Risk & Money Management is what all day traders eventually have to learn to master. No chance to last without it. So talking about the risk and educate traders is very welcome. Thanks for bringing up the subject.
you must read this. once you have started there is no turning back. a little 10 year old girl was raped and murderded in 1945. her body was not found until 1947. then a boy last week read this and did not copy and paste this message. the dead girl appeared in his room haunting him and killed him. if you do not copy and paste this onto 10 videos in 30 minutes the dead girl will apear in your room tonight and haunt you and kill you well you better start to copy &
Please spend time talking to the mirror , tire yourself out, then come back and say something clear and concise. You have said nothing that an experienced trader knows about. Please take this off Youtube and retry your video. I really think you have something to say and contribute, but it really wasn't done here. Thanks, G.
I want everybody to listen to what i am about to say! The entire Futures Market is being controlled 100% by a computer!! You don't believe me? Just check out my profile and watch my videos, you'll see what i'm talking about.
If you can eliminate risk then you won't ever lose. I've been trading for only 7 years, learning something new everyday and never have i been able to fully eliminate risk. Minimize it, yes, eliminate it fully, heck no. When it comes to day trading the only thing you need to fully eliminate is your biggest enemy which is your emotions: doubt, fear, hope, and greed.
@JamJells I saw him the other day at the Lighspeed trading floor and he was trading with bigger size than ever. A very nice guy and very smart. But his Brother serge and Chad are much bigger players in that office. Pete is one of the best pure daytrader out there.
i want invest $12,000 on forex . i'm thinking (actually dreaming) 20% net (2400$)per month. i'm from asia and don't need to pay any income tax. i just want to know that, can I can make 20% of 12k in a month or not? actually i think the best would 10% with less risk if I do a little bit risk what do u think ? 20% is normal or ?
@rfwelsh - It make totaly sense to me as he might be talking about the job in an overall view and indeed it is a high risk job for anyone involved, I like to compare it with a battlefield. However when he talk about taking the risk ou trading, he is talking about his strategy, which also makes sense. One might choose an aproach with more risk but more reward or choose a more conservative, more secure, but also less rewarding aproach, which I guess is his choice.
This guy seems to be one of the more rational of the gazillion day traders on YouTube. What no one seems to tell you in any of these videos is that there are hedge funds w/ unlimited funds that can pretty much dictate price moves during the day on stocks of their choosing. Apple stock is notoriously manipulated by hedge funds. I've day traded for a while and do pretty well, capital grows at about 35% annually. 5 figure gain days are common, of course 5 figure loss days also. Good luck
@bailinnumberguy I couldn't agree more. I've watched alot of these videos and this was one of the clearest and most defined in terms of rationality. I've also heard the massive manipulation of Apple stock by hedge funds. Was curious if you had come across any good sources regarding this type of issue. Thanks!
@bailinnumberguy 35% every year for ten years, if you started at 100k, you would have 2 billion by now. If you had 1mill, you would have 20 billion. If you had 10mill, you would have 200 billion. Tell me, moron, on which Forbes list do you stand.
keep fking dreaming, moron. You think people are stupid or something.
@Elbottoo LOL. Actually 35% compounded over 10 years is a multiplier of approximately 20, meaning that $100K can compound to approximately 2 MILLION. You obviously struggle w/ basic mathematics, so I'm not sure how you get off calling anyone a moron. I don't think people are stupid, but you've clearly demonstrated that you're a dim bulb. Not really sure why I'm arguing w/ you, but your analysis of compound earnings is good for a chuckle if nothing else. See you at mensa :)
@Elbottoo I'm surprised you continue responding to my posts after your unfortunate math error. Your calculations resulted in an error of a mere 1,998,000,000. If I asked you to multiply 2 and 2, you'd probably come up w/ 40,000.
You're not too bright and these goofy exchanges aren't doing much for me. Good luck w/ your pathetic, uneducated existence.
@bailinnumberguy Im smarter than your whole stupid family put together, moron. You lost nothing but money this whole year and youre trying to convince us that you can compound annually 35%. Do you think we are stupid or something. If you can, you would be the richest motherfker on the planet, moron.
Obviously something went wrong there cos youre whole networth is not even 50k. MORON.
@bailinnumberguy I dont think thats true mate.. markets move , not because of manipulation (which is largely a conspiracy theory).. a market moves up when there are more buyers than sellers and they move down when there are more sellers than buyers.. sure hedgefunds can be big buyers n sellers, but there are still patterns to the market and they still contribute to the pattern. Also remember that 80% of hedgefunds dont beat the indea..
@bailinnumberguy shut the fuck up u fuckin poser ur a fuckin prick u dont know shit about trading. 5 fgure loss days.... lmao stop making up shit u fuckin retard i swear ill fuckin find u and ur prick family and murder all of them in cold motherfuckin blood u fat piece of shit CUNT.
@rbtommmyboy You're psychotic, but thanks for your comments.I'd certainly agree that YOU aren't capable of making money in the market. Best of luck little Tommy...
@bailinnumberguy o yea shut the fuck up u fuckin cunt have fun suckin your mom's tits while shes tucking you into bed tonight u fuckin SCUMBAG PIECE OF SHIT NO LIFEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
hey buddy try waiting for the re-test of support/resistance or supply/demand. let it break threw then when it re- test that level, you can get long or short. Another is to have a limit order right abouve your key level.... alot of people will push price threw levels and without an order near the top you won't be receiving a low enough price to have your stop underneath it not get triggered on the re-test... hope it helps.
At 5:08, it went thru resistance.With me,everytime I enter a breakout like that ,the market changes direction and sells, hitting my stop.You don't talk about where your stop was.
