TraderNick
@tradernickfx
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I trade and make videos about it! Founder of @a1trading_, building tools for traders. Podcast co-host @marketpulsecom. No financial advice!
Joined August 2019
My trading journey, every year:. 2016: Rough. Had no idea what I was doing, quickly learned this stuff was hard. 2017: slightly better, still negative. Learned a lot!. 2018: first profitable year! . 2019: very profitable! . 2020: very profitable!. 2021: very profitable!. 2022:.
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2023 just officially became my best trading year so far in my 7 year trading journey. But: the year is young. I’ve had a good stretch, and am fully prepared to have losses come in at some point. No free lunch in trading!
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Trading is one of the hardest things you've ever done, and you may not even realize it yet.
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I’m going to make a fortune from trading. Not right away, but slowly. Like if you’re on the same page 💪.
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My trading journey, every year:. 2016: Rough. Had no idea what I was doing, quickly learned this stuff was hard. 2017: slightly better, still negative. Learned a lot!. 2018: first profitable year! . 2019: very profitable! . 2020: very profitable!. 2021: very profitable!. 2022:.
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Risk management doesn't make you rich quick. It keeps you from going broke.
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After a win streak, I always reduce my position size on the next few trades. It's a small tweak I've made years ago that's really helped me. That feeling of invincibility can cause you to make mistakes, and give back profits you shouldn't.
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Prop firms are for exceptional traders only. You guys are seeing the stats. The amount of money these companies make vs payout is astounding. If you are not an exceptional trader, buying challenge after challenge, you are feeding those stats. I’m not anti prop trading. I’m.
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Your job as a trader is not to take trades. It's to manage risk.
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Good trading is boring, and slowly compounding gains. Great trading is doing that for decades.
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New traders don't yet understand this. Being a profitable trader means profitable on average, over time. Being a profitable trader does not mean profitable every day, week, or month. This is an important thing to understand!.
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🚨$100K Challenge GIVEAWAY🚨. Prize: $100K Challenge Account FREE. Instructions:.1. Follow .@tradernickfx . twitter page.2. Follow .@Maventrading. twitter page .3. Like, comment and retweet this post.4. Tag 2 friends . *Winner announced Jan 26th*
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No disrespect to my ICT friends. Just a joke, trade what works for you 🙂
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Prop firms are so profitable because the majority of traders on their platform are not ready to manage money. Prop firms are a great tool for traders that already have skills. For unprofitable traders they are very costly lessons! . Only use them when you are profitable!.
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Trading psychology is only relevant if you have an edge in the market.
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🚨$100K Challenge GIVEAWAY🚨. Prize: $100K Challenge Account FREE. Instructions:.1. Follow .@tradernickfx. twitter page.2. Follow .@Maventrading. twitter page .3. Like, comment and retweet this post.4. Tag 2 friends . *Winner announced Jan 26th*
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Good trading is more about survival than it is about making big returns. If you can't survive drawdowns, you'll never make a penny!.
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No successful trader ever got rich blaming the market for their mistakes.
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How much money in personal trading capital (not prop money) would you need to trade solely for a living?.
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It took me 2.5 years to become a breakeven - slightly profitable trader. That was at a time in my life when I had plenty of free time to dedicate an hour+ each day to learning/backtesting. This stuff takes time. Don't put pressure on yourself to be great at it right away.
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Sadly, most traders will quit once they realize that 2-3% per month is quite good, and far more robust than trying to flip accounts. Think about it. What is 2-3% per month on a 1mill+ account?.
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I have no issue with people who trade ICT or follow his content - I personally have no idea the success rate etc. But I can say one thing for sure: profitable traders don’t behave like this. Don’t be this guy - there are many paths to success. Confidence is quiet, insecurity is
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Great traders don't care about fame. They care about managing risk & trading an edge.
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Here's a secret about the industry:. Arrogant traders aren't profitable traders. Real ones have been humbled by the markets already.
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Real traders know that the outcome of their next trade is totally unknown. It's not about the next 1 trade. It's about the next 1000 trades.
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If you're seriously trying to become a professional trader, I hope you have removed all of the "lambo lifestyle" stuff off of your feed. Highly successful traders don't spend their time flexing on people. Sketchy salesmen do. Don't fall into that trap.
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Unpopular opinion: "advanced" technical analysis is a waste. Simple support/resistance and price action are good enough. One of the most overrated things in trading is obsessing over "sniper entries". Focus your energy on risk management, discipline, and backtesting.
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OK I'm just going to say it. Daily chart = superior. If you agree, like this post. If you disagree, comment why!.
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No one is born a great trader. All great traders have a long road behind them.
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How the heck is gold going up on, while USD is ALSO going up?!? . Before you fall into the trap of just thinking markets are manipulated, here is the real reason!. Gold is going up because globally, central banks are beginning to cut interest rates. They're doing so because.
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90% of traders lose 90% of their capital in 90 days. The classic 90/90/90 rule!. If you are making ANY consistent profit in the markets over time, no matter how small, you are doing very well. Don't forget this!.
