Something that's helped me is sizing way down. I'm talking risking $10 to make $30+ Prove you have consistency with smaller size first. Do that for 2-3 months and you'll learn a lot without losing too much, or blowing up your account. It's a lot better than paper trading because there's still some emotion and money attached, even though it's a small amount. If you do it properly, you'll develop a lot of good habits that will stick with you when you size up. That $10 risk becomes $100, and the $30 profit becomes $300+. You absolutely don't have to blow up several accounts to get good at trading. And if you jump right in that's probably going to happen. Start small and only slowly size up once you're consistent.
A successful trader who’s kinda mentoring me once said: I’d rather regret NOT entering a position than regret AFTER taking a position. I always remind myself of that whenever I have FOMO. I’m 3 months in to the game and learning 🙌
Hi Mark, I learned S&R, Supply&Demand, trend lines, long time ago, but wasn't so confident until this week. Now I trade with 0.1 lot positions and became profitable immediately. I hope it will be good from now, confidence and patience are mastered now :D
My strategy works, when I execute it properly. Everyone on this thread, their strategy works. My problem isnt not trusting my strategy, my problem is not trusting myself. Im struggling but learning to not trade when the market conditions aren’t right. This week the US markets were smashing all time highs, not a good scenario for my strategy and my rules. My biggest problem is getting tempted to do things I know I shouldn’t be doing and not doing things I should be doing. Classic, If it walks like a duck .... 🦆
You are so right about this!! I started trading over 6 years ago, and up until about 10 months ago, I used to "throw my plans over my shoulder" as you mentioned. It's got to be such a common problem for traders. But since I've become more specific about what time I place my trade, and where in respect to the chart pattern, it has made a big difference. I used to have winning trade after winning trade, but 1 loser would wipe me out for 70-90% of my account. I've also looked at it like this: how many trades do I need to turn this $5000 I have, and turn it into $1 million. The answer was: A LOT!! That's also helped me to realize that losing trades will happen, but it's about how big of a loss you want to take that's going to make the difference. Thank you so much for sharing these videos!! I watch them all the time!!!!
i dont feel so bad watching these videos. I have only been doing options trading for 3 months. have Had mostly small losses or break evens, but have been learning. Managing my risk. I thought losing was because I wasnt a good trader. Thanks for the videos
ya know i think i did great yesterday, i was waiting for a couple hours to enter into a trade, but i didn't see one of my setups so i kinda just sat back all day and didn't end up putting a trade on. It is something new for me and i think this kind of approach to the markets is better for me, not having to force a trade takes the pressure off i think.
And there is another thing: when I am trading(in opposite to long term), I do it for fun. Well I do want to make money but but if it wasn't fun I wouldn't do it. So I somehow feel it is perfectly ok to sometimes "gamble". Not "gambling" as in casino gambling(which is also ok imo but dangerous road.. ) but like a sports game. Its not lost money its spent money. Spent into having fun with trading. Yes I do want to make money as I want to win a sports game but testing limits and sometimes fail makes the fun. Take a challenge on. Ultimately I feel if I were too afraid about loosing money all the time, the fear would impact my decisions in a bad way. Maybe others make more money, well I am rather sure they do. Thats ok. I do not argue against keeping money and risk managed - only like in sports: sometimes I loose and that's fine as long as it was fun.
Your Videos are ALWAYS motivating me Mark. Had a 15% Drawdown in October. Haven't traded for a week. Reading Mr. Douglas's books and as you said analysing what I did wrong the whole month and working on them.
Needed… I just tried to trade my strategy in a chop market and lost significantly. My adjustment is to never trade within a range and only trade towards the edges. The middle of the range is even 5 pips within. Stay out and trade the trends or the edges of ranges. That’s it. No ifs or buts. Ranges are capital killers.
This sounds a lot like me ...study all weekend get side tracked Monday morning fomo in and lose. Meanwhile, the stocks I picked over the weekend go on a run. FML. I've been trading for 2 years and just spinning my wheels but have learned so much that like you said I built my intuition and pattern recognition very well. The question I have is should I stick to only one strategy or try multiple things and keep learning to be a flexible trader? Example, swing trades, options, day trading, t/a trading, S/D trades ect.
