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I completely agree! I think its hard for new traders because if the setup isn't there that day, they may find something else to try and trade. Then they lose money and think "Trading is too hard, it isn't for me." The best thing I found was to find something else you can do to make money. I started a furniture store where I open after I'm done trading in the morning. This gives me something to focus on instead of trying to find another trade or another strategy just so I can be in a trade. New traders feel like they aren't making progress unless they're in a trade and that's dangerous to your account! He is COMPLETELY RIGHT! Find a strategy that works for you and stick to it. You don't necessarily need all the screens or indicators to make money trading. But you do need a strategy that you like, can see clearly when the setup is there, and remember sometimes no trade is the best trade.
Probably the BEST advice you have ever given to new/developing traders....(and you give TONS) I also tried to be a jack of all trades - and Master to none for a long time. Got traction, then lost it, got it back again, lost it - a vicious circle I could not break. Nowadays a trade one single setup in one single market - and it works WONDERS. I trade the EURUSD 5min and see the setup INSTANTLY when it appears, because that is all I am looking for. Thanks so much for all you do here; I started binge watching you years back, and still watch all your content even if I am now full time. Sort of like ¨checking back in with you¨since you were a very important lifeline in my journey. CHEERS!
Sound advice. Doesn't just go for trading, but goes for life in general. My dad always taught me growing up to see things through. If your mind and attention is fragmented you can't possibly reach your maximum potential in one area.
Such common sense. I trade the ES. I had stumbled into an open strat that was working just fine. Then I thought I should try something more dynamic. Big mistake. Lost and Lost and Lost. Went back and took a while to strap back in and settle in on the previous candle range. I think its all in what your mind starts to recognize. Regardless; its all price action. No magic indicators. The Magic 8 Ball works better. Thanks Mark.
Sounds great but how much are you prepared to lose if your daily target is 10 pips? I am trading with a negative 1:4 RR ratio but those inevitable bigger losses have eroded my confidence, even if overall I am profitable (so far).
I think other than money management that committing to and perfecting your strategy is the main issue with all traders, new the markets or not Im gonna commit to the spot market and one type of strategy
The missing indicator is the gut. Once the competence and experience is there and you're confident then the gut is the final thing. What Mark is saying makes everything work faster and with less stress. Personally I focus on the emini.
Great advice, been at this years and in the last 2 I've settled upon the S&P es mini futures.. Once you spend enough time with a single market I swear you develop a feel for its "personality". That ontop of whatever proven edge you're using is powerful.
I decide to commit to follow my trading plan which is to trade one pair | one session | one trade per day at market open and set SL & TP. Close computer screen and move on to my day.
Mark, I have taken your advice from when I started trading futures in January. I was profitable from month 1 and then went way backwards and recovered back to profitability in the past 6 weeks. I only trade /NQ, with an occasional spotting of /YM. Your videos are excellent and have really helped me in terms of organizing my trading, and being patient (sometimes).
Watch your videos everyday + i signed for your program as well and i have to say, my trading skills got much better! I realized its a long journey and i started to look at trading in a different(better) way and understand price much better! thanks to you mate 🤙🏼
I solemnly swear in the name of God that I will adhere to my trading plan with discipline and consistency. this oath I declare due to my struggle in committing to the consistency of my Trade Plan. I swear in the name of God that I will not move my trading Stop Loss, except if this setup broke my equity Portfolio, then I will rectify and modify this setup. I also swear that if I engage in multiple transactions (more than 1 pair), the correlation must be below 60 for risk diversification and to prevent risk exposure.
Thanks for this video Mark, you just answered a big question I had yesterday. I am commenting to a trade setup I found and tested, for 40 trades starting Monday 15th of July!
This is just what I needed to see right now. I’ve tried to narrow things down to 6 markets across 3 strategies and still find myself jumping around a bunch. The most difficult thing is patients while waiting for your setup. Time to narrow down further and focus.
I for one could listen for hours to Mark talking about his trading career. I know he's talked in the past about the 3 o'clock buying binge that used to happen on some FTSE stocks, taking the index up...eventually he narrowed it down to a few stocks
Whatever you trade , in every field in commerce , the rule is simple : its cheap you buy - its expensive you sell ! Stop trading in short timeframes and you dont have to trade every day , of course.Wait patiently and take only trades in big and important levels , in daily or weekly charts , and you wont have any problem with your trading . Needs patience ..................
The is one of the best way to success in this high risk market. I start in this market though a very bad broker that make me losses a lot of money buy pushing me to trad too many currencies and too many Stocks. The results was losses all the money in my account.
Does anybody else find the idea forming part is the most difficult? When you talked about how you found an edge after observing markets at the right conditions, then traded until that edge fizzled out then started the whole process again I find that so difficult. Because it takes a lot of research to come up to an idea that is profitable. Also if the edge has only become an edge recently then historical backtests would be useless. Can someone help me with this. The idea forming phase. How do we find inefficiencies and create strategies around them.
