Transcript for:
Trading and Risk Management with Omar and Five the Mentor and the Student

no matter how good the setup is it's in the end risk management handles everything I see some people they have different technical strategies when they're in a draw down do you know how ridiculous that is the only thing that you're going to manage is just the risk approach this is a retail concept like people going to lose their [ __ ] I took from a retail guy that I I'm in a chat with they really use [Music] like hey guys before we get into this incredible episode of words of wisdom I want to let you know how you can get a free trading plan very simple go in the link below you're going to see two links one for telegram there you'll get free mindset hacks a free technical course free updates and polls on the podcast and then the other link is our new email newsletter click that link sign up you'll get a free trading plan PDF sent directly to you and get incredible value all week long let's get into this episode welcome everyone back to the words of wisdom podcast the number one podcast in the trading space thanks to all of you and our incredible guests what we try to do here is get you as much value as possible from your Traders from across the world the best traders in the world and uh to get you profitable consistent getting Capital getting funded whatever it may be progress most of all and the way we do that is have incredible guests like I said so it's a it's a great moment today great moment it's been a long time coming you've been requesting this for so so so long and we finally have Mr Omar mbb back with us today and along onside him five the mentor and the student it's incredible it's going to be absolutely incredible well Omar we'll start with you of course which is where have you been you know what's the craziest thing about it is I think it's because of my lack of like social media presence I've done the same thing since the the first episode it's just uh I just think I didn't really capitalize on the social media aspect I don't really plan on to but yeah um I I get the odd message here and there like people find my telegram my username I don't know how I think from my Twitter oh that was you and R's podcast and then a month later when I get back to reply like oh yeah that was me in that video and then conversation ends literally it's incredible though I know everyone's always asking me like what's this guy's Instagram I'm like he doesn't have it you know what is I have an Instagram but it's like well I don't even have it anymore cuz I got a new phone and I don't have that login it's a whole different number I had one but it's like it was just like a personal account I don't have like an mbb uh even Twitter look my Twitter yeah look I I still even got this I already showed you even my Twitter I don't even I still have the Bird app it's not even it's not even X yeah it's not even X I still have the Bird app I don't really you got Twitter mate you hacked it yeah I'm not really one for social media man but where does mbb come from I don't know if I asked you on the last one you the craziest funny thing is nbb was U my PlayStation clan tag always the PlayStation it was a PlayStation clan tag I don't even remember what it stands for I I remember a friend had it and then um I had it and they just kept calling me nbb how does it feel like everyone calls you mbb they just call me mbb now yeah even people now they call me uh mbb uh some I've got recognized like in like um the gym before and someone came are you um nbb it's just so weird like I just forget like I'm like my name is Omar and then um I was like yeah that that's me from the podcast and then yeah just start speaking trading whatnot how does it feel though to see what happened like we we didn't know like this is this was my I'll give you my perspective what happened on that day yeah or that that week I remember I did the Raja episode Raja shat on SMC right amazing episode did it really funny everyone was like outraged right ICT tuned in he was like this guy I don't know what he's talking about Etc I remember you dming me or you dm' me once or tweeted me once saying let me uh represent ICT or the smart money community and it was like I don't know who's this guy I don't know yeah I left it and then loads of people started uh tweeting me like get om more on get om more on and then I remember you saying I'm in Dubai at the moment and I was in Dubai at the time obviously I didn't live there I still don't live there a lot of people think I don't live there as all people think that I live there I don't live there I'm from London I don't know why is do you think it's because we take pictures of it and everyone's like that's it I don't think I even have a picture in the back I think it was just that podcast probably yeah we're both in Condor but um but anyway you said you're in Dubai I was in Dubai I was like why not I'm in Dubai why don't we just do it yeah what's the worst going to happen we just do it so we book it we do it and then you were running like late yeah and I was getting pissed in my head I was like who is this guy he's late and then I also assumed that cuz I was outside the studio and there was like this curtain was drawn the door was closed so I thought they weren't there so I was like he's late they're not here [ __ ] this let's just cancel it I'll go home that was my mindset then you turned up and then I then I found out the woman was inside the studio the whole time as well okay let's just do it and then you probably if anyone goes back and watches you'll see my face I like that in the beginning I remember from my perspective yeah um what was it something made me late I don't even know what it was it wasn't it was traffic Dubai traffic it wasn't even Dubai traffic bro I don't even know what it was I mean you m injured himself I remember that yeah oh yeah oh my God if he's watching this I say his name we went we went the day before yeah we went quad biking yeah and um I was at race me and um never you know you get Junes in it and I'm hitting the June I'm hitting it fast but I'm breaking on the top of the June I see him I look to my left I see he's full throttle and then I go over the June I see him he's over the thing he broke his hip I think that's what Del me but then from my perspective it was like um we went there and I had no following I didn't have no nothing I think I had like 1.3k followers yeah uh that had not like really nothing um and then we went there yeah you were pissed I could you know you could sense the guy's energy like like I could sense the energy like yeah he's a bit pissed and then speaking and then I think it just blew up because it was like um cuz everyone speaks about smart money but you know like no one really talks about the stuff that we were speaking about like actual like who can be potential smart money like uh like the people behind it you know who who's actually the who who's playing the game like who who's the participants of smart money not really went into that stuff and even something like now yeah like you know a lot of uh time based things have come out since then uh like one thing that I said was like the 8:30 thing and that's the real thing the fedwire injection that it's it's on the chart you can see it 8:30 a lot of intraday setups come from there but I think uh some people take it too serious now man some people went like um you know there's like this uh timely courtly Theory thing that is uh I think that's a load of nonsense uh if it was that easy like it's just a power three given um they call it amdx it's something from ict's old forums in it m and um they say oh