Having watched so many traders on youtube, I've realized that every trader is different and everyone has their own way. Something might work for one trader brilliantly but the same thing may be disastrous for another. This I suppose is a big reason that trading is so difficult. Every trader NEEDS to find for himself what works best for him. And anyone who is perseverant WILL eventually find their way. I guess this is what trading edge is. Every trader has his own.
I wish I'd seen this video when I started trading - I may have saved myself a year or two of pain! Great job in explaining an important concept. For me, proper trade management and knowing when to do what without second guessing yourself was the key to put my trading on the right path.
🔹 Get FREE access to the Duomo Trader Development Program: duomotrading.com/FreeDuomoTraining 🔹 Add us on Instagram: instagram.com/duomoinitiative/ 🔹 Our second channel for financial news and analysis: ua-cam.com/users/MarketMoversFinancialNewsandAnalysis
Awesome video! I've watched a lot of your videos and I think this one really gets to the heart of the subject. I love how your method-agnostic approach applies so much to my particular method. Please keep doing more in-depth videos and if the videos are longer that would be great too. Maybe I need to pony up and just learn the Duomo method?
Wow this is so cool. I used to be a setup-based trader, but wasn't a profitable trader. Now I am a context based trader, I am starting to make a little bit of money. Now I just found your channel with the same method!
Thank you Nicholas. I am from Hong Kong and learning to trade. I like all your videos, and I am still going through them. Your explanation is crystal clear and your approach is very logical, so it makes us easier to follow. I love to see more videos from you in the future. Wish you well and all the best to you!
Yeah, I'm still confused, but understood most of it... It's like interacting with charts... Asking questions and talking answers... I don't know if I said this or not... But I've watched many videos in the past few days, with all that having a different approach... And it became frustrating when I heard that every other method is wrong and this one is right... So I decided to follow one trading guide, and it's this channel... Why? Because it has consistency and is relatively easy to understand, presentations aren't boring. So I don't lose my focus... Sure there are many things that I still have yet to learn... But in due time :)
I'm still a Newby. Watched all your videos uptill this one. Some things still go past me, but this concept was completely clear! Well explained. Thanks
Context based trading is a game changer. You can get way better entries and exits, your strategy gets way more dynamic, it's a win if you know how to pull it off right.
I just found this channel yesterday and I have not watched this video yet but the 2 videos I watched last night on psychology were probably the best ones I have ever seen! Unfortunately I made a mistake and broke the law. I spent 4.5 years in prison during that time I read over 300 books. I have now been trading for years. So between the two I have an incredible amount of knowledge. I can say confidently the information they are providing is top notch! Thank You!
I am not like those people. The constant obsession with evaluating my rational for anything and everything people kept hating on me for is paying off in my trading life. And I agree with the flaws you point out in common strategies. That's why my stop-loss is in a position where if the stock were to move there, the candle pattern it creates no longer qualifies as reliable enough for my strategy, and my take-profit develops on-the-fly, with backup take-profit signals.
i respect very much your sincerity and how you communicate real and truthful info on how things work within the realm of trading online financial markets thumbs up and keep it coming
Of course all of this makes sense, and the reason why you don't see peoples actions matching their statements, like you said, is, because I believe they get too hung up on their initial setup. And here comes my question: If I take a trade with a good or high R:R and then, halfway there, start to make decisions based on context, which may or may not be correct, doesn't it cut into the whole reason why I took the trade in the first place? I often see trades that I took, not reaching my targets, where I think it may turn around now. And often times I am right about that. So the correct thing to do at that point in time would be to close or even reverse the trade. But if I start doing that, I destroy the overall R:R of my strategy, because I never let trades play out as planned. Not saying that either one is right or wrong. It could easily be the case that letting trades play out is the wrong thing to do in some cases and I end up with a loss or a breakeven trade, instead of a win. So yeah, many things make sense in trading. The art of it is to fugure out how to make the correct decision at the right time.
That’s why we use something called the TMP (trade move potential) for our R:R calculations. It’s the nearest realistic obstacle for the price (you can think of it as your next decision point. So our R:R estimates are always based on worst case scenario. The actual R:R ends up being better than that, but it’s a way to make sure your trading would be profitable even with a worst case.