I've been considering all of the money I spent on day trading fees and iits approaching 200k for the year. I'm profitable, but find my losers are on these unexpected rallys, where my bias is short. I honestly wonder if I would have made a lot more money if I just stayed in positions for several days, and don't pay attention to the up days. Day trading vs. position trading in futures? I also trade without stops, having tried stops. I found I'm better off to allow a huge run against me, so I also need to let my winners run longer...hence postion trading. Thoughts?
I commit trading DOUBLE TOP & DOUBLE BOTTOM on H4 Time frame, after 4 years of losing and dissappointment, i tried almost every strategy and i lost, by the problem was not the strategies or the Markets, but the problem is me not commiting and picking up one Strategy and mastering it 😂😂😂😂
👉 Trade with our Sponsor Broker: Trade Nation www.financial-spread-betting.com/ccount/click.php?id=95 Trade sensibly! 81.7% of retail investors lose money.
👉 We are seeking more contributors who can produce great video educational content about trading for our channel. If you think you have what it takes please get in touch by sending a message to traderATfinancial-spread-betting.com (remove the AT and substitute by @).
👉 It seems a lot of our viewers are non-subscribers. Make sure to subscribe to our youtube channel as we upload regular videos! If you hit the “Bell” icon (🔔) you will receive a notification on youtube every time that we upload a video on our channel. Bell icon hitters are super fans of our channel 🥰
I completely agree! I think its hard for new traders because if the setup isn't there that day, they may find something else to try and trade. Then they lose money and think "Trading is too hard, it isn't for me."
The best thing I found was to find something else you can do to make money. I started a furniture store where I open after I'm done trading in the morning. This gives me something to focus on instead of trying to find another trade or another strategy just so I can be in a trade.
New traders feel like they aren't making progress unless they're in a trade and that's dangerous to your account!
He is COMPLETELY RIGHT!
Find a strategy that works for you and stick to it. You don't necessarily need all the screens or indicators to make money trading. But you do need a strategy that you like, can see clearly when the setup is there, and remember sometimes no trade is the best trade.
Probably the BEST advice you have ever given to new/developing traders....(and you give TONS)
I also tried to be a jack of all trades - and Master to none for a long time.
Got traction, then lost it, got it back again, lost it - a vicious circle I could not break.
Nowadays a trade one single setup in one single market - and it works WONDERS.
I trade the EURUSD 5min and see the setup INSTANTLY when it appears, because that is all I am looking for.
Thanks so much for all you do here; I started binge watching you years back, and still watch all your content even if I am now full time. Sort of like ¨checking back in with you¨since you were a very important lifeline in my journey.
CHEERS!
Sound advice. Doesn't just go for trading, but goes for life in general. My dad always taught me growing up to see things through. If your mind and attention is fragmented you can't possibly reach your maximum potential in one area.
Also: One thing I have learned the hard way is let The Setup come to me!!!! Don't chase it !!!
Great video. Once I concentrated on 2 stocks with my scanners running to catch that outlier as "a side bet" i became consistently profitable.
Such common sense. I trade the ES. I had stumbled into an open strat that was working just fine. Then I thought I should try something more
dynamic. Big mistake. Lost and Lost and Lost. Went back and took a while to strap back in and settle in on the previous candle range. I think
its all in what your mind starts to recognize. Regardless; its all price action. No magic indicators. The Magic 8 Ball works better. Thanks Mark.
10 pips a day at gbpjpy, gbpusd,gbpaud, trading key levels at higher time frame committed. one trade only.
Sounds great but how much are you prepared to lose if your daily target is 10 pips? I am trading with a negative 1:4 RR ratio but those inevitable bigger losses have eroded my confidence, even if overall I am profitable (so far).
I think other than money management that committing to and perfecting your strategy is the main issue with all traders, new the markets or not
Im gonna commit to the spot market and one type of strategy
Man you are a true professional. Not too much fanfare, no messing around just to the point.
I decided to commit and simplify my methodolody. Am finding myself thinking so clearly now and things are looking up so rapidly.
Truly the best advice I've heard during my trading period thank you. From Iran
I trade two commodities:
1.) WTI Crude Oil on Wednesdays.
2.) Copper.
The missing indicator is the gut. Once the competence and experience is there and you're confident then the gut is the final thing. What Mark is saying makes everything work faster and with less stress. Personally I focus on the emini.
this guy explained the holy grail of trading in just 10mins video 👌🙏💥
Committed
Thanks,you nailed it.
Great advice, been at this years and in the last 2 I've settled upon the S&P es mini futures.. Once you spend enough time with a single market I swear you develop a feel for its "personality". That ontop of whatever proven edge you're using is powerful.
I really needed to hear this. Thank you for providing guidance! It is now time to commit!!
I decide to commit to follow my trading plan which is to trade one pair | one session | one trade per day at market open and set SL & TP. Close computer screen and move on to my day.
Thank you 🙏 I’ve already committed and can see consistency.
I'm committing to trading momentum plays on the GER30 for the next 30 days
I’m going to commit to top down supply and demand analysis on indices and forex. Boom.
Committed to trading US3 using a Divergence strategy for 30 days !!!!
I am committing to US30 counter trendline breakouts. Thanks for your advice
And yet again some really good advice..... Many thanks....👍
In point with this gold and oil same me.