yeah you just need to split the times up and then in this time window you get accumulation this time window if it was that easier you'll get like five power you can clean up in every single day but it's not like that like you can you can definitely uh predict an AMD if you know where likely candles print is going to go that let's say 4 hour is going to open it's coming from um sweeping the previous week side one candle wicks and then the next one's going to open you know that's going to probably trade lower right then you know you can get more accumulation wait for run higher then lower for the me of the full hour that's when it's useful but these people going in just time of day accumulation you're going to get slaughtered on the chart man do you think like the the sale of certainty is what they go after is like okay we have this such intricacy on time we understand the time so well that it's as you say it's like if you if it was true you'd be cleaning up 24/7 people got the wrong they're chasing the wrong thing man and I made us I think I made a post I think this was my last post I made on Twitter before I don't really use the app anymore people are treating trading like it's like um I don't know if you ever play Call of Duty Zombies easter eggs yeah like you know like it's a proper complicated you have to do this step and you get to like a boss battle yeah I was like people are treating this like as an Easter like ict's technicals they're complicated enough but people are just over complicate cuz the thing is right you're trying to make uh a trade plan an approach to trading in the most simplistic form you've got quirky kind of sells but simple doesn't but it simple is the most effective thing but when you tell people it's simple you know trading already people think it's complicated so when someone comes into trading and they hear something that's simple they're think no this guy is just he's just talking when they hear the complicated oh yeah this guy he knows what he's talking about cuz I'm going into a complicated industry he's talking all this complicated stuff he's right he's wrong it's not really though cuz when you come full circle after a year or two you'll realize oh you know what it is like it's as simple or as complicated as I want to make it you see my point I see your point 100% And I think it's a it's an interesting point to make because as you say most people fall into that trap and I think they fall into it more and more and I think it's part of human nature that's why like it's like what has a good salesman done it plays into what you want to hear what you want or what you think you need versus what you actually need and therefore by telling you like here here's this complex system that allows you to unlock the code of the market and therefore you know everything right you know the exact time a trade will take place and a movement will take place and you'll know it from the higher time frame all the way to the lower time frame I get it now I honestly get it and we see it unfortunately like don't get me wrong I also see people when they respond to the people who sort of sort of promote these things they respond well they're like it help my trading and it doesn't necessarily mean that something could be untrue and it can't help a person which is a weird thing to say because you wouldn't expect it but I think it's because sometimes people can kind of have um reinforcement even though something might not be true or right it's just because they've had this reinforcement from someone it's just giving them a bit more confidence in the market and that's where that feedback comes from I I think you know what it is with all these new Concepts coming out on Twitter whatnot right you see there's a new training strategy coming out like every other day and by the way if someone's coming out with new TR trading strategy every day it means what they had before clearly isn't working it's a Telltale sound um it's it's just a it's just a ego battle it's just a muscle measuring contest like oh no your one's crap my one's better no your one's crap my one's better oh what I had before is not as good I got a new one that but this because people think the edge is in the technicals The Edge is not in the technicals cuz I I made I made this argument all the time to people if the edges in the technicals right look there was um I was watching the Joe Rogan podcast that was a a physician on there and what he said is he he he na hit the nail on the head what he said was everyone can become a um a top level coder everyone on this planet has a capacity to do it but now some people they will get faster than others just because academically genetically they're a bit smarter cognitively they're just more ahead uh the people that are slower it will take them longer but they'll get there you can apply the same thing to technicals anyone can learn all of the ICT technicals yeah but not not everyone will have the same uh results because it's like this right so you can take Arnold's gym plan you won't look like Arnold anyone can take uh who's the new Chris bumpstead anyone can take his gym plan anyone can take his diet but you're not going to be the animal he is in the gym you're not going to have his discipline when he goes home and eats it's like this like I'll use my cell phone example I know most people they can't be as as cold as me when I take a loss or a win like that's what keeps me afloat like I know when I'm going to mess up I know exactly the days I shouldn't trade I know what the daily chart looks like when I should avoid it um Trader Dante I'm a big fan of his and I know it's kind of crazy because him and I are like Arch Rivals but he has a thing he he says his edges he knows when he's one step away from being a [ __ ] and he's like your problem is you think you're one step away from being special but that itself just knowing that one thing to like Dodge all that potential damage that you're going to incur from taking that City trade that can be an edge just in that it's just I think it's the mindset you know people they're not critical they're not they got technicals and that's that's where it ends there's no other substance there there's no critical decision making do I need this trade is a better trade setup going to come where am I on my challenge can I you know like can I just wait for a better day where am I in the week is it Tuesday H if I let this Tuesday candle print is Wednesday likely to give me a potential better trade setup that's like now I'm you're starting to go from an okay Trader like an average I say that's an average right technicals no technicals your average it's when you can apply that type of approach yeah that process like that critical decision making that's you're going to cross the bridge you're going to start getting better that's when good things happen like from experience as well one thing I you touched on earlier in terms of the switch right right of strategies when we spit you're doing power free yeah is that still the case same thing so now I I I was day trading right I've been swing trading for like the last year it was a hard switch but now I'm kind of in my element so what I do is right so when I was day trading simple I just bumped the time frame up there so as a day trader look even this this can turn into like a long long conversation like you see people don't even know what their goal is in trading as a day trader what are you trying to encapture in the day a full hour candles expansion or the meat of the daily expansion but people don't that people go there with my model my model my model what are from your model what are you trying