That's what a'im strugling about at the moment.I needed this ,thanks Mark it was like mentoring to me.Im gona watch this video over and over again whole weekend and write it into my journal.Ones again Thanks
4:58 is fireeeee. I used to feel like that was just expected but now I treat those moments as wins and its a huge mindshift. Wins are not always found in the PL
Very good advice. Something to think about... Having a trading plan will help you forge the path in becoming a profitable trader. The quality of rules in your trading plan will determine whether the process has good outcome or not. Here comes handy the use of feedback loop. Now, the degree of commitment you apply to your rules will determine how much you will suffer and long you will stay in the game. You will never gonna be able to trade from a care free state of mind because of obvious reasons but how you react when things go sour is all up to you. And this applies to how you live your life in general.
Absolutely fabulous! Thank you so much Mark. This is just what I needed to hear at the moment. After 2 years of trading daily FX charts, with my own system of 9 setups that has, on average overall, a 65% success probability, and finally getting to a profit point, I've got into a pattern of having a week of brilliant trades, then a week or two later I lose most of it. Some of this I know is the market (trending strongly versus going flat - I had a great week when the Afghanistan debacle happened), but some too is me. I need to work out exactly what I'm doing wrong. I know that I rarely break rules, but I'm making some mistakes, and you've inspired me to work out what they are. I very much value your videos, so thanks again.
Yeah Bro I'm in the same boat as you I desperately needed to hear this video you know, you take 2 steps forward but then you take 4 steps backwards by this braking your trading rules thing.
Thanks Mark. This is timely. I have lost every day for the last few weeks. I don't know what's going on. Literally I wait, and wait, then see an opportunity that is good and as soon as I enter, it dives against me. Every single time. Sometimes I exit to save my account but a few times I stayed in and moved my stop because it always goes back up....except those few times, and I blew up my account. I'm sitting out for a bit.
I'm off the back of a terrible few weeks. It seemed to all start from an awful few trades and now I just can't catch a break. Main thing has been panicking too much when a trade is going the opposite way, I stop the trade, then boom it reverses. Also know I have been greedy at times, placing trades with large lot size to make back lost money. So frustrated with myself - I know I can do this. I just get sucked in to the emotion too much, takes alot to 'believe' in your trade and see it through!
When it comes to the world of investing, most people don't know where to start, fortunately, great investors of the past and present provide us with guidance
Because I was not consistent, very simple, period. Today I don't care of losing a trade as long as my risk manegement is okay, because this a part of the game. If I don't want to lose then I should never trade.
Thanks Mark, very very very accurate all you have said. Right now it´s what I needed to hear, despite that I know it´s the way. I could read again Mark Douglas books this weekend, but you have condensed the message in a real effective manner.
I'm so new I don't have rules or any real strategy yet 🤣 I was $150 away from passing my futures prop trading evaluation tho, not anymore, 1350 away now 😓 , I gotta figure out the basics of what I don't know, I can trade (decently lol) but this was helpful, thanks. Strategies & Rules, I can do that lol
Trading patterns are completely useless. The main rule you should follow, is the dividend yield Defines the bottom price and the free cash flow agreement returned to share holders is what defines the upside share price potential. Great companies that are highly profitable trade at such low multiples, because they don’t pay a dividend.
can do a video regarding bollinger band width? i cant seem to find bollinger band width videos here. please do a video on how to use it, what it is useful for, thanks.
Wow I was expecting to get an ass whooping on this video and feel terrible, but still clicked on this because I want to be profitable really bad. This video was actually very good, and inspiring. Good to know all that time didn't go to waste
Let’s talk about getting into a stock too early: when they hit a massive down day/trend, then getting a massive rally, getting out even or at a lost -_-
Needed that, I almost never keep my rules lately and had big losses. Why dont you speak about what rules are good and what rules are bad? I know everybody is different but I believe there should be some rules that are good especially when it comes to risk management
Ah yes .. lol .. most humans have there survival bias and loss aversion to work through after they learn to see and act on there edge intelligently - it’s a fun battle against your weaknesses .. best job on the planet 📈❤️
👉 Trade with our Sponsor Broker: Trade Nation www.financial-spread-betting.com/ccount/click.php?id=95 👉 We are seeking more contributors who can produce great video educational content about trading for our channel. If you think you have what it takes please get in touch by sending a message to traderATfinancial-spread-betting.com (remove the AT and substitute by @). 👉 It seems a lot of our viewers are non-subscribers. Make sure to subscribe to our youtube channel as we upload regular videos! If you hit the “Bell” icon (🔔) you will receive a notification on youtube every time that we upload a video on our channel. Bell icon hitters are super fans of our channel 🥰
Trading is by far the toughest business...
