having a rigid trading strategy is dumb af - here's how to fix it

Trading is risky, and most people lose money.
My Free Telegram Channel is now private, and has over 60,000 members, and can only be exclusively joined at this link: t.me/+TDVdM80j9lGfaWiP
Follow my trades, get coaching, hangout with the MFX group: www.missionfxtrading.com
FTC/CFTC Risk Disclaimer - Please read this so you're 100% aware of the extreme risks associated with any type of trading and investing.
I’ve said for years and years and years - trading is extremely risky, and most people will lose all the money they try to trade with - even the people who follow the information I provide. Trading is a skillset that is difficult to learn, and I make it look easy because I’ve been trading for 7+ years. As with any high performing skillset in life, trading is NOT easy.
Your likelihood of consistently making money trading is abysmally low, whether you learn on your own or whether you follow the things that myself or others teach.
It’s like becoming a doctor, many people start pre-med and medical school, but only a tiny fraction of them succeed and actually become doctors. The average success rate of trading is even worse that that! Becoming a doctor is obviously not for everyone, and becoming a trader is obviously not for everyone, too.
I (and my company, MissionFX, LLC) make NO guarantees/promises/express direct or indirect representation that you’ll achieve any specific result trading, regardless of whether you’re following my free or paid content.
I’m just some random guy on the internet who is sharing what’s worked for me - I have no clue what will work for you because there are a million contributing factors that will determine whether or not you will make money trading.
Do NOT take into account any information that I share anywhere on the internet as the basis for your trading decisions. I’m not responsible for your success, nor am I responsible for your failures.
Read the full risk disclaimer on my website below, so that you’re 100% aware of the risks associated with trading - then you can make an informed decision as to whether or not you want to continue following any of the information I share (or continue to pursue trading in general).
HTTPS://www.missionfxtrading.com/terms

[@musaninlebesi50]

You're insane, your simplicity is literally genius. Good advice right here..

[@jackgalloway8314]

Dude. Suddenly am clear. Trading for over three years. A lot of understanding. Knew there was something I was overlooking. Pleased to be on board, sir.

[@jamell7167]

Two videos last then 3 days!!💪🏽 Keep them coming!!

[@lorensaunders6034]

This is a VERY GOOD example of trade management. You have such great content about real trading.

[@moondevonyt]

while he's got a smooth way of breaking down trading concepts, i gotta say some peeps might argue that intuition can lead to emotional trading which is a no-go but mad respect for Nick and his perspective on the game, feels refreshing to hear someone emphasizing experience and gut feel it's all about finding what vibe works for each trader, right? keep dropping those knowledge bombs

[@noleftturn5964]

Intuition and context ability are crucial, and demonstrate why using indicators or hard rule sets don't work. Trend based strategies work great until the trend becomes a range and you get stopped out of every trade. Because they don't understand context. Same for any trader following any system they build. A set of further intuition and contextual rules are complex but can be built onto your strategy as a hard rule set.....

[@One-way]

This is where time in the market and tracking results is the only way to fulfill that need. 😊

[@One-way]

VERY valuable insight in reevaluating “why” and it’s outcome. I’m learning quite a bit about trading psychology. THANKS Nick ! YOU help give me confidence to trade (paper first of course)…. THANKS !

[@banginzaza]

Great message 💪👑

[@RANDOMIZE-qk2vk]

Thats actually very useful information. Thank you!... I was getting somewhat annoyed by all the bs where people just make millions and trading is sooooo easy.

[@AlanParkerStudios-vz1kd]

Thank you... you speak out what i always thought.. its about to get the feeling about the charts and make onw decisions-- THANK YOU

[@ArnoldsDesign]

Thanks for the idea of keeping a photo log of all trades. I'm going to try that.

[@psycheisssdelic]

great vid Nick, cant really find anything to fault here all good info. i've watched a few of your vids, mostly dealing with FX. wanted to know if you could perhaps make a vid of your thought on stocks, do you approach things differently. i've been trading for about 4 years myself but still always learning, like to hear how more experienced people view things. cheers

[@ForexRevolution]

to learn the basics of trading takes... a week to most people. to learn the phycology of trading takes years.

