so true. Im new for trading. I start my account with 200$ and in the past 5 month grow up to 600$ step by step. of course its not a money for living but I was able to gain some skills, experience and most importantly my confidence.
This was great, I've been looking for "pips forex trading" for a while now, and I think this has helped. Ever heard of - Menabeth Pips Parapraxis - (do a google search ) ? Ive heard some decent things about it and my colleague got excellent success with it.
Nick it’s all about how you approach forex in the first place. if you chasing a lifestyle then compound interest won’t work for someone who wants to start posting on Instagram his flashy new lifestyle. But if your approach is business based you will appreciate 2% gain because you mentally prepared for the long journey. Well it’s how I approached trading after a year of stupid mistakes
as a future trader since over 8 years I can say its a good explanation why so many people crashes their small accounts , why ? because they want to make millions or at least want to make a living from trading with a 1000 dollar account what is not possible. that's why they start gambling with 10% risk per position. you never get successful this way. all you can do with 1000 dollars is grow that account and maybe one day when you account hits 30k or more and you make your 10% a month , congratulations then you are a professional trader. greetings
what are you talking about it is possible.... its just rare. thats like saying its impossible to get rich going to the casino same thing if people treat it as such. Anything is possible at all times some of us catch it some dont
When it comes to trading fx online, you should not be to optimistic. Not being greedy and being realistic are some of the important secrets of currency trading.
Believe it or not, around 80% of retail forex traders are actually losing money when trading forex. The main reason is that these traders are not prepared to trade on high volatility periods, and that they tend to be too greedy.
It is important to choose a trustworthy, reliable broker, and a suitable trading account, as this will be a big indication of your success in this market. Mr AlexPaton is a reliable broker. I do my trades with him.
yep..your're right bruh ... grew my account from 100 - 117 in 12 hours but instead of taking profits i kept the positions open... and in 2 hours i lost it all now i believe smaller lot sizes are the way for consistent profits
To be sincere, Nick, that leverage has really put me in trouble, as a beginner. All my account was blown out in just few days. But now, since I have been watching your videos, I have been so confidence in trading than before because the risk involved in my trade is not too much; It's affordable and bearable for me. If I have $50-dollar account, and I am risking $3 dollars, I think this is not too much for me. Thanks a lot. This is reality video, please.
''Risk is everything when it comes to trading. It's not about how much money you can make, it's about keeping money in your account and protecting the capital you bring to the table.'' thanks so much for that Nick
Binged on a couple of your videos and I must say it's super insightful. Now I know where my go-to Forex Educator is. Super Transparent and Understandable. PS: I heard the part were you said you are not so good at math and I could totally relate. It's however hilarious how a lot of people think that you need to know a lot about Math to Trade the Forex market. I think you should make a video explaining this myth.
This is fantastic Nick am so grateful for this video, you just save me from blowing my account. I had always think 10% to 20% risk is good enough for a big account but was dead wrong.
You are so right about it. I have other business as well. Most of the ppl not in the business construed us as we are making shocking income and still lay low. Trading is not a certainty but a probability. Almost everyone I met would be very interested to approach for the topic. Many are trying to step in without knowing the details or put in the patience to learn and end up losing money. I tried many ways to explain. Your video is a good wake up call to share with them.
It was a rrealy insightful video but you still didn't explain how to calculate lot size based on the stop loss. I think a video like that would be great!
i keep my max loss under 5% of my account. what i play for lots kind of depends on what kind of SL i am willing to tolerate. Generally i work with a 20 SL usually. Where my loss tolerance gets really tested is when i have multiple positions. This is where i take advantage of leverage. Leverage allows me to have more positions. I have some running for days....months... and i do play short trades of a few hours. so...i love having the leverage allowance to this sort of thing.
This is very educational but I’m still a little confused on what lot size to use. Say I’m a scalper and my stop loss is 10 pips. I have a $1000 account and I want to risk 1%. What’s the lot size I should use to enter the trade?