I may be wrong but basically what hes saying is he has so much money to throw around on this day when google release some earnings he waiting for a good time to get in when the stock evened out and pumped in probably 500k-1m worth of shares helping it go up about $20 per share and profited 10k+
Its interesting there is only 2 vids on this guy and nothing on google. Would like to see more with some actual information....this didnt have much but of course no succesfull traders want to give info..
@Jigabooz Actually, there's plenty of info abou Pete on Google. Just go to NYmag.com and you'll find some fun stuff about him. I know him personally cause I used to trade with him at the NY Lighspeed office and he was Huge!. He started with 50k back in 1999 and Now he is a multimillionaire on his own right. The day of the Flash crash in 2010 he made like 350k That day alone. Very nice guy, But Chad and Serge are way bigger traders in that office.
Most people here dont understand what he's saying. Yes, risk is risk, and if you listened at the beginning, he said 6 out of 10 times you win. Eliminating risk, is just a simple term for, " getting in at the CORRECT TIME" or Entry if you will.. Simple as that. If you have an angle that works, but it might not go that certain way, 4 times out of 10, your still ahead of the game, by 20%.. I totally agree with this kat, 100%. Knowing when to get IN is the most important part.
Listen closely! He actually says "this job has a lot of high risk". What does that tell you about his claims about eliminating risk?...it's complete nonsense!!!!
@48djm16 Your Right,wheres his stop?,etc. Breakouts never work for me,they always seem to reverse position enough to find my stop.I have to protect my other side.He doesn't mention stops,just overleveraging on a breakout.
It's simple, if anyone says that you acn completely eleminate the risk, you won't make money. If there is any risk free system anyone would do it. You can reduce the risk to an acceptable level, but when they promoise you the world they are trying to sell something
just a quick question. How much do you let the market fall back before you close the transaction? in other words, where is your stop loss? Thanks for your help.
I love this video. I wish I had the balls to trade huge size on setups like that. What if for example it didnt break that level and you are stuck long 100,000 shares with very few bidders or a thin level 2 to sell out, or a head fake? You can get crushhedddd. Youve got a nice setup, you've got to have confidence and convicion in yourself and your trades in this market to be successful, and I can tell you do. I wish I could learn more from you man. Lightspeed seems like a great place to trade.
@neoclassical1985 come on it theres a few empty desk and the guys are willing to educate. He wouldnt be long 100k google thats for sure. Most guys build into larger positions as the patterns developing. To buy 100k shares of a stock you should be in something very liquid like AMZN or IBM or AAPL to name a few. You wouldn't try to build 100k in something like SAM intraday that would be asking for it anal. Come on in any day and talk to any of us before 930 or after 11am of course lol
@kpierre221 I would love to come talk to some traders from the lightspeed office but I live in canada and I work for a small trading firm on the east coast. I would assume there are no lightspeed offices in canada, where are you located?
so let me get this straight...you "almost eliminate risk" by "getting in big and letting the chart do the work"? Yeah, that sounds counter-intuitive...
Trading itself is the act of balancing profit and loss sequences. Losses are a natural part of the process... they cannot be eliminated without likewise eliminating profits. That fact is pretty hard for most people to grasp, because it seems perfectly illogical. One reason why professional trading, professional gambling and any other risk/reward balanced endeavors seem so easy but perform so hard. Human logic and reason get in the way of reality. Trading without risk=failure.
this is what bothers me about these types of interviews. as a trader when im listening to another trader i dont want to hear the hype and sizzle about trading. i want to hear an actual strategy thats being used. nice chair,nice monitor set up,great trading location,but what did i learn.. ziltch..... give us something to chew on ya know..
Give the guy some credit. Obviously he's able to make a living at it and thats all that matters. Demo accounts are about 25% of knowing how to trade. Orders,stops etc are ll that they are good for. Emotions , panic, fear,greed you can only do that with real money. Go small on real accounts, make money with 100-200 shares for a month or two, the amount you make is not the point. Just win and learn how to lose. Then bump it up to 200-400 etc.
Pete are you hiring? I have always followed the markets from an early age it's somewhat a passion for me and i would like to do it professionally. Here is email Cueles@gmail.com.
Hi guys, I live in Brazil and operate on the stock exchange Bovespa in sao paulo, if you have someone who operate in the market here, send me an email to exchange information and tips.
Trading is a Test against Yourself. Are you going to listen to your own rules? Are you going to put in the time effort and learn?Do you have the power to detach yourself from the money when putting a trade? Do you have Patients? When shit hits the Fan, can you keep yourself from entering Tunnel Vision. Its a Test against Yourself.
@peruface tell me something i haven't heard.. they're all the same.. these rules aren't going to help anyone.
There's only one rule you need to follow and that's called Persistence.. cause I guarantee you this.. when the shit really hits the fan.. everything else goes out the fuckin window except for this one rule. The less than 1% who keep this rule will be traders.
@peruface agreed, most people don't get that point I tell em all the time the theory is simple, its the self control thats a bitch. That tunnel vision is bad hahaha thats when you ask yourself about 1million times why am i holding this garbage, then starts the prayers, after prayers are unanswered you're left without religion and with less money for not sticking to the plan of reducing your risk based on your ability to act.
i only trade 2-3 times a month and average 40% per month. Took me 6 years to really find and perfect my own style that fit my personality sort of speak. Do your own research, trade alone, don't listen to anybody else's trade. Read everything you can about Jesse Livermore.
@peruface wow .. marty schwartz averages 25% a month over his lifetime.. and he's considered one of the best out there winning numerous national investing competitions. You can avg 40% returns a month? so you can return 11,000% a year compounded? lol.. if you're going to lie at least make it sound realistic
He's got a touch of the Mark Wahlberg's about him. Have no idea if he's legit or not though. About 90% of people involved the trading industry are just scammers after your money. I think you have to learn on your own through demo trading and then small stake trading, and build up as confidence grows.