I am sorry, out-of-context. Have you ever take the MBTI personality test? I just want to know what is your type since it's talking about how our brain works (intuitive/sensing, thinking/feeling, perceiving/judging). The reason I ask this because I really like your perspective about the market.
Ideally you get stopped out before the value of the ocean cruise stock goes down too much and don't end up handcuffed to a bad position. What I see now in the US markets is a loss of logic - irrational trader behaviour. Poor stocks rally because some web site says so. A big disconnect between value and stock prices.
@@Duomoinitiative i am also good sir whenever i feel down in my trading journey i just visit your channel and revisit some of my favourite videos which help me out with my mind getting divert and love your work nicholas sir wanted to learn from you in real time but i know it isn't possible as i am from India still learning and grinding from 2 years and i am at breakeven just struggling to get in profit zone but i m sure i will make it and hope one day i can get a chance to meet you and thank you for all your works and effort for us, It really help me alot in my trading journey.. Love from India
People, please just listen to what I have to say. The following is a cop and pasted text of a comment I just made for another video on another channel: At the end of the day the only good way to trade is to do the opposite of losing traders. Forget all these fundamental analysis trash, you’ll never predict things ahead of the world in the long run without big institutional help (thousands of AI robots and intelligent humans) unless you focus on a handful of things, which is dumb, its limiting your opportunities of ever becoming filthy wealthy. I create losing systems and do the exact opposite of them. Like a random number generator (1-10 means down) (11-20 means up) and just do the opposite of what it does, but ensure your fees and commission costs are 1-2% of total price movement per trade on average. I have used this strategy for 3 years and I expect to grow 20% every month (1,000% a year with momentum) because I have been. But i only trade futures and forex (10x-30x leverage) so 20% a month is nothing, it’s only like 1% profit a month profit of the underlying asset, essentially 12% a year, like the big hedge funds.. I perform the exact same as them. I’ve simulated 1000’s of trades with that dumb system to do the opposite of. Average w= $405 and average loss = $335, guess what? Out of 50,000 simulations I have a 48.8% win rate, huge win for me. Just look at my channel, I have a $500,000 condo, $400,000 home, $300,000 in watches and $150,000 in SUV’s, all debt free. My tier 2 TD account is only $65,000 right now but guess what? I’ve bought everything I need and I only need $5k a month to live my life. The market is a two sided coin, losers, winners, if you do the opposite of winners and fees are 2% for both of you, you’ll make about 96% of the money they lost. I am tracking 50 futures contracts al day everyday, and 65 or so currency pairs, I am essentially tracking / monitoring / doing the exact opposite of 115 low IQ traders at once.... i will be the wealthiest person here in San Diego within 10 years, it literary can’t go tits up ;) I can be worth $800,000,000 filling $40,000,000 futures trades (worth $ 1 billion) and still be a drop in a pool because in the forex and futures markets $45 trillion is traded a day.... my positions are on average 3 days... i can be a billionaire and go unnoticed. You can’t do this with stocks, you’ll become so big that large orders you fill will make a huge impact in stock activity, making big splashes ina small pool. It’s not smart to try and be a multi billionaire in stocks, do it in forex and futures and you’ll go unnoticed, no one will be out to take you down because they don’t even know you exist. If you’re reading this, yes you just took advice from a literal millionaire, but that’s for you to either take or leave it, I don’t care, back to going on with my life. I love this channel for its humor and I never shared my strategy on YT until now, thanks Ben for the humor. Believe me I have an IQ of 124 and I was studying trading since high school day in and day out since 2014. I finally threw in the towel in 2018 and realized all my intelligence and ideas would never perform as good as simply doing the opposite of losing subjects (losing systems, or losing people) the entire financial markets are dependent on doing the opposite of losing traders. Mathematically that’s the only way for big firms to make money, to take money from losing traders, thus they’re on average doing the opposite of losing retail traders most of the time. I realized what I need to do is just the same thing they do, and that’s what they do. That’s why every American broker or big firm like Goldman Sachs does the exact opposite of all their clients, 90% of them lose money... might not be true for sophisticated clients of big banks like goldman but it’s certainly true for my broker TD ameritrade. The fundamental reason why my system works is because you’re essentially betting against two things happening in a row (thousands of random number generator trade decisions to most of the time be the same as the financial markets activity) it’s mathematically impossible. Overtime the random number generator has to be wrong (most of the time) than what the market will do, it’s so simple. It’s like gathering 150 dumb idiots in a room telling them to trade, and doing the opposite of them, with fees at a very minimal insignificant level, you’ll make money forever. My future firm will be filled with homeless people for ideas, no I am not kidding.