Hi Nick, thank you for great advice on how to protect my capital, in your style of trading, how much lot size would you most select to enter a position based on your account size? I‘m currently enter 0,02 lot size for every $350 in my capital.
This has really helped me so much...You are very level headed and you definitely use common sense when trading. Thanks for the advice. I will definitely take this approach to my trading and remain patient with the process. Every good thing takes time!
Now I can't stop stressing about risk management lol thanks nick I learn alot from all your videos what you said hit home I'd rather lose 5 times with good risk management instead of 5 times with no risk management in tact appreciate this content
I like the way you say. I didn't know this now I really understand this and I really happy about this, we must don't risk too much risk lots size because if you have small accounts it will blow all accounts. We must risk small lots size until we grow account. I was ask myself why I lose too much money because I risk too much then I find risk small lots size and grow account the day or week
5 losing trades with a 70% win rate will almost NOT happen. The math doesnt add up. Five losing trades in a row probability would be .30 * .30 *.30 *.30 *.30 = .002 or .2% chance that this will happen. So 98.99% chance that this WONT happen. Also you dont lose 50%. You have $1000 lose 10% becomes $990 then 10% of that is $9.9.... etc...
i dont think that make sense. When you lose 10% of 1k thats 100 but after the 1st trade you have 900 left and 10% of that is not 100, with that said after 5 losing trades in a row you will have more than 500
Good video. Thanks for the help. Been trading for many moons and just given info I needed hear years ago. Working on the 50:1 . Let's see how good I can be!!
Hi Nick - which Trading platform you use for your trading , which Platform your recommend for a beginner should be secured and approved by government authority?
You videos are really educative, thanks Nick. I struggle with my Risk to reward ratio because i feel i always need to allow enough room to accomodate market fluctuations. I basically do scalping and i usually set my take profit at a 100pips while setting my Stop loss at 200 pips just to accommodate market fluctuations. What do u think about my Risk to Reward Ratio?
If we are losing 10% per trade, shouldn't the equity decrease accordingly? This would give us values of -100, -90, -80, -70, and -60. Yes? I am very new to trading so please correct me if I'm wrong.
Hi Nick, just a personal opinion. Your exposition is incomplete, it would be helpfull to understand how to calculate the percentage of risk and the capital needed depending on the asset you are trading. In account like the one you are describing 1% of risk can be really bad, in some market it will be a repetitive Stop Loss for spikes and volatility. So I think that it's ok to focus on the risk but if you want to be complete you must extend your exposition a little bit more in order to provide the right informations. Goog luck, keep it going!
Technically if you lose 10% of your capital from 5 day trades in a row starting at $1000, you'll be left with $590.49. Just wanted to throw that out there. Nonetheless, good video.
Nick you have really helped me with this video Cos I just lost my prob MFF Acc $10k I never knew it was this way. I av always wondered y I still loss a lot even with all the knowledge I av acquired.. Rick thanks a lot cos now I know how it’s done I see, this is my major weakness.. Also ur psychology video as also don much cos this are the area I find my greatest weaknesses THANKS ALOT RICK
seems like you did a lot of explaining the Why.... im more interested in the how. how do you stay on 1% as the different currencies have different pip values... how do you know what lot size to use
so true. Im new for trading. I start my account with 200$ and in the past 5 month grow up to 600$ step by step. of course its not a money for living but I was able to gain some skills, experience and most importantly my confidence.
That's the exact mindset that can grow into bigger numbers over time. Cheers Alex.
@@TraderNick thanks man
This was great, I've been looking for "pips forex trading" for a while now, and I think this has helped. Ever heard of - Menabeth Pips Parapraxis - (do a google search ) ? Ive heard some decent things about it and my colleague got excellent success with it.
How’s your trading doing now?
2023 update ??
I love honest trader. Subscribed!
