Hey hey, what's up my friend, so in today's episode i want to discuss this topic. Should you learn trading from youtube now i know you might be thinking right now, you're, definitely going to say yes, man after all, you're teaching trading edu educational content on youtube. So i get it, i get it where you're coming from, but to be honest right, i'm trying to be a subjective down here and the answer isn't as simple as just a flat. Yes or no.

So let me explain so number one. Yes, you should learn trading from youtube, but you have to meet certain criteria so number one. If you are the type of trader who is new to trading, you do not know what trading entails. You do not know what you do not know.

Then. Yes, going to learn, the basics from youtube is a great starting point because it's free, so it's kind of like you know you are bought. You want to watch television, you want to be entertained, but you do not know what good channels or what shows are being shown right now. So you kind of you know channel serve from one channel to the next until you find something that resonates with you.

So it's the same thing down here. If you do not know what you do not know, if you're new to trading you have less than six months trading experience then going to youtube and to find out more about trading to know what it entails is a fantastic way to get your feet wet because, Primarily, it's free right, all you need to do is is to spend some time right then, to get your basics up to to speed and a tip to share with you is that you know after being years on youtube. There are generally no kind of two kinds of trading educational channels out there right. The first type of of trading channels are those you know if the lamborghinis, the bikinis, the cars, the babes and stuff like that right and then the other ones are the ones which are the more boring, vanilla, just plain old trading educational stuff.

So my suggestion is that if you really want to learn about trading, avoid those you know lumbos ferraris bikinis type of channel, because the the content that you get won't be as deep right compared to those type of plano, vanilla, trading, educational channel and just to you Know mention of you i'm no way affiliated with them. I have not taken their paid courses or whatsoever, but you can look at you at uh channels, like you know, adam cool, humble trader, the trading channel. Why straight right? These are, i would say, in my opinion, right great channels for you to get your feet wet and to learn the basics of trading, and you know the content is out there. It's free feel free to explore it right, and i would say you know you would definitely get a much deeper understanding about trading and best part.

You don't have to you know, spend a cent okay. So that's kind of the the first thing that i want to talk about. The second thing is uh is no. You should not learn from youtube right.

If you happen to be this group of trader, where you already have, you know, mastered the basics, and you have already and you're starting to feel that you know those trading educational content on there are starting to be repetitive right. You already know this stuff right. All this stuff, you have learned it somewhere before and if you have starting to feel like this, or maybe you happen to be one of my subscribers who thinks that right, man rainer you always know repeating the same old stuff over again right. Can't you give me something new if you happen to be that kind of trader or you're feeling like this.

My suggestion is to really stop watching trading videos on youtube. You don't need any more you pretty much. I would say you know. The knowledge in your head is like 80 90.

There already, you really know. What's risk management position sizing, you know what support resistance candlestick patterns. You don't need any more of this stuff. What you need to do instead is to let me share with you a formula right, the dura formula.

What you need to do number one is to develop a trading plan, stop watching youtube videos. More videos will not make you a better or more profitable trader. Instead, it's time to put what you know to use right and i'm gon na share with you uh how you can do that number one develop a trading plan. Your trading plan should tell you what your trading strategy entails.

When will you enter a trade? When will you exit under what market conditions will you trade? How much are you risking per trade position sizing and much more that's what your trading plan entails. Number two execute your trading plan. What's the point of having a trading plan right spending hours on it, but if you don't execute it consistently, so what i want you to do is to execute your trading plan consistently. Number three record: your trades right record your trades according to your trading plan, so you know which trading setup right, um, the ones making you money and which are the ones you know that are costing you money and finally, number four review: the trades that you have Taken according to your trading plan from there, you have objective trading results right that you can.

You know, base your decisions on you know, should you continue taking this, for example, this breakout trading setup? Is it making you money in the long run, or should you stop taking counter trend trades, for example, because it's actually costing you money? So this is how you go about. You know getting to the next stage of trading right. If you are already, you know having certain experience under your belt, if you find that the trading content out there is, you know, being regurgitated, it's the same old thing over again. Stop watching more trading videos, stop watching youtube.

Videos pause this video close it right and get your trading plan up and running. Okay. So, as a quick recap number one! Yes right, you should watch uh trading videos on youtube. If you do not know what you do not know, especially if you're someone who is new to trading less than a year, experience number two know if you stop watching youtube videos, if you already have a few years under yeah under your belt and you're fighting starting To find now, things are getting repetitive and boring.

That's where you should really right use the dura formula, get up your trading plan right and you know, take your trading to the next level. Alright. So with that said, i wish you good luck. Good trading, i will boom talk to you soon.

You.