Why Having Trading “Rules” Won't Save You

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/+TDVdM80j...
Follow my trades, get coaching, hangout with the MFX group: www.missionfxt...
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.missionfxt...

[@yassirhassani9166]

imagine being so early the video is still processing

[@SuperFunDH]

Never front run a KZbin video .. rule number one .. wait .. actually you should just manage the view as it happens

[@patricknovak8412]

Hedge it

[@alphaomega6497]

@@SuperFunDHlol so funny

[@MoneyAbundancia]

I genuinely laughed at This comment, hahaha. Thank$

[@francislavoratti7946]

Nick is really jnspiring to hear this... my eyes are starting to see things in the chart... wow... I was using moving stochastic and moving averages as a rule to enter trades.. now i tend to ignore them and only look at the candles... my eyes are being opened... praise the Lord!!

[@danielbrink9475]

Nick Bro your Conent has taken me from being a losing trader to a 58% winrate last month, Bro last Friday i hit my first 10k day great stuff man .

[@A_Wolde]

😂 I love the way you pass out your messages, especially "if you love this video do whatever you want" dude you are awesome.

[@jorgecamara1030]

Thanks for your support for the community great video information 👍 You are the only holy grill on KZbin, ❤

[@marudona]

I'm practicing paper trading andI have been following other people's strategy with even results or with losses. Since I started following my intuition and my own "rules", in my paper trading account I'm up 40% in 4 weeks. Thanks for your videos, you opened my eyes :).

[@sanovarghese2476]

Bro trade small live accounts, like the small amount you are okay losing, trade with that amount, the real psychological aspect of trading starts there. And the only thing thats going to save you in trading is mastering your emotions.

[@jerryperwal8569]

YOU DA MAN I PRAY FOR YOUR HEALTH

[@kenlee1553]

Thanks always for such helpful videos, Nick!

[@aasuka]

Thanks for ur videos, u made me throw away all the complicated shit that just confuses me, one indicator shows bullish, the other bearish... now i just simply trade trend, support and resistance areas with proper stop-loss and take-profit. thats it...

[@CurtisThiron]

thanks for the encouragment 🌊

[@joshnoderer1217]

Just wanted to thank you for putting out quality, actionable, content that is simple to execute and understand. I wish I had found you years ago, probably could’ve avoided some of the “low” points in my education. Keep up the good work my man!

[@LainMathew]

Affirmative.

[@LainMathew]

Here's a question: Do you have knowledge of any AI for trading?

[@JenevaSanschagrin]

The top AI trading tool is named

[@JenevaSanschagrin]

aicollegema

[@JenevaSanschagrin]

I located it via

[@juandeblas1753]

This it’s Gold Nick, your the MAN.

[@waypastamped]

that was scary, my names Jarred...i looked away for one second and you say my name...

[@mrsiryeah6024]

Early Telegram Chat Gang

[@scoroop]

it's a very important video. that is what I've been seeing from the beginning of my adventure with trading - all internet gurus have this intuition and us - noobs don't have it. I see first signs of me developing it and it's fine in 1 or 2 years I will be there :)

[@overover1610]

always great to see your uploads , study time

[@shimizu67]

Been trading with real money for a few months, I'm 50/50 right now. Not at a loss and not profitable (losing and winning). I'm on par and I'm scratching my head. I'm in the process of finding the way of being profitable. I'm seeing more and more things looking at a chart, but not yet get that experience where I can feel what's gonna happen due to experience, that intuition. I know I shouldn't be watching trading videos (and usually I don't) but you made me go this far Nick and that's why I'm still here though.