Nick it’s all about how you approach forex in the first place. if you chasing a lifestyle then compound interest won’t work for someone who wants to start posting on Instagram his flashy new lifestyle. But if your approach is business based you will appreciate 2% gain because you mentally prepared for the long journey. Well it’s how I approached trading after a year of stupid mistakes
as a future trader since over 8 years I can say its a good explanation why so many people crashes their small accounts , why ? because they want to make millions or at least want to make a living from trading with a 1000 dollar account what is not possible. that's why they start gambling with 10% risk per position. you never get successful this way. all you can do with 1000 dollars is grow that account and maybe one day when you account hits 30k or more and you make your 10% a month , congratulations then you are a professional trader. greetings
what are you talking about it is possible.... its just rare. thats like saying its impossible to get rich going to the casino same thing if people treat it as such. Anything is possible at all times some of us catch it some dont
Real shit 💯
@@KH-mb1jg I hope your mindset has grown now
Perfect
Nick is really the best teacher in Forex
When it comes to trading fx online, you should not be to optimistic. Not being greedy and being realistic are some of the important secrets of currency trading.
Believe it or not, around 80% of retail forex traders are actually losing money when trading forex. The main reason is that these traders are not prepared to trade on high volatility periods, and that they tend to be too greedy.
It is important to choose a trustworthy, reliable broker, and a suitable trading account, as this will be a big indication of your success in this market. Mr AlexPaton is a reliable broker. I do my trades with him.
[+1 872201 8317] that’s his working line. contact him directly
Thanks
U are right bro
This concept changed my game for good
You are a solution to the cry of millions...thumbs up bro...
Nick is the truth, a realistic approach to the world of trading
yep..your're right bruh ...
grew my account from 100 - 117 in 12 hours but instead of taking profits i kept the positions open... and in 2 hours i lost it all
now i believe smaller lot sizes are the way for consistent profits
Greed Always will take you down .... i blow up $700 this month ...but yesterday I made my first $15 with proper risk management and small lot
the relaxing music in the back is so fitting for your style of trading :') much love, yet again nick!
To be sincere, Nick, that leverage has really put me in trouble, as a beginner. All my account was blown out in just few days. But now, since I have been watching your videos, I have been so confidence in trading than before because the risk involved in my trade is not too much; It's affordable and bearable for me. If I have $50-dollar account, and I am risking $3 dollars, I think this is not too much for me. Thanks a lot. This is reality video, please.
''Risk is everything when it comes to trading. It's not about how much money you can make, it's about keeping money in your account and protecting the capital you bring to the table.''
thanks so much for that Nick
Thanks Nick
Risk management is the source of all horrors in trading. The battle between fear and greed
Binged on a couple of your videos and I must say it's super insightful. Now I know where my go-to Forex Educator is. Super Transparent and Understandable. PS: I heard the part were you said you are not so good at math and I could totally relate. It's however hilarious how a lot of people think that you need to know a lot about Math to Trade the Forex market. I think you should make a video explaining this myth.
You're Drawing with Snip&Sketch in a Paint photo, this must be NEXT LEVEL!
Good advice! Protecting the account and not hoping for luck in gambling is the right mindset.
I was asked to watch this because I make type 2 losses and now I understand this thanks nick consistency is the game
This is fantastic Nick am so grateful for this video, you just save me from blowing my account. I had always think 10% to 20% risk is good enough for a big account but was dead wrong.
The reality of trading is not about flashy cars and lifestyles shown by those crooks. Hats off to you Nick. I wish I had found this video sooner
AWESOME. Thank you Nick!! I needed to hear this..
You are so right about it. I have other business as well. Most of the ppl not in the business construed us as we are making shocking income and still lay low. Trading is not a certainty but a probability. Almost everyone I met would be very interested to approach for the topic. Many are trying to step in without knowing the details or put in the patience to learn and end up losing money. I tried many ways to explain. Your video is a good wake up call to share with them.
I just wanted to thank you for answering with that remark and I'll appreciate the 1percentage per trade!!
Yes! This was MEGA Helpful! THis was very well explained and I understood every each step of the way! Thank You!
