#1 FTMO Trader Gives Master Class to New Traders

0:00 do your your rules ever lose Edge no because this would mean that the way how the market Works change 180° the market since it's existent works the same way the mechanics of the market never change if they lost Edge the market would change fundamentally and is that because your rules are based on in this episode of The Way of the CPT consistently profitable Trader we have burn scoto Pinsky who is managing over 3 million in firm Capital he has over 175k and verified payouts from ftmo alone and he dominated the leader board as number one for three consecutive months he is the owner of the online trading campus with over 10 years of

0:45 experience burn shares his two-step approach to trading the markets how he trades prop firm challenges and gets consistent payouts his thoughts on scalping and a lot more things that we should take notes on without further Ado let's talk talk to burn welcome to another podcast we are here in Dubai with burn scoto Pinsky correct perfect app so um yeah it's it's it's an honor to meet you uh thanks for joining and being the second guest on the podcast you know I first saw you on YouTube um after seeing your successes with ftmo and you know I figured that prop Traders have a lot to learn from you I have a lot to learn from you and I'm sure you have a lot to share thanks for accepting my invitation well honestly speaking thank you for the invite I told you yesterday really appreci apprciate it and I feel honored because you have

1:31 nothing to gain from that your following base especially on YouTube is much bigger than mine so really appreciate it I feel honored so thank you for the invite yeah no we have a lot to gain from you cuz you know the podcast uh it's it's designed to bring real Traders real professionals to the Forefront so that students that are out there or traders that are out there that are looking for high quality education high quality mentorship they can find it cuz when I started it was hard for me to shuffle through all of the marketing and um to find real real professionals it's it's it's my honor really yeah I mean for the people out there it's like finding the needle in the Hast stick right by all the information out there it's really hard to dig through what is real and what is just like marketing as you say right definitely so I just want to allow people to get to know you um

2:16 who's burn can you tell us a little bit about where you're from about your upbringing yes absolutely so I moved to Dubai 13 years back originally you might hear it from my accent I'm from Germany I'm not native English so I'm from Germany I moved to Dubai 13 years ago I had a a normal corporate job in the very beginning then I early on when I moved to Dubai I ventured into trading I became eventually a full-time Trader and now a full-time Trader for 10 years so I'm trading full time providing for my family since now 10 years during that time it was in 2019 we established a licensed investment consultancy here in Dubai so we are licensed and regulated by the oue government Authority that's always very important to mention so I'm

3:03 not not another dude on social media who offers a telegram group and some dumb signals right so we are licensed to do what we do here in Dubai and we focus actually on on tangible and practical um trading education with our licensed investment consultancy there are some people that say if you're a successful Trader why do you need to provide education this is a question that oh I love that question I want to hear your your thoughts on that question I love the question well I understand first of all that people are critical because of the trading space right and in the trading space in general there's no regulation everyone can offer trading education because there's no system around that kind of proves or gives you that kind of license right right nobody

3:50 would question a doctor who teaches in a medical school University hey why arey if you're such a Prestige um brain surgeon why are you going to medical school and you know teach your craft or a lawyer why are you going to law school and teach people how to become a lawyer right nobody is teaching these professions because they are licensed what they're doing but when it comes to the trading space everybody can you know go in front of a camera and teaching you about you know how to trade the markets because there's no kind of Licensing field that's that's that's the problem that's why I initially started with prop trading right to get like this kind of certificates and showcase credibility

4:35 credibility to be the needle in the ha stick that's why initially I went there I was like oh this makes sense if I get all these certificates and show that I have payout proofs and stuff I'm better than others you know I I know what I whatever I talk about has some weight right right and on top it's about you know for me as I said the way how I trade and I mean that the way I say I don't need more than 30 minutes per day maximum maximum right um 15 to 30 minutes right going through the market I have my setups ready place them it's just like really I don't need a lot of time it's really Al then to build a legacy to and to do something on top it's quite interesting because I can

5:21 tell out of experience maybe I have time to tell the story because it's really interesting people also told me or ask me hey why don't why don't you lie on the beach the whole day and you why do you do so many other things on on the side like the the investment consultancy the trading school and so on why are you bothered with all of that you know I've been there after I quit my job I was so happy that I have this freedom and I was like on the beach every day another beach bar I you know I think I removed these pictures from the from my Instagram but I had like every day a different beach bar but I was all by myself because my friends were working you know I was like you know what I mean like but in the beginning I felt cool and proud that I can you know accomplish that kind of Lifestyle but I have to say

6:08 after 6 month of going through that lifestyle it's boring as [ __ ] you know and you feel useless you know that usess you feel you feel useless that that that Academy school however you want to call it that gives me a purpose yeah yeah to help others and the purpose aspect is really important to me because trading by itself doesn't it's it's just doesn't take a lot of time it's not time requirement what you know I'm doing a lot of sports I'm going to you seem you seem very fit I'm going to the gym every day I'm taking care of everything but that this gives me additional purpose it's great you know so how does Fitness help you with trading or is it the discipline or it's everything right you can translate so

6:54 much from the gym to kind of let's call it business attitude in general because all the business trades you need for trading as well like being disciplined showing up the commitment the consistency to build muscle to it's also translatable to like trading it takes time there's no overnight success and then you have the people who have these New Year's resolution who sign up on the first right on in January I think you have the highest sign up dates in when it comes to uh rates sign up rates when it comes to gym memberships because everybody has these New Year's related new resolutions but then they never show up right and it's the same with trading you have to show up it's not about the the notion that you would why do people

