How to identify a trading edge & the realistic path of a trader | Adam Grimes
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- Опубліковано 23 січ 2016
- EP 021: Adam Grimes explains how to identify a trading edge & gives a realistic breakdown of ‘the path to becoming a trader’
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These interviews are worth more than 5 years at University. Thank you very much for sharing
Hugo Simons so true!
So freaking true.
Many countries are not well known about this trading business but if u are new we can still help you.
Btc trading is the Best💰💰💰💰💰💰
Lol😂😂😂.
It's daunting how very true this is
I just started watching this I hope I feel the same. :)
My biggest game changer is when I stopped lying to myself. Cut your losses. I’ve spent months being bullish on shit I bought too high and then was stuck bag holding while lying to myself that it will go up. Cut your loss it will change the way you think. If you can’t access cash then you can’t make money. Always take profits and scale into positions. If it goes against your plans cut it leave it and come back. Most times I’ve done this I’ve come back and make almost perfect entry by letting it come to me instead of thinking you know the trend. Just my thoughts after changing my life the last few months. Great interviews btw.
The most valuable point in Adam's sharing is his (and as a trader, in general) experience on the Path to becoming an independent trader, on how one would ride the ups and downs, and when would the trader be most vulnerable (eg. after just made a series of winning, or when trying to scale up).
Thanks Adam for his sharing!
And thanks Aaron for being a great host.
Not every host has both the intelligence and patience.
Aaron is one of the few brilliant 👏
One of the best things that Aaron does is not interrupt a traders thought flow and just let's its flow like water, words flow off a traders tongue. big difference between TV talking heads and Aaron's interviews
This guy is talking reality. I believe that if something he says causes you some discomfort, you will find he was right, if you stick around long enough. On the other hand, the things he is saying are comforting to those of us who have gone through what he says will actually happen to everyone just starting out. Well done.
Spot on by the guest! I’m a.16 year full time trader. Took me 5 years to break even after suffering big loss in 1st year. “Learn to be a trader yourself”. Is such great advice! Thank you very much Aaron for your channel!
You started trading @11?
@@shivam.p2461 Not age, but years in trading.
...the first sign of success is that you stop losing money - not necessarily making money, but you stop funding your account with more deposits - once you have reached that stage, you are in the 'elite' of people who tried to learn how to trade and actually made it through the most difficult phase - so very very true !!! Great interview.
so, always keep tight stops?
Well, I'm funding my account more slowly now so I guess I'm on the right path. Even had a few green weeks, but gave it all back smh
This was a very good interview. I have gone through my shares of learning from the market and having an edge and controlling your risk is paramount to being a consistent & profitable trader. I wholeheartedly agree that when you stop adding/transferring money into your account to keep it going, that you have reached a milestone and have turned the corner on your equity curve. I have gone through more “boom and bust” cycles than I care to share. I have lost several fortunes (hundred of thousands) and then had to work back up from the pits of hell to do it again and again to see myself do the boom/bust cycle again. It wasn’t until I found Mark Douglas that I was able to discover my underlying issues for my repeated failures. I wish you all luck with your individual journeys in trading. Enjoy learning and discover what works for you. Take good care!
lots of brilliant people has been interviewed here, this guy I think is one of the top 10, great interview!
damian duran i agree👌🏾
@ 40:00 talks about edge... HAVING AN EDGE OVER RANDOM. It can be a pattern or intuition or fundamentals. (also, Basic understanding of Probability.)
Cheers mate.
Thanks.
Great
You are not going to learn how to trade,you are going to become a trader! So wise.
You've had a lot of great speakers on this podcast, and this one particularly resonates with me. Thanks for taking the time to interview Adam Grimes. Look forward to more quality podcasts!
I completely agree with what he said about only really needing one time frame. Only using one time frame helps prevent you from closing a trade too early during a pullback. Many times I have closed trades too early for them to go right back in my favor.
Two time frames is perfect.
One to find setups and one higher TF to confirm direction of long term trend.
Aaron, best interviewer with best guests! You’re a STAR! 👍
This is Definitely my favourite Podcast.. Aaron Fifield is doing a great service to all Traders with varying degrees of experience. The great Traders' Mindset is on full display with this vehicle of excellence..
WOW... BLOW ME AWAY............................Just LOVED the INTERVIEW.. what a COOL CAT..... An ALL OUT REAL and very DEEP EXPERIENCE---Taking a JOURNEY with ADAM as he outlines each phase of his development as a trader.... a Comprenhensive account of what it takes to be a successful trader.. ..............THANK YOU BOTH for SHARING... Really felt a CONNECTION!!
This is some of the best advice I’ve ever heard, and I’ve watched a ton of videos
Listening to him clearly explain what is an edge as a fill up my spreadsheet and see that my approach "work but not that well" is just about the biggest booster i need right now
What a beautiful conversation it is, it feels like having years of learning
Thank you for this.