@kellyfortune that's very true. go on any website and you will have a lot of people wanting to teach you how to trade from $100-$10,000. it's up to you to figure out how you want to trade, what you want to trade, and how much you are willing to risk. in the end, there is no system, it's money management
@kellyfortune wow! u wrote one of the most ridiculous comment regarding trading of all time.......scammers??...LOL! So dat makes me a scammer eh.....do a thorough research kid.....
How do you know what system is best? Trading earnings is not easy. Most new traders don't ask enough questions if any at all. You have to have to realize that this business is not a guessing game. That's why only 95% of traders make it. Most guys just don't get it. Be aggressive when it comes to learning and take it easy when just starting. That’s it for today's lecture on how to be a player.
I've just been searching for about 30 minutes on different trading techniques and how to actually make money and I have never been bombarded with so many blatant scams, lies and bullshit in years.
The only time that I've seen a trader make sense is when they openly brag about their success. I think I've learned far more about potential price movements in the Forex markets studying history and losing my first $400. I guess ignoring these assholes is the way to go.
Here's something he could have said that is far better than the bullshit he speaks about. Most men are prone to over-trading. That is, you lack confidence in your positions so instead of maybe trading once every 3 hours you might trade nine times every 3 hours just to feel like you're in control of your money.
This sends your money backwards. Try cutting down your quantity of trades by 30% and see how you perform.
I trade during the morning run on London time and make my target in 1 or 2 trades.
Then I try to go for some extra and start loosing money and end up having to compensate and start gambling and end up doing maybe having done 10 trades and have little or a negative result..
Nothing pisses me off more than listening to stock traders who talk BULLSHIT. Not once did this guy say anything that is concrete except "I made a nice 5 figure sum today" and that's not even concrete.
The secret is not on youtube or in books. Your skills and efficiency in the market lies in your own willingness to trade and learn in the market.
He is so shady. What the hell did he say? He talks like a nonsensical philosopher.
Hey pete, i really like your posts on youtube, I also read your article in New York Magazine, really cool and very impressive. I have being trading for about one and a half years and I am still learning patience, its tough, but with persistance I will get it. thanks for putting your posting online, we need more positive cool traders like yourself.
What he did with his Google trade; He waited for resistance to be breached , once it did Resistance became support and his position sat on that support ensuring good safety for position. Now he has a big position and moves the market, his own buying drove the price up and cemented it's own support unless a big Trader went against him and behind him the market he's almost ensured success. That's why he waits for these "setups"
he didnt say they cant go up overnight he's saying the risk exposure is much greater overnight due to lack of liquidity and inability to exit trades if adverse news is released. Also, hes saying good earnings dont necessarily mean the stock will go up... it has more to do with the expectations of traders and how much has already been "baked in" to the current price. I can tell you he is correct... definitely not a "novice"
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Nice vid. Your office looks like a space shuttle. But I still prefer using simple forex robots that trade for you. I just sit back with no risk at all and look at the robot getting profit for me.
nathanielbriggs, the reason why you were doing well at first - and now you are not is because most so called "trading secrets" either don't work or you get lucky and catch a part of the market cycle that produce profits only short term. I recommend checking out Martin Cole. He has been trading for over 20 years and has taught live classes where they traded with real money. You will learn how the market really works instead of wasting your time with other "$97 secret sellers".
When I first saw the title of your video - I said to myself - "Here we go again". You can not eliminate risk in trading if you want to make a living from trading. And you know that because you contridict yourself in your own video by changing your words to "almost eliminate" lol. If there is no risk - then there is no reward.
To this day I do not know why people will not just buy physical 1 ounce gold bars. All the gains you make arent taxed because you dont report it. Gold is going to at least 3k at a minimum. Who in their right mind would trade in stocks? The game is so against you especially when it comes to taxes. When the dow/gold ratio hits 1 you cant just sell out of gold and buy stocks hand over fist at bargains. Guys, please, buy gold and stop making wall st rich with your commission dollars.
I put most of my money in physical gold bullion years ago at about 400 an ounce. I will hold until gold hits at least 4k. I will then sell my little pieces of metal and not pay once cent of tax on the gains because the govt doesnt know anything about me owning gold. While I make like 8 times my money, this daytrader probably barely made anything, not to mention he has an insane schedule D tax return with thousands of transactions and thousands in commission costs. Trading is useless.
to eliminate risk i mean
pjledez 4 days ago
the only thing to eliminate trading is not trading, always are risk involve
pjledez 4 days ago
bailnumberguy 5 figure losses? maby go to 2 grade and start to learn something :D what an idiot
Kuziai 1 week ago
@Kuziai yea hes a poser prick
rbtommmyboy 3 days ago
@Kuziai Actually it's quite possible for anyone w/ the right knowledge and intellect, which of course rules you out :)
bailinnumberguy 3 days ago
Today was my first successful trade, went long on Vodafone shares, 0.30p profit in about 15 mins. Hopefully will be like this guy in a few years!
dimitarmargaritov 1 week ago
go monkey long
cunnidvd 2 weeks ago
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Hi guys, Binary Options is another type of trading, that to me is very easy and I make much more with it.
Visit my channel and I'll show you my strategy that brings me $5000 a week.
cuddledesireenicole 1 month ago
ryan reynolds is a day trader??
marts3211 1 month ago 6
i really want to get into day tradng but i am finding how to continue, but no beginer vids
bhills73 1 month ago
Risk & Money Management is what all day traders eventually have to learn to master. No chance to last without it. So talking about the risk and educate traders is very welcome. Thanks for bringing up the subject.