[@NickShawnFX]

overall you're not wrong bro

[@davidreuter9320]

Nice sentiment on trading, as much as we need rules, every trade is its own entity, and need to be treated as so! I only looked a trade review tonight of of a loss I took very early in my journey, it was a screenshot with notes, my notes pointed to every reason I lost that trade except the right one, now I have more experience I looked at that trade and knew immediately why it lost, and not for one reason mentioned in my review…..like you say, collect the data, review that data even 6 months on an you see how far you’ve come!

[@richhands5269]

My three favorite channels: Nick Shawn, StockBrotha, & How Money Works. Make my week complete! 🔥 🔥 🔥

[@NickShawnFX]

nick shawn is okay i guess, tbh he is too cocky at times but its whatever, a decent trader i suppose

[@Mellow4202]

​@@NickShawnFXyou may be a little cocky, but you're competent and that's all that matters to me. Thanks bro.

[@agentofenhanced2428]

This is definitely a bot from stock brotha and the other dude, i see this comment in every single video. Like dude stop, both those channels dont share anything but paid subscriptions

[@veic]

Don't forget ImanTrading - thank me later.

[@ce8539]

really? i have a pretty "rigid" strategy and i've been using it for almost 3 years now and it's been serving me well. not to say it wont fail eventually but so far so good. NQ 1 minute scalping, 9 EMA and ATR are my indicators. if price crosses from above to below the 9 EMA and end below with more than 75% of the candle being the body i place a sell order 1 tick below the low of that bar. my stop is 10 points if ATR is 10 or above and my target is at least 10 ideally with a trailing stop 1 tick below each subsequent bar. stop 1 tick above the entry bar if ATR is below 10. inverse that for longs. i love your content btw and it definitely has helped me trade better, especially incorporating the trailing stop into my strategy and aiming for as much as possible with each trade. my average winner over the last 29 months is 12.1 points and average loser is 8.9. 62% win rate, i had 11 losers in a row last year as my worst losing streak and my best win streak is 17.

[@user-xb6qh6qj8h]

thank You for all your work what u did for us. How u fight stress? Just curious.

[@firekid5790]

my no. 1 forex mentor! thanks a tons!

[@captainjohansson5019]

Nice shave

[@Stuclinton]

Thanks for this Nick I'm now profitable and have been for sometime after three years. Ive never kept a journal all the "gurus" say you have too you won't make it blaa blaa. Well like you say if you keep doing the same shit it's now become easy to see set ups

[@walkerpercy8702]

Thanks for the video. Im not sure what you mean by rigid vs clearly defined. For ex, you have a clearly defined plan of shorts at major tops and longs at major bottoms.

[@sorinbroscaru]

Yes, my dude helped me understand that is ok to close earlier, is ok to exit when it does not seem to work out.

[@NickShawnFX]

context is everything broooo

[@melo6856]

Hey Nick thank you very much for the great content, what do you think about TSLA just touched a good zone of support?

[@NickShawnFX]

i missed my alert to buy by like a 2% move haha

[@mixalismanousis939]

Nice vid nick 👍👍

[@fxmasterwongi]

Have you even watched the video?

[@disstnc]

You're great teacher

[@NickShawnFX]

Trying to do my best lol

[@jamell7167]

What's up nick! Would you ever do a support and resistance bounce sell/buy off the daily time and if so how would you go about it, because I'm trying to hold mine for days, just want to pick your brain 🧠 see what you think about it.

[@czech-street-workout4193]

Good shit man and I think u resemble Johnathan Ferro of Bloomberg

[@TROB214]

I literally get more outta these videos, more than i got outta IM live.....

[@NickShawnFX]

LMAO

[@TROB214]

@@NickShawnFX Nick are you hiring now, what do you need how can I be of service

[@ForexRevolution]

MANY thinks that trading is just a work any job.. or an hobby , ACTUALLY trading is a way of life.

[@kevinjohnson3521]

“Go with the flow” as Rickson Gracie once said, he meant to say flow with the go but lost in translation. Actually makes more sense in Jiu Jitsu though!

[@NickShawnFX]

YES

[@kevinjohnson3521]

@@NickShawnFX are you a born-again Believer in Jesus Christ?

[@chrisvddrift2595]

Trading is like cooking bacon: uncertain at the start, but with practice and intuition comes the wisdom to turn trading into a rewarding feast.

[@jaybendano4043]

Hey Nick, I see that you don't use hedging anymore? Can you please explain why you switched to using stop loss after all?