7:40 start trading I started trading because I need a change right people start trading usually because they have pain we have to let's let's let's face it I had pain yeah right yeah my pain was the corporate life I hated it so much your reasons might be different as well same same same you see but everybody who starts has a some pain or wants to change at least something in their life that what trading can provide but then it's not just about the notion of changing it's same with like body composure right it's like not like you know you're overweight and you want to change well you have to show up it's a long lasting process you cannot wake up the next day and be like a fitness model right it takes time right and the same with trading it's not about the notion you have to show up how

8:25 did you actually decide to move to Dubai well I had quite um I would say normal traditional very traditional childhood growing up in a village as I said very very traditional just normal I would say School career however at some point I decided I have to break out from that kind of narrow minded Village type of thinking and from that traditional way of life so I actually moved to the US for quite some time to California I studied at the UCSB University of California in Santa Bara and this was like shaped me a lot to get like more open-minded about cultures different places yeah I also it was back in 2004 I had a family vacation here in

9:10 Dubai it was like my parents my siblings and myself and we just like I think a 10 days 14 days vacation and I don't know why it was 2004 there was nothing here only desert right there was only no downtown no Bush Khalifa only uh the bush Dubai it was just being built it was nothing there so you were here like those pictures that I see when it shows Dubai with the desert only a few buildings kind of kind of I've seen a lot of that right but for some reason I felt like I never knew what to do with my life like really never but I felt like back then already I don't know what I want to do but I want to move to Dubai seriously that's how it was yeah call it Destiny call it whatever you want it must be but yes and then I was always like working towards that goal to come

9:58 to Dubai still not knowing what I would become so when you studied at the University I think you mentioned that you studied middle business yeah middle at business was focus in Middle East MH so um just normal business education right because with business education you can do everything yeah so that that exposure though with your parents to Dubai is what gave you the interest to move to the Middle East kind of I think I think at least not 100% sure what really led me to decided I just want to be here no matter what but yes that's what happened okay so then how did you transition into trading so you mentioned work in a corporate job yes right so after the university you were hired in Dubai maybe I have to mention that I'm

10:44 coming from an entrepreneurial family so we have back home in Germany we have a hotel restaurant business so Hospitality basically but also I never really liked hospital I hated to smile all all day long you know be nice to guest it's not my personality so I'm not a fan of hospitality so I never wanted to kind of take over Hospitality but I want but I think I have that entrepreneur entrepreneurial spirit Spirit in me my in My DNA I would say I guess and um so I moved to Dubai got a normal corporate job outside Hospitality actually in the um Automotive um sector and um I kind of also realized pretty quickly that corporate is really political yeah it's

11:32 um you're basically a slave to your desk and uh that 9 to let's call it it sounds cliche but back then that I would call it that 9 to5 grind yeah right um I couldn't relate to it yeah that golden cage yeah right especially if you have the the red race right like being in that red race yeah really when I was thinking about can I do this my whole life am I going to be happy my whole life being in that red race I was clearly saying no yeah yeah so then who came along and exposed trading to you or or or how were you exposed to trading from there well I can say now back then right because I've started a long time ago compared to most probably all your

12:18 viewers or people who going to view that that podcast back then the trading environment was a little bit different right it was not so there was not so much social media or YouTube exposure whatsoever right it was more like physical education so to say right to find a place where you can physically go and learn so I was kind of just curious and interested about trading in general about the financial Market to kind of say hey you're making good money in Dubai in your corporate job everything is taxfree so it's like and I'm not a back then I was not a big spender just like you know saving money and I was like okay what to do with that money right like how do I make it grow right

13:04 kind of um make money work for you and not the other way around right right right right and I was really curious about that general idea not to say immediately hey I want to go full-time into trading and leave corporate behind no I just my initial thought was I have money on the bank in the bank what can I do to make it grow without me doing a lot yeah yeah yeah but I also come from an educational background right study University College that I was saying to myself don't just do it yourself get some education ah yeah yeah very important I think it's a different mindset where people nowadays they just like jump into

13:51 it by themself and let's figure it out somehow right where somebody else with like a different mindset says let's get some proper education first and see how it goes before I put my money on the line yeah that's important a lot of people are maybe demo trading for five days or so and then going live maximum Max maybe my first if any day if any day my first Mentor he's like yeah uh you should stay in the demo and I'm like no I I mean I'm an engineer and I've been successful at everything I've done so I'm I'm going live you know and I lost $5,000 just like that yes I mean it's a fine line right but you can always goore live but then you know you don't trade

14:38 with like big money that money that hurt hurts when you lose because in the beginning sorry to say but eventually you're going to lose right it's part of the learning process but yeah I mean you should always start demo as you as you said and then you go live but very small amounts that doesn't hurt your W that you can still sleep at night yeah right right so how did so you working corporate yes okay you had the entrepreneurial Spirit yes the golden cage is what I call it you you're making good money but you say okay this I can't do this forever right what markets attracted you I actually had no freaking idea like seriously I was kind of even naive sorry for my language I didn't know [ __ ] back then really and I was really naive to say I'm interested in stocks okay because back then well cfds

15:24 were not so big back then right and then I was exposed to I didn't even know about FX back then and or even Futures like what does Futures even mean I didn't even know this existed that's how newbie I was like blank sheet but I think also on the other side it helped me because I came into trading and into the education space as a blank sheet without having any bad habits yeah that's another that's important no bad habits at all we all develop bad habits throughout our career but it's but it's great it was great I think that I came into that business without bad habits so when I came to that education space um where I started to learn trading I was like I want to learn stocks and they

