I'm like 6 years into "Wanting to earn a living by trading". In that time i have made money and lost money. I have now got to a point where i have a plan for 1 trade a day. I have now found my strategy and I stick to it daily. Some days i don't even trade.
@doggies.will.be.doggies2 жыл бұрын
same here!
@MPlain2 жыл бұрын
TRUTH 1 good solid trade a day. 1 good plan Wait for it.
@MPlain2 жыл бұрын
I took 2 trades today the first was at 7:36 PST Gold sell 1720. Closed that at 7:44 at 1715 50 lots = $5 per $1 = $25,000 And then because it had bounced off support i immediately bought it again and rode it right back to 1720 Closed just before 8:00 Pocketing just under $50 k in less then half an hour. Yes there was a sell opportunity here to take and i should have. Lost an opportunity for another $4 So why did i not take it when i was pretty sure it was there? Well i had already taken 1 speed trade on a hunch that support had held. Chasing the rabbit. just a little bit. I did not want to get caught up in chasing that rabbit. LOL. seriously. yes... in hind sight there was a win there to be had. BUT..... my mind state was in chase mode. Stupid that chase rabbits lose their $.
@Alejandro-db2xj2 жыл бұрын
Same
@Villlxn2 жыл бұрын
I turned $47 into $400 in 1 week and lost it all in 3 days
@charlesbabu58452 жыл бұрын
Most traders fail because they're not aware of the ONE rule.Trade only ONE currency pair,ONE time frame..ONE trade per day.Do this and you will be amazed on how your trading will improve.
@RotterStudios2 жыл бұрын
This is where I'm at. NOTHING I do is working. Trade after trade goes against me, get stopped out, beaten down, blew up my account many times. Keep thinking if only I had more capitol to go through the swings...but I don't know....I'm sure I would lose then too. I'm fed up but I want it to work. It's been daily for 9 months.
@whoaitstiger2 жыл бұрын
Why do most traders lose? 1. Too much size. 2. Too much size. 3. Too much size. 4. Too much size. 5. Too much size.
@apathyreview3964 Жыл бұрын
I think there is a certain gift in having no other options. It's this. Do or die. There is no quitting.
@lightkirsche2 жыл бұрын
it is the mind and fear and greed that keeps the trader from taking profit and wait until the pain threshold of loss makes the person conscious and at that time the trader sells. That is why most people lose money in the market.
@SupaPoopaScoopa2 жыл бұрын
I stuck with it through the years, as I could see I was on a trajectory of having less red days to green. And my mistakes are obvious psychological ones. Still have more red days, each month, but I did just have my first green week with a 5 day streak! The discovery this week was to generally just to be more patient more selective and have more breaks and let the trades show themselves. It's interesting but extremely large trades make me trade way better as I'm way more selective.
@yorassleap2 жыл бұрын
what helps me is understanding what it will mean, a life of finicial freedom and pride is worth even 10 years of frustration your vids are really inspiring im so close to figuring it out thanks for your vids
@paulmosca43512 жыл бұрын
I can relate. I have the habit of measuring what I'm learning with my equity curve. Learning is fun. Learning is sometimes missing a perfect entry or cutting losses faster.
@Bubs027110 ай бұрын
This is the perfect description of trading. An introductory explanation. Everyone who wants to start trading should watch this.
@MalibuJamie2 жыл бұрын
Amazing how you nailed all of these internal struggles each and every one of us has to contend with. 👍🏻
@davidprice92656 күн бұрын
You just have to have a passion , and a will to get better , i've been doing it a few years , and i come from a trade background , and realize , that the mad bull (apprentice) is not going to be as good as the teacher , but will be, if one constantly shows up to have a go , The results that you want are in the things that you don't want to do
@elwoodpalmer7202 жыл бұрын
most traders lose because they are not trained properly for most of them and then it is a psychological issue, most of human beings are not ready to lose , retail trading is a probabilities game , strategies are not important , most of traders will not follow one strategy and will not have a good trade management. Give one strategy/ one financial instrument and one time frame to 10 traders you will get 10 different results. 90% or more of people will never be able to reach success in retail trading because of the wrong mindset and it is extremely difficult to achieve and it does not matter what kind of trading they use, swing , day trading, scalping, stocks commodities forex
@LJPpro2 жыл бұрын
This is the best answer among other great answers here. Well said, sir
@renebleu87112 жыл бұрын
This is it. Has nothing to do with technicals that’s the easy part!
