What Makes a Great Trader?
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- Опубликовано: 25 мар 2016
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What makes a great trader?
1) You need a technical edge, a system that puts the odds in your favour.
2) Money management - You need to understand risk and be able to manage this ongoing.
3) Psychology - You need to learn, understand and be able to apply trading psychology 24/7.
You must have all three to trade successfully and they're written in order of importance.
You must also learn each aspect in the order I have written them. You can be a master of trading psychology or money management, but if you don't have a technical edge you won't make money.
95% of retail traders never overcome step 1, this is why so many fail.
+Ray Solice Hope you don't mind if I ask 1-2 questions :) A system based on technical analysis or fundamentals or both? What's more important? What do you think about Forex? Are commodities "better" for a beginner? Thanks!
+tom 262 Thank you so much! Really appreciate it!
ottl2 Q1. Daytrading = Technicals, Position trading = Fundamentals / technicals. Q2. Trading is very personal, who can say which market will suit you best. You might find a technical edge in oil while others struggle and do better in forex. Markets have different personalities; humans have different personalities. What is the financial risk of trading forex vs commods? An amateur poker player doesn't start on the high rollers table, they learn their craft sat on the cheap seats playing nickel and dime stuff. To succeed one must first learn to survive.
Ray Solice
Thank you! Makes sense :) So are commodities more risky? Because of the higher price change per tick? Thank you! :)
What kind of system are we talking about?
You’ll know you’ve got it when you evolve spiritually from trading.
Zen
Steve jobs
@@harshgangurde7616 gambled on alternative healing and lost
There is nothing "spiritual" about trading or capitalism. It's about earning money.
@@no_more_spamplease5121you're very funny,
2:52 The most important thing. A: What you do with your losers and B: how your portfolio is constructed.
develop a process, system, entry stop out take profits plan. Follow ur process, keep in mind ur risk management. Log ur trades.
What I love about the ITPM is that all the mentors made so much money in their careers it seems like they don't need this as an income. It seems that they just do this to be doing something. I mean $30mil profit in one trade! No snake oil being sold here...
+Thompson ..., you are spot on! ..., and this is exactly one of the main reasons we hire them. They don't need the money and we all do it because we can tell the truth and not have to deceive. It works a dream. Read this article that went up on Linked In last week. It explains a lot about the criteria at ITPM of being hired as a Mentor. This is why there are so few of them..., because they are a very rare find! www.linkedin.com/pulse/you-can-talk-walk-anton-kreil?trk=pulse_spock-articles
If it true, u will do it for free the course
@@gorgetteadelaide7058 nope, because if you came to this FOR FREE you will not invest the same attention and attitude towards it. It will just be another free course u can take for a laugh. But if it's an investment you're attitude towards it will be different. You know you've paid for it so you'll make sure you get as much as you can from it. cheers
@InstituteofTrading I've never tried the share market but more or less retired aged 38. I still work because you need a break from travelling. The present compounding of inflation is hurting my savings, which various QEs have already damaged. Therefore, I'm forced into trading, and it's going badly but learning rapidly.
@@gorgetteadelaide7058 Nothing of value is free. that is not sustainable.
Fantastic video. I've been to a similar seminar hosted by Anton a while back and highly recommend it.
This information and experience is priceless. Listen closely to this video time and time again. Everything resonates with me!
looking forward to meeting Jason thursday, seems a real down to earth guy
How was it?
Jason, do you ever place a hedge instead of taking a trade out by your stop loss? ie open a hedge and wait till the currency comes back and take the hedge off and let the trade go back into profit?
Is there a way we can download the powerpoint presentation that was shown in this lecture? Thank you. Cheers.
Loving the videos and will likely buy the forex course / mentorship program in the future.
I have one question though that Im struggling with and hope you can help me out.
I notice that Im subconsciously still not at ease with the negative balance protection policies with even the top brokers which influences my systematic trading process negatively.
I understand that all in life comes with risk but how reliable is NBP in most cases?
PS: you guys are a major source of inspiration to me and Im sure, many others, keep up the good work
Whats the music theme song called at the start of the video
One day... I'll be a pro trader.
TheSushiandme one day.... have you started yet?
It takes time to be a pro.
a year has gone. how are you doing?
Most likely wiped out
One day you'll be a .. . Pro-Ste-tute . . .
Actually a good video.
I didn't know what I wanted to do later because I didn't know what there was to do. The system forces us to waste decades going to school.
I noticed price fluctuation between franc and pound as a kid in the 90s and thought one day maybe I'll learn how to profit from it but I didn't know it was a real thing and I could sign up with a broker and trade without being a bank employee until a few years ago... So I started late at 30 in 2017.
I find your material very useful,and as a prospective trader am very keen to under go training from your institute and am wondering how I can get training from my end of the globe......
#Ask Anton, first i want to say thanks for al, and i seen the foundation a retail should learn,... Al I have learn are technicals.. And psychologie, and patience, but... You bring me at another level Anton,.... its hyper complicated bro, is there a hope i understand how this industrie works before i leave this world...?
on the east coast and we have no wind -- we're due north back to canada. Jib is as tight as she gets. what should I do?
