Are You Wasting Your Time With Your Trading? [Pareto Principle / 80-20 Rule] (Thought of the Day)

[@TheArtOfTrading]

Great points man! I've been spending the majority of my time this year working on my psychology and self-understanding and self-discipline/consistency, and that has improved my trading far more than studying setups or strategies or searching for opportunities obsessively. Obviously strategy development is important, but I reached a point where I realized that it wasn't my strategy that was the problem haha. Great advice :)

[@Duomoinitiative]

I think it would be the same for most people, but it takes a good amount of self-awareness to realise it and try to fix it! - Nicholas

[@Shawk95]

Nicholas Excellent advise. Normally one doesn't hold oneself accountable for how the day was spent. I will start auditing how much time I devoted to non-productive crap and will cut it out. Thank you bro.

[@veliem3935]

I'm so irritated with myself for not trusting my own ideas. Cz often I'd hear something from YT that I had already thought of then I use YT to confirm my ideas... Thanks for helping me with this realisation cz the staff you're talking about I've been thinking about but some I give a pass... Great video as always Nic

[@dozeyy]

Just as it really got interesting, you stopped:D You're not rambling like some say. It's always quality!

[@Duomoinitiative]

Haha I appreciate you saying so. If I let myself keep going I’d be there all night! - Nicholas

[@vinitshakher4390]

I love this video. Is there any video you have where you teach about how to do fundamental analysis. Please share the link if you do. Great video. Love your lessons.

[@jamesjacques8326]

I definitely neglect my range trading! I find it too difficult and instead tell myself to spend time trying to just get my trending market skills to a decent standard and then focus fully on range trading. Even though I know it's probably the wrong mentality, I still struggle to break the habit!

[@CiprianVatamanu]

Or like in automotive - 80% of defects are from 20% of the problems on the operations areas - good correlation ;)!

[@SasanFX1]

Hi, Good question, I think 90% of the Retaile Trader do not know what they are donig and they are just waisting their Time, But I order to get it right you have to Waist time, Time is a Key Element in all the topics you want to Master, Thank That was good

[@sambhavjain1943]

Really wanted to hear this . This is really Great Thank you

[@JuJuForexTrades]

I really enjoy your videos. Excellent classes on trading and on life.

[@theadrianduran]

Hey Nicholas, I just tried signing up for your 4 part mini series but after typing my email I got an error page. Would like to try it again when it is working! Thanks for the awesome free info. Cheers

[@katingaman]

The 80/20 rule he is talking about is the "pareto principal" If anyone ilwant to know more, check some videos. Great content as always, thank you!

[@qu1sk]

helping everyone is like puring sand in a open hand.. you are a very humble person , for me you are a male Linda Raschke :D and i think there is also something dangerous from helping people when they dotn deserve it = you steal from them the oportuinity to solve the problem on there own , and thats whats succesful traders(human beoings in general) are made from.... and thats why i love your vids , you are talking about a problem in such a way that i have to figure the solutuion out by myself . But i personally think its a mistake to answer the emails of each noob

[@GershyJazzy]

Many thanks for your videos, really invaluable information. The market selection course is very useful.

[@yocecil3538]

I don't trust any KZbin trader who flashes their Lamborghini or roses in the background! Seriously, great video as always. Thanks :)

[@Ekaxas]

Good info and thoughts on trading. Thank you for sharing. I was waiting to hear you mention practice / back-testing as a good way to spend time on improving trading skills. I guess it wasn't on the list of topics to talk about today. may be next time. Thanks again for taking the time to share your thoughts.

[@OkyCapriatto]

Big fan here. Thanks for all the invaluable knowledge.

[@qu1sk]

it is true , i personally trade only one scenario on my chart ( i am a renko trader) and when i break the rule or i go for the second trade in a day i got rekt . i believe that taking more then 1 trade a day is already overtrading if you are a day trader .