@emmali22652 жыл бұрын
Yes Mark. I love trading and I love this channel a lot. I have been trading shares for more than 2 years, currency 1 years and 3 months. Started trading indices this month in July 2022. Now, I love trading indices. Lack of discipline and patience cause me losing a lot of money. I have been developing discipline and patience by reading long story books during the trade or waiting for a trade. and it works for me.
@mytz-m7d2 жыл бұрын
It's always an issue of RISK MANAGEMENT and that the DISCIPLINE MUSCLE must always be taken cared of. It needs constant attention (hard lesson I learned after a long time of market inactivity/forced long breaks).
@johnnymnemonic1369 Жыл бұрын
Yes, what really resonated with me was the bit about it being easy not to appreciate the accumulation of skills and experience from spending many hours at the chart and living through market movement, even if most the trades that I placed weren't successful.
@ezrasitali7575 Жыл бұрын
Great video! You have no idea how necessary this video was for me!
@m.dickinson4362 жыл бұрын
Mark, you are not just a great trading mentor, but also a very wise teacher. Thanks man.
@ta976832 жыл бұрын
At the end the strategy is like everything in life . Whatever you decide to do for a living, enjoy it. So i would add another piece of advice, don't chase the money. It will come eventually. Sometimes more sometimes less. But you will get your reward in joy.
@icemannn54532 жыл бұрын
Ok so here is a solution for struggling traders .....you need an entry specific to the pip...you need the amount of risk specific to the pip....you need an exit specific to the pip ...then you can back test your strategy ...this will show you your results 100% accurately ....now the hard part follow the rules in live time ...NO DEVIATION from the strategy because you know it's profitable ....good luck
@apathyreview3964 Жыл бұрын
You are so right about small returns lol. I just did that 5 minutes ago.
@igorbarsowski23802 жыл бұрын
Yes, this is it. Thank you Mark, you always makes great videos.
@LucretiusEldritch2 жыл бұрын
No edge, no risk management and no emotional composure to actually trade according to a pre-defined process for any extended length of time.
@tomekch2 жыл бұрын
You are the best. Thank you for your lessons
@macd-impulsetrading2 жыл бұрын
its hard at moment last two weeks been tuff for me i was doing well before that
@feeleash2 жыл бұрын
It's like what they usually say, for everything, learn to lose better! Nobody is a magician and holds tarot cards or looks into his glass ball, we just need to turn each fall into advantage.
@garrykimovich2 жыл бұрын
The market is the most cruel and sadistic entity in the universe. It always knows exactly what you're thinking and will go the opposite way until you cry uncle.
@NishantSharma-tr6xl2 жыл бұрын
hehe..so true
@ivanradusic29182 жыл бұрын
Mark thank you so much for this amazing lesson as always you do. I follow you 5 years. You are amazing teacher. I like your energy 🙏👏👏👏
@wctucker22 жыл бұрын
Really enjoy these videos and appreciate the honest assessment
@rockstarjoe57252 жыл бұрын
best channel for traders man
@lightkirsche2 жыл бұрын
I love this channel. "I have to love trading"
@ftsetradersteve27422 жыл бұрын
Try this idea.... If you can't make money consistently at 10 pence per point on an index or maybe 20p per poiny on a ftse 100 share then why would you increase your size....!!!