R9r9f9goh(o m
This is my second time listening to this and I will probably listen again in the future.
Second time here also, such value.
Exactly 🔛🔛🔛🔛🔛🔛
Adam Grims excellent explanation of finding an edge it really sounds informative. Thank you Chat with traders. Keep it up.
Love these videos. You're doing the world a favour Aaron!
Adam Thank you so much for your program. I like your interview style
above anybody because you ask questions and let them finish their thoughts so we can listen to them and you ask the most relevant questions every single time. Really enjoy your show.
Great content. Gives a very interesting perspective. Thank you very much for this interview.
Love these videos, Adam. Great insight, listening to some of the best traders in the world. These Great traders, have also had, their fair share of ups and downs - Just proves, yet again, we have to sort out our Phychology issues, before we can reach the Top!
Best interview I've seen so far. The game is all about statistics
Such a great episode, came back to it after an year
Great interview. Thank you Adam, and thank you Aaron.
Aaron, I have been listening to your channel for a little over a month now and really enjoy sitting down and listening to your interviews. This one, in particular, is one of my favorites. Adam has so many gems of wisdom and honesty in this interview that really resonate with me. Just wanted to say thank you for this one, and please keep up the good work! Also, are you going to be offering shirts again any time soon!? Would definitely love to get my hands on a couple. Cheers!
+Trent Cleveland, really great to hear you clicked with what Adam had to share. Will likely do another run of tees at some point, just not sure when. To stay in the loop, you're best to subscribe here: chatwithtraders.com/subscribe - thanks!
Aaron, thanks for the reply. I"ll be sure to subscribe today and keep in touch. Keep up the great work! Chat soon!
Excellent information and analysis keep up the good work
Hey Aaron, beautiful work here. One wish is for all this interview to have a transcript. Then I can read and re-read the important points shared. cos they are too awesome to miss.
this guy is the real deal...... powerful truths ---relating trading to challenges in life
awesome wat you are doing here Aaron. so good to hear the experience from different traders! and i really like the work you put in to it to get is all this info from these traders for free :) thanks!
+sjoerd hof no trouble man, thanks heaps for listening! Note, episodes are released here before they're on UA-cam: chatwithtraders.com/podcast
Man that was grate interview i rely got a lot out of it and repeated listing to many of patches from it ... please keep it up.
Listening this podcast in 2022
It's kinda reality of trading the way we think of trading
Btw love from India🇮🇳
Thanks a lot Adam and Thanks a lot Aaron. I think this was a very good discussion. One more book sold to me now. Vineet
This guy was some real talk. Prescient timing, as I've just discovered what I think is a strategy that might be working for me and it fills me with fear that it might be a fluke, or luck or whatever. But I have no choice but to press on with it and refine and tweak it then test it over time and in different market conditions. I'm sure I'll learn lessons along the way... better than sitting and staring at charts just "wondering" what I should really be doing.
This guy is so right , very transparent great trading journey of his.
Lots of interesting philosophical trading advice. Thanks
Mind will see patterns in randomness-good quote
I have never traded but I find this information is applicable to many aspects of life.
thank you....very good interview
I'm going to be sad and happy at the same time when I finally listen to every one of these
Great content on this channel!
love his honesty thank you
Brilliant interview
Best interview yet
Good
General
1. Systems
2. Process: Consistency, Sizing, Breath, & Sophistication
3. Mental States
All you have to know is the interst rates, yields on bonds, especially 10 year bonds, relative to 200 day moving average, pick the best stocks in any sector you want to trade, use 3 technical tools in your trading and really pay attention and know when to EXIT your trade, for profit or loss BEFORE you place a trade. Be disciplined about it.
That's it, you'll make money in the long run !!
Thank u aaron for this platform
Hey Aaaron. Thanks for the upload bruh. Please get Wayne Mcdonell and Quillian Black on your show
Omgeeee yes get Cue Banks
Really helpful information..
Great interview.
Great advise to learn not to loose money first. I will put a reminder sticker on my computer.
+Ksenia Asatryan thanks for listening, I'm pleased this was helpful.
Philosophical & Brilliance 🎁
An insightful interview. One of the main messages here is for traders to understand the concept of probability and have faith in your strategy if it has a statistically proven rate of more wins over losses. Strategies are not difficult to devise but very hard to trade with discipline. Finally strategies should be very simple to follow. Beware of fitting technical indicators to work with your strategy.
+Forex Knowledge Academy, nice summary! Thanks for listenin'
Do you still trade?
The Game is to stay in the Game first and for most
Thank you!
Thanks Aaron !!
This is a gem... so many tips is insane... also to the idiots on the comments section: please don’t change, your actions fund our profits.
He taught himself calculus on his free time! Freaking boss!
thank you!