[@inthezone2023]

Traing is so subjective...there are no strict rules cast in stone...the only hard rules you can have is routine rules..before you sit down to trade, what do you do...then the other hard rule you can have is to say I will only trade when the general market allows me to trade..when conditions are conducive, not choppy, noisy conditions...also another rule is to say I will trade when my mental status is conducive...or else I will not trade or I will reduce my position to meet my mental status...all other strategy based rules are subjective...the best general rule is simply to be aware of what the market is doing...is it going up or down? then look for trades in those directions

[@jonathanlee5185]

Thanks, Nick. Yes, sounds like sense to me👍

[@TeguiProd]

This is the best advice anyone can tell u about trading. Experience Preach nick u doing gods work

[@brounkii]

Nick you are the man! Thanks for your videos man you don't know how much you are helping me with those.

[@Donnaerobicover40Fitness]

thanks for this explaination..I see now that your also using diagonal trend lines..

[@rohansmith4535]

Perfect content for the start of the trading week. Just what I needed.

[@MrQVeeBoo]

fact!!. thx

[@coreyronaldmeier]

Thanks for this man! Looking forwared to joining Discord group! helpfully this coming Friday

[@MiniWhale81]

Nick, you do inspire/motivate me, especially when you say that I will lose my prop account, lol! BTW, you keep saying EJ instead of EC :)

[@jagi1484]

Can you do a video to explain how you use the higher time zones to help make decisions to trade on the lower times zones. E.g 1 day to 1 hour trade

[@stevecoombes4822]

Great Stuff. Thank You

[@J-_-S]

Im mostly trading Daily chart that way I can make much less traders per month but on daily chart they are most profitable in my eyes. Getting profit and it continues to rise week after week is the best trading to me, doing much less, making considerably more

[@Finn_Fischer]

Great Video 💪

[@olegskakowski4078]

Hi Nick. I follow your videos and ideas. I would like to ask which broker you use for trades.

[@interlectual_authority]

Thanks for your insides.

[@interlectual_authority]

@Tapprofiletowtsapnow get a job bro

[@bakemonking]

Most important thing with this 'gut' and 'feel' trades is to be extra committed to follow your money management. I lost too much money on conviction trades where i ignored technicals and money management and went with 'feel' that price will go in my desired direction.

[@dee23gaming]

I lost a lot of money trying to follow a rigid trading strategy using technicals like rigid price action and indicator signals. I would let a losing trade run because "it's just part of the rules and not all winning trades are winners. Just take the loss and try again". This doesn't work in the long run, because losing streaks happen, and it's hard to bounce back from losing so many trades in a row, taking the FULL stop out because "it's just the rules bro". Never again. Nick shows us true risk/trade management. Any idiot knows how to risk 1% per trade, but not any idiot knows how to cut losing trades short while the pain is minimal and let the winners run big. The 90% of retail traders take the full stop out, even if they see price is clearly breaking the zone where they entered. It's funny, because I just finished watching another video showing exactly this bullcrap, and saying it's what the "successful 10% of traders do". I just laughed at the bullcrap entering my ears 😂

[@Patso65]

6-12 months "profitable???." Uhhhhhhhhh....I'm currently well into deep double digit trading years and not consistently profitable. If someone can get profitable that fast, it's VERY, VERY rare (IMHO). BUT, it "can" be done. Nice video Nick, as usual.

[@harveycooper9177]

Good video

[@xavbaisden6422]

Love you trading style love your videos I’m a new trader and I’m learning candlestick pattern while implementing your trading style shouldn’t candlestick patterns be part of your foundation when trading? Topping tails, bottom entails, wide range, bars, volume ending candles, etc.

[@MoneyAbundancia]

That face in the thumbnail be like "This Sh*it serious af, better pay attention Mof*cker"

[@jerrodwatts55]

Im a very beginner trader and have weeded out all other videos but yours...because you're real, lol. My name is jerrod haha that was weird....because you even did a look at the camera. Thanks for all the videos, theyve helped a lot.

[@jerrodwatts55]

And i basically do all the stuff youre teaching us not to do. thanks again

[@jerrodwatts55]

@Clickon-profiletowtsap I'd be wasting your time. I don't have much to work with, at this point.