It can be the easiest and most profitable if you know what you are doing.
With experiece it gets lighter and lighter
Something that's helped me is sizing way down. I'm talking risking $10 to make $30+ Prove you have consistency with smaller size first. Do that for 2-3 months and you'll learn a lot without losing too much, or blowing up your account. It's a lot better than paper trading because there's still some emotion and money attached, even though it's a small amount. If you do it properly, you'll develop a lot of good habits that will stick with you when you size up. That $10 risk becomes $100, and the $30 profit becomes $300+. You absolutely don't have to blow up several accounts to get good at trading. And if you jump right in that's probably going to happen. Start small and only slowly size up once you're consistent.
A successful trader who’s kinda mentoring me once said: I’d rather regret NOT entering a position than regret AFTER taking a position. I always remind myself of that whenever I have FOMO.
I’m 3 months in to the game and learning 🙌
Hi Mark, I learned S&R, Supply&Demand, trend lines, long time ago, but wasn't so confident until this week. Now I trade with 0.1 lot positions and became profitable immediately. I hope it will be good from now, confidence and patience are mastered now :D
Yes, that's right - take it slow and steady and persevere because you will also have difficult times.
You don’t become profitable from one week to the next 🤣
Sorry bro hard truth. It’s going to take months of consistency to be considered profitable
I always come back to this video when I struggle. Thanks for posting these!
My strategy works, when I execute it properly. Everyone on this thread, their strategy works.
My problem isnt not trusting my strategy, my problem is not trusting myself. Im struggling but learning to not trade when the market conditions aren’t right. This week the US markets were smashing all time highs, not a good scenario for my strategy and my rules.
My biggest problem is getting tempted to do things I know I shouldn’t be doing and not doing things I should be doing. Classic,
If it walks like a duck .... 🦆
You are so right about this!! I started trading over 6 years ago, and up until about 10 months ago, I used to "throw my plans over my shoulder" as you mentioned. It's got to be such a common problem for traders. But since I've become more specific about what time I place my trade, and where in respect to the chart pattern, it has made a big difference. I used to have winning trade after winning trade, but 1 loser would wipe me out for 70-90% of my account. I've also looked at it like this: how many trades do I need to turn this $5000 I have, and turn it into $1 million. The answer was: A LOT!! That's also helped me to realize that losing trades will happen, but it's about how big of a loss you want to take that's going to make the difference.
Thank you so much for sharing these videos!! I watch them all the time!!!!
Great video! I brake these main rules over trading and position size I get destroyed once frustration kicks in so absolutely agree rules matter
I needed this. Thank you! I’ve been watching your videos for years, am also a premium subscriber. I really appreciate your content! Cheers
i dont feel so bad watching these videos. I have only been doing options trading for 3 months. have Had mostly small losses or break evens, but have been learning. Managing my risk. I thought losing was because I wasnt a good trader. Thanks for the videos
ya know i think i did great yesterday, i was waiting for a couple hours to enter into a trade, but i didn't see one of my setups so i kinda just sat back all day and didn't end up putting a trade on. It is something new for me and i think this kind of approach to the markets is better for me, not having to force a trade takes the pressure off i think.
And there is another thing: when I am trading(in opposite to long term), I do it for fun. Well I do want to make money but but if it wasn't fun I wouldn't do it. So I somehow feel it is perfectly ok to sometimes "gamble". Not "gambling" as in casino gambling(which is also ok imo but dangerous road.. ) but like a sports game. Its not lost money its spent money. Spent into having fun with trading. Yes I do want to make money as I want to win a sports game but testing limits and sometimes fail makes the fun. Take a challenge on. Ultimately I feel if I were too afraid about loosing money all the time, the fear would impact my decisions in a bad way. Maybe others make more money, well I am rather sure they do. Thats ok. I do not argue against keeping money and risk managed - only like in sports: sometimes I loose and that's fine as long as it was fun.