16:09 were telling me hey do you know about FX or Futures These are nice week trading Vehicles as well no no no just stocks because I was you know very naive right um and then and I started eventually with stocks pretty quickly I realized during these stock sessions that I had that I was slowly exposed to other assets why would I trade stocks if I can trade leveraged markets like Leverage was the new term back then for me as well imagine this was 2012 2013 right where all that trading was different compared to now I was like well all these leverage markets why would you trade stocks where you need so much Capital if you can trade leveraged markets that are open 245 right no need for stocks stocks are stupid now I was going into Futures and then this is

16:55 where I really learned trading um and I was in the very early years I was only trading real Futures at the CME basically Chicago mer exchange right yeah so you actually you mentioned like uh personalized education or physical education so you actually learned sitting with the mentor looking at the screen with a mentor exactly one to one this one to one yeah I think most most Traders out there they don't have the this type of experience like what was the benefit of having a mentor well what I realized is that um there's no one siiz fits all when it comes to education because everyone has a different background everyone has different requirement different needs different personality and personality plays a big role when it comes to trading as well so I think personalized trading education is really important as well because even

17:44 if you have very good example my brother trades as well right but and we basically almost trade the same strategy or we trade the same strategy but within that framework of of rules that we have it's still personality plays a big role because someone might be I might be a little bit more aggressive when it comes to entry or he might be a little bit more conservative right it's like mhm yeah you there's no one siiz fits all do that makes sense so so now so you go you start with your Mentor how much money do you start with like your first investment and then how did it grow well um I remember my very first trade it was in the Futures Market I traded natural gas I think it was a natural gas short 60 Minute time frame 20 minute time

18:31 because I printed it out and and and sticked it to my um whiteboard because I was really bro I think it was a one to two or so I made $468 something I still remember because I it was my very first profit first life trade and it was profitable of course down the road couple of losers as yeah yeah but it was like the first trade was a profitable trade on natural gas Futures and this was a short so this I still remember it there okay so I think a lot of Traders out there may be thinking about how much they should initially invest you know what was your like initial investment the environment back then was completely different you cannot compare it to today right today I would say you don't has you don't have to invest anything because they are the prop firms but we can get into prop firm

19:18 um later on back then you needed Capital you need money to make money eventually right so and I was trading Futures so still this was a Leverage Market but not as much leveraged as the FX or cfd market so back then I would say my I think I had a 10 $220,000 account or so yeah so what like before props what was your best trade you remember like what was the best trade that was like man this is this I got it man this is this is it you don't remember no I know I think I never had like a crazy outlier okay it was just it was very consistent mhm um I'm not an engineer but I think I have that engineer mindset where I'm like really process based really

20:05 processed very important to me right everything on a piece of paper follow follow kind of a checklist and sticking to it and not like moving away from it so I never had like the big like gain that okay because of that gain I can quit my job now no okay what happens maybe nowadays with all the crypto stuff and you know like people get like the 100 eggs okay now I quit everything no it was very very very just um um just consistent in that one to two to one to a risk to reward range right consistently and this is what made me profitable okay so did you have a worst trade well there's some nice anecdotal stories about like I was

20:52 trading every day I was actually I started learning day trading right I I Tred to keep it short but I had a surgery back then and um nothing major just a surgery but um and I got back home from that surgery and was full of drugs right painkillers and stuff like that M but to distract myself I you can imagine what happened I went to the PC switched on you know trade actually it was a gold trade right okay and I don't know how this happened I actually instead of um canceling the trade I was not filled yet it was s and forget basically I pre-planned a trade placed it right um but then I I think I wanted to cancel it but actually what I did I just removed the stop loss I

21:38 didn't cancel the trade I just canceled the stop loss I remember that because then I went to bed because full of P pain I slept 4 hours when I woke up and checked on my mobile or back on the PC I can't remember I was down like I don't know 4 $5,000 and back then it was like because I just started off it was pretty much first I think it was in the first year or so I was like shocked right how did this happen how how am I even filled right and then I just um closed it manually just like it but so how' that change you like how did that loss change your career what did you learn from it it's like in general what I learned especially when it comes to trading that you have to be kind of mentally stable mentally clear and um be really sharp and if you have any other don't

22:23 compensate trading with like things that go bad during a day when you have like go to the office or go to school and you have a bad day don't try to compensate anything with trading because usually these days are the worst right so yeah yeah yeah man that's so that's that's important so we'll talk about routine and process right but you mentioned that you went from corporate to trading how was that transition like how long were you trading before you decided to quit your job um rather quickly to be honest it was like within a time frame of a little bit more than a year mhm but I was really during that year I have to say I was I don't remember a day where I didn't like practice where I didn't study where I didn't trade I was like fully committed yeah right and I had a mentor as well I was going to ask do you think the mentorship help you really

23:11 intense um Mentor mentoring program as well back then in person in person as well Prett int I think people don't understand the benefit of a mentor yeah right because you can make progress so much faster you cannot even compare it I'm not sure about your experience but having that trying to do it yourself or just from a dumb online course so to say versus somebody who really knows their craft and then teaching you personally like it's day and night you cannot compare it yeah definitely yeah in my uh professional life I've learned that one of the best investment is my own education so I think yes having a mentor has helped me cut down the learning

