On this episode of the Words of Rizdom podcast we are joined by Trader Nick. Nick is a well known Youtuber and day trader that has verified profits of over $250,000 with live login receipts. Nick's opinions on the current climate in the trading space is that every trader that has a significant profile and sells mentorship should provide a proven track record. In this podcast we discuss the controversy around prop firms and their future, the importance of backtesting, how Nick flipped $50,000 during the pandemic and he also shares a few hidden tips & tricks to profitability! I hope you guys enjoy this incredible episode, it is packed with value!

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Guest's Socials:

Nick's Instagram: https://www.instagram.com/tradernickfx

Nick's Youtube: https://www.youtube.com/@UCPCPE5MoI7DS1WiVB_-mzNw

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Riz’s Instagram: https://instagram.com/wordsofrizdom

Riz’s Twitter: https://twitter.com/wordsof_rizdom

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Timestamps:

Chapters:

00:00:00 - Introduction to the Daily State of the Industry Update

00:05:52 - The Evolution of the Trading Space

00:11:47 - Quality Businesses Stand the Test of Time

00:17:26 - The Pain of Growing in the Industry

00:22:57 - The Importance of Back Testing

00:28:56 - The Importance of Position Sizing and Trading Psychology

00:34:22 - The Importance of Studying Particular Assets

00:40:00 - The Value of Showing Transparency

00:45:53 - Fundamental Analysis and Data Tools for Trading

00:51:56 - The Importance of Fundamentals in Trading

00:57:21 - The Importance of Healthy Discussion and Balance in Trading

01:03:03 - The Importance of Accountability in Trading

01:08:35 - The Importance of Fundamentals and Technicals

01:14:25 - Balancing Trading and Content Creation

01:20:34 - Increased Trading Due to COVID-19

01:26:27 - Sizing into Trades and Adding to Winners

01:32:20 - Balancing Trading and Other Activities

01:38:07 - Self-control, self-discipline, and self-awareness in trading

01:43:57 - The Journey to Success

01:49:20 - A Challenge to Prove Authenticity

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DISCLAIMER: I am not a financial adviser. The videos on my channel are for educational purposes only

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