1 00:00:00,000 --> 00:00:03,160 This podcast is brought to you by the award-winning prop firm, Fidel CREs. 2 00:00:03,160 --> 00:00:04,840 And it's for entertainment purposes only. 3 00:00:04,900 --> 00:00:09,120 And I was really trying to get over that hurdle of being a breakeven trader 4 00:00:09,120 --> 00:00:12,200 where I was profitable one month, like I was basically, 5 00:00:12,200 --> 00:00:15,040 I was able to get funded, I was able to pass prop firm challenges. 6 00:00:15,070 --> 00:00:17,400 I would get a payout or two and then blow. 7 00:00:17,400 --> 00:00:19,880 And it took me a couple months to get the hang of it. 8 00:00:19,880 --> 00:00:22,120 Like after back testing it for a month, two months, 9 00:00:22,120 --> 00:00:23,840 I started to get pretty good at it. 10 00:00:23,840 --> 00:00:28,600 But I would say about six months into the strategy that I was really starting to 11 00:00:28,600 --> 00:00:30,760 nail it and become consistently profitable. 12 00:00:30,760 --> 00:00:33,400 So after back testing for a couple weeks, 13 00:00:33,400 --> 00:00:37,200 I pretty much knew that this strategy had something going on that I had never 14 00:00:37,200 --> 00:00:37,560 seen before. 15 00:00:37,560 --> 00:00:41,200 I was a drug addict and an alcoholic for basically 10 years of my life. 16 00:00:41,200 --> 00:00:43,200 And now it's been a couple years that I've been sober. 17 00:00:43,820 --> 00:00:48,280 And I've found that there's such a relationship between the type of personal 18 00:00:48,280 --> 00:00:52,880 growth you have to do as somebody who's in recovery compared to somebody who's 19 00:00:52,880 --> 00:00:54,720 trying to become a profitable trade difference. 20 00:00:54,720 --> 00:00:59,520 Between your last paycheck at Amazon and your first payout on the 21 00:00:59,520 --> 00:01:01,000 funded accounts, what was the. 22 00:01:01,000 --> 00:01:04,720 Difference? So at Amazon, I think I was doing around, 23 00:01:05,150 --> 00:01:09,840 I wanna say 3000 a month or a little over 3000, like barely skating by. 24 00:01:09,900 --> 00:01:12,040 And my first payout was almost. 25 00:01:12,040 --> 00:01:16,200 Episode 224. Alright folks, we've got Joe Caruso coming up here on the show. 26 00:01:16,200 --> 00:01:20,520 Now, Joe has got a fantastic trading story for you. Uh, in fact, 27 00:01:20,520 --> 00:01:22,120 he hasn't been trading that long, 28 00:01:22,120 --> 00:01:26,200 but the reason I got him on is because he is Derek Vander, Linda's prodigy. 29 00:01:26,200 --> 00:01:29,840 So this guy has come out of nowhere and is doing better than Derek, 30 00:01:29,840 --> 00:01:31,520 who's been on the show for many years. 31 00:01:31,690 --> 00:01:36,040 It was o only on just recently with this ridiculous 95% win rate. Uh, 32 00:01:36,040 --> 00:01:38,840 Joe's story is gonna resonate with you. Trust me, 33 00:01:38,840 --> 00:01:42,480 there's so many key lessons in here that helped him find success that you are 34 00:01:42,480 --> 00:01:46,440 gonna be able to benefit from as well. And then afterwards we broke down, uh, 35 00:01:46,440 --> 00:01:48,560 Joe's strategy or the strategy they use. 36 00:01:48,780 --> 00:01:52,920 And you also see Myx book proof of not just where we left them off, 37 00:01:52,920 --> 00:01:57,280 but also updated till now, I think it's like almost 11 months worth of proof. 38 00:01:57,610 --> 00:02:01,480 Uh, of their 95% win rate is still at 95%. 39 00:02:01,480 --> 00:02:05,080 So you're gonna get to see that in the video. Do remember, hit subscribe, like, 40 00:02:05,080 --> 00:02:06,360 and click on that notifications. 41 00:02:06,360 --> 00:02:11,320 Be able to and select all to be notified when that one drops. Alright folks, 42 00:02:11,370 --> 00:02:13,200 um, one more thing before we get into it. 43 00:02:13,200 --> 00:02:17,400 We've got something hitting the telegram channel here on trading now. 44 00:02:17,400 --> 00:02:19,800 So if you're not in there, jump in there. Now. 45 00:02:19,920 --> 00:02:24,120 Something big is coming your way on the trading, uh, show. 46 00:02:24,130 --> 00:02:27,440 So please stay tuned for that. Head over to Telegram, 47 00:02:27,440 --> 00:02:30,120 get yourself signed up so you don't miss it. Right? 48 00:02:30,120 --> 00:02:32,200 Let's hear from my sponsor and then get on with the show. 49 00:02:32,360 --> 00:02:35,840 Llcrt is an award-winning pro firm that funds traders with up to $2 million and 50 00:02:35,840 --> 00:02:38,080 offers generous profit splits up to 90%. 51 00:02:38,080 --> 00:02:41,840 So one thing that really sets Fidel Cret apart is their no minimum trading days 52 00:02:41,840 --> 00:02:45,360 requirement on their challenge and verification stages. On top of that, 53 00:02:45,360 --> 00:02:48,480 traders who successfully passed the challenge and verification stages are 54 00:02:48,760 --> 00:02:52,720 eligible to receive a bonus payout of up to 30 K on top of their funded stage 55 00:02:52,720 --> 00:02:54,600 profit split payout on performance. 56 00:02:54,600 --> 00:02:59,320 And be sure to use promo code trading that all One word to get 10% off your next 57 00:02:59,320 --> 00:02:59,760 challenge. 58 00:02:59,760 --> 00:03:02,880 Click the link in the description below or the card above to find out more. 59 00:03:02,880 --> 00:03:04,200 Alright folks, here we are in trading out. 60 00:03:04,200 --> 00:03:08,200 We've got Joe Caruso in the house all the way over there in Pennsylvania. Now, 61 00:03:08,200 --> 00:03:13,200 Joe is the, uh, I suppose the prodigy of Derek Vanillin, 62 00:03:13,200 --> 00:03:14,720 who we've had on the show a number of times, 63 00:03:14,720 --> 00:03:18,160 and you would've seen his interview was recent interview, 64 00:03:18,450 --> 00:03:21,800 or should I say charting, uh, work just recently. 65 00:03:21,800 --> 00:03:24,840 And I know these guys have been absolutely killing it, uh, 66 00:03:24,840 --> 00:03:28,200 this year and last year. So welcome to the show, Joe. 67 00:03:29,190 --> 00:03:31,350 Thank you. It's a pleasure to be here. You know, 68 00:03:31,350 --> 00:03:34,670 especially being somebody who was a fan and seen so many, you know, 69 00:03:34,670 --> 00:03:39,310 over the years, I was definitely like aspiring to get to this point and then, 70 00:03:39,330 --> 00:03:41,870 you know, fast forward two years and here I am. 71 00:03:42,340 --> 00:03:43,110 Yeah, no, 72 00:03:43,110 --> 00:03:47,190 I th I think Derek actually said in his interview or it wasn't really an 73 00:03:47,190 --> 00:03:47,390 interview, 74 00:03:47,390 --> 00:03:51,150 we're doing some charting and he actually said that you are better than him 75 00:03:51,590 --> 00:03:54,270 in terms of how the approach, so that, 76 00:03:54,270 --> 00:03:57,110 that that's something to be said given the fact that he's been doing it for for 77 00:03:57,110 --> 00:04:00,830 so long. So, uh, let's start off by hearing your story. 78 00:04:00,830 --> 00:04:05,670 How did you get into trading and uh, how's it, how's the journey been so far? 79 00:04:06,720 --> 00:04:07,210 Yeah, 80 00:04:07,210 --> 00:04:11,690 so I knew nothing about trading whatsoever before the whole Covid pandemic. 81 00:04:12,540 --> 00:04:13,020 Um, 82 00:04:13,020 --> 00:04:17,130 so really covid happened and then my brother got into stock trading and kind of 83 00:04:17,130 --> 00:04:20,490 told me about it and I messed around with stocks a little bit, uh, 84 00:04:20,490 --> 00:04:21,730 made a little bit of money doing that, 85 00:04:21,730 --> 00:04:23,930 a couple thousand not even knowing what I was doing, 86 00:04:23,930 --> 00:04:27,650 just buying stuff because it was down 80% and then selling it when it went up. 87 00:04:28,220 --> 00:04:31,930 Um, but that type of stuff doesn't really replicate itself on a weekly basis. 88 00:04:32,380 --> 00:04:34,690 So I found that it was a very slow process. 89 00:04:35,310 --> 00:04:39,850 And then I came across I M L or I am Mastery Academy, 90 00:04:40,090 --> 00:04:44,250 it's called now through like, uh, yeah, multi-level marketing. 91 00:04:44,250 --> 00:04:48,850 And I didn't really enjoy that too much. It kind of introduced me to trading. 92 00:04:49,420 --> 00:04:53,890 It definitely opened the door and I learned initially binary options, 93 00:04:53,890 --> 00:04:58,650 but it's very hard to be profitable with binary options I found because the risk 94 00:04:58,650 --> 00:05:03,170 to reward factor kind of isn't there. You have to win with 70, 95 00:05:03,170 --> 00:05:07,650 80%, even better sometimes accuracy to make money. 