Video summary
The primary cause of blown trading accounts is often a combination of emotional distress and external influences rather than just poor strategy. The speaker identifies Fear Of Missing Out (FOMO) as the first major culprit, where traders rush into setups they have been watching for too long, hoping to catch a quick profit before the opportunity disappears. This urgency makes traders vulnerable to market manipulation by large institutions who intentionally push prices against retail traders to trigger stop losses. To combat this, the speaker emphasizes the necessity of patience and having a trusted strategy that eliminates the need to chase trades. When a trader believes in their system completely, they can wait for high-probability setups without anxiety, knowing that if the market does not present an opportunity according to their rules, it is simply not time to trade yet.
To build this trust, the speaker introduces "top-down analysis" as a concrete approach to reading price action and predicting market direction with high accuracy. This method involves analyzing higher timeframes first to establish the overall trend before entering trades on lower timeframes. Specifically, traders should look at the monthly chart to determine the long-term direction, then use the weekly chart to plot major support and resistance levels, and finally check the daily chart to ensure the immediate trend aligns with the bigger picture. Only when the daily trend flows in the same direction as the monthly trend should a trader consider entering on the four-hour or one-hour charts for refined entries. This structured approach acts like a boat flowing with the current of a river rather than trying to paddle against it, significantly increasing the probability of success and removing the fear of missing out because the strategy dictates when to act.
Beyond technical analysis, the speaker highlights two critical external factors that destroy trading accounts: social media consumption and signal groups. Social media often promotes an unrealistic lifestyle filled with luxury cars and instant gratification, which creates pressure on traders to achieve quick results and leads to revenge trading after losses. Furthermore, signal groups are frequently designed to profit from the brokers' commissions rather than the success of their members, as owners earn money every time a member trades regardless of whether that trade is profitable. The speaker advises traders to limit their exposure to such content, protect their mental space, and learn to analyze the market themselves instead of relying on others to feed them "fish." By avoiding these pitfalls and adopting a disciplined, self-reliant approach using top-down analysis, traders can stop blowing their accounts, achieve consistent profitability, and eventually use their trading income to fund their desired lifestyle.
Read the full video transcript
Forex traders, by the time you're done
watching this video, your days of
blowing your trading account will be far
behind you. Think about it. In this day
and age, why are traders still blowing
their accounts? A lot of traders have
given up. They are tired. They are tired
of blowing accounts. You are probably
just getting into the market or you're
someone in between. And you're like, do
I quit? Why not quit? The reason why
traders are frustrated with the market
is due to blown accounts. So, ladies and
gentlemen, we are here to fix that
problem right now. All right, my people.
My name is Dapo Olish. I've been doing
this for 14 years. Been like the market
has stressed me, but the market has also
blessed me. So, trust me when I tell you
I'm in the best position to tell you how
exactly this thing works. You see, my
days of blowing accounts were very sad,
cried,
it was horrible. But I noticed that
there are certain things that were
causing me to blow those accounts. And
today, guys, I want to share this with
you so that we can identify these
reasons, but most importantly, let us
find a solution to these issues. The
very first reason why a lot of traders,
especially traders like you, are still
blowing your account is because of
something called FOMO. You're probably
thinking, okay, yeah, FOMO, whatever.
What does he mean by FOMO? FOMO simply
means the fear of missing out. Like
I've seen several situations whereby And
this used to happen to me a lot in the
past, okay? During my early days, I was
struggling, you know how it goes, right?
A lot of you traders are still in that
position, but
I will see a setup. I've been stalking
this setup for a while. Like I've been
looking. You get me? Just like you guys,
you're looking at this setup for a long
time. And then you're just like, bro,
let me quickly get into this. Like let
me There's nothing left for this setup
to do. Let me just get into the trade so
that, you know, the earlier I get in,
the more profit I can make because we
are traders, we know this. If we get in
pretty early, right? The distance
between our entry and our TP is wider.
So, that's more money for us. And guess
what? We get into a trade. But what you
guys don't understand about the Forex
market is there's something called
market manipulation. Yes. Market
manipulation occurs whereby
the industry players, the big boys who
can see the whole market, who can see
all the order flow, liquidity provision,
and all that, they know. And what do
they know? They know what you don't
know. They know that if they push the
market, right? They push the market,
people like you and people like me
before, we'll be like, "Oh my god, the
market is ready." And then we get into
the trade, right? And then what they do
is they preempt you to get into the
trade, right? And then they drop the
market. It hits your stop loss. And
before you know what's happening, the
market starts going back in the original
direction that you predicted. Sometimes
the issue might not be your strategy.
