1 00:00:00,000 --> 00:00:03,200 This podcast is brought to you by the award-winning prop firm, Fidel Cret. 2 00:00:03,730 --> 00:00:06,720 So what I realized was I was using a standard on one lot. 3 00:00:06,720 --> 00:00:09,960 So I was making a hundred bucks during New York and a hundred bucks during 4 00:00:09,960 --> 00:00:14,200 agent, like, oh, I'm at $200 a day. That's great. Then I noticed, you know, 5 00:00:14,200 --> 00:00:18,040 as the weeks and the months went on, I was doing it rather consistently, 6 00:00:18,040 --> 00:00:20,200 and even on my losses, my losses were, 7 00:00:20,200 --> 00:00:24,000 were relatively small because I was only taking 5, 6, 7 pip losses. 8 00:00:24,000 --> 00:00:26,120 Sometimes I would let it hit the 10 pip loss, 9 00:00:26,260 --> 00:00:30,480 but for the most part I was taking relatively small losses. So I'm like, man, 10 00:00:30,480 --> 00:00:32,520 you know, I can do this consistently. 11 00:00:32,520 --> 00:00:36,360 What if I open up another position with that one position I already have opened, 12 00:00:36,480 --> 00:00:41,160 still catch the same move, just add another position trying to maximize on it. 13 00:00:41,250 --> 00:00:43,560 So then I tested it out. So I would have a one position, 14 00:00:43,560 --> 00:00:46,480 I'd have my main position open. Then I would open up a smaller one, 15 00:00:46,480 --> 00:00:48,120 like a point 50 or a point 30, 16 00:00:48,260 --> 00:00:51,360 and I would catch 10 pips on both of those positions. 17 00:00:51,360 --> 00:00:55,560 So I was doing like 130 bucks a day, or $150 a day. So once I saw that, 18 00:00:55,560 --> 00:00:58,760 I was consistently doing that. I did the same thing for agent session. 19 00:00:58,890 --> 00:01:03,640 So now my $100 days we're turning into $300 days because I was, 20 00:01:03,710 --> 00:01:06,320 I was adding positions catching the same 10 pips, 21 00:01:06,340 --> 00:01:09,840 but just adding an extra position. So once I saw that I could do that, 22 00:01:09,840 --> 00:01:14,200 and as I started raising my lot size where I would go to two lots, 2.5 lots, 23 00:01:14,200 --> 00:01:18,760 three lots. Then I went to 5, 6, 8, and 10, and I said, okay, 24 00:01:18,980 --> 00:01:23,800 now I can, instead of having a $300 day or $500 day, 25 00:01:23,800 --> 00:01:27,000 I can have a thousand dollars day because it's obvious people are making money 26 00:01:27,000 --> 00:01:29,080 doing it. I just need to figure out how. 27 00:01:29,210 --> 00:01:32,520 So it was actually through a friend of mine that I found out that you did not 28 00:01:32,520 --> 00:01:36,800 need IML to actually trade. And when I found that out, that friend of mine, 29 00:01:36,800 --> 00:01:38,600 who was actually friends with Qbank, 30 00:01:38,740 --> 00:01:42,680 who actually put me in touch with Wall Street Academy and said, Hey, 31 00:01:42,790 --> 00:01:46,280 this is the top guy in the industry. This is the person you wanna learn from, 32 00:01:46,380 --> 00:01:48,800 and that's all I needed to hear. I'm like, that's the top guy. 33 00:01:48,800 --> 00:01:51,680 That's where I'm going. I had my little aha moments here and there, 34 00:01:51,680 --> 00:01:54,880 but when everything clicked for me was when I discovered scalping. 35 00:01:54,880 --> 00:01:58,200 Because when I learned my first started learning how to trade and did not know 36 00:01:58,270 --> 00:02:01,360 what scalping was, I never heard of it. I thought when you were trading, 37 00:02:01,360 --> 00:02:04,240 you had to catch an entire move. Wait, 38 00:02:04,240 --> 00:02:07,000 in reality you can catch this much of a move and still make money. 39 00:02:07,180 --> 00:02:10,920 One day I messaged him and I said, Hey Raja, you know, I'm really struggling. 40 00:02:10,920 --> 00:02:14,200 I'm on the verge of giving up. I, I, I can't seem to understand this. 41 00:02:14,200 --> 00:02:16,920 I can't seem to get anywhere with it. I don't know what to do. 42 00:02:16,940 --> 00:02:20,240 And he messaged me back and said, Hey, let's do a one-on-one. And it, 43 00:02:20,240 --> 00:02:24,200 and it blew my mind cuz I'm like a one-on-one, like just you , 44 00:02:24,790 --> 00:02:28,120 like just us like nobody else. Like, he's like, yeah, like what? 45 00:02:28,120 --> 00:02:31,000 You're available now. Let's do it now. And I was like, oh my God. 46 00:02:31,000 --> 00:02:34,960 I started and I'm freaking out because I'm like, I did not expect that. 47 00:02:34,960 --> 00:02:36,360 I expected him to say, okay, it's okay. 48 00:02:36,360 --> 00:02:38,800 You just keep studying and keep your head up, you know, typical stuff. 49 00:02:38,860 --> 00:02:43,360 But he took a special interest in me actually getting 50 00:02:43,640 --> 00:02:45,360 the help that I needed. So I said, you know what? 51 00:02:45,360 --> 00:02:47,320 This guy knows what he's doing. He's teaching, 52 00:02:47,320 --> 00:02:49,160 he's taking the time out of his day to help me. 53 00:02:49,260 --> 00:02:53,400 The least I could do is just do what he says to do. And I did that. I did that. 54 00:02:53,400 --> 00:02:55,760 I sent him my charts every day, every day that I traded, 55 00:02:55,760 --> 00:02:58,760 every recession that I traded, I sent him my charts. He would give me feedback, 56 00:02:58,760 --> 00:03:01,520 he, he would help me with this and that. But when I got in my trades, 57 00:03:01,520 --> 00:03:05,360 I took 10 pips and I got out. I would close out at a certain, if I took a loss, 58 00:03:05,360 --> 00:03:08,440 it was a small loss. I was managing my losses the way he taught me to. 59 00:03:08,940 --> 00:03:11,920 And ever since then, I've been profitable ever since. 60 00:03:11,970 --> 00:03:13,960 Episode 214 folks, 61 00:03:13,960 --> 00:03:17,320 we got Charlene f x here up on the show that's coming up in a second. Now, 62 00:03:17,320 --> 00:03:18,360 before we jump in there, 63 00:03:18,360 --> 00:03:22,360 just wanna remind you of the Fidel Crest 50 K challenge. That's up for grabs. 64 00:03:22,360 --> 00:03:23,840 In fact, there's five of them up for grabs. 65 00:03:23,840 --> 00:03:26,640 There's a link in the YouTube description or the podcast description. 66 00:03:26,770 --> 00:03:28,680 Go on there, have a look how it works. 67 00:03:28,680 --> 00:03:30,800 I've got a little video there for you to watch. Uh, 68 00:03:30,800 --> 00:03:33,720 I'd love to see a few more of you entering that so that we can get this 69 00:03:33,720 --> 00:03:36,760 underway. It's gotta be awesome. Now the other thing going on here, 70 00:03:36,760 --> 00:03:40,960 we've got the Robot Builders Club where I teach you how to automate virtually 71 00:03:41,160 --> 00:03:42,040 anything you can dream up. 72 00:03:42,040 --> 00:03:46,640 We use a software called FX Dreamer and we've got some amazing things happening 73 00:03:46,640 --> 00:03:46,960 over there. 74 00:03:46,960 --> 00:03:50,880 So this February we have the boot camp that you can get access to along with the 75 00:03:50,880 --> 00:03:52,680 build that we did for the boot camp. 76 00:03:52,740 --> 00:03:56,200 And we're also building out the something in the Robot Lab live, 77 00:03:56,200 --> 00:03:59,520 which is a live build. You can jump on and get access to that. 78 00:03:59,520 --> 00:04:01,760 And it's based on Smart Money Concepts. Folks, 79 00:04:01,860 --> 00:04:03,400 I'd love to see you on board there. 80 00:04:03,400 --> 00:04:06,960 Links below the video and in podcast description. Last but not least, 81 00:04:06,960 --> 00:04:08,760 let's hear from my sponsor and get on with the show. 82 00:04:08,760 --> 00:04:11,840 Fidel Crest is an award-winning pro firm that funds traders with up to 83 00:04:11,840 --> 00:04:14,920 $2 million and offers generous profit splits up to 90%. 84 00:04:14,920 --> 00:04:18,680 So one thing that really sets Fidel Crest apart is their no minimum trading days 85 00:04:18,680 --> 00:04:22,200 requirement on their challenge and verification stages. On top of that, 86 00:04:22,200 --> 00:04:25,320 traders who successfully passed the challenge and verification stages are 87 00:04:25,600 --> 00:04:29,560 eligible to receive a bonus payout of up to 30 K on top of their funded stage 88 00:04:29,560 --> 00:04:33,520 profit split payout on performance. And be sure to use promo code trading that, 89 00:04:33,530 --> 00:04:36,480 or one word to get 10% off your next challenge. 90 00:04:36,480 --> 00:04:39,840 Click the link in the description below or the card above to find out more. 91 00:04:39,840 --> 00:04:41,240 Alright folks, here we are on Trading Up. 92 00:04:41,240 --> 00:04:44,920 We've got Charlene FX in the house all the way over there in Miami, Florida. 93 00:04:45,370 --> 00:04:48,480 Ex uh, police officer, uh, 94 00:04:48,480 --> 00:04:50,480 been trading for five years in the four X market. 95 00:04:50,480 --> 00:04:53,080 So we are gonna hear her story today. Welcome to the show Charlene. 96 00:04:53,280 --> 00:04:55,440 Thank you for having me. I appreciate it. . 97 00:04:55,700 --> 00:04:59,240 Hey, look. Um, to start off with, I mean, how on earth did you get into trading? 98 00:05:00,410 --> 00:05:04,640 Oh man. So I think, I think my journey is similar to a lot of people's journey. 99 00:05:04,640 --> 00:05:09,240 Like Im l , right? IML exposed, I gotta give, 100 00:05:09,240 --> 00:05:13,200 give it to 'em. Their marketing is excellent because if anything, um, 101 00:05:13,200 --> 00:05:17,400 I I have to thank them because they are the ones who exposed me to what four X 102 00:05:17,400 --> 00:05:21,360 is. And you know, I pretty much took it, took it from there. But yeah, 103 00:05:21,360 --> 00:05:25,480 I got it started with, uh, I M L in 20, actually 2017. 104 00:05:25,580 --> 00:05:29,880 But I didn't actually take it seriously until 2018 when I was approached with 105 00:05:29,880 --> 00:05:31,640 it, uh, again by, uh, 106 00:05:31,640 --> 00:05:34,760 two different friends of mine who happened to know each other and they were both 107 00:05:34,760 --> 00:05:37,080 trading. Um, and I ended up getting into it, 108 00:05:37,080 --> 00:05:39,600 but I was only with I M L for like about four months, 109 00:05:39,600 --> 00:05:43,320 four or five months because I kind of realized that I wasn't really learning 110 00:05:43,350 --> 00:05:45,320 much from them. They were more about, you know, 111 00:05:45,590 --> 00:05:49,840 recruiting and signing people up. And I just wanted to learn how to trade, 112 00:05:49,840 --> 00:05:54,120 wanted to learn how to read a chart and be able to make money from it. You know, 113 00:05:54,120 --> 00:05:56,320 I didn't wanna take signals, I didn't want to copy and paste. 114 00:05:56,320 --> 00:05:58,880 I didn't wanna do any, any of that. So, um, so yeah, 115 00:05:58,880 --> 00:06:03,000 I got started in 2018 in May, I'm sorry, March of 2018. 116 00:06:03,500 --> 00:06:08,280 And, um, I've been trading now, uh, ever since. And now I'm profitable. And, um, 117 00:06:08,630 --> 00:06:10,360 it's been a great journey. It's been a great journey. 118 00:06:10,740 --> 00:06:12,160 And so, so I mean, it's funny, 119 00:06:12,160 --> 00:06:15,440 like quite a few of the guests say that they started off with I M L. Uh, 120 00:06:15,440 --> 00:06:18,800 how did, how did that progress from there in terms of, you know, you had a, 121 00:06:18,800 --> 00:06:21,320 I suppose a unique angle of, I just wanna learn it. 122 00:06:21,320 --> 00:06:25,520 I don't necessarily wanna take any any sort of quick and easy way. I mean, 123 00:06:25,520 --> 00:06:28,720 what was the, the journey from there to get to the point where you are now? 124 00:06:29,510 --> 00:06:31,720 What it was is I was losing a lot of money. 125 00:06:31,990 --> 00:06:33,680 I was losing money and I didn't know why. 126 00:06:33,950 --> 00:06:37,520 I did not know why because they were just giving signals. They were telling you, 127 00:06:37,630 --> 00:06:42,400 sign up for this app, sign up for that app. Um, you know, I barely knew how to, 128 00:06:42,400 --> 00:06:43,360 even when the signal came, 129 00:06:43,360 --> 00:06:47,520 I barely knew how to even put it into me because that's how much they don't 130 00:06:47,520 --> 00:06:50,440 teach. You know, they just sign you up until you go get people , 131 00:06:50,460 --> 00:06:54,440 you know? Right. Money, we'll send you a signal. What's a signal ? 132 00:06:54,440 --> 00:06:57,360 You know, you don't even know what it is, right? So, um, 133 00:06:57,740 --> 00:07:01,000 but so when I realized every month I was paying, cuz I hadn't recruited anybody, 134 00:07:01,000 --> 00:07:04,200 I never recruited a single person and the entire time I was in it, 135 00:07:04,300 --> 00:07:06,640 and it was because I wasn't making money, 136 00:07:06,850 --> 00:07:09,440 so I didn't wanna recruit people into something that I was doing, 137 00:07:09,820 --> 00:07:12,120 and I didn't even have results doing it. 138 00:07:12,120 --> 00:07:16,400 So I didn't feel comfortable sharing the idea with someone without actually 139 00:07:16,400 --> 00:07:19,080 having something that tangible to show them and say, Hey, 140 00:07:19,080 --> 00:07:21,440 this is why you should sign up with them, you know? 141 00:07:21,650 --> 00:07:24,760 So when I realized I was losing money hand or fist, 142 00:07:24,760 --> 00:07:29,520 I had loaded my live account with $500 and that's how I knew it was nonsense 143 00:07:29,520 --> 00:07:31,240 because I didn't even start with demo. 144 00:07:31,240 --> 00:07:34,240 They started you right off with live and they were like, Hey, get, 145 00:07:34,240 --> 00:07:35,073 get your live account, 146 00:07:35,340 --> 00:07:39,160 put money in there and then you'll start making money today. And I'm like, 147 00:07:39,310 --> 00:07:41,880 when you hear that, you don't know any better. So you're like, okay, 148 00:07:41,880 --> 00:07:44,120 is everybody else around you making money? So you're like, all right, 149 00:07:44,380 --> 00:07:47,560 not realizing it's all demo , you know, it wasn't real. 150 00:07:47,830 --> 00:07:52,160 I didn't know what demo was. I thought it was real. So, um, so I went ahead, 151 00:07:52,160 --> 00:07:54,840 I put, I put 500 bucks in my account at the time, and at the time, 152 00:07:54,840 --> 00:07:57,960 that was a lot of money to me. That was a lot of money to me. So I put a lot, 153 00:07:57,960 --> 00:07:59,000 uh, 500 in there. 