Intro music?
I've seen fire. I've seen rain.
its true what jason sayd that the natural instinct is to Hold loser too long and cut winners too early im trading for about 2 months and im struggling with that problem
+Bolta Hard habit to break. I think the key is really controlling emotions and truly... truly accepting the pre determined loss. Because if you have truly accepted the loss u can let it go. Crazy thing is though when we r afraid of loosing we hold on and actually loose much more. And learning how to scale out of winners in a pre determined way also takes plenty of patience. Most people say 3 yrs of trading to be able to start consistently making money. Up until its like paying for college. That's how I see it anyway. Good luck to ya..
Thanks, and great words!
Bolta Anytime..
+Fakepranks TV the chance you learn to fix losses and keep running profits is very low. i know of 2 possible ways that work 100% : you split your trade to 1:2, 1:3, 1:4 risk reward and learn to wait , so after you fixed 1:1,1:2 , you will be comfortable to wait für 1:3 cause you already made money
for losses : if you trade with mt4 or mt5, buy a risk management tool, f.e. you set a 1% loss , or max 3 loosing trades in a row etc, the software doesnt allow you to trade anymore, you cant do anything, slap your notebook against the wall, cry,be angry..wont help, cause your risk settings are on the server of the risk management tool provider. thats the only way to survive
It could be more realistic if he had shown his worst trade too. Finally he is trading his own money which is more suitable to have trading career
Hi Anton maybe you should add a profile picture ,make yourself more recognizable.
Good vid
Top Ralph
Do banks still do prop trading nowadays?
Hey Anton/Jason,
I am a Bsc Finance student from the University of Nottingham. Is there any possibility to view the PPP online?
+Jeswin Ernakeril No
Where can i buy a sweatshirt like that ?
Seasame street
You made 30 millions, why on earth do you need to have a lessons like this?
Uroš M They don't do it for the money, I think it's more about a legacy
Uroš M he made 30 million for the company that employed him. To be honest, he prob made 500k to 1 milli per year. He still needs to work...
The reason for that is trading is boring..
He doing this to build his own infrastructure. I bet he is one of the institute shareholders and this is business. They pick and choose the most talented trader across the people's that join their course to actually help them to trade on behalf with their own money. They are gathering their own soldiers for the war in the market. This just my opinion after all. Sooner or later they are gonna create a hedge fund company with all this talented traders in it. Money will never be enough. More money is more buying power. Cheers.
Instructions unclear. Going all in on SHIB!
Is there a minimum amount of money that you can trade with to start trading. I am a first year economics student and really would like to start having a go. Obviously being a student money is very tight. Any suggestions?
Itpm suggests about 10k£ to start. Me personally id suggest you to use CFDs, since its easy to understand and very comfortable to use. Just try to dont overdo it with the leverage CFD-brokers give you.
to be accurate. ITPM has a set minimum of GBP10,000 as a deposit in a CFD trading account in Europe and Asia. For U.S. $15,000 + with at least half your exposure as Options exposure in order to gain leverage. But only if the marginal benefit of doing so over having a stock position is evident. Otherwise no point. Just have a stock position. Vast majority of ITPM traders are outside U.S. (globally) and use CFD's.
I'm a day trader in US and we can't have less than $25,000 in our account to be a day trader: www.sec.gov/investor/alerts/daytrading.pdf If we do over 3 day trades in a week they freeze our account. So all day trader's must over $25,000 in their accounts.
NGE0001 I actually do both and also swing trading. I have about 75% funds is for holding and 25% for day trading (and sometimes swing trading if the market is slow). I actually get more money if I buy and sell because the market moves up and down throughout the day. If I hold I don't get much profit because inflation and dividend is not so much.
NGE0001 Yes your way is very safe. Actually I don't pay broker fee. It's my profession so I don't need a broker to help me buy/sell stocks. But I do have a large percentage of stocks I hold for dividends.
Why blur the trade?
+Stefan Jagger so you don't get to see it unless you physically go to a seminar.
it took over a year to make less than 1R
hi
I'm 15 I've been trading for almost 4 months and have learned a lot, I am sure I want to do this profesionaly what can I do?
+WolfyGraffiti our education will leapfrog you years ahead of your peers - www.instutrade.com/education/
practice and learn more
you are a smart guy...
How’s the trading going now?
come to Cardiff uni!!!
+GeorgeTunez come to London?
im due a trip I suppose haha
Were not due a trip a Cardiff. Come to London.
+InstituteofTrading Hi, I'm loving the videos.I noticed the traits of a trader aspect in this video. It states that you will be required to rise at 5am every weekday. Are they're referring to full time traders? If one already has a full time job in another field, then this surely wouldn't be feasible.
yes at an investment bank or hedge fund as in if you become a full time professional trader, not a part time retail trader.
I will surely fail as a trader, I get sleepy every time I look at the stock charts. I’ll take my set salary like the rest of the sheeples, and just be happy 😂😂😂
The thrill when you've got your own money on the line quickly wakes you up
That sweater makes me want to throw up.