96 00:05:08,230 --> 00:05:13,170 And then from that I started to watch podcasts and dive deeper more into 97 00:05:13,170 --> 00:05:16,440 the traditional fourex market and people that were doing it. 98 00:05:16,440 --> 00:05:20,560 I came across your podcast and I started following people like Lambeau, 99 00:05:20,560 --> 00:05:25,160 Raul Qbank and some of those other popular, you know, 100 00:05:25,160 --> 00:05:29,640 Instagram traders. From there it was, uh, 101 00:05:29,970 --> 00:05:31,720 so I started messing around. 102 00:05:31,720 --> 00:05:35,320 I wasn't a a student of anybody's mentorship or anything like that. 103 00:05:35,320 --> 00:05:38,440 I was really just doing my own thing, picking up little pieces from here, 104 00:05:38,760 --> 00:05:40,480 learning support and resistance from one person, 105 00:05:41,400 --> 00:05:43,400 learning a couple indicators from another person. 106 00:05:44,100 --> 00:05:48,360 And it wasn't until FX Summit of last year that I had met Derek. 107 00:05:49,340 --> 00:05:50,530 So going into that, 108 00:05:50,560 --> 00:05:54,410 I just wanted to grow as a trader because I was pretty much at the breakeven 109 00:05:54,410 --> 00:05:57,050 stage of trading, you know, going into FX summit. I went, 110 00:05:57,120 --> 00:06:00,400 went in with an open mind with the intention of I'm gonna try to learn, 111 00:06:00,620 --> 00:06:03,880 you know, just keep an open mind, learn from whoever's speaking, 112 00:06:04,100 --> 00:06:05,680 try to meet like-minded people. 113 00:06:06,260 --> 00:06:10,480 And I was really trying to get over that hurdle of being a breakeven trader 114 00:06:10,480 --> 00:06:13,960 where I was profitable one month. Like I was basically, 115 00:06:13,960 --> 00:06:17,040 I was able to get funded, I was able to pass prop firm challenges. 116 00:06:17,190 --> 00:06:20,120 I would get a payout or two and then blow it. 117 00:06:20,230 --> 00:06:24,160 I was able to trade good for a month and a half and then, you know, 118 00:06:24,160 --> 00:06:24,960 mess things up. 119 00:06:24,960 --> 00:06:29,320 So I was really trying to find what I was missing or what I could add to 120 00:06:29,510 --> 00:06:32,440 pretty much bridge the gap to pro, uh, profitability. 121 00:06:32,820 --> 00:06:37,640 And that that was all trading us 30 right in your scalp? Yeah, yeah, yeah. 122 00:06:37,640 --> 00:06:38,000 Yeah. 123 00:06:38,000 --> 00:06:41,960 Like I followed people like Q Banks and people that were trading just indices 124 00:06:42,060 --> 00:06:44,120 and it was very fast-paced. You know, 125 00:06:44,120 --> 00:06:48,040 it's not really the best thing to get introduced to right off the bat because 126 00:06:48,040 --> 00:06:50,640 then you're always expecting that fast money. Mm-hmm. 127 00:06:50,680 --> 00:06:53,360 And what, what timeframe were you sort of mainly scalping on? 128 00:06:53,360 --> 00:06:54,480 Was it very low? 129 00:06:55,290 --> 00:06:59,280 It was mostly between the one hour and the five minute. Okay. 130 00:06:59,280 --> 00:07:03,320 So I was using one hour for zones and then five minute pretty much for entry. 131 00:07:03,900 --> 00:07:08,000 But I was trading very support and resistance based and not many other 132 00:07:08,000 --> 00:07:09,840 confluences to go with it. So, you know, 133 00:07:09,840 --> 00:07:13,680 my win rate wasn't usually better than like 50 60%. Yeah. 134 00:07:13,710 --> 00:07:16,320 Okay. And, and so, so on the ethics summit, 135 00:07:16,320 --> 00:07:19,600 funnily enough I got invited to go along to that, but it was, we were, 136 00:07:19,600 --> 00:07:22,120 we couldn't get outta the country at the time. Uh, 137 00:07:22,120 --> 00:07:25,880 that obviously was a game changer for you. And I mean, 138 00:07:25,880 --> 00:07:28,680 how did you manage to meet Derek and, and hit it off with him? 139 00:07:28,680 --> 00:07:30,920 What was the sort of, what was the genesis there? 140 00:07:31,780 --> 00:07:35,150 Yeah, so I encourage everybody to go to it, especially like this year. 141 00:07:35,150 --> 00:07:38,910 If you didn't go last year, go to it because it can be a life changing event. 142 00:07:39,220 --> 00:07:43,950 Like if I look at how events changed in my life, I went to FX Summit. Um, 143 00:07:43,950 --> 00:07:47,470 it's actually really funny because Derek almost didn't go to FX Summit. 144 00:07:47,470 --> 00:07:50,470 I know there was some stuff going on in his life and he almost didn't end up 145 00:07:50,470 --> 00:07:53,590 going at all. Um, but it was just the way, 146 00:07:53,590 --> 00:07:56,550 it was almost like divine intervention. Um, I went there, 147 00:07:56,960 --> 00:08:00,590 so when they have the expo where everybody is just at their own booth 148 00:08:00,590 --> 00:08:03,910 representing their company, you could just go up and talk to whoever you want. 149 00:08:04,420 --> 00:08:07,630 I saw there was big crowds of people by some of the bigger guys. 150 00:08:07,630 --> 00:08:10,910 And then I saw Derek didn't always have a big crowd of people, so I went over, 151 00:08:10,910 --> 00:08:14,390 you know, saw who he was, what's he about? Um, you know, 152 00:08:14,390 --> 00:08:16,710 he told me he had that free YouTube course. This was like, 153 00:08:16,710 --> 00:08:19,750 I think he had just made that YouTube course that's out, 154 00:08:19,750 --> 00:08:24,350 that 25 video course that's free, which is, I recommend that for anybody that, 155 00:08:24,350 --> 00:08:25,270 that was like amazing. 156 00:08:25,370 --> 00:08:28,790 And from the night that I had met him at FX Summit that night, 157 00:08:28,790 --> 00:08:31,950 I was already watching the videos. I was back testing. 158 00:08:31,950 --> 00:08:33,790 I think it was a Saturday too when I, 159 00:08:33,970 --> 00:08:37,430 but I just remember like from that point on for like three solid months, 160 00:08:37,500 --> 00:08:38,990 I was back testing, 161 00:08:39,830 --> 00:08:43,590 watching his videos and messaging him with all these questions about the 162 00:08:43,830 --> 00:08:45,470 strategy. And he was actually getting back to me. 163 00:08:45,720 --> 00:08:50,070 So we were like working already at that point a little bit rather closely 164 00:08:50,070 --> 00:08:52,030 because I was constantly in touch with him. 165 00:08:53,470 --> 00:08:56,480 And so, so when, um, when did things click? 166 00:08:56,850 --> 00:09:01,000 So you were obviously learning the strategy at some point, you know, 167 00:09:01,110 --> 00:09:04,600 things you, you would've, I I guess had a good grasp of it. 168 00:09:04,640 --> 00:09:06,840 Derek answered enough of your questions. 169 00:09:07,910 --> 00:09:11,410 How did the first faray into it go? I mean, what were the, what, 170 00:09:11,410 --> 00:09:13,010 what was your first experience? 171 00:09:14,530 --> 00:09:17,640 So our, after back testing for a couple weeks, 172 00:09:17,670 --> 00:09:21,640 I pretty much knew that this strategy had something going on that I had never 173 00:09:21,640 --> 00:09:25,400 seen before. Now as somebody who's only been in the market for, you know, two, 174 00:09:25,400 --> 00:09:28,320 maybe three years at this point, maybe that's not saying a whole lot, 175 00:09:28,660 --> 00:09:30,520 but it definitely stood out. 176 00:09:30,520 --> 00:09:35,480 And I was very quick to see how this strategy was very 177 00:09:35,480 --> 00:09:36,360 set in stone. 178 00:09:36,360 --> 00:09:40,560 Like I hadn't really come across anybody or any strategy that had such a 179 00:09:40,560 --> 00:09:43,960 defined, you know, list of confluences for entry, 180 00:09:44,450 --> 00:09:48,920 an exact point of when you move your stop to break even an exact 181 00:09:49,030 --> 00:09:52,040 rule for where's your first area of take partials, 182 00:09:52,210 --> 00:09:56,080 where's your take profit gonna be when you have to get out early if certain 183 00:09:56,080 --> 00:09:59,760 things are going against you. It was so clear cut and defined. 184 00:09:59,820 --> 00:10:04,480 And that was really what I was missing was that disciplined set of rules 185 00:10:04,500 --> 00:10:08,400 for entry break, even partials take profit. 