THE THING THAT IMPROVED MY TRADING APPROACH
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- Опубліковано 26 сер 2024
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Nicholas explains the realisation that changed his approach to trading and led to him entering the phase that eventually included him becoming a professional trader.
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TRADING PERFORMANCE
Nicholas explains the realisation that changed his approach to trading and led to him entering the phase that eventually included him becoming a professional trader. This is a 'one-to-one time' vlog with Nicholas where he talks about his personal experiences with trading, including learning to trade and becoming a profitable trader.
Presented by Nicholas Puri
▶️Watch more about Nicholas' experiences: • MY EXPERIENCE OF MAKIN...
love the video brohta! Keep killing it!
Pro coment to pro..
Good to see Ricky here :D
Look how far both of you have come in these 4 years 🔥
The only real genuine trader i have ever seen on youtube, you put the others to shame man! Thanks for making this channel
Thanks so much!
And better looking than George Clooney. Danm
Facts ❤
You are very right.. cause I went through that same phase...I had to transition from a "hobby" mindset to a "this is my future business" mindset. As a result...every department... (Capital Allocation, Risk Management, Sharp Ratio, Trade Management and how often I withdraw profits) had accountability on my part. That Change of mindset shifted everything... so I advocate what you said in that video. GREAT CONTENT!!!!
Hey guys, sorry that this one was a bit rushed and I didn't get a chance to go into the details that I really wanted to. However, I wanted to make sure we got this video out even if it's from the meeting room, since I had already committed to it! I hope you enjoy it anyway and find it insightful.
- Nicholas
Wow. Second video I have watched from you, definitely subscribed. I was just reading this concept in a book that I finished yesterday, think of yourself as "You Inc." When you are your own company you invest in yourself and treat it as a real business. Thank you for your great insights I cant wait for future videos.
The Duomo Initiative - Financial Education The commitment you convey is already a value spreading +1
still very informative I've enjoyed the viewing
I share so many similarities with you its not even funny
I hear you, but not coming from a finance background, what would those departments be? Research, HR, traders?
Actually, what you say makes a lot of sense. Most people are employees and have an employee mentality. When I went from employee to opening my first business, my mentality changed (by force, lol) from employee thinking to business minded. You're right, the only way to succeed is to see my trading as a company which has to grow. Thank you for the inspiration.
I'm a 15 year old trader from South Africa and you're videos are the main reason I became profitable....I've been growing my trading account from 44 cents to $1.40
I now turned that $1 to $76 and planning on doing 10% a day until $30 000
Pumulo Mambwe yeah boi
Encouraging, it’s not about the dollar amount but about the percentage! Keep hitting those numbers and compounding on your initial nest egg.
@@pumulomambwe9585 how you doing
Best video I've ever seen about the psychology you should have when trading, I felt the shift happening in my brain! Thank you!
Glad it helped!
This kind of info is the most valuable kind for trading. Anyone can “learn” how to trade but being professional about it mentally is the key for success. Spot on. Thanks
It’s so good to see there are real people on UA-cam giving sound advice and real opinions based on experience.
I have been through this lucky and unlucky cycles more than once. When I am lucky I feel that my strategy is fool proof and I take more risk and end up in loosing what I got. Any way thanks for bringing this topic, because it happens to many. This time I am going to be more organized and realistic to keep my profits and minimizing loses. Thumbs up from India!!!
Thanks a lot! I think it's common to go through those phases, but they're always opportunities to learn more about our trading and, more importantly, about ourselves. Which hopefully helps us get better over time!
I really like your perspective about being a one man company
You might not know me...and we have never met but I have adopted you as my personal mentor on how I approach trading and it has helped me a lot. I really like your approach and how relatable your experiances are- unlike most so called trading experts here with 100% winning streaks. I really appreciate your effort to reach out and give advice to people like me who just got started on this journey. Thank you
Thanks! Glad the videos have been helping you. I hope you keep progressing in the right direction.
One of the most important least talked about elements of trading. Thank you.
Bro! I hope to actually meet you someday you have been a good source on the improvement of my trading, thank you!
Love it, the content and delivery🙌🏽 I signed up for the free classes last week and have been enjoying learning from you step by step.Thank you for a quality information! Aloha from Hawaii🌊🤙🏽
"Treat it like a company"
I like that
Thanks for this video. It's what I needed to hear. I need to reframe how I view my trading if I want to improve.
Great vid Nicholas, just what I needed to hear.
Very well said. the biggest problem for most of us in Trading is that we are not accountable to anyone which is good and that's what we are looking for but it is a big drawback to succeed. I just satisfy myself to take positions and end up losing or not doing so well! How to solve this problem when we don't have anyone to cross-check our decisions objectively? or how I hold a dual role of making a decision and approving the same!? tx
Amazing! Just stumbled across your channe. Felt like a piece of the jigsaw puzzle clicked together watching this. This is absolute gold.