Your Videos are ALWAYS motivating me Mark. Had a 15% Drawdown in October. Haven't traded for a week. Reading Mr. Douglas's books and as you said analysing what I did wrong the whole month and working on them.
Big thanks for all the content and wisdom you share... so down to earth and helpful! Luv your style ❤
your comments on creating great rules and strategy on a weekend just to ignore them on Monday are so spot on. Great vid.
Needed… I just tried to trade my strategy in a chop market and lost significantly. My adjustment is to never trade within a range and only trade towards the edges. The middle of the range is even 5 pips within. Stay out and trade the trends or the edges of ranges. That’s it. No ifs or buts. Ranges are capital killers.
Amazing video. Great points. Thank you. Implementing some of this asap;
This sounds a lot like me ...study all weekend get side tracked Monday morning fomo in and lose. Meanwhile, the stocks I picked over the weekend go on a run. FML. I've been trading for 2 years and just spinning my wheels but have learned so much that like you said I built my intuition and pattern recognition very well. The question I have is should I stick to only one strategy or try multiple things and keep learning to be a flexible trader? Example, swing trades, options, day trading, t/a trading, S/D trades ect.
Thanks man really appreciate it 💖
Very sound advice. Just what I need. Thanks Mark
That's what a'im strugling about at the moment.I needed this ,thanks Mark it was like mentoring to me.Im gona watch this video over and over again whole weekend and write it into my journal.Ones again Thanks
One of the best videos on trading ever
4:58 is fireeeee. I used to feel like that was just expected but now I treat those moments as wins and its a huge mindshift. Wins are not always found in the PL
Very good advice.
Something to think about...
Having a trading plan will help you forge the path in becoming a profitable trader. The quality of rules in your trading plan will determine whether the process has good outcome or not. Here comes handy the use of feedback loop. Now, the degree of commitment you apply to your rules will determine how much you will suffer and long you will stay in the game. You will never gonna be able to trade from a care free state of mind because of obvious reasons but how you react when things go sour is all up to you. And this applies to how you live your life in general.
Absolutely fabulous! Thank you so much Mark. This is just what I needed to hear at the moment. After 2 years of trading daily FX charts, with my own system of 9 setups that has, on average overall, a 65% success probability, and finally getting to a profit point, I've got into a pattern of having a week of brilliant trades, then a week or two later I lose most of it. Some of this I know is the market (trending strongly versus going flat - I had a great week when the Afghanistan debacle happened), but some too is me. I need to work out exactly what I'm doing wrong. I know that I rarely break rules, but I'm making some mistakes, and you've inspired me to work out what they are. I very much value your videos, so thanks again.
Yeah Bro I'm in the same boat as you I desperately needed to hear this video you know, you take 2 steps forward but then you take 4 steps backwards by this braking your trading rules thing.
Thanks Mark. This is timely. I have lost every day for the last few weeks. I don't know what's going on. Literally I wait, and wait, then see an opportunity that is good and as soon as I enter, it dives against me. Every single time. Sometimes I exit to save my account but a few times I stayed in and moved my stop because it always goes back up....except those few times, and I blew up my account. I'm sitting out for a bit.
dam i got pumped up on this video the way he said "get it done!" fired me the hell up solid stuff dude
thaaaank you!!!! you are soo inspiring!
I'm off the back of a terrible few weeks. It seemed to all start from an awful few trades and now I just can't catch a break. Main thing has been panicking too much when a trade is going the opposite way, I stop the trade, then boom it reverses. Also know I have been greedy at times, placing trades with large lot size to make back lost money. So frustrated with myself - I know I can do this. I just get sucked in to the emotion too much, takes alot to 'believe' in your trade and see it through!
When it comes to the world of investing, most people don't know where to start, fortunately, great investors of the past and present provide us with guidance
Mark, your videos are superb, very educational and motivational. Keep up the good work!
Because I was not consistent, very simple, period. Today I don't care of losing a trade as long as my risk manegement is okay, because this a part of the game. If I don't want to lose then I should never trade.
