Why People Suck at Trading - Ross Williams
HTML-код
- Опубликовано: 14 май 2024
- GET MASSIVE DISCOUNTS ON ITPM ONLINE PROGRAMS CLICK HERE;-
issuu.com/instituteoftrading/...
ITPM Online Education Programs CLICK HERE;-
www.itpm.com/education/
ITPM One to One Trader Mentoring CLICK HERE;-
www.itpm.com/trader-mentoring/
ITPM Seminars and Webinars CLICK HERE;-
www.itpm.com/seminars/
In this presentation, ITPM Senior Trading Mentor Ross Williams discusses why so many people are unsuccessful in their trading accounts (and in life!) and drills home the important steps you need to take become both profitable and successful.
|| Filmed at the ITPM New York Super Conference, September 2018 ||
My most frequent ways of losing money: (1) Impulsive trading (2) Over-trading.
Fomo is number one
@Rehabeam Angula Nothing wrong with taking profits, you can never guess the top.
What you could do is not sell everything in one go, but slowly sell..
over trading was my first lesson.
All of these comments are true and super simple but what governs this is doing the work to maintain a clear mental state.
over trading for me
4:25 copy 4:45 treat as business 8:10 manage risk 11:10 Stan 18:25 funni 22:50 attention to detail 25:00 spreadsheets numbers 30:30 critical thinking 33:45 where to start - process 38:00 risk management 39:25 no paper trading 40:25 emotional subjective trader 43:25 what is a market 46:10 skin in the game 4
👏🏻👍
unbelievable putting out content like this for free is crazy...Guys, you are bringing this game to another level. I appreciate what you are doing and what has been built by Anton. Thanks a lot for such a joy watching Ross at best.
Some recognition is a nice upside for what we do. Thank-you.
@@InstituteofTrading i totally 2ns that opinion ... cheers for the content mate
Unbelievably valuable content, but it also has an ROI for ITPM. Critical thinking.
@@InstituteofTrading I also appreciate your videos. I am in the blew up my capital club. Can I tell you just how badly I fucked up. 50% of capital in daily bull 2X oil ETF. Realized I fucked up as its dropping, so tried to hedge, 50% into 2x daily inverse ETFs. On the day I bought the inverses I bought at market instead of putting a limit on the trade. Both ETF doubled in half a day, then dropped at open the next day. I'm the stupid fucker who bought it at the top of that very nasty spike, one that wedged squarely up my ass. Fast forward a few weeks. Guess what? all of the ETFs are liquidated, bulls and bears. Then I borrowed $37,000 from a line of credit and pumped it into decent sounding stuff at a COVID discount. If my idea works out, I will be back where I started in 6 months. If not bankruptcy might be my next stop. I don't know if you could use my stupid mistake but you should use it for your students if you can.
What you're saying is true, yet what % of the population takes advantage of this pure gold even at no cost to them? What does that tell you about those who consume all of it and still want more? They are living on-purpose. Those are the winners.
I use the zodiac astrological cycle to come up with my trading ideas.
lol, but it might be a better and safer method than 90% of traders have
That’s why your name is clown
Most people wouldn't even understand what you mean by that huh? Im trying to learn it
that's exactly why you're here =D
Sense of humor is a sign of intelligence! Thx
Thank you ITPM and Ross Williams! 🙏 Thank you RUclips-algorithm.
Even if you don‘t want to become a professional trader, there‘s so much thoughts and insights to be gained from these lectures.
This is good and solid theory. But implementing and living it is the key. Thank you for this!
this guy speaks exactly like anton.
they been programmed to WIN
there are ALL the same tone in speech mate :)
and maybe of the same mindset too. Hence they come as a bunch.
Lots to learn from them none the less!!!!