154 00:07:59,000 --> 00:08:02,240 I signed up with I M l I think I paid like 300 something bucks to sign up 155 00:08:02,400 --> 00:08:02,820 altogether. 156 00:08:02,820 --> 00:08:06,720 And every month they were taking like 200 something bucks outta my account. And, 157 00:08:06,720 --> 00:08:08,520 and then, and then I blew the, uh, 158 00:08:08,520 --> 00:08:11,120 the $500 account they were sending like at the month. 159 00:08:11,120 --> 00:08:15,440 I remember the first trade signal that I took that was sent to my phone was a US 160 00:08:15,440 --> 00:08:19,840 30 trade, and it was, uh, during London session that they sent the trade, 161 00:08:19,840 --> 00:08:24,120 which is odd now, but they sent it during London session. And, um, 162 00:08:24,120 --> 00:08:27,080 I remember being in profit, I was up like a hundred bucks on the trade, 163 00:08:27,080 --> 00:08:29,720 I was like, oh wow. And I really am making money with it, 164 00:08:29,740 --> 00:08:33,440 but I didn't know how to close, I didn't know nothing. So I just left it there. 165 00:08:33,580 --> 00:08:36,400 And when I came back to my account, I was negative, like 300 bucks. 166 00:08:36,890 --> 00:08:41,440 So the trade had to retrace and, and I got kicked outta the trade. So, um. 167 00:08:41,690 --> 00:08:44,840 So yeah. And it was, and it sounds like it was a, a high risk trade if, 168 00:08:44,890 --> 00:08:47,080 if you were risking more than half, half your account. 169 00:08:47,080 --> 00:08:51,120 Exactly. Yeah. Yeah, exactly. No idea what the lot size is, nothing. 170 00:08:51,210 --> 00:08:54,520 So when I realized I just kept losing money and I wasn't making money, 171 00:08:54,520 --> 00:08:57,480 every time time I went to the meeting, every time I would talk to my, 172 00:08:57,480 --> 00:09:00,680 the person that signed me up, it was always, okay, come do this, come do that. 173 00:09:00,900 --> 00:09:04,280 You know, it was never like, Hey, sit down and let's go over charts. 174 00:09:04,300 --> 00:09:07,720 Let me show you what support and resistance is. Let me show you how to do this. 175 00:09:08,130 --> 00:09:11,800 It was just, um, just a lot of salesy stuff and I just wasn't interested. 176 00:09:11,800 --> 00:09:15,440 So after I had lost a good amount of money, I was like, I'm out , 177 00:09:15,440 --> 00:09:16,273 I'm outta there. 178 00:09:16,520 --> 00:09:19,000 . After the show, I realized there was a question I forgot to ask, 179 00:09:19,210 --> 00:09:21,640 so I'm gonna ask it now and love it into the show here. 180 00:09:21,640 --> 00:09:26,080 So what I was intrigued on finding out was like how you went from that $500 181 00:09:26,080 --> 00:09:29,960 account to being able to trade like these much larger sizes on a larger, 182 00:09:30,110 --> 00:09:33,640 larger account size. Um, what, what was the, 183 00:09:33,780 --> 00:09:35,320 how did I earth did that happen? 184 00:09:35,950 --> 00:09:37,840 Okay, so, uh, 185 00:09:37,840 --> 00:09:41,080 I used to be a police officer and I was a cop for about six years, 186 00:09:41,460 --> 00:09:46,000 and I'm a cop in Miami, downtown Miami, which is a huge, huge tourist area. 187 00:09:46,460 --> 00:09:49,720 And downtown Miami is big on events. 188 00:09:49,720 --> 00:09:52,600 There is literally always events going on when Covid hit, 189 00:09:52,730 --> 00:09:55,800 it literally like shook the entire, uh, 190 00:09:55,800 --> 00:09:59,720 city because there was always something going on. So as a police officer, 191 00:09:59,720 --> 00:10:01,240 there is tons and tons of, 192 00:10:01,240 --> 00:10:04,360 and tons of what's called off-duty jobs and off-duty jobs. 193 00:10:04,360 --> 00:10:07,560 There are like kind of overtime jobs where you're working, um, 194 00:10:07,570 --> 00:10:12,520 as security basically for concerts, um, restaurant openings, um, 195 00:10:12,740 --> 00:10:17,240 art basil events, um, sports games, you know, you have the Marlins, 196 00:10:17,240 --> 00:10:18,840 you have the Miami Heat, you have the Dolphins, 197 00:10:19,010 --> 00:10:22,120 so there's always something going on in Miami. So those jobs, 198 00:10:22,350 --> 00:10:26,720 they are in abundance and those jobs don't pay no less than three, 199 00:10:26,720 --> 00:10:31,360 $400 per job. And they're paying you, um, 50, 60, 70, 200 00:10:31,360 --> 00:10:34,720 sometimes a hundred dollars an hour minimum for three hours. 201 00:10:34,720 --> 00:10:38,080 So you're at minimum I'm gonna get paid three hours. Even if you work an hour, 202 00:10:38,080 --> 00:10:39,800 you're gonna get paid for the whole three hours. 203 00:10:40,170 --> 00:10:43,920 So I had my regular income from my regular, um, 204 00:10:43,920 --> 00:10:47,920 40 hour a week paycheck, and then I would work overtime, 205 00:10:47,920 --> 00:10:52,600 which is off-duty jobs. So I was pulling in sometimes two, 3000 a week, 206 00:10:52,600 --> 00:10:54,920 sometimes in those off-duty checks. 207 00:10:55,050 --> 00:10:59,000 So that's how I was actually able to fund my account. I was just working, 208 00:10:59,000 --> 00:11:02,520 working, working as much overtime as I could, which was a, 209 00:11:02,520 --> 00:11:06,880 a good and a bad thing because it was good because I had the funds to be able to 210 00:11:06,880 --> 00:11:07,440 fund my account, 211 00:11:07,440 --> 00:11:12,360 but it was bad because the money came so quickly and so easily at times that 212 00:11:12,360 --> 00:11:16,080 it caused me to over-leverage and to try to be greedy with it because I had 213 00:11:16,080 --> 00:11:20,760 2, 3, 4, 5, sometimes $10,000 in my account and I could just go crazy with it, 214 00:11:20,760 --> 00:11:22,600 not really understanding what I was doing trading. 215 00:11:22,730 --> 00:11:24,960 So once I got tired of losing as much as I did, 216 00:11:24,960 --> 00:11:28,280 cuz I had lost well over $60,000 in my first year, 217 00:11:28,710 --> 00:11:32,120 I kind of got tired of it and I also got burnt out from working so much as well. 218 00:11:32,170 --> 00:11:34,280 So I kind of had to slow down. So then I said, okay, 219 00:11:34,280 --> 00:11:35,520 I'm gonna slow down just a little bit, 220 00:11:35,630 --> 00:11:39,240 take the money that I I make and I'm going to just fund my account with it and 221 00:11:39,240 --> 00:11:40,760 just grow that account as much as I could. 222 00:11:40,940 --> 00:11:43,400 But I was still gonna practice really good risk management. 223 00:11:43,410 --> 00:11:46,160 So there was a time where I had 20, 30,000 in my account, 224 00:11:46,160 --> 00:11:50,360 but I was still using one lots and two lots just trying to slowly build up my 225 00:11:50,360 --> 00:11:53,920 confidence, slowly build up my skill, and later on I could, you know, 226 00:11:53,920 --> 00:11:55,920 grow my lot sizes as I wanted to, 227 00:11:56,180 --> 00:12:00,160 but I still had the funds available for me to continue growing my account. 228 00:12:00,210 --> 00:12:04,440 So that's actually how I was able to actually grow my account very quickly and 229 00:12:04,440 --> 00:12:07,720 be able to have a larger trading account to be able to take higher risk. 230 00:12:07,810 --> 00:12:11,520 Awesome. Well look, uh, we'll skip back on to the rest of the interview. Uh, 231 00:12:11,520 --> 00:12:14,240 hopefully you guys got a bit more insight in there. Okay. So, 232 00:12:14,240 --> 00:12:16,960 so where did you get to after that? Like, so you, you, 233 00:12:17,140 --> 00:12:18,480 you didn't know how to do anything. 234 00:12:18,480 --> 00:12:21,440 It's funny when you think back to the beginning and people probably listening to 235 00:12:21,440 --> 00:12:22,880 this, this show are gonna be like, 236 00:12:23,350 --> 00:12:26,800 some of these episodes are gonna go way over their head. So it's quite a good, 237 00:12:26,800 --> 00:12:29,800 good thing for the newbies to listen to this so they can go, okay, 238 00:12:29,800 --> 00:12:33,520 well I didn't know what a signal was either. Um, yeah, . So how did you, 239 00:12:33,520 --> 00:12:35,880 how did you, how on earth did you sort of get yourself, 240 00:12:35,880 --> 00:12:39,320 what were the educational steps you took the path, that path of education? 241 00:12:40,030 --> 00:12:44,120 Okay, so I, um, I was under the impression, 242 00:12:44,120 --> 00:12:48,160 and this is something else that I m l does, is they, uh, 243 00:12:48,180 --> 00:12:51,000 put you under the impression that you need them to trade. 244 00:12:51,350 --> 00:12:54,960 Like you need them to actually have access to the markets. 245 00:12:55,620 --> 00:12:57,720 And I had no idea that you didn't, 246 00:12:57,830 --> 00:13:01,800 I thought you had to be with the company to have access to Medi Trader to, 247 00:13:01,800 --> 00:13:04,280 you know, put money in your account and trade and whatnot. 248 00:13:04,490 --> 00:13:07,320 So when I found out that you did not need them, 249 00:13:07,320 --> 00:13:10,560 which I found out through another friend of mine, I was like, what? 250 00:13:10,940 --> 00:13:14,560 And they're like, no, I you can, you don't need them. You can trade by yourself, 251 00:13:14,560 --> 00:13:16,720 you know, and I was, my mind was just, 252 00:13:16,720 --> 00:13:20,280 that information alone blew my mind because it just went on to tell me how much 253 00:13:20,280 --> 00:13:22,160 I didn't know. So the fact that I saw that, 254 00:13:22,430 --> 00:13:26,000 that little bit of information that was now insignificant, 255 00:13:26,000 --> 00:13:28,640 but back then it was huge to me. I said, 256 00:13:28,640 --> 00:13:32,080 maybe I should do a little more research in this and see maybe there's other 257 00:13:32,080 --> 00:13:36,400 things that I wasn't aware of as well that I need to learn to see because it's 258 00:13:36,400 --> 00:13:40,400 obvious people are making money doing it. I just need to figure out how. 259 00:13:41,010 --> 00:13:43,160 So it was actually through a friend of mine, um, 260 00:13:43,160 --> 00:13:47,840 that I found out that you did not need IML to actually, uh, trade. 261 00:13:47,940 --> 00:13:50,040 And when I found that out, um, it was that, 262 00:13:50,040 --> 00:13:52,760 that friend of mine who was actually friends with Qbank, 263 00:13:52,900 --> 00:13:56,800 who actually put me in touch with Wall Street Academy and said, Hey, 264 00:13:56,910 --> 00:14:00,400 this is the top guy in the industry. This is the person you wanna learn from, 265 00:14:00,500 --> 00:14:02,920 and that's all I needed to hear. I'm like, that's the top guy. 266 00:14:02,920 --> 00:14:04,160 That's where I'm going. You know, 267 00:14:04,160 --> 00:14:07,080 it's like learning how to play basketball and someone says, Hey, 268 00:14:07,080 --> 00:14:09,280 this is Michael Jordan's chorus, this is the top guy. 269 00:14:09,390 --> 00:14:12,880 That's who I need to learn from . You know what I mean? So, uh, 270 00:14:12,880 --> 00:14:17,840 and after that, um, I, he course was the first course I ever bought and it's, 271 00:14:17,840 --> 00:14:21,880 it was game over from there at that point. I, I dove in and I never looked back. 272 00:14:22,260 --> 00:14:22,920 And so you, 273 00:14:22,920 --> 00:14:27,040 I suppose that's quite lucky that you had a friend that was friends with Qbank. 274 00:14:27,070 --> 00:14:30,200 Yeah. Um, who's been on the show for a few folks haven't, haven't, uh, 275 00:14:30,200 --> 00:14:32,560 seen his episode. Uh, and um, 276 00:14:32,560 --> 00:14:35,880 because are you living quite close in that area or something? 277 00:14:35,880 --> 00:14:37,040 Or is it just Yeah. 278 00:14:37,930 --> 00:14:42,440 Uh, I have no idea. I, I feel like it was, it was, uh, almost like, uh, 279 00:14:42,440 --> 00:14:44,800 I don't know, a divine intervention or serendipity. 280 00:14:44,800 --> 00:14:48,840 I don't know what they call it, but, uh, I, i I, I don't know, 281 00:14:48,840 --> 00:14:52,120 I can't even say it's this. I, I think it was meant, meant to be. I'm a big, 282 00:14:52,120 --> 00:14:55,560 big believer in the law of attraction and, you know, the universe, you know, 283 00:14:55,560 --> 00:14:59,160 bringing you the things you're supposed to have in your life. Yeah. So, uh, it, 284 00:14:59,160 --> 00:15:02,680 it just so happens, you know, I, I knew him and he knew q and he is, 285 00:15:02,700 --> 00:15:05,320 and he was a traitor. Q was a traitor. And then she like, 286 00:15:05,320 --> 00:15:08,400 you wanna learn how to trade? Okay, this is who you need to go to. Yeah. So it, 287 00:15:08,450 --> 00:15:11,480 it just so happens, and this friend of mine, um, I had, 288 00:15:11,480 --> 00:15:14,840 I didn't even know him that well. We were like friends, but not friend friends. 289 00:15:14,840 --> 00:15:16,600 Like, we didn't talk every day. We didn't hang out every day. 290 00:15:16,610 --> 00:15:19,080 We were kind of more Instagram friends if, if anything, 291 00:15:19,380 --> 00:15:22,520 and he was actually posting profits one day on his Instagram. 292 00:15:22,660 --> 00:15:24,160 And when I saw him post profits, 293 00:15:24,160 --> 00:15:26,280 which is the same stuff you would see through IML people, 294 00:15:26,710 --> 00:15:30,240 I messaged him immediately and I'm like, Hey, what are you doing? You know, 295 00:15:30,240 --> 00:15:32,960 get away from that company. They're a scam. They're gonna take your money. 296 00:15:32,960 --> 00:15:36,000 It's not real, you know? And he messes me back and he's like, 297 00:15:36,000 --> 00:15:39,320 what are you talking about? Like, , like, what do you mean ? 298 00:15:39,340 --> 00:15:42,000 And I said, I said, no, no, you're a part of that company, right, 299 00:15:42,000 --> 00:15:46,560 that IML company. He's like, no. And I said, what do you mean? He's like, no, 300 00:15:46,560 --> 00:15:49,040 this is me. I'm, these are my, I'm, I'm this by myself. 