The BEST Trading Advice from Tom Hougaard's 'Best Loser Wins'

I read Tom Hougaard's book "Best Loser Wins" in one sitting and took 55 screenshots of the most helpful parts. Here they are for you. What are you doing down here.

Risk disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Information in the video and the video's description is accurate as of the date of the video's release, but it's not guaranteed to be accurate after that.

[dandywarlock]

10 days in with paper trading,
been fed up with all the influencers trying to share their BS courses.
Your channel honestly is the one reason why I decided to pursue trading again

[mordie]

Notes as a reminder:
• Trading is all about making educated guess, you don't know if it's going to work - coin-flip scenario
• We lose money because we refuse to accept what is right in front of us. So, trade what you see, not what you think!
• Either the market agrees with you or it does not
• Scared money makes no money
• Stop thinking: "What if?"
• Start thinking: "If, then"

[scalpESNQ]

You are legit one of my favorite YouTubers and I can't express enough how much I love this book. It's one of the few books I've read thru multiple times

[mikeburton]

“Personally, trading is perfect for me. I hate talking to people.”
I’ve never related to something so much 😂

[theoutsder]

I have followed him for a long time, & recently finished his book, & in future this book will definitely be regarded as one of the best. I always liked his Target-less approach...riding that 'One' trend for as long as it goes & that type of one in a month trend day is responsible for 90% of the profit i make & it also cuts down 100% of my because i dont set targets when i am gaining high and high....sorry for my long comment, just needed to get this out somewhere wanna say this guy really changed my p&l (no i am not a bot XD)....working on yourself is 90% of the game that is the of my trade is in loss bt overall my month is in green!!!!

[visla]

He is super correct on Risk - Reward bit if your goal is to maximize profits, but if your goal is to smooth out equity curve then having hard targets is fine, but it will come at a cost of not capitalizing in full. You disagree on the basis of that you like to have a pre defined target that you think is reachable with high enough probability to prompt the trade in the first place, but what he is challenging you on is why arbitrarily exit there? Would the place of your exit prompt a trade in opposite direction with same conviction? or are you only exiting because of urgency to lock in profit, one of those reasons is pure emotional while the other is rational.
Food for thought. Best trades are where results can equate to technical infinity in profit and capped loss, thats why trend following works!! Would love to hear from those who disagree.

[raylatham]

THANK YOU!! a friend sent me info on this book. since I don't read fast, get easily distracted, I was looking for an audio edition & found you!! WOW!! guess was meant to be. Much APPRECIATIONS!!

[urbest]

Thank you so much. Excellent! Got audible version plus a paper copy. Actually, Tom recommended your YouTube channel this morning at his telegram.

[oftenlongphong-qozt]

This book helped me see that I was very consistent. I've managed several times to turn $120 loss into 2k and 4K losses by refusing to realize the loss before I had to.

[codymckeon]

Hey man I have been listening to you all morning while trading a simulated account - just going down your most recent uploads. I really appreciate your approach to creating trading content. You’re funny, intelligent and it seems you have no intention to rip anyone off and are probably a gem of a channel. I am really tired of all the influencers and money motivating bull sh*t that is being produced and preached - I wish there was an algorithm for authenticity. You are authentic man and I appreciate that.

[toomworld]

You’re one of the only traders that I’ve come across that’s my people.

[pamh]

I'm sure you've heard this hundreds (thousands?) of times, where have you been all my (trading) life?? I just watched a video where this guy spent 20 minutes talking about what he was going to discuss, and then discussed it for 5 minutes. That is how excruciating most trading related videos have been for me over the past 2 years. I have to watch most videos on 1.5X speed, no joke. I just found your channel yesterday, so I'm really looking forward to making my way through your videos. Thank

[hassbzy]

trading is easy for me now when started it was hard, harder then anything else in planet earth, but after 3 years of charts and studies it’s just easy now!

[netking]

I think after this I will be able to go short when the market is going down, and go long when the market is going up. Thanks for the summary!

[jeffrose]

Mark Douglas
Tom Huggart
And Iman (Issac)
These are the only people you should read to be a successful trader.
Thank you Iman

[carlostorres-xboj]

I don't think Tom would mind you reading from his book. He's a very genuine human ....You do a good job of adding perspective ...gratitude.

[RileyCourtier]

Looks like I'm buying the book now. Great video.

[seolong]

I'll be honest... this video was a bit hard for me to watch. It was to much: "Remember when I said that in my video and this in my other video".
I understand that it feels good to get your theories and methods validated by a profitable trader, especially after a bunch of people hated on you and your trading.
But stay humble, yes? Anyway keep up the good work!

[dailytaylor]

Excellent book. Really changed my perspective on why I was struggling as a trader and helped me correct those issues.

[NuclearTrader]

The industry is populated by so many of his ilks. Let us spark a clean up.