23:57 curve as a Trader and and it sounds like you know out um I want to stress I invested $50,000 in my mentoring see yeah I've invested about 20,000 yes so that is not cheap and you see where it helped you I mean within a year you were able to quit your your job yes now how was your family supportive of you did you have family at that time when you yes it was like a very stressful time because I got married my daughter was born or like on the way basically a lot ofn lot of transitions right but um I think also it's really important that your family is supportive so I can right my my family was my wife especially super supportive right this is the most

24:42 important thing right um so I can't really remember but I never felt negative pressure more like positive pressure looking forward to do something new to basically get out of that red race it was like all positive it was all positive I never had this negative feeling like people have nowadays that I realize that can I make it or um like yeah it's like all these doubts yeah so I never had doubts you never had to doubt so your wife was your wife was supportive you must have had like some money or some cushion maybe well yes um that's what I also teach today that I said you need to have like at least one

25:29 year of safety net in your bank account don't try to live from paycheck to paycheck because that money pressure is something you cannot disregard when it comes to hey you cannot trade on paycheck to paycheck cannot have that trading life this is too much pressure trading by itself is already a lot of mental pressure right so to master that mental game is already difficult enough if you have that paycheck to paycheck pressure I can almost guarantee you it's not going to work so would you advise that someone uh that's getting into trading first establish their like consistent income outside of trading and um so that they can have pressure have a stable life yeah have stability that's a key stability stable life everything has to be sorted again trading cannot be an

26:16 excuse for you know being or making or making bad decisions your whole life and then hey finding a way out of that kind of digging myself into a hole how to do it oh I get into trading easy quote unquote making easy money and try to get this 100x 1,000 x move and then I'm like I solved all my issues yeah trading is not for that yeah so the the the characteristics that makes a successful Trader they have to be built like maybe outside of trading it's so it's it's things that are related to life 100% principles that are related to life having a routine um discipline commitment Comm drive all this like that

27:02 sounds cliche all that stuff that sounds cliche but you need to have that otherwise you're not going to make it in the long run can you have a lucky winner can you have a lucky shot yes obviously but consistently making profits no way if you don't have these key trades that we just um talked about no way we'll get into prop trading just one last question for you here yeah so if you were building a Trader m right if you were building a CPT consistently profitable Trader right what maybe be like the five characteristics that this Trader would have to you would look to uh I don't know about five but it's definitely like you have to be able to follow rules right if you cannot follow rules some people cannot follow rules right you're not going to make it right dedication

27:50 commitment because it's a slow grind it's a marathon not a Sprint yes this sounds all like cliche and you might have heard that one million times but that's the reality that's the reality right that's the reality there's no like from Zero to Hero it doesn't work that way it's like ultimately everything boils down to one thing you have to have that business attitude that entrepreneurial mindset because even if you start with a small account you're starting your own business in this case it's a virtual business it's a trading business it's like a startup so you have to do everything basically the same way like you would start any other business right and you need to trades and if you don't have these trades to start your own business if you're not made to start your own business it's not about good

28:35 person bad person right some people are just not made to start their own business they like that safe quote unquote perceived safety net of the corporate world yeah and that's that's fully okay that's fully okay but some people are made for something different right you have to make sure you are made for this you have to have this business attitude and then I think bringing the same um attributes the same traits into that game and then you can also make it in trading because trading is just it's just another profession yeah it's another profession it's not it's like if you're doctor engineer if you're like a lawyer a pilot the construction work it's just another it's just another you know profession that you have to learn from the scratch yeah yeah one day um I

29:21 don't know a light bulb came on and I realized that I was treating trading like a hobby you know and I said I'm a professional I know how to be professional I know how to run a business so I need to treat trading as a business but I think the way that it was Market it to me like trading on the beach or just you know trading in the bed you know you see people like just kind of you know I made $10,000 on the airpl marke the marketing yeah I think a lot of people kind of come into trading with low expectations of how much input they have to put in that's true I would sign that yeah so yeah you're you highlighting that you have to run a run it as a business run it as a business um is is very important and we very important if you don't have that mindset or if you don't have that yeah characteristics of an entrepreneur yeah

30:06 then just don't do it find other ways right I mean but that's another profession if you're not down to learn a new profession and start from the scratch also go go through the bad days that's how yeah so so would so for those people that say trading is easy what do you think about that statement like trading is easy you can make money easily well I don't like the word easy but I like the word simple okay it's it's a big difference right because no profession is easy it might it might it might look easy right but it's definitely not easy but it's simple it's simple in a way that eventually you need to have your set of rules it's like a process based you follow that set of rules that checklist kind of whether this checklist is on a piece of paper in a Word

30:52 document in your mind you follow that checklist and basically then you place your set it's simple money because it just doesn't require any physical work right it's like everything is virtual right just place it on your computer the placing the trade itself it takes you 30 seconds a minute if you have to do the position size calculating as well but it takes you less than a minute that's why it's simple yeah that's why it's simple so now let's get into um prop firms yes okay a lot of the viewers on the channel want to get funded they may be funded they want to scale their accounts so let's talk about like how you first got into prop firm how did you start after this 9year career yes in trading how did you start with props well also just by

31:38 coincidence I was introduced by a potential business partner back then it was I mean last year right not back then but last year where he said hey you have to have a look into ftim Mo that's what he mentioned fmo and then I was asking what is fmo and he said it's a prop firm and I was also reluctant to look into prop firms because I was first introduced into prop firms 25 26 and also back then the environment was completely different there were like a handful of prop firms mostly Futures prop firms they were like proper day trading prop firms you were able to trade a handful of products you were only allowed to hold positions for one day not even throughout the weekend just like for one day you had to close it on the same day and the rules were ridiculous so I was like looking into