301 00:15:49,040 --> 00:15:51,600 I'm not with that company. And I'm like, what? 302 00:15:51,940 --> 00:15:56,360 And literally the next day I, I, I, we call, I called him, I said, 303 00:15:56,360 --> 00:15:59,640 I gotta meet you. We gotta talk. And I met up with him and after that, 304 00:15:59,750 --> 00:16:03,360 that was it. That was it. And I said, oh, no, I, I gotta. 305 00:16:03,630 --> 00:16:06,840 It's hilarious. That's hilarious. Oh, 306 00:16:06,840 --> 00:16:10,480 I find it funny because you were so, oh, like, I mean, 307 00:16:10,480 --> 00:16:15,120 I suppose blinkered to the fact that the whole markets are not just iml. 308 00:16:15,120 --> 00:16:17,080 You've got, you know, anyone could try, you know, 309 00:16:17,080 --> 00:16:20,440 there's millions or thousands and thousands of brokers out there . Um, 310 00:16:20,440 --> 00:16:24,680 that's just, that's hilarious. Uh, so, so, okay. So you, 311 00:16:24,680 --> 00:16:28,640 you learn from q uh, have you taken that stuff and, and, uh, 312 00:16:28,770 --> 00:16:31,320 evolved it to, to suit your style? 313 00:16:31,650 --> 00:16:36,040 Or d just literally I'm just copy and pasting exactly what I learned and 314 00:16:36,040 --> 00:16:36,873 replicating it? 315 00:16:37,330 --> 00:16:39,880 No, no. Um, cuz here's the thing about trading. 316 00:16:39,950 --> 00:16:43,160 I think you can learn trading from, you know, certain people, 317 00:16:43,420 --> 00:16:45,320 but you're always gonna add your own little twist. 318 00:16:45,320 --> 00:16:48,480 You're always gonna add your own little touch to it to where it's understandable 319 00:16:48,480 --> 00:16:50,080 for you. So, uh, 320 00:16:50,080 --> 00:16:54,480 I don't trade exactly like what I was taught in Wall Street Academy because 321 00:16:54,950 --> 00:16:58,400 I did buy other courses as well, because I'm a big believer in like, 322 00:16:58,400 --> 00:17:01,000 diversifying, right? You don't wanna put all your eggs in one basket. 323 00:17:01,140 --> 00:17:04,200 You never know who, who's gonna teach you. You know, 324 00:17:04,200 --> 00:17:08,240 that one thing that makes everything click for you. So I did buy, uh, uh, 325 00:17:08,240 --> 00:17:10,640 a numerous courses along the way. Uh, 326 00:17:10,640 --> 00:17:13,400 wall Street Academy was just the first course that I, I bought. 327 00:17:13,550 --> 00:17:17,720 I studied that for right around nine or 10 months before I actually looked into 328 00:17:17,720 --> 00:17:20,720 other courses. Um, but I would say, uh, 329 00:17:20,720 --> 00:17:24,280 that course and one other course were the only ones that like, really, 330 00:17:24,280 --> 00:17:26,680 really did it for me. And then I kind of took, 331 00:17:26,680 --> 00:17:29,560 took the material that I learned from, you know, a little bit from everybody. 332 00:17:29,740 --> 00:17:33,360 But the most stuff that I learned from the more important information that I got 333 00:17:33,360 --> 00:17:37,600 from those courses, I was able to kind of put it in my own, my own strategy. 334 00:17:37,600 --> 00:17:39,480 You, you should, can't say, I don't really like say strategy, 335 00:17:39,480 --> 00:17:43,320 but I put it in my own way and to a way that would make sense for me. 336 00:17:43,620 --> 00:17:48,600 And I kind of took all the complexities out of trading cuz trading can be 337 00:17:49,150 --> 00:17:53,840 a very, um, what's the word I'm looking for? Convoluted, 338 00:17:54,490 --> 00:17:57,040 uh, subject . Cause there's so many different angles, 339 00:17:57,040 --> 00:18:00,760 so many different variables, so many different ways you can look at things. Um, 340 00:18:00,760 --> 00:18:04,960 and I like to keep things as simplistic as possible. So I decided to, okay, 341 00:18:05,070 --> 00:18:07,920 this is what I'm being taught here. This is what I'm being taught here. 342 00:18:07,980 --> 00:18:12,360 How can I take these two things and simplify them to something that makes 343 00:18:12,920 --> 00:18:16,760 complete sense for me and makes the the road a little bit more smoother to 344 00:18:16,760 --> 00:18:21,640 navigating how to execute on a high probability trade. So that's when I decided, 345 00:18:21,640 --> 00:18:24,080 that's when I decided to take all the information that I learned, 346 00:18:24,230 --> 00:18:27,440 take as much fluff out of it as possible, 347 00:18:27,440 --> 00:18:32,040 bring it down to the bare bones, and then I created my own platform with my own, 348 00:18:32,050 --> 00:18:36,400 um, course or strategy you can say. And here we are today, you know, 349 00:18:36,400 --> 00:18:37,760 where it's simple. 350 00:18:37,760 --> 00:18:42,360 And my course is called Simple FX because I keep it as simple as 351 00:18:42,760 --> 00:18:47,560 possible as I possibly can to where I should have named it four X for Dummies, 352 00:18:47,880 --> 00:18:47,960 . 353 00:18:47,960 --> 00:18:48,720 Right? Yeah. 354 00:18:48,720 --> 00:18:52,440 Yeah. That's how simple and bare bones it is, you know, 355 00:18:52,440 --> 00:18:57,320 to where a 10 year old can learn how to trade, um, from my strategy. So, um, 356 00:18:57,320 --> 00:18:58,040 so yeah, I, 357 00:18:58,040 --> 00:19:02,880 I I feel like you have to kind of get out there and expose yourself to as much 358 00:19:02,880 --> 00:19:05,040 knowledge from as many things as you can, 359 00:19:05,040 --> 00:19:07,800 because that's the only way you're gonna know what works for you and what 360 00:19:07,800 --> 00:19:08,300 doesn't. 361 00:19:08,300 --> 00:19:09,520 And so how did you, 362 00:19:09,520 --> 00:19:13,720 I'm interested to hear how you sort of validated what you came up with. I mean, 363 00:19:13,720 --> 00:19:18,040 you know, hearing from other people is great and then, then applying, it's okay. 364 00:19:18,040 --> 00:19:21,720 But I suppose getting the confidence that it's gonna work needs mm-hmm. 365 00:19:21,760 --> 00:19:23,640 some kind of back testing, et cetera. 366 00:19:23,980 --> 00:19:27,160 And also trying to fit it within your lifestyle as, you know, 367 00:19:27,160 --> 00:19:30,600 being a police officer and having mm-hmm. shift work, probably, 368 00:19:30,600 --> 00:19:32,320 you know, sometimes in the evening, sometimes days. 369 00:19:32,380 --> 00:19:36,880 How did that all play out for you to, you know, squeeze it in there? Um. 370 00:19:37,130 --> 00:19:41,280 It wasn't as hard for me, um, because I, you know, I didn't have any kids. 371 00:19:41,280 --> 00:19:43,920 I was still very young at the time. I mean, I'm still young, 372 00:19:43,920 --> 00:19:45,320 but I was younger back then, 373 00:19:45,450 --> 00:19:48,200 so I had a lot of energy and I could stay up all night and study. 374 00:19:48,470 --> 00:19:50,360 I could wake up early in the morning and study, 375 00:19:50,360 --> 00:19:54,040 and my job wasn't as demanding as people think. I had a set schedule, 376 00:19:54,230 --> 00:19:57,160 I had a lot of control over my schedule as well. Uh, 377 00:19:57,160 --> 00:20:00,320 and I had a lot of flexibility in my schedule also. So where, you know, 378 00:20:00,320 --> 00:20:04,520 when I wanted to trade London session, I would just, uh, work the, um, 379 00:20:04,520 --> 00:20:08,440 afternoons and then I would get up early in the morning and trade London session 380 00:20:08,440 --> 00:20:10,880 and then I would, I wouldn't have to go to work till that afternoon. 381 00:20:10,930 --> 00:20:12,120 So in the first, 382 00:20:12,150 --> 00:20:16,720 I would say half hour of the day from like nine to about 11, 12, 383 00:20:16,830 --> 00:20:18,560 I could sleep and then I wouldn't, 384 00:20:18,560 --> 00:20:21,520 I would get up around one 30 and get ready to go to work and be at work by two. 385 00:20:22,090 --> 00:20:24,600 So, um, and then when I wanted to train New York session, 386 00:20:24,600 --> 00:20:27,400 that's when I would work, um, the nights. So I would work afternoons. 387 00:20:27,450 --> 00:20:31,920 So I had a lot of flexibility in my schedule, so it wasn't hard for me. Um, 388 00:20:31,920 --> 00:20:33,680 and on top of that, um, 389 00:20:33,910 --> 00:20:38,750 I pretty much based trading around my job and every free 390 00:20:38,750 --> 00:20:43,510 ounce of time that I had, I dedicated to learning how to trade. 391 00:20:43,510 --> 00:20:47,030 I was always on the chart, even while I was at work. Uh, as a police officer, 392 00:20:47,200 --> 00:20:49,840 you have a lot of downtime. Most of the time when it's busy, it's busy, 393 00:20:49,840 --> 00:20:54,120 but when it's not busy, it's boring. It is boring. So, uh, 394 00:20:54,120 --> 00:20:57,760 when I used to work the night shift, um, I studied a lot during, 395 00:20:57,760 --> 00:20:59,400 during night because you have to be awake. 396 00:20:59,400 --> 00:21:01,240 You can't really be sleeping because you have to, you know, 397 00:21:01,240 --> 00:21:03,600 be aware of what's going on around you and things like that. 398 00:21:03,900 --> 00:21:07,280 You never know when something's gonna happen. So you kind of have to be alert. 399 00:21:07,450 --> 00:21:10,280 So to keep myself up at night, I was, I was studying, 400 00:21:10,280 --> 00:21:13,840 I was either studying a course, I was on YouTube, I was, um, 401 00:21:13,840 --> 00:21:18,560 back testing charts. I was, um, paper trading at times. Uh, 402 00:21:18,560 --> 00:21:21,880 so any ounce of time that I had, I wanted to, um, 403 00:21:21,880 --> 00:21:25,720 dedicated to trading because not only did I really wanna learn trading, 404 00:21:25,980 --> 00:21:28,520 but I saw it as a way to get out of my job. 405 00:21:28,520 --> 00:21:31,960 Because at the time I was really struggling with what I was doing at my job. 406 00:21:31,960 --> 00:21:34,600 I was struggling with the people I was working with. It was a, 407 00:21:34,600 --> 00:21:36,800 a very high stress environment. Mm-hmm. . 408 00:21:36,800 --> 00:21:40,760 And I didn't see myself being there for a very long time. 409 00:21:41,020 --> 00:21:45,960 And I needed a plan B, I had needed a plan B. So I said, okay, uh, you know, 410 00:21:45,960 --> 00:21:49,480 I don't have a college degree. I don't really have anything to fall back on. 411 00:21:49,630 --> 00:21:54,040 This has to be it. This something has to be it. And this was, it wasn't easy. 412 00:21:54,310 --> 00:21:56,720 I wouldn't, I don't like to use the word easy when I talk about trading, 413 00:21:57,060 --> 00:22:00,160 but at the time it was one of the easiest things. 414 00:22:00,160 --> 00:22:03,520 It wasn't like I had to take a bunch of money and go start a restaurant or 415 00:22:03,520 --> 00:22:05,240 something, you know, something like that. Uh, 416 00:22:05,240 --> 00:22:09,920 it was just me studying and putting in the time and I had an ample amount of 417 00:22:09,920 --> 00:22:11,360 time. So, um, 418 00:22:11,550 --> 00:22:15,440 I really credit having that job because it gave me the motivation that I needed 419 00:22:15,440 --> 00:22:20,240 to stick with it and to not quit because it wasn't easy at all. It was not easy, 420 00:22:20,730 --> 00:22:21,800 um, at all. But. 421 00:22:21,850 --> 00:22:23,400 Um, and when, when you were doing your, 422 00:22:23,400 --> 00:22:26,240 like say for example your back testing and paper trading, I mean were, 423 00:22:26,500 --> 00:22:28,360 was there something in there that like, 424 00:22:28,360 --> 00:22:32,680 was an aha moment for you where you thought, ah, man, this is, this is, 425 00:22:32,680 --> 00:22:33,720 this is the one. 426 00:22:34,100 --> 00:22:38,200 And did you have to go through various iterations to find what you do now? 427 00:22:39,010 --> 00:22:42,910 Yes. Um, I had to go through various different, different strategies. Um, 428 00:22:42,910 --> 00:22:44,550 I had to, cuz the thing is with strategies, 429 00:22:44,550 --> 00:22:46,630 you can't test it out for one or two days. 430 00:22:46,850 --> 00:22:51,630 You gotta give it enough time to actually tell you that the strategy does work 431 00:22:51,640 --> 00:22:55,470 or it doesn't work. So I, and that's why my, 432 00:22:55,470 --> 00:22:56,830 the learning curve with me was, 433 00:22:56,830 --> 00:23:00,470 was a little bit bigger than for most people because I gave things months. 434 00:23:00,730 --> 00:23:01,300 You know, 435 00:23:01,300 --> 00:23:05,390 I studied Wall Street Academy for nine months before I even looked into another 436 00:23:05,390 --> 00:23:08,230 course. And even when I did look into another course, um, 437 00:23:08,230 --> 00:23:11,710 I was still studying that course along with Wall Street Academy. 438 00:23:11,710 --> 00:23:13,550 So I was kind of putting things together. 439 00:23:13,600 --> 00:23:16,870 So I had my little aha moments here and there. Um, 440 00:23:16,870 --> 00:23:19,990 but when everything clicked for me was when I discovered scalping. 441 00:23:19,990 --> 00:23:21,190 Because when I learned, 442 00:23:21,190 --> 00:23:25,110 I first started learning how to trade and did not know what scalping was. 443 00:23:25,110 --> 00:23:25,943 I never heard of it. 444 00:23:26,020 --> 00:23:29,510 I thought when you were trading you had to catch an entire move, 445 00:23:29,610 --> 00:23:32,790 but in reality you can catch this much of a move and still make money. 446 00:23:33,080 --> 00:23:37,310 So when I discovered scalping, it changed the game for me, uh, on its head, 447 00:23:37,310 --> 00:23:40,790 literally upside down. And I never looked back. 448 00:23:40,920 --> 00:23:43,790 In. Once you discover it, what was the, what was the key thing for you? 449 00:23:44,320 --> 00:23:48,450 It was through, um, Raja Banks. It was through him. 450 00:23:48,600 --> 00:23:52,010 I stumbled across his, uh, YouTube, uh, 451 00:23:52,010 --> 00:23:54,370 live when he was doing the live sessions on YouTube. 