In a recent FundedNext interview, Salmaan Rashid, a seasoned day trader, shared his journey into the world of trading.
In a recent FundedNext interview, Salmaan Rashid, a seasoned day trader, shared his journey into the world of trading.
In a recent FundedNext interview, Salmaan Rashid, a seasoned day trader, shared his journey into the world of trading, with a particular focus on gold. His experience offers valuable lessons for both new and experienced traders looking to enhance their trading strategies and mindset.
Rashid’s journey into trading began during his university days when he first started investing in stocks. Initially, he traded stocks like Nvidia and Netflix, achieving a 20% return within the first two weeks. However, it wasn’t until the start of this year that he transitioned into day trading. He took some of his long-term investments out and started using leverage to trade stocks and shares, with a focus on major companies like Coinbase. This was a steep learning curve, and while some trades were successful, others didn’t work out as expected, teaching him the importance of managing risk.
His strategy involves a mix of shorter-term (1-minute) and longer-term (4-hour and daily) timeframes to assess entry points and identify key support and resistance levels. Gold’s volatility, especially in today’s economic climate, has made it a lucrative asset for day trading. “Gold is a great day trading asset,” says Rashid. “You just need to watch for reversals and manage your risk well.”
As for his trading style, Rashid advocates for quality over quantity. He has learned to limit his trades, focusing on the best opportunities rather than trading frequently. This approach, along with a strict risk management strategy, has led to greater success in his trading.
Rashid is currently funded by FundedNext. He shared that his first experience with FundedNext was highly positive, as he was funded on his first account and received his payout quickly. “It was a great experience. I know people have mixed opinions about prop firms, but my first experience with FundedNext was fantastic. The payouts were fast, and the fees are reasonable,” says Rashid.
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The Funded Trader follows a belief that every retail trader deserves an opportunity to raise capital based on their performance and commitment to building their own business. They are searching for passionate and experienced traders who will succeed with the help of their funds by showing skills in various market conditions.
Bespoke Funding strives to create unique funding opportunities for traders worldwide by creating approachable ways to become a professional, funded trader who can remotely manage their capital. They have developed a user-friendly experience with the industry's best technology to back it.
MyFundedFX offers traders three different challenge programs that aim to provide an opportunity to trade without risking their own capital. Profitable traders receive a payment based on a specific percentage of the profits they make while having no liability on the firm's capital, meaning that they will cover all losses.
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