186 00:10:08,400 --> 00:10:12,880 Like everything was so clearly defined. And that was really the, 187 00:10:13,060 --> 00:10:14,640 the main thing that stood out to me. 188 00:10:14,640 --> 00:10:17,320 And it took me a couple months to get the hang of it. 189 00:10:17,320 --> 00:10:19,680 Like after back testing it for a month, two months, 190 00:10:19,680 --> 00:10:21,840 I started to get pretty good at it. 191 00:10:21,940 --> 00:10:26,600 But I would say about six months in to the strategy that I was really 192 00:10:26,600 --> 00:10:29,600 starting to nail it and become consistently profitable. 193 00:10:30,070 --> 00:10:34,040 Okay. Okay. And so it, it is interesting to get that, um, 194 00:10:34,180 --> 00:10:39,080 combination cuz it is a, it's a, it's a high win rate, high reward, 195 00:10:39,200 --> 00:10:42,960 which is it shouldn't, it shouldn't exist, right? It should not exist. 196 00:10:43,280 --> 00:10:47,400 with mechanical, in and out, partials, all that sort of stuff, 197 00:10:47,880 --> 00:10:52,480 rules. So it is, it is a phenomenon. I in the whole like trading world, 198 00:10:52,480 --> 00:10:55,120 I mean you don't get that very often. Uh, 199 00:10:55,710 --> 00:10:59,800 I mean what were some of the things that you struggled with at the beginning in 200 00:10:59,800 --> 00:11:02,160 that fi first six months when it just, you know, 201 00:11:02,500 --> 00:11:05,400 for whatever reason it wasn't working and how did you overcome those? 202 00:11:06,680 --> 00:11:10,870 So it was really a matter of I was taking a little too many, 203 00:11:10,870 --> 00:11:14,590 I was taking too many trades early on. I was taking everything that looked good. 204 00:11:14,640 --> 00:11:18,830 So the four hour timeframe is the main timeframe that Derek uses and I pretty 205 00:11:18,830 --> 00:11:22,550 much adapted that as well. I was coming off of more of a scalping, 206 00:11:22,580 --> 00:11:27,390 intraday trading and converting or slowly progressing I would 207 00:11:27,390 --> 00:11:29,190 say to more of a swing trading style. 208 00:11:29,760 --> 00:11:34,270 So that in itself took me a while to get used to actually being in trades for 209 00:11:34,270 --> 00:11:38,230 more than just, you know, a couple hours holding trades for a couple days. 210 00:11:38,770 --> 00:11:40,790 And of course the trading psychology, 211 00:11:40,900 --> 00:11:45,190 I feel like it's very hard to be profitable in your first year of trading just 212 00:11:45,190 --> 00:11:49,550 because of the psychological lessons that you have to learn as far as, you know, 213 00:11:49,550 --> 00:11:51,110 the over-leveraging and you know, 214 00:11:51,110 --> 00:11:55,120 there is no a hundred percent trade that you know is gonna work out that you can 215 00:11:55,120 --> 00:11:58,280 risk extra on. So it was, 216 00:11:58,280 --> 00:12:03,000 it was about my second two years or two and a half years since I started my 217 00:12:03,000 --> 00:12:07,840 journey where everything started to click six months of learning and practicing 218 00:12:07,840 --> 00:12:12,040 that new strategy of Derek's, um, that I really started to implement. 219 00:12:12,040 --> 00:12:15,680 And I started to be able to weed out the trades that would just end up being 220 00:12:15,680 --> 00:12:20,040 breakeven because having a 90% win rate or sometimes even higher, 221 00:12:20,630 --> 00:12:23,160 a lot of, there's still some breakevens in there, you know, 222 00:12:23,160 --> 00:12:27,440 that still close out as you know, they close out maybe five, 10 pips in profit. 223 00:12:27,440 --> 00:12:28,760 It's basically a breakeven. 224 00:12:28,860 --> 00:12:33,440 But I started to learn how to even weed out some of those unnecessary trades 225 00:12:33,440 --> 00:12:38,200 that if there's something going against uh, the trade on the higher timeframe, 226 00:12:38,670 --> 00:12:41,720 most of the time those trades don't always work out. They'll go 40, 227 00:12:41,720 --> 00:12:44,740 50 pips and then it comes back to breakeven. So. 228 00:12:44,840 --> 00:12:47,380 And what would you be seeing on like a higher timeframe that would, 229 00:12:47,380 --> 00:12:49,060 would stop you from taking a trade? 230 00:12:50,430 --> 00:12:53,130 So like a moving average going uh, 231 00:12:53,330 --> 00:12:56,090 like a moving average going against me or if, 232 00:12:56,700 --> 00:13:01,050 so if I'm taking a shark fin on a four hour and then I hop onto a daily 233 00:13:01,050 --> 00:13:01,610 timeframe, sorry. 234 00:13:01,610 --> 00:13:02,010 Frame in there, 235 00:13:02,010 --> 00:13:05,370 do you wanna just let the guy guys know what a shark fin is if they've missed 236 00:13:05,370 --> 00:13:06,370 the prior episodes? 237 00:13:07,080 --> 00:13:09,170 Yeah, of course. So a shark fin, 238 00:13:09,170 --> 00:13:14,130 we use the t d I indicator for and it's essentially when 239 00:13:14,130 --> 00:13:19,050 the RSI is either above the 75 or below the 25 240 00:13:19,750 --> 00:13:24,410 and it comes out of the Bollinger Band that's on the T D I and it essentially 241 00:13:24,410 --> 00:13:28,410 makes a shark fin mm-hmm. The exact same shape of a shark fin. 242 00:13:28,410 --> 00:13:31,610 So it's pretty easy to identify if you have it in front of you, 243 00:13:31,990 --> 00:13:35,930 but it's in a sense it's a form of oversold overbought, 244 00:13:35,980 --> 00:13:38,010 extreme oversold, extreme overbought. 245 00:13:38,160 --> 00:13:42,050 Okay. So, so yeah, so back to the, uh, so I think people have got it now. 246 00:13:42,050 --> 00:13:46,530 So back to the, uh, the higher timeframe giving you an out. So you don't wanna, 247 00:13:46,530 --> 00:13:47,730 you wanna filter out that trade. 248 00:13:47,740 --> 00:13:52,170 So you were saying you if you see a sharkfin on the four hour, was it or? 249 00:13:52,170 --> 00:13:56,370 Yeah, like if I'm entering on a four hour based on a shark fin at an area of 250 00:13:56,370 --> 00:14:01,370 confluence and I go on the daily and there's an area of structure that I see 251 00:14:01,370 --> 00:14:05,970 on the daily or drawing a trend line, that's pretty much in the way of my trade. 252 00:14:06,260 --> 00:14:09,450 Ah, you know, things like that that I didn't really notice early on. 253 00:14:09,450 --> 00:14:13,610 Cuz early on I would stay on the four hour when I saw a shark fin hit a moving 254 00:14:13,610 --> 00:14:17,570 average, either the 50, the 200 or the 800, 255 00:14:17,600 --> 00:14:21,490 I was pretty much jumping in. I was taking like every shark fin that I saw. 256 00:14:21,490 --> 00:14:26,330 And it's unbelievable that most of them actually play out even if there's not a 257 00:14:26,330 --> 00:14:30,730 whole lot of confluence. But the ones that do have several things lining up, 258 00:14:30,960 --> 00:14:34,290 I mean those are the ones that really run for a couple hundred pips. 259 00:14:36,270 --> 00:14:39,090 All right folks, I'm here at Blackpool Markets headquarters in Auckland, 260 00:14:39,090 --> 00:14:39,370 New Zealand. 261 00:14:39,370 --> 00:14:42,490 You can see this amazing view behind me of Auckland Harbor now talking about 262 00:14:42,490 --> 00:14:45,570 views. If you do want to get free trading view Pro, then you, 263 00:14:45,570 --> 00:14:48,610 all you need to do is trade one lot a month at Blackpool Markets and they're 264 00:14:48,610 --> 00:14:50,890 gonna give you a free trading view pro. So folks, to. 265 00:14:50,890 --> 00:14:53,800 Find out more, click the link in the description below or the card above. 266 00:14:56,300 --> 00:14:59,040 And it's funny cuz like, I mean I know trend lines was the, 267 00:14:59,040 --> 00:15:01,840 the thing that Derek reached out to me about just recently saying, Hey look, 268 00:15:01,840 --> 00:15:06,280 I wanna show people how I do these trend lines. Uh, and I mean I, 269 00:15:06,280 --> 00:15:11,200 I've had, and we said that in in his show, so many guests come on and you know, 270 00:15:11,200 --> 00:15:14,280 say, oh you know, trend lines don't work. That kind of thing, . 271 00:15:14,300 --> 00:15:18,080 But the reality is, I mean I use trend lines and, and mm-hmm , 272 00:15:18,080 --> 00:15:22,080 they work fine, they work really good in fact. And , I mean, what, 273 00:15:22,080 --> 00:15:24,840 what's, what sort of, I mean how much, 274 00:15:24,840 --> 00:15:27,880 if you had to give a sort of percentage weighting on, you know, the, 275 00:15:27,880 --> 00:15:32,400 the likes of using an indicator sharkfin pattern with a trend line, 276 00:15:32,400 --> 00:15:35,640 what would you say are more powerful for you to, 277 00:15:35,640 --> 00:15:38,640 to look at the trend line or the indicator or price action? 