I hit 7years on November 20th 2024. I did make 31% in the first 3weeks of December and ended up losing 23.5% of it from 23rd to the 27th. but finished 7.5% profit in December.. Not had a negative month for 2years, but my lowest return is 0.9% with my highest being 27%. I'm not married, have no kids, no flashy cars (2 door smart car), and don't like leaving my house. Mostly only come out 4 to 6 times a month. I just trade and play video games. I pay myself £3k a month and put the rest in my portfolio.. I live in London. Also, none of my family members knows that I trade or make a lot of money.. its peaceful that way. They think I just work remotely. (When I do tell them, I'll lie about my gross income) 2.4 million in Prop funding and 400k personal account.
I have 2 questions for you. In those 7 years, how long did it take you to become profitable? Does paying yourself 3k a month mean you make an average profit of 3k?
objectively a profitable trader is a person who can consistently pull money from the market, regardless of the account size, percentage gain or strategy. Everyone talking about a specific value gain but i will say a profitable trader is a mindset
and who trades for a living not needing to sell courses etc. Jesse Livermore and Paul Tudor Jones did not sell their courses, vice versa they hid their stuff. Many here is simply in the entertainment and education business where trading is just a hobby
As a day trader (or swing trader, depending on the market), achieving a 5-10% return is reasonable, including accounting for losses based on a risk of 1-2% per trade. I am based in the Philippines, where the exchange rate is approximately 50 to 1. This makes a monthly profit quite sufficient, even with just a 5% return per month.
Imo, there is no right answer to this question. Take what the market give everyday. Do not be greedy. Set a monthly target only. Trade specific session only so you will not overtrade. Be discipline, patience and consistency.
No, trade as many sessions as you want and your strategy allows you to ,trade as many instruments as you want , everyone's lives are different and strategies are different . My strategy and where I am in the world both allow me to trade all sessions , granted if I wake up a bit earlier for the Asian session, and my strategy works in all sessions so why would I leave opportunities, and over trading is different to everyone what might be over trading to you is not over trading to some other strategies
Take what the market gives you and setting a monthly target is conflicting. If you’re taking what the market gives you then your just going with the flow. If you’re setting a target then set the target and work towards it. 😊
Percentages don’t really mean anything I made 6R in December. So my percentage return only depends on what I’m willing to risk(5% per trade) or what follows my risk system. Basing risk on percentages of your account is useful if you want to play it extremely safe. Once you have enough data though you can just use standard deviations for the systems loss streaks. I use this to find a percent risk that falls outside the 3rd standard deviation For me that was 17 losses in a row. So I use 5% because in the eight years of my data I haven’t had a loss streak over 10. So to me your Return on risk is the only thing that could indicate your a good trader. 2R avg a month is really good.
that is why those youtube clowns always showing their $ PNL and never R. Those $$$ does not matter at all, unit of risk is all that matters compared to reward that's it
When traders say you should trade less than more I really wonder what they think about the central limit theorem and the law of large numbers. If you have an edge the more often you trade the edge is the more you get closer to the mean. I dont understand why people say you need to be like a casino and then contradict themselves by saying trade less. I have never seen a casino that shuts down for the day after 1-2 people have played. I just dont understand why many ignore or contradict the central limit theorem. Making minimal trades makes no difference to the distribution of future wins and losses so if a drawdown is going to come it will come whether you trade 10 times per day or 1 time per month so for me better to get it out of the way by trading often rather than trading less and ensuring lengthy periods of drawdown which then does all crazy things with ones psychology.