Visualrmmvideos 1 month ago
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you must read this. once you have started there is no turning back. a little 10 year old girl was raped and murderded in 1945. her body was not found until 1947. then a boy last week read this and did not copy and paste this message. the dead girl appeared in his room haunting him and killed him. if you do not copy and paste this onto 10 videos in 30 minutes the dead girl will apear in your room tonight and haunt you and kill you well you better start to copy &
kapabit93 2 months ago
He wanted no exposure overnight. He also had a MF Global account.
miasma1616 2 months ago
Please spend time talking to the mirror , tire yourself out, then come back and say something clear and concise. You have said nothing that an experienced trader knows about. Please take this off Youtube and retry your video. I really think you have something to say and contribute, but it really wasn't done here. Thanks, G.
gregsbest 2 months ago
@gregsbest You sure sound like an entitled little bitch.. Thanks, M
muuraa1 1 month ago
I want everybody to listen to what i am about to say! The entire Futures Market is being controlled 100% by a computer!! You don't believe me? Just check out my profile and watch my videos, you'll see what i'm talking about.
OilTradingAcademy 2 months ago
@OilTradingAcademy
quit your conspiracy bs, hft is alive but who cares, money can be made..computers have short comings as well.
MrDitto30 1 week ago
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TestSubjectNine 2 months ago
marky mark...
rounick28 2 months ago
This guy reminds me of the scout from TF2.
3obJim 2 months ago
Technical analysis is a joke...it's made up...
KATOMATE01 3 months ago
No money management?
seyan1991 3 months ago
I like this guys approach
Biddymc 3 months ago
ive been trading 13 yrs. and this guy does exactly what i do.
scottjohncarson 4 months ago
Hedge. Sell options. Collect dividends. Move on.
miasma1616 4 months ago
"a 5 figure gain today" no wonder it is addictive
nigglebiggle 4 months ago
If you can eliminate risk then you won't ever lose. I've been trading for only 7 years, learning something new everyday and never have i been able to fully eliminate risk. Minimize it, yes, eliminate it fully, heck no. When it comes to day trading the only thing you need to fully eliminate is your biggest enemy which is your emotions: doubt, fear, hope, and greed.
tradinggod 4 months ago
Where is Pete Today? This is a Three year old video and now where is he?
JamJells 5 months ago
@JamJells He runs his own money management firm in NYC with his brother Serge, its called Milman Capital
solitsolit1 4 months ago
@JamJells I saw him the other day at the Lighspeed trading floor and he was trading with bigger size than ever. A very nice guy and very smart. But his Brother serge and Chad are much bigger players in that office. Pete is one of the best pure daytrader out there.
Domibond007 4 months ago
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i want invest $12,000 on forex . i'm thinking (actually dreaming) 20% net (2400$)per month. i'm from asia and don't need to pay any income tax. i just want to know that, can I can make 20% of 12k in a month or not? actually i think the best would 10% with less risk if I do a little bit risk what do u think ? 20% is normal or ?
MrTurkishAzeriNY 5 months ago
His advice his very subjective considering Warren Buffet built his wealth doing exactly the opposite.
cjacobs537 5 months ago
this guy is juiced up - hes not tracking or talking clearly at all
nickoswoos 5 months ago 2
At the end he says, "job has high risk, high rewards" but for the first two minutes he claims to "take the risk out trading".
These two claims don't add up.
rfwelsh 5 months ago 2
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felcas 4 months ago
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felcas 4 months ago
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felcas 4 months ago
@rfwelsh - It make totaly sense to me as he might be talking about the job in an overall view and indeed it is a high risk job for anyone involved, I like to compare it with a battlefield. However when he talk about taking the risk ou trading, he is talking about his strategy, which also makes sense. One might choose an aproach with more risk but more reward or choose a more conservative, more secure, but also less rewarding aproach, which I guess is his choice.
felcas 4 months ago
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LOOK at this site:
lkj-h.beep.com/index.htm(removeme)
maybe information can help you
best regards
werqta 5 months ago
this guy speaks to me :) i have such a similar philosphy
tyndni 5 months ago
This guy seems to be one of the more rational of the gazillion day traders on YouTube. What no one seems to tell you in any of these videos is that there are hedge funds w/ unlimited funds that can pretty much dictate price moves during the day on stocks of their choosing. Apple stock is notoriously manipulated by hedge funds. I've day traded for a while and do pretty well, capital grows at about 35% annually. 5 figure gain days are common, of course 5 figure loss days also. Good luck
bailinnumberguy 7 months ago 5
@bailinnumberguy I couldn't agree more. I've watched alot of these videos and this was one of the clearest and most defined in terms of rationality. I've also heard the massive manipulation of Apple stock by hedge funds. Was curious if you had come across any good sources regarding this type of issue. Thanks!
HanselProductions 6 months ago
@bailinnumberguy yea sure, 35%...rofl.
You would be richer than the richest if you can get 35% annually. Keep dreaming.
Elbottoo 5 months ago
@Elbottoo OK, I'll keep dreaming :). No need to justify myself to you, pal.
bailinnumberguy 5 months ago
@bailinnumberguy 35% every year for ten years, if you started at 100k, you would have 2 billion by now. If you had 1mill, you would have 20 billion. If you had 10mill, you would have 200 billion. Tell me, moron, on which Forbes list do you stand.
keep fking dreaming, moron. You think people are stupid or something.
Elbottoo 5 months ago
@Elbottoo LOL. Actually 35% compounded over 10 years is a multiplier of approximately 20, meaning that $100K can compound to approximately 2 MILLION. You obviously struggle w/ basic mathematics, so I'm not sure how you get off calling anyone a moron. I don't think people are stupid, but you've clearly demonstrated that you're a dim bulb. Not really sure why I'm arguing w/ you, but your analysis of compound earnings is good for a chuckle if nothing else. See you at mensa :)
bailinnumberguy 5 months ago
@bailinnumberguy Ok, so youre a millionaire now huh. Why dont you go clean my shoes, shoecleaner.