These are definitely some of the most valuable videos for me now. I've watched over them a few times. Had they have already been on UA-cam when I bought your course at the end of September last year, they probably wouldn't have offered anything to me at the time. But one year on, as I progress at becoming better at reading the charts and begin to look at the prospect of 'going live' in the markets hopefully at the end of the year, or if not, some time next year....they are very valuable! Thanks Niki!
Even as an employee I’ve always viewed work as my business same with trading. We started trading 6 months ago, first thing was LLC formation and studying day trading and business taxes. We have only traded under our company not under individual accounts.
you can just see that this man has passion of teaching success unlike others who just want to suck money out of your pocket.
It's all true. For me I had research (backtesting), programming/development, execution, risk analysis and accounting. And sometimes I needed to be the CEO to step in and reprimand my "departments" as the priorities were misplaced or quality wasn't up to standard. It's all very tiring though because your attention is really stretched and you need to shift focus within minutes constantly.
No ur NOT rambling , ur making alot of sense;;thanks for this 👍
I just came across you a week ago, and I gotta say your videos have a ton of information!! I'm about to go into my 4th year of trading, and I've not been very profitable so far. These last 6 months though I have managed to stop losing the big amounts, by only making 1 - 2 trades a day. I'm slowly becoming profitable, but the consistency in not taking more than 2 trades is hard. Your videos are certainly helping!! I'm wanting to become a day trader in stocks
Well said. I learned from you.
I prefer your rambling videos. The way you trade and I trade are different, and I don't care to learn your method, because it's for you and what I do is for me.
I find much more similarity with your talks on how trading affects your life, how you became interested in trading, etc. I find it intellectually stimulating to learn about the dynamics of equity options. I pile time into this because it's just interesting, and making money doing it legitimizes the investment in time and effort.
Thank you, this is a really valid point about focusing on each point in the trading process to ensure your success.
excellent video!! the moment you said it - i felt bulbs going on in my mind - I understood exactly what you meant when you said different functions and I immidiately recognized that my homework except for price action analysis for next day , has been so weak...just becoz of the same reason you mentioned ..how can one man do so many things ...but we are up against companies ..and we have to behave like them....thank you so much...this is a game changing video for me
I genuinely appreciate every single one of the videos you share. I'm able to learn and make the effort to apply it to my trading journey!
Your videos are so helpful- thankyou 👍
Best advice ever.. I now know how to improve. thanks mate. Love your honest videos
You are amazing, keep throwing stuff like this ✌🏻 god bless you
In my transition what helped me was how I started to dress in the morning as if I was going to work I will go through my whole morning routine and than actually put on a shirt and tie along with my slacks and shoes i found it very disrepectful and cocky to trade in my boxers especially when am not killin it in the market on a consistent basis. But I feel good and it has improved my trading "act as if until you become as if" thanks Nick as always great advice.
Frank B well done. Your so correct
I like the idea that I can think of trading as my own personal company. I am fairly new to trading, started a month ago and there are all sorts of things going on in my head. Videos like this really helps. Thank you!
After a month, there are likely to be so many new concepts and lessons floating around in your head. After a while, things start to settle and as long as you are patient with your development, you will start to feel more comfortable with your trading and see consistent progress in your ability.
so besides creating a trading plan, trade watchlist, trading rules and criteria and trade records, what other "Department" does one need to add to their company to enhance performance and profitability?
Excellent, thanks. Gavee me some ideas on how to improve.
interesting idea. However I didnt fully get it. How do we put it into practice? I never had a company and I dont really know how one operates. Which steps can we take to make our trading more serious in comparison to owning a company?
Thank you, your videos are quite reassuring and encouraging. Helps one to get into the right mind and be more serious.
You are a true inspiration. So many questions I had in the past has been answered by your one after one amazing videos. Thanks for sharing and have a great day.
Thank you! Glad the videos have been helping. If you have any other questions, we're here to help.
Thank you Nicholas for your valuable time.
Thanks for that. I really needed to hear that. I believe you are right! I need to treat my trading like a company then I know I will do better as a trader.
one man company....yes...I totally agree with this....day to day....I should spend time to optimise my trading system....learn....hardwork...preparation!!! love your videos..!!
I'm soo glad that I found you early😌😍
Im really enjoying these vids! Im 18 and just started with Forex, still using demo accounts but what you say has all gone through my head before and its awesome to see that i predicted how some things will end up as in the future
Hi Nicolas! Thank you for this insight! But can you give some examples of department names and their functions that we should consider? I can try to make my own, but I'm curious to know how to break down your "one-man company". Thanks!
How do you feel about basket trading with EAs? I've had pretty decent success with this and it's pretty easy to manage. Thanks!
The video was good. Got the main point. That being to be responsible with your trading. Right? Be focused ...