I think it's all boiled down two what kind of trader you are. In my opinion. There're just only 2 ways to win the market . First one is dicretionary trading ( trade with your gut feeling ), this kind of trader are common since in history many big names has used these stratergy, the market can not easily be explained or understanded through just some candles pattern or mechanical concepts found online. So I think to sucess in this path the only think required is experience with various market condition and develop the "skill" to predict future price movement. the second type i think that fast pace, utilize fractional movement in the martket is suitable, which many big investment firms use is quant trading. Basically with a team of hundreds of people specialized in Math, Finance and coding, working together to build an algorithm that can spot a really small " non random" moment in the market full of noise. With this competitive edge, they should be trying to trade more to utilize the edge they have. But unfortunately, this type of trading isn't accessible for the majority of retail traders So in the end, I think focusing on catching the movement of the market is better than worrying about frequency of trading, since big move occured in both scalping and swing trading Sorry for broken english
@@vuphungbuinguyen6369 Thank you for your useful response. If this is the case that lots of trades is really for quants then trading influencers should stop using the casino anaology when talking to retail traders because the casino analogy is not applicable to retail traders who are trying to catch a few good moves rather than trying to trade frequently to take advantage of the law of large numbers.
@ yes totally agree, plus the market is always changing based on behavior of participants, so the unpredictability really messed up with basically every “casino analogy” mechanical strategy, so retail traders without powerful quant algorithm literally can not use large numbers of trades on the same edge, they must change their edge suitable for the market conditions and try to catch the big moves, which is basically gut feeling trading
casinos have an edge, a person who pushing buttons randomly in the market has not edge, he is a gambler even when he is doing it under the law of large numbers
Yes. And you raise a good question...but... your edge has the best odds of giving you greatest risk reward at certain times of day...i.e....ny open...your 50/50 probability on right or wrong...but 3:1 on risk reward generally...meaning that edge only plays out under certain key circumstances...that are not present at all times of the market...the therom theroy does apply if youbtake that same trade 240ish times each trading day under the same circumstances only
What off bankers , they make about 100% per year. The have different categories of traders eg junior , senior trader .And the banks give them budgets to meet eg banks can give them about 1 mil to return 1.5 to 2 mil.
@@TraderNick I believe good traders are happy being consistent and making whatever they can , but great traders won't just settle for that , now there's nothing wrong with settling for that but you study the greats and you realize they weren't trying to be good traders they wanted to be great .. and they had crazy amount of returns yearly. But of course that like the top 0.5% of traders in the world that trade like that , while most profitable traders just settle for just making enough to be profitable every month.
Consistency. Consistency. Consistency. If you got that, you be a good trader. Percentages notwithstanding. Risk management is an absolutely vital component of being consistent, so I still define "good" trader as simply consistent trader. And by "consistent" i mean consistently profitable. At least for 2 years, I'd say. Same account. That's good evidence a person has a good thing going. 😼
hey nick...i would like to know your idea in my risk management..which i mostly look for 2-3% profit/month..but i have 7 other funded accounts that i trade using the same 2-3% profit monthly which when the profits are collected they are good..and my risk on my trades is low and i usually go for 2:1 RR.. what do you think...?
The only question that matters is are you profitable doing that ? Is your win rate high enough that you're not constantly stuck in break even . If so then what does it matter what anyone thinks If you're consistently profitable ?
I'm shooting for 3%+ a month with good months being 5%+ -My Darwin has gotten allocations 3X months in a row, activated a 5% 100K allocation and I already qualify for a fourth at 40K (plenty of month left to boost it or screw it up) - I just want 3% a month steady but I do all of my forecasts using 4.5% hoping for reasonable upside
You live in the U.S. and you say you have a capital problem? You only need $500 to trade 1 ES futures contract, which is huge leverage. Don't say you don't have a couple of thousand dollars that easily produce a nice average income. And "I don't want to size up, I am comfortable here" is also a kind of bs argument. Trading is a numbers game with probabilities, saying believe 50% probability tossing a coin risking 5$ but not trusting the same coin risking 500$ because "maybe probability is against me". Jesse Livermore and Paul Tudor Jones did not sell courses, they were traders, you are lifestyle promoters, education and entertainment business
Having availability to more leverage is not a quick fix. In fact, it's quite the opposite for most traders. Leverage magnifies your gains, but also your drawdowns. I've been trading the markets for many years, and have proven my results (check my UA-cam homepage for my 4 year brokerage login video). I am no Jesse Livermore, but I've lived through enough up and down markets to know that sizing DOWN is what keeps traders in the game, and sizing UP is what leads people off of a cliff they didn't know they were on. This topic often gets people upset because they don't want to hear that trading is not a quick path to riches, which I adamantly preach on my channel. Simple math will show you that even with a slight edge in your favor- significant losing streaks are inevitable to any trading style. Also, Paul Tudor Jones and Jesse Livermore were both heavy advocates for proper risk management and small risk per trade. Good luck in your journey!