278 00:15:40,540 --> 00:15:44,710 I would say I love the combination of all of own's funny thing cuz that's really 279 00:15:44,710 --> 00:15:47,870 what makes the best trade is when you have all of those line up, 280 00:15:48,580 --> 00:15:53,470 I would put price action as probably the most 281 00:15:53,470 --> 00:15:58,430 important and then the t d i being the second and then I would say 282 00:15:58,660 --> 00:16:02,670 moving averages and trend lines following that. And then, you know, 283 00:16:02,670 --> 00:16:04,150 Fibonacci extension, 284 00:16:04,150 --> 00:16:08,970 that's a retracement that's kind of like the last area of confluence that 285 00:16:08,970 --> 00:16:13,890 I'll look to, but I won't specifically trade off of a fib uh, retracement level. 286 00:16:14,030 --> 00:16:18,650 But I will trade off of a shark fin at a 200 moving average 287 00:16:18,700 --> 00:16:20,130 at an area of resistance. 288 00:16:20,510 --> 00:16:22,770 And if there's a trend line in there that's even better. 289 00:16:23,020 --> 00:16:28,010 So we really look to merge as many confluences together and I 290 00:16:28,010 --> 00:16:32,490 think for that reason that's what makes the strategy and those trades have such 291 00:16:32,490 --> 00:16:35,010 high win rate is you're getting, you know, 292 00:16:35,010 --> 00:16:38,680 four or five different confluences maybe, you know, 293 00:16:38,680 --> 00:16:42,880 you're using moving averages, trend lines, support, resistance, 294 00:16:43,810 --> 00:16:46,520 uh, Fibonacci retracement, T D I, 295 00:16:46,520 --> 00:16:50,840 and then we also use the multiple timeframes like on a four hour we'll always 296 00:16:50,840 --> 00:16:53,960 check what the daily looks like and what the weekly looks like. 297 00:16:55,620 --> 00:16:59,830 Okay. And so what were the things in that first six months that uh, that, 298 00:16:59,830 --> 00:17:01,910 I mean you said looking at the high timeframes was one of them. 299 00:17:01,910 --> 00:17:02,743 Were there anything, 300 00:17:02,810 --> 00:17:05,950 was there anything else that you sort of saw with some of the losses you may 301 00:17:05,950 --> 00:17:09,970 have taken that you were like, I could have avoided that because of X, Y, Z? 302 00:17:11,250 --> 00:17:12,340 Yeah, it was, 303 00:17:12,690 --> 00:17:16,860 I say the most important thing was definitely the timeframe correlation 304 00:17:17,270 --> 00:17:21,580 because I was able to spot when things looked good on, you know, 305 00:17:21,580 --> 00:17:25,820 to be able to notice if something is very oversold at resistance with the moving 306 00:17:25,820 --> 00:17:29,940 average there, like to be able to merge all that together wasn't too hard. 307 00:17:30,390 --> 00:17:34,100 It was more of, you know, if the daily looks di something d you know, 308 00:17:34,100 --> 00:17:37,540 if it looks bearish on the daily and I'm looking to buy on the four hour, 309 00:17:37,880 --> 00:17:42,780 how it doesn't necessarily mesh together or if the weekly is very bearish, 310 00:17:42,780 --> 00:17:46,380 then I'm looking to buy on the four hour and realizing like that why is this 311 00:17:46,380 --> 00:17:48,260 going against me? And then, you know, 312 00:17:48,260 --> 00:17:51,960 I'd lose a trade look at the weekly or the daily and say, you know, 313 00:17:51,960 --> 00:17:55,560 there was a hidden divergence off the 50 moving average going against me and 314 00:17:55,560 --> 00:17:59,760 here I was buying this little move that went 30 40 pips, 315 00:17:59,760 --> 00:18:04,160 meanwhile it was in the middle of a 300 pip swing going against me. 316 00:18:04,360 --> 00:18:06,000 Right. Yeah. Okay. 317 00:18:06,000 --> 00:18:10,760 So it's really getting that grasp on how the higher timeframe or another 318 00:18:10,760 --> 00:18:15,760 timeframe is affecting your current timeframes trade, which is key. 319 00:18:15,760 --> 00:18:18,000 Yes. And probably one of the more difficult things to, 320 00:18:18,610 --> 00:18:21,480 to get over a psychologically, 321 00:18:21,660 --> 00:18:23,760 cuz you've gotta psychologically tell yourself, 322 00:18:23,760 --> 00:18:26,200 I've gotta check all the timeframes, I can't let any, uh, 323 00:18:26,200 --> 00:18:29,720 leave out any stone unturned and b uh, 324 00:18:29,720 --> 00:18:33,880 understand how it sort of works in correlation to the timeframe you're on, 325 00:18:34,160 --> 00:18:38,600 which is another thing that I think people kind of struggle with a bit. 326 00:18:39,010 --> 00:18:41,680 Uh, now what about like, uh, 327 00:18:41,810 --> 00:18:45,440 if you had to sort of compare stats with that six month period where you were 328 00:18:45,440 --> 00:18:47,440 getting from, you know, starting to, 329 00:18:47,850 --> 00:18:52,840 to doing well to the six months or six months plus onwards 330 00:18:53,150 --> 00:18:55,360 when you actually had crack. I mean, what do they, 331 00:18:55,360 --> 00:18:58,040 what do your stats look like if you had to break it down into like one 332 00:18:58,040 --> 00:19:02,680 percentages, um, average risk reward trades per week, that kind of thing? 333 00:19:03,760 --> 00:19:06,990 So I had a free signal group that I was running from, 334 00:19:07,380 --> 00:19:10,790 I believe it was August or September, up until December. 335 00:19:10,850 --> 00:19:14,870 Now this was before I was working with Derek with Trader Society Academy 336 00:19:15,490 --> 00:19:20,430 and in that group I had about roughly an 80% win rate on the 337 00:19:20,430 --> 00:19:21,263 trades I was calling. 338 00:19:22,040 --> 00:19:26,820 Average Riska award was probably about a one to three. Um, 339 00:19:26,820 --> 00:19:30,820 but then I noticed since me and Derek have started doing Trader Society Academy, 340 00:19:31,260 --> 00:19:35,180 which has been since like the beginning of December, so the last three months, 341 00:19:35,950 --> 00:19:40,860 um, both of our win rates is between 90, 95% pretty much. 342 00:19:41,890 --> 00:19:44,780 I mean 80% and one to three is still pretty good. Right? 343 00:19:45,040 --> 00:19:47,620 You can't complain about that. That, that is is awesome. 344 00:19:47,620 --> 00:19:52,260 But I suppose the combined nature of both of you looking at at 345 00:19:52,260 --> 00:19:55,820 trades is, is just a, a force force that you can't be, you know, 346 00:19:55,820 --> 00:19:58,620 you can't be beaten. Um, okay. And what, 347 00:19:58,620 --> 00:20:01,220 and that's the risk to reward on that one. Did, did you say. 348 00:20:02,670 --> 00:20:06,880 It's still about a one to three on average? Because it really depends on, 349 00:20:07,560 --> 00:20:08,930 when I take partials, 350 00:20:08,930 --> 00:20:13,770 I usually take a third off out of the first area of Confluence going against 351 00:20:13,770 --> 00:20:14,550 me, 352 00:20:14,550 --> 00:20:19,250 and then I'll usually take my second partials or most of the trade off 353 00:20:19,820 --> 00:20:24,170 at the take profit. But there are times I will leave a runner, you know, 354 00:20:24,170 --> 00:20:26,410 for like, even an extra bit. Like if the, 355 00:20:26,410 --> 00:20:30,050 if I'm going with a higher timeframe on trades like that, 356 00:20:30,050 --> 00:20:34,970 sometimes I'll even hold past the original take profit and hold like a 357 00:20:34,970 --> 00:20:35,803 little bit of a runner. 358 00:20:35,990 --> 00:20:40,170 But at that point it's all risk free because we always move our stop loss to 359 00:20:40,170 --> 00:20:41,850 break even after a certain point. 360 00:20:42,620 --> 00:20:47,010 So most of these trades become risk free relatively, uh, quick. 361 00:20:47,310 --> 00:20:50,400 Mm-hmm. . And so that, that that runner, I mean, 362 00:20:50,400 --> 00:20:52,360 what percent would you le leave on a runner? 363 00:20:52,360 --> 00:20:56,680 So if you're taking a third off at the start bulk off for this TP level, 364 00:20:57,270 --> 00:20:59,840 what's the runner percentage on average? 365 00:21:00,790 --> 00:21:02,800 I usually do a third, a third and a third. 