[@aureliomoreno7083]

This guy changes his system each week, crazy.

[@smolshamer6072]

Uj last week was hellish in an intraday sense. Was successful with every other instrument except that.

[@akits856]

checked

[@jonathanbraswell6308]

Agree good video

[@KierzolSLU]

Most stupid argument I hear is that: "but the indicators woes telling me to sell/buy. And when I see their entrys I'm just asking myself: "where the hell you see entry confirmation on chart"? Thanks to you and practice on live charts, I've learned how to read price action in like 70:30 on my side. Greetings from Poland sensei. 😁🍻

[@waceshel6846]

nick my friend try to stop this bad habits when you talk and i love so much your videos thanks 🎉

[@wymandyer6261]

id go trailing stops with your example in the green

[@jackgalloway8314]

Nah. It's essentially, but the twist is to manage your risk. Obviously technical analysis helps but price action "rules' make sense all the time only until after market shifts?

[@William.-.]

Perfect answer

[@jackgalloway8314]

@@William.-.My conclusive answer from three years and a year gap in the forex markets from the start. Right there.

[@William.-.]

@@jackgalloway8314 same with the research I did and the trade journal I been taking trying to forward test the risk management strategy. Curious how you manage your bias and your optimal risk?

[@inferno3080]

Thanks

[@kevinjohnson3521]

Brilliant!

[@kevinjohnson3521]

@Clikmybiotowtsapme- did you accept Jesus Christ as your Lord & Savior!!

[@alirezazamani8488]

I never thought i would say this but after 4 years of losing (had winning months and weeks in a row but in total loss) i gave up on trading unfortunately i realized this market is desgined to make u lose and thats how they make money, I will never win longterm.

[@w.w.w1848]

When a child gets his hand bitten by an angry dog, will he not be scared of the next dog unknowing if it is a polite or also an angry dog? Each trade is unique and the reason we fear losing is because we have lost in the past. Accepting this is and eliminating all expectation is a fundamental requirement

[@ZainHDHQ]

Love that

[@Mark.Kenlock]

Nick, I have been following you for a while and as neurodivergent person who consumes a huge amount of information online, I have to said that your approach is really really really good and that is what naturally come easy for me to understand. The big issue in following you is that your teaching/style/approach, goes against pretty much what 90% out there teaches. And in my case it is causing me quite a severe cognitive dissonance until the point that I feel like I have to stop watching your videos because is bringing back to a demoralising mindset and at the same time it makes me feel excited because it does really resonate a lot. If I could back in time, I honestly would have loved to purchased your course and have only your information running into my brain. But unfortunately I have been spending all my saving in other material which has made me even more confused than how I was before starting my journey. I really wish you could have a much bigger exposure out there in podcast or any videos associated with other big names in the space. So that other people would come across you instead of ending up like me, in the midst of nothingness. However, I hope I would be able to join your full course in future. Have a good one 👍🏼

[@lovelaugh7299]

Why do you force a strategy on yourself if it doesnt resonate with you? Maybe there is something better

[@Mark.Kenlock]

@@lovelaugh7299 thanks for the reply. My main issue I believe is due to my condition… I can recognise each single candle, pattern, formation, anything theory that it can be possible to learn… I have mastered it!! However, I my executive function are somehow impaired, in which it makes my thoughts process overwhelming and it doesn’t enable me to move forward. And the dilemma is that unfortunately my brain can’t accept the idea that if there are geniuses out there why nobody has figure it out a holistic and logical mechanical way to trade? Instead, the information overloading doesn’t allow me to function and apply logic with reasoning. I just ended up thinking: wouldn’t be easier if I just enter a trade without even looking at the chart with 2 trades long at 2lots and 1 trade short at 3.5lots all together… and then if the chart goes long, I enter 2 more long trade at 3.5 lots and 1 short trade at 5 lots… and if the trade goes long again I close the first short position, I open 2 more long trades at 5lots and 1 short trade at 2.5 lots. You leave everything floating and close at net profit or you rebalance the lot size towards short position.