Thank you ... awesome 👍😁
7:58 is a critical lesson
please tell how was your journey while learning how to trade ..... what things you did at that time .... how you started leaning process and made it effective for you to actually earn money from trading . thanks
This video is solid Gold
I love your videos man. I am surprised I haven't heard of you sooner than last week !
Great advice actually. I never really thought of it that way.
I guess I focus on everything at once but if I concern myself with each department I will see clearer advancement and potential areas that need more focus.
For example my downfall has always been keeping a journal but the past few months I have gotten ahold of it. Do I can say the records and journal department is doing well. Now if I can only get to work on time (2am) for me lol.
Have you done a video on overtrading! I only risk 1 percent on a trade. But I'll have like 10 trades open that meet my rules. What's your take on that. Thank you very much. You've been a great help!
If they're long term trades then it can be ok under certain circumstances (e.g. keeping an eye on correlations and exposure to certain risks) or if you're including them as part of a portfolio. However, if it's 10 trades at once in intra-day or intra-week then I think you can't really give 10 trades your absolute focus, so they can all potentially suffer as a result. That's not to mention the fact that you're potentially over-exposed at that point.
On a personal note - I ended up suffering a serious burnout due to the stress and pressure of continuously managing too mange positions at once. I'll talk about that in one of these videos at some point.
Depends on what kind of positions they are also. If you're making longer term speculative bets, you better be doing your research all the time to give yourself an edge in expertise. There are other possible ways to trade though. Market makers make plenty of money and they're trading piles of positions all the time, their approach is different, they're operating like a bookie and managing their edge through a high number of trades with defined risk and reward profiles. If I'm trading company earnings with a butterfly, I don't really have to sweat the details too much. I intend to make a small profit from vol crush and if it doesn't go my way the risk to position size is small because I set it up that way on entry. Doing something like that, you could manage more positions simultaneously.
Personally I think 1% risk per trade on 10 trades is a pretty reasonable idea depending on what you're doing.
aluisious Agree number and type of position is key. Everyone's busy trying to find a strategy that works when in fact you need to align your strategy to some higher policy. In my case before I define a trading strategy I decided to identify events that happened on a chart (once every 2days vs once every day vs 10times a day). I found long 100pip trends once every 2days vs 50pip trends once a day vs short 10pip trend ten times a day. Then found a strategy which identifies the the 10pip event confidently and then once efficient and repeatable at will I began betting confidently higher and higher (removed limit on 1% account if u double ur money then remove initial stake, u can bet as aggressively as u want blow ur account even), then you set basic profit plans just like a business (I need to make £x per day, £y per week, £z per month or year....then how many events per day do I pick off per day to make X....the rest is history (aka trading success). Hope I haven't lost anyone....just my 2penneth.. update: I only trade once or twice a day and open a new trade only once previous trade has closed. Make life and risk mgt so much simpler!
equitycurvesimulator.com this will really help you understand what is taking place on the performance of you equity curve from a theoretical point of view. of coarse the bid/ask spread fee retail brokers push against traders is enough to significantly alter things for the worse if you truly account for them. Assuming you have edge, a 1% risk Kelly optimal compound rate for every trade is ideal even if you drift between random-walk and having accuracy.
Brilliant video, love your insights, takes the "trading as a business" to a much deeper level, really tangible thank you.
When are you coming to African Kenya??thanks for the info..........
Talk more about Nicolas Darvas and the Darvas boxes please. And thank you for sharing your mind with us.
Consider it done. ua-cam.com/video/aZdt7l8N1tg/v-deo.html
I would like to see how to daytrade futures in real life, there are non vid out there that tells threre strategy with this,
How to find an entry, where to get out, what products to trades, what to watchout for. how to watch the market etc...
no no no . this WAS very insightful nick. its these lil detailed videos that mean the most.what youjust said has hit home and i am treating this like a hobby which i dedicate all my time to. when as you said its a business so i need to treat it like that and get serious.
always interesting to hear other traders view points
Very good to hear this! The way you put things makes sense to me. I hope to become a great trader one day (the sooner the better 😁).
Keep up the enthusiasm and stay disciplined with your development, without trying to rush ahead, and I'm sure you will get there.
- Nicholas
this video makes me want to learn to trade! So much free info on your channel!
Glad it motivated you :)
Thank you so much. This has shifted my mind as well.
is it "reasonable"? ...a powerful distinction. thank you for sharing.
You are helping a lot, thanks, really appreciate it :)
Holy sh*t, that's facts. Thank you
This is gold. thank you very much..
What have you got your Masters under Economics ?
