Kardec TraderFutures Trader. Creator of The Midas Touch. Mentor

Focus your trading on this in 2024!

17 Feb 2024 · 1 min

Watch on YouTube

0:55

This YouTube video by Kardec Trader (uploaded Feb 17, 2024) gives practical trading advice for 2024. The speaker urges traders to focus on understanding the order book and the buyer–seller relationship rather than blindly following chart support/resistance. They recommend practicing on a paper trading account for a couple of months, then starting live trading with a small amount (suggested $1,000–$2,000) and continuing to practice for ~4–5 months before risking significant capital. The speaker warns that funding large starter balances (e.g., $10k–$30k) often leads to losses.

Questions this video answers

February 17, 2024

About $1,000 to $2,000

Practice a couple of months on paper first; then practice for about 4–5 months while trading small live capital

Funding accounts with $10,000, $20,000, or $30,000 (examples given)

Chapters

Avoid following these patterns, avoid following basic things that people follow. Hey, these are support levels, these are resistance level. I think go into the fundamental of understanding the relationship between buyers and sellers. I would understand the order book. What is the order book? How does the order book work? How does it showcase the relationship of buyers and sellers? You need to understand the context and then understand the relationship of buyers and sellers. Before you go on and take on a trade. You can practice all of this on like a paper trading account. So you can go open up an account, take fake trades. It's just fake money, just in practice. So I would recommend someone to do that first for a couple of months and then start with a very minimal amount, even like a thousand bucks or 2,000 bucks, and just start practicing for four months, five months, and just get familiar with the concepts before dumping in a lot of money. Yeah, I think the biggest mistake people make is they, they open an account, they fund 10, 20, 30,000, looking to make a lot of money, and they blow it, which is what's going to happen.