The Biggest Lies of The Trading Industry & The Traps ALL Beginners Fall Into
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- Опубликовано: 1 дек 2023
- Welcome to a reality-check video, where I'm pulling back the curtain on some truths that the trading world might not want you to know. Strap in as I share insights that could save beginners from common pitfalls.
In this eye-opening discussion, I'm shedding light on the truth about trading. Trading myths are like little traps that many beginners fall into, and I'm here to help you avoid them.
We'll explore the trading lies that often mislead newcomers. This video is crafted with you in mind, especially if you're just starting in the trading world. Join me as we debunk myths, unravel trading truths, and set the record straight. Don't let the trading industry's tricks trip you up.
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Inside camerila candle strategy given in TSM work best in Forex as well ..i back tested and now started trading with the same.. second live trade running in profit ..thanks a lot 😇
TSM full form
Few people are saying the truth about forex. Popular teachers online are pushing false narrative. They work for the big boys.
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This is fantastic video to show to wannabes and newbies and the general population 👍
In my own experience, one of the reasons that catches people off guard & makes them quit (directly & indirectly) is the loneliness of the job. You have to be able to stay alone for prolonged periods of time. No visits, no guests, no going out, no multitasking (big mistake 🤦♂️) trading and various forms of social interactions.
This alone breaks so many people 😂
100% true 👍
It is a lonely business if you are trying to scalp. You can make good money spending just 1hr every day with swing trading,
@@fxmomotrader3606 nope! that's false and spending money is not a job just like working as a doordash delivery guy just to get some spending money, isn't a job.
We're talking about Trading as a job. Not as a side thing you sometimes do.
Plus, anyone that is a full time trader/analyst, knows exactly what I'm talking about...which I think you don't. If this isn't your actually job, why comment about something that you know nothing about? what's to gain here?
@@fxmomotrader3606 exactly, swingtrading is al u need
Very very powerful video
Thanks so much ❤
My three favorite channels: The Secret Mindset, StockBrotha, & How Money Works. Make my week complete! 🔥 🔥 🔥
another video for the collection, thanks TSM
More to come!👍
Another great video thank you Mindset
Your channel is a huge resource for the trading community. I learned a lot from your videos. Currently, I am paper trading to slowly learn about this industry and myself. Along the way I realized I absolutely have many bad habits, so I write them down and improve them every day. Thank you for your knowledge and dedication. Keep up the good work! You need to know that somewhere, someone is looking forward to your videos all the time
Very good advice to write down one's bad habits. Thanks
Another valuable material 👍
Love your work❤
👍Thanks
I am 2 years into trading. Everything in this video is 100% spot on. When I first started trading crypto I was using 50 to 100x leverage. Horrifying. A few pips at 50 & 100x can destroy a whole account quickly! Learned a ton over the years watching this channel! Thank you sir!!
How much leverage do you use now
Spot on video all about the reality of trading.Answered many questions i had about trading all these years.
Wonderful information thank you.
AMAZING VIDEO BROTHER! One of the best I've ever watched on this topic.
Wow, thanks!
Good video giving the real expectations of the market.
Great video! One thing I would add is : If you do have some good “easy” success at the start do not assume that you know what you doing. Just realize that chance is one of the factors needed to be considered in your risk management also. You can do everything correctly and still have a string of losses. You can do everything wrong and have a winning streak. The real test will be the quality of your exits over time wins and losses.
Very true!
Enjoyed your video, it was insightful and entertaining.
👍Thanks, Anthony!
My favorite trading channel!
Appreciate it! 👍
Great info.
Wow Wow Wow! I watched more than 500 trading videos till now. You explain the bitter truth of trading so nicely. This is the best one i watched so far. By the way your quality of the video also increased. It was eye catching. Congratulations bro keep it up. Need more exciting content ! ❤
Wow, thanks!👍
Great production as always I have a small group of traders in my Discord I shared this with this as this is the very message I tell them that trading is not a overnight money machine takes time, Effort and a lot of learning to really become a profitable trader. I shared your video with them in the hope that many will see the hours and work and time that go into mastering this art.