[@patricknovak8412]

Or instead you can stop consuming other content and strategies (strategies are subjective, you paid for courses to teach you strategies but what you really need is to learn how to manage risk) and start watching Nick more and learn from his teachings and free education and value he provides here on yt

[@ラッセル9728]

In neurodivergent myself, I can never use anyone’s strategy. I need one that can tend to my needs. I’ve been lucky to find one that helped me out ALOT.

[@vilius2295]

Nick, could you please advise how to manage trading while working full time job? Thanks

[@GetEmGaming]

wish this guy was my dad

[@gftdtrading]

I mean I know for sure it’s apart of your rules that you don’t need trendlines or indicators so this take is hard to hear you say bro. But keep being consistent and helping others 🙏🏾

[@patricknovak8412]

How come you chose purple colour for your background? Quite unique, havent seen it before. Looks dope tho

[@winthorpe6594]

TY

[@5P4C3V01D]

Question: Nick, what do you think is the best data to look at except for historical price action?

[@malthus101]

This is the HARDEST lesson in ALL of trading.

[@sift8386]

nice vid

[@auriliomike2199]

Hi, what broker do you use? And what leverage?

[@nimbus000]

Do you still hedge, Nick?

[@J-_-S]

One question: why are you capping TP and not moving SL into profit zone? That way you likely to make more money when breakouts happen (for fresh traders). Yes intuition and expierence build it up but intuition is an emotion and emotions isnt consistent, what makes you profitable is expierence.

[@lovelaugh7299]

Intuition is a calculation of ur subconscious mind that is very accurate with its feedback because the information its working on surrounds on knowledge that you filtered through and allowed to become part of your mind. Look at the biology and you will see that it literally has a filtering process that u consciously think and decide about. I can give u a simple proof. Ever woke up feeling bad? And you dont know why? Its the feedback of ur subconscious mind about information that it processed through but u actively were not involved in it. You have to go through urself and unsolve this "bad mood", this result, and u will discover that it perfectly makes sense because u forgot to pick up a package for ur buddy 2 days ago, which again follows the parameters of ur morals and ethics that u allowed to manifest in ur mind. What im trying to say is, if you have a sharp mind and the information you allow to mold ur mind is benefiting ur progress, u should absolutely trust and follow ur intuition bc its much smarter than we can actively express. Now the issue starts when u think u solved a problem and it get u a step further but it limits ur potential in that path and to reach ur peak u should go 2 steps back and turn to a different direction but thats another story.

[@agentofenhanced2428]

Intuition IS experience

[@moormaidrie]

how long have you been a trader? i'm a beginner trader still learning about trading in the nfc community.

[@carlojimeneztrader]

"We’re all scared. You're traumatized because you think there’s still hope. But Blithe, the only hope you have is to accept the fact that the money is gone. And the sooner you accept that, the sooner you’ll be able to function as a trader is supposed to function. Without mercy, without fear, without remorse. Profitable trading depends upon it"

[@darrellJojo4990]

Hey Nick do you monitor your trade until tp hit or you place a trade and just leave it like that maybe even go out and chill because don't want to lie monitoring a trade is stressful

[@pallejrgensen8567]

Hello Nick. I have followed your channel for a long time. You have now stopped hedging your trades? Previously, support and resistance were your primary trading signals, and in this video, your experience is your priority. What will be your next priority?

[@harvoa6785]

Experience includes support and resistance. It doesn't replace them.

[@lozyl956]

Personally I allow my system to play out for the whole sample of 20 trades, and then if it's not profitable I would look to modify it. Nice balance of statistical significance and adaptability imo.

[@frenkie-go8wo]

What are you trading?

[@mohamedelgalaly5997]

Hey Nick..is there anyway I can copy your trades ?