[@bustillosbrandon100]

How do u get ur chart to Zoom out like that? Do u need longer screens?

[@lars5727]

Tbh he's right, 50% chance with a 1/1 if you add a simple strategy you might get a 53% chance. So you are profitable. Easy as that

[@paulnyagini]

Being profitable is not easy as you claim.

[@timchurch2390]

Lol not that simple at all.

[@explorster]

It is pretty easy. If your not profitable it is because you are being greedy. On the ES I only go for 5 points and done for the day. $1200 a week.

[@paulnyagini]

@@explorster you know real PROFITABLE traders don't claim they are profitable.

[@boboiboy9350]

@@explorsteryou should open a big lot size for that profit in a week for the point you targeted. Which is really risky in the long run

[@apathyreview3964]

Isn't adding to a trade like saying that since the dice landed on black last time this time it's more likely to land on red? I mean at that point where you add it's still just 50 50 right? No matter what it did before? Also is it actually 50 50? On what time frame does it become more random? Like is the 1 minute just noise?

[@jerohamromero]

Bro I'm up 5% this week using your 'stupidly simple' strategy! hahaha. Thanks again!

[@LifeOfJowl]

one thing ive noticed is that the goats of trading always do simple stuff

[@NickShawnFX]

generally yup

[@SGuardUp]

Nick , I appreciate your time thanks for the video man trying to become profitable

[@banginzaza]

​@@NickShawnFXI love your skills! Could you do a flip on an index pair like US30 NAS100 or DAX? Like another $50K-100K account or something? Those are motivating and fun to watch! Thanks!

[@oridod]

Hi Nick :-) Great stuff! I have a question.. Do you avoid taking trades on "red" news days? NFP etc.. Thank you for showing it all 🙂

[@BrandonDrives]

Probably not the best idea to enter trades during NFP, especially USD pairs.

[@marvinfoo4838]

which broker is the best nick?

[@jerohamromero]

As always. Thank you Nick Shawn! You inspire me to document my journey and I'll use KZbin and Facebook to do that. Thank you!

[@NickShawnFX]

good bro, very good

[@jerohamromero]

@@NickShawnFX once I'm already doing well (which I will 😊) you can feature me in your channel as one of your students from your free KZbin content. I wish I can buy your program, but Philippine currency is just to low compare to USD which makes it expensive for me hehee. Thanks again Nick!

[@One-way]

@@jerohamromero BEST of luck ! Find YOUR rhythm and you will succeed ! Keep track of your trades and the results is very important to help you learn to not be emotional. You’ll see where your emotion wrecked the trade. Again, BEST of luck !!!

[@jerohamromero]

Thanks bro! Yeah, I'm also tracking my trade andhave my own trading journal :) @@One-way

[@Dylan-fp1ue]

Hey Nick, when you do your trading day/week/monthly statistics. Do you count trades that you added onto winning trades as winners. For example if you won a trade off a setup you had, but you added 2-3 trades into that trade. Is that 3-4 wins logged onto your trading journal ?

[@NickShawnFX]

I count a win or loss based on single outcomes, not all the multiple trades within the outcomes

[@Dylan-fp1ue]

@@NickShawnFX thanks, got 3 wins on one outcome, felt like I was inflating my journal 😂😂. Thanks again Nick.

[@jithinantony8790]

Man can u tell wat is gonna be the effect of brics on forex market

[@benmorrish1]

I used a rigid trading strategy that makes me money 79% of the time.

[@BreakoutHunter]

Simplify it even more. Trade Order block to Order Block. Prices ALWAYS goes to where the liquidity is.

[@BreakoutHunter]

@Tapbiotowasap-menow ya, no. Scam.

[@benza8946]

You should specify, IF you use a dumb ass rigid trading strategy, yes you are going to lose money. If you use a nice and robust rule based trading strategy you are going to be fine, if you stick to the rules. Been trading almost 2 years rule-based and it's been actually amazing and so headache-free

[@NickShawnFX]

the more constraints you have on a trading approach, the more of a pain in the ass it is to actually execute predictably (my opinion)

[@benza8946]

@@NickShawnFX That's key in fact, very few rules: 1 entry, 1 exit and 1 stop loss. It doesn't get any simpler than that. Predicting where price goes is impossible anyway, so the best we can do is take it easy

[@monsterfnm9679]

nick goes crazy

[@capitalstockholm150]

Were can I find all your live trades ???