to accomplish right a two to one in one day just what like this is what I'm saying so when I was a day trader daily candle and I need to nail that print so what I realized was why I made a switch and people that follow me online or whatnot if they do they know that I I'm good at nailing where the next daily candle can go now I can't nail it all the time but um when it's predictable to me I can knil it most of the times like I I don't really get it wrong when I have a go at at deciding where it's going to go higher V lower so as a day trader I was using a daily directional buyers and I was 15 minute from the opening price I'm trying to get manipulation above it if I'm bearish cut through it and then I'm waiting for like a fair value Gap optimal trade entry I'm literally waiting for an optim optimal trade entry if it comes it comes if it doesn't it doesn't now when I'm swing trading I'm entering on the 4 Hour daily and I'm trying to capture the weekly monthly expansion uh it's a bit tougher the thing that was tougher is you see right now like currency I don't know if you checked the high time frame it's like choppy so I had a big I had two trades that will going so well for me it was a ukad long and a Euro USD short I think it was like two months ago uh or a month ago and um well I don't know when this is going to be posted and then um it was going so well and then CPI and when you swing trade you can you can afford to hold through these um you kind of need these you need these big events to be honest because my stop loss is like on average like 40 50 Pips so what I try to do is this right the next day is open I'm hitting it if I'm saying if Tuesday swept Monday's low and I'm I'm and I'm assuming it's going to be a British week I'm hitting that Tuesday Wednesday open My Stop is going on Tuesday now this is this is the catch right and this is a retail concept like people going to lose their [ __ ] this is a retail concept I took from a retail guy that I I'm in a chat with let's take a break for a minute there guys because I want to tell you about the best prop in the entire industry Alpha Capital let's keep it nice and simple you want to get paid out you want to have institutional experience behind the firm you want to have their own broker so that you can trade on the best platform that all Traders love to use and on top of which they have their own technology as well so you know they're here for the long term Alpha Capital has no commissions as well as part of their trading conditions which is absolutely incredible and not only that they're London's finest now if you want to join them 20% off using the code Riz and the link is in the description below now let's get back to the episode they really use like adrs daily ranges they're big on that and they Place their stop losses based off the ADR so I'll give you an example ADR for EUR USD right now is very small like 70 Pips like there is no volume in currencies right now right so now my stop loss is under the low of that Daye right and it's like 50 odd Pips now a Jude if the day 0 range the if the 80 or 70 Pips a Jud swing is not going to come in at 50 Pips The Jud s is going to come in at 25 Pips so if my stoer is getting hit at 50 Pips which is close enough one ADR I need to just Target like two adrs so like a two to one basically or average up like a 2 to one and then yeah that's where my take profits on then yeah C the other way long story short but went back into a monthly consolidation Ione want to catch like a I thought I kind of CAU like the low of the Year type thing I'm going to run it up I even gave that call to my group people in the same my swing positions I I used to told I'm I'm taking a swing hereit they take that as what if they want to take it uh yeah I think we all got stopped at break even there yeah talking of group which is interesting because obviously that's why we have five here as well I've had the pleasure actually over that year so going back to my perspective very quickly is like we did that episode I was pissed at the time I thought ah it was a great episode though I remember when we were in it I was hearing you speak and it was you know a lot of certainty talking on topics that I haven't really spoken about before and then when the episode released it was just insane it was like the craziest thing i' had experienced obviously the channel started to really grow massively as well off the back of that constant feedback even to this day about nbb get nbb back that episode has changed my life comments always coming in consistently as well and that's one thing that's incredible on its own obviously the impact it's had just on social media but then during that time obviously I it's met five I've met Diego I've met um Riyad all of which are your students so it's been quite the journey even just for myself as a spectator and then meeting people off the back of that who've been through your community which again You' never pushed on the Pod you never pushed on social media and you're not even a social media guy and yet the impact you've had not only in terms of the views but then also people who' have actually come and learned from you and then them getting considerable payouts and consistency what would you put that down to I don't accredit all of it to myself I wouldn't even accredit 50% of it to myself I credit it to them man like there's been I've had people come in and go like honestly I've had people come in and go uh I've had to make it kind of harder to get in because I I I don't have to deal with like uh the average do you see my point it's not I'm not saying oh I'm some so great how can you it's not even that it's just it's a headache it's a waste of time for me and them you're wasting your money I'm wasting my time type thing and my resources right um so yeah they like the ones that you mentioned right so Diego rad five there's even more than that um there's people that so those are the ones that done the prop firm interviews right there's some that have denied the prop firm interviews but one thing about them is like they're Relentless like do you know what I'm saying they're Relentless like all of them taken their own setbacks um I've spoken to all of them I know they've all taken their own setbacks they've lost funding they had to get funding back mff hit Riad hard I remember when mff went down he messaged me that bro I literally just got fed with a Max and it went down I remember remember that um but they listen like some people come in and they try to say I'm not saying like I know better than you but I'm saying you're coming here to kind of take away from me right I'm telling you do it like this and you're doing it like that what you know like it boggles my mind I'm saying like so we have like a structure it I'm saying you need to do one 2 3 four five and six MH and then we can start working properly we'll start making a plan together and I'm going to tell you exactly what to do and then um the specific back test whatever and they can't do that and I set like I'm I'm proper on it like I have homeworks and they're put in specific places in the thing so when they come to me say I'm there I'm like but where's the homework they can't cheat it I promise you they can't cheat it cuz I say where's the homework there's one homework and it's so long and it's tedious it's you have to go it's chapter 3 lesson two you have to go and make an Excel sheet for how many times uh the high of the week and the low of the week was made Monday Tuesday Wednesday for the whole year of the current year we're in 23 to 24 back then it was uh 22 to 23 M and that's a long homework you have to go back and you have to