Spot on mate!
that's a great video. Thanks for sharing.
Love the way you teach. Perfectly explained 👌👏
This is very true in my case. 2 ideas fell in place for me and completely changed my confidence and perspective of the market. Thanks Mark for this.
Fantastic video, thank you!
Thank you so much for this.
my brother you change my trading still after 3 years Being in the market loosing money. this video worth million...
Every time I lose big is on a TRENDING day, I do well on a ranging day. So, how do I recognize and avoid a trending day?
You're right, definitely did not stucken to my strategy 😁
Ive never seen Mark this brutal - I like it.
Excellent lecture,
Thank you,
Thanks
thank you so much for this video
I love your videos and your advice.
Great video, thanks.
Thanks Mark, very very very accurate all you have said. Right now it´s what I needed to hear, despite that I know it´s the way.
I could read again Mark Douglas books this weekend, but you have condensed the message in a real effective manner.
I'm so new I don't have rules or any real strategy yet 🤣 I was $150 away from passing my futures prop trading evaluation tho, not anymore, 1350 away now 😓 , I gotta figure out the basics of what I don't know, I can trade (decently lol) but this was helpful, thanks. Strategies & Rules, I can do that lol
This is an amazing video. I’ve watched it about 10 times for inspiration
Stop trading (or trade a lot less), do not short stocks, sell covered calls on stocks you personally want to own=becoming profitable
Trade where the stops are and you’ll make money.
Excellent presentation... Yes we need to think what the mistake happening.. correct it then it will glow 💚 PnL
Brilliant Mark
I found this to be very helpful WITHOUT being insulting (perfect).
Trading patterns are completely useless.
The main rule you should follow, is the dividend yield Defines the bottom price and the free cash flow agreement returned to share holders is what defines the upside share price potential.
Great companies that are highly profitable trade at such low multiples, because they don’t pay a dividend.
Gold standard advice my friend 🙏🏻
wow, Mark, wow indeed.
powerful...
Great content
We need to think on a stadistical way.
i need some rules to stick too first
100% helpful.
can do a video regarding bollinger band width? i cant seem to find bollinger band width videos here. please do a video on how to use it, what it is useful for, thanks.
Wow I was expecting to get an ass whooping on this video and feel terrible, but still clicked on this because I want to be profitable really bad. This video was actually very good, and inspiring. Good to know all that time didn't go to waste
i love everything about this
FIRE VIDEO!!!!
Let’s talk about getting into a stock too early: when they hit a massive down day/trend, then getting a massive rally, getting out even or at a lost -_-
Best video ever!
13 people throw the self written rules & strategies out of the window again tomorrow on monday morning.
Needed that, I almost never keep my rules lately and had big losses. Why dont you speak about what rules are good and what rules are bad? I know everybody is different but I believe there should be some rules that are good especially when it comes to risk management
Ah yes .. lol .. most humans have there survival bias and loss aversion to work through after they learn to see and act on there edge intelligently - it’s a fun battle against your weaknesses .. best job on the planet 📈❤️
This channel is great
what are the rules please ?
Breaking the rule of not giving back more than half cost me 30k one day
RSI & MACD 🙏🏼
Ok, but, the person with the mindset that apply rules, will never find a strategy. Thinking is nothing else than breaking rules.
Mate, I can’t even spell loose.
Course is cheap but is it ant good?
If you're still a losing trader, STOP NOW it's not coming back
Ah, build discipline first.
your course is for forex or share trading?
Both. (Some concepts discussed are best applied to shares, other concepts in the course would better suit forex)
100%
:(
👉 Trade with our Sponsor Broker: Trade Nation www.financial-spread-betting.com/ccount/click.php?id=95
👉 We are seeking more contributors who can produce great video educational content about trading for our channel. If you think you have what it takes please get in touch by sending a message to traderATfinancial-spread-betting.com (remove the AT and substitute by @).
👉 It seems a lot of our viewers are non-subscribers. Make sure to subscribe to our youtube channel as we upload regular videos! If you hit the “Bell” icon (🔔) you will receive a notification on youtube every time that we upload a video on our channel. Bell icon hitters are super fans of our channel 🥰