In a recent episode of the TFT podcast, Mike, a skilled trader affiliated with TFT from New York, shared insights into his journey.
In a recent episode of the TFT podcast, Mike, a skilled trader affiliated with TFT from New York, shared insights into his journey.
In a recent episode of the TFT podcast, Mike, a skilled trader affiliated with TFT from New York, shared insights into his journey and impressive financial accomplishments. Hailing from the bustling streets of New York, Mike revealed that his most recent TFT payout exceeded $4,000, with another substantial payout of over $7,000 on the horizon.
At the young age of 22, Mike recounted the challenges and triumphs of his trading journey. He emphasized the difficulty of mastering intricate trading concepts while navigating the emotional roller coaster that comes with the financial markets. Mike’s resilience shone through as he spoke about facing skepticism and misconceptions surrounding Forex trading, particularly in the competitive atmosphere of New York.
Mike shed light on the misunderstood nature of Forex trading, sharing anecdotes about explaining his trading activities to family and colleagues. He emphasized the importance of perseverance and mindset, citing personal experiences of overcoming losses and steadily progressing in his trading journey.
When asked about his preferred trading strategy, Mike revealed his focus on JPY pairs, specifically trading USD/JPY, CAD/JPY, and EUR/JPY. He explained the decision to avoid the notoriously volatile GBP/JPY, highlighting the importance of finding a trading pair that aligns with one’s personality and risk tolerance.
The discussion touched on Mike’s experimentation with other instruments, such as US30, and the challenges he faced while attempting to scalp the volatile market. Despite setbacks, he emphasized the importance of learning from losses and evolving one’s approach to trading.
Mike outlined some of his trading rules, including refraining from trading before 8:30 AM and placing emphasis on mapping out key levels and structures. He stressed the need for patience and the importance of building a reasonable picture before entering a trade.
With approximately 20 trades per week, Mike acknowledged the challenge of curbing his trading frequency after a loss. He revealed his evolving strategy of reducing risk after consecutive losses to maintain consistency in his trading approach.
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