see each time what day made the high of the week and then make percentages and then make a conclusion of how this can help you and what you'll see is that the higher of the week on a bearish week usually comes in early Monday Tuesday sometimes Wednesday and then you have to make a comment on how can the economic can to help you you see this stuff people that make it past that cool like you'll get somewhere you got you got work ethic in you some people skip it and I just told them uh I've cancelled you on the next billing that's it and there's no two ways about it like it's not even like oh give me no debate because I make it clear like from the start I send I have a voice note I Fall to everyone don't skip don't do it like it's not it's not worth it it's going to leave gaps in your knowledge it's you've heard it saying in it you pay a rubbish Builder once you pay twice yeah you've heard that saying yeah it's like if you do a poor job once you're going to have to go do it it's going to take you twice as long three times as long I've told people we go you're going to have to go redo it and they're going to hate me and I say to them straight away I'm going to tell you right now you have to go and redo it if you want to leave but me I get it most of the time they say no I'll go redo it if I'm being honest but you get some people that just I don't really know what they're trying to get out of isn't it they're just trying to Fast Track and five will come to you now so apologies and we're just catching up there yeah but five like you've been through through that Journey then I didn't know about that you didn't tell me about this homework and this uh to do a few in my time man what was your fa process seeing that though because obviously it's not usually the case I to be fair I don't know many I know yourself I maybe maybe one other person who does that like has a has a bit more of a homework like feedback approach um or making the students actually give work and and show that they're doing the work versus just hey watch some cour ask me question but that's how you get results man like you know I think like sorry like went but you know like that's how like you get it like that's what I pride myself on everyone that is watching this in the they know if they DM me two hours tops I'm getting back to you like I don't look it's even like I don't really have like um I have a social life definitely have a social life on the weekend whatnot but I know when I have to put work in I know the commitment I got to people and um you know what it was yeah the first person to get a prop for was Diego and that like I was like nah these guys can do it and then we had Riad and five and whatnot and it was just like and you know like what that does for the other people in the group the morale that puts into them it's crazy like they're like I'm going to be next I'm going to be um like I'm going to get 10K PS as well I'm going to get 50k PS we we got like a measure like uh I keep a tally for the funding that we've done since this start year started what are we on I think we're 50k away from 10 million funding really 50k away that's going to get done this guy will go get another 100K account he do it he go he'll go do it and I think for payouts we on 400k wow so by the end of the year I want to see maybe I think maybe a million is like out of stretch and I think it's there I think it's there hope the market turn on yeah let's see um yeah the currency M half a million is there man on the pr I put I put money on it half a million is there like it's it's done I can I'm so sure I love that I love the energy as well five what was it like going through that though you you didn't really go through any education before that right no I watched a bit ICT but I was like slacking on that and then do you feel like if he went through a different Educator's thing first and then saw like homework and stuff he would have done it or do you think he was lucky that he you came straight to you first I don't know you see I get I've had people that have been on other groups and then come to my group and then they say like oh it's it's a it's a lot different cuz um even in terms of content let me ask you a question how many videos do you think I have in the in the mentorship say 20 I think right now it's over 200 yeah really yeah easy overz but we have a week happy about it you see like there's like a there's a weekly commentary every week so like we're on that Weekly comment what 10 what 18 something like that so that's like half of them like weekly coms and the co content is like 50 60 lessons and then there's that PDFs I give them PDFs I don't upsell them as well I know some guys they try to upsell um the 2.0 yeah the hard work the hard work though is like um I've made a a trade plan a trade journal for them and I there's a section that says comment and uh they send me the trade setups that they take so we kind of we do it in in time we have a group chat and you don't get into the intraday group chat until you've reached a certain part of the content otherwise you're going to be like I don't understand these words I don't understand what's going on type thing overwhelming yeah way too overwhelming and then um I go in there I helped them I just told them like look I told them high probability is this low probability is this watch price right now run the previous High what are you trying to watch from there we look at this 5 to 15 minute displacement and then I told him I made one universal entry video for them so course we used to have a problem everyone's talking about you know there so there's ictp which we use right so there's a f break order block there's seven of them right now imagine you got each person act a different one so you can imagine the CH the chat's going crazy some people saying order block some people saying breaker Block it's each of their own when it comes to entry so I made one universal one is just the optimal trade entry OT is the only thing you need because look you can teach the lowest IQ person in OT because it's like it's removing the pdor and its levels 62 705 and 79 when it hits the 62 level that's it done stops at the one TP minimums at the zero it's the most like black and white entry like thing ever like you can't mess up if you mess up on OT something seriously wrong like there's something wrong with you like I'm not saying mentally I'm saying there's something wrong with you in terms of like you're just trying to make your stop loss smaller for no reason or you're trying to like Target more for no reason there's something seriously wrong with you like in terms of like your approach to trading but yeah definitely five I'm coming back to you I apologize I did that that time I went um what was the process like then what was the process like you know I think it's an incredible thing to be able to come across something as intensive and you know as detailed and have a mentor who is as active as well you know um so you know huge you know I don't know if it was luck or whatever it may be but you got to do that first which is very rare and I'm sure you've heard horror stories from other Traders right but what was that like for you what did it mean to you as someone who had you know taken some losses in crypto gone into FX tried signals not really done much found ICT over complexed then you come across Mr mbb it was like At first year when I saw all the videos and [ __ ] I was like God damn like this is but then you know what it is like I watched one or two and I just started to like get with the program I was just like yo I started liking I like I would watch one or two like first started I'd watch