366 00:21:02,990 --> 00:21:06,960 Okay. Right. So it is a, it is a good, a good chunk. Right. Okay. But you, 367 00:21:06,980 --> 00:21:09,320 but if that runner comes back and gets stopped out, 368 00:21:09,320 --> 00:21:13,560 you've trailed the stops higher than obviously breakeven or you're gonna get 369 00:21:13,560 --> 00:21:17,160 some money or is it gonna, the runner's either, either gonna run or not? 370 00:21:18,010 --> 00:21:21,820 I'll still cover make sure the swap is covered. Um, like the, 371 00:21:21,920 --> 00:21:25,660 the spread the commission. So I'll still put it like, you know, 10, 20, 372 00:21:26,170 --> 00:21:27,700 even 30 pips. Mm-hmm. 373 00:21:27,700 --> 00:21:31,380 But I don't really trail it like 50 pips or anything major like that. 374 00:21:31,450 --> 00:21:35,860 Yeah. Okay. Okay, cool. Um, now what about, uh, 375 00:21:36,450 --> 00:21:39,300 like things, you know, were you trading every day, uh, 376 00:21:39,300 --> 00:21:43,560 what instruments have they changed at all? So from the six months that you were, 377 00:21:43,560 --> 00:21:47,240 you know, getting better and then to the six, you know, going forward now? 378 00:21:48,350 --> 00:21:53,080 Yeah, so previously I was definitely very heavy on US 30 just because that was, 379 00:21:53,290 --> 00:21:57,480 uh, what I had known for a solid year, year and a half almost. 380 00:21:57,480 --> 00:22:02,040 Most of my trading in this trading FX was very heavy on 381 00:22:02,040 --> 00:22:06,440 indices. Um, where now it's completely mixed. You know, 382 00:22:06,440 --> 00:22:10,400 we look at every single pair, the three major US indices, 383 00:22:10,400 --> 00:22:14,200 we look at the Dax silver gold. But the thing is, 384 00:22:14,200 --> 00:22:17,320 because these trades are so particular and so, 385 00:22:17,410 --> 00:22:20,440 so many things have to line up in order for a trade to be valid, 386 00:22:21,080 --> 00:22:23,280 we're still searching. If we add them all up, 387 00:22:23,280 --> 00:22:27,040 it's probably 35 or 40 instruments with all the pairs, all the indices, 388 00:22:27,040 --> 00:22:31,400 commodities, and there's still days that there's no trade that lines up, 389 00:22:31,820 --> 00:22:36,650 you know? So it's a very, things have to align a very certain way, 390 00:22:36,830 --> 00:22:41,570 but I think I've become more patient over time because now I have the stats 391 00:22:41,570 --> 00:22:44,930 that prove it's, I get paid to wait. Mm. You know, it's not, 392 00:22:44,930 --> 00:22:48,410 it just doesn't pay to cut my win rate down and take all the trades that like 393 00:22:48,440 --> 00:22:50,730 look okay. That are kind of iffy. 394 00:22:52,120 --> 00:22:54,570 Yeah. Which is, which is another thing that like, 395 00:22:54,570 --> 00:22:59,110 I think is a big hurdle for people to go. I'm just, you know, 396 00:22:59,110 --> 00:23:03,790 happily go through and miss every opportunity that could have 397 00:23:03,790 --> 00:23:05,750 worked out. And like, I mean what I, 398 00:23:05,780 --> 00:23:09,190 I tend to do is I'll draw a line where I think that, you know, 399 00:23:09,190 --> 00:23:13,310 I'd like to take this trade but I'm not gonna take it for these reasons. 400 00:23:13,490 --> 00:23:17,630 And then the next day or whatever next candle I'll go and check it and see would 401 00:23:17,630 --> 00:23:21,150 it have worked? Ah yeah, it did or it didn't. And then you go, okay, 402 00:23:21,150 --> 00:23:23,550 well there's a reason or it worked and it mm-hmm , 403 00:23:23,550 --> 00:23:26,910 it gave me like half an hour and you go, well yeah, 404 00:23:26,910 --> 00:23:29,750 you would've made some money but you would've probably just, you know, 405 00:23:29,750 --> 00:23:31,630 given it all back and you wouldn't have taken profit. 406 00:23:32,160 --> 00:23:36,030 So little tricks like that. Now what about like your typical trading day? 407 00:23:36,030 --> 00:23:39,670 I mean, how do you, uh, structure it? What does it look like for you? 408 00:23:41,460 --> 00:23:43,450 So I'm Eastern standard time, 409 00:23:44,020 --> 00:23:48,560 so for my time I'm basically waking up at six o'clock every day, 410 00:23:48,560 --> 00:23:51,360 which is three hours after London open. 411 00:23:51,890 --> 00:23:55,960 So I'm catching the middle of London and I'm basically trading until London 412 00:23:55,960 --> 00:23:57,120 close around noon. 413 00:23:57,380 --> 00:24:02,120 And we do our live session for Trader Society Academy Monday through Thursday. 414 00:24:02,140 --> 00:24:05,200 And our trade session is running for about four hours. 415 00:24:05,930 --> 00:24:10,360 So I'm doing that from nine till about 12 or one o'clock in the afternoon. 416 00:24:12,320 --> 00:24:15,310 So essentially I'm at the computer or you know, 417 00:24:15,310 --> 00:24:18,150 basically trading for about five or six hours in total. 418 00:24:18,150 --> 00:24:22,110 But because everything is on the higher timeframes, it's not always, you know, 419 00:24:22,110 --> 00:24:23,510 it don't have to be super active. 420 00:24:23,510 --> 00:24:28,430 We're able to back test on the sessions in between answer questions, 421 00:24:28,430 --> 00:24:31,950 pretty much do a little bit of everything while we're waiting on certain setups 422 00:24:31,950 --> 00:24:32,700 to happen. 423 00:24:32,700 --> 00:24:33,710 Okay. And, 424 00:24:33,710 --> 00:24:37,710 and I know Derek said that he goes across every timeframe he's got every 425 00:24:37,710 --> 00:24:39,510 timeframe that he looks at. Are you the same? 426 00:24:41,360 --> 00:24:43,850 I don't look at the smaller timeframes too much. 427 00:24:44,240 --> 00:24:49,010 I really like the major or main confluences to be on the 428 00:24:49,010 --> 00:24:50,530 four hour daily or weekly. 429 00:24:50,800 --> 00:24:53,650 I would say those are the main timeframes that I stay on. 430 00:24:54,150 --> 00:24:57,810 And have you got like a, a sort of record of all the trades you've taken, 431 00:24:58,640 --> 00:25:00,210 timeframes the trades are on, 432 00:25:00,210 --> 00:25:04,570 all that sort of thing to then go back and I suppose review and, 433 00:25:04,570 --> 00:25:06,930 and see if, you know, oh look, you know, we, we, 434 00:25:06,930 --> 00:25:10,690 we keep getting winners on the five hour timeframe. Um, more, 435 00:25:10,760 --> 00:25:12,010 I suppose the problem with, 436 00:25:12,010 --> 00:25:14,890 with you guys is you've got a like 90 to 95% win rate, 437 00:25:14,890 --> 00:25:19,050 so so it's hard to work out what doesn't work. Um, but is there any, 438 00:25:19,050 --> 00:25:21,530 are there any stats around this that you sort of keep a log off? 439 00:25:22,970 --> 00:25:24,320 Um, not necessarily. 440 00:25:24,350 --> 00:25:28,560 I mean Derek definitely goes a little heavier with the three hour, 441 00:25:28,710 --> 00:25:31,480 five hour, eight hour timeframe than I do. 442 00:25:31,590 --> 00:25:35,850 I typically tend to stick to more of the traditional timeframes. Um, 443 00:25:35,850 --> 00:25:40,370 but there are times that something looks better on the five hour than it does on 444 00:25:40,470 --> 00:25:41,330 the four hour, 445 00:25:41,330 --> 00:25:45,450 where even just that one hour because that one hour changes the whole moving 446 00:25:45,450 --> 00:25:50,310 average location where a trade that's lining up good on the tdi, 447 00:25:51,280 --> 00:25:53,230 uh, might not look good on the four hour, 448 00:25:53,230 --> 00:25:56,070 but then you switch to the five hour and you could see that it's actually coming 449 00:25:56,070 --> 00:25:57,590 to an area that makes a lot of sense. 450 00:25:58,110 --> 00:26:02,820 So sometimes even that one hour difference, three hour, five hour, uh, that td, 451 00:26:02,820 --> 00:26:06,900 the TDI I and the RSI placement can make the difference between taking a trade 452 00:26:06,900 --> 00:26:08,020 or not taking a trip. 453 00:26:08,850 --> 00:26:09,340 Okay. 454 00:26:09,340 --> 00:26:13,180 Now I'm gonna sort of jump back a little bit and then forward rather quickly, 455 00:26:13,280 --> 00:26:15,180 but, so talking about, 456 00:26:15,180 --> 00:26:18,700 I suppose what's quite interesting is to find out how you, uh, 457 00:26:18,700 --> 00:26:23,660 overcame the capital aspect of trading so I getting some capital to trade 458 00:26:23,660 --> 00:26:28,420 with and or, um, making that shift from paid employment, which I know you, 459 00:26:28,420 --> 00:26:33,380 you said you had a job beforehand, uh, to going full-time trading. I mean, 460 00:26:33,380 --> 00:26:34,980 how did all that play out for you? 461 00:26:35,590 --> 00:26:38,220 So getting the capital and deciding on going full-time? 462 00:26:39,250 --> 00:26:42,980 Yeah, so I had, the last job I had quit was about a year ago. 463 00:26:43,160 --> 00:26:46,480 So it's been about a year that I've been mostly full-time. 464 00:26:46,630 --> 00:26:48,480 When I first quit my job, 465 00:26:48,480 --> 00:26:52,760 it was like when I had first gotten a funded account before I even got my first 466 00:26:52,760 --> 00:26:55,160 payout , I got the funded account. 