Anton doesn't pepper his narrative with "Fuckin" every half minute. Not cool because it portrays himself as an entertainer not a serious lecturer
@@robertbrawley5048 One has to make allowances for Aussies
Because they're both real professionals and been through the bullshit. I respect them for that
I gotta say that this presentation is actually one of the best "self-improvement" type of presentation I have ever seen, and I have, unfortunately, seen a lot. And this isn't a self-improvement! I got no business with trading, but principles and advices layed out in this video are easily applied in any field. Mad respect for the institute, you guys are doing broather good than just teaching proper trading
The ability to recognize one’s personal shortcomings is the first step to change! I bet you’re doing better now than you were 5 mos ago when this comment was originally posted
@@ic_sharp you bet my man
I: "I am going to high school."
He: "Do something else."
😂😂
hahahhahahha
This probably the best breakdown of trading i have ever seen , thanks Ross
I love the way these guys talk..they're a bit like special forces guys I know. No BS, suffer no fools, accept reality and do what needs to be done.
“The conscientious trader will always outperform the lazy genius.”
yes he will
One of the best lectures on trading realities that I have ever seen
He is Anton without water
😂😂
🤣🤣🤣🤣
LOL I thought it was some inside joke until I clicked a video with Anton holding his bottle with drink the whole presentation!
The sound of Anton’s gulps
This is more information than you'll find in any book on this subject, and for free. Priceless content! thank you, the true value of this is not lost on me
Moving average crossovers were developed by the market makers to facilitate their approach of STOP LOSS HUNTING.
I've noticed that even if I take a trade in the opposite direction every time a moving average crosses over, my success rate is still about 50%.
The part on confirmation bias and investing was so spot on.
One of the most valuable trading video I have ever seen in youtube. Watched more than twice.
this man said bubbles like bitcoin, meanwhile bitcoin is at $72,500 at the time of this comment. he gave good advice to not be cynical.
Definition of market: The money weighted sum of peoples expectations.
Definitely going to rewatch this on at least a monthly basis.
Ross, thank you for making me wiser throughout my trading journey! We shall meet one day...
Very good topics on trader's psychology. One remarks here:
(35:55) having an edge by programming - yes, sure! But it’s more about handling numbers and testing ideas than be a genius at programming (a basic skill is still enough to be able to verify ideas - but you need the trading context to know what you’re looking for…). The analogy of having any programming skills is like the ability to read and write but you don’t have to be a poet to have an advantage.
Great speaker! I love the concept of diversification. Can't wait to apply your basic principles to my trading strategy.
What you should know is that whatever strategy you apply, such strategy is never going to be flawless. Every trading strategy would have a losing streak, and it’s crucial you learn how to deal with it. Basically, you can deal with this through backtesting.
Exactly. He is spot on. A consistent and repeatable process based in facts.
"All the procrastinators please leave now". That was my favourite bit.
all procrastinators be like .....later..... ;D
I'll do it tomorrow.... still hasn't left 😄
I truly appreciate you guys putting this content up for everyone to see
That was one of the most amazing presentations I've ever seen on the subject. I'm gonna send to this everyone who asks me about dipping into trading. Massive respect and appreciation to the guys.
yeah, no bs, solid lecture
Man. The institute are awesome. Amazing content and even better for free....no need for University when you have all these lectures and seminars from highly knowledgeable and experienced traders. 5 star to the channel and if you ever come to Australia I'll be booking my seat
Excellent stuff. All very true. From a fellow Goldman's alumnus. Well done Anton. 8 years after passing the ITPM exam my K% is back to my Goldman days...Thank you
I’m a freelancer and was on a gig. Called in sick- flew to New York overnight. Attended this conference, went to the bar tab, hopped back on the last flight out of JFK. Back in time for work the next morning. Macdonald caught me yawning during his talk and gave me a pretty big death stare haha. I was so tired. No hotel just a backpack with a change of clothes and a notebook. Only food I ate was at the event itself and the airport. I thought for sure I had traveled the farthest and was putting the most effort into being at this place. I was wrong. Met lot of very interesting people. Hope to go again one day, this day really opened my eyes and made me take it all more serious. No motive. Just want to encourage everyone. Thanks guys.