a couple and then I'd go do a [ __ ] then I just got kind of like addicted to it and then as like I would watch a couple more and then I trade IID see my trading actually getting better and things like that so from then like after maybe like episode five or whatever I was just locked in and just like yeah I'm back in college basically and or University or some [ __ ] and we we F to watch all the these videos and make notes and part this [ __ ] so when it come to homew time and all that like don't get me wrong it's long but you got to like if you really want this you got to you got to do what you got to do bro like honestly because it helps like pointing that out like for me now like if I see price that's why I told you that it's always about time and price because if I see price at a certain I don't know like high on a Tuesday or Wednesday I know this is high probability like price might not come back here again and that's I've won a lot of Trades like that from doing the homework that he said do you get me so it it does actually help he's not being a [ __ ] or nothing like he's actually do you get what I'm saying trying to help you with your trading that's it what was it like doing that homework then like did you think about skipping it did you think about okay maybe yeah it took me I I I started it stopped started stopped it took a little took a little while to really but then yeah like you can't like I'll be trying to skip home with then asking about a [ __ ] and he's just not having it really just back to the homework get it like we conversation can't really Contin the homework done yeah typeit I respect that would you say though like based on the sound of it the homework was forcing you to see the market if that makes sense you had to just dig dig and dig and scroll back and see the answer if you yeah you you know the reason is yeah one big skill of a Trader is pattern recognition MH and people don't understand that you know like um watching a video is one thing but you need to get your reps in it's like you know like you can watch a guy in the gym do a set that's not you doing the set set you go try to do the same set you're not going to maybe not have the same form the same technique whatnot do you see my point you need to go get in your own reps to get Pat recognition because look one thing is another one is like after the end I say find 30 trade setups of this specific plan that I give them and uh show me it go find it I'm not giving you the trade STS you go find them in your own shop because now what's is priming your brain and priming your like you know um it's just neuropath ways in your brain they get made right and the more reps you do the stronger it gets and you're just like priming your eyes to see it cuz then you're going to start seeing oh you're going to see this Trad out form before it even happens because you see price is hovering let's say you're bearish on the week let's say Tuesday let's say yes let's say Wednesday is getting close to Tuesday's high and you know that there's it's clearly like going to offer like a bearish reversal you know what to expect when price runs Tuesday sign out why the guy that done the Reps he knows what he's going to run it and we're going to cut the other way and you know the signatures in price to look for you want to see fair value gaps left when you do that aggressive run away from running the high that's what you're looking for a guy that just um watched a video didn't do no reps who's going to be more confident taking the trade do you see my point this is why so it was so so so important like back testing right it needs to be done right I think back testing and practice and back testing in my opinion are the same thing you should have specific back test so when you're someone new right and this is where again having like some sort of structured content helps yeah so like let's say you're learning order blocks from someone right cuz I'm sure in every single SMC course order block is taught right Universal SMC right so let's just say that order block go and find three bearish and three bullish order blocks and show them and get your verification is it correct or is it not if it's not correct why isn't it correct show me a correct example and then I'll go back and do it those little things is what makes the development of the trader do you see my point it's it's like um it's kind of like private tuition if you kind of think about I come from a tuition background before I was I remember yeah I came from a tuition I was hard on those guys I used to give them 25 markers and I want it [Laughter] tomorrow man I tell you it's so interesting actually because now that you cuz I've always wondered I've always thought like I've met these Traders one the small number that I've met personally it's like they all had I I don't want to say confidence because confidence sometimes comes across as like is as a negative in trading right but they back themselves that they they they were competent in the markets when they were explaining it to me right especially Riad he did a chart breakdown with me for example and you know he had I remember when I'd met him he had uh done a a record payout on the prop firm I was doing the Pod for and then he would done a Rec he was on the leaderboard for ftmo as well right and be in mind he hadn't been trading that long I think he'd been trading a year or something uh and he done you been funded previously of mff then had to redo the whole process like he done something in a very quick manner of time was very competent in what he was doing and you know he understood what he was doing as well right so not only competent but the confidence what I'm trying to point out is that five has it he had it even Diego had it um and that's something's very rare in trading you know most people they're very reluctant to get in the markets reluctant to talk about the markets and they're very damaged by the markets so even if they are maybe had a payout or two they're they're not confident it's going to last I think some people are just they're just confident uncomfortable calling price here like you know um you don't score points like that you don't score no points it's like you don't make no money from bets that you don't put money on to oh I think he's going to win you're not going to make no money unless you put a bet on it our motto is you have to get comfortable executing uh we have a motto and it's pinned get the [ __ ] in when it's applicable get risk off the table this is the biggest thing manage that stop loss try to get break even on the trade and try and stretch the TP if there is a bigger if you see prices like running to your take profit remove the take profit close it out manually it's probably going for a Target past your target right so you need to quickly reevaluate it's probably going for the high that's a bit further than my where my uh TP is for my long do you see my point but obviously if price is creeping just keep you initial but that stop loss manage it and that's a big thing cuz you know risk to reward is so misunderstood and I thought I understood RIS to reward until so the people I trade for right um we have like a group chat it's not the most active thing these guys are like old like they're older and they're they're boring apologies uh but so they they help me yet so sharp ratio is a better um measure for your rist reward right so it's basically like like your risk V your return over like it's a dynamic version of risk reward basically so for example right let's say two people me and five yeah we take we both keep taking two to one risk roll trades but on average when I stop out I've managed