[@mohamedelgalaly5997]

@Tapbiotowtsap-now hi ..are you from Nick team ?

[@KS622]

Rule nr 1: get experience

[@UnemployableFakeGuru]

Markets move random, complete noise. Quantise the noise. Make money.

[@UnemployableFakeGuru]

Love you bro...

[@jollydarrenmarin5460]

How to separate intuition to gambling mindset in trading?

[@lovelaugh7299]

By reflecting honestly. U know the answer

[@titodalla1]

If the system is good like 45% a 1 to 1.5 you end up winning all the time

[@WillOfICT]

"Bend the rules only if you have learned them; break the rules only if you have mastered them."

[@malthus101]

you too, be quiet.

[@ラッセル9728]

I disagree. Having a trading plan that’s been backtested for 6months is the way to go.

[@pettersyrstad9050]

is there any commonalities in the people who end up not getting profitable from what you can remember?

[@lovelaugh7299]

I think they quit

[@mike1017]

I've found one of the best rules to apply to trading is to never use more than 20% of my account. If my account is £1000, I'll use around £100 for trading and then use the other £100 for hedging when the market goes against me. Even though the market moves against me (and winds me right up) it shows me kindness and mercy when I apply my 20% rule and always allows me to make a profit in the end.

[@Toxic_men69]

Can u explain in more detail

[@mike1017]

@@Toxic_men69 If I open a short trade with 10% of my account and the market goes up against me (I'm watching the stochastic indicator and moving averages across all the lower and medium time frames, at this point, trying to determine if it might be a big momentum move or just a pullback) I will let it run and then when it gets to its peak and starts to drop back, I use the other 10% to keep taking trades back to breakeven making some nice profits along the way. But I have been caught out a couple of times when the market has had no intention of returning any time soon and keeps going and going, and if I've had 60% of my account in the market, it has wiped me out ("... pigs get slaughtered"). But if I've stuck to my 20%, I've been safe... so far. When I said I've been caught out a couple of times, I meant recently. Over the last four and half years that I've been learning to trade, I've blown out over a hundred small accounts by over-leveraging.

[@metalchips]

I tried to have rules last week and blew the F out of my account

[@Pch_00]

I disagree but i still like watching your videos

[@lovelaugh7299]

I like to widen my horizon. Why exactly do u disagree? i would very much appreciate ur perspective

[@Pch_00]

@@lovelaugh7299 It just comes down to my strategy. I use support/resistance but i wont enter a trade just because it got to my support/resistance unless i get my entry signal. So basically if i wasnt sticking to any of my rules in my trading strategy id be entering positions that have a much lower probability of playing out. also if i lose a certain % of my account i stop trading for the rest of the week even if i see an A++++ trade setup i simply won't enter the trade because even an A+++++ setup can go against you. Having rules helps with staying consistent in my opinion.

[@Againstthegrain8084]

You say higher time frames, but I’m curious which timeframe you use.

[@jayjayoniyama537]

D1 for drawing zones And then H4 and H1 for confluence He also sometimes goes down to like the 5 min

[@Againstthegrain8084]

@@jayjayoniyama537 thanks!

[@ColinDresser]

Rules were meant to be bent

[@ColinDresser]

@Tapprofiletowtsapnow learn to trade …

[@Andrew.Here.]

How much leverage do you have? On that account that you post on the free telegram chat.

[@CodeEstLeXIII]

Noice

[@thrdworld5596]

So true. Lol. 💯💯💯

[@memedia2657]

Support & resistance > institutional order block with price action market structure and 100+ more bullshit.

[@viper9178]

I bet you don't have 10k$ gambling

[@sorax2871]

pls i want 235usdt to pay off debt ....if u want it back we can discuss that also but donation is appreciated

[@SpaceZylo]

Walmart version of Andrew Tate

[@5P4C3V01D]

sum: entry_pos = price_in_zone + intuition_good