Amazing video. I have been trading the markets actively for the past 10 years, and I have to compliment you!! Congratulations!! You have hit the spot 100%. All traders, beginners, pro's, anyone trading, this video is what it is all about. Once you get this, you will become successful. Thanks Nick !!! A huge thumbs up for you.

Nick Radge's presentation has been viewed 99,532 on KZread! - Trish

It was refreshing to hear and spend a full hour on this webinar after seeing all that crap with fancy titles here in youtube that are just a waste of time. Thanks a lot for this video Nick. I found a gem in this pool of crap called youtube.

So true. If you can overcome the fear of losing, you will be a great trader. - Nick Radge

Thanks so much, Arklysirzirgas. We are glad you enjoyed it.

This is the best video I've ever watched on trading :)

Awesome! One of the best presentations on trading systems and psychology!

Thanks, Steve. I'm glad you enjoyed it. - Nick

What a great presentation. It has changed the way I look at my losses. Losing streaks no longer make me feel like a failure, and that means allot to me.

Enjoyed your lecture Nick! Encouraging thoughts for dealing with losing trades. Thanks for posting.

The formula for LS is wrong. division by 100 is not needed if PW is already in p. Instead use p of losing trades so substraction from 1 is also not needed. Too many paretheses. Correct formula LS = ln(# of trades)/-ln(p of a loss trade). Overall, I like the presentation especially regarding the qualitative aspects of trading.

Thanks, Medasculo. I'm glad you enjoyed the video. - Nick

My clients see my real money account - I trade my own money. Yes, I get paid for my advice but not everyone has a trading strategy they are comfortable with or that is proven. We all choose if we want to pay for a service - I pay an accountant, an auditor, a compliance consultant etc because they all have experience that I don't have. People can choose to pay for my experience.

Thanks so much, China81. I am glad you found the information valuable. - Nick Radge

Hands down the best information on trading.

high feeling of truth here, very helpful

how does this not have any comments? this is incredible information!

Great trading information. I liked the reference that Drawdowns helps traders determine their own personal Pain thresholds!

Thank you for your comments, Kainho, and for watching the video. - Nick Radge

Nick, I am reading Adaptive Analysis for Stocks. Excellent piece of work ! I am glad I found it, will have to read a few times.. Thank you for the clarity and many excellent insights and ideas

Nick, This is a wonderful video. You have a very engaging presentation style. Especially useful is the section on the statistical certainty of having a long losing streak. Thank you for this post, and prosperity to you!

Amazing insight with the 50% drawdown. Also gave "unholy grails" a read & had some good systematic gems in there. Cheers Nick

Some great insights, Nick, this is quite an education, thanks.

Dear Nick,your presentation was the exact thing I needed to stand up on my feet and follow my dream of becoming a succesfull trader. I sure plan to be a full time one. I come from a family where my dad praticed medicine for 25 years and the only time I saw him stress free is when he retired and moved to stock trading full time. Unfortunatly though the crash of 1997 destroyed alot. However, today Im here to start at an earlier age and pursu my dream. the only difference is I choose FX not stock

I love this video especially the stuff about expensive courses.

My God... I cant believe you just said it. .." you learn from experience", finally someone said it. Thank you. Ive been saying that. Ive taken losses in my life but I'll tell ya , now I look back and say to myself that I learned from my lessons and mistakes. My mother and father always told me.. Seek advice , listen to it and obsorb it...... is free. God bless. ..MoMo ;)

I am somewhat surprised that people need to hear what sounds like the obvious... that you lose money in trading. Its a zero sum game, no wonder the trader loses. You manage the losses to be in position to take advantage of the gains. Qualitatively speaking I would like to learn more about where one puts in the stops rather than how to manage wobegone, but I suppose there are other events for that. Thanks so much for posting

That is my point in the video - the qualitative cannot be taught. They are learned with time. You can tell someone to follow a system but having them do it is another issue entirely.

Trading psychology is the most important aspect in my opinion. Once that's sorted just get a decent strategy like the pipdaq setups and happy days!

Thanks heaps!

invaluable talk, genius

Good stuff nick.

Great advice man!