my stop loss to half of the initial position mhm across 30 trades the average of my stop loss is half my initial position but he doesn't manage that stop he keeps on a dual die basis and he gets stopped at uh one at one who has the higher all multiple really MH I have it because I'm winning two on average and I'm getting stopped out because I'm very good at managing the trade at0 five right so my is actually going to feel like a four do you see my point and this is something I'm big on but and the people uh in the interbank group which is like a specific Branch to the group I have were big one I told him when you get in manage the risk take three losses on 0.0 when if you can get three break evens it's not a bad that's not a bad week you people lose accounts in a week if you if you're hit and break even in a week you just need one trade you're up 2% for the month yeah you know what is your Twitter is going to screw your mind people you see people passing very fast the same people that passing very fast they lost very fast on many challenges before that winner that's the thing that you don't see right if you keep managing your trades those three are trades here if you can manage your stock plus to like three like or even break even those three Rs are going to feel like flipping bombs on your Equity curve I me that's really what where the Excellence comes into trading rather than hunting how can I become the trader who can predict one to tens and 20s and huge risk reward it's more so how can I become the trader who can manage my risk to a point where based on the sharp ratio then it's all risk management look I tell me a better about one that you'll take every single time you see it let's take a break from a minute there cuz I want to tell you about the best trading tool on the market trade Zella the reason why trade Zella is the number one trading tool that every Trader needs is because you can do back testing automated journaling trade replay in-depth analytics and so much more and the greatest part about trade Zella is that it's all automated all you have to do is connect your mt4 and mt5 it will pull all your data onto the dashboard you can add playbooks you can just add notes you can add images from your trades and you can get the insights that is necessary for you to progress as a Trader now trade Zella is for absolutely everyone whether you're a crypto Trader whether you're a Forex Trader whether you trade prop firms it is for absolutely everyone and that is why thousands of Traders have signed up using my link here through the podcast make sure you use the code Riz 10 for 10% off your monthly subscription or W for 20% off your yearly subscription link is in the description below and let's get back to the episode just like what you said like if we we like one previous displacement breaker yeah bread and butter cool bread and butter put 100% of your account on it no chance no chance no matter how good this like a test no no no no matter how good the setup is it's in the end risk management handles everything like I see some people they have different technical strategies when they're in a draw down yeah do you know how ridiculous that is that is so ridiculous because the only thing that you're going to manage is just the risk approach your technicals that you kept you you're hitting that trade every single time it comes the only thing you need to manage now is the draw down right and the risk one of it so when you lose half the risk that's a rule that we have when you lose half the risk if you enter x amount of draw down change the risk to this uh I have a a rule for so challenges right why I say to challenges and people might say this is controversial I say minimum 1% minimum right don't go to 2% I say 1 to 1.5% B this is the main thing make sure that that funded account is Affordable make sure that I don't break the bank let's say you can afford that Challenge three times over in a month that's the challenge you should go for right because you want to pause these challenges with speed right now when it comes to the live account you and it's 1% the only thing you're changing is a risk you see the same trades on the live and the challenge right when it comes to the live maximum is .5% you're not going to blow yourself up fast with 0.5% every single um blowing account comes from the same thing speed and leverage I don't think anyone's ever blown an account here from managing risk cuz then you know you start to see that slow decline like you know you start like you're not going to lose 50 in a row even just just how trading works you'll just get a lucky a few lucky like winners keeping your Equity curve bouncing up and down you can't blow up someone at him with a capital he's on I told him 0.3 you're not losing you know 0.3 right 30 trades in a row no chance no chance is and and by the way and then capping your trade frequency which is something that people don't do the only way one of the only ways you can get frequenc uh consistency cap your trade frequency if you give yourself five trades a month and this is something I gave directly to my mentorship I said you got five trades a month right at a specific OT level it's either you lose five all five of them you lose them and what that does is that that keeps your max loss consistent now my Max loss can only be minus 5% if I win my Max win can only be 10% right you'll start to get more of an average win loss right given that you keep yourself to these amount of Trades now with the challenge is a bit different this is for the Live account right cuz a challenge you need more trade setups type thing to kind of pass the challenge with with what I mentioned with the risk but with a live account you can do that you'll start to see consistency but one thing is though it's boring five trades in a whole month people try to get five trades in a week do you see my point they can't it's very hard to do five trades in a thingy like myself as a swing Trader I'll probably even get like max four in a month that's because of just the time fr working on uh but I don't know how people can get 20 trades in a month even like five trades in a day like five 1 hour candles is that even like a there's only 3 hours in a killone how are you getting five trades how many trades are you getting in one hour just a lot of things have you have you done that before that many trades Trad you don't don't work yeah [ __ ] ends up in Blowing accounts what was it like when coming from that my and and and those sort of results from doing those actions and you start hearing these restrictions if you will you know these rule sets to follow how how how was it for you to adapt to that at first I'm not going to lie I thought he was bugging so I'm not going to lie I thought this guy was bugging I thought he's just too rich he's gone clear he only needs one two three trades a month for that whatever I'm thinking this guy's buzzing I'm Market's open 24 hours bro he's even five trades on but yeah I had to just slowly I tried to do my as I said I was trying to do my own thing I had to just come out the hot seat bro and just listen to the pros and yeah a lot has changed since the five trades a month isn't it that's that's the key five beats five trades that's the secret that's the key I'm telling you incredible cuz people don't know how to slow down like in in a lot of situations like you know like um how did how did you get five to slow down oh bro uh I I remember yeah like you know with five that was even a point I remember he left he yeah he left the mentorship I remember so he joined um I think he joined and he thought it was going to be a lot easier like a walk