Having watched so many traders on youtube, I've realized that every trader is different and everyone has their own way. Something might work for one trader brilliantly but the same thing may be disastrous for another. This I suppose is a big reason that trading is so difficult. Every trader NEEDS to find for himself what works best for him. And anyone who is perseverant WILL eventually find their way. I guess this is what trading edge is. Every trader has his own.
That's because the candlesticks tell the story. Not the bs
I wish I'd seen this video when I started trading - I may have saved myself a year or two of pain! Great job in explaining an important concept. For me, proper trade management and knowing when to do what without second guessing yourself was the key to put my trading on the right path.
Your instructional videos on trading are by far the best I’ve watched over the past 10 years. Beginning traders should follow your advice’
There's a mistake at 16:00, it should say "It's likely that I'd want to trade outcome 2"
Thanks for clarifying that, I was like you sure? haha
It's rare for me to come across a channel where I feel comfortable clicking like before I even watched the whole video.
This would have to be the best video I have seen on context and probability and which I have taken so many notes on. Thank you for sharing.
Thanks Aaron!
~ Nicholas
Perfect as always👏
🏁 Can we just appreciate the energy behind the explanation!
🔹 Get FREE access to the Duomo Trader Development Program: duomotrading.com/FreeDuomoTraining
🔹 Add us on Instagram: instagram.com/duomoinitiative/
🔹 Our second channel for financial news and analysis: ua-cam.com/users/MarketMoversFinancialNewsandAnalysis
Awesome video! I've watched a lot of your videos and I think this one really gets to the heart of the subject. I love how your method-agnostic approach applies so much to my particular method. Please keep doing more in-depth videos and if the videos are longer that would be great too. Maybe I need to pony up and just learn the Duomo method?
Wow this is so cool. I used to be a setup-based trader, but wasn't a profitable trader. Now I am a context based trader, I am starting to make a little bit of money. Now I just found your channel with the same method!
Very educative, I'm really glad I found this channel love every bit of ur video
I love u to emphasize on timeframe too thanks
Thank you Nicholas. I am from Hong Kong and learning to trade. I like all your videos, and I am still going through them. Your explanation is crystal clear and your approach is very logical, so it makes us easier to follow. I love to see more videos from you in the future. Wish you well and all the best to you!
ive been looking for ways to quantify the probability of my trades...this vid is helping me get my head around it.
Yeah, I'm still confused, but understood most of it... It's like interacting with charts... Asking questions and talking answers...
I don't know if I said this or not...
But I've watched many videos in the past few days, with all that having a different approach... And it became frustrating when I heard that every other method is wrong and this one is right...
So I decided to follow one trading guide, and it's this channel... Why?
Because it has consistency and is relatively easy to understand, presentations aren't boring. So I don't lose my focus...
Sure there are many things that I still have yet to learn... But in due time :)
I'm still a Newby. Watched all your videos uptill this one. Some things still go past me, but this concept was completely clear! Well explained. Thanks
Context based trading is a game changer. You can get way better entries and exits, your strategy gets way more dynamic, it's a win if you know how to pull it off right.
I just found this channel yesterday and I have not watched this video yet but the 2 videos I watched last night on psychology were probably the best ones I have ever seen! Unfortunately I made a mistake and broke the law. I spent 4.5 years in prison during that time I read over 300 books. I have now been trading for years. So between the two I have an incredible amount of knowledge. I can say confidently the information they are providing is top notch! Thank You!
Highest quality content and presentation on trading iv seen on youtube sir ! salut !