[@PinkPoo]

Can you do a video about overtrading, ive realised there arent very many videos about that online, thanks a bunch

[@lombardo141]

I only trade one market and that is the Nasdaq Futures. Every time I try to trade something else I fail miserably. So I just trade Nasdaq futures...until it stops working no need to change.

[@z4mbon]

your maker selection service is amazing! LOVE IT.

[@drleo6409]

YOUr Examples are good to hear.. It was all good.

[@Duomoinitiative]

Thanks! - Nicholas

[@stephenwonghongweng4298]

If anything I need to cut down my trading. I always get wiped out in Tokyo and funnily enough, earn 80% of my income in NYSE session ( taking into account the day's losses).

[@Seafox0011]

Some nuggets here. Thanks for the exposition.

[@Hsk736h]

Hi bro, what's your opinion on creating your own ea for autotrading? Do you think it's a good idea?

[@ipood1000]

This was very useful information!!

[@milesvanrothow2067]

Amazing view.

[@lukehenriques5205]

ah wah suh wid apple ah microsoft my ting deh

[@francisalatak]

so on point, as usual

[@mediahackz90]

Is it okay to trade 11 pairs as a newbie ??

[@merinajacobson4334]

How much time should i be in the screen trading?

[@Kuziai]

20mins a day trading. Couple hours studying

[@hjagann]

Really help

[@murtazasana9536]

Quality information

[@futuretrading1422]

Awesome video bro as always👍👍👍👍👍👍👍👍👍👍👍👍👍 if I be honest I don't know where to start actually I was learning to trade Forex little bit more than 2 years then I jump two options and now I'm in between options Forex Stokes and stock options so now I try to find which one suits me better because with Forex seems like everything what I do I keep losing money and I don't know where is this problem coming from!

[@caiusugochukwu9142]

Choose one market. Forex or option. Then focus on one pair... It could be EURUSD, or gold, or usdzar.. just one pair then apply your strategy with money management n trade.... Do it for one month

[@Shawk95]

I am moderating a Facebook group with 20,000+ members. I enjoy it. But I have switched off the chat. Otherwise, I would be deluged with vain messages and would have an army of haters when I would not respond.

[@MULTIRAGE456]

80% of my loss comes from 20% of my folio. Help

[@adriandoe1090]

WOW.

[@justgjt]

Read Van K Tharp's works.

[@chescarino]

should i stop drinking etc then?!

[@gabrieleingrassia2703]

I totally wasted my time, after 3 years of study and a lot of practice I came out with a good strategy based on scalping and hedging that allowed me to have discrete monthly income with a limited investment. Now that they made these regulations on leverage in Europe to use my strategy I should have at least 100,000 € in my trading account.

[@duanerackham9567]

I really like trading (crypto currency) but my minisucle capital, makes me feel like I'm wasting time. I might make a really good trade and get 2~8% but the profit is less than a Happy meal. But if I put much more in it would make me an ineffective trader(the thought of losing would mess with the psychology of trading)

[@duanerackham9567]

Hopefully learning from now will help when I can just throw 10k down and not worry about it

[@koteswarris8949]

@@duanerackham9567 hey its been 3 years, how are you doing now?

[@duanerackham9567]

@@koteswarris8949 I was in college at the time 😅. I still trade occasionally, but I find buying and holding is the best strategy, especially for someone working a regular day job as I do now. I've diversified into stocks and have a much better position size now. I'm glad I was getting these lessons early. Time in the market over timing the market. Anyone reading this: Slow and steady, invest in companies and projects you believe in and use. DCA in and hold. Have a small amount for the risky plays and watch your cash balance for the dips. Good luck to everyone

[@Jayyy_Wav]

First :)

[@Duomoinitiative]

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[@stevecunningham427]

A bit like my sex life it's always over in 2 minutes

[@Duomoinitiative]

😂

[@chescarino]

should i stop drinking etc then?!