 7 років тому

    how was susan very very lucky if it was 50/50

    • @JayMayKnow
      @JayMayKnow 7 років тому

      Because she won 50.000 extra. She increased her profit with 1/5 instead of losing 1/5.

  • @boitshepotema4239
    @boitshepotema4239 4 роки тому

    2020 🤘🏾📊🇿🇦

  • @locomotivere4497
    @locomotivere4497 4 роки тому

    deal

  • @ruthshada2752
    @ruthshada2752 6 років тому +2

    Deal or No Deal 😂😂😂