@robertinoEVIL2 жыл бұрын
the most traders lose because when we buy, is going lower and when we sell, its going higher
@NishantSharma-tr6xl2 жыл бұрын
haha..Mark will definitely mention this next time
@robertinoEVIL2 жыл бұрын
@Madolite emotional decisions
@The.RenaissanceMan2 жыл бұрын
The opportunity cost point is spot on. Could I be finding other opportunities to spend time on to get me to my goal quicker? Am I more suited to finding other income streams? What makes us different from those blokes you see in the bookies?
@sousams37972 жыл бұрын
Mark wht is that volume indicator on right side of the chart
@gholamhosseingorgin47992 жыл бұрын
Good job as always. Thanks alot
@agnimitrabasu34602 жыл бұрын
Vert insightful stuff, thanks
@geeking92682 жыл бұрын
Lack of extreme focus maybe?
@ssekiddeibrahim96252 жыл бұрын
Much appreciated sir
@9702533214dk2 жыл бұрын
This video is inspirational to me, I am at Max Effort-No Result stage and it's really frustrating, but thanks for this video, it's has uplifted my mindset. Thanks again
@MPlain2 жыл бұрын
Slow it down I suggest doing the following Trade M15 Use H1 as a guide Can you see a trend on H1? If yes you have something to work with. now watch M15. What you want to see is M15 retrace against the H1 trend. And you want to see M15 return to trend. Put an EMA 9 on your chart. When M15 crosses over it AFTER a retracement. and holds it for 1 candle Then enter your trade. This is not perfect. Knowing where support zones are helps. In this case where the M15.... H1...zones are. These are the charts you are working with. Don't let too many charts confuse you. This is about capturing the mood of the moment. What is going on in the market within a few hours. so... your whole trade will probably take place within a single H4 candle.
@MPlain2 жыл бұрын
You can use M5 and M15 for faster trading options. But do not expect to break the bank here I trade gold. A lot. no trend... no trading. I only need one decent day a week. Even with 2500 invested you can win 100 per $1 gold move. 2 of those is a days pay for most people. So... embrace the i want to get a days pay out of this. not the lambo in the driveway. I started with 30000. i lost 27500 of that. i took 2500 and turned it into 25 k a day withdrawals. That DID NOT happed quickly. Be happy with winning anything. Make one good solid setup. trade it when it happens. do not rush it. If you want to set up another one ok. but take your time with that. this is not a race. the market is not going anywhere. and rushing kills. The #1 lesson i learned was SLOW IT DOWN. #2 lesson i learned was WAIT FOR IT #3 CONFIRMATION. At least 1 candle going your way...AFTER your trigger. the when to close the trade part gets fun. the retracement may not be over. just stalled out for now. so if it fails to break the last structure point on the retracement then RUN. If the retracement was going up then you have higher lows and higher highs. You want to break through the last higher high.... but also the last higher low. hard to explain that perfectly. its an experience thing. holding trades and letting them ride is a harder skill then learned when to take them.
@apathyreview3964 Жыл бұрын
It's funny I was earning in an hour what I'm now just starting to "earn" in a day. But I'm saving increasing my account and working my way REALISTICALLY to a point where I can buy more lots or contracts or ounces whatever. And here is the kicker this is on a paper account. Okay I'm a coder so all this paper trading is going into bot research but still I am very cautious. Leverage is a b#tch and can mess you up if you don't understand it. As can swaps a day other things. I want to work out the pitfalls FIRST.
@aldopercussion6422 жыл бұрын
Maybe Market it is efficient and there not really an edge to take advantages and make money.Only brokers and Market makers do make money
@burcubeldir93912 жыл бұрын
best motivating video ever thanks
@Hsk736h2 жыл бұрын
Thinking trading is about charts and not maths?