Trust me. Because how many times have
you seen the market, right?
Like trigger your entry, you get into
the trade, it stops you out and goes in
your direction. That is absolutely
freaking annoying, right? So, guys, the
first thing you need to understand is
FOMO, right? The fear of missing out.
Ladies and gentlemen, this is exactly
where patience comes into play. Now, the
second reason why a lot of traders
actually,
uh, you know, constantly blowing their
account is because they don't have a
strategy they can trust. Now, back to
the issue of FOMO, right? And now I want
to talk about strategy. But back to the
issue of FOMO. If you had a strategy
that you knew, oh my god, regardless of
whatever happens, provided I wait for my
rules of engagement, provided I wait for
the market to bounce off of my support
level and give me a bullish engulfing
candle, provided the market comes into
my zone that my strategy says is a good
buy, provided I wait, my strategy has
never let me down. The problem is a lot
of traders don't have that strategy that
they can believe and trust in. And
that's what pretty much even causes the
FOMO.
Yes, obviously you can have a strategy
you trust and still want to, you know,
play a fast one. But the primary reason
is a lack of trust in strategy. Now,
ladies and gentlemen, I stopped blowing
accounts once I was able to find a
strategy that, hm, I'm like, I trust
this. I
>> [laughter]
>> I trust this bro. I trust this
strategy.
Uh ladies and gentlemen, I stumbled on
an approach called the top-down analysis
and you know, it you know, it
transformed my trading, right? I I was
no longer afraid to first of all, um and
there are also going to be seasons
whereby
you don't have quality setups, right?
And then obviously, you're like, "Okay,
I need to find a like I need to find
a pair to trade. I need to find a setup.
I need to quickly jump into the Like I
need a
It is a setup right now if I'm going to
I'm going to die because I need to
trade."
When you have a strategy you trust,
right? You believe it so much that even
when there are no setups, you're like,
"Cool." Because I know when my strategy
tells me it's time to buy and I buy, I
make money. When my strategy tells me
it's time to sell and I sell, I
absolutely make money. It eradicates the
FOMO because you're not in a hurry to go
anywhere. You know, once my strategy
tells me it's time to buy, then it's
ready. If it doesn't tell me it's time
to buy, then it's not time to go. Do you
get what I mean? Like and also, if the
market isn't exactly presenting great
opportunities and my strategy tells me
to relax,
I relax. So, back to what I was saying,
I obviously
was struggling with the market until I
discovered
an approach to the market called the
top-down analysis. A lot of you guys
have heard me talk about this in my
previous videos, but I want to bring it
to your attention again. My I stopped
blowing my account when I discovered the
top-down analysis approach and a lot of
Forex Mastery students who have even
taken
learned how to do the top-down analysis
on obviously the Forex Mastery program
can attest to this that their trading
significantly changed.
They said goodbye to blowing their
accounts, but let me let me share with
you the basis of this strategy so that
you guys can, you know, understand
exactly why I love it so much and why it
actually does work. You see,
the top-down analysis is a situation
whereby I go on higher time frames,
right? I look at the overall direction
of the market. I'm like, "Okay, on the
monthly time frame, the market is for
example, Euro USD, the market's heading
up. Okay, cool." I come on the weekly
timeframe, okay, and I'm able to plot my
levels. I come on the daily timeframe,
and on the daily timeframe, it allows me
see the most immediate trend within the
overall trend. So, what I'm trying to do
here is like an FBI agent, I'm building
a case. First of all, you guys need to
understand that trading is broken down
into two segments. There's market
analysis, and there's trade execution.
Yes.
So, what the top-down analysis helps me
do is it helps me predict the market
direction almost 100% accurately.
Because once you know the direction of
the market,
clicking a buy or clicking a sell
becomes second nature. So, back to what
I was saying, the monthly timeframe
shows me the overall direction. The
weekly timeframe is where I come to plot
my levels, because these major levels
matter a lot. A lot of traders are
always on lower timeframe. That's why
you see, when you plot your levels,
you're like, "The market didn't even
respect your levels." because you're
plotting it on the wrong timeframe. So,
where you want to be plotting your key
levels is on the weekly timeframe. Now,
the daily timeframe is where you come
and find the most immediate trend within
the overall trend. What the hell does
this mean? Simple.
Monthly has told you EUR/USD is going
up, but obviously, you can't trade the
monthly timeframe. You want your daily
trend to align with your monthly trend,
because the daily trend is the trend you
can actually trade. That is the one that
has ups and downs and pullbacks that you
can actually take advantage of. Now, you
want the immediate trend to be flowing
in the same direction as the bigger
trend. It's like a boat, right? Simple.