467 00:26:55,160 --> 00:26:57,800 Like I was able to trade before I went to work, um, 468 00:26:57,800 --> 00:26:59,520 when I was a delivery driver for Amazon. 469 00:26:59,520 --> 00:27:04,240 So like as soon as I started to pass the prop firm 470 00:27:04,240 --> 00:27:07,080 challenge and I was thinking I was like a week or two into it, 471 00:27:07,080 --> 00:27:10,400 like still a couple weeks from getting paid and I was already like, oh, 472 00:27:10,400 --> 00:27:14,360 I'm quitting the job. Um, yeah, definitely a little bit early. 473 00:27:14,360 --> 00:27:15,360 I wouldn't recommend that. 474 00:27:15,360 --> 00:27:16,880 Yeah, job job must have been miserable. 475 00:27:17,600 --> 00:27:20,600 . Yeah. Yeah, I was just happy to get outta that. 476 00:27:22,270 --> 00:27:24,500 Um, but even after that I did like, 477 00:27:24,570 --> 00:27:29,180 I pretty much did some side jobs because I was always a hundred K 478 00:27:29,180 --> 00:27:33,220 funded. So I mean since then I've flipped through a couple different a hundred K 479 00:27:33,220 --> 00:27:36,540 accounts, but now I've been on the same a hundred k account for three, 480 00:27:36,540 --> 00:27:41,500 four months now. But I've pretty much always gone the route of, uh, 481 00:27:41,500 --> 00:27:45,340 funded, you know, through a prop firm. I found that was, you know, 482 00:27:45,340 --> 00:27:49,100 for someone who didn't have 30,000 just sitting around 40,000, 483 00:27:49,100 --> 00:27:50,420 I think it makes a lot of sense. 484 00:27:51,150 --> 00:27:51,800 Okay. So you. 485 00:27:51,800 --> 00:27:53,360 So I'm definitely looking to increase that. 486 00:27:53,610 --> 00:27:54,260 So you got, 487 00:27:54,260 --> 00:27:57,720 you got a hundred thousand in funding and that's been enough for you to be, 488 00:27:57,720 --> 00:28:01,200 you know, with a 90% success rate and a uh, uh, 489 00:28:01,200 --> 00:28:04,040 a three to one risk reward is obviously enough every month to, 490 00:28:04,040 --> 00:28:08,520 to make a withdrawal from that, which is awesome. Um, now, uh, 491 00:28:08,770 --> 00:28:11,320 if we had to sort of talk about like, what, 492 00:28:11,320 --> 00:28:15,920 what do you think made you different from other traders out there? What are, 493 00:28:15,950 --> 00:28:18,520 I mean it sounds like you have got a different angle, um, 494 00:28:18,630 --> 00:28:21,280 than what a lot of other people go into it with. 495 00:28:21,750 --> 00:28:25,560 What would you have sort of put it down to, what would you put it down to? 496 00:28:27,600 --> 00:28:28,990 Um, so I, uh, 497 00:28:28,990 --> 00:28:33,390 I think some of it has to do with just my personal drive. I mean, 498 00:28:33,390 --> 00:28:36,070 I have three young children. I have a one-year-old, a two-year-old, 499 00:28:36,070 --> 00:28:38,150 and a three-year-old. So. 500 00:28:38,450 --> 00:28:42,310 And he quit your job before and he quit your job when you got Amazon. Was it, 501 00:28:42,310 --> 00:28:45,630 have you got a partner who works or is, I mean. 502 00:28:46,400 --> 00:28:50,590 No, she's pretty much been a stay-at-home mom ever since she had kids. I mean, 503 00:28:50,590 --> 00:28:52,910 it was just kids back to back basically. Yeah. 504 00:28:52,910 --> 00:28:57,870 So I think that created so much pressure on myself that I was working 505 00:28:57,900 --> 00:28:59,950 jobs, you know, two jobs at times, 506 00:29:00,020 --> 00:29:04,630 back to back jobs that as soon as I was able to see the light at the end of the 507 00:29:04,630 --> 00:29:09,070 tunnel with trading, I was so driven and so motivated to, 508 00:29:09,460 --> 00:29:13,150 I think that also helped me follow my plan and risk management and things like 509 00:29:13,150 --> 00:29:17,550 that where once I really saw that was within grasp, you know, 510 00:29:17,550 --> 00:29:19,350 as I got funded and then, you know, 511 00:29:19,350 --> 00:29:23,710 working towards a payout able to see that this could really be an end to, 512 00:29:24,730 --> 00:29:29,600 um, just all those hours not being able to see my kids grow up, you know, 513 00:29:29,730 --> 00:29:30,360 so it, 514 00:29:30,360 --> 00:29:34,800 I really had a strong drive to make things work and be able to spend time with 515 00:29:34,800 --> 00:29:37,110 my family and I, 516 00:29:37,180 --> 00:29:40,790 I think I really stuck to the plan a lot when it came to Derek's strategy. 517 00:29:40,790 --> 00:29:43,560 Some people come across a strategy, they try it for a week, 518 00:29:43,630 --> 00:29:47,480 they try it for a month, they try it for a couple trades and they're like, oh, 519 00:29:47,480 --> 00:29:49,600 this is just like anything else. Um, 520 00:29:49,600 --> 00:29:53,680 I think what set me apart from so many other people that say have watched 521 00:29:53,680 --> 00:29:57,880 Derek's course or uh, try to trade his way was just, 522 00:29:57,910 --> 00:30:01,000 I stuck with it, you know, month after month, 523 00:30:01,000 --> 00:30:05,440 week after week that it's just been so long that I haven't turned, you know, 524 00:30:05,440 --> 00:30:06,600 I haven't turned my back to it. 525 00:30:06,600 --> 00:30:09,720 I haven't really straight away from the strategy. 526 00:30:09,720 --> 00:30:13,680 Either tired of missing trades or spending hours at the charts introducing my 527 00:30:13,680 --> 00:30:16,520 robot builders club. Without platform you can build bots and minutes, 528 00:30:16,520 --> 00:30:18,800 not weeks without any coding required, 529 00:30:18,800 --> 00:30:23,160 get lifetime access to my video course v i p community and over 40 ready made 530 00:30:23,160 --> 00:30:26,840 robots works with MT four or MT five and as a bonus you'll get three months 531 00:30:26,840 --> 00:30:30,880 access to my robot lab where we build and test bots on live calls every week. 532 00:30:30,880 --> 00:30:34,120 Join the hundreds of traders who are trading smarter, not harder. 533 00:30:34,120 --> 00:30:35,800 Click the link in the description to learn more, 534 00:30:35,800 --> 00:30:38,400 get the free training and download a free robot. And, 535 00:30:38,400 --> 00:30:39,600 and why do you think that is? 536 00:30:39,860 --> 00:30:43,520 Why do you think you managed to stick with this one versus 537 00:30:44,550 --> 00:30:48,120 like going, oh, well, you know, I had a had a couple of bad trades and, 538 00:30:48,120 --> 00:30:50,880 and I'm gonna look for something else. What, what was the difference here? 539 00:30:50,880 --> 00:30:51,920 There's gotta be a difference, right? 540 00:30:51,920 --> 00:30:53,480 And I think other people might learn from this. 541 00:30:54,230 --> 00:30:57,160 Yeah, I think as it's, 542 00:30:57,160 --> 00:31:01,440 it's hard to describe it because there's such an industry standard, 543 00:31:01,440 --> 00:31:05,600 there's such this standard of naked trading is the white, uh, 544 00:31:05,600 --> 00:31:08,720 the right way to trade. If you're not using, if you're using indicators, 545 00:31:08,720 --> 00:31:10,760 you're like an amateur, you don't know what you're doing. 546 00:31:11,070 --> 00:31:15,400 It's such a stigma I would say. And I found that this strategy, 547 00:31:16,060 --> 00:31:18,960 cuz again, it's gonna sound so like cliche or whatever the word is, 548 00:31:18,960 --> 00:31:23,160 but it is like a holy grail of strategies that if you are patient, 549 00:31:23,160 --> 00:31:28,040 you stay disciplined and you wait for your confluences and your timeframes 550 00:31:28,040 --> 00:31:31,280 to line up, you are almost, almost guaranteed a win. 551 00:31:31,380 --> 00:31:33,720 Not a hundred percent guaranteed, but again, 552 00:31:33,720 --> 00:31:38,680 we've been maintaining a 90% plus win rate over the series of months and I 553 00:31:38,680 --> 00:31:43,480 think derrick's going on like a year or so of maintaining a 96% 554 00:31:43,480 --> 00:31:47,520 win rate. And I don't know anybody else in the industry that can do that, 555 00:31:47,520 --> 00:31:52,120 especially people that don't use indicators cuz I feel those indicators 556 00:31:52,790 --> 00:31:56,640 make all the difference because I can look at that T d I and it will stop me 557 00:31:56,640 --> 00:32:00,280 from taking trades that I normally would've taken in the past just because, 558 00:32:00,280 --> 00:32:05,040 you know, it's, oh it's bearish and a support might become a resistance. 