@MPlain2 жыл бұрын
How many days have you had where you turn on your platform you make a few trades and win small $$$ and then you get caught up in it and boom.... chasing the rabbit. bye bye wins and end the day with a large loss and frustration. What are you doing wrong? Problem 1. Overtrading. Rushing it. Problem 2. You were doing something right..... not right enough. but you were winning. Why did you stray from that? If you can see what you did wrong. You are on the right track STOP DOING THAT.
@SuccessfulOzzie2 жыл бұрын
I blew my account 4 times, resorted to these Facebook telegram signal group guys, blew my account 3 times trusting them, spent money on robots, they kept executing loss trades with random big lot size and blew my account 2 times...... I've now retreated to spending hours and hours on a demo.. it may take 2 years of practicing before I can use a real account again
@MPlain2 жыл бұрын
reason 1 Chasing the rabbit reason 2 FOMO
@ukspreadbetting2 жыл бұрын
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@ukspreadbetting2 жыл бұрын
I'm sending your feedback to Mark, maybe he can elaborate on certain aspects in future videos. The problem with binary trading is that brokers make the prices and you have no way to determine how fair the pricing is. Also in Europe the product was abused so much by rogue brokers that it was 'outlawed'. As for useful indicators I believe Mark also like the VWAP.
@krzysztofsosnowski1862 жыл бұрын
The essence of trading
@Anfield-bn3wg2 жыл бұрын
I really love trading, but at this point, I'm struggling with believing in my strategy. I want it to work because i really like the idea of price action trading. It's a PA strat that goes off of 6 confluences to enter a trade and works so well for tons of people in my group but for some reason I can't seem to catch a win. How can I know if the strat is right for me? Im tired of strategy hopping. I just don't know what suits me anymore. I love the idea of taking one trade a week but on the other hand I feel so jittery like i need to at least trade 1 time per day.. hard for me to be so patient. Any suggestions? Should i change starts and move to a lower tf with a more rule-based strat?
@charlesbabu58452 жыл бұрын
Judging from what you've written..i can tell that you haven't found the strategy that fits your personalty.Clearly one trade per week is not enough for you.You can try researching on a new strategy that can go well with the one hour time frame.I personally find the one hour time frame like the sweet spot of all time frames.Good luck
@stevelobs66012 жыл бұрын
because they believe in entry points and magical patterns.
@balaw84662 жыл бұрын
Wanting to be a millionaire within 1 day is a reason why most traders lose.
@bagchaserbunduki31812 жыл бұрын
I love this game and true
@rikirex21622 жыл бұрын
all those words just not to say and explain what really happening behind the curtains
@moytorress2 жыл бұрын
Gems 💎
@romewasnotbuiltinaday2 жыл бұрын
Surprised he didn't have listening to cnbc and bloomberg's talking heads on this list.
@Boxedwaffle2 жыл бұрын
why do most traders lose? because they don't have an edge.
@BlackRain_2 жыл бұрын
Because they are trading on a phone app whilst sitting in Burger King.
@jaguillermol2 жыл бұрын
This. Like the rest in life, most people just listen to people without really thinking and really looking for themselves.
@charlesbabu58452 жыл бұрын
@@jaguillermol True
@Abcccdwe2 жыл бұрын
🔥
@manaking2176 Жыл бұрын
stop reading my mind!!!
@KeinNiemand2 жыл бұрын
Becouse they trade instead of investing long term.
@stevensteven3417 Жыл бұрын
Everybody who starts out today, you are at least 10 years to late to the party and you arrived to pick up the trash and do the dishes.
@crimsonpirate17102 жыл бұрын
They lose coz they listen to people like greg secker et al!!
@fxkwabena22062 жыл бұрын
reason why traders lose is the market is rigged and no ones knows the next move
@NicReelgeel2 жыл бұрын
Couldn’t we take advantage of that if we’re smart enough though?
@renebleu87112 жыл бұрын
We increase our chances through studying technicals
@frankharald42502 жыл бұрын
Boss , Out of ten intraday trade, I take the right trade 70 percent of the time, I’m I growing as trader, ? Someone with experience can also answer me, please