452 00:23:54,680 --> 00:23:56,370 I don't know how I found him. I, I, 453 00:23:56,400 --> 00:23:59,850 I think he just popped up on my explore page or something and I, 454 00:23:59,850 --> 00:24:01,970 I started watching and I, at the time, 455 00:24:02,240 --> 00:24:04,970 I didn't even know if people did live trade sessions. 456 00:24:04,970 --> 00:24:08,170 There weren't that many people doing live trade sessions at the time mm-hmm. 457 00:24:08,210 --> 00:24:10,410 . So when I found him, that was a new thing for me. I was like, oh, 458 00:24:10,410 --> 00:24:13,770 people are actually doing it, like live and, you know, in front of people. 459 00:24:14,030 --> 00:24:17,530 And at the time I think he had like two, 300 people watching. Um, not that many. 460 00:24:17,530 --> 00:24:20,930 But, uh, I, I watched him for like three days. 461 00:24:21,370 --> 00:24:25,770 Three days I watched him and it just so happens once again 462 00:24:26,040 --> 00:24:30,850 that he was having an in-person course in Miami and at the time he was 463 00:24:30,850 --> 00:24:33,130 living in Canada. So I said, wait a minute. 464 00:24:33,130 --> 00:24:35,730 He's coming to Miami and he's gonna be showing us how to do this. 465 00:24:36,320 --> 00:24:40,610 I gotta meet this guy. I gotta go, I gotta go. And at the time I was struggling. 466 00:24:40,610 --> 00:24:45,450 I was really struggling because, um, I was still swinging, trading, you know, 467 00:24:45,450 --> 00:24:50,050 trying to hold positions, trying to, you know, uh, I was overleveraging a lot, 468 00:24:50,050 --> 00:24:53,970 you know, trying to make back losses. I had a lot of bad habits. Um, 469 00:24:53,980 --> 00:24:58,370 my risk management was out the window. Uh, it was tough. It was tough. Uh, 470 00:24:58,370 --> 00:25:01,970 but when I found him, what took me with him was that he was scalping. 471 00:25:01,970 --> 00:25:05,890 And not only was he scalping, but he wasn't using any indicators. 472 00:25:06,470 --> 00:25:11,410 And I had probably maybe six or seven courses at the 473 00:25:11,410 --> 00:25:13,130 time that I had bought at that time. 474 00:25:13,550 --> 00:25:18,330 And every single one of those courses was centered around indicators. 475 00:25:18,330 --> 00:25:21,490 Oh. And indicators was a very hard topic for me. 476 00:25:21,630 --> 00:25:25,650 And when I saw that this guy was trading literally with nothing but looking at 477 00:25:25,850 --> 00:25:29,570 the candles, I said, this is, this is it, this is it for me. 478 00:25:29,870 --> 00:25:34,730 And I used my last $1,200 that I had like to my name 479 00:25:34,730 --> 00:25:38,570 and I didn't even have it. I bought it on a credit card and I was just hoping, 480 00:25:38,570 --> 00:25:42,410 praying, please let this card go through . Cause I didn't have the money, 481 00:25:42,410 --> 00:25:45,610 you know, and I was able to, to get the class to get in. 482 00:25:45,610 --> 00:25:47,810 And I actually called out sick because he has, 483 00:25:47,810 --> 00:25:50,930 he has his in persons over the weekend. And I used to work over the weekends. 484 00:25:50,930 --> 00:25:54,090 I never had weekends off. So it was three days. It was a Friday, Saturday, 485 00:25:54,090 --> 00:25:57,170 Sunday. And uh, I called out sick all three days. 486 00:25:57,410 --> 00:25:58,243 Right? 487 00:25:58,310 --> 00:26:02,210 All three days. I didn't care. I was like, I want this . And, um, 488 00:26:02,210 --> 00:26:03,930 ever since then, uh, three, 489 00:26:03,930 --> 00:26:08,410 I would say three months after that I took that in-person class was when I 490 00:26:08,570 --> 00:26:12,050 actually started seeing a lot more upside to my trading. Right. 491 00:26:12,050 --> 00:26:13,730 I would say after that. So that was. 492 00:26:14,100 --> 00:26:16,970 So, okay, cool. So, so what was, what was the sort of, 493 00:26:17,240 --> 00:26:18,970 I mean obviously candlesticks, what were the, 494 00:26:18,970 --> 00:26:20,410 what were the other key things around the, 495 00:26:20,410 --> 00:26:25,090 so there was purely a scalping approach? Yes. On what timeframes were you, 496 00:26:25,090 --> 00:26:26,490 were you looking to get in on? 497 00:26:26,580 --> 00:26:29,210 Um, I would say mostly the daily, 498 00:26:29,310 --> 00:26:34,130 the four hour and then 30 minute entries was it for me now I've 499 00:26:34,130 --> 00:26:38,330 graduated to looking at the five minute to take my entries to get better entries 500 00:26:38,330 --> 00:26:42,010 now, cuz obviously it takes time to get better with your entries. But, um, 501 00:26:42,010 --> 00:26:45,480 understanding how to analyze my daily, my weekly, 502 00:26:45,850 --> 00:26:47,480 my four hour timeframes, you know, 503 00:26:47,480 --> 00:26:50,080 the higher timeframe correlations is everything with trader. 504 00:26:50,080 --> 00:26:52,400 It doesn't matter what kind of trader you are. If you're a scalper, 505 00:26:52,400 --> 00:26:53,360 intraday swing trader, 506 00:26:53,460 --> 00:26:56,960 you still have to know how to break down your high timeframes. Uh, 507 00:26:56,960 --> 00:27:01,000 I'm of that belief. And once I was able to master that, then I said, okay, 508 00:27:01,320 --> 00:27:05,720 now I can, I can look at other things. I can understand market structure, 509 00:27:05,790 --> 00:27:08,760 I can understand understanding volume in the market. 510 00:27:08,760 --> 00:27:12,120 I can understand how timeframe, how to correlate timeframe, 511 00:27:12,120 --> 00:27:16,040 correlation and put that with market structure and how do I use that to get 512 00:27:16,040 --> 00:27:19,520 myself better with entries. Uh, how do I know when to get in, when to get out, 513 00:27:19,520 --> 00:27:21,400 you know, what are, what are the best stop losses? 514 00:27:21,400 --> 00:27:25,080 What are the best take profits? Um, and then working on my psychology as well, 515 00:27:25,080 --> 00:27:27,480 being content with just taking, you know, 516 00:27:27,480 --> 00:27:31,160 a small amount of pimps and leaving the rest on the table because most people, 517 00:27:31,230 --> 00:27:32,840 they want as much as they can get, 518 00:27:32,980 --> 00:27:35,640 but it takes a different type of discipline to say, 519 00:27:35,980 --> 00:27:39,240 I'm only catching this many pimps and once I hit that I am out, 520 00:27:39,240 --> 00:27:43,840 I don't care how many more it goes after I'm getting out. That discipline I had, 521 00:27:43,840 --> 00:27:47,960 I had to grow into that. I had to build that within me. And once I did that, 522 00:27:47,960 --> 00:27:49,920 I mean, it was game over at that point. 523 00:27:49,920 --> 00:27:53,640 Mm-hmm. . And now I remember like Raja from memory, 524 00:27:53,850 --> 00:27:58,480 he has been on the show, sort of would look to take maybe 20 pip profit. 525 00:27:58,480 --> 00:28:01,480 What he, what did he like a fixed tape profit kind. 526 00:28:01,480 --> 00:28:06,320 Of approach? He was, he was a 10 pip, God, it was 10 pip, it was 10 pips. 527 00:28:06,660 --> 00:28:11,240 And he, and he, this is the thing with him that did it for me was, 528 00:28:11,370 --> 00:28:15,200 uh, after I became his student, I took the in-person class. You know, you were, 529 00:28:15,200 --> 00:28:18,440 you're in the, the student group and whatnot. And he was always active in there, 530 00:28:18,440 --> 00:28:19,920 always talking, always accessible, 531 00:28:19,920 --> 00:28:23,960 which I liked because in many other courses that I had bought, uh, 532 00:28:24,190 --> 00:28:27,920 good luck getting ahold of the person that made the course, you know, 533 00:28:27,920 --> 00:28:30,400 you're talking to other students that have the course, 534 00:28:30,400 --> 00:28:34,160 but the main person wasn't very active in there. 535 00:28:34,610 --> 00:28:37,360 So when I saw that he was active and I was like, oh, 536 00:28:37,360 --> 00:28:40,440 I can message him and he's messaging me right back and I could ask him questions 537 00:28:40,440 --> 00:28:43,360 and I could send him chart work and stuff. So I thought that was really cool. 538 00:28:43,600 --> 00:28:48,520 That was very different. And um, one day I messaged him and I said, 539 00:28:48,520 --> 00:28:52,800 Hey Raja, you know, I'm really struggling. Uh, I'm on the verge of giving up. I, 540 00:28:52,800 --> 00:28:55,800 I, I can't seem to understand this, I can't seem to get anywhere with it. 541 00:28:56,110 --> 00:28:59,680 I don't know what to do. And he messaged me back and said, Hey, 542 00:28:59,680 --> 00:29:04,060 let's do a one-on-one. And it, and it blew my mind cuz I'm like a one-on-one, 543 00:29:04,060 --> 00:29:08,500 like just you , like just us like nobody else. Like, 544 00:29:08,500 --> 00:29:11,420 he's like, yeah, like what are you available now? Let's do it now. 545 00:29:11,420 --> 00:29:13,260 And I was like, oh my God, 546 00:29:13,260 --> 00:29:17,220 I started and I'm freaking out because I'm like, I did not expect that. 547 00:29:17,220 --> 00:29:19,980 I expected him to say, okay, it's okay, you keep studying and keep your head up, 548 00:29:19,980 --> 00:29:21,100 you know, typical stuff. 549 00:29:21,160 --> 00:29:26,140 But he took a special interest in me actually getting the 550 00:29:26,140 --> 00:29:30,020 help that I needed and that really, really resonated with me. Mm-hmm. 551 00:29:30,080 --> 00:29:33,300 And after that, it was like, we were on for about maybe two hours, 552 00:29:33,300 --> 00:29:37,500 two and a half hours, almost three hours. And um, 553 00:29:37,500 --> 00:29:40,900 the only reason why he got off was cuz he had to go spend time with his kids and 554 00:29:40,900 --> 00:29:45,200 stuff. But, uh, he took that much time with me and after that he said, Charlene, 555 00:29:45,560 --> 00:29:49,560 after go what we went over today and every day I want you to send me your charts 556 00:29:49,560 --> 00:29:52,680 every day, every single day. Send me your charts on every trade you take, 557 00:29:53,090 --> 00:29:56,400 do this, this, and this. Go for 10 pips, get your 10 pips and get out, 558 00:29:56,400 --> 00:29:59,720 be done for the day. And that's it. Do that only, and I promise you, 559 00:29:59,960 --> 00:30:03,360 you will see a difference in your trading. And I did that. 560 00:30:03,360 --> 00:30:07,940 He could have told me, wake up in the morning, do three back flips, 561 00:30:08,100 --> 00:30:12,620 touch my nose and sing like a bird before I traded. And I would've done, 562 00:30:12,650 --> 00:30:13,483 I would've done that. 563 00:30:13,660 --> 00:30:14,493 . 564 00:30:14,630 --> 00:30:18,540 So, so I said, you know what, this guy knows what he's doing. He's teaching, 565 00:30:18,540 --> 00:30:20,540 he's taking the time out of his day to help me. 566 00:30:20,640 --> 00:30:25,300 The least I could do is just do what he says to do. And I did that, I did that. 567 00:30:25,300 --> 00:30:27,700 I sent him my charts every day, every day that I traded, 568 00:30:27,700 --> 00:30:31,180 every recession that I traded, I sent him my charts. He would give me feedback, 569 00:30:31,180 --> 00:30:33,740 he would help me with this and that. When I got in my trades, 570 00:30:33,740 --> 00:30:37,820 I took 10 pips and I got out. I would close out at a certain, if I took a loss, 571 00:30:37,820 --> 00:30:41,060 it was a small loss. I was managing my losses the way he taught me to. 572 00:30:41,560 --> 00:30:45,140 And ever since then, I've been profitable ever since. Ever. 573 00:30:45,140 --> 00:30:46,220 Since. Wow. Wow. 574 00:30:46,440 --> 00:30:50,340 And so are you still taking 10 pit profits or have you sort of changed that? 575 00:30:50,340 --> 00:30:53,700 Well, I've, I've caught, I'm, I'm catching more now, 576 00:30:53,960 --> 00:30:58,740 but I still have that mentality. I still have that right. You know, like, okay, 577 00:30:58,740 --> 00:31:03,100 I'm okay with 10 because obviously I'm using bigger life sizes now. So my, 578 00:31:03,390 --> 00:31:07,180 my being content with a certain amount of profit is at a level where I'm okay 579 00:31:07,180 --> 00:31:10,020 with it. So I really don't mind just taking 10 pips, 580 00:31:10,020 --> 00:31:12,380 but I've kind of pushed myself to catching a little bit more. 581 00:31:12,470 --> 00:31:16,220 So I'm p I'm even trading a little bit more volatile pairs now that I know will 582 00:31:16,220 --> 00:31:18,660 push at least 20, 30, 40 pips in a, 583 00:31:18,660 --> 00:31:21,140 in a move that normally I would only get 10 pips in. 584 00:31:21,350 --> 00:31:25,300 So now I'm not typically just getting 10 pips. I'm trying to get more, 585 00:31:25,680 --> 00:31:29,380 but I, I'll never like, leave that mentality to where I'm, 586 00:31:29,380 --> 00:31:33,780 I'm too good to catch only 10 pips now I will never be too good to only catch 10 587 00:31:33,780 --> 00:31:36,460 because it's a blessing to even be able to do that. 588 00:31:36,460 --> 00:31:38,740 Some people can't get a win at all, you know? 589 00:31:38,740 --> 00:31:42,940 So to be able to do that consistently, um, is, is definitely a positive. 590 00:31:43,160 --> 00:31:46,860 And so with the style of trading, I mean, do do you have, I mean, 591 00:31:46,860 --> 00:31:51,480 are you able to sort of adequately sort of relay 592 00:31:51,790 --> 00:31:56,280 a, an what's the risk to reward ratio kind of thing? Mm-hmm. . So, 593 00:31:56,280 --> 00:31:59,600 because I know that from what memory, like Raja will, you know, 594 00:31:59,600 --> 00:32:02,240 if it goes into 50% drawdown, 595 00:32:02,240 --> 00:32:06,280 you might take off half the position and then get out with half the, you know, 596 00:32:06,280 --> 00:32:07,920 and get us a break even trade or something like that. 597 00:32:08,010 --> 00:32:11,240 So there's a ways to manage it, which makes it a little bit harder to go, oh, 598 00:32:11,240 --> 00:32:14,960 it's a fixed, you know, three, three r kind of trade. What, what's, 599 00:32:14,960 --> 00:32:17,240 how do you do, how do you, how does it typically look for you? 600 00:32:17,950 --> 00:32:20,920 Well, I actually stack my positions now, um, 601 00:32:20,920 --> 00:32:25,640 most likely because I'm trying to maximize my profit potential on the same 602 00:32:25,640 --> 00:32:30,360 amount of, uh, I guess risk you could say. Because like for instance, 603 00:32:30,360 --> 00:32:34,520 if I'm, let's say I'm looking for 15 pips on a move, which isn't very much, 604 00:32:34,860 --> 00:32:38,160 but if I'm catching 15 pips on let's say three positions, 605 00:32:38,430 --> 00:32:42,600 I've now now maximized my profit potential on the same move that I would've 606 00:32:42,600 --> 00:32:44,080 caught for that one position. 