Elbottoo 5 months ago
@Elbottoo I'm surprised you continue responding to my posts after your unfortunate math error. Your calculations resulted in an error of a mere 1,998,000,000. If I asked you to multiply 2 and 2, you'd probably come up w/ 40,000.
You're not too bright and these goofy exchanges aren't doing much for me. Good luck w/ your pathetic, uneducated existence.
bailinnumberguy 5 months ago
@bailinnumberguy Im smarter than your whole stupid family put together, moron. You lost nothing but money this whole year and youre trying to convince us that you can compound annually 35%. Do you think we are stupid or something. If you can, you would be the richest motherfker on the planet, moron.
Obviously something went wrong there cos youre whole networth is not even 50k. MORON.
Elbottoo 5 months ago
@Elbottoo Brother, you'r really bad in math!
Domibond007 4 months ago
@Domibond007 Not as bad as you retards who thinks he can make 35% a year. Rofl did momma forget to gave you milk and cookies or something. Idiots.
Elbottoo 3 months ago
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@Elbottoo Ignorant. You Know shit about this business.
Domibond007 3 months ago
@bailinnumberguy I dont think thats true mate.. markets move , not because of manipulation (which is largely a conspiracy theory).. a market moves up when there are more buyers than sellers and they move down when there are more sellers than buyers.. sure hedgefunds can be big buyers n sellers, but there are still patterns to the market and they still contribute to the pattern. Also remember that 80% of hedgefunds dont beat the indea..
regikeyz 2 months ago in playlist More videos from sggle08
@bailinnumberguy shut the fuck up u fuckin poser ur a fuckin prick u dont know shit about trading. 5 fgure loss days.... lmao stop making up shit u fuckin retard i swear ill fuckin find u and ur prick family and murder all of them in cold motherfuckin blood u fat piece of shit CUNT.
rbtommmyboy 5 days ago
@rbtommmyboy You're psychotic, but thanks for your comments.I'd certainly agree that YOU aren't capable of making money in the market. Best of luck little Tommy...
bailinnumberguy 5 days ago
@bailinnumberguy o yea shut the fuck up u fuckin cunt have fun suckin your mom's tits while shes tucking you into bed tonight u fuckin SCUMBAG PIECE OF SHIT NO LIFEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
rbtommmyboy 3 days ago
@rbtommmyboy LOL. How old are you? If older than 12, you probably should seek treatment.
bailinnumberguy 3 days ago
@bailinnumberguy shut the fuck up IM A MAN IM 40! ur a little poser cunt
rbtommmyboy 1 day ago
@fadethetrade
hey buddy try waiting for the re-test of support/resistance or supply/demand. let it break threw then when it re- test that level, you can get long or short. Another is to have a limit order right abouve your key level.... alot of people will push price threw levels and without an order near the top you won't be receiving a low enough price to have your stop underneath it not get triggered on the re-test... hope it helps.
thesecondoracle 7 months ago
رجل ذكي جدا يروق لي هذا المتاجر
1983berlin 7 months ago
you didn't say anything.
pureperil 8 months ago
At 5:08, it went thru resistance.With me,everytime I enter a breakout like that ,the market changes direction and sells, hitting my stop.You don't talk about where your stop was.
fadethetrade 8 months ago
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convictPKlol 8 months ago
"you keep every dollar you make" so what's this
33bigmoney 9 months ago
I may be wrong but basically what hes saying is he has so much money to throw around on this day when google release some earnings he waiting for a good time to get in when the stock evened out and pumped in probably 500k-1m worth of shares helping it go up about $20 per share and profited 10k+
Its interesting there is only 2 vids on this guy and nothing on google. Would like to see more with some actual information....this didnt have much but of course no succesfull traders want to give info..
Jigabooz 9 months ago
@Jigabooz Actually, there's plenty of info abou Pete on Google. Just go to NYmag.com and you'll find some fun stuff about him. I know him personally cause I used to trade with him at the NY Lighspeed office and he was Huge!. He started with 50k back in 1999 and Now he is a multimillionaire on his own right. The day of the Flash crash in 2010 he made like 350k That day alone. Very nice guy, But Chad and Serge are way bigger traders in that office.
Domibond007 4 months ago
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Forex Trading 1985 -------> /watch?v=KACDo519ccY
raducumuculucu 9 months ago 8
Most people here dont understand what he's saying. Yes, risk is risk, and if you listened at the beginning, he said 6 out of 10 times you win. Eliminating risk, is just a simple term for, " getting in at the CORRECT TIME" or Entry if you will.. Simple as that. If you have an angle that works, but it might not go that certain way, 4 times out of 10, your still ahead of the game, by 20%.. I totally agree with this kat, 100%. Knowing when to get IN is the most important part.
rusrious 9 months ago 2
Listen closely! He actually says "this job has a lot of high risk". What does that tell you about his claims about eliminating risk?...it's complete nonsense!!!!
48djm16 9 months ago
@48djm16 Your Right,wheres his stop?,etc. Breakouts never work for me,they always seem to reverse position enough to find my stop.I have to protect my other side.He doesn't mention stops,just overleveraging on a breakout.
fadethetrade 8 months ago 2
it's not the risk....it's the emotions you have to control.
monteromha 10 months ago
It's simple, if anyone says that you acn completely eleminate the risk, you won't make money. If there is any risk free system anyone would do it. You can reduce the risk to an acceptable level, but when they promoise you the world they are trying to sell something
nr6Friso 10 months ago
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charts don't work
will1577 10 months ago
charts don't work
will1577 10 months ago
@will1577 Charts dont work haha, please tell me what does?
kpierre221 10 months ago
Minimizing or eliminating the risk? Attacking the market? Is he deluded or what?
pierneus 10 months ago
mark whalberg
iamnick4life 10 months ago
Sooo.....How do you eliminate the risk in trading?