32:24 that back then I was like no way this is just not sense right you cannot be with these rules and and I was I was like never looked back into prop films again and then this this guy introduced me to it and I was still reluctant to look into it but then he somehow made me to look into it because he was mentioning it all like constantly look look into fmo look into fmo and then I was looking into it and I was looking at the website going through the rules I was like okay this makes sense oh this also makes sense or you can trade cfds nowadays you can hold even over the weekend you can you you have like no real limitations because for me it's important that my trading style that I do with my personal account I can easily transfer into the prop trading world and I don't have any kind of limitations once I have one

33:11 single limitation I would not do it yeah yeah so and then I realized I don't have any limitations so give it a try and this is how where things start rolling okay okay so it looks like you had an instant success with props almost it was instant yes but considering all my experience it was I was not a new I was just like okay let's buy the first challenge let's try how it how it goes 200k pass it verification pass it oh I can even Max it up I can do another one I was like oh cool do it again was Max allocated and then going from there I've talked to traders that have a creative approach like they look at a batch of accounts and they sort of trade each one aggressively to get to the funded stage but I think your approach is a lot

33:57 different can you elaborate on your process yeah it's pretty simp again simplistic right um I've tried different approaches just as a kind of for me as a case study that any approach that I'm trying to do works right um but he the best approach for challenges and verifications in general I find is that kind of 2% risk per trade with a one to1 risk reward ratio so on challenges you need like um 10% 8% right let's say 10% and then you need like 5 winners with 2% risk one to one and you passed basically the the challenge right and this is the approach do you change when you go to phase two when I when I first started to

34:46 do my challenges I I changed to I think 1% okay but now one to one one 1% one to one because you only need 5% right and you have like nowadays what is more like industry standard they remove all these trading day period right now even ftmo removed it right but when I was doing my first challenges it was like 30 days in the challenge and 60 days in the verification stage so how would you approach it now with the unlimited days would it be different for me now because I have so much confidence and I'm you know like I'm just doing it the same way right 2% also verification I have so much confidence and I've done also these um live trading YouTube Chan documentaries I don't know if you have seen it where I record every day and you

35:31 know show the people every day like what trades I took the day before and you know how I'm and it's just like for me now it's actually even it's fun you know it's I see these kind of challenges and verification kind of it's almost like a competition yeah and I'm a very in general competitive person yeah so I like competition so it's like kind of fun you know a way so yeah you were on the leader board like three consecutive months was that was that design right was that okay I'm going to make it to number one or did you just step in as a experienced Trader and you I never like this I really didn't care like um it was cool of course right yeah um or did you like maybe you hit number one one month and you said hey

36:18 how about I do this again maybe subconsciously as well I was yeah yeah subconsciously definitely um but I'm not like super intentionally it was just like taking the trades during that time that uh I was not taking more risk just to stay on the top or something like this right taking more risk no no I didn't do any stupid things just to be in that top top one leader board right I didn't just like just taking the trades that I took anyway right with a normal risk profile this is interesting because you know you can see traders that may be like one hit wonders you know maybe they get a funded account they go to the leaderboard and some of the prop firms you can see the trades that they take just one trade 20% you know don't you see the trades um but it's interesting

37:04 that you already have been trading for 9 years meaning that you've developed a Playbook the psychology needed the mindset the risk management you developed the execution that you needed I think about this uh this formula input times leverage equals outcome The Leverage is the prop firm account yes and then the input is that nine plus years of experience yes hard work process routine Etc skill you have the skill and then the outcome was over 175k ftmo alone leaderboard Etc right so I think I want to hear about like what was going on like what did you trade um but the skill is something that we'll we'll get into uh a little bit more show the audience how much you actually put into the craft how many hours a day did you

37:50 study did you study on the weekends and and things like that like what what kind of process do you have when it comes to just building the skill you know besides the mentorship the mentorship is a very important aspect but then like Kobe Bryan or Michael Jordan these these figures they have the top trainers but they have to put in the work that's very if I can just elaborate and jump in here because this is so important you can have the best Mentor in the world you can have the best strategy in the world I can teach you everything I know about trading but eventually you know the skill itself you have to develop by yourself by putting in the hard work right because eventually you have to press the button yeah I'm not pressing the button for you and when it comes to pressing the button people do stupid things they move stop losses they maybe

38:36 they're scared to enter as well they risk more that they can cope with and all all these things we all know about right So eventually pressing the button you have to do yourself and this is basically where people fail yeah so what does building the skill look like for you is it back testing is it replay like some people use softwares to replay the bars to help train their mind to see the charts is it just marking up the charts showing up every day yeah I mean right now I'm I'm not I'm not yeah in the past I'm not building skill anymore I would say right I'm just building more um mental and psych psychological stability mental and psychological stability that's forever that's forever because trading is never stagnant because you

39:23 slowly increase your funds by increasing your funds you also increase your risk and by increasing your risk it's a different stress on on you mentally right trading $100 risk worth is $10,000 risk is a different game and you have to get there slowly right and having $110,000 risk per trade versus $50,000 risk per trade is also different stress on you mentally right you have to get to there slowly as well so this is what you have to build like throughout your whole life right but building like the let's call it quote unquote technical skill um back then it was just showing up every day and observing the charts right again I I can only stress I think there was not one single day also not during the weekends where I didn't just open my

