90% of traders lose money... So how to be in the top 10%?

So how to be in the top 10%? Francis Hunt a technical analysis trader and coach comments. What are the bad habits to avoid? What are some trading mistakes to avoid? Is trading forex, indices and commodities a giant casino? Decide on a strategy that looks after all elements of money management. You've got to manage losses and you need to have a system that will make more money than it loses. Patterns are probably the most important technical analysis tool for me. If you've found this video useful, please click the like button and share it with your friends and remember to SUBSCRIBE to remain up-to-date!

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[soulxx]

finally a trader with just one screen in front of him.

[hsetiono]

1. Sizing
2. Risk/Reward must be asymmetrical
3. The probability of Win Rate
4. Stop loss

[quinnrsligo]

100% of traders lose money, but only 10% of them gain money.

[kls]

Basically "Slow dough, is better than no dough"

[devonk]

He makes a very subtle point many may miss if you are not familiar with the math. If you are down 20 percent, it's not 20 percent you need to recover by, it's 25 percent that you need to make back in order to get back to where you were. What that means is - the power of loses is greater than the power of gains which is why it's more important to play defense rather than offense. It's totally non intuitive, but if you focus on not LOSING money, the profits will come as a side effect.

[randomrt]

if you suck at trading, look into long term investing. true story

[brickstunram]

I watched this video a year and a half ago when I started trading. I was a filter for bs even then. Now after learning so much, i can assure you it is still solid advice.

[zarith]

omg what he said is exacly how i felt.. after you lose some money the feeling of opening a big position to recover is real..

[jokur]

this five minute video is better than reading 20 books on trading if you can apply it

[Baghuul]

Many people get into trading with the get rich quick idea in their minds. It takes patience, don't rush into it because you will lose.

[Shawk]

He got it just right. The biggest mistake by traders is over-trading. At times, it can wipe you out.

[moonze]

From my own experiance, the only tip I can give you to earn some money in your life is DON'T BE GREEDY.

[ATTAHAPPAREL]

*Taking a calculated RISK is the overall key.
*Look for high probability and high quality trade.
*Position sizing should be considered before placing a trade.
*Risk to reward ratio should not be left out.
*Always set your stop loss for every trade you placed to avoid blowing of account.

[mridularul]

one of the few traders who didn't have an attitude or have the urge to showoff how much money he made .. the most sincere trader i've seen so far when it comes to explaining trading

[crzune]

Biggest mistake to make when you start trying to over compensate for a loss and losing even more. Then to get greedy and make more when you've already made a profit.

[casienwhey]

This guy gives really sound counsel. I make money now after having lost it in the past (and at times a lot of it!). Here is what I learned that may help you. Building your own system or approach is a good idea because it will reflect your personality and style. It will be "right" for you because it reflects your personality. Even if you are only right 60% of the time, you can make solid returns. Find a way to remove your emotions from the trade outcome. Prepare yourself for losses. I do this by looking at the investment allocation as "spent" money. It's all risk capital, so although it sucks to lose it, I accepted that at the start. Focus on one area or style of trading if you can. For example, daytrading, swing trading, scalping, position trading also focus on a type of trade approach so you can master it. Don't get pulled into lots of different directions. I trade stocks, options, futures and have different styles for each but to start I'd probably just focus on stocks because they typically will be less risky so you won't be as likely to blow out your capital. If you are serious about learning to be a better trader, invest in your education. Lots of free information on the Internet and lots of good trading books you can purchase for a small fee. Taking the time to learn and study separates a serious person from someone who is looking at trading like a casino or just wants the the thrill of a win. I don't really pay attention anymore to the courses, software, promoters who promise great wealth if you will buy their programs. Call me jaded or skeptical, but I can tell you that no one I know would sell a good trading program to others if they could make consistent profits trading it themselves. That is where the developing your own approach makes sense and will likely serve you better for the long run.

[_jamesbradley__]

Accept small losses, have a process. Emotional/mental capital is important. Only trade A+ setups. It’s very rare to be a Consistently Profitable trader in less than 3 yrs.

[gmshadowtraders]

Nice, one of the few talks where the guy seems to be sincere in what he's saying.

[benpainter]

I know traders that loose 70% of the time and still make money, basically all due to killer money management. This guy I think has hit the nail on the head.