Keep up the good work really enjoy your content!
Much appreciated!
all good points. every one of these bit me while starting.
Bro your content and editing is the best in the whole RUclips , no one can match the quality you are teaching in each video , people waste thousands of dollars in some shitty courses and you are providing in open source, keep it up and I am learning each line by line 😊
He is next level!
👍 Thanks, guys!
Great video! I was a trader in UK, USA, and canada. This video is so true on most accounts. Great job!
Every beginner should watch this clip, awesome contribution to the common good and welfare.
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You cannot belive how much I nedded this video a day ago😅. All your videos have helped me so far. Looking forward to join the acadamy soon.
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You got this!👍
Awesome!
Your videos are gold. This video should be watched first by those who wanted to jump into the world of trading.
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Great video. You should do a video on just the manipulation in the market. For example, when I'm watching level II, and order flow, I'll notice a sh!t ton of sell order pouring through and very little buying orders coming in and yet the stock will continue to rise fast. The same is true for the opposite, I'll see a ton or buying coming in but yet the rug still gets pulled. It's starting to feel useless to even look at it. Or you'll see very little volume on the candle stick but yet it'll still gap up. These are the things that are frustrating me.
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The best of all times thanks for this information
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Love this guy ❤
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To everyone who wants to learn from the best,, this is the right place
Absolutely true.
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Took me years to learn how to trade. I use a naked chart with just S/R lines. Price action is all I need.
Here’s something to look out for:
As soon as the profits you’re taking aren’t big enough or good enough for you, you’re heading for trouble.
one of the better videos you've published in a while, should be mandatory viewing for all traders. keep up the great work.
Successful people don't become like that overnight. What most people see in wealth, a great career and purpose is the result of hard work
Excellent video, Still to this day there are other channels that promote the P&L challenges, 4x the account in as many months for example. What they don't say is how many years experience it has taken to get to the level of being consistently profitable, nor whether overall the trader is now in the green since day one or still digging out of a huge hole, even if those losses have been written-off. The strategies are always trading market noise, scalping order flow, trying to trade with the fast quants. They trade with large sizes, large number of trades per day, no commissions, jumping across as many assets as possible. And guess what, that order flow is being sold to the quants so they can either front run it or take the other side, stop hunting etc. With commissions, those strategies are extremely difficult to make a CPT. Its all being unconsciously incompetent. There are so many conflicts of interest.
I am a beginner Trader and thank you for the truth about Trading 😉
Much love mentor🙏
Your student Charles from Zambia
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Hi Darius
Your content surpasses any other ❤
May I ask which broker you use ? And which leverage you have found to be the optimal choice ?
I have now become a profitable trader following your success ❤
Max 1:10. I use Blackbull, so I can trade using Tradingview. I've put a link in description.
Sir, is it wise to start with a Demo trade account first?
Salutation from one of your regular viewer from 🇮🇳
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Is revolut app to expensive to trade with?
MEXC is good but dangerous because there is a time lag with the server communication to your client app. Be careful. You'll purchase a crypto future contract and try to purchase and close at market prices instead of using TP and SL settings. Let's say you go long/short and try to close at market values. You'll see the at market value in the red on the close out window while the value displayed in the chart window is green. Lost $2000. This video is correct. Low stakes and I became cocky and indulged in gambling like trading. Set the TP/SL.
THIS IS THE BEST VIDEO ON RUclips ABOUT THE REALITY OF TRADING
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True😊
Hmmm 🤔... Thanks so much
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Great video as always. Question: For quite some time now I have traded (swing trading) mining stocks, gold, silver some copper ONLY. Why? Wanted to become very astute with the primary factors that move mining stocks. This industry interest me and with world economies in deep trouble miners being pretty depressed will move hard soon. To date I have for 2023 a 52.53% return on my act., before taxes. I work full time and trade part time. Is it wise to spend time in one industry, know the moving factors well and just trade it, as opposed to trading many industries or sectors???