9:00 ,, What was the thing you was struggling a lot in the beginning? ‘’ -> ,,Being under capitalized’’ I think this is a pretty good thing as a beginner other wise you would blow accounts faster than you would loose money in Las Vegas.
"art and science" is one of my favorite books
1:06:00 the best advice! thanks!
Thanks!
This man sounds exactly like Mark Douglas, great stuff.
34:34 onward 🔥🔥🔥🤯🤯🤯
Pretty good interview Aaron..
Only 10 min in and i love this one
This guy is great
I enjoy your interviews! Do interview anyone who is not trying to sell a book or program?
Thanks
He was right about the time it takes. I'm a good 5 years in but 2.5 of those were really interrupted tbh
At 52:19 what was the difference between learning to trade and price action trading?
Aaron good afternoon.
Please add subtitles to this video.
Thanks in advance.
P.S. It's all for the same to watch with translation in a foreign language.
Great point that all analyses consider the past, never the future. It is so silly that people stress that past results may not correlate with future results. That's true with everything: weather, cooking, and trading. Yet, people denigrate analysis on this basis.
Das mit dem meditieren ist eine gute Sache, funktioniert auch in Deutschland.
I am always amazed by how perfectly Adam Grimes describes trading. This guy really has it worked out.
very very nice
do you only cover stock trading? What about Forex?
- EXCELLENTE • SUPERBO • TOP-NOTCH - #AdamGrimes #ChatWithTraders #AaronFifield
51:35 15 minutes is the best.. But I keep a spare one of 3 mins. So 3 & 15 minutes is the best for Daytrading. I am a strict daytrader.
awsome!
+vincent uhlke thanks!
14:20 how to limit your risk, single share of stock.. Good suggestion
35:00 chart
Ken Roberts? I bought the same course. Ended up getting a real job. Paper charts and dial up modems. Those were the days my friend.
Yes. 3:22. Bought that course.
Trading like is fishing with live or cut bait,make sure ur at the right place at the right time or ur gonna run out of bait with no fish to go home with.
Good amount to start with is zero. You start demo, prove you profitable for 6 months or a year then check how much percentage you grow the account then you will find out how much money you need, start trading with real money using the same strategy you used on the demo account without deviation. That's the right answer
if they say psychology, rather than knowledge is the most important component to successful trading, how can you put 3-5 years is about how long before you start making consistent profits or break even
Adam Grimes is legit
I think the perception traders have of different styles of trading other than there own is interesting. Adam made a comment about day traders sitting in front a computer all day but I hear day traders saying the same thing about swing traders. Perception is a funny thing
21:01 The equally honest interview after Anand Sanghvi .....both should join hands. It would be magnificent. 26:40
These interviews beats reading a book
Great interview. Just wondering why 50,000 is such a perfect number to trade with and not just 1000 to learn and become consistent, and then 25,000 when you are a profitable trader by a good amount (to rid of the PDT)
Thought the same. I started with 5k
Probably because he didn't do a lot of scalping?
Personally I don’t get why more people don’t just use demo till their consistent then take on prop firm funding and maybe use the profits to fund a personal account
undercapitalised ! absolutely one of the biggest problems when trading - you need adequate capital to allow positions to play out
Second interview I have heard with this guy. I don't think there will be a third. I feel completely black pilled. We get it. This is impossible and people should give up!
Hahaha and did you?
@@ryuxfx52 No, not given up. I have 20 Excel sheets with backtests. It shows quite much anything should be proitable. The problem has been that you get into losing streaks of 9 losses or more after one another. So now I an adding indicators to filter out losing trades. Job almost done so I can start live trading very soon now. Then they say that it is 90 % psychology to trading. I just don't belive that. Pure lie. I have tested exactly how many pips profitable trades go over a year. How often can I expect a trade to go 200-300 pips (not very often)? What happens if I don't use a stop (quite often one would be fine. The few times it goes wrong it will just kill your account). I have tested what happens if it reaches 90 % to my target and then reverses. Will it go to stop or will it come back? I have experienced a good strategy collapsing and starting losing 90 % of the time. You just stop using that strategy or you flip it and use it the other way.
In short. If you take trading seriously. Test, journal and review (statistics). Then I think you will be fine.
40:40 basically answers the question
42:45 also
He got most of his ideas from Fooled by Randomness. It's a good book.
Thanks! I'll ready it
And the guy who wrote it was a trader
is adam correct saying saying need at least $50,000 to start with or 3-5 years experience before becoming profitable or break even ?????????????????????????????
I think he means living off of it. The amount of time needed is highly individual, and depends on the time and devotion you give to it. The learning curve can be shortened with a mentor.
Minute chart pocket option account down in 3 days. Wrong investment lane nice interview
aaron u r simply super mam
+Prasad Naga - hah, too kind! Thanks.