40:10 trade station and um check my charts and do some just you know drawing lines checking what if there are any patterns in the market right just observing the market move and this is basically then how you on top of every on top of everything else the mentoring the learning the the theory and just like showing up every day and doing your thing right you're like a mental athlete yeah this right so you said you said even the weekends you're looking at charts there's yeah yeah there's no secret tool that you can use that is online that builds skills that that builds skill faster right yeah yeah let's talk about your trading style a little bit yes now right so what trading style like fits you the most like are are you scalper inaday swing Trader

40:59 let's not talk about sculping yet I have my own opinion about that but we can maybe push this to the end or so but let's focus on what I'm doing right so I think the public would refer it as swing trading we call it um weekly income right where my execution time frame usually is a daily chart so but I have a two-step process a two-step mechanical process so I look at the first step is basically getting biased into market so let's assume I'm looking at the doubt the in Futures at ym or the us30 in cfd language right so I look at three fundamental values first right we can get into the details later there as well if we want to and if you have time but I'm looking at three fundamental values as well that we basically we develop

41:44 proprietary indicators right these are three proprietary indicators that I look at that are derrived from fundamentals they give me a bias whether I'm bullish on us 30 bearish on us30 or neutral yeah if I'm neutral I don't care about the market at this stage if I'm bullish or bearish I'm going to step two and then I time the market right Market timing because fundamentals with fundamentals you cannot time the market right but you can get biased into one direction or in a potential turn in price you can add your probability for an outcome and then you go to step two where I then time the market then I use

42:31 obviously technicals to time the market which I would which I like supply and demand but sometimes also add a little bit of sprinkle in price action and stuff like that but it's like then timing the market where I place my timing the market um AKA place my set entry stop loss Target I use mostly supply and demand and like some little bit of price action yeah that I like that so I think this two-step process is very interesting to me because when I first started I I jumped to step two I remember I was trading U GBP uh nzd and I was getting Beat to Death I'm taking buys against a downtrend and it's just consistantly downtrending and I'm looking for double bottoms you know you

43:16 know um when I look back at it the pound across all currency crosses it was on a downtrend just because fundamentals right what was going on um with the UK you know that first step I think a lot of Traders are missing that bias The Narrative understanding that can you talk a little bit more about that how did you start to trade like that you don't come up with all these things by yourself right you get exposed to it right some ideas and then you basically develop on top of these ideas and then you build on you build on top right basically I think I think a lot of Traders are intimidated by fundamentals because the problem is with fundamentals in general fundamentals right um they're not objective in trading to be successful to be right you have to be first of all you have to be

44:03 objective and then you can become consistent and then you can become consistently profitable but first and foremost you have to be objective because everything else will fall apart if you're not objective so Fundamentals by Nature let's take um um earning report a earnings earnings report is never objective it's subjective to the one who is reading that earning report it can be super positive for you but some for somebody else is like mediocre for somebody else for some um investment firms it's like super negative for whatever reason right and we don't know the reason but these reports whatever comes out even um sometimes interest rates can be right we have seen price going up and down and being really uh

44:51 volatile um erratic price movement very erratic because what play a role here is the perception of people right so what you have to make sure is if you add fundamentals into your strategy that you can somehow plot them on this on the chart and you make them visible objective very interesting and once they are once they become objective you can incorporate them into your strategy otherwise I would never recommend to use fundamentals because they are subjective in nature wow that's amazing so you've developed a tool that helps that's made fundamentals objective some some in some way right in some way yes okay that's interesting and people can take

45:37 advantage of it by joining your yes but exactly and I'm I'm showcasing es just especially right now in these YouTube challenge documentaries where I elaborate on why I take trades and most of them because of the fundamentals right all of them played out nicely because of the fundamentals and I explained that also in these YouTube videos so yes they can just watch it and yes yeah without giving too much way of the proprietary tool how do you make fundamentals objective uh yes then I would give uh okay okay way too much no problem but it's proprietary so but basically so how it works in general like I'm not a quarter right I I cannot quote algorithms right but we have

46:24 people that quote this stuff so we elaborate on an idea we come up with an idea and see if it's possible to get into like um um into a coding language in this case um they're coded in um trade station easy language it's called that coding language that they Cod it in that way and it pulls certain data because everything needs to pull data right you cannot just like create an algorithm without data so it pulls data and then it creates that kind of visual yes and visualizes it can plot on beautiful that's beautiful I'm trying to build my own um tools and and like indicators you know for the like it's a tool but people may think of indicators right just but something that is V that visualizes some sort of uh signal for me

47:11 just for my own strategy if I can jump in here yeah the term indicator I'm not a fan of because indicators what people refer to indicators are know the conventional wisdom stastics RSI Binger bands moving averages so if all these tools were so great why are so many people losing money right just I'm I'm trying to use just common sense if they work so beautifully why is everyone struggling and not just sitting on a beach tring righta taking this approach use common sense so and indicators are lagging right why are they lagging they're derived from price so price has to move first for this indicator to move as well so your always lay to the party yeah

47:58 yeah you get my point absolutely yeah so that's why I don't call we call this either forecasting tools that we are using or hybrid AI okay I like that so when you say forecasting you're using past data to forast the potential of a move yes okay and then one p fundamental data not price because past fundamental data it's important what drives the market price can never drive price yeah that's a miscon conception price cannot drive price it's fundamentally wrong fundamentals Drive price and then you go into Market timing and then you can time with technicals because you have to be precise yeah so for the people that argue that fundamentals are a BS yeah they say that fundamentals or BS there's maybe um we