You want the freaking boat to be flowing
in the direction of the big river,
because you cannot paddle against the
whole freaking ocean. You can't do that.
The The current will absolutely crush
you. So, that's what the daily time You
don't never touch your charts. Never
touch the buy or sell if your daily is
not flowing in the same direction with
your monthly, forget about that trade.
And then, once you can identify that the
EUR/USD daily is flowing up, same as the
monthly time frame is flowing up, now
you have what they call directional
confluence.
The chances of your trade working out is
now 10 times more. And then on the
4-hour time frame is where I like to
come and look for refined entries. And
then on the 1-hour time frame is where I
obviously come and click my buy or sell.
Obviously, this video is not long enough
for me to break down every aspect of how
to plot the levels, how to actually do
the top-down analysis properly, but
I wanted to bring this to your attention
so that you guys can understand that
this is the most concrete approach to
reading price action. And once you can
master this approach, you have nothing
to worry about. Your days of blown
accounts will be far behind you. Once
again, guys, I teach this approach,
top-down analysis, to the Forex Mastery
students on the Forex Mastery course.
The link to get it is either somewhere
around here or in the description down
below. This is the only true way first
of all, you can stop FOMO. And secondly,
you actually have a strategy that you
can rely on. And on Forex Mastery
program, I teach about my entry
strategy, my exit strategy, my way I
like to place my stop loss, my risk
management strategy, but most
importantly, where the hell do I get out
of the trade? Very important. So, I
teach all of that on the Forex Mastery
program, guys. The link to it is
somewhere around here, somewhere or in
the description down below. You finally
have a strategy you can trust. All
right, guys, so the third reason why you
keep blowing that account and the third
thing we really need to fix is social
media. You see, the problem with social
media right now is a lot of you guys
were lured into the market because of
all the fancy cars that you see on
social media. I mean, right now the most
popular Forex content on the internet is
about cars, right? Forex and cars, they
go hand in hand. They're like husband
and wife. Like they are like
Or rather, Forex traders and cars, they
love each other. So, a lot of you guys
are drawn to that kind of content and
because of the fact that you're drawn to
that kind of content, you consume it
very regularly and then a trading
account
that is supposed to take you a period of
time for you to grow or potentially
flip, you want because of what you keep
seeing on social media, you want the
Lamborghini now, you want the Ferrari
now, you want the nice car, you want the
lifestyle right now. And the challenge
is Forex doesn't give you instant
gratification and this is exactly why a
lot of people keep running around in
circles. This situation is not peculiar
to you. I also faced this situation when
I was obviously starting my Forex
trading journey. At the time, there were
a bunch of Malaysian boys, you know,
they would post guys, it was crazy
because I was part of their signal group
and I'll get to signal groups in a bit,
but I was part of their signal group and
they would drop losses. When I mean
losses, like losses after losses on
their group, but on social media, they
would post only blues, only blues.
You're probably facing that situation
right now. And then obviously because of
their cars, you know, it was it's it's a
it's a it's a um
How do I put it? Like it goes hand in
hand. You understand what I'm saying?
So, what you need to do, ladies and
gentlemen, is you need to stay off
social media for a bit. You need to
protect the kind of con- content that
you consume. You need to protect your
mental space. See, Forex trading is a
very, very solo journey. That's one
thing you need to understand. You need
to put social media in one place. If
not, I guarantee you, you see that
account that you keep blowing, you're
going to keep blowing it because of what
a lot of these traders on social media
don't tell you is the fact that they
don't show off their bad days. They
don't show off their losing days. They
only come up to show off their
Lamborghini. So, once again, ladies and
gentlemen, so I'm not saying stay off
social media forever. Reduce the amount
of Forex content you consume on social
media and watch your trading account
what take off to the roof. And guys,
that takes me to my fourth thing, which
is the absolute killer, signal groups,
signal groups. Throughout my entire
career, I've been preaching against
signal groups. Why? Because I was a
victim of signal groups. Now, let me
explain to you how signal groups work
and why they exist cuz a lot of people
come on my comment section and they keep
asking me, "Bro, signal signal group
signal group." You see, most of these
Forex mentors in quote create signal
groups. And what they do is because of
the affiliation they have with their
broker, for every time you within their
signal group trade, they get a
commission. Think about it. A signal
group of 50,000 of traders like
yourself, all trading through the
recommended broker on the signal group,
you know what I'm talking about. For
every time that popular trader who owns
the signal group drops a signal and all
of you trade, they make maybe $1,000 or
$2,000 per trade.