Hello Nicholas thanks for the great videos! I'm not sure if you already covered it, but please talk about when to step away from the charts. How long did it take you to step away from the screen and do others things? I myself along with a lot of others who sit infront of the charts all day trading-so not to miss any action. How did you pull yourself away? Thanks!
you don't. No professional trader ever thinks about pulling away from the chart . Some trading courses talks about it . But they dont know what they are talking about . Stay put with the chart , thats the price we have to pay for making money
Thx man!! I get you a 100%, just what I needed 💯
highly useful info and productive points of view thanks again.
I hope that you'll make a video about the roles in this one man company more in details, great video!!!
Cheers Robbert. I will do a video about it - or as my friend called it "Nicholas Rambo - One Man Army"
love it! Keep up the awesome work!
Thanks Nicholas! Eye opener....
Very good advice I really like your open discussions :)
some great points. Thank you
Could you recommend a broker and a country to register an account to have the less fees on pips, overnight fees and tax purposes if we want to trade on currency pairs like an investment for long term?
Hi nicholas,
Great vid as always!
I was wondering where you stand on daytrading stocks and perhaps forex. Currently i’m swing trading fx, some equities and gold. I’ve made fx and these couple other my focus which im pretty dialed in with the years. it fits my current lifestyle better, having to run a plastering company. I still love my job but i’m dreaming about going even more free in my life and i really would like to make trading my fulltime occupation daytrading. And traveling the world. I understand it wont be all glitter and glamour but it’s the life i’m willing to choose the next 10+ years atleast.
Going at trading for 2 years now and being profitable with a few hits here and there. But never blown account. Currently running 20 k account swing fx.
I would like to go and start daytrading stocks and fx fulltime with lvl 2 and going at it to the next level.
Youve been there. And maybe still are?
I know some people who are killing it daytrading but the overall is really against it and only prop firms with inside info and high speed execution have the chance.
I guess with the technology the retailers have today we can move just as quick? Just takes even more heavy skill?
Let me know man!
Best wishes
Storm
thanks bro
it is lovely and thanks.i lost s much during my first time in te trade,but i got help and i have improved cause my tutor and helper did me alot good,,i can now even help people who are willing,to improve trading mentality
Great video bro.. can i ask bro how much do u pay as tax in london if u r a trader?
Quite reflective. Good work.
its a business...its my business...thank you
Good video I'm learning more these days thanks
one man company can be applied to almost any other field, not just trading. and it works.
Can you recommend a force Broker ?
Nick, you are highly creative, believe me you should apply in science!
Try pistachio butter!! Its so good
Would you say when you're talking about planning, research, TA all going into trading is that more specifically to shares? Because you've talked about FX and how you trade it but do you treat that in the same way? (obs there is a lot of TA but surely there is a lot less research?
Alex
It would still apply to forex as well. There is a different sort of planning with other assets, as they will usually be part of a portfolio for me or at least a group of investments, so it's a slightly different approach. But I still put a lot of planning and research even into forex.
Thank for invaluable contents
GREAT VIDEO, AND GOOD ADVICE.
You are an amazing coach
what is your advice for A university student because I find it difficult to organize time
and find time for trading and learning each day
Prioritize learning in school. You're already there and already doing it, so you're in the perfect position to do that now. Believe me, later in life if you wish you had studied harder, it's going to be a far bigger hassle trying to redo it. You'll have professional and financial commitments, maybe family, you'll feel socially out of place back in a university. Trading is something you can do at any time in life just as well as any other time.
This is great advice!
Your videos are really helpful and one thing people can learn from you is that you don't promise the holy grail or rather "get rich quick".how many years do you think a forex trader can grow $10000 to a million?
95% chance you go to 0 or quit on the way down (simply that's how many traders with leverage like Forex trading fail). There is no such thing as a "number of years" as an average period to make a 100x gain. You're talking casino luck, or exceptional talent, and you wouldn't be asking a question like that with exceptional talent because you'd be better at math and the concept of distribution of returns already.
just Ramble On!! - Led Zepelin! ;p no in all seriousness, good video, more "rambling" please .. it holds value.
Can your strategy be applied to cryptocurrency markets?? Also How do you compete with High Frequency Traders?? Doesnt that eventually wipe you out?
I'm not him but I do use his advise to help diversify my Crypto accounts. However the Crypto market is very volatile
Volatility is good.
Crypto currencies have various problems for trading:
Huge, huuuuge counterparty risk. Exchanges shut down and run with the deposits often enough.
Huge spreads
Trading something that has inherently zero value means it can drop 99.99% tomorrow based simply on some nut case with deep pockets going ballistic. A billionaire/hedge fund could corner the market on a currency if they wanted to (and probably are looking at bitcoin prices), but no one can short Apple to zero. Even if someone spent hundreds of billions shorting Apple, the rest of the world would very quickly thank them for the cheap shares of a real company with real sales and the short would be over.
Yeah it has volatility in spades...so does playing casino games. Hell the spread in most casino games is more favorable, and at least you can observe every part of the game in action.
I needed to hear this.
I hope it helped!
- Nicholas