48:45 know that there are algorithms that are running that these big uh institutions are running algorithms so they say the fundamentals have nothing to do with it these are these algorithms are running regardless of fundamentals what do you what would you say to that those it's obviously nonsense look just at interest rates right of course they have an impact if the market goes up or or crashes like the US Stock Market right the equity indices interest rates play important role right so some of one of our tool is derived from the interest rates the treasury bonds right these are all correlated markets one affects the other and that's why I always say you cannot only Trade One Market well you can trade a handful of markets but you have to be an expert of the financial Market as a whole as a because everything impacts each other yeah so on

49:32 that piece you said trading one market or a handful so there are some that argue one time frame one instrument and that's it well I again I call this I would call this uh sorry for my language BS complete BS again I I've never seen I've I've never seen in my entire career a successful Trader who says I trade One Market one time frame because again you have to become an expert in the financial Market there corelations the correlations right the cross Market correlations very important right treasury bonds versus the stock market for instance right if we stay into in in in that in that field because it's really interesting right the stock market what's what's about to happen next and the equity indices because a lot of people are might be interested in

50:18 this that as well what affects the stock market and so on and so forth if you don't understand that you cannot like become consistent okay so you're trading whatever is in play whatever is in play right yes whatever opportunities are there you're trading it so during your your um your 175k with ftmo you traded a different like different instruments whatever was in play or was it like a handful of instruments at that time time well whatever was in play but during that time I was like Equity indices Commodities gold I think um and stocks I like still to trade stocks and nowadays right you can trade C IFD stocks and I still see people avoiding that because they don't know a lot about stocks I feel like um I don't know why that is I

51:05 still didn't figure out why people are so drawn into FX like when I say FX like Curren right um because ultimately cfds they fall under the pr of FX as well because you trade them so let's say currencies they're so drawn into currency pairs especially these cross pairs you were mentioning you were trade some British B new soon this is these are the worst yeah these are the worst I why why why so why are they the worst first of all these cross pairs they're derived from the major pairs so if you trade as you said right if you trade British pound New Zealand dollar you have to look at the relative strength theory meaning you have to look what the major pairs are doing because it's just derived from British pound US dollar versus New Zealand US dollar versus

51:51 their major Pairs and and the British pound New Zealand Dollars moves accordingly right it's like you add addition an additional layer why would you do that right so you have to you have to be looking at both economies exactly US economy actually you have to look at British pound us do New Zealand actually you have to look ideally you have to understand what the British pound US dollar is doing what New Zealand US dollar is doing what the US dollar Index is doing and maybe at the correlation Euro US dollar because it's just like right the US dollar is just they're so correlated together yeah so you have to keep it with all those economies that's why I personally don't trade the only thing I don't trade is cross pairs because I couldn't care less with the stocks or indices um Equity indices right you're you're watching interest

52:36 rates US economy exactly mainly right and the treasury um uh bonds right bonds interest rates and Market cycles and Market Cycles right so what about people that say that one instrument has its own characteristics right they might have but they fall under the same principles of fundamentals at the end of the day right so with that set of tools that I'm using right you just um you can trade all of them basically right for some of them let's say where I we call it um smart money index which is derived from some data from the Futures market right um and um in the Futures Market there are three

53:22 parties involved you have the producers which is the smart money you have the hedge funds which are the trend followers and then you have the retail money which is quote unquote a dumb money right and you can because um legally in the Futures Market all these parties right they have to report this data C board right you know you you're aware of that right so we call that and we derived some indicator for that let's call it now indicator for the audience um which we call Smart money index so we know what the Dum money is doing the smart money is doing Etc right so that smart money index for some markets it's more relevant than for others like for for Commodities it's super relevant and it works like a charm versus the equity

54:09 indices they the market cycle and the valuation versus the treasury bonds interest rates is more relevant so yes they have their own kind of life cycle or their own like uh they behave differently and you can focus on what is more important um to One Market than another But ultimately you use like all of this information to um come to a bias yeah so just makes sense no it makes a lot of sense so once you have the fundamental bias then it comes down to price action how's your execution like at time of execution what are you doing you know all my trades are pre pre-planned much in advance yeah so let's say now coming back to the it's it's a good example coming back to the US equities right um to use 30 so right

54:57 now if I look at the fundamentals I know at I know the market cycle we are in Pre in a pre-election cycle meaning the market might bottom not between so we are now it's 25th of October right you said the podcast is coming out somewhere in November so when the audience will hear that I'm long the Dow Jones I can say that already okay so but now today is the 25th of October so the the market might bottom in the next let's say 1 to 2 weeks all right because of Market cycle um valuation and so on and so forth yeah so I'm structured already where I basically

55:44 I haven't set the trade yet because it's too much in advance but I could potentially Now set the trade where price will eventually go if price will go there we don't know know right but where it's like for me based on my tools based on my experience based on my skills it's very likely to go there right and I could now execution daily time frame place that trade and yeah don't look back I got you right so you have that overall bias that overall narrative so you mentioned weekly income right so people trading call swing trading why why do you swing trade over the other um types of trading I find it for me so I started to learn in day trading right um and I think it's also

56:30 quite important that people get exposure to the market and see how price moves and you know um so learning starting to learn day trading so not to misunderstand scalping with day trading all right so scalping is we just put sculping in Brackets because that 1 minute to 3 minute time frame is all Bs nonsense all right so when I say day trading it's like like maybe 60 Minute time frame execution 120 okay 240 minutes right so between that this is this would be day trading so I think it's important in the very beginning that you get exposed to this as well if you're new because you learn a little bit more about price action quicker yeah you have more to observe more to observe versus now me waiting for the Dow Jones