Mark, I have taken your advice from when I started trading futures in January. I was profitable from month 1 and then went way backwards and recovered back to profitability in the past 6 weeks. I only trade /NQ, with an occasional spotting of /YM. Your videos are excellent and have really helped me in terms of organizing my trading, and being patient (sometimes).
I’m committing to trading GBPJPY for the next 30 days
Thanks a lot for your awesome video.
Watch your videos everyday + i signed for your program as well and i have to say, my trading skills got much better! I realized its a long journey and i started to look at trading in a different(better) way and understand price much better!
thanks to you mate 🤙🏼
I did that a Long time ago. First I traded DOW, but now NQ100, because it is easier.
Sometimes VWAP mean reversal, if not trend days.
In what way do you think its easier ?
I will be committing to two currency pairs … usd/cad and Gbpaud. With two strategies.
I solemnly swear in the name of God that I will adhere to my trading plan with discipline and consistency.
this oath I declare due to my struggle in committing to the consistency of my Trade Plan.
I swear in the name of God that I will not move my trading Stop Loss,
except if this setup broke my equity Portfolio, then I will rectify and modify this setup.
I also swear that if I engage in multiple transactions (more than 1 pair), the correlation must be below 60 for risk diversification and to prevent risk exposure.
Love your videos and energy. I have committed to trading NQ.
Thanks Mark solid advice
Awesome Advice! Totally agreed . It’s Great to hear a Professional commit and master one plan at a time.
This is not just trading advice, it's life advice. Thank you Mark ✨
Thanks for this video Mark, you just answered a big question I had yesterday. I am commenting to a trade setup I found and tested, for 40 trades starting Monday 15th of July!
Many heartfelt thanks to you for sharing your knowledge and experience.
Great advice.
This is just what I needed to see right now. I’ve tried to narrow things down to 6 markets across 3 strategies and still find myself jumping around a bunch. The most difficult thing is patients while waiting for your setup. Time to narrow down further and focus.
I for one could listen for hours to Mark talking about his trading career. I know he's talked in the past about the 3 o'clock buying binge that used to happen on some FTSE stocks, taking the index up...eventually he narrowed it down to a few stocks
Nice one Mark, 🙏🏻
Thanks for the precious information
Sir your videos are truly life changing for people like me who are struggling with trading 🙏thankyou so much
Greetings from India
I am committing to day trade gbpusd for 1 month trading break and retest based on key levels for 1 month
Whatever you trade , in every field in commerce , the rule is simple : its cheap you buy - its expensive you sell ! Stop trading in short timeframes and you dont have to trade every day , of course.Wait patiently and take only trades in big and important levels , in daily or weekly charts , and you wont have any problem with your trading . Needs patience ..................
The is one of the best way to success in this high risk market. I start in this market though a very bad broker that make me losses a lot of money buy pushing me to trad too many currencies and too many Stocks. The results was losses all the money in my account.
to add on this great advise is that it becomes so effortless to manage risk.
Thanks for the informative and insightful video loving it
Excellent
Thank u sir ❤
I'm commiting to trading a specfic market and a specific strategy.
i commited to trade only EUR/USD with support - resistance strategy only.
I commit trading only xauusd with my methode and i will trade with that until i master it
Do you trade in Indian Indices? NIFTY to be specific? Scalping in NIFTY. Need help in setting targets and SL in Indices.
I commit in trading usdjpy for 1year
Does anybody else find the idea forming part is the most difficult?
When you talked about how you found an edge after observing markets at the right conditions, then traded until that edge fizzled out then started the whole process again
I find that so difficult. Because it takes a lot of research to come up to an idea that is profitable. Also if the edge has only become an edge recently then historical backtests would be useless.
Can someone help me with this. The idea forming phase. How do we find inefficiencies and create strategies around them.
great video
I commit
Very great advice.
Going through this right now.
Commit to trade only AUDUSD for 3months
Whats ya strategy and timeframe on that pair Fabian ?
I've been considering all of the money I spent on day trading fees and iits approaching 200k for the year. I'm profitable, but find my losers are on these unexpected rallys, where my bias is short. I honestly wonder if I would have made a lot more money if I just stayed in positions for several days, and don't pay attention to the up days. Day trading vs. position trading in futures? I also trade without stops, having tried stops. I found I'm better off to allow a huge run against me, so I also need to let my winners run longer...hence postion trading. Thoughts?
I commit trading DOUBLE TOP & DOUBLE BOTTOM on H4 Time frame, after 4 years of losing and dissappointment, i tried almost every strategy and i lost, by the problem was not the strategies or the Markets, but the problem is me not commiting and picking up one Strategy and mastering it 😂😂😂😂
Hi Mark, may I ask one question? How to know the market is going to be a choppy market before losing money in choppy market condition. 😂
Check some of the material here please: ua-cam.com/users/ukspreadbettingsearch?query=identify%20choppy
@@ukspreadbetting Thank you Mark. And thank you so much for all the videos you make. I watch them every day.
First to comment ❤️🖤
Commit BTCUSD