Trader Nick: How To Trade With ONLY $500 | WOR Podcast - EP.130

On this episode of the Words of Rizdom podcast we are joined by Trader Nick. Nick is a well known Youtuber and day trader that has verified profits of over $250,000 with live login receipts. Nick's opinions on the current climate in the trading space is that every trader that has a significant profile and sells mentorship should provide a proven track record. In this podcast we discuss the controversy around prop firms and their future, the importance of backtesting, how Nick flipped $50,000 during the pandemic and he also shares a few hidden tips & tricks to profitability! I hope you guys enjoy this incredible episode, it is packed with value!
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Disclaimer:

The content on Words of Rizdom is for informational and educational purposes only. We are not personally affiliated with any of the guests featured in our episodes. Our role is solely to interview them and share their insights, experiences, and expertise. The views expressed by our guests are their own and do not necessarily reflect the opinions or endorsements of Words of Rizdom. Always carry out your own research and seek professional advice before making decisions based on the content shared.
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Timestamps:

Chapters:
00:00:00 - Introduction to the Daily State of the Industry Update
00:05:52 - The Evolution of the Trading Space
00:11:47 - Quality Businesses Stand the Test of Time
00:17:26 - The Pain of Growing in the Industry
00:22:57 - The Importance of Back Testing
00:28:56 - The Importance of Position Sizing and Trading Psychology
00:34:22 - The Importance of Studying Particular Assets
00:40:00 - The Value of Showing Transparency
00:45:53 - Fundamental Analysis and Data Tools for Trading
00:51:56 - The Importance of Fundamentals in Trading
00:57:21 - The Importance of Healthy Discussion and Balance in Trading
01:03:03 - The Importance of Accountability in Trading
01:08:35 - The Importance of Fundamentals and Technicals
01:14:25 - Balancing Trading and Content Creation
01:20:34 - Increased Trading Due to COVID-19
01:26:27 - Sizing into Trades and Adding to Winners
01:32:20 - Balancing Trading and Other Activities
01:38:07 - Self-control, self-discipline, and self-awareness in trading
01:43:57 - The Journey to Success
01:49:20 - A Challenge to Prove Authenticity
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DISCLAIMER: I am not a financial adviser. The videos on my channel are for educational purposes only
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#trading #forex #forextrading #futures #swingtrading #daytrading #podcast #ict #scalping

[wordsofrizdom]

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[TraderNick]

Thank you very much for the great conversation Riz. It was an honor to be on your show, and I love the content you're creating for the trading space!

[edwardhhh]

Trader Nick: One of the most realistic traders out there who also uses fundamentals to support his decision. Man will go far, trust me.

[NoahNollens]

The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies

[anjorinolayinka]

Nick syiek is by farr the most honest trader in Youtube history..always sharing some uncomfortable truths about trading expectations..he is a legend..am yet to meet a more honest and trustworthy trader..been following him since day one..he is rare..

[NAS-DISIPLINED]

I been following nick for a couple years. One of the most consistent traders I've ever seen

[marcustherealius]

Been waiting for this one Trader Nick is probably the only trader you have had the n your podcast that proves he knows how to actually Trade over time not just post huge wins with a big following.

[FegaroScheu]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[sphesihlekhumalo]

Really like Nick. He is one of the genuine ones. Very realistic man.

[josephokonkwo]

I agree 100% with Nick here on the backtesting and how it truly exposed not just the winrate but also the flaws of every strategy and those drawdown periods are the places where the main test comes. 22:12

[benbt]

Nick is one of the last good example of a trader out there. Always humble, never heard him saying anything bad about other traders and strategies.

[peternjenga]

Discipline is everything for sure. Can't wait to be profitable man. Thanks for this Nick.

[josephokonkwo]

TRADER Nick hit the nail on the head here and truly ever since i started trading and focusing on USDJPY I've developed a connection with the pair through backtesting and trading it live too 37:35

[ruthsharuz]

This guy is the only guy who spoke the truth about edge

[theotothefuture]

I don't use fundamentals but I still watch nick regularly. Great dude. Surprised and glad to see this happened 🔥

[pedroflorentino]

LETS GOO Nick wow this dude deserves the spotlight and more. I’ve been watching him 5 days a week for over a year now he is that guy.

[Paulthegreat-ijtp]

I love his minimalistic view to position sizing and risk Management.
Back testing is key to finding an edge in the market.
We should literally bank on our edge in the market and not just trade whatever we see🎯

[freeboysakib]

It's great to see Nick here. This man is born to be a trader. I have been watching him for the last year and a half. There is a lot of value in his contents

[Paulthegreat-ijtp]

We need more of Trader nick in this space...He has a great deal of transparency and humility ❤️💯

[SKgaming]

Finally my real mentor came on this platform ❤ So much happy to see you with World biggest Trading interviewer! Lot of fun and Lot of lessons today❤❤