So basically if i have a 1000$ account trading with proper risk management I’d expect to gain 5% profits only? Thats only 50 dollars per month. If so trading is a waste of time…
I discussed your comment exactly in this video. Personally I think if you don’t see the benefits of compounding slowly and aren’t absolutely passionate about markets, you’re probably better off doing something else. Trading is a great way to compound existing money, not generate massive new money from small amounts
It depends on the trader. I trade futures. I got 1k account and I risk $40-50 a trade for $90-100. I only trade 3 times a week. 2RR and I easily have 100-150 dollar weeks. It comes down to consistency and RR.
It depends what your edge is saying. If you are trading 20 trades per month having 50% winrate then mathematically it is wise to use 7-8 trades maxloss formula. So 8 riskunits loss per month is acceptable, so you can easily take over 10-15% not blowing off your account. Probability having 7-8 losses in a row in a month is so low, why would you want to waste your capital having only 5% per trade?
As a retail trader I think it's more important to come up with a plan/idea and to see it through with an accurate result. Profit comes down to experience and confidence.
I'm sorry I didn't catch the questions sooner because I'd like to have had my say lol🎉 But in any case, I have to say what a great video yet again Nick. Very interesting for me and I got a lot from it. I really enjoyed your subs views and your thinking too. I'd love to see more question posts in future so that you can go over later in the day (if you choose to), it's a winner! Thanks, brother!,👏🏽😍
Most "people" aka young people want to turn Day Trading into a day job lol salary pays of $50ks and $70ks but will work +12hr days staring at charts ? just get a regular job LOL .. Trading is for the few that risk and profit beyond their day job income levels.
5% per day... I think this is possible and also whats the point of trading if you dont make that kind of profit. Also I do it. Just so you know. If i had 500k so i can live from 1-2 % i would do something else.
5% per day ? If I had to guess you're not a profitable trader yet are you ? And don't put on a front , don't act , be honest cuz if you lie you still have to face the market and reality outside of UA-cam
@@kgosiking4228 Less then 5% i call long term investing not trading... I just tell you whats possible. And if you are not profitable, you shoud not repeat what your idols tell you. I dont need youtube chanel, software or online mentoring to sell, dont i? i MAKE I LIVING FROM TRADING lol
Depends on whether you're trading or investing For traders Anything between 5 and 20% per month should be standard anything more than that is gambling For investors Anything between 1% to 10% per month is phenomenal I'm not saying you can't make more than that... You can but that requires experience and skill which all comes with time The key is to figure out who you are and want you want from these markets.... Soo alot of self introspection is required
the real question is, Can you do 5 -20% per month? If you CAN'T then it can't be the standard, if you CAN then let us see your 1-3 years statement. and teach us. lol
Join our Telegram channel: t.me/+Im_hEOaCRtY5NTQx
Bro stories of you being a scam. Sup with that? Do a video on this.
I hit 7years on November 20th 2024.
I did make 31% in the first 3weeks of December and ended up losing 23.5% of it from 23rd to the 27th.
but finished 7.5% profit in December..
Not had a negative month for 2years, but my lowest return is 0.9% with my highest being 27%.
I'm not married, have no kids, no flashy cars (2 door smart car), and don't like leaving my house.
Mostly only come out 4 to 6 times a month. I just trade and play video games.
I pay myself £3k a month and put the rest in my portfolio.. I live in London.
Also, none of my family members knows that I trade or make a lot of money.. its peaceful that way.
They think I just work remotely. (When I do tell them, I'll lie about my gross income)
2.4 million in Prop funding and 400k personal account.