Mkyle2004 11 months ago
This is to all of the traders out there that want to know about the strategy used.
It is very simple. Support, resistance, breakout , and pullbacks and a times and
sales data screen that filters anything below a block trade (10,000 shares).
Use no indicators. You should also be using at least three different higher time frames : daily, hourly, and 15 min charts.
Stops placed below nearest support.
Follow the above information and cut your learning curve in half.
Happy Trading
CataClone 11 months ago 53
@CataClone Amen to that. This is how i trade and i have a 80% win ratio.
lifehousestock 9 months ago
@CataClone yea
WallStreetIsMine 9 months ago
@CataClone
just a quick question. How much do you let the market fall back before you close the transaction? in other words, where is your stop loss? Thanks for your help.
MartellusCarolus 5 months ago
@CataClone hey what do you mean by supply resistance and breakout?Thanks,
friendly neighbourhood 14 year old trader
ElementHDMac 1 month ago
you guys just probably hating on this man! this guy seems like he nows what his doing!!
Nate37982 11 months ago
what did you drink last nite mate?
gtopcu 11 months ago
I love this video. I wish I had the balls to trade huge size on setups like that. What if for example it didnt break that level and you are stuck long 100,000 shares with very few bidders or a thin level 2 to sell out, or a head fake? You can get crushhedddd. Youve got a nice setup, you've got to have confidence and convicion in yourself and your trades in this market to be successful, and I can tell you do. I wish I could learn more from you man. Lightspeed seems like a great place to trade.
neoclassical1985 11 months ago
@neoclassical1985 come on it theres a few empty desk and the guys are willing to educate. He wouldnt be long 100k google thats for sure. Most guys build into larger positions as the patterns developing. To buy 100k shares of a stock you should be in something very liquid like AMZN or IBM or AAPL to name a few. You wouldn't try to build 100k in something like SAM intraday that would be asking for it anal. Come on in any day and talk to any of us before 930 or after 11am of course lol
kpierre221 10 months ago
@kpierre221 I would love to come talk to some traders from the lightspeed office but I live in canada and I work for a small trading firm on the east coast. I would assume there are no lightspeed offices in canada, where are you located?
neoclassical1985 10 months ago
Pete won a trading contest in 2010, I saw him on a Dukas video.
danpav86 11 months ago
so let me get this straight...you "almost eliminate risk" by "getting in big and letting the chart do the work"? Yeah, that sounds counter-intuitive...
benzbubblecat 11 months ago
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hear mike here at daytraderinterviews.blogspot.com
MYNEWMOKE 11 months ago
how much a broker working for a company or institution is allowed to lose a month and how much is allowed to risk?
masterpatric07 1 year ago
Trading itself is the act of balancing profit and loss sequences. Losses are a natural part of the process... they cannot be eliminated without likewise eliminating profits. That fact is pretty hard for most people to grasp, because it seems perfectly illogical. One reason why professional trading, professional gambling and any other risk/reward balanced endeavors seem so easy but perform so hard. Human logic and reason get in the way of reality. Trading without risk=failure.
yahoopl3 1 year ago
this is what bothers me about these types of interviews. as a trader when im listening to another trader i dont want to hear the hype and sizzle about trading. i want to hear an actual strategy thats being used. nice chair,nice monitor set up,great trading location,but what did i learn.. ziltch..... give us something to chew on ya know..
MYNEWMOKE 1 year ago
a sleep deprived mark walberg, mark walberg on crack
sr20turbo200sx 1 year ago
"Minimise or completely eliminate almost all of the risk" haha I love that one
bigmaxy07 1 year ago 2
Marky mark
scissorspaperrap 1 year ago
Give the guy some credit. Obviously he's able to make a living at it and thats all that matters. Demo accounts are about 25% of knowing how to trade. Orders,stops etc are ll that they are good for. Emotions , panic, fear,greed you can only do that with real money. Go small on real accounts, make money with 100-200 shares for a month or two, the amount you make is not the point. Just win and learn how to lose. Then bump it up to 200-400 etc.
BUYFIXSELL 1 year ago
you remind me of Mark Walberg :)
goodcat1982 1 year ago
Does anyone can find this guy on google , linkedin or anywhere on the web? no trace really fascinating.
paraglide01 1 year ago
Comment removed
Domibond007 1 year ago
This has been flagged as spam show
Pete are you hiring? I have always followed the markets from an early age it's somewhat a passion for me and i would like to do it professionally. Here is email Cueles@gmail.com.
les2976 1 year ago
attack the market???
TheErasec 1 year ago
You cannot eliminate risk in trading! you can only really mange it and try to minimize it, but it never gets eliminated!
MrWTFNJ 1 year ago 42
@MrWTFNJ
Wash your ears , he said almost
pwnza721 1 year ago
@MrWTFNJ Totally lies. I eliminated risk in trading by switching my car insurance to GEKO. GORDAN GEKO TO BE EXACT. MWAHAHAHAHAH BITCHES!
Kiratsuchii 9 months ago
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Hi guys, I live in Brazil and operate on the stock exchange Bovespa in sao paulo, if you have someone who operate in the market here, send me an email to exchange information and tips.
Regards to all
LANDIMRJ@HOTMAIL.COM
landimrj 1 year ago
Thanks Strong Brother,no over night positions was Priceless.
airsquad1 1 year ago
Pete u should add some more videos abt ur experience , style, stratagies
Faraz70 1 year ago
Trading is a Test against Yourself. Are you going to listen to your own rules? Are you going to put in the time effort and learn?Do you have the power to detach yourself from the money when putting a trade? Do you have Patients? When shit hits the Fan, can you keep yourself from entering Tunnel Vision. Its a Test against Yourself.
peruface 1 year ago
@peruface tell me something i haven't heard.. they're all the same.. these rules aren't going to help anyone.