607 00:32:44,330 --> 00:32:48,200 So I'm already exposing myself to a certain amount of risk. But, um, 608 00:32:48,790 --> 00:32:53,400 I typically do not close partials. Um, I don't even use the magic keys much, 609 00:32:53,400 --> 00:32:57,600 much anymore. I do trade, uh, everything manually, but, um, 610 00:32:58,340 --> 00:33:01,730 I'm, so, what's the word I'm looking for? 611 00:33:01,730 --> 00:33:06,690 I'm very confident in my strategy to the point where I'm 612 00:33:06,690 --> 00:33:10,370 okay opening those positions and taking that level of risk because I know 613 00:33:10,370 --> 00:33:14,450 exactly where I'm gonna get out if the trade goes against me and I know where 614 00:33:14,450 --> 00:33:16,890 I'm gonna get out once it goes into a certain amount of profit. 615 00:33:17,350 --> 00:33:21,370 And I've done it, I've done it like that now for like the last three years. 616 00:33:22,140 --> 00:33:26,370 So I don't see myself changing it anytime soon. I'm okay with the, with the, 617 00:33:26,370 --> 00:33:28,490 the level of risk that I've taken on my account, 618 00:33:28,640 --> 00:33:33,330 it's shown me that I'm pretty profitable doing it. Uh, so no, I, I don't, 619 00:33:33,400 --> 00:33:36,050 I don't typically trade like him when it comes to, you know, 620 00:33:36,050 --> 00:33:39,930 closing parcels and whatnot because, um, I don't even know if he stacks. 621 00:33:39,930 --> 00:33:42,050 I don't think he stacks. But, um, 622 00:33:42,050 --> 00:33:46,490 I'm seeing that becoming more of a thing now with stacking positions. Um, 623 00:33:46,960 --> 00:33:50,770 a lot more traders are doing it. I know I do it. Raul does it, Q does it. Um, 624 00:33:50,770 --> 00:33:53,250 a lot more traders are coming out with stacking positions and it's, 625 00:33:53,250 --> 00:33:56,850 it's just a benefit to me because if you're already in a trade for one, 626 00:33:56,850 --> 00:34:00,410 you know, for, for catching that same position for one, I mean, 627 00:34:00,410 --> 00:34:03,090 it doesn't have to be the same lot size. It can be a smaller lot size, 628 00:34:03,090 --> 00:34:06,050 it can be a half of a lot, you know, whatever it is. Um, 629 00:34:06,050 --> 00:34:08,890 but why not make more if, if you're already in the move, 630 00:34:08,890 --> 00:34:11,730 why not maximize the profit potential? You know what I mean? 631 00:34:11,980 --> 00:34:16,650 So that's just kind of my ideology behind that. Um, but it doesn't, 632 00:34:16,650 --> 00:34:19,050 it's, it's not to knock closing parcels at all. 633 00:34:19,050 --> 00:34:23,970 You should still do that if you are someone who wants to really, you know, 634 00:34:23,970 --> 00:34:28,250 keep discipline to a t most definitely the trade is going against you, 635 00:34:28,250 --> 00:34:30,330 but you still have confidence in the setup. 636 00:34:30,600 --> 00:34:34,290 More than likely you could take a little bit of risk off of your trade, um, 637 00:34:34,290 --> 00:34:36,570 until the trade tells you, Hey, it's not going your way. 638 00:34:36,570 --> 00:34:39,450 Maybe you should get out a hundred percent. Hmm. So I mean it's, 639 00:34:39,450 --> 00:34:42,010 it's all of the preference to me. It's about preference and, 640 00:34:42,010 --> 00:34:43,690 and everyone's different level of risk. 641 00:34:43,720 --> 00:34:48,050 Yeah. Yeah. Now, now what about, um, winning rates and, uh, 642 00:34:48,410 --> 00:34:50,930 we'll go through some of the stats, like what's your win rate look like? 643 00:34:52,190 --> 00:34:55,570 You know, I'm not big on percentages, to be honest with you. I, I, 644 00:34:55,570 --> 00:34:59,010 I suck at math, so I know I'm profitable. 645 00:34:59,010 --> 00:35:02,610 If I had to put a number on my win rate, it would probably be like 646 00:35:04,580 --> 00:35:08,450 in the high seventies, low eighties, I. 647 00:35:08,450 --> 00:35:10,050 Would say. Right. So you don't lose very often. 648 00:35:10,520 --> 00:35:15,330 Yeah. Yeah. I would say, like for instance, this past January, um, 649 00:35:15,330 --> 00:35:20,250 I traded live on YouTube for the entire month from January 3rd all the way to 650 00:35:20,250 --> 00:35:23,570 the end of January. And in that entire month we traded every day. 651 00:35:23,570 --> 00:35:26,210 We only took three losses that entire month. 652 00:35:26,740 --> 00:35:31,130 So to me that, I mean, that was great. That was a great start to the year, 653 00:35:31,130 --> 00:35:34,690 I gotta say. Yeah, and to do it live was amazing. You know, 654 00:35:34,690 --> 00:35:38,720 everybody would, people were, were killing it like crazy, which was awesome. Um, 655 00:35:38,720 --> 00:35:42,640 is it like that all the time? No, not only that, but the thing is, 656 00:35:42,640 --> 00:35:44,200 I don't trade every day anymore. 657 00:35:44,200 --> 00:35:47,160 I was only doing it every day because I was doing the live sessions. 658 00:35:47,160 --> 00:35:50,040 But if I wasn't doing the live sessions, I wouldn't be trading every day. 659 00:35:50,040 --> 00:35:53,440 Cause if, if I have a good day, like if I have a good day or even a good week, 660 00:35:53,490 --> 00:35:57,680 if I'm doing, like, let's say if I have a, a 10 K day or let's say a, uh, 661 00:35:57,680 --> 00:35:59,040 I don't know, a 20 k a week, 662 00:35:59,310 --> 00:36:03,680 a lot of times I'm not trading all the time after that anymore because I'm, 663 00:36:03,820 --> 00:36:05,200 I'm okay with that profit. 664 00:36:05,230 --> 00:36:08,640 I don't really like to put it at risk after I've already made it. 665 00:36:08,900 --> 00:36:10,120 And then on top of that, 666 00:36:10,350 --> 00:36:14,480 I have other businesses that I do outside of trading that take up some my time. 667 00:36:14,690 --> 00:36:18,520 So I don't dedicate too much time to trading anymore because I have other 668 00:36:18,720 --> 00:36:21,400 endeavors and other things that, you know, require my time. 669 00:36:21,450 --> 00:36:26,120 So it's kind of hard to put a percentage on my win rate because I'm not trading 670 00:36:26,120 --> 00:36:30,240 every day anymore. And when I do trade, yes, I win more than I lose, 671 00:36:30,240 --> 00:36:33,280 but what's the percentage I would've to break it down week by week or something 672 00:36:33,280 --> 00:36:35,960 like that, one by month to really give you a solid number. Yeah. 673 00:36:35,960 --> 00:36:38,680 Well it sounds, it sounds like it's, it's pretty high. I mean, what, 674 00:36:38,680 --> 00:36:40,480 how many instrument instruments are you trading? 675 00:36:41,220 --> 00:36:44,680 I'm trading yours 30 now, which I'm still kind of getting the hang of. 676 00:36:44,780 --> 00:36:48,520 But my main pair is gold and my backup pair is au So that's, 677 00:36:48,520 --> 00:36:52,080 those are the main instruments I trade now. Yeah. Okay. I love, I love gold. 678 00:36:52,320 --> 00:36:55,160 . And, and how, how many trades in a week would you take? 679 00:36:56,070 --> 00:37:00,600 I typically take one trade a day or, or maybe two. 680 00:37:00,600 --> 00:37:02,360 Maybe two. Cuz now I'm trading us 30, 681 00:37:02,360 --> 00:37:07,280 so I'm taking positions potentially on gold or au and now, uh, US 30, 682 00:37:07,280 --> 00:37:10,640 like for instance, I'm in a, in a trade now on US 30 where I'm holding bars, 683 00:37:11,090 --> 00:37:14,440 so that would count as another position because I took gold this morning as 684 00:37:14,440 --> 00:37:17,600 well. So that's typically two trades. So on average, 685 00:37:17,600 --> 00:37:22,080 I'm taking really only one setup a day. So if I'm trading every day, 686 00:37:22,080 --> 00:37:25,880 I'm only taking one trade. So on average I'm only taking five trades a week. 687 00:37:26,370 --> 00:37:30,240 So it's, it's not very much at all, at all. My keep my, my, it's, 688 00:37:30,240 --> 00:37:32,880 it's qu quality over quantity for me. 689 00:37:33,340 --> 00:37:35,480 And so, so what is your typical trading day? 690 00:37:35,480 --> 00:37:39,040 And I'm guessing you have days where you, you'll trade and then, you know, 691 00:37:39,040 --> 00:37:42,640 if you make the profit then you'll stop. But what would that day be like? 692 00:37:43,530 --> 00:37:47,240 So I get up every day around 6, 6 15, 6 30, the latest, 693 00:37:47,300 --> 00:37:52,280 and I'm on the computer by like 7, 7 15 ish. Um, I would get up and, uh, 694 00:37:52,280 --> 00:37:53,920 the first thing I would do is I would check the news. 695 00:37:53,920 --> 00:37:57,240 I would check for exactly for news to see if there's news out there. Um, 696 00:37:57,240 --> 00:37:59,960 I don't look at any other pairs except the ones I trade. 697 00:38:00,190 --> 00:38:04,920 I don't look at any other pairs. So I only look at gold. I mostly, uh, 698 00:38:05,010 --> 00:38:08,240 au for my backup. And then I have us study that. I'm still studying, 699 00:38:08,240 --> 00:38:10,360 still learning. I don't rush into US study. 700 00:38:10,360 --> 00:38:13,640 I'm still taking my time with it because I trade it very differently than I do 701 00:38:13,640 --> 00:38:17,920 gold or uh, au. And then, um, on top of that, uh, 702 00:38:17,970 --> 00:38:20,120 in my experience with us 30, 703 00:38:20,120 --> 00:38:22,720 it doesn't move until like 8, 8 30, 9 o'clock anyway, 704 00:38:22,720 --> 00:38:25,960 so I'm on the choice by seven. So I have a good amount of time to, uh, 705 00:38:25,960 --> 00:38:30,840 to chill with gold or au until I look at a u s 30. But for the most part, 706 00:38:30,840 --> 00:38:32,800 I usually find my setups by like, 707 00:38:32,830 --> 00:38:36,480 I would say eight o'clock to about 9 45. 708 00:38:36,810 --> 00:38:39,240 In that window of time is usually when I find a setup, 709 00:38:39,240 --> 00:38:43,440 because I'm usually off the charts by like 10 30, 10 30, 11, that's the latest. 710 00:38:43,440 --> 00:38:46,640 So my trading time is between seven and 11 in the morning. 711 00:38:46,640 --> 00:38:48,400 If I don't find a setup in that time, 712 00:38:48,400 --> 00:38:50,560 I'm off the charts and I'm going about my day. 713 00:38:50,850 --> 00:38:52,680 So that's my schedule every day I wake up. 714 00:38:52,680 --> 00:38:55,800 At that time I traded from seven to about 11, and then I'm off. 715 00:38:55,800 --> 00:38:58,360 Usually once I get my setup, if I get my set, 716 00:38:58,360 --> 00:39:02,320 sometimes I'll get it at like 7 30, 8 o'clock. If I, once I grab my, my, um, 717 00:39:02,320 --> 00:39:07,000 you know, 10, 20 pips I'm usually done. So I'm off, I'm gone and I'm, 718 00:39:07,000 --> 00:39:09,160 you know, leaving my doings during my day. 719 00:39:09,370 --> 00:39:11,240 So sometimes I'm not even on the charge that long. 720 00:39:11,240 --> 00:39:12,720 I grab a quick setup and I'm out. 721 00:39:13,650 --> 00:39:16,200 So interesting. You say I use your backup. I mean, 722 00:39:16,200 --> 00:39:18,200 what was the thinking around au? 723 00:39:19,150 --> 00:39:22,880 Well, with gold, um, it doesn't always gimme the setups that I'm looking for. 724 00:39:23,020 --> 00:39:26,440 And it typically moves similarly to gold, however, 725 00:39:26,440 --> 00:39:30,640 it's not as volatile as gold is. So, uh, I love the way it moves, 726 00:39:30,640 --> 00:39:34,920 it correlates well with gold as well. So usually it's like back and forth. 727 00:39:34,920 --> 00:39:36,160 If goal doesn't gimme the setup, 728 00:39:36,160 --> 00:39:39,800 I most likely will find something on au and if AU doesn't gimme a setup, 729 00:39:39,820 --> 00:39:43,240 I'm probably not trading for the day. So that'll be a no trade day for me. 730 00:39:43,240 --> 00:39:45,360 But for the most part, if I don't find a setup on one, 731 00:39:45,510 --> 00:39:48,760 I'll find a setup on another. And now I have us 30 that I'm learning, 732 00:39:48,980 --> 00:39:51,200 and pretty soon, I would say in the next, 733 00:39:51,200 --> 00:39:55,400 like by this summer or maybe the end of the year latest, 734 00:39:55,750 --> 00:39:58,320 I want to only be trading us 30 and gold. 735 00:39:59,160 --> 00:40:03,930 Righty ho. Now, uh, so you, you uh, I suppose over the course of what, 736 00:40:03,930 --> 00:40:07,170 2018 to now, the whole prop firm thing has just exploded. 