Amazing bro..this is how should be..
massive respect
i’m 100 hundred percent that is bull shit pal.
the very fact you suggest you have never had a negative month is literally impossible
I have 2 questions for you.
In those 7 years, how long did it take you to become profitable?
Does paying yourself 3k a month mean you make an average profit of 3k?
What prop firms do you trade om
objectively a profitable trader is a person who can consistently pull money from the market, regardless of the account size, percentage gain or strategy. Everyone talking about a specific value gain but i will say a profitable trader is a mindset
and who trades for a living not needing to sell courses etc. Jesse Livermore and Paul Tudor Jones did not sell their courses, vice versa they hid their stuff. Many here is simply in the entertainment and education business where trading is just a hobby
As a day trader (or swing trader, depending on the market), achieving a 5-10% return is reasonable, including accounting for losses based on a risk of 1-2% per trade. I am based in the Philippines, where the exchange rate is approximately 50 to 1. This makes a monthly profit quite sufficient, even with just a 5% return per month.
Imo, there is no right answer to this question. Take what the market give everyday. Do not be greedy. Set a monthly target only. Trade specific session only so you will not overtrade. Be discipline, patience and consistency.
"Take what the market gives you" that's actually not a good advise. Stick to your trading plan and experience
@@RickJuly of course, what i mean by take the market what it give to you is still following your rules and everything. Lol not blindly take trades
@@AbatsukiFXThis is wrong does not meter what market do,you have to make some money on average..
No, trade as many sessions as you want and your strategy allows you to ,trade as many instruments as you want , everyone's lives are different and strategies are different . My strategy and where I am in the world both allow me to trade all sessions , granted if I wake up a bit earlier for the Asian session, and my strategy works in all sessions so why would I leave opportunities, and over trading is different to everyone what might be over trading to you is not over trading to some other strategies
Take what the market gives you and setting a monthly target is conflicting. If you’re taking what the market gives you then your just going with the flow. If you’re setting a target then set the target and work towards it. 😊
I go off quarters and aim for 20% each quarter. It’s definitely risky and I’ll be pairing that back as my account grows.
Percentages don’t really mean anything I made 6R in December. So my percentage return only depends on what I’m willing to risk(5% per trade) or what follows my risk system. Basing risk on percentages of your account is useful if you want to play it extremely safe. Once you have enough data though you can just use standard deviations for the systems loss streaks. I use this to find a percent risk that falls outside the 3rd standard deviation For me that was 17 losses in a row. So I use 5% because in the eight years of my data I haven’t had a loss streak over 10. So to me your Return on risk is the only thing that could indicate your a good trader. 2R avg a month is really good.
that is why those youtube clowns always showing their $ PNL and never R. Those $$$ does not matter at all, unit of risk is all that matters compared to reward that's it
If you have a winning strategy and and good risk management I say ten percent is definitely a realistic goal
When traders say you should trade less than more I really wonder what they think about the central limit theorem and the law of large numbers. If you have an edge the more often you trade the edge is the more you get closer to the mean. I dont understand why people say you need to be like a casino and then contradict themselves by saying trade less. I have never seen a casino that shuts down for the day after 1-2 people have played. I just dont understand why many ignore or contradict the central limit theorem. Making minimal trades makes no difference to the distribution of future wins and losses so if a drawdown is going to come it will come whether you trade 10 times per day or 1 time per month so for me better to get it out of the way by trading often rather than trading less and ensuring lengthy periods of drawdown which then does all crazy things with ones psychology.
I think it's all boiled down two what kind of trader you are.