👍👍 Better to be a market specialist
Pls whats the name of the volume indicator you are using on tradingview
Volume spread for VSA
Even if you understood trading intellectually, psychology will always dictate your moves!
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Basic stuff really, but needs to be said.
You can't expect to become a trader overnight. It takes time, research and learning from people who have been doing it for years.
Beware of high leverage! Even if your general price prediction was on point, some whale will reverse the trend, just so you get liquidated. Outsmart them by low leverage, stop loss and taking profits, before the trend reverses.
I confirm, but it's worth it in the end.
Which software he using to make video?
If only this video was shown to every beginner trader !
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While investing isn't trading, a video bridging the gap would be awesome. Positional trading is poorly covered by most day and swing trading channels on YT; for example, finding higher time frame entries, managing trades to manipulate average price, setting stop losses (or not) and stop orders to lock in progress, and technical analysis benefits/issues. Would like to know your perspective on how to go about such things. Cheers!
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I don't consider myself a trader, but more of an investor(gambler to some), I simply DCA into markets over the long haul and hope to scrape some profits at the top of the cycle. This is not trading to me, but from what I can tell, still has potential to net some profits. I'm as newbie as it gets though, with only about 6 months in the game DCA'ing my way up.
Trading for 14years, making 4000 profit on a 1000 account in two days trading xauusd. But then i didnt learn from youtube. Nice video for people well done
4 years in and out. Still not certain if it possible
That's the purpose of a Demo account, to make mistakes and learn from mistakes.
Also, if you get in this position, you wont lose on your order. If I do a sell euro/usd at 1.9000, once I hit below my sell line by 50 pips, I move my SL a little below my sell line..
So if it went down to 1.8950, I move my SL to 1.8990 so it will be at least a for sure profit, and keep moving it the lower it goes but leave some room..
Control your emotions.
Do use what your not prepared to lose..
Trading is like flying a plane. The industry give the impression that it is like going to the atm and take money.
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This is a good video, trading is really hard, most of the educational material on the internet is completely wrong. Your broker has no desire for you to succeed. He knows you will put on average 2k into an account, you will last about 3 months.
You will either then stop or continue to loose. I now never use stops, I use reverse positions. Virtually every position will will retrace at some point, if you are wrong, trade out of your loss.
In effect taking the opposite position, you can then hold your loss, and free margin. Then wait for the market to range. Each time you see the market move in your direction, close a portion of your wrong trade and enter a position in the new direction.
I disagree regarding small accounts and how it can put people in bad habits due to it 'not being a large amount of money because you are risking $1'. Regardless of the account size, people can develop bad gambling habits and poor risk management no matter what capital you trade. Small accounts don't start bad habits. People start their own bad habits with their lack of self control, lack of planning and poor risk management. It isn't about the account size, and it never should be. It is 100% about the process and procedure, and sticking to it, your results will speak for themselves from there. Small accounts can develop patience and create a mindset where it is all about the process and not about the money. Accounts can change, and capital can compound. The successful process you develop should never change, only adapt and adjust with the constant development of the markets.
👍Agreed. Generalist self-help books often recommend that it takes 10, 000 hours to master a skill. If the newbie can squeeze in an average of 40 hrs a week of practice and learning, expect him to be a masterful trader after 4-5 years -- or in late 2028. 👍
I will save this video, and I will promise to watch it every 6 months, it will be needed to correct our mindset in our trading journey. Thank you my friend 👍
Boom!👍
I been trading for 20yrs off and on. Something I recently learned, never share your charts or your Technical Analysis. Once its public algorithms pick it up.. and will adjust their strategy to screw you over..