in a park type thing or I just need to do a few things maybe like a few five minute videos and whatnot and then he left and then he hit me up again I was like oh you know what like cool let's do it again and I don't really do that you know like I don't I don't I don't really do that with people and then after um came back and um yeah he was putting a shift in and then after slowly slowly he was just is telling me like um I pass this funding now I pass that funding now I was like oh you're you're you're good like what's the pn's like he showing me and then I was like oh like you know like consider these type of things and obviously you know it's always a work in progress cuz you know like Co you get your million in funding now and one thing that happened to him was like I think you went like you lost a few accounts in it yeah he lost a few accounts here he's got them back now we got more than that he lost a few accounts here and um I told him straight up you know what it is yeah you what got you there you tried to change it yeah yeah why what what got you funded is going to make you the payout yeah what's going to get you the payout of 5K is going to get you the payout of 20K mhm it's just there's a stroke of lock in trading that people don't admit I admit to you there is a big stroke of lock in trading in the sense of sometimes you just get an explosion your way and you get that trophy everyone has that trophy trade that they can talk about right and did you know it's going to run like that no chance you didn't know was going to run like that um but that's the thing you have to set yourself up for those positions as well yeah do you see my point like you need to keep hting your trade keep pting your trade manage the risk one in 10 trades maybe you're going to get like a strong displacement maybe you're going to be uh in line with a economic event not like a CP FMC let's say like it's unemployment claims right you're going to be on side with unemployment claims and you're going to see like oh [ __ ] like that two is now like a sixr done and that's it that's incredible slowed him down yeah but that's the hard thing cuz you know what is yeah you can teach technicals installing mindset is like brainwashing yeah that's what the weekly coms are for every single week I have the whole at the end I tell them look you guys like so not everyone is in that group chat the day trading where we like we're quing price together right not everyone's in that but I give a specific mention to those guys that look yeah this week you guys done this and it's so bad you guys need to like sort out cuz some people just sugar coat I'm not on this sugar coat thing I'll tell you like look here this what you're doing I I can show you some messages which you're feeling oh was rude like I've told people you're ridiculous straight up like word for I told them you're ridiculous had that like you're out of your mind why would you do that type thing like you know like what's wrong with you like do you want to career in this do you want do you want a funded account why you playing that type thing but sometimes that you know that's how I cuz with me that's what I need to be spoken to sometimes so I'm thinking maybe some of these boys they come from the same area where I'm from so I need to speak to them like that they don't understand the language you know like sometimes um you know what they're saying they're saying I'm not saying they're dogs but dogs don't understand when you bark at them do you see my point so sometimes you need to just tell them the language they know yeah literally how how important was it for you to have that sort of accountability or that what would they call it like that blunt you know feedback now it was very it was what I needed cuz at the end of the day that Sugar cut and [ __ ] I probably still would have been [ __ ] doing nothing now bro so it's therefore for what I needed like I needed to just and I was never shy I would always send him what I done cuz like I'm one of them guys that you know like when you're young and you get caught being naughty whatever you just own up like I'm always like that so I just own up to him like what I done I'll tell him like there's been times I've showed him yo I just blown free 100K accounts today like what you up to though me what you mean like y have you lost your marbles what's going on another thing like the other end of that is some people also all they do is they're just seeking a validation yeah and that is like cringe because I'm seeing like grown men seeking validation and that's proper cringe to me like you know like at the end of it like we're we're trading or whatnot but you know I think group chats in general nothing good comes from them in general cuz I think it's one person leading the chat and everyone's taking a signal usually yeah that's how it goes and some people are just seeking validation like oh um is this correct you know it's correct you're just trying to say people yeah you got it correct just to feel good about yourself maybe um on Twitter you see people doing it all the time seeking validation I think um I think people need to question what what is it that they want are they trying to get profitable or are they just trying to like uh become some on the timeline yeah I think that's that's a big thing people need to care cuz the timeline stuff is all great yeah like I had a big buzz at one point on TT on Twitter now I'm I don't think I'm I don't think I have even a DP anymore I I think people if I put a post it would even get traction anymore but I'm not too bothered because I know what I'm here for it's not that uh trading is going to pay better than your name get on the timeline um and it's addictive you know clout one it's addictive it's a thing like when you have clout it's nice it's a nice feeling this come from someone that had that right um but it does nothing for you it doesn't do anything if you can't like turn that into some sort of skill like you got hav't got the skill to back it essentially you're going to fizzle out in like a one like another two weeks there's always someone that comes with a fat payout mhm there's always someone that comes and just dis drops the time oh who's this new guy have you had him on podcast I think recently yeah yeah yeah him he he came out and everyone called him out it's fake what not he showed no it's not it's not fake two month someone's going to come and take his shine and then another two month it's just just how it goes with everything probably in all the industries that happens is it 100% it's it's it's the nature of the world it's like it's like uh news right it's like something will be in the news no matter how crazy it is right it'll be in the news for a week maybe two Max and then it moves on to the next thing because our attenion needs to go somewhere else you one thing mention there that I want to touch on cuz I've seen it happen loads which is uh people do the right things to pass a challenge or get funded or for a period of time and then they changed something right what was that mentality why was it that you made a change after getting funded but why why change something the ego I just lost my mind bro that was it just lost my mind I'll be real I just started like obviously when you have a little kill streak in that it gets to your head sometimes that you start thinking you're that guy you can you you own the market now like Euro does what you want it to do type [ __ ] and it's not it's not reality so I went through a bit of that and then just I told Omar about and he just you know told me like what's going on bro like you having clean runs clean clean setup