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3 brutally honest truths I've learned about trading. 1. Markets are FAR less predictable than you think, or social media makes it seem. There are so many variables that can change the story at any moment. 2. Being right 55% of the time on a 1 to 1 ratio is very impressive. 3.
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I’m not impressed with someone who doubles their account in 2 days. I’m impressed by someone who doubles their account in 2 years, while keeping their risk controlled.
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Unpopular opinion: managing emotions and staying disciplined in trading isn’t the hardest part of becoming profitable. The hardest part is actually finding an edge in the markets, and building a strategy / risk management model that survives long term and in many market.
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The 1 hour chart is fast enough to produce frequent trading setups, but slow enough to produce clean price action. It's my favorite timeframe! What's yours?.
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The goal isn't to get rich quick. The plan is to build wealth slowly. Know the difference!.
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Consider your trading results month to month, not day to day. This may help!.
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2024 P&L so far. Every trade I take is shared in my profile link!
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Great traders do the following:.- Manage risk appropriately.- Don't have an ego problem.- Trade a system with an edge, but accept its flaws.- Never stop learning.- Admin when they're wrong.
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Good traders share track records on social media. The greatest traders don’t do social media…. I will someday join their ranks 🫡.
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Trading is hard, but not impossible. If you love learning about markets, you can make it happen! . If you don't love learning about markets, there are many easier ways out there to make some extra income.
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If someone had a magic money printing machine, everyone would want it. If the machine required you to spend years learning how to operate it, less people would want it. If the machine required you to deposit substantial capital into it in order to print more money, less people.
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The biggest trap in this industry is thinking there exists an invincible strategy that makes big profits very frequently. You either have a high win rate and small profits, or a low win rate and big profits - never both. Every strategy has strengths and weaknesses!.
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Shoutout to @toritrades for taking my trading influencer transparency challenge. She’s legit, and has the broker statements to prove it. There will be an interview dropped soon!
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Trader A and Trader B use the exact same strategies, and take the exact same trades. Trader A risks 5% of his account per trade. Trader B risks 1% of her account per trade. They both enter a drawdown that is steeper and longer than they expected could happen. Trader A blows.
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In trading, you're not paid to place trades. You're paid to manage risk and play out your edge over time. Traders lose a lot of money forcing trades when there are no setups to be taken.
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How much money in personal trading capital (not prop money) would you need to make an average monthly income of $5000?. Explain your reasoning!.
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Trying to go fast in trading = blown accounts . Accepting the slow and steady route = a gradual path to wealth!.
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2 hours until a lot of traders blow their accounts. Be very careful today guys.
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The secret to surviving the 3 month drawdown I had? . Crying helps a lot. That and risk management will do it.
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I have so many trades that lose money every year. My entries are garbage sometimes. Sometimes my analysis is flat out wrong. I often go through drawdowns publicly, since I livestream daily. I have periods where I look like a total idiot in my trading. I regularly have.
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Time for a rant. If a trading influencer responds "I don't need to prove anything" when asked for a track record, move on. They simpy do not have the stats. Don't waste any more time or money on them. If you sell something, you DO have something to prove, if you truly respect.
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With a 1M account, 1% per month is very good money. Pros realize this, and that’s how they stay in the game - through ups and downs - over the years. Previously this was unattainable to the average trader. Props have changed the game for profitable traders lacking capital.
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Having a trading partner is one of the best decisions I've ever made. Frank, who works at my company and is one of my closest friends, trades with me every day. We discuss latest events, strategy, and do analysis together. 10/10 recommend!.
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Don't let social media fool you. Your favorite trader on socials has terrible losing streaks, whether they show you or not. Everyone does. The market doesn't pick favorites, and every strategy has weaknesses. Don't let a drawdown discourage you. We've all got em!.
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Fake traders get upset when you ask them for a track record, and engage in petty drama on social media. Real traders drop their broker statements/live logins no question, and have no need to engage in nonsense. New trader tip: No track record = don't give them your time/money.
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If price actions leads fundamentals, why does the price action spike AFTER economic data is released?. Fundamental analysis is king! 👑.
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Most traders are not ready to be a funded trader. Here is my suggestion:.Trade for at least 12 months on a demo account, and then review your stats. After review, do you meet the criteria to be a funded trader based on challenge rules & restrictions? . If it is obvious that.
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If you've been trading for longer than 90 days; congrats! You've made it past the vast majority of people who leave the industry.
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How to be a "told you so" trader:. 1. Open 2 demo accounts. Sell gold in one, buy gold in the other. 2. Screenshot trades going well and boast that you knew it would happen. 3. Never show losses. 4. Never show a long term track record / broker login. 5. Repeat.
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Successful trading is similar to running a business. If you were a store owner, you would need to spend money to buy inventory for your store (business expense), so that you could sell it for a profit later. In trading, losing trades are your business expenses.
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I remember years ago, sitting there frustrated and wondering if it was even possible to be consistently profitable in trading. Years later, from the other side, I'm glad I stuck to it - even if it ended up being one of the hardest things I've ever done.
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Trading performance on myfxbook, since October 2020 - coming up on 2.5 years of public performance on a third party platform. Here's a thread detailing some of my performance 👇
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