Wow, that's drive right there!! You'll be successful no doubt about it, sounds like you already are anyways. Cheers and GL in life 🍻
Thank you so much, wise informative, when ever I stick to similar I make steady small gains. Getting greasy will only stress you out and possibly end badly. Good luck to all in this run up!
I love the way you speak.❤️ It makes so much sense
I recently started the first in the series of ITPM educational videos and I still come back here to top up on even more great content.
Ross is "Da Boss". Tells it to you straight, the man is brutally honest, refreshing actually. Can't believe they gave away this amazing content for free. Wow ! I wrote it all down and now it's part of my trading discipline. Trying to apply it to life as well. You can learn something from this if you're willing. Grateful I found it. Thank you Ross and Anton. Can't emphasize the gratitude enough.
"Decide whether you really Wanna Do it. And if you're gonna Do it ? Fuckin Do it Properly." Love the whole prezz but thats easily my favorite quote. Valuable for all walks of life
A mesmerising performance. This guy knows how to hold the listener's attention.
Yep tells it as it is
Social media is there to be used.
Don't let it use you.
This is awesome 👏. Brutal honesty will save you money and time
Thanks for this. This has been a career I’ve been considering and raw, honest content like this is helping me to make an educated decision. Thank you.
Setting realistic goals is an essential part of keeping trading in perspective.
Beginners needs to understand reasonable return should be earned in a reasonable amount of time.
Would love to hear more about this, any starting places to learn?
looking forward to this!!
The ultimate skill: Learn to trade live account like a demo account instead of trading the demo account as if it's a live account
Easier said then done for alot of ppl
That actually just created a small shift in my mind, hadn’t looked at it that way, thanks man!
Surprisingly one of the most motivating videos
I hope one day I be like these men of substance... Am working hard
I like this mans style. straight to the point and no gimmicky marketing pitch.
Love all the philosophy he was willing to give. Great contents for people who didn't know and great repetition for the ones who already know.
Love the straight forward talk! Thank you! :-)
Superb scepticism, excellent examples, concise critiques of cat videos & CNBC, Ross! Cheers!
Got off a little slow but amazing content. Thank you so much for putting this up!
I feel like his humour wasn't appreciated in the room. He had some great jokes inbetween the truth bombs.
Aussie humours unmatched
I realize this is an old video but, it saved my life (not in the physical sense but in a spiritual wellbeing) and I just wanted to say thank you for posting it. In a weird way, while I was struggling trying to figure out my trading mistakes, I came across this video (posted as a link in a chat room). I told myself to pay attention with an open mind and open heart and maybe I could figure something out that will help me with my trading, suddenly a light came on and immediately I realized what I've been doing wrong most of my life. The correlation between life's strategy and trading strategy is absurdly clear. Once again thank you!
Really? Elaborate on that correlation please.
Thank you very much for this content
Patient with winners, impatient with your losses. Cut them and find the next setup.
This no nonsense approach is refreshing.
It's what you need to hear without any flashing light
I've really enjoyed this seminar. He's down to earth and practical with his advice. But for newbies like me .... shockingly ... it's really really good advice.
This channel is just incredible.
Thank You so much
information laid here in the video is gold. simply superb
I like your presentation and comments on CNBC etc. So true! I don't watch CNBC or any other network because it is a waste of time and also affects my own judgement and analysis. These networks have the large brokerage houses and fund companies as clients and their agenda is to keep people in "the game" no matter what. They collect billions in fees etc for doing absolutely nothing while investors lose their life savings. Also risk management is VERY important. I try to keep losses to 1% of my account on any given day. It has taken me years to develop my models I use and also learn to manage risk. Thank you for a great presentation!
I like to watch CNBC see whatever the suits are pumping. like Jim talked about NETFLIX buy i went long 2 put options that gave me 5000%. my biggest win % wise ever.