There's only one rule you need to follow and that's called Persistence.. cause I guarantee you this.. when the shit really hits the fan.. everything else goes out the fuckin window except for this one rule. The less than 1% who keep this rule will be traders.
keokio7 1 year ago
@peruface agreed, most people don't get that point I tell em all the time the theory is simple, its the self control thats a bitch. That tunnel vision is bad hahaha thats when you ask yourself about 1million times why am i holding this garbage, then starts the prayers, after prayers are unanswered you're left without religion and with less money for not sticking to the plan of reducing your risk based on your ability to act.
kpierre221 10 months ago
i only trade 2-3 times a month and average 40% per month. Took me 6 years to really find and perfect my own style that fit my personality sort of speak. Do your own research, trade alone, don't listen to anybody else's trade. Read everything you can about Jesse Livermore.
peruface 1 year ago
@peruface wow .. marty schwartz averages 25% a month over his lifetime.. and he's considered one of the best out there winning numerous national investing competitions. You can avg 40% returns a month? so you can return 11,000% a year compounded? lol.. if you're going to lie at least make it sound realistic
keokio7 1 year ago
@LawrenceLugar1 good guys make millions like at any other thing
kfxowner 1 year ago
i love your chair.....blends well with my Acer predator.....
malmsteen2002 1 year ago
then how does the company make money?
SwerVQE 1 year ago
4 minutes of complete nonsense. This guy knows thing. The only good thing about this video was that chair!
netloose 1 year ago
UUUUH - you knuckleheads who doubt Peter's credibility...look at his other video - "the day trader" and look at the 1:25 mark.
Check out the "buying power" in his account.
Yes, that is 10 million dollars plus.
specialotool 1 year ago
@specialotool actually my friend is 18,433,000 millions dollar.
GeoffBond007 1 year ago
@specialotool Actually hiz buying power is over 18 millions bucks.
Domibond007 1 year ago
He's got a touch of the Mark Wahlberg's about him. Have no idea if he's legit or not though. About 90% of people involved the trading industry are just scammers after your money. I think you have to learn on your own through demo trading and then small stake trading, and build up as confidence grows.
kellyfortune 1 year ago
@kellyfortune that's very true. go on any website and you will have a lot of people wanting to teach you how to trade from $100-$10,000. it's up to you to figure out how you want to trade, what you want to trade, and how much you are willing to risk. in the end, there is no system, it's money management
suprattkk 1 year ago
@kellyfortune wow! u wrote one of the most ridiculous comment regarding trading of all time.......scammers??...LOL! So dat makes me a scammer eh.....do a thorough research kid.....
malmsteen2002 1 year ago
This has been flagged as spam show
@kellyfortune look at his other video - "the day trader" and look at the 1:25 mark.
Check out the "buying power" in his account.
Yes, that is 18 million dollars plus.
GeoffBond007 1 year ago
How do you know what system is best? Trading earnings is not easy. Most new traders don't ask enough questions if any at all. You have to have to realize that this business is not a guessing game. That's why only 95% of traders make it. Most guys just don't get it. Be aggressive when it comes to learning and take it easy when just starting. That’s it for today's lecture on how to be a player.
m100bill 1 year ago
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Invest in forex and earn money.
Remove spaces w w w
w w w .youtube.com/watch?v=8UkDrT4F_ ag
fashion20121 1 year ago
haha I go out with 50 positions every day! eek!
jamesgambino 1 year ago
@jamesgambino hmm?? you are a potential suicide trader :D
joshuademoraes 1 year ago
If you took a systematic approach, should you let your system executed by computers instead of staring the monitorsssss wholeday long?
boblamhk 1 year ago
I've just been searching for about 30 minutes on different trading techniques and how to actually make money and I have never been bombarded with so many blatant scams, lies and bullshit in years.
The only time that I've seen a trader make sense is when they openly brag about their success. I think I've learned far more about potential price movements in the Forex markets studying history and losing my first $400. I guess ignoring these assholes is the way to go.
Lethn 1 year ago
I trade in bangladeshi taka's and I have 5 figure days all the time. ;-)
paraglide01 1 year ago
Here's something he could have said that is far better than the bullshit he speaks about. Most men are prone to over-trading. That is, you lack confidence in your positions so instead of maybe trading once every 3 hours you might trade nine times every 3 hours just to feel like you're in control of your money.
This sends your money backwards. Try cutting down your quantity of trades by 30% and see how you perform.
sabdow 1 year ago
@sabdow
I totally agree,
I trade during the morning run on London time and make my target in 1 or 2 trades.
Then I try to go for some extra and start loosing money and end up having to compensate and start gambling and end up doing maybe having done 10 trades and have little or a negative result..
paraglide01 1 year ago
Nothing pisses me off more than listening to stock traders who talk BULLSHIT. Not once did this guy say anything that is concrete except "I made a nice 5 figure sum today" and that's not even concrete.
The secret is not on youtube or in books. Your skills and efficiency in the market lies in your own willingness to trade and learn in the market.
He is so shady. What the hell did he say? He talks like a nonsensical philosopher.
sabdow 1 year ago
go out, play some galf!
pallant25 1 year ago
blaa blaa blaa !!!!!!!!!!!!
meghobrial 1 year ago
aahhhh good luck buddy but youre a beginner
wireashly 1 year ago
bs! no you dont keep all your money if you work in a firm you have to give them a percentage
suprattkk 1 year ago
I hope one day can be like you, thanks for the sharing.
