In a recent episode of the TFT podcast, Mike, a trader hailing from New York, shared his remarkable success with TFT.
In a recent episode of the TFT podcast, Mike, a trader hailing from New York, shared his remarkable success with TFT.
In a recent episode of the TFT podcast, Mike, a trader hailing from New York, shared his remarkable success with The Funded Trader (TFT). Mike, at the young age of 22, revealed that he has received a payout of over $4,000, with another substantial payout of over $7,000 on the horizon.
During the engaging podcast, Mike discussed his challenging trading journey, emphasizing the difficulties of mastering complex concepts and managing emotional aspects. He highlighted the skepticism and misconceptions surrounding forex trading, especially in the wake of the COVID-19 pandemic, when many individuals sought financial opportunities.
Mike’s trading journey began when a friend introduced him to TFT, prompting him to invest $200. Despite early successes, Mike faced challenges with recruiting and the skepticism of others who misunderstood the nature of trading. Undeterred, he persisted, learning valuable lessons through losses and gaining a deeper understanding of the forex market.
Reflecting on the emotional rollercoaster of trading, Mike discussed the importance of overcoming losses and maintaining a positive mindset. He shared how he stabilized himself mentally when facing drawdowns, showcasing resilience in the face of adversity.
Detailing his trading strategy, Mike explained that he focuses on JPY pairs, particularly UJ, CAD/JPY, and EUR/JPY. He has developed specific rules for trading, such as starting to look for trades after 8:30, mapping out key zones, and incorporating quarter price levels in his analysis.
Mike candidly discussed his experimentation with US30 and the challenges he faced while attempting to scalp the pair. Acknowledging the volatile nature of US30, he emphasized the need to find a pair that suits one’s trading style and personality.
In addressing the frequency of his trades, Mike admitted to taking around 20 trades per week, acknowledging the need to reduce this number. He highlighted the emotional challenges associated with losing trades and discussed his evolving approach to risk management, adjusting position sizes after consecutive losses.
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