737 00:40:07,170 --> 00:40:10,690 Did you ever dive into prop firms and try the challenges and, and how'd you go? 738 00:40:11,320 --> 00:40:15,010 I did, uh, I did try F T M O. I've tried top tier. 739 00:40:15,010 --> 00:40:18,730 Those are the only ones I've ever tried. I know of other companies. Um, 740 00:40:18,790 --> 00:40:22,890 I'm not a big fan of prop firms because I, I do think they work, 741 00:40:22,890 --> 00:40:24,770 I think they're great for traders who don't, 742 00:40:24,770 --> 00:40:28,370 who just don't have the funds available to them to risk, uh, 743 00:40:28,370 --> 00:40:30,970 in the live markets. But, um, 744 00:40:30,970 --> 00:40:34,290 I also feel like it kind of hinders certain type of trader because it, it, 745 00:40:34,290 --> 00:40:39,130 it changes your trading style. Uh, I'm a very risky trader. I like to take risk. 746 00:40:39,300 --> 00:40:42,410 Um, I don't mind taking risk, you know, no risk, no reward, 747 00:40:42,410 --> 00:40:43,243 you know what I mean? 748 00:40:43,380 --> 00:40:46,810 So you can't really be a trader if you're not willing to risk something, 749 00:40:46,810 --> 00:40:51,010 you know, to make big money, you have to risk big money. So with prop firms, 750 00:40:51,040 --> 00:40:56,010 I feel like the rules are so tight sometimes that it's very hard to color 751 00:40:56,010 --> 00:40:59,090 within the lines with them. And that's why they're so hard to, 752 00:40:59,090 --> 00:41:02,090 to pass because the, the parameters, 753 00:41:02,090 --> 00:41:06,410 the risk parameters that they give you are just so minimal and it's easy to kind 754 00:41:06,410 --> 00:41:09,610 of, to kind of, you know, dip your foot in that, in that, in that pool. 755 00:41:09,980 --> 00:41:12,690 So it's tough. But the flip side of it is, 756 00:41:12,690 --> 00:41:17,330 I feel like the risk management that they teach you to abide by is 757 00:41:17,610 --> 00:41:21,490 great. I think it's great. I think if more people Im, 758 00:41:21,490 --> 00:41:24,490 I implemented those risk parameters on their live account, 759 00:41:24,490 --> 00:41:27,170 they would probably see a lot more consistency as well. 760 00:41:27,310 --> 00:41:29,370 But it all depends on the kind of trader you are, 761 00:41:29,370 --> 00:41:32,450 the type of risk you're willing to take on your setups and your knowledge as 762 00:41:32,450 --> 00:41:35,600 well. Because at, at the end of the day, it's not about your account size, 763 00:41:35,600 --> 00:41:39,200 it's not about anything. It's about your psychology and your skill, 764 00:41:39,200 --> 00:41:42,320 because those are the two things that are gonna help you become a, 765 00:41:42,320 --> 00:41:45,400 a consistent trader. And without those, doesn't matter how much money you have, 766 00:41:45,400 --> 00:41:47,080 you can have a million dollar account, you're, 767 00:41:47,080 --> 00:41:49,480 you're gonna blow it just as much as you would a hundred dollars account because 768 00:41:49,480 --> 00:41:53,800 you don't have the skill required to be able to manage, um, to manage, uh, 769 00:41:53,800 --> 00:41:54,633 your trading. 770 00:41:54,660 --> 00:41:56,480 And, and in terms of like, I mean it sounds like, 771 00:41:56,480 --> 00:42:00,720 like you've got a unique approach to risk, uh, and risk management. I mean, how, 772 00:42:00,720 --> 00:42:04,080 how do you, how do you sort of determine how much you're gonna put at risk on a, 773 00:42:04,080 --> 00:42:05,320 on a one particular trade? 774 00:42:05,810 --> 00:42:08,720 It, so it depends on the setup that I'm looking at. Like for instance, 775 00:42:08,720 --> 00:42:11,720 if I'm seeing, let's say a high probability setup where I'm looking for, I'm, 776 00:42:11,720 --> 00:42:15,760 I'm typically a break and retest volume trader. So if I see, you know, 777 00:42:16,310 --> 00:42:21,000 I plan my trade way ahead before I take the trade, um, on my live sessions, 778 00:42:21,000 --> 00:42:25,520 I show my students and the people that are watching how I actually plan the 779 00:42:25,520 --> 00:42:28,440 trade before I'm even in the trade. So before I'm in the trade, 780 00:42:28,440 --> 00:42:31,120 I know where I want to get in, I know where I want to get out, 781 00:42:31,120 --> 00:42:32,960 if the trade goes against me, and I know, 782 00:42:32,960 --> 00:42:36,560 you know where I'm willing to hold my trade if it goes into a certain amount of 783 00:42:36,560 --> 00:42:38,760 profit. So I'm big on that. 784 00:42:38,760 --> 00:42:43,040 I'm big on trading plans and I'm big on knowing exactly 785 00:42:43,430 --> 00:42:47,240 what you wanna see happen before you ever hit the buyer sell button. 786 00:42:47,380 --> 00:42:51,720 You have to know what you wanna see happen and that's gonna give you the 787 00:42:51,720 --> 00:42:55,120 confidence to get in. Okay? I look at it like this. If I say to myself, 788 00:42:55,120 --> 00:42:58,640 I wanna see a bullish in golfing, I wanna see a break of this level. 789 00:42:58,670 --> 00:43:02,880 I wanna see, you know, support being held over here. If I see a, B, C, 790 00:43:03,260 --> 00:43:06,640 I'm executing because I already said these are the things I wanna see happen 791 00:43:06,710 --> 00:43:10,200 that are giving me the confirmations that I need to back up my bias. 792 00:43:10,570 --> 00:43:14,200 So what's the point of doing an analysis? It's is if, 793 00:43:14,330 --> 00:43:17,240 if you see what you wanted to see happen and you don't execute. 794 00:43:18,010 --> 00:43:22,840 So if you plan your trade and you see your plan literally playing 795 00:43:22,840 --> 00:43:23,680 out in front of you, 796 00:43:23,860 --> 00:43:27,360 you need to execute because that's what you wanted to see happen. Now, 797 00:43:27,390 --> 00:43:30,360 before you get in, you made a plan. The plan was, I'm gonna look, 798 00:43:30,360 --> 00:43:33,280 I'm gonna see this, this, and this, and if this, this, and this happens, 799 00:43:33,280 --> 00:43:36,840 then I'm getting in. But before you do that, if this, this, 800 00:43:36,840 --> 00:43:41,000 and this happens after this, is it going my way or is it not? 801 00:43:41,000 --> 00:43:43,840 Because if it's not going my way, I gotta know where I'm getting out. 802 00:43:43,940 --> 00:43:47,120 And if it is going my way, I also need to know where I'm getting out. 803 00:43:47,120 --> 00:43:50,280 Cuz they may not go your way forever. Where are you gonna be okay with coming, 804 00:43:50,280 --> 00:43:52,560 with grabbing your profits, taking profits? 805 00:43:52,560 --> 00:43:56,600 Are you gonna be leaving some runners? Are you gonna be done for the day? Um, 806 00:43:56,600 --> 00:43:59,400 are you gonna be looking for a second opportunity if it's a loss? 807 00:43:59,400 --> 00:44:00,960 These are all things, it's, 808 00:44:00,960 --> 00:44:04,600 it's constant like q and a that's going on in my head when I'm looking at the 809 00:44:04,600 --> 00:44:05,920 markets and when I'm looking to take a trade, 810 00:44:05,920 --> 00:44:10,320 because I feel like these are things you have to actually be experiencing when 811 00:44:10,320 --> 00:44:10,880 you're in a trade. 812 00:44:10,880 --> 00:44:14,680 You cannot just take a trade and say whatever happens happens. It, 813 00:44:14,680 --> 00:44:17,760 the markets are too volatile for that. Okay. It's, it's like, 814 00:44:17,760 --> 00:44:22,720 I like to correlate the markets with a casino, the house always wins, you know, 815 00:44:22,720 --> 00:44:26,560 so how can you give yourself an extra edge so you can have a little bit of an 816 00:44:26,560 --> 00:44:27,480 advantage for you to win? 817 00:44:27,490 --> 00:44:31,920 Because statistics say 90, 95 people typically lose at trading. 818 00:44:32,250 --> 00:44:36,400 So how can you be part of that five, 10% to where you can get out on top? Well, 819 00:44:36,660 --> 00:44:38,320 the more you take profit, 820 00:44:38,460 --> 00:44:41,880 the higher your win percentage is gonna be because you're not in the markets 821 00:44:41,880 --> 00:44:44,640 anymore. Exposing yourself to potential risk. 822 00:44:45,290 --> 00:44:47,080 So it's all about the setup for me. 823 00:44:47,080 --> 00:44:49,800 And it's about planning your trade from beginning to end. 824 00:44:49,800 --> 00:44:53,240 Absolutely. And, and so just like on the, on like percentage of your account, 825 00:44:53,240 --> 00:44:56,520 I mean, how much would you be taking from a risk percent? 826 00:44:56,790 --> 00:45:00,720 Like you down percent? Or do you just use fixed lots and, and just. 827 00:45:00,990 --> 00:45:04,200 Yeah. I, I like to use fixed lots and I'm, uh, I don't, 828 00:45:04,200 --> 00:45:07,680 I'm not big on flipping accounts. I like to put a certain amount of, of, 829 00:45:07,810 --> 00:45:11,840 of money into my account and I like to have a principal amount. So if, 830 00:45:11,840 --> 00:45:15,960 let's say I load up an account with, let's say 50 K, if I was to get the, 831 00:45:15,960 --> 00:45:19,040 the account to let's say 60 K or 65 K, 832 00:45:19,110 --> 00:45:22,560 more than likely I'm pulling that profit out and I'm just doing it all over 833 00:45:22,560 --> 00:45:24,400 again. I'm just doing it all over again. 834 00:45:24,410 --> 00:45:28,000 So I like to keep a certain principal amount. So when I start my date, 835 00:45:28,110 --> 00:45:31,360 I already have a number in mind of how much I'm willing to lose. 836 00:45:32,050 --> 00:45:34,000 So I don't know the setup. I'm gonna see it, 837 00:45:34,000 --> 00:45:36,960 the setup is gonna dictate what I'm gonna risk. So I don't know the setup, 838 00:45:36,960 --> 00:45:40,480 but I already have my mind, okay, am I up on the week? Am I down on the week? 839 00:45:40,480 --> 00:45:43,320 Can I play with house money? Can I risk a little bit more? You know? 840 00:45:43,320 --> 00:45:44,320 Cuz when you have a little cushion, 841 00:45:44,320 --> 00:45:47,240 let's say I have 50 K in my account and let's say I had a, 842 00:45:47,240 --> 00:45:52,240 a 15 k day or something. So now I'm up, you know, 65, $70,000 in the account. 843 00:45:52,690 --> 00:45:55,240 My principal amount was 50. I'm already up on the week, 844 00:45:55,240 --> 00:45:57,280 the week has just started. I still have time. 845 00:45:57,570 --> 00:46:00,800 So maybe I wanna risk a little bit more to kind of build a little more on the 846 00:46:00,800 --> 00:46:01,000 account, 847 00:46:01,000 --> 00:46:04,520 or do I wanna risk a little bit less because I don't wanna burn up all that, 848 00:46:04,520 --> 00:46:07,720 all that equity or all that, uh, profit that I just built up. 849 00:46:07,720 --> 00:46:10,840 All that cushion that I just built for myself. So I'm looking at the setup. 850 00:46:10,840 --> 00:46:12,320 If the setup is one of, 851 00:46:12,320 --> 00:46:15,560 is a high probability setup that I've taken several times before, 852 00:46:15,700 --> 00:46:18,240 and I know that it usually plays out, more than likely, 853 00:46:18,310 --> 00:46:21,880 I may wanna risk a little bit more. But if I'm not sure about the setup, 854 00:46:21,900 --> 00:46:24,720 I'm gonna take my foot off the gas a little bit and say, Hmm, 855 00:46:24,850 --> 00:46:27,960 do I wanna take this setup? And if I'm not so sure about it, 856 00:46:27,960 --> 00:46:30,800 maybe I will reduce my risk, I'll reduce my oxides. 857 00:46:30,800 --> 00:46:34,600 Maybe instead of taking more propositions, I'll take one position. You know? 858 00:46:34,730 --> 00:46:35,520 So I am, 859 00:46:35,520 --> 00:46:38,960 I do use risk management when it comes to that because I don't just want to just 860 00:46:38,960 --> 00:46:41,400 blow money. I'm, I'm not in the market of losing money like that. 861 00:46:41,690 --> 00:46:45,040 So I don't care how much I'm up, I still don't like to lose . Yeah. 862 00:46:45,040 --> 00:46:46,960 You know what I mean? So it all depends on the setup. 863 00:46:46,960 --> 00:46:49,960 And once I see the type of setup that I wanna take, then I'm like, okay, 864 00:46:50,070 --> 00:46:53,800 that's gonna dictate how much I'm gonna risk. But like I said, 865 00:46:53,800 --> 00:46:57,640 every morning when I come to the computer, I already know I'm going to win. 866 00:46:57,910 --> 00:47:00,440 I start my day off always positive, always. Okay, 867 00:47:00,440 --> 00:47:02,800 today's gonna be a winning day. And even if it's not, 868 00:47:02,830 --> 00:47:07,320 I already know how much I'm gonna lose because you have to resign yourself to 869 00:47:07,320 --> 00:47:11,040 being okay with a certain amount of loss because you never know how much you're 870 00:47:11,040 --> 00:47:13,280 gonna make, but you control how much you're gonna lose. 871 00:47:13,890 --> 00:47:17,440 So what, what about if you were like, so say it was a 50 k, you know, 872 00:47:17,440 --> 00:47:20,680 account you started off with, what would be the figure in your, 873 00:47:20,680 --> 00:47:21,680 your mind saying, okay, 874 00:47:21,680 --> 00:47:24,200 well I'm happy to lose this amount and what would that figure be. 875 00:47:25,010 --> 00:47:26,320 In a day or a month. 876 00:47:26,320 --> 00:47:28,640 Or, or in a day? I say, I suppose a day. 877 00:47:29,330 --> 00:47:33,280 In the day I would be okay losing maybe 2000, 3000. 878 00:47:34,640 --> 00:47:38,720 Anything over like 4,000 would be a lot. Right. That would be a lot to me. Yeah. 879 00:47:38,720 --> 00:47:41,040 Um, but that's, that's it. That's it. If I'm losing that, 880 00:47:41,340 --> 00:47:44,600 I'm good for the day and either that I'm looking for another setup or hey, 881 00:47:44,600 --> 00:47:47,720 wasn't my day, so I'm just gonna sit on my hands for the rest of the day. 882 00:47:47,720 --> 00:47:50,600 Yeah. And do, do you have any sort of rules around like, you, 883 00:47:50,700 --> 00:47:54,280 and you won't take any more than say, two setups or if you have a win, 884 00:47:54,280 --> 00:47:56,320 you're gonna just gonna stop? Is it anything like that? 885 00:47:56,520 --> 00:48:00,720 Typically when I have a win, I kind of stop. I, I don't like to, um, 886 00:48:00,830 --> 00:48:04,320 I don't like to be gritty. I, I just, I feel like, uh, 887 00:48:04,320 --> 00:48:08,600 I was blessed with this win. If the win was a tough win, like, you know, 888 00:48:08,600 --> 00:48:12,680 I was in drawdown for a little bit or it gave me a hard time kidding my profit, 889 00:48:13,030 --> 00:48:15,560 most likely I'm gonna be done for the day. Cuz I'm gonna be like, 890 00:48:15,560 --> 00:48:19,120 the markets kind of weren't on my side today. Yes, I ended the day with a win, 891 00:48:19,300 --> 00:48:23,600 but you know what, I need to, I need to call it a day here. Uh, oth other times, 892 00:48:23,600 --> 00:48:25,800 let's say I'm up a lot on the week and I, I want, 893 00:48:25,800 --> 00:48:30,560 I risk a lot on the trade then in, in some cases I might look and say, Hmm, 894 00:48:30,560 --> 00:48:34,640 is there another setup here? But, uh, for the most part, I'm not very greedy. 