In my opinion. There're just only 2 ways to win the market . First one is dicretionary trading ( trade with your gut feeling ), this kind of trader are common since in history many big names has used these stratergy, the market can not easily be explained or understanded through just some candles pattern or mechanical concepts found online. So I think to sucess in this path the only think required is experience with various market condition and develop the "skill" to predict future price movement.
the second type i think that fast pace, utilize fractional movement in the martket is suitable, which many big investment firms use is quant trading. Basically with a team of hundreds of people specialized in Math, Finance and coding, working together to build an algorithm that can spot a really small " non random" moment in the market full of noise. With this competitive edge, they should be trying to trade more to utilize the edge they have. But unfortunately, this type of trading isn't accessible for the majority of retail traders
So in the end, I think focusing on catching the movement of the market is better than worrying about frequency of trading, since big move occured in both scalping and swing trading
Sorry for broken english
@@vuphungbuinguyen6369 Thank you for your useful response. If this is the case that lots of trades is really for quants then trading influencers should stop using the casino anaology when talking to retail traders because the casino analogy is not applicable to retail traders who are trying to catch a few good moves rather than trying to trade frequently to take advantage of the law of large numbers.
@ yes totally agree, plus the market is always changing based on behavior of participants, so the unpredictability really messed up with basically every “casino analogy” mechanical strategy, so retail traders without powerful quant algorithm literally can not use large numbers of trades on the same edge, they must change their edge suitable for the market conditions and try to catch the big moves, which is basically gut feeling trading
casinos have an edge, a person who pushing buttons randomly in the market has not edge, he is a gambler even when he is doing it under the law of large numbers
Yes. And you raise a good question...but... your edge has the best odds of giving you greatest risk reward at certain times of day...i.e....ny open...your 50/50 probability on right or wrong...but 3:1 on risk reward generally...meaning that edge only plays out under certain key circumstances...that are not present at all times of the market...the therom theroy does apply if youbtake that same trade 240ish times each trading day under the same circumstances only
For me, a good trader is one who shows his gearbox in his car while in dubai. Joke intended.
What off bankers , they make about 100% per year.
The have different categories of traders eg junior , senior trader .And the banks give them budgets to meet eg banks can give them about 1 mil to return 1.5 to 2 mil.
They do not make 100% per year
@@TraderNick I believe good traders are happy being consistent and making whatever they can , but great traders won't just settle for that , now there's nothing wrong with settling for that but you study the greats and you realize they weren't trying to be good traders they wanted to be great .. and they had crazy amount of returns yearly. But of course that like the top 0.5% of traders in the world that trade like that , while most profitable traders just settle for just making enough to be profitable every month.
@@TraderNick thanks for the clarification.
Consistency. Consistency. Consistency.
If you got that, you be a good trader. Percentages notwithstanding. Risk management is an absolutely vital component of being consistent, so I still define "good" trader as simply consistent trader. And by "consistent" i mean consistently profitable.
At least for 2 years, I'd say. Same account. That's good evidence a person has a good thing going. 😼
hey nick...i would like to know your idea in my risk management..which i mostly look for 2-3% profit/month..but i have 7 other funded accounts that i trade using the same 2-3% profit monthly which when the profits are collected they are good..and my risk on my trades is low and i usually go for 2:1 RR.. what do you think...?
What strategy u use bro thank you
The only question that matters is are you profitable doing that ? Is your win rate high enough that you're not constantly stuck in break even . If so then what does it matter what anyone thinks If you're consistently profitable ?
@@kgosiking4228 it's so hard to find a strategy that works cause market is changing very frequently
Me with 50 usd in account
30% per year? That's fair✌️
Haha frustrating truth about trading!
I'm shooting for 3%+ a month with good months being 5%+ -My Darwin has gotten allocations 3X months in a row, activated a 5% 100K allocation and I already qualify for a fourth at 40K (plenty of month left to boost it or screw it up) - I just want 3% a month steady but I do all of my forecasts using 4.5% hoping for reasonable upside
Pre watching this video im hoping Nick is going to boil the answer down to "well... it depends"...give the goods nick. Lol😂
In theory you could double your account in 1 month but there is like 33% chance it will blow
That XAI coin sounds like scam, invest at your own risks
Please will profitex payout , most time these prop firms pay only influencer traders and ban the unpopular people.