Exceptional talk, thanks Ross.
Cool! I see my big head in the audience!
Thx for giving us the heads up.
How was the experience at ITPM?
Brilliant talk. Thank you Ross
brutal truth but very informative and educational. props to the speaker
Ross would make a good stand up and he talks total sense
Great content 👍🏼 but the title of the video shoulda been “Do Something Else”
hahaha yes reapeting this 100 times
Got a problem with the video title? Do something else.
I am seriously considering doing something else
Yes
Really good talk Ross. Thanks
This was a sublime way to cap off the conference. Watching it now and also thinking back to when I was lucky enough to have been there, it's still hard-hitting and rewarding. Chatting to Chris Quill at break was cool too. Brilliant experience.
Great, man ! I'll probably follow his example.
wow, cool educational video. thx!
Great Video Thank You!!
Great content as always from ITPM Team! Thank You
Everything he said in this presentation is bang on Especially about the process part
Probably the greatest speech of all time!
Thank you so much for sharing this on RUclips. It was really worth it.
It’s 100% true when it comes to ppl coming from engineering background being successful at trading. Engineers think differently than others, they’re used to problem solving and being quite meticulous when doing analysis.
This is brilliant -thanks Ross
16:52 bless your heart. Uncertainty and edges Ross.
He is the most Anton like guy for sure 😎
Interesting video, thank you!!
Very good, free information here.
Great information!
Stright forward 🫵
Right knowledge in organized way...
This is look like how professional teach 📖...
Thank a lot 👍
Absolutely amazing. Thank you so very much.
love this talk
One of the BEST pre-market psychology video for beginners🌟🌟
40:17 Well I made a short story to answer that question : Lucas wanted to be a successful stock trader. He knew it was a risky and challenging activity, like crossing a wooden plank between two skyscrapers. That’s why he decided to use a demo account first, as a simulator that allowed him to practice and learn without risking his real money. He could experiment with different scenarios, develop and evaluate his strategies, and face the market risks. Using a demo account was like training in a less dangerous environment, like a virtual reality or a room with mattresses.
Lucas spent several months using his demo account. He learned a lot and improved his skills and results. He felt more confident and ready to enter the real market. However, he also knew that the real market was different from the simulated one, and that he would have to adapt constantly. He knew that crossing the plank between two skyscrapers in the real world was harder and more dangerous than in a simulation. He knew he needed more than knowledge and practice. He also needed discipline, self-control and responsibility.
He took a deep breath and opened his real account. He looked at the screen and saw the market move. He placed his first order and waited. He felt his heart beat faster. He was about to cross the plank. He hoped to reach the other side.
Coz I Can’t click the “LIKE “button multiple times, So I Give my multiple Thumbs UP!!!👍👍👍👍👍👍👍👍👍👍👍
This is GOLD! Thanks
Gold is in a bear market, m8, haven't you been paying attention?
as a virgo, my tarot card reader advised naked puts $AMD... i shall ask the universe.
hard part of trading is emotion and being patient based on my experience.
Such a badass bloke.
Loved the video!
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose is the result of hard work and hustle over time. I pray that anyone reading this will be successful in life.
Thank you :)
I would like to know what these guy would make of the following: 1. Bonds and bond mutual funds. 2. Mutual funds and ETFs . 3. Buy and hold. 4. A 60/40 equity/fixed inc portfolio which is the optimal point on the efficient frontier.5. the saying " time in the market is better than market timing".
Man, this was great!
Love this guy 💙👍👍👍
Great video, thank you!
What I like about these seminars is there’s no fucking bullshit, no idiot trying to tell you how easy life is. But telling us how hard life is, and therefore how tough we must be.
This is quite cool and informative but most trader's fail because they give up quick, it take lots of time and experience to become a profitable trader, An alternative is just to seek guidance from some pro traders and more to avoid loses of funds this season then see how happy you will be.
Thank you.
Awesome Epic video ! thanks for this lecture