The Secret to Opening More Trades (Without Overtrading)
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- Опубліковано 4 лип 2024
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Are you frustrated because you want to open more trades and scale your returns? Don't worry, you're not alone. However, it might not be the right thing to do. Many traders make the mistake of thinking quantity equals higher profits. In reality, there's another factor that's more important to focus on first. In this video, we'll go through the practical process you should follow to decide if it's time to increase your trades and how to do that without your returns suffering.
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🕐 TIMESTAMPS:
00:00 2 factors to consider for opening more trades
00:48 Quantity is an amplifier (quantity vs quality)
05:17 Are you working more than you need to?
09:11 Practical tips for addressing the problem
Another simple to understand quality video. Thanks as always!
Thanks!
~ Nicholas
@@Duomoinitiative Hi, I'm new to your channel and will be going thru your uploads over the next few weeks. One question I have - which I'd be grateful for any feedback on - is about weekend trading for swing traders.
In the spread betting sphere, I'm able to hedge my (on German 40) weekday positions over weekends / bank holidays with IG Index - which takes away the stress and risk of holding over periods when my main firm (CMC Markets) is closed.
I understand prop firms occupy a different space to some extent - but I'd be very interested to know your thoughts on this ... as so far I've not been able to find any prop firms which allow me to trade with them over the weekend. I've also suggested to some prop firms about partnering with IG but they all kick for touch with non answers. Thank you.
Incredible informative video thanks for the .edu
i' ll work very well on increasing the quality of my trade first then later on i can think about increasing the the quantity
Really relate to the allocating my time to other projects. I am just struggling to find something productive, in income terms that can still relate to trading, that can help reduce some of the stress of "having to make it" as this really affects my psychology right now and puts a lot of pressure on myself to perform. I find that following a "set and forget" mindset allows me to allocate more time to getting out of the office, but this requires one to understand when certain pairs setups' occur, which thanks to journaling has helped identify this trend. What a journey so far! Currently busy with my evaluation stage of attaining the funded account, what a confidence booster that will be!
Thnx...Highly Needed this specially during Such a Volatile Markets.....!!!
Quality over quantity. Another video where you break down a topic thoroughly. Thank you again Nicholas!
great content ! thank you
You are a real pro. I wish more Traders would listen to you
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Great video Nicholas! I scalp the ES and if I want to increase the returns, I don't try to increase the number of trades a day but rather the number of contracts per trade. Take the 80-90% probability scalps and add over time.
90% scalp? Damn thats accurate
Awesome video, Nicolas!
The only and hopefully last thing I keep struggling with is fundamentals/trend direction. I fail to create a correct bias for the trend movement. As we all know, technical analysis & fundamentals go hand in hand, and when these two align for me, I'm smashing all of my partials & TPs.
But then again, I lack consistency (especially nowadays), where trends keep changing daily. I keep watching one lad on YT for his daily market outlook - but I can't be dependent on someone else. I need to understand it myself. Otherwise, I'll never be consistently profitable.
A bit about my trading:
- I'm daytrader (FX & indicies)
- I trade models supported by fundamentals & confluences
- I'm putting logic on the first place (so I avoid as many emotions as possible)
- I'm sitting ''24/7'' infront of charts (mainly because I'm addicted to trading)
- I'd say I'm disciplined when it comes to trading - but from time to time, I get FOMO (not entering any positions though)
Any advice on how to digest news and create an accurate trend bias direction? I have tried HH & LL - but it didn't really work for me.
Thank you Nic!
Enjoy the rest of the day!
Filipo
Make sure do analysis on bigger TF. Monthly, Weekly, Daily TF to look for the direction. And follow with the lower TF mapping to look for the opportunity. Don’t forget the news. Just my 1 cent advice.
Anytime I listen to him I make very good profits
Hey Nic,
A slightly unrelated question. During any part of your trading career, has the issue of trading not contributing to the overall wefare of the community (liquidity-provision notwithstanding) ever been a problem for you? If not, was it because it was a non-issue for you OR did you have to do something explicitly to deal with it?
Great video as always! When I started my journey some four years back , it was one of your videos that drew me in.
I need adopt Second system from tomorow. I cant Trade only trend market becose this is not every Time and market evolve change.
In London any comapany híre trader s??? I'm looking for a job like a trader
I've got the same question. A video explaining of what an institutional trader's jobs is would be really helpful as well
You only talked about 8 trades a month, what about 1 trade a month, does that increase the returns. I do 8 and I want to increase my returns, so am scaling back to 1 trade a month to make more.......whose got the answer to this one?