Glad you're recovered from covid. I work in films and get tested 3 times a week before going on set.
how is it possible to dislike this video. Highest quality i've seen on youtube
checkout also Wysetrade channel on YT, also top level content
Such an informative video! Thank you so much for sharing your knowledge with us
A real eye opener in a very clear way to explain it
I am not like those people.
The constant obsession with evaluating my rational for anything and everything people kept hating on me for is paying off in my trading life.
And I agree with the flaws you point out in common strategies. That's why my stop-loss is in a position where if the stock were to move there, the candle pattern it creates no longer qualifies as reliable enough for my strategy, and my take-profit develops on-the-fly, with backup take-profit signals.
Brilliant Information as always!
Cheers Josh!
i respect very much your sincerity and how you communicate real and truthful info on how things work within the realm of trading online financial markets thumbs up and keep it coming
I really get sleepy watching ur videos.
they r full of wisdom
Process based improvement. Sooo good!! Well done
Okay, good video and quite valuable. Thank you sir! I subscribed.
I love how you explained this, thanks a lot 🗣️❤️
Very clear to understand. Thank you 🙏🏿
Mind opening and very helpful to put things into perspective when trading.
Absolutely amazing
Thank you!
Just by adding this context based action plan to any strategy it will clearly improve my trading!
you have opened my eyes
This perspective is definitely a strategy worth implementing , thanks
Thank you man, you are so good
Absolutely great video. Hits my weakness spot on - and no it's not that hard to understanding - it makes perfektly sence BR Gilbert
Such a gentleman. ✨✅
Thanks for the video!
Of course all of this makes sense, and the reason why you don't see peoples actions matching their statements, like you said, is, because I believe they get too hung up on their initial setup. And here comes my question: If I take a trade with a good or high R:R and then, halfway there, start to make decisions based on context, which may or may not be correct, doesn't it cut into the whole reason why I took the trade in the first place?
I often see trades that I took, not reaching my targets, where I think it may turn around now. And often times I am right about that. So the correct thing to do at that point in time would be to close or even reverse the trade. But if I start doing that, I destroy the overall R:R of my strategy, because I never let trades play out as planned.
Not saying that either one is right or wrong. It could easily be the case that letting trades play out is the wrong thing to do in some cases and I end up with a loss or a breakeven trade, instead of a win.
So yeah, many things make sense in trading. The art of it is to fugure out how to make the correct decision at the right time.
That’s why we use something called the TMP (trade move potential) for our R:R calculations. It’s the nearest realistic obstacle for the price (you can think of it as your next decision point. So our R:R estimates are always based on worst case scenario. The actual R:R ends up being better than that, but it’s a way to make sure your trading would be profitable even with a worst case.
Hello, I see that Duomo course is no longer taking students. It is possible to come to an arrangement where you accept another student?
Sir plsss make video on Mr Steve Cohen in trading legends 😍😍😘😘😘lots of love from India sir🥰
Thank you for the information.
More examples please!
Great content
Thanks Quinton!
Mannn this defo is going to help me to not take profits too early
Spot on.
I am sorry, out-of-context. Have you ever take the MBTI personality test?
I just want to know what is your type since it's talking about how our brain works (intuitive/sensing, thinking/feeling, perceiving/judging).
The reason I ask this because I really like your perspective about the market.
bro do you trade in cfd? Any opinion about reading cfds
I think trading using CFDs can be fine as long as you're using a good reputable broker.
- Nicholas
Thanks for vídeo.
If you choose not to decide, you still have made a choice
Are you living in UK?
Yes.
~ Nicholas
@@Duomoinitiative I heard your nice voice and realize that. Haha
Ideally you get stopped out before the value of the ocean cruise stock goes down too much and don't end up handcuffed to a bad position.
What I see now in the US markets is a loss of logic - irrational trader behaviour. Poor stocks rally because some web site says so. A big disconnect between value and stock prices.
21:30 Fake breakeouts
Hello sir how are you?
Good Yash, how are you?