559 00:32:05,280 --> 00:32:08,960 Where now it's, you know, there's a combination of three indicators. 560 00:32:08,960 --> 00:32:12,120 There's a specific way of using trend lines, there's timeframe, 561 00:32:12,760 --> 00:32:13,960 multiple timeframe analysis, 562 00:32:14,460 --> 00:32:19,400 and I don't understand how people don't use indicators or how they even do 563 00:32:19,400 --> 00:32:23,800 as good as they do without it. It literally helps me weed out the bad trades. 564 00:32:23,800 --> 00:32:26,960 Yeah, yeah, I mean I I I I tend to agree, I mean I, 565 00:32:26,960 --> 00:32:30,680 I look at indicators as well. Um, and it, 566 00:32:30,680 --> 00:32:35,000 it is definitely like if I didn't have them I, yeah, , 567 00:32:35,000 --> 00:32:38,600 same kind of thing. I'd be, I mean I can see I, when I take a bad trade, 568 00:32:38,600 --> 00:32:41,520 I can can see that like why I, 569 00:32:41,520 --> 00:32:44,120 that trade didn't work out and I immediately know. 570 00:32:44,620 --> 00:32:47,840 And usually cuz if it's on a lower timeframe I'll be like going, oh, 571 00:32:47,840 --> 00:32:50,480 immediately know why this trade's not gonna work out now. 572 00:32:50,500 --> 00:32:52,360 And I get at that point I, 573 00:32:52,390 --> 00:32:57,120 I know I should just excerpt and I'll end up usually I'll let have to stop. Um, 574 00:32:57,120 --> 00:32:59,600 anyway, um, one thing I did wanna ask was, 575 00:33:02,010 --> 00:33:04,150 and you don't have to answer this if you don't want to, 576 00:33:04,150 --> 00:33:08,830 but difference between your last paycheck at Amazon 577 00:33:09,130 --> 00:33:13,610 and your first payout on the funded account. What was the difference? 578 00:33:15,040 --> 00:33:18,110 So at Amazon, I think I was doing around, 579 00:33:19,740 --> 00:33:23,470 I wanna say 3000 a month or a little over 3000, 580 00:33:23,470 --> 00:33:24,830 like barely skating by. 581 00:33:25,290 --> 00:33:28,510 And my first payout was almost 8,000. 582 00:33:28,780 --> 00:33:30,590 Whoa. . That's. 583 00:33:30,590 --> 00:33:35,270 Crazy . So yeah, it was definitely like almost double and you know, 584 00:33:35,270 --> 00:33:40,210 the amount of hours I was putting in was so substantially different that it just 585 00:33:40,210 --> 00:33:44,850 made it so much more worth it to just trade over, you know, something else. 586 00:33:44,850 --> 00:33:47,890 And this is just the beginning, you know, I look at it as I'm still like, 587 00:33:47,890 --> 00:33:52,890 this is basically my third year of trading in general. Hmm. So I know that, 588 00:33:52,890 --> 00:33:53,370 you know, 589 00:33:53,370 --> 00:33:57,370 I look at Derrick as somebody as where I could be in a couple more years as, 590 00:33:57,380 --> 00:34:02,130 as he himself has also just slowly gotten better and even, you know, 591 00:34:02,130 --> 00:34:07,130 he went from maybe a 90% success rate a couple years ago to being like 96% 592 00:34:07,130 --> 00:34:07,690 now. 593 00:34:07,690 --> 00:34:10,370 . Yeah. Crazy. And he said that, he said that you, 594 00:34:10,370 --> 00:34:13,010 you didn't take that trade that he took and lost or, 595 00:34:13,010 --> 00:34:15,570 or you went on the stream or something, you didn't take the trade. 596 00:34:15,570 --> 00:34:20,010 So that's where he is like putting you almost above him in terms of, um, 597 00:34:20,260 --> 00:34:24,490 of how good you, you've managed to get. Now talking about our mindset thing, 598 00:34:24,490 --> 00:34:27,770 I mean, did you have any mindset issues around like, you know, 599 00:34:27,770 --> 00:34:32,610 you talked about patience around holding trades or, or anything like that. 600 00:34:32,610 --> 00:34:37,410 Did you have get frustrated at all at any point and you had to sort of 601 00:34:37,510 --> 00:34:39,210 get yourself in the right mindset? Like, 602 00:34:39,210 --> 00:34:42,450 I mean some of the guys that come on the show are doing things like, you know, 603 00:34:42,450 --> 00:34:46,170 an hour's meditation before they jump on the charts, uh, uh, you know, 604 00:34:46,170 --> 00:34:49,210 having to go to the gym, all that sort of stuff. Do you need to do any of that? 605 00:34:49,210 --> 00:34:50,043 What do you do? 606 00:34:51,230 --> 00:34:56,090 I'm definitely big on the aspect of prayer and meditation and the spiritual 607 00:34:56,090 --> 00:35:00,970 aspect because I'm also in recovery myself from drugs and alcohol. 608 00:35:00,970 --> 00:35:01,803 I mean, 609 00:35:02,070 --> 00:35:06,980 in my powers a I was a drug addict and an alcoholic for basically 10 years of my 610 00:35:06,980 --> 00:35:11,180 life and now it's been a couple years that I've been sober and I've found that 611 00:35:11,180 --> 00:35:15,500 there's such a relationship between the type of personal growth you have to do 612 00:35:16,070 --> 00:35:18,780 as somebody who's in recovery, um, 613 00:35:19,100 --> 00:35:21,740 compared to somebody who's trying to become a profitable trader. 614 00:35:22,320 --> 00:35:25,020 The aspect of being disciplined of you know, 615 00:35:25,020 --> 00:35:28,580 you have to do what you don't wanna do. We wanna be in trades all the time, 616 00:35:28,640 --> 00:35:30,820 but it's not good for us. We're gonna lose money. 617 00:35:31,030 --> 00:35:33,860 There's so much of a relation and I found that, you know, 618 00:35:33,860 --> 00:35:38,720 spirituality was a very big part of my recovery and I've found that the 619 00:35:38,720 --> 00:35:39,480 same thing in trading. 620 00:35:39,480 --> 00:35:44,280 It helps me definitely stay balanced and stay centered and the aspect 621 00:35:44,280 --> 00:35:49,200 of helping other people is also very big that I feel in turn helps myself 622 00:35:49,200 --> 00:35:49,870 quite a bit. 623 00:35:49,870 --> 00:35:53,440 Yeah, yeah. Uh, now one thing, um, 624 00:35:54,020 --> 00:35:58,440 one thing I'd like to ask is what about if you had to give a bit of advice for a 625 00:35:58,440 --> 00:36:01,800 retail trader who's struggling, what would that advice be? 626 00:36:04,540 --> 00:36:09,430 I would definitely tell people to get introduced or start to 627 00:36:09,430 --> 00:36:11,670 learn how to use indicators because like I said, 628 00:36:11,670 --> 00:36:15,460 I think it's such a self-destructive or such a, 629 00:36:15,460 --> 00:36:19,660 such a bad thing in this industry that people talk so bad against it, 630 00:36:19,960 --> 00:36:24,820 but yet it does so much good for people. Like if it can increase your win rate, 631 00:36:24,820 --> 00:36:29,060 help you find better trades, um, why would you, why would you not use it? 632 00:36:29,060 --> 00:36:30,940 Why would you tell somebody not to use it? 633 00:36:30,940 --> 00:36:34,260 Because I know early on in my journey it was like shunned upon, 634 00:36:34,260 --> 00:36:36,940 I just noticed everyone I was watching, they're like, oh, 635 00:36:37,220 --> 00:36:39,460 I don't need indicators. Like it's gonna cloud your chart, 636 00:36:39,460 --> 00:36:42,900 you won't know what's going on. People that use it, they're fake mentors. 637 00:36:43,440 --> 00:36:47,140 All this stuff that I found out, like now that I'm doing so good myself, 638 00:36:47,140 --> 00:36:50,300 I'm like, why do people say these things? ? Yeah. 639 00:36:50,790 --> 00:36:53,100 So I would say don't get stuck up. You know, 640 00:36:53,100 --> 00:36:55,700 don't feel that you're above using indicators. 641 00:36:55,730 --> 00:36:59,340 Yeah. Almost suppose indicators unfortunately can't defend themselves, you know, 642 00:36:59,340 --> 00:37:02,380 and, and they, they haven't got a voice, so it's easy to, 643 00:37:02,630 --> 00:37:06,020 to fit for them to get a bad rep, uh, rap and it, and it's, 644 00:37:06,530 --> 00:37:11,140 I I think it gen I think it originates from the moving average 645 00:37:11,140 --> 00:37:13,900 crossover. I literally think that's, that's what it is. 646 00:37:13,900 --> 00:37:18,500 I think people are like moving average crossovers doesn't work and therefore 647 00:37:18,740 --> 00:37:22,260 all indicators are bad, which, you know, yeah, I think there's a case for them. 648 00:37:22,260 --> 00:37:24,580 I definitely do. I definitely do. Now, um, 649 00:37:24,580 --> 00:37:28,060 we're gonna run through through some quickfire questions here and uh, 650 00:37:28,060 --> 00:37:29,260 then we're gonna wrap the show up. 651 00:37:29,260 --> 00:37:32,420 So how long did it take you to go from UBI two consistently profitable? 