Inside camerila candle strategy given in TSM work best in Forex as well ..i back tested and now started trading with the same.. second live trade running in profit ..thanks a lot 😇
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Just learn 1 strategie and stay consistent. Thats all you need 2 know in trading
but you can be profitable trading... issue is the amount of profitability. i made 25K this year but i kept trading when i should just call it quits for the year.. i got greedy and kept trading and its all gone.. its like that every year... first year i was on amc and i was up 50K..i didnt get out,.,. .lost all and some.. next year im making pack to call it quits for the year if i make 25K... no and's , if's or buts..
Invest bro
Buy hodl
Stake or farming
I've been interested in trading for several months. Your videos are great, but unfortunately, I don't fully understand them - my English isn't very good. 😕
You're definitely dispelling my illusions about quick profits. Is it possible for a beginner to earn at least $40,000 to $50,000 within a year? I'm starting to try binary options now - it seems much simpler for start.
With 1000$ you won't make such amounts. With 200.000$, yes.
The Biggest Mistake is Not Managing Risk. That’s the First thing to Learn and Understand. Unfortunately I Learned that Over Time with Losing Thousands the Hard Way!
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The best advice I would give is stay away from penny stocks. I have watched half or more of my money disappear in about one day. Then comes the dumbest saying ever “ you only lose when you sell”. The old hold and hope technique.
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I was subbed to a trading discord last year. One of the futures traders was fairly new, and had huge profits consistently. I think I discovered his secret: Fairly low IQ, didn’t overthink his trades, and was always very optimistic, no matter what happened. Couldn’t believe the profits he made.
👍Very true, logical, rational people struggle with trading
I'd like to interview you regarding your trading journey and something else about trading. Are you interested in it?
This is honestly just a hobby for me, I don't really care about the money I've put in. If I make money then hooray but if I don't but if I don't then tough luck I guess. I don't do the leverage thing, isn't something I do, I hate debt. I put in money that would have been spent on a game on sale which I will save for anyway
Forget trading I want to learn video editing like your video. Megneficient video editing. Also and always very informative video.
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*Merry Christmas 🎄🤶nice I value your perspective and content!!depending on this current administration is a total failure I really have a question For someone with less than $15,000 to invest, how would you recommend we enter the crypto market? I am at studying some traders and copying their strategy rather than investing myself and losing money emotionally what's your take on this approach?*
Just buy an ETF of the main indexes and hold for years to come adding along the way your aim is not to make massive gains but better gains than bonds or bank rates. realistic returns and not losses. the nasdaq etf EQQQ or VOO s&p 500 VUSA or SPY. then there is the compounding element , time in the market is vital to feel any gains. years , years , years not 15 mins.
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New tradrrs in Forex need to remember....
You will pay the spread in and out.
You will pay the raw pricing fee.
You will pay the margIn financing fee that changes at certain times of the day.
Look before you buy!
Add all these fees into your buy or sell moves.
Do not chase or hit the reverse button they will take your money.
Be patient wait for the correct setup.
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I don't fully agree, brokers are not your friend but neither your enemies. If you are constantly losing at some point your capital becomes zero and you might give up on trading, which is AGAINST the interest of the brokers.
If you are profitable on the long run, you are obviously more likely to stay to pay fees.
I put in 100 twos years later im up 567k . No cap
surprise
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I AM up over 1000% trading is easy for people who have a mind that works oh yes and capital..
You need at least 5 years to become a good trader.
If you thought you could make millions with hundreds, that's not anyone's fault but yours.
yeyw56
There is too much dopamine in your video
lots of negative energy in this episode.
Go on, ain't you got some butterflies to stalk?
@@niro56 it is a fact. My comment reflect my honest thoughts after watching it half of the episode. I am sure that Secret Mindset will appreciate it.
How is the truth negative? Its a reality however you wish to interpret it.
Go somewhere else that blows smoke up your arse and sells you the millionaire dream
Same i am feeling
This video was bad ass, I dont care for charts but rather the phycology & story line of how they think.
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🎯... starting with small capital.. was sure with the wrong trades, not sure with the right trades.. end up losing more..
Like pokers, it is just another scam.