57:16 another week right or so right to get into to get filled right um yeah you want to have like learning experience not just sitting and waiting right but once you're skilled it's a different story now um coming back to your question first of all that's Swing Swing trading is way more practical right it's when it comes to trading it's never about Al also what people misunderstand that and I find this still I don't know why that people say I have to take more trades to make more money that's quite nonsense it's never it's never about quantity in trading it's about quality right and once you're consistent what you do you just you know you scale yeah you get more funds right yeah you you take more not necessarily more

58:01 percentage risk but you can stick to 1% but you need more funds right this is how you scale you don't scale by taking more trades or taking a different approach to your trading plan no right because quantity makes you I don't know if you can if you share that experience the more trades you take the more stupid trades you do and and take and and the more mistakes you make and you cannot find so many high quality trades out there it doesn't right yeah that's a that's a good point that's a good point so I have a concept that I teach is uh the Playbook right and I have the concept of the a plus setup or a setups right so uh most of the time like I have a documentary as well docu series and I'm I don't I only take maybe about four trades to pass the challenge but these are I'm waiting like so people see like there's time between maybe a few days

58:47 between like each trade right you're waiting for high quality I'm waiting for the high quality right so question for you you are spreading your high quality across different markets all markets except crosss that's how you were able except the crossair what you said are dumb right um so but that's how you also are able to take more opportunities right if you're only trading us30 like I was in the beginning I learned discipline and learned how to wait for a setups with only us30 but I realized that I needed to broaden up my uh opportunity so I started to take a setups with more markets like maybe I'll trade gold maybe I'll trade other instruments if you trade one and you have your a setups

59:33 maybe don't just start to take stupid trades on that one instrument that you're trading maybe look at some other instruments um take your show on the road I also think that your rules that you're trading yeah if they're good rules right if these rules make sense technically fundamentally whatever if they make sense they should be applicable to all markets yeah do your your rules ever lose Edge uh no we why we had this discussion already yesterday a little bit um no because this would mean that the way how the market works the market mechanics change 180° the market since it's existent works the same way right the market the mechanics of the market never change so if they lost Edge the market would change

1:00:20 fundamentally the market we would have much bigger problems if the market all that changes and you know vanishes or whatever happens you know yeah the world would would go down it would be Armageddon right so that's why Market mechanics never change right okay and is that because your rules are based on they start your bias starts with fundamentals so when I hear so you've been in the in the game for you know 10 plus years like when people say the market changes do do you see any like differences in how the market moves like I I I traded us30 for maybe about 3 years now I can see it's choppy at some time I can see we're on a bull like co co came massive drop and then a huge bullish run after that right so you do see those types of things right though

1:01:05 right depending on what's what's happening so when you say it doesn't change what do you mean by you know the market doesn't change so let's let's first um because um let's go back quickly because um I said why people should get into day trading okay but um why swing trade why I I think I haven't finished that yet people might ask why is now swing trading better than you know it's way more practical in general right in the sense of It kind of fits to the people's lifestyle because everyone is busy right everyone has a job everyone has family everyone has social obligations right doing day trading by its nature is like

1:01:53 literally running almost almost a physical business because you have to show up every single day during a particular time right and this is not feasible and not practical for a lot of people out there for most people out there right I mean you must agree with that so you have to do something that is because not everyone will do full-time trading at some point of time right this is also misconception that people say only if you're a full-time Trader you're a good Trader it doesn't make sense some people they are super happy with their job they just want to have a side income a plan B um doesn't mean you're a Trader and eventually the end goal is full-time trading no some people are having businesses their own business physical business whatever it is they love their job they're in their job they're like experts in their jobs um they're doctors

1:02:40 right we have a an ouro we have a dentist and that's their passion as well they just want a side they just want to have a side income on top right so that's just to make this this um clear as well and the best way and the best practic way for people to make a side income is definitely swing trading right and also for me because I have my own business our license investment consultany and I I also nowadays I don't want to be stuck in front of the screen right so um so I can have more we call it the one hour a day mindset it's just like um it's not literally speaking one hour a day right it's but it's just like being not clue to the screen and also not um being at the screen at a fixed time you can

1:03:25 always place your trades as I just mentioned that us 30 trade right I could place now I could place tomorrow whenever it comes into fruition I'm not kind of the screen doesn't dictate when I'm in front when I have to be in front of it so it's way more flexibility more freedom yeah I think I think some people think that swing trading you have less opportunity but but again it comes then it comes back to you take only how you would say it A+ quality setups and if you want to make money and again please to all to the entire audience if you want to make more money you have to scale up your business MH that's how that's how business that's how business works if you want to make more money scale up your business get a different branch right open up another Branch yeah

1:04:10 hire more people right but here if you want to make if you want to make more money in trading the only variable you have to change is the funds and with prop firms coming into play then you do another then you if you're at 200k and you are doing well don't change anything just add more funds on top but just continue with your trading you know what I mean like that's like for me like a major rule you should break so I wanted to really stress I have to ask you about scalping because we have a lot of people that love SC let's get controversial so yeah so tell me we have a lot of people that like scalping right but you 10 years in the game again so you're you're seasoned right so tell me your your uh opinion of SC sculping I I also in some of my videos I bash a

1:04:57 little bit of sculping and um to all skypers scalpers don't take this personal right don't take this personal but somehow it feels like in my comment section they they take it personal but but it's somehow the nature of scalpers they a swing trer would

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