[@jeffjones7331]

Is there an offshore broker that does not require bitcoin?

[@Kloutkulture]

Facts Nick someone was asking me for a definite way to trade the openZ they were claiming their trade failed and what rule they could use. I’m like dude the market is dynamic and every situation is different.

[@kevinjohnson3521]

LoL - painfully obvious to us somehow they cannot see the obvious!

[@Kloutkulture]

@@kevinjohnson3521 I’ve been trading 4 years and gained a following. I try to be lowkey. Once you trade awhile and are profitable it’s hard to speak with unprofitable traders we just literate don’t think the same. When I take a dumb trade I admit to myself it was a bad and dumb trade. You tell an unprofitable trader that and they think it was the market or the smart money out to get them

[@NickShawnFX]

hahahaha SAME

[@NickShawnFX]

LOL

[@Kloutkulture]

@@NickShawnFX they don’t know what they don’t know LOL

[@Jack8D8D]

Managing a trade is essential. My question is if you would recommend one book on trading what would it be?

[@markhopkin.]

Trading in the zone.

[@matthewli3858]

I have a question… when you enter a trade.. do you focus on that pair until it reaches the outcome ? Or do you open a few different pairs and trade them simultaneously?

[@NickShawnFX]

Multiple pairs.

[@matthewli3858]

Thanks ! You the man

[@FighterFred]

So a mechanical strat buy-sell-buy-sell etc with RR > 1 should be profitable? I doubt it but will check.

[@NickShawnFX]

um, i don't think that's what i said in the video

[@FighterFred]

@@NickShawnFX It was a sentence. So I checked, it's in fact profitable but only for certain assets on longer timeframes. Shows that entry condition is not the most important.

[@hulandark3824]

You hit the nail on the head Nick. Literally just wrote something almost exactly like this in my trading notes after taking some huge losses last week. That what unprofitable beginners such as myself really need, is not really the conditioning towards certain patterns of behavior, but rather the FREEDOM from restricted patterns of behavior. This is the paradox that makes trading so different than any other skill, like medicine or driving, ect. Since a pattern of behavior, a strategy, or even a TEMPERAMENT that would be extremely profitable in one context, might very well be detrimental in another.

[@NickShawnFX]

Yup, it's all in the head. Enough experience helps

[@timchurch2390]

Yeah but you don't really know that because you don't know how to trade. So you might be totally deceiving yourself by saying that

[@sdftyuiouytrew]

1. see what price does 2. add in boxes where it suits you after the fact good strategy ser

[@wyattgouldthorpe1880]

He went to a random chart and then replayed. He didn't know what was going to happen when he was making those decisions.

[@akulabourne]

Forgive me for being late to the game, I've watched quite a few videos Nick has made. But I have one burning question. Which broker is he using that allows for hedging in forex? Thanks, folks.

[@BrandonDrives]

I'm not sure which broker he used for hedging, but multiple brokers allow it as far as I'm aware, just google it. Depends where you're from which brokers to use

[@rikstar.]

Hi nick i how do i get into the discord server?

[@ambiencelectronica]

What will happen to forex currencies if and when the dollar is no more or BRICS finally applies the single system? Are forex traders expecting a quick demise of currency trading or what? Curious.

[@NickShawnFX]

Then I guess we'll all have to go trade stocks or something idk

[@boboiboy9350]

Fiat is failing. Its time for crypto to shine ✨

[@FrankyIzumalakm]

Why not just pick two key levels, buy or sell, then just hold it for a week or so?! 🤷‍♂️ 😂

[@NickShawnFX]

because TRY IT and lemme know how it goessss lol

[@sorinbroscaru]

And watch price ranging for 3 weeks at the same price level. Check GBPUSD 1h for past 20 days. ( 2nd of August - 22 August 2023 )

[@TallyHD]

Okay, everything cool, but....How can you look at your charts with these background colors, without getting headache?

[@NickShawnFX]

I have no clue, it doesn't bother me at all, lmao

[@inthezone2023]

Trading is over 90% intuition.. startegies or edges can be invalidated anytime by the market...