652 00:37:33,420 --> 00:37:35,660 About two years, two and a half years. 653 00:37:36,430 --> 00:37:38,000 What's your favorite entry setup? 654 00:37:40,040 --> 00:37:44,410 I would say a hidden divergence on the four hours. 655 00:37:44,410 --> 00:37:45,890 So going with the trend, 656 00:37:46,280 --> 00:37:49,610 a hidden divergence where it's a level of either resistance, 657 00:37:49,610 --> 00:37:51,810 turn support or support turn resistance. 658 00:37:51,990 --> 00:37:55,970 And I only take hidden divergence with the 50 moving average. 659 00:37:56,340 --> 00:37:57,650 So going with the trend, 660 00:37:57,650 --> 00:38:01,810 I can expect that if I'm getting in a lower, 661 00:38:02,160 --> 00:38:05,010 a higher low, that I'm going to, uh, 662 00:38:05,010 --> 00:38:09,770 take the trade to the next high or the next low if it was a bearish trend. 663 00:38:09,900 --> 00:38:14,680 So those type of trades get the best risk to reward because you are 664 00:38:14,680 --> 00:38:18,520 taking it past structure, you're taking it to a new high or to a new low. 665 00:38:18,730 --> 00:38:21,480 So I find those tend to be the best traits. 666 00:38:22,730 --> 00:38:24,960 Uh, what's your recommended trading book or resource? 667 00:38:27,100 --> 00:38:30,770 Um, probably Trading in The Zone by Mark Douglas. 668 00:38:32,110 --> 00:38:33,580 Uh, what about walk? Uh, 669 00:38:33,580 --> 00:38:36,120 do you wanna walk us through the worst ever trade you've had? 670 00:38:37,670 --> 00:38:42,070 the worst ever trade? Yeah, 671 00:38:42,070 --> 00:38:46,910 that's essentially been an instance of where something was, 672 00:38:47,340 --> 00:38:48,870 I don't remember the exact pair, 673 00:38:48,870 --> 00:38:52,510 but I know there's been a couple instances of this type of setup happening and I 674 00:38:52,510 --> 00:38:56,410 had gotten caught up in them a couple times. Um, 675 00:38:56,410 --> 00:39:01,250 earlier on when I was learning the strategy was when something looked really 676 00:39:01,250 --> 00:39:05,810 good on the four hour and say the t d I was a massive shark fin, 677 00:39:05,810 --> 00:39:08,610 so extremely oversold. This thing is coming up, 678 00:39:08,960 --> 00:39:12,610 it's coming up to a moving average. It's oversold, it's at a resistance, 679 00:39:13,350 --> 00:39:18,090 but on the daily timeframe it's coming off of a trend line 680 00:39:18,090 --> 00:39:20,330 and a whole nother moving average down low. 681 00:39:20,330 --> 00:39:24,650 That was explaining why there was such a massive pushup. 682 00:39:24,650 --> 00:39:29,370 And I would trying to short it because, you know, I saw the shark fin figuring, 683 00:39:29,470 --> 00:39:31,890 you know, price was just gonna react because you know, 684 00:39:32,150 --> 00:39:33,850 two or three different things lined up. 685 00:39:34,070 --> 00:39:38,770 But I learned that two or three confluences doesn't always beat the higher 686 00:39:38,770 --> 00:39:43,250 timeframe if it's going against you that weekly or daily definitely 687 00:39:43,250 --> 00:39:46,930 trumps over whatever you see going on on the four hour chart. Yeah. 688 00:39:47,060 --> 00:39:51,130 So essentially repeatedly trying to sell something that looked good on the four 689 00:39:51,130 --> 00:39:54,610 hour Yeah. But was very bullish on the daily or the weekly. Yeah. 690 00:39:55,000 --> 00:39:59,890 I I I I I hear you actually on that because I've had similar experiences where 691 00:39:59,890 --> 00:40:03,930 it's like, oh man, this is the perfect setup. It's like literally picture, 692 00:40:03,930 --> 00:40:07,730 picture perfect and exactly the same thing happens, 693 00:40:07,730 --> 00:40:11,810 you get smashed in the face and go, how did that not work? And it's, 694 00:40:11,810 --> 00:40:15,690 it's high timeframe, high timeframe stuff every single time. Now, um, 695 00:40:15,690 --> 00:40:18,810 if you could leave our listeners with one piece of advice, what would it be? 696 00:40:21,450 --> 00:40:25,860 Um, I would say it's so important to be patient, patient in trading. 697 00:40:25,860 --> 00:40:27,180 And I know people say that, 698 00:40:27,180 --> 00:40:32,140 but I realized in hindsight after the years that have gone by and the 699 00:40:32,140 --> 00:40:34,980 blown accounts was always trying to make it too fast. 700 00:40:35,160 --> 00:40:38,860 And I didn't seem to realize that if you lose your money too fast, 701 00:40:38,860 --> 00:40:40,180 it takes you out of the game, 702 00:40:40,650 --> 00:40:44,780 then you have to sit on the sidelines and that demo trading doesn't hold the 703 00:40:44,780 --> 00:40:48,820 same value that even if you're doing a prop firm challenge, 704 00:40:48,820 --> 00:40:52,620 I feel that is much better because a lot of people do treat that as if it's real 705 00:40:52,620 --> 00:40:53,820 money. Um, 706 00:40:53,820 --> 00:40:58,540 so whether it's a small live account or even a small prop firm challenge 707 00:40:58,890 --> 00:41:03,620 that either of those is better than just a flat out demo account because the 708 00:41:03,620 --> 00:41:04,430 emotion isn't there. 709 00:41:04,430 --> 00:41:08,380 So if you blow all your money and you blow your account in your first three days 710 00:41:08,380 --> 00:41:11,260 of trading, you gotta wait for your next paycheck and now you're trading demo. 711 00:41:11,260 --> 00:41:12,860 And I realize that that didn't really, 712 00:41:12,860 --> 00:41:16,700 I didn't progress trading at all that way. So taking it patient, 713 00:41:16,850 --> 00:41:17,940 like being patient, 714 00:41:17,940 --> 00:41:22,820 taking it slow and really keeping that leverage down because you 715 00:41:22,820 --> 00:41:26,220 won't regret using lower leverage using a smaller lot size, 716 00:41:26,220 --> 00:41:30,620 but you will regret using too high of a lot size to where, you know, 717 00:41:30,620 --> 00:41:33,100 you can't even hold to your stop loss type of thing. Yeah. 718 00:41:33,240 --> 00:41:37,160 Yeah. Gotcha, gotcha. Great advice. Now before we wrap up, 719 00:41:37,160 --> 00:41:39,280 what's the best way for traders to get hold of you? 720 00:41:41,260 --> 00:41:44,090 Um, either on the, through the website, 721 00:41:44,090 --> 00:41:48,050 which is trader society.com or on Instagram. 722 00:41:48,100 --> 00:41:50,850 My Instagram handle is the Joe Caruso. 723 00:41:52,190 --> 00:41:55,780 Awesome. Well look a big thank you to Joe for sharing with us today. 724 00:41:55,780 --> 00:41:59,180 Everything we've discussed here along with all the links he's just mentioned are 725 00:41:59,180 --> 00:42:00,500 in the show notes. To find them, 726 00:42:00,500 --> 00:42:04,220 simply search for Joe in the search box on trading nut.com. Until next time, 727 00:42:04,220 --> 00:42:06,460 wish all my listeners Trading happiness and success. Alright folks, 728 00:42:06,460 --> 00:42:09,580 do you have an interview done and duster with Joe now Doman, we uh, 729 00:42:09,580 --> 00:42:13,380 shot a video afterwards where he breaks down the trading strategy they use to 730 00:42:13,380 --> 00:42:16,540 get that 95% win rate. You're also gonna see the Myx, 731 00:42:16,540 --> 00:42:18,780 but proof the sort of before and after, 732 00:42:18,780 --> 00:42:22,380 like last time we had Derek on and then all the way up to what we've got now 733 00:42:22,380 --> 00:42:25,540 with Joe. Uh, the track record just continues. Alright, 734 00:42:25,540 --> 00:42:26,900 folks do remember hit subscribe, 735 00:42:26,900 --> 00:42:29,380 like in that notifications bill while you're clicking around down there, 736 00:42:29,380 --> 00:42:30,500 finding the show notes. 737 00:42:30,720 --> 00:42:35,140 And also make sure you subscribe to that Telegram channel because we got 738 00:42:35,140 --> 00:42:38,020 something new hitting very soon. Alright folks, thanks for watching. 739 00:42:38,020 --> 00:42:40,060 Thanks for listening and we'll see you in the.