The systems are quantitative. The ability to operate the systems are qualitative. Eg. ability to handle stress, to follow the signals without questioning or over-riding the strategy, understanding that markets ebb and flow, up and down and that you cannot make money every day. - Nick

That's right, Alfred - time in the market is the most important factor. You will learn mainly from your own mistakes. My suggestion is to start slowly and keep a diary - record your trades, how you felt when you placed the trades (your mood), did you follow your rules and if not, why not. etc. Over time you will start to see patterns occur. If you are not following your trading rules then you may be using a system/method that does not suit your personality. Only you can work this out. - Nick

very nice lecture

awesome

i enjoyed the vid, thanks

Thanks

My point is that the qualitative traits can't be taught (like patients, understanding what can and will go wrong, coping with draw down etc) - you can only learn these from experience. - Nick

Great video

Nick, you have a good point on the positive expectancy and the loosing streak explanation. How about the details on the qualitative trading? Thanks

Losses and how you react to them. Simple, but so difficult for most.

Thanks for this information, Mike. We are aware of the problem but are unable to update the slide but can leave your comment here for other people's reference. Thanks again. Nick Radge

would love to come to next presso nick , where to find schedule ??

That is great news, ElementalGeneral. We also have a free Trader's forum on our webiste (see link in video details) - a great place to share ideas or ask questions about trading. -Nick Radge

Hi Nick. A really nice video. If you have any similar video uploaded or would like an aspiring trader to know about - please guide on that too. Your whole presentation, especially the focus on developing the "Qualitative" aspects of trading, can reduce the requirement to become a successful trader from 10,000 hrs to 5,000 hrs - because normally early 5000 hours are wasted in identifying the trend in mistakes we make, without being able to exactly quantify what one is actually doing wrong. The biggest take away was : "One good trade might not make a difference, but one bad can" and "If the expectancy of the system is +ve, it will ensure that irrespective of outcome of each trade, the following of process thoroughly trade after trade, itself will ensure a reasonably positive PL over a very long period".

Nick, if it can't be taught, can I assume that the qualitative aspect can only be learned by own mistakes and other people's mistakes?

Hi Nick, Great video. The formula at 22:56 does not balance. Is there an error in it? I'd love to know for my own figures. Thanks.

Ok thanks nick

Thanks. But I think quantitative is more important and elusive for most. If a trader has a good trend following system and knows he just has to follow all the rules (system's rules) - that's all should be required.

Hi 008maguire, It depends on the portfolio - my Growth Portfolio trades approx. 50 trades per year whereas the short term US Power Setups trade 2-300 trades per year. I have been trading for 26 years and plan to trade for another 26 at least so my saying "next thousand trades" simply means that I put losing trades behind me and look to the future. - Nick Radge

Reefcapital, Thanks for the lecture! Mike, Thanks for the formula. I have tried the math but didnot understand the meaning of the numbers i got... I tried sample of 200 trades and 0.7 success ratio and got an answer of 2.3 - what does it mean? TNX, Shy

Thanks so much, mindaza0. I hope you find the information useful.

One question, How to trade good, for a beginner or a amateur like me?

what software do i use to trade?

I'm still trying to work out why people like the content of the video and not the fact that I'm really handsome, Keishamania :) Just kidding - Australia is not too far behind US in self righteousness. I'm glad you liked the video - Nick

HI toy741life, I use TradeStation and Amibroker. - Nick Radge

Firstly, lots of reading. Treat trading like any other business or career - you cannot do a weekend seminar and then start trading on Monday morning and expect to make money. You won't. You need to find a strategy that suits your personality. There is a lot of free information on our website (follow our links above) and you can drop me an email if you have any questions. - Nick Radge

Are you not contradicting yourself? you use 3 different trend trading systems and you say there is qualititative part which is more important. System is by definition is all quantitative. Right?

Ok if he says he thinks in terms of ''the next thousand trades'' how many trades are made a day or week on average???? Anyone??? and i don't want an answer directed back at me as in ''depends on my equity or timeframe'' etc...i'm talking about this guy, how many trades a day or week??? anyone please :) so i can understand where he is coming from

It should be okay HonestBill68. What win rate do you operate at?

Good Vid , But he is an Investor , not a trader ?

haha,was just thinking that:P

I have to disagree. TradeStation is excellent for professional traders. I wouldn't recommend it for beginners or people new to trading. Amibroker is great for professsionals and beginners. (I do not receive payment from TradeStation or Amibroker. They are just great products.) - Nick

HI istockmoney. I trade our Growth Portfolio to manage my super fund (retirement fund in Australia). I fully disclose all my trades to my subscibers - my complete track record, winners and losers. I also trade our systematic short term trading strategies called Power Setups® - the same signals my subscribers receive. If your fund manager or financial advisor does not trade the same way they advise you to, then I suggest you find someone who does. Ask to see their trading statements.

well its no secret you get on the back of the big boys and ride. this is trend trading until you can read the tape, you will always lose money

yea you guys take those expensive courses. il just watch them for free on youtube in my bed :D