Happy88dog 1 year ago 2
This has been flagged as spam show
Here's a question..... I have been very successful in trading the NASDAQ and have gone from 150k to 435k in less than a year.
I use Telechart 2000 chart and indicators to do this.
However, I would love to trade with higher liquidity and in different markets (commodities, futures, forex, etc.).
Do you think my knowledge would transfer over to another market and where do I begin?
I don't even feel comfortable trading New York stocks because the chart patterns aren't as tight as NASDAQ.
lineba20 1 year ago
Seems like a nice knowledgeable guy, but you didn't really explain how to eliminate risk.
professor314 1 year ago 3
Hi Pete,
Nice video, i like the screen set up. One question, why can't you just trade just one stock?
beenaontime 1 year ago
i have a question ???
how many times did you shit in your pants while you are trading forex loool
GARMIN2009 1 year ago
Hey pete, i really like your posts on youtube, I also read your article in New York Magazine, really cool and very impressive. I have being trading for about one and a half years and I am still learning patience, its tough, but with persistance I will get it. thanks for putting your posting online, we need more positive cool traders like yourself.
Cheers
Gerry :)
gerrykelly1 1 year ago 2
What he did with his Google trade; He waited for resistance to be breached , once it did Resistance became support and his position sat on that support ensuring good safety for position. Now he has a big position and moves the market, his own buying drove the price up and cemented it's own support unless a big Trader went against him and behind him the market he's almost ensured success. That's why he waits for these "setups"
FXThug 1 year ago
He's trading with a lot of cash and moves the market, most people aren't going to be able to attack positions or go monkey long lol.
FXThug 1 year ago
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busystock 1 year ago
thats a lie
Stocks can also go up overnight-after hours-the probability is 0.5
And most good earnings drive prices up
I dont agree with this novice
Cuntlickerr 1 year ago
he didnt say they cant go up overnight he's saying the risk exposure is much greater overnight due to lack of liquidity and inability to exit trades if adverse news is released. Also, hes saying good earnings dont necessarily mean the stock will go up... it has more to do with the expectations of traders and how much has already been "baked in" to the current price. I can tell you he is correct... definitely not a "novice"
stuckeyforpres 1 year ago 2
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What a bore this guy is!
Don't day trade - buy good stocks at good prices, and build yourself a small fortune!
Search "Bullworthy" for much more practical, interesting, and instructional videos!
bullworthytrends 1 year ago
This guy seems a bit shady. A lot of words, but doesn't actually say anything.
databasemarketer 2 years ago 14
there's another video of this guy (pete milman) here on youtube, where you can see his buying power or around 20 millions.
Domibond007 2 years ago
@Domibond007 Where???
dunacha 1 year ago
am sure day trading works. but most successful traders are not day traders.
jayangli 2 years ago
@databasemarketer - haha yea a lot of emotions but few words, definite meathead
MrPIainview 11 months ago
i like to do that too
rmarmolejo2 2 years ago
This comment has received too many negative votes show
Nice vid. Your office looks like a space shuttle. But I still prefer using simple forex robots that trade for you. I just sit back with no risk at all and look at the robot getting profit for me.
HOW2GetFREEforexROBO 2 years ago
"a nice 5 figure today", HOLLY CRAP!!!
bmw2go11 2 years ago 3
Yes very good.
Most people concentrate on how much money they can make where in fact, they should concentrate on how much they could lose.
We are designed to look for the profits when we should look for the loss, it is so hard to fight that.
But he who is patient(all philosophical) stays in the game and takes money from the other 90%.
Nuanceqwest 2 years ago
with all this money you make maybe you should buy a new camera, that flashing makes me feel like im going to have a damn seizure lol
libtechrider2010 2 years ago
Interested in a Job. I have my own Capital... I Have a brokerage, I understand many of the rules and systematics, and most important Chart-patterns.
I'm out of Boston, MA.
If anyone wants to start arranging a trading room, or if there are any trading rooms arranged, please contact me through YouTube
thebv1256 2 years ago
great video, thank you!
fyerflai 2 years ago
You should do more videos. I've seen a few videos, and more people cannot speak on tape, and are downright boring or scary.
Besides, I need a lot more help with trading.
I've gone from doing very very well, to doing very very poorly.
The more information the better, so make some more videos!
nathanielbriggs 2 years ago
nathanielbriggs, the reason why you were doing well at first - and now you are not is because most so called "trading secrets" either don't work or you get lucky and catch a part of the market cycle that produce profits only short term. I recommend checking out Martin Cole. He has been trading for over 20 years and has taught live classes where they traded with real money. You will learn how the market really works instead of wasting your time with other "$97 secret sellers".
melvinh007 2 years ago
When I first saw the title of your video - I said to myself - "Here we go again". You can not eliminate risk in trading if you want to make a living from trading. And you know that because you contridict yourself in your own video by changing your words to "almost eliminate" lol. If there is no risk - then there is no reward.
melvinh007 2 years ago
To this day I do not know why people will not just buy physical 1 ounce gold bars. All the gains you make arent taxed because you dont report it. Gold is going to at least 3k at a minimum. Who in their right mind would trade in stocks? The game is so against you especially when it comes to taxes. When the dow/gold ratio hits 1 you cant just sell out of gold and buy stocks hand over fist at bargains. Guys, please, buy gold and stop making wall st rich with your commission dollars.
30percentplusreturns 2 years ago
I put most of my money in physical gold bullion years ago at about 400 an ounce. I will hold until gold hits at least 4k. I will then sell my little pieces of metal and not pay once cent of tax on the gains because the govt doesnt know anything about me owning gold. While I make like 8 times my money, this daytrader probably barely made anything, not to mention he has an insane schedule D tax return with thousands of transactions and thousands in commission costs. Trading is useless.
30percentplusreturns 2 years ago