Very honest and love the background music too it made me focused while watching.
appreciate your honesty and clarity /conciseness in teaching - subscribed !
It was a rrealy insightful video but you still didn't explain how to calculate lot size based on the stop loss. I think a video like that would be great!
i keep my max loss under 5% of my account. what i play for lots kind of depends on what kind of SL i am willing to tolerate. Generally i work with a 20 SL usually. Where my loss tolerance gets really tested is when i have multiple positions. This is where i take advantage of leverage. Leverage allows me to have more positions. I have some running for days....months... and i do play short trades of a few hours. so...i love having the leverage allowance to this sort of thing.
This is very educational but I’m still a little confused on what lot size to use. Say I’m a scalper and my stop loss is 10 pips. I have a $1000 account and I want to risk 1%. What’s the lot size I should use to enter the trade?
I love the way you speak
I enjoy the way you teach
I like your voice Nick....
Thanks for the video but you didn't say anything about the lot size
Hi Nick, thank you for great advice on how to protect my capital, in your style of trading, how much lot size would you most select to enter a position based on your account size? I‘m currently enter 0,02 lot size for every $350 in my capital.
Xolani Ndlovu If it fits your risk tolerance then go for it. I’d say it’s middle of the line risk tolerance 👍
Thanks! 🙏🏿
Thanks nick your videos are great keep posting!!
Extremely sensible class Nick thank you! This is key to being consistent. I am going to be more patient going forward to grow my account. ❤
You spoke well, it show you know what you doing. I learnt a lot. Thanks for the video
Thanks Nick, I am going to apply this approach right away.
Fantastic video ,my father was in the UK LSE and he preached the same ethic
This has really helped me so much...You are very level headed and you definitely use common sense when trading. Thanks for the advice. I will definitely take this approach to my trading and remain patient with the process. Every good thing takes time!
Now I can't stop stressing about risk management lol thanks nick I learn alot from all your videos what you said hit home I'd rather lose 5 times with good risk management instead of 5 times with no risk management in tact appreciate this content
Smart bro...super smart. I love this approach
It is still worth it.... watching this vid is like a goldmine came true.....it is greed which makes a bad trader
I like the way you say. I didn't know this now I really understand this and I really happy about this, we must don't risk too much risk lots size because if you have small accounts it will blow all accounts. We must risk small lots size until we grow account. I was ask myself why I lose too much money because I risk too much then I find risk small lots size and grow account the day or week
Nice video nick....thanks a lot for sacrificing your time to give us this great ideas. Keep it up...
Words of wisdom, thank you Nick!
Thanks for the good explanation 👍
5 losing trades with a 70% win rate will almost NOT happen. The math doesnt add up. Five losing trades in a row probability would be .30 * .30 *.30 *.30 *.30 = .002 or .2% chance that this will happen. So 98.99% chance that this WONT happen. Also you dont lose 50%. You have $1000 lose 10% becomes $990 then 10% of that is $9.9.... etc...
If you have a good stop loss set up will it not stop you from losing big? But if you win it will give you bigger gains on a small account?
Well explained. Thank you so much for this 🙏🏾
Nice to hear hear from India 🇮🇳
Personally I hate microlots,lots of time and effort very little profit , but always protect ur portfolio, like you said
Great video bro.
Your telling the truth! keep up the good teachings Nick! BROVO
Absolutely wonderfully put. Good work nick
Thank you for such a good information
you just sharpen my brain bro i've never thought about this wow
Very well explained Nick...God bless you with more profit👍
Beautiful!!! Am on the right track!!!!!!!!
Thank you so much traderNick
Business man at its finest
i dont think that make sense. When you lose 10% of 1k thats 100 but after the 1st trade you have 900 left and 10% of that is not 100, with that said after 5 losing trades in a row you will have more than 500
Good video. Thanks for the help. Been trading for many moons and just given info I needed hear years ago. Working on the 50:1 . Let's see how good I can be!!