895 00:48:34,640 --> 00:48:38,560 That's why my runway rate is so high, because I take profit quickly. Mm-hmm. 896 00:48:38,560 --> 00:48:40,480 I take profit fast. When I did my live session, 897 00:48:40,480 --> 00:48:44,360 some people were mad cuz they were like, Hey, why did you close? And if, if, 898 00:48:44,360 --> 00:48:48,960 you know, gold flew another 30 pips, I don't care. I I'm good with what I got, 899 00:48:49,060 --> 00:48:53,000 you know? Yeah. So I take, I'm not, I'm not shy to take profit at all. 900 00:48:53,120 --> 00:48:55,480 . So, so you might even like, say for example on this 50, 901 00:48:55,480 --> 00:48:58,920 let's say this 50 K account example, you know, happy to lose three grand, 902 00:48:59,180 --> 00:49:03,160 but you might also be happy to take what, 500 bucks and go, 903 00:49:03,160 --> 00:49:06,840 I'm gonna walk away cuz it's just not playing out and or would or is that too 904 00:49:06,840 --> 00:49:07,673 too low? 905 00:49:07,900 --> 00:49:12,640 Yes, A bit too low . Right. Um, I wouldn't, I wouldn't, I mean, it, it, 906 00:49:12,640 --> 00:49:13,840 well it depend right? 907 00:49:13,840 --> 00:49:18,600 Because let's say I was in drawdown for majority of the setup and I got into 908 00:49:18,600 --> 00:49:22,920 profit and it's lingering right at breakeven, you know, right around one pip, 909 00:49:22,920 --> 00:49:26,160 two pip profit. And it's just, there's no volume. It's not pushing. 910 00:49:26,160 --> 00:49:30,520 Cuz mind you, again, this is in, in tone with my plan for the trade. 911 00:49:30,710 --> 00:49:35,440 When I'm as a scalper, you're a, a momentum volume trader. 912 00:49:35,850 --> 00:49:37,160 So when you get in a trade, 913 00:49:37,160 --> 00:49:40,320 you don't have time to wait 2, 3, 4 hours for it to take off. 914 00:49:40,440 --> 00:49:43,080 We're looking for it to move right then and there. 915 00:49:43,530 --> 00:49:48,400 So a lot of times I'm not in trades very long. I'm in trades at the most, 916 00:49:48,400 --> 00:49:51,880 maybe 30, maybe 45 minutes, depending on the volume. 917 00:49:52,100 --> 00:49:55,480 But there have been times I've caught five minute candles. I've caught 15, 918 00:49:55,480 --> 00:50:00,320 30 minute candles. I'm in and out, in and out. So 500, no, that's, 919 00:50:00,320 --> 00:50:03,040 that's nothing almost . So I wouldn't look to be, 920 00:50:03,040 --> 00:50:06,800 look catching 500 on a 50 K account. I'd be looking to, if, 921 00:50:06,800 --> 00:50:09,800 if I'm willing to lose maybe max three or four K, 922 00:50:09,950 --> 00:50:14,920 I better make 7, 8, 9 on the trade. Right. Okay. So that's typically what, 923 00:50:14,920 --> 00:50:17,600 what I'm looking to make. And when I say that it's, 924 00:50:17,600 --> 00:50:20,640 I have two or three positions open. So if I have two or three positions open, 925 00:50:20,680 --> 00:50:24,160 let's say I'll have, I'm up, I don't know, 10 pips, 15, 20 pips. 926 00:50:24,160 --> 00:50:27,000 That's on the lot size of that I use, that's typically two, three, 927 00:50:27,000 --> 00:50:28,640 $3,000 per position. 928 00:50:28,810 --> 00:50:32,960 So I'm already hitting my goal once I'm up 10, 12, 15 pips. 929 00:50:32,970 --> 00:50:36,520 So at that point I'm okay with closing out because I've made a good amount of 930 00:50:36,520 --> 00:50:38,680 money for that day mm-hmm. cause of that, that risk. 931 00:50:38,700 --> 00:50:39,920 You know what I mean? It it is, 932 00:50:39,920 --> 00:50:42,920 it is compared to a lot of the guests that I have on the show, 933 00:50:42,920 --> 00:50:46,960 it is high risk trading. So there's a, an art form. And how did you, 934 00:50:47,140 --> 00:50:50,600 how did you get into that, um, mindset of, 935 00:50:50,690 --> 00:50:52,920 of taking that kind of risk approach? 936 00:50:53,930 --> 00:50:58,440 Um, I noticed it when I was only catching 10 pips and I was catching it so 937 00:50:58,440 --> 00:51:03,040 consistently. I was doing it so consistently. So there was a point where I was, 938 00:51:03,130 --> 00:51:05,400 um, catching 10 pips. 939 00:51:06,110 --> 00:51:09,800 I was training New York session and I was training agent session and I was 940 00:51:09,920 --> 00:51:12,520 training DJ at the time I was training dj, that was my only pair. 941 00:51:12,540 --> 00:51:15,840 And DJ moves all day and moves all three, all the main sessions. 942 00:51:15,930 --> 00:51:19,440 So I was able to catch 10 pips during New York and 10 pips during, uh, 943 00:51:19,440 --> 00:51:23,080 agent session. So what I realized was I was using a standard of one lot. 944 00:51:23,080 --> 00:51:26,320 So I was making a hundred bucks during New York and a hundred bucks during 945 00:51:26,320 --> 00:51:30,720 agent. Like, oh, I'm at $200 a day. That's great. Then I noticed, you know, 946 00:51:30,720 --> 00:51:34,720 as the weeks and the months went on, I was doing it rather consistently. 947 00:51:34,720 --> 00:51:36,680 And even on my losses, my losses were, 948 00:51:36,680 --> 00:51:40,480 were relatively small because I was only taking 5, 6, 7 pip losses. 949 00:51:40,480 --> 00:51:42,560 Sometimes I would let a hit the 10 pip loss, 950 00:51:42,660 --> 00:51:47,000 but for the most part I was taking relatively small losses. So I'm like, man, 951 00:51:47,000 --> 00:51:50,010 you know, I can do this consistently. 952 00:51:50,010 --> 00:51:54,010 What if I open up another position with that one position I already have opened, 953 00:51:54,170 --> 00:51:58,650 still catch the same move, just add another position trying to maximize on it. 954 00:51:58,740 --> 00:52:01,050 So then I tested it out. So I would have a one position, 955 00:52:01,050 --> 00:52:03,890 I'd have my main position open, then I would open up a smaller one, 956 00:52:03,890 --> 00:52:05,410 like a point 50 or a point 30, 957 00:52:05,550 --> 00:52:08,930 and I would catch 10 pips on both of those positions. 958 00:52:08,980 --> 00:52:13,610 So I was doing like 130 bucks a day or $150 a day. So once I saw that, 959 00:52:13,610 --> 00:52:17,170 I was consistently doing that. I did the same thing for Asian session. 960 00:52:17,460 --> 00:52:21,970 So now my $100 days were turning into $300 days because I was, 961 00:52:22,040 --> 00:52:24,610 I was adding positions catching the same 10 pips, 962 00:52:24,610 --> 00:52:27,970 but just adding an extra position. So once I saw that I could do that, 963 00:52:28,250 --> 00:52:32,610 and as I started raising my lot size where I would go to two lots, 2.5 lots, 964 00:52:32,610 --> 00:52:37,370 three lots. Then I went to 5, 6, 8, and 10 and I said, okay, 965 00:52:37,630 --> 00:52:42,170 now I can, instead of having a $300 day or $500 day, 966 00:52:42,170 --> 00:52:44,970 I can have a thousand dollars day on the same level of risk. 967 00:52:44,970 --> 00:52:49,930 But now my stop loss has to be a little bit more tighter because now I have two 968 00:52:50,170 --> 00:52:53,530 positions open instead of one. So instead of being in the five pip drawdown, 969 00:52:53,530 --> 00:52:56,970 I'm in literally 10 pips drawdown because I have two positions open. 970 00:52:57,260 --> 00:53:01,010 So now my entries had to be much tighter, you know, a little bit much better. 971 00:53:01,220 --> 00:53:05,530 So I kind of tested it out for months because I was scared of, you know, 972 00:53:05,530 --> 00:53:10,210 doing that because it was still a lot of risk. But once I saw, I said, Charlene, 973 00:53:10,350 --> 00:53:12,850 you are consistently catching 10 pips. 974 00:53:13,100 --> 00:53:15,850 If you have the confidence to do that with one position, 975 00:53:16,190 --> 00:53:18,210 you should be able to do it. It's the same thing, 976 00:53:18,210 --> 00:53:20,890 it's the same thing that you're doing. You're not doing anything different, 977 00:53:20,960 --> 00:53:22,530 it's just you're adding another position. 978 00:53:22,820 --> 00:53:24,850 So I kind of took that and now it just has a life. 979 00:53:24,850 --> 00:53:28,760 It's just a part of my trading now. I'm just, I stack, I stack on my positions. 980 00:53:28,760 --> 00:53:33,440 I love it. And I win way more than I lose way, way more than I lose. 981 00:53:33,530 --> 00:53:36,200 If I was losing a lot with it, trust me, I wouldn't be doing it. Trust me, 982 00:53:36,200 --> 00:53:36,720 I wouldn't be doing. 983 00:53:36,720 --> 00:53:39,160 It. Yeah. , it's, yeah cuz it's that, 984 00:53:39,160 --> 00:53:42,640 that's actually really interesting to hear how you got to that point because I 985 00:53:42,640 --> 00:53:46,280 think that's gonna help a lot of people who are sort of thinking about, I mean, 986 00:53:46,280 --> 00:53:48,120 it's a high stakes approach, uh, 987 00:53:48,120 --> 00:53:53,120 to trading and how do they get there is the difficulty. It's like, I mean, 988 00:53:53,120 --> 00:53:55,480 whereas most people would think, oh, you know, you just went from, oh, 989 00:53:55,480 --> 00:53:59,960 I'm trading one lots now I'm gonna bump it up to three and then the way we go 990 00:53:59,960 --> 00:54:00,480 and it's now, 991 00:54:00,480 --> 00:54:04,520 now I'm gonna do tens and and that on a mindset point of view is gonna screw you 992 00:54:04,520 --> 00:54:06,880 over straight away. Right? Oh yeah. Whereas, yeah, I like that. 993 00:54:07,200 --> 00:54:09,680 Multiple positions. Um, what about like, talking about mindset? 994 00:54:09,680 --> 00:54:13,320 Like have you got any sort of special things you do to try and get your mind in 995 00:54:13,320 --> 00:54:15,800 tune before you start trading, that kind of thing? 996 00:54:16,350 --> 00:54:20,440 Well, um, I don't trade. When I'm going through personal things in my life, 997 00:54:20,470 --> 00:54:25,040 I feel like, uh, if you're not able to give the charts a hundred percent, uh, 998 00:54:25,040 --> 00:54:27,360 your undivided attention, you're, 999 00:54:27,360 --> 00:54:32,320 you're already in the negative because it requires that type 1000 00:54:32,320 --> 00:54:36,440 of respect where you have to be locked in. You have to be focused, 1001 00:54:36,440 --> 00:54:39,800 you have to know what you're looking at. You have to stick to your rules, 1002 00:54:39,800 --> 00:54:42,040 stick to your discipline, stick to your trading plan. 1003 00:54:42,100 --> 00:54:43,880 And if you're looking for a setup, you know, 1004 00:54:43,880 --> 00:54:46,080 you might be thinking about what's happening over here, 1005 00:54:46,080 --> 00:54:47,800 what's going on with this, you know, 1006 00:54:47,800 --> 00:54:51,400 family member with your relationship with work or whatever is going on with your 1007 00:54:51,400 --> 00:54:56,040 kids, whatever could be going on, then you're not a hundred percent focused. 1008 00:54:56,220 --> 00:55:00,240 And that can, um, that can fog your, 1009 00:55:01,070 --> 00:55:03,680 your, the clarity that you need to have when you're trading. 1010 00:55:03,680 --> 00:55:07,240 It may make you see something that's not there. It may uh, 1011 00:55:07,240 --> 00:55:10,200 cause you to have a lack of patience because you're anxious, 1012 00:55:10,200 --> 00:55:11,840 you're ready to go do whatever, 1013 00:55:11,840 --> 00:55:14,880 go take care of this and you wanna just get this trade over with and it'll cause 1014 00:55:14,880 --> 00:55:19,800 you to prematurely enter a setup before you pro you should and cause you to 1015 00:55:19,800 --> 00:55:22,560 take unnecessary losses. So I'm big on, um, 1016 00:55:22,560 --> 00:55:26,360 making sure your head is completely clear before you come on the charts and, 1017 00:55:26,900 --> 00:55:30,520 you know, expose your, your account and your psychology to a beating. 1018 00:55:30,520 --> 00:55:34,960 A beating is what it is. You know, being patient, um, being patient, 1019 00:55:34,960 --> 00:55:38,000 waiting on setups, um, sometimes missing your setup. You know, 1020 00:55:38,000 --> 00:55:39,800 sometimes I sit here and I'm watching, 1021 00:55:39,800 --> 00:55:43,040 waiting for my setup to happen and it won't happen the way I want it to happen. 1022 00:55:43,040 --> 00:55:45,120 And when it does happen, I'm missing it. You know? 1023 00:55:45,120 --> 00:55:49,240 So I just sat here for three hours and missed my setup and now I gotta go about 1024 00:55:49,240 --> 00:55:52,800 my day and, you know, had I not been trading if I didn't, you know, 1025 00:55:52,800 --> 00:55:56,680 have this going on, you know, that wouldn't have happened. Yeah. So, yeah, I, 1026 00:55:56,680 --> 00:56:01,240 um, I'm a I'm, I'm very spiritual, so I'm, I meditate a lot. 1027 00:56:01,570 --> 00:56:05,680 Um, I'm very big on prayer, very, very big on self-talk, self-help, 1028 00:56:05,680 --> 00:56:08,400 things like that. So I truly feel like you, 1029 00:56:08,400 --> 00:56:11,600 you gotta have your head on wrapped straight, you know, to be a traitor, 1030 00:56:11,850 --> 00:56:16,720 to sustain being a traitor to, you know, withstand the mental pressure, 1031 00:56:16,720 --> 00:56:19,360 the mental stress that we all go through, you know, 1032 00:56:19,360 --> 00:56:22,920 putting our money on the line every day and having to deal with the, you know, 1033 00:56:22,960 --> 00:56:25,920 you know, the things that we have to deal with. So you, you have to have, 1034 00:56:25,920 --> 00:56:29,840 you know, all your ducks in a row for you to be profitable because if not you, 1035 00:56:29,840 --> 00:56:34,240 it's, it's, it's too hard, it's too hard and I'd rather you not do it . 1036 00:56:34,290 --> 00:56:34,870 So. 1037 00:56:34,870 --> 00:56:37,200 Well, next question is what, what about, um, 1038 00:56:37,200 --> 00:56:41,520 if you had to recommend somebody go away and study or spend the next month 1039 00:56:41,520 --> 00:56:43,080 mastering something, what would it be? 1040 00:56:44,770 --> 00:56:49,720 Um, you know, I'm, I'm a big believer in back testing. Big, 1041 00:56:49,720 --> 00:56:54,680 big believer in back testing because nothing is going to help you master the 1042 00:56:54,680 --> 00:56:58,240 charts more than being on the charts. Cuz you could say, Hey, 1043 00:56:58,240 --> 00:57:00,720 read this book on psychology or, you know, 1044 00:57:00,720 --> 00:57:04,360 go watch this video on this or do that or talk about risk management. 1045 00:57:04,460 --> 00:57:07,360 All those things are very, very important. However, 1046 00:57:08,230 --> 00:57:12,920 none of them are gonna matter if you don't get your butt on those charts and 1047 00:57:12,920 --> 00:57:15,240 back to us the heck out of those charts. 