Are You Wasting Your Time With Your Trading? [Pareto Principle / 80-20 Rule] (Thought of the Day)
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- Опубліковано 5 жов 2024
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In this video we discuss how some small changes can have a disproportionately big impact on our results.
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TRADING TRUTHS
Are you wasting or mis-allocating your time with your trading? In this video we discuss how some small changes can have a disproportionately big impact on our results. This is all about the 80-20 rule (the Pareto principle)
Presented by Nicholas Puri
▶️Watch more Trading 'Thought of the Day' Videos: • Mental Toughness in Tr...
Great points man! I've been spending the majority of my time this year working on my psychology and self-understanding and self-discipline/consistency, and that has improved my trading far more than studying setups or strategies or searching for opportunities obsessively. Obviously strategy development is important, but I reached a point where I realized that it wasn't my strategy that was the problem haha. Great advice :)
I think it would be the same for most people, but it takes a good amount of self-awareness to realise it and try to fix it!
- Nicholas
Nicholas
Excellent advise. Normally one doesn't hold oneself accountable for how the day was spent. I will start auditing how much time I devoted to non-productive crap and will cut it out. Thank you bro.
Really wanted to hear this . This is really Great Thank you
Big fan here. Thanks for all the invaluable knowledge.
I really enjoy your videos. Excellent classes on trading and on life.
I love this video. Is there any video you have where you teach about how to do fundamental analysis. Please share the link if you do.
Great video. Love your lessons.
Just as it really got interesting, you stopped:D You're not rambling like some say. It's always quality!
Haha I appreciate you saying so. If I let myself keep going I’d be there all night!
- Nicholas
Many thanks for your videos, really invaluable information. The market selection course is very useful.
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I'm so irritated with myself for not trusting my own ideas. Cz often I'd hear something from YT that I had already thought of then I use YT to confirm my ideas... Thanks for helping me with this realisation cz the staff you're talking about I've been thinking about but some I give a pass... Great video as always Nic
I don't trust any UA-cam trader who flashes their Lamborghini or roses in the background!
Seriously, great video as always. Thanks :)
your maker selection service is amazing! LOVE IT.
Hi, Good question, I think 90% of the Retaile Trader do not know what they are donig and they are just waisting their Time, But I order to get it right you have to Waist time, Time is a Key Element in all the topics you want to Master, Thank That was good
Good info and thoughts on trading. Thank you for sharing. I was waiting to hear you mention practice / back-testing as a good way to spend time on improving trading skills. I guess it wasn't on the list of topics to talk about today. may be next time. Thanks again for taking the time to share your thoughts.
Or like in automotive - 80% of defects are from 20% of the problems on the operations areas - good correlation ;)!
Hey Nicholas, I just tried signing up for your 4 part mini series but after typing my email I got an error page. Would like to try it again when it is working! Thanks for the awesome free info. Cheers
YOUr Examples are good to hear.. It was all good.
Thanks!
- Nicholas
The 80/20 rule he is talking about is the "pareto principal" If anyone ilwant to know more, check some videos. Great content as always, thank you!
I'm spending 80% of my trading day trying to fix problems with my charting software because it sucks so much!
Anyway.... how many people are in the forum who have taken the course?
helping everyone is like puring sand in a open hand.. you are a very humble person , for me you are a male Linda Raschke :D and i think there is also something dangerous from helping people when they dotn deserve it = you steal from them the oportuinity to solve the problem on there own , and thats whats succesful traders(human beoings in general) are made from.... and thats why i love your vids , you are talking about a problem in such a way that i have to figure the solutuion out by myself . But i personally think its a mistake to answer the emails of each noob
Some nuggets here. Thanks for the exposition.
I definitely neglect my range trading! I find it too difficult and instead tell myself to spend time trying to just get my trending market skills to a decent standard and then focus fully on range trading. Even though I know it's probably the wrong mentality, I still struggle to break the habit!
Can you do a video about overtrading, ive realised there arent very many videos about that online, thanks a bunch
Amazing view.
Really help
I only trade one market and that is the Nasdaq Futures. Every time I try to trade something else I fail miserably. So I just trade Nasdaq futures...until it stops working no need to change.
This was very useful information!!
it is true , i personally trade only one scenario on my chart ( i am a renko trader) and when i break the rule or i go for the second trade in a day i got rekt . i believe that taking more then 1 trade a day is already overtrading if you are a day trader .
Is it okay to trade 11 pairs as a newbie ??
so on point, as usual
Hi bro, what's your opinion on creating your own ea for autotrading? Do you think it's a good idea?
If anything I need to cut down my trading. I always get wiped out in Tokyo and funnily enough, earn 80% of my income in NYSE session ( taking into account the day's losses).
Quality information
ah wah suh wid apple ah microsoft my ting deh
How much time should i be in the screen trading?
20mins a day trading. Couple hours studying
Awesome video bro as always👍👍👍👍👍👍👍👍👍👍👍👍👍 if I be honest I don't know where to start actually I was learning to trade Forex little bit more than 2 years then I jump two options and now I'm in between options Forex Stokes and stock options so now I try to find which one suits me better because with Forex seems like everything what I do I keep losing money and I don't know where is this problem coming from!
Choose one market. Forex or option. Then focus on one pair... It could be EURUSD, or gold, or usdzar.. just one pair then apply your strategy with money management n trade.... Do it for one month
I really like trading (crypto currency) but my minisucle capital, makes me feel like I'm wasting time. I might make a really good trade and get 2~8% but the profit is less than a Happy meal. But if I put much more in it would make me an ineffective trader(the thought of losing would mess with the psychology of trading)
Hopefully learning from now will help when I can just throw 10k down and not worry about it
@@duanerackham9567 hey its been 3 years, how are you doing now?
@@koteswarris8949 I was in college at the time 😅. I still trade occasionally, but I find buying and holding is the best strategy, especially for someone working a regular day job as I do now. I've diversified into stocks and have a much better position size now. I'm glad I was getting these lessons early. Time in the market over timing the market.
Anyone reading this: Slow and steady, invest in companies and projects you believe in and use. DCA in and hold. Have a small amount for the risky plays and watch your cash balance for the dips. Good luck to everyone
WOW.
80% of my loss comes from 20% of my folio.
Help
I am moderating a Facebook group with 20,000+ members. I enjoy it. But I have switched off the chat. Otherwise, I would be deluged with vain messages and would have an army of haters when I would not respond.
should i stop drinking etc then?!
Read Van K Tharp's works.
I totally wasted my time, after 3 years of study and a lot of practice I came out with a good strategy based on scalping and hedging that allowed me to have discrete monthly income with a limited investment. Now that they made these regulations on leverage in Europe to use my strategy I should have at least 100,000 € in my trading account.
First :)
A bit like my sex life it's always over in 2 minutes
😂
should i stop drinking etc then?!