Depending on how big the signal group
is. That's absolutely crazy. Now, think
about it. Do you think the owner of the
signal group has your best interest at
heart? He doesn't care if you make money
or not provided that you keep trading.
So, that's your small account or those
your accounts whether small or whether
big that you've been trading for the
longest time and you find out that
you're not getting any result, you need
to leave that signal group because
signal groups do not provide the best
entry and exit that you require for your
trading. The only thing that is actually
going to predict what is going to happen
next in the to
learn how to do it yourself. And like I
told you guys, you need to get a
strategy that you trust and I obviously
told you guys about the Forex Mastery
and top-down analysis which you can gain
in the description down below.
Um
the signal groups are not going to help
you. Think about for all the signal
groups that you've been into. It doesn't
work.
Only the guys who own the signal groups
are the people that make money within
the within the signal group. The rest of
the I mean, you might have you argue
like, "Oh, but sometimes I make
winners." But at the end of the day,
where's the account? The account is
gone. It's gone for a reason because
signal groups are designed for Forex
traders to lose. It's just the way it
goes. I'm sorry to be the bearer of bad
news, but like I said today, guys, at
the end of this video, the essence is
for you to stop blowing your trading
account. I want a situation whereby when
you're done watching this video, you
would what? Not only would you be able
to break even on your trading account,
you start making profit. Not only would
you start making profit, you start
making withdrawable profit. You would
use your trading account to be able to
fund your lifestyle. You would use your
trading account to be able to what? To
make yourself proud, to be able to buy
that house, to buy that car. But I can
assure you, it's not going to work on
the signal group. Learn how to do this
yourself, so that it's not somebody
feeding you fish. Think about it.
Somebody's feeding you fish. The day he
doesn't feed you fish, sometimes he
can't feed you bad fish.
Which is not signal groups. I learn how
to do this yourself. And once again, the
only way to do that is top-down
analysis, and you can find it on Forex
Mastery Program down below. All right,
guys. At the end of the day, there's one
peculiar common narrative about
everything we've been discussing here.
First of all, you need to stop being
afraid of watching the market leave you.
You need a strategy that you can rely on
and you can trust. Because, and this is
exactly what really transformed my
trading. And this is to summarize
everything that we've discussed today.
At the end of the day, I know that if my
strategy, which is the top-down
analysis, tells me the market is in
trend, then that's relax. I relax.
I'm [snorts] not scared that, "Oh my
god,
the market is going to pass me by." No,
I trust in the strategy, right? This way
I don't have FOMO. This way I'm not
scared, is the market going to leave me?
You see that market leaving you, ladies
and gentlemen, I think that's one of the
biggest causes
Aside from signal groups, FOMO is one of
the biggest issues. And obviously, we
spoke about having a strategy that you
trust, which I've covered in depthly.
You're probably thinking, "Mhm, should I
not
get it?"
Get Forex Mastery Program. Get the
top-down analysis. Get something you can
trust, so that you can sleep very well
at night. You know fully well that this
Forex game I can conquer it. Like Forex
is going to feed me. It's It's a very
liberating feeling for one to have as a
Forex trader. And last but not the
least, second to the last actually, is
social media. Like I said to you guys,
reduce and limit the amount of time you
spend on social media. I know
fast cars and Forex are very
entertaining, but consume it with a
pinch of salt. Look at Oh, wow, that guy
has that has that blah blah blah, but
don't consume it too much. Cuz when you
consume it too much, you're going to
Cuz you
Think about it. On a bad day, you're
losing.
This guy is posting his Ferrari. What do
you think that's going to do to your
mental state? You're going to revenge
trade straight away. You're going to
take the like I Well, like what this guy
is doing and it's very depressing. What
they show you on social media in the
Forex space is not real life. So, ladies
and gentlemen,
we all know what signal groups do to
you. I don't need to go that I'm not
here to bash anybody's business, but I
can tell you for free if you're a member
of the signal group. I'm not going to
beg you to leave. Eventually, you will
leave. It's just the way the game goes.
So, once again, ladies and gentlemen, my
name is Tapiwa Lewis. Thank you for
staying to the very end of this video.
Like I said,
provided you can implement all the
things that I spoke about in this video,
I don't see any reason why you should
keep blowing your account. And now I've
given you guys a strategy you can trust,
you can use. You don't need to be in
signal groups. You can grow your account
calmly, stay away from social media, and
you have absolutely nothing to worry
about. Once again, guys, I'll catch you
later. Don't forget to smash the
subscribe button, grab the Forex Mastery
Program, take it easy, and peace out.
Bye, guys. Bye.