# Trader Nick: How To Trade With ONLY $500 | WOR Podcast - EP.130

An episode of [Words of Rizdom - Trading Podcast](https://invisiblenetwork.ai/podcast/1780241706), 26 Oct 2024, 1 h 55 min.

Audio: https://traffic.megaphone.fm/APO4764720865.mp3

If you enjoy these conversations, please follow the podcast and leave a rating on Spotify. It helps us reach more traders and continue bringing you the best guests in the industry. ____________________________________ 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! __________________________________________ SUBSCRIBE NOW! Like this video, comment below who you’d like to see next, and turn on notifications to never miss a new video, as we post new episodes weekly! __________________________________________ Free Telegram Community! 👉🏽 https://t.me/pocketsofrizdom Free Trading Plan 👉🏽 https://words-of-rizdom.ck.page/0542be7af0 __________________________________________ TradeZella: Use the Best Trading Journal Use Code “RIZ10” for 10% Off or Code “WOR” for 20% off 👉 https://refer.tradezella.com/riz Alpha Capital: Use Code "RIZ" for 20% OFF ALL Challenges 👉 https://bit.ly/AlphaCapitalWOR Alpha Futures: Use Code "RIZ" for 20% OFF ALL Challenges 👉 https://bit.ly/AlphaFuturesWOR __________________________________________ Guest's Socials: Nick's Instagram: https://www.instagram.com/tradernickfx Nick's Youtube: https://www.youtube.com/@UCPCPE5MoI7DS1WiVB_-mzNw __________________________________________ Riz’s Instagram: https://instagram.com/wordsofrizdom Riz’s Twitter: https://x.com/wordsofrizdom __________________________________________ 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 __________________________________________ Disclaimer: The content on Words of Rizdom is for informational and educational purposes only. We are not personally affiliated with any of the guests featured in our episodes. Our role is solely to interview them and share their insights, experiences, and expertise. The views expressed by our guests are their own and do not necessarily reflect the opinions or endorsements of Words of Rizdom.

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