I thought buy using a stop loss it takes you out of the trade based on the amount of pips your lost
Unreal mate thank you
I love you Bro... You're one of the best
the best explanation , love it nick !
This was great! Thank you!
I’m planning to open a $100 account, what’s the best leverage and lot size?
Hi Nick - which Trading platform you use for your trading , which Platform your recommend for a beginner should be secured and approved by government authority?
Yeah bro, share some profitable indicator to filter buying or selling entry.
You didn't told how to calculate lot size relative to SL AND TP which was meant to be as per title...
You videos are really educative, thanks Nick. I struggle with my Risk to reward ratio because i feel i always need to allow enough room to accomodate market fluctuations. I basically do scalping and i usually set my take profit at a 100pips while setting my Stop loss at 200 pips just to accommodate market fluctuations. What do u think about my Risk to Reward Ratio?
bro your risk is terrible. You have to make more than you risk. eg stop loss 50 pips, take profit 100 pips
"Having money in your account is like having gas in your car" 😱That hit the spot!
So informative thank you man, i love you for this.
Thanks man .. it really helped me
Great content! This is one of the most honest traders I've watched. Thanks Nick this video has just saved me a fortune.
Glad it was helpful!
You a one of the most profitable trade I know you might wonder how I know but I know
If we are losing 10% per trade, shouldn't the equity decrease accordingly? This would give us values of -100, -90, -80, -70, and -60. Yes? I am very new to trading so please correct me if I'm wrong.
Awesome video tutorial Nick thanks
Hi Nick, just a personal opinion. Your exposition is incomplete, it would be helpfull to understand how to calculate the percentage of risk and the capital needed depending on the asset you are trading. In account like the one you are describing 1% of risk can be really bad, in some market it will be a repetitive Stop Loss for spikes and volatility. So I think that it's ok to focus on the risk but if you want to be complete you must extend your exposition a little bit more in order to provide the right informations. Goog luck, keep it going!
Thanks for your comment! I appreciate the feedback.
The 1 percent risk dont apply to small accounts like this. Thanks for noting it
Technically if you lose 10% of your capital from 5 day trades in a row starting at $1000, you'll be left with $590.49. Just wanted to throw that out there. Nonetheless, good video.
I have 350$ and a beginner in forex what should i use what leverage and lot size please ??
I am in learning phase. Can you suggest me books and study material. I like your way of lecture and content. May God bless you dear.
you are underrated. Your video is valuable.
And I am watching this video after loss of 83% today 😥 Still Thanks bro ❤👍
Super teaching , thanks!
If we loose 10 percent in a row. We will have 600 dollars. Excluding commission n brokerage
Nick you have really helped me with this video Cos I just lost my prob MFF Acc $10k
I never knew it was this way. I av always wondered y I still loss a lot even with all the knowledge I av acquired..
Rick thanks a lot cos now I know how it’s done
I see, this is my major weakness..
Also ur psychology video as also don much cos this are the area I find my greatest weaknesses
THANKS ALOT RICK
You are such a nice guy.👍
Good stuff!!
5 years ago i loss all my acc. last year i start trading with 30usd welcome bonus and grow my acc to 2000. keep trading 0.01 lot and i'll make it.
Had I watched this some time back before I started
So, what lot slze should we use? What you show is the risk management, not position sizing, buddy
If you risk 1% and you put a SL, you will lose less than 1% on your account?
Thanks so much the video was very good and helpful
Sir nick thank you I learn a lot your a good teacher
You are very welcome
0.05 and 0.1 maximum only at confirmed entry points should be the lot size I converted 300 to 800 in 2 weeks and then got stuck
So 1.2% is what I backtested to get best results seem accurate for a 15,000 account? on 1hr chart
seems like you did a lot of explaining the Why.... im more interested in the how. how do you stay on 1% as the different currencies have different pip values... how do you know what lot size to use
Thank you very much.
Thanks alot bro I can see that you are very wise
For really small accounts, What brokers are best to trade through?
Honest commentry