Trading Psychology Podcast Ep69: Bad Position Sizing
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- Опубліковано 1 жов 2024
- It turns out there are LOTs of reasons why you might deviate from a rational position size when you trade. There has never been a professional trader in history who has not followed a consistent position sizing regimen, so listen up. We have to get this demon out of you, regardless of what your reason might be.
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The hosts of this podcast are not licensed financial advisors, and nothing heard on this podcast should be taken as financial advice. Do your own research and understand all financial decisions and the results therein are yours and yours alone. The host is not responsible for the actions of their sponsors and/or affiliates. Conversely, views expressed on this podcast are that of the host only and may not reflect the views of any companies mentioned. Trading anything involves risk. Losses can exceed deposits.
Years ago, I made the life-changing decision to leave my career and dedicate myself to being a full-time mom. Along this journey, I discovered the world of forex trading through VP's No Nonsense Forex, and it has profoundly impacted my life. The lessons and strategies I've learned have not only opened up new financial opportunities but also rekindled my passion for learning and growth. This experience has been incredibly emotional for me, proving that it's never too late to pursue new dreams and reshape your future. God bless you both for being such a good force in the world of trading.
Love this!
Building a skill. Muscle memory. Got it!
Kenya represented💙
Bad position sizing always starts from the wrong idea that most people have, induced by most social media influencers, that you can make a lot of money quickly with trading
This episode got real deep by the end. I loved it!
2 contracts untill you hit 1500 profit. A good prop firm will help you with it. A whole episode about risk 😂😂😂
I come from Kenya. The first point you made about small accounts being a reason why most people over position size was right on point. Talking from experience. ):😅. I have added a prop firm account to my real account
This is the way
Hi guys, I have recently discovered your podcast, I’m so glad I did. No one out there is doing trading psychology training like you guys are doing! Thank you so much! I wonder if you could cover topic on taking profit for intro day trading and flipping on long/short positions ( like how to ignore market noises) thank you kindly!!
That would be mostly limited to Robb's audience, but we will consider, thank you!
Hi, I went for the prop firm funded-traders which was recommended on your cool stuff prop firms. Anyhow it has an unlimited time frame yet I got this 'The evaluation has now been terminated, which we do if we observe stagnation or consistent losses'. Just because I had a few losses but didn't go near their drawdown limit. Scammers. Do you or anyone have any other prop firms to try as trying first to find out this scenario is a waste ?
I need to take them off of my site then. My top choice has always been Maverick Trading where I trade now. There should be links for them available as well. I've been with them so long, I can't really recommend any others because I'm just not familiar with them.
Just base my position sizing to your ATR is enough for me tbh.
I try to make it as simple as possible.
Thank you both!! Very deep and useful as always. I would love to have some conclusions from your experience: size in relation to the account? Risk per trade? Some examples. Suggestions about target winning percentages?
It's all covered in my Money Management playlist
@@NoNonsenseForex ahh! Ok! Perfecto
Nononsense.
Anyone uses turn of the month strategy with good money management? I am trying it with options (what’s up with CONY stock?)
VP! your risk video was really a game changer for me. Thanks. Too bad that many commodities and some metals (plat) cannot be adjusted to the right account risk level as minimum trade level is usually 1 unit. Thanks to Rob for sharing his bad experience. Probably , this is the most important episode in this long Trading Psychology serie.
Oh it would be great to hear other peoples stories here, then you guys comment. That might be a great learning curve for everybody!
Love the show 🎉
I have recently experienced all of these problems and thnks god i get to hear this. Love you both ❤ alwys been my best teachers
Thank you for this great reminder
Thank you fellas ✅💪
FIRST!
Unrelated but how can i get cryptocurrency chartings on MT4.
I heard bybit have stopped MT4, just MT5
Then use mt5 for charts and trade in mt4?
My FX affiliates Markets.com has it on MT4, Blueberry Markets on MT5. And you can trade directly from them via cfds if you choose.
@@NoNonsenseForex Thanks alot, regards from Nigeria