You live in the U.S. and you say you have a capital problem? You only need $500 to trade 1 ES futures contract, which is huge leverage. Don't say you don't have a couple of thousand dollars that easily produce a nice average income. And "I don't want to size up, I am comfortable here" is also a kind of bs argument. Trading is a numbers game with probabilities, saying believe 50% probability tossing a coin risking 5$ but not trusting the same coin risking 500$ because "maybe probability is against me". Jesse Livermore and Paul Tudor Jones did not sell courses, they were traders, you are lifestyle promoters, education and entertainment business
Having availability to more leverage is not a quick fix. In fact, it's quite the opposite for most traders. Leverage magnifies your gains, but also your drawdowns. I've been trading the markets for many years, and have proven my results (check my UA-cam homepage for my 4 year brokerage login video). I am no Jesse Livermore, but I've lived through enough up and down markets to know that sizing DOWN is what keeps traders in the game, and sizing UP is what leads people off of a cliff they didn't know they were on. This topic often gets people upset because they don't want to hear that trading is not a quick path to riches, which I adamantly preach on my channel. Simple math will show you that even with a slight edge in your favor- significant losing streaks are inevitable to any trading style. Also, Paul Tudor Jones and Jesse Livermore were both heavy advocates for proper risk management and small risk per trade. Good luck in your journey!
So basically if i have a 1000$ account trading with proper risk management I’d expect to gain 5% profits only? Thats only 50 dollars per month. If so trading is a waste of time…
I discussed your comment exactly in this video. Personally I think if you don’t see the benefits of compounding slowly and aren’t absolutely passionate about markets, you’re probably better off doing something else. Trading is a great way to compound existing money, not generate massive new money from small amounts
It depends on the trader. I trade futures. I got 1k account and I risk $40-50 a trade for $90-100. I only trade 3 times a week. 2RR and I easily have 100-150 dollar weeks. It comes down to consistency and RR.
It depends what your edge is saying. If you are trading 20 trades per month having 50% winrate then mathematically it is wise to use 7-8 trades maxloss formula. So 8 riskunits loss per month is acceptable, so you can easily take over 10-15% not blowing off your account. Probability having 7-8 losses in a row in a month is so low, why would you want to waste your capital having only 5% per trade?
If you're actually good enough to make 10% per month consistently; why would you need to share this with anyone?
As a retail trader I think it's more important to come up with a plan/idea and to see it through with an accurate result.
Profit comes down to experience and confidence.
I'm sorry I didn't catch the questions sooner because I'd like to have had my say lol🎉 But in any case, I have to say what a great video yet again Nick. Very interesting for me and I got a lot from it. I really enjoyed your subs views and your thinking too.
I'd love to see more question posts in future so that you can go over later in the day (if you choose to), it's a winner! Thanks, brother!,👏🏽😍
Coming here after losing my prop firm account 😅
Most "people" aka young people want to turn Day Trading into a day job lol salary pays of $50ks and $70ks but will work +12hr days staring at charts ? just get a regular job LOL .. Trading is for the few that risk and profit beyond their day job income levels.
5% per day... I think this is possible and also whats the point of trading if you dont make that kind of profit. Also I do it. Just so you know. If i had 500k so i can live from 1-2 % i would do something else.
5% per day ? If I had to guess you're not a profitable trader yet are you ? And don't put on a front , don't act , be honest cuz if you lie you still have to face the market and reality outside of UA-cam
@@kgosiking4228 Less then 5% i call long term investing not trading... I just tell you whats possible. And if you are not profitable, you shoud not repeat what your idols tell you. I dont need youtube chanel, software or online mentoring to sell, dont i? i MAKE I LIVING FROM TRADING lol
Depends on whether you're trading or investing
For traders
Anything between 5 and 20% per month should be standard anything more than that is gambling
For investors
Anything between 1% to 10% per month is phenomenal
I'm not saying you can't make more than that... You can but that requires experience and skill which all comes with time
The key is to figure out who you are and want you want from these markets.... Soo alot of self introspection is required
5-20% per month would make you the greatest trader of history
@@TraderNick lol
the real question is, Can you do 5 -20% per month? If you CAN'T then it can't be the standard, if you CAN then let us see your 1-3 years statement. and teach us. lol
@@TraderNick Lol yes, newbies are such delusionals