[@theworldisbeautiful471]

Somebody finally said it. A rigid strategy itself doesnt make any money. If it was so simple, everyone would run a trading bot with the strategy and everyone would make a ton of money. Wait everyone?

[@jamesnaumovski9316]

how many pips do you usually target per trade?

[@BrandonDrives]

I'm guessing usually between 50 - 300 pips. But pips is completely irrelevant in my opinion. Each trade has a different pip target depending on the context.

[@walzdaudi946]

i only trade major support or resistance zone where price has jumped alot and my tactic works perfectly fine actually. But obviously my experienced intuition plays a big role on where ill enter and if i am going to enter a trade. i also get out early if price doesnt react like i planned setting my stop loss really tight, often getting out on 5 usd+ if it comes back to the zone

[@NickShawnFX]

Yup, same

[@walzdaudi946]

@@NickShawnFX ive learned so much just from your free videos man. I am truly greatful, thanks buddy you are my trading idol.

[@nikosolikos]

Wha5 is your average duration for trades? They seem long….

[@NickShawnFX]

they generally take around 5 to 7 years lol maybe a week or two

[@yanman9450]

A rigid, mechanical trading strategy is dumb af, however even with subjective trading, you absolutely have to keep your risk parameters in check.

[@kevinjohnson3521]

100% based upon my backtesting, not live yet!

[@NickShawnFX]

hahaha yes

[@stevensteven3417]

You see suport zones where there is actually none

[@atouchofa.d.d.5852]

👍👍

[@VikasKumar-xz5zd]

I got very demotivated😔😔😞

[@johnddonnet5151]

He's right that you don't need a strategy if you have all this practice in you, but strategy makes it easier to track your trades and market in general. If you do 50 random things everyday and you lose money, what did you do wrong? But if you do 1 thing everyday, you know exactly what you did wrong, you can actually gather data, assess and fix your flaws

[@SkunkCorrigan]

Yes, indeed.

[@SkunkCorrigan]

A question: Can you recommend a good AI for trading?

[@apathyreview3964]

The times I've made money it's been through what seems quote obvious winners. When I've lost its been through trying to follow a strategy to the letter.

[@dee23gaming]

Same here, bro. The moment I try to follow a specifically designed strategy, I always lose. If I trade like Nick, I make money 😂

[@apathyreview3964]

Hey nick you might not call it a strategy but it's still a strategy. It's just an unclear subjective strategy lol. Still love you though dude 😂

[@nikosolikos]

I think Nick was a philosophy major….

[@ForexRevolution]

trading actually folds lots of philosophy inside

[@NickShawnFX]

know thyself

[@rinzler9775]

The market loves taking rigid trading systems and smashing them to pieces.

[@NickShawnFX]

I laugh every time someone tells me they think they have it figured out.

[@user-sb4wg4uc2k]

Nick is my best friend now

[@user-sb4wg4uc2k]

Sure. How is better?

[@AbdelrahmanMoussaAbuOuf]

Gold content

[@abhishekbhaidkar8246]

any one still using hedging he taught ?

[@TROB214]

i will be soon....are you? if so how's it going?

[@afreload]

😅

[@jackrumble8313]

Why does this guy look like Lex Luthor

[@marioissa5319]

Show us the real account results

[@Stuclinton]

😂 Trust me Nick makes decent amount doing this

[@madyarghazinejad730]

trade is not random you are fooling :)

[@szkfury7041]

Ya bald boy make money online

[@jake4551]

Revelation 3:20 🙏🏻 "Behold, I stand at the door and knock. If anyone hears My voice and opens the door, I will come in to him and dine with him, and he with Me".

[@NickShawnFX]

AMEN!

[@kevinjohnson3521]

@@NickShawnFXyou are a Believer in Jesus Christ? If so, Hallelujah!!!! Praise God!!!!

[@Mortequal]

Knock knock, who's there?

[@VMDUNIVERSALLTD]

Thanks Nick, 8k today gu gy your telegram ❤

[@mrask803]

Nick would you try to pass a funded account ? Ftmo, myforex funds or something 3 ? It would be interesting to track

[@ukaltravels]

Can I contact you directly on telegram? Have a question if that’s okay?

[@NickShawnFX]

[e-mail] is the only place to get in touch with us

[@mostafaelbaz4327]

Request no.1 Please nick talk about scalping 🥲