@@Duomoinitiative i am also good sir whenever i feel down in my trading journey i just visit your channel and revisit some of my favourite videos which help me out with my mind getting divert and love your work nicholas sir wanted to learn from you in real time but i know it isn't possible as i am from India still learning and grinding from 2 years and i am at breakeven just struggling to get in profit zone but i m sure i will make it and hope one day i can get a chance to meet you and thank you for all your works and effort for us, It really help me alot in my trading journey..
Love from India
UNDER 100 GANG
🙌
People, please just listen to what I have to say. The following is a cop and pasted text of a comment I just made for another video on another channel:
At the end of the day the only good way to trade is to do the opposite of losing traders. Forget all these fundamental analysis trash, you’ll never predict things ahead of the world in the long run without big institutional help (thousands of AI robots and intelligent humans) unless you focus on a handful of things, which is dumb, its limiting your opportunities of ever becoming filthy wealthy. I create losing systems and do the exact opposite of them. Like a random number generator (1-10 means down) (11-20 means up) and just do the opposite of what it does, but ensure your fees and commission costs are 1-2% of total price movement per trade on average. I have used this strategy for 3 years and I expect to grow 20% every month (1,000% a year with momentum) because I have been. But i only trade futures and forex (10x-30x leverage) so 20% a month is nothing, it’s only like 1% profit a month profit of the underlying asset, essentially 12% a year, like the big hedge funds.. I perform the exact same as them. I’ve simulated 1000’s of trades with that dumb system to do the opposite of. Average w= $405 and average loss = $335, guess what? Out of 50,000 simulations I have a 48.8% win rate, huge win for me. Just look at my channel, I have a $500,000 condo, $400,000 home, $300,000 in watches and $150,000 in SUV’s, all debt free. My tier 2 TD account is only $65,000 right now but guess what? I’ve bought everything I need and I only need $5k a month to live my life. The market is a two sided coin, losers, winners, if you do the opposite of winners and fees are 2% for both of you, you’ll make about 96% of the money they lost. I am tracking 50 futures contracts al day everyday, and 65 or so currency pairs, I am essentially tracking / monitoring / doing the exact opposite of 115 low IQ traders at once.... i will be the wealthiest person here in San Diego within 10 years, it literary can’t go tits up ;) I can be worth $800,000,000 filling $40,000,000 futures trades (worth $ 1 billion) and still be a drop in a pool because in the forex and futures markets $45 trillion is traded a day.... my positions are on average 3 days... i can be a billionaire and go unnoticed. You can’t do this with stocks, you’ll become so big that large orders you fill will make a huge impact in stock activity, making big splashes ina small pool. It’s not smart to try and be a multi billionaire in stocks, do it in forex and futures and you’ll go unnoticed, no one will be out to take you down because they don’t even know you exist. If you’re reading this, yes you just took advice from a literal millionaire, but that’s for you to either take or leave it, I don’t care, back to going on with my life. I love this channel for its humor and I never shared my strategy on YT until now, thanks Ben for the humor. Believe me I have an IQ of 124 and I was studying trading since high school day in and day out since 2014. I finally threw in the towel in 2018 and realized all my intelligence and ideas would never perform as good as simply doing the opposite of losing subjects (losing systems, or losing people) the entire financial markets are dependent on doing the opposite of losing traders. Mathematically that’s the only way for big firms to make money, to take money from losing traders, thus they’re on average doing the opposite of losing retail traders most of the time. I realized what I need to do is just the same thing they do, and that’s what they do. That’s why every American broker or big firm like Goldman Sachs does the exact opposite of all their clients, 90% of them lose money... might not be true for sophisticated clients of big banks like goldman but it’s certainly true for my broker TD ameritrade. The fundamental reason why my system works is because you’re essentially betting against two things happening in a row (thousands of random number generator trade decisions to most of the time be the same as the financial markets activity) it’s mathematically impossible. Overtime the random number generator has to be wrong (most of the time) than what the market will do, it’s so simple. It’s like gathering 150 dumb idiots in a room telling them to trade, and doing the opposite of them, with fees at a very minimal insignificant level, you’ll make money forever. My future firm will be filled with homeless people for ideas, no I am not kidding.
i would honestly hear u out lol