1048 00:57:15,820 --> 00:57:19,680 You have to learn how to market moves. You have to, uh, 1049 00:57:19,680 --> 00:57:24,560 become familiar with sessions and become familiar with market structure. 1050 00:57:24,620 --> 00:57:29,400 All these things are what is going to help you really dive 1051 00:57:29,550 --> 00:57:34,280 into the D N A and the genetics of the four X markets 1052 00:57:34,280 --> 00:57:38,240 because it's a very highly volatile market space. 1053 00:57:38,240 --> 00:57:42,320 You have to have a certain level of knowledge and experience for you to even 1054 00:57:43,360 --> 00:57:47,480 think that you're gonna be profitable in these markets. So everything, 1055 00:57:47,480 --> 00:57:49,520 all those other things, they, they come great, 1056 00:57:49,660 --> 00:57:53,600 but I wouldn't be where I am if I did not dedicate as much time to back testing 1057 00:57:53,600 --> 00:57:57,760 as I did. I was on the charts every day, sometimes all day. And I loved it. 1058 00:57:57,760 --> 00:58:02,480 I loved it. Trading to me learning and studying, it wasn't, uh, daunting. 1059 00:58:02,650 --> 00:58:06,920 It wasn't boring, it wasn't, I enjoyed it. I, I literally enjoyed it. 1060 00:58:06,920 --> 00:58:09,080 I enjoyed every minute, even the things I didn't understand. 1061 00:58:09,110 --> 00:58:11,840 I enjoyed researching and trying to find, you know, 1062 00:58:11,840 --> 00:58:14,960 under and understanding of it. So you have to find the joy in it too. 1063 00:58:14,990 --> 00:58:17,960 Find happiness in doing it because if it's something you really don't want to 1064 00:58:17,960 --> 00:58:20,280 do, you are not gonna be a hundred percent focused. Mm-hmm , 1065 00:58:20,280 --> 00:58:22,800 you're gonna think that I have to do this, let me just get this over with. 1066 00:58:23,380 --> 00:58:24,920 And when you get to the charts, 1067 00:58:24,920 --> 00:58:28,080 you're gonna be as lost as you were when you first started because you're you. 1068 00:58:28,080 --> 00:58:31,440 It's not fun. It has to be fun. You gotta find a passion for it. 1069 00:58:31,440 --> 00:58:35,080 You gotta find a joy in it because if you don't get a rush from it, 1070 00:58:35,080 --> 00:58:35,960 it's not for you. 1071 00:58:35,960 --> 00:58:38,800 Yeah. , I'm sorry, it's gonna be too hard. It's gonna be too hard. 1072 00:58:38,820 --> 00:58:41,400 Now we're gonna, we're gonna wrap up here with some quickfire questions. 1073 00:58:41,400 --> 00:58:42,760 So first one, how long, 1074 00:58:42,760 --> 00:58:45,960 how long did it take you to go from newbie two consistently profitable? 1075 00:58:46,330 --> 00:58:48,360 It took me two and a half years. Two and a half. 1076 00:58:48,360 --> 00:58:50,640 Years. What's your favorite entry set up? 1077 00:58:52,230 --> 00:58:56,340 Uh, break and retest for sure. Definitely break and retest. 1078 00:58:56,770 --> 00:59:00,060 What strategies do you use to X or, or manage your trades? 1079 00:59:01,150 --> 00:59:05,580 Um, the 10 pip stop is usually what it is. One-to-one, 1080 00:59:05,580 --> 00:59:08,220 one to two risk parameters. Um, 1081 00:59:09,040 --> 00:59:12,700 but that's a hard one cuz it depends on this setup because my, 1082 00:59:12,750 --> 00:59:16,540 my trading has definitely evolved, um, now than it was back then. 1083 00:59:16,750 --> 00:59:18,860 So that's typically hard for me. But for the most part, 1084 00:59:18,860 --> 00:59:21,560 because I'm looking to only catch 10 or 20 pips, um, 1085 00:59:21,560 --> 00:59:25,320 just know that I'm not risking any more than that on, on my stop loss, so. 1086 00:59:25,550 --> 00:59:28,840 Okay. And what about, uh, recommended trading book or resource? 1087 00:59:30,020 --> 00:59:31,120 You know, I did not, 1088 00:59:31,120 --> 00:59:35,200 I read one ebook when I started trading and that was the Candlestick Bible. 1089 00:59:35,200 --> 00:59:36,760 That's the only book I've ever read. 1090 00:59:36,760 --> 00:59:38,800 I've heard of other books that some other people have mentioned. 1091 00:59:39,070 --> 00:59:42,040 I've never read them though. Um, so I, 1092 00:59:42,040 --> 00:59:44,400 I can't really recommend any books cause I've never read any. 1093 00:59:44,400 --> 00:59:47,440 The only one is the Candlestick Bible, so that's the only one I can recommend. 1094 00:59:47,840 --> 00:59:50,480 . Okay. What about a preferred broker and trading platform? 1095 00:59:51,490 --> 00:59:55,360 Oh, uh, HECO trade for sure, for sure. Uh, I've been with them since, 1096 00:59:55,500 --> 00:59:59,280 not since I started trading, but very early on in my trading career. 1097 00:59:59,280 --> 01:00:02,760 I've started with them. Uh, and I haven't had issue, I haven't had issues, 1098 01:00:02,760 --> 01:00:05,840 withdrawals, the spreads, you know, how your pair, your, 1099 01:00:05,840 --> 01:00:08,440 your setup freezes or you can't get out of a trade or whatnot. 1100 01:00:08,550 --> 01:00:12,240 I haven't had that issue with them. The customer service is amazing. The, 1101 01:00:12,240 --> 01:00:15,960 when I deposit money with them, it's fast. And when I take out money with them, 1102 01:00:15,960 --> 01:00:18,520 it's fast as well. So that's the most important thing, right? 1103 01:00:18,520 --> 01:00:20,000 You wanna be able to get your money in and out. 1104 01:00:20,090 --> 01:00:22,160 So if you don't have issues there, you're good. 1105 01:00:22,160 --> 01:00:25,240 And they do deposit bonus as well, which is huge in the industry. 1106 01:00:25,530 --> 01:00:27,480 So I definitely recommend HaCo Trade for. 1107 01:00:27,480 --> 01:00:30,600 Sure. Hey folks, ever wonder what broker I use? Well, I use HaCo trade. 1108 01:00:30,600 --> 01:00:33,160 It was a no-brainer because I was looking for a broker with good trading 1109 01:00:33,160 --> 01:00:36,600 conditions and one that wouldn't restrict my leverage. Now by joining HaCo, 1110 01:00:36,600 --> 01:00:40,440 tradeoff also cut down my trading cost significantly with their super low 1111 01:00:40,440 --> 01:00:43,280 commission of just $1 per 100 K. 1112 01:00:43,280 --> 01:00:46,520 You can learn more@hancotrade.com or just click the link of putting the 1113 01:00:46,520 --> 01:00:51,520 description. Okay, and let's have an ad from them right now. Um, what, 1114 01:00:51,520 --> 01:00:53,200 can you walk us through your worst ever trade? 1115 01:00:54,050 --> 01:00:59,000 Oh, wow. Yes. Yes, I can. I'll never forget it. Uh, I had, uh, 1116 01:00:59,000 --> 01:01:02,600 a th I had deposited $30,000 into my account once, 1117 01:01:03,260 --> 01:01:07,560 and I was, at the time I was trading G B P A U D, 1118 01:01:08,170 --> 01:01:12,890 um, which is a, at the time it was a good pair. 1119 01:01:12,910 --> 01:01:14,250 Now I don't like it too much, 1120 01:01:14,710 --> 01:01:18,970 but I was trading it and it had been ranging for weeks, for weeks. 1121 01:01:18,970 --> 01:01:23,530 It was stuck in this giant, like hundred pip range. It would not break. 1122 01:01:23,530 --> 01:01:26,050 And it was at a high and it was failing to make a new high. 1123 01:01:26,050 --> 01:01:30,450 And I was looking for it to just dump, to just dump. And at the time, um, 1124 01:01:30,880 --> 01:01:35,130 I was happy cuz I, that was the biggest account that I'd ever been trading with. 1125 01:01:35,130 --> 01:01:38,050 So I would, of course I over leveraged like it, like I shouldn't have. 1126 01:01:38,390 --> 01:01:42,930 And I threw in three 10 lot positions in the trade. 1127 01:01:43,130 --> 01:01:46,210 And I was looking for the, uh, I'm sorry, not the sell. 1128 01:01:46,210 --> 01:01:49,170 I was looking for the buy because price was already bullish. 1129 01:01:49,170 --> 01:01:52,970 It was holding support and resistance, but overall timeframe was bullish. So, 1130 01:01:52,970 --> 01:01:56,490 hey, I'm looking for price two continue bullish. So I took, um, 1131 01:01:57,620 --> 01:02:02,230 I took buy the support and I opened up three 10 law positions on the trade. 1132 01:02:02,410 --> 01:02:05,710 And I'm scalping, right? So I'm not, I don't really trade with a stop laws. 1133 01:02:05,860 --> 01:02:07,710 I close manually when I'm in my trace. 1134 01:02:08,210 --> 01:02:11,030 And I had no idea that news was coming out. 1135 01:02:11,260 --> 01:02:15,870 Some sort of news came out and I'm in buys 1136 01:02:15,910 --> 01:02:18,430 three, three positions through in buys. 1137 01:02:19,060 --> 01:02:22,680 And it literally just melted. It melted on me. 1138 01:02:22,740 --> 01:02:26,720 And in the time it took me to hit those X buttons to X out of the trade, 1139 01:02:26,950 --> 01:02:28,360 I was down 15 K. 1140 01:02:28,610 --> 01:02:32,480 So I had lost literally half my account on that one trade, 1141 01:02:32,480 --> 01:02:36,240 and I was the worst loss I ever took at the time. It was the worst loss. And, 1142 01:02:36,240 --> 01:02:36,440 um, 1143 01:02:36,440 --> 01:02:40,120 it was around the holidays and I literally like stopped trading for the rest of 1144 01:02:40,120 --> 01:02:42,280 the month. It was like towards the middle of December. 1145 01:02:42,510 --> 01:02:45,120 I didn't trade again till like the middle of January. After that, 1146 01:02:45,120 --> 01:02:48,680 I just stopped. I was like, oh, no. So yeah, that was definitely the worst. 1147 01:02:48,680 --> 01:02:52,160 I never did that again. , I don't even trade ranges anymore. . 1148 01:02:52,160 --> 01:02:55,800 Yeah. But, um, that was definitely the worst, the worst I, I would say thing. 1149 01:02:55,800 --> 01:02:56,480 Okay. . 1150 01:02:56,480 --> 01:02:57,880 Right. Well, look, final question. 1151 01:02:57,880 --> 01:03:00,840 If you could leave our listeners with one piece of advice, what would it be? 1152 01:03:01,820 --> 01:03:04,960 One piece of advice would be, uh, if, if you really want it, 1153 01:03:04,960 --> 01:03:08,320 and this is for you, just don't give up, keep studying. Um, 1154 01:03:08,510 --> 01:03:12,840 keep testing yourself, keep challenging yourself, keep pushing your limits. Uh, 1155 01:03:12,840 --> 01:03:16,520 don't doubt yourself. Don't, don't, uh, project negative things over your life, 1156 01:03:16,520 --> 01:03:20,680 over your training. If one person can do it, anybody can do it. Uh, 1157 01:03:20,680 --> 01:03:24,040 so if you just put in the time and the effort and the dedication, um, 1158 01:03:24,040 --> 01:03:26,480 you will re reap the benefits. So just don't give up, 1159 01:03:26,480 --> 01:03:29,160 do whatever it takes and do not give up because this will be the best 1160 01:03:29,160 --> 01:03:31,640 opportunity, uh, that you've ever, that you've ever seen. 1161 01:03:31,840 --> 01:03:33,680 Brilliant. Well, before we wrap up, 1162 01:03:33,680 --> 01:03:35,280 what's the best way for traders to get a hold of you? 1163 01:03:35,770 --> 01:03:39,920 Oh, wow. I'm huge on Instagram. I'm, I'm, I'm a big deal on Instagram. I, 1164 01:03:39,920 --> 01:03:43,960 I message back everybody. I look at all my dms, Charlene fx, uh, 1165 01:03:43,960 --> 01:03:46,160 a lot of fake pages out there guys. So just, uh, 1166 01:03:46,160 --> 01:03:48,960 don't look at the fakes out there, please. It's Charlene fx, 1167 01:03:48,960 --> 01:03:52,200 just how it's spelled. No underscores, no dots, no extra letters, 1168 01:03:52,200 --> 01:03:54,600 nothing like that. I will never message you first. All right. 1169 01:03:54,700 --> 01:03:59,160 But I'm big on Instagram. I, I, like I said, I I'm always on there. I, I'm big, 1170 01:03:59,160 --> 01:04:01,480 I'm a huge presence on there. I love it on there. 1171 01:04:01,710 --> 01:04:05,240 I enjoy connecting with my followers on there. So if you ever need anything, 1172 01:04:05,340 --> 01:04:08,680 any question, things like that, feel free to message me. Um, and let's, 1173 01:04:08,680 --> 01:04:10,880 let's connect. Let's all connect. This is what it's all about. 1174 01:04:10,880 --> 01:04:14,680 Brilliant. Well look a big thank you to Charlene for sharing with us today. 1175 01:04:14,680 --> 01:04:16,480 Everything we've discussed here, along with, uh, 1176 01:04:16,480 --> 01:04:19,440 links to our Instagram are all in the show notes. Uh, to find them, 1177 01:04:19,440 --> 01:04:22,560 simply search for Charlene in the search box on trading nut.com. 1178 01:04:22,560 --> 01:04:26,720 And until next time, I wish all my traders and listeners happiness and success. 1179 01:04:26,720 --> 01:04:28,960 Alright folks, interview done and dust with Charlene. 1180 01:04:28,960 --> 01:04:32,360 Now do remember we shot a video after the show where she, uh, 1181 01:04:32,360 --> 01:04:37,120 went through a bar replay challenge on a U D U S D, try and find some trades, 1182 01:04:37,120 --> 01:04:37,760 get in, get out. 1183 01:04:37,760 --> 01:04:41,760 You're gonna find out really how she broke down the Qbanks Raja Bank's 1184 01:04:41,760 --> 01:04:46,480 strategies into her own simple, simple strategy. So go and check that out, 1185 01:04:46,610 --> 01:04:49,440 uh, on the YouTube channel. Other things going on here, 1186 01:04:49,600 --> 01:04:52,600 remember there's the Fidel Crest 50 K challenge that links under the video. 1187 01:04:52,690 --> 01:04:55,640 Go and check that out if you're interested. Enter the competition. 1188 01:04:55,780 --> 01:05:00,520 And also we've got the Robot Builders Club offer this February, 2023, 1189 01:05:00,680 --> 01:05:04,520 where you can get access to the bootcamp and the bot that we built with that. 1190 01:05:04,850 --> 01:05:06,360 Uh, this February also, 1191 01:05:06,360 --> 01:05:09,600 do remember we're doing another build in there that you'll get access to, 1192 01:05:09,600 --> 01:05:12,080 which is based on Smart Money concepts, 1193 01:05:12,080 --> 01:05:15,920 sort of part of the Smart Money Concepts concept. Okay? All right, 1194 01:05:15,920 --> 01:05:16,520 enough for me. 1195 01:05:16,520 --> 01:05:20,400 Thanks you for watching and listening and we'll see you in the next one.