Basics but it's the truth what he said I got bored cuz this [ __ ] is boring like once you once you get simple and [ __ ] and you're waiting around for one trade for a whole week or whatever it does get boring so that's why I started doing extra [ __ ] and the extra [ __ ] I'm just Back to Basics fully that I don't I don't do no extra [ __ ] no more oh was that about that period of the start of the year yeah around then yeah like people as well like you know I say as well you know you can tell which is a day for that's going to be good day trading day trading what ICT says is day trader doesn't mean trading every day it means the days you do choose you're trying to get the daily range that's what day trading means right now some people right they know what to look for you know if you don't know what you're looking for where your trade setup is likely to form and when you shouldn't you should be studying and not executing black and white if you don't notice those three things you need to be studying more right now for the people that do know those three things and I'm assuming this the one this is mainly ICT SMC right look if you're a guy that's going off previous days highs previous low sweeps why are you interested on the days where you're not opening close to a previous day's high or previous day's low sweep why are you even going on a 5 to 15 do you see my Point uh if you're trading like let's say 4 hour if if the daily or the 4 Hour is in no predictable area where you can predict where the next where the 4 Hour or the daily should go from here the specific candle that's printing why would you go on the 5 or50 I told people all the time like it's like why it doesn't make no sense like to me maybe I've installed this mind into my like my head for years right for like two years this I thought like this right so it doesn't even process in my head why would you go down the full hour if it's Troy to find a trade setup when the five and the 15 builds the 4 Hour do you see my point if the 4 Hour is not clear and you don't know where the the direction for what that is going then what do you know what direction are you looking to go on the five and the 15 and then they're like uh you know I don't know I just journal and notee that down like and one thing is you need to journal your mistakes because um I used to cheat and I say write down that write down or take a picture of the of the the diagram I remember it you won't remember it that's the biggest lie ever I'll remember it I'll remember it you won't remember it because um a lot of times people they just get stopped out or they enter and it's the same mistakes that's holding them back now if you don't Journal it which is the boring stuff but it's the productive stuff if you don't Journal that you're not going to know how to get better and one thing is this year you know like even me when I was journaling so what I used to what used to stop me out all the flipping time you was um I used to uh I think it's a market structure shift but it's just uh a fair V Gap fill so it's a false it's running the low to fill a fair value Gap and I'm thinking that's a shift in structure breaking that low and I used to get my ass done like that so then when I start journaling it like watch out for the fair value Gap F and you know once I journaled it once just once yeah the next time I was like in my head like okay watch out fa got feel you know when you write something down it's like it gets engraved in your brain is it it's like do that so many times I say all the time once you're going to take losses in your trading yeah if you can look back at that loss and be like I'm surprised I got stopped out or like I'd hit that trade again that is just the loss you're going to always incur in your trading and that's fine that that's the loss that you just move on that happened move on you kind of know when you've kind of effed yourself up a bit when like I know myself I entered where I shouldn't have my stop was a bit tight uh I shouldn't have traded this day those things yeah you need to sort out those ones where like you're surprised how do how do I lose this [ __ ] that's fine man those ones happen just move on to the next trade in terms of journaling how important is that as a Trader the best book a Trader will ever read is a journal the best book you'll ever read is your look Mark Douglas trading inazone yeah it's a great beginner book but it's very basic right um I think there's one called Alpha Trader whatnot there's a few right but those aren't specific to you that's just general to the m look they're selling a book They're going to be talking about the average Trader type thing you have to see from the business perspective or selling a book in it yeah yeah your Journal is going to be literally your your worse than your best I say it to people all the time you need to journal your loss is a lot more harder but you need to also know yeah what your best trade setup is and you need to try and just what happened that day that went so well for you just wait for that same thing again cuz at the end of the day you know what is where people blows up it's um the time where a trade's finished and the next high probability trade is going to show itself that time call it no man's Lander they do thems in like they can't wait it's The Patience type thing um but I think as well people don't understand is how less you need in this game they think you need to do a lot uh and they they think it's all down to trade volume and it's really not if you do three good shots in a month two hours 6% done you know you've outperformed nearly everyone maybe not on Twitter but you know like um in generality yeah in reality you've outperformed most people in the world that's insane and that's just from three good trades I think people underestimate yeah their ability to go on a good win streak if they only wait for high probability trades like losses are so normalized losing is not good do you see my point losing is normal you'll lose but don't say oh yeah losses are part of the normal no that loss is it avoidable like was there something clearly you could have done to do like prevent that that cause of happening if yes sort that out but obviously some losses are going to come but don't normalize and put like a big like plaster over a loss and say it's all right it's it's really not cuz losing if it keeps happening you're going to have like one PS and two PS left in your account and that's not good no 100% and one thing I was ask you five actually and it's a bit random it was it was in my head earlier but I just came back to me it's a question I'm going to ask you and then I'll get your response after as well which is when we did our first episode a lot not a lot but there was a few comments of like why am I going to learn from someone so young how can I learn from soone so why should I listen to someone so young right and doesn't I get it to one degree right but what were your PS like picking a mentor who I would imagine is younger than you right yeah is way younger than you yeah what was your mindset I've done this before is it so you see with music it got to a point obviously I I used to make rap music a lot then when I had to start making drill music at the time a 15-year-old taught me how to make drill so this ain't nothing new to me I'm I'm a student if I'm a student it don't matter who how old they are or whatever I'm learning I'm not them guys with oh I can't learn off my man he's younger than me or you know certain I can't buy off my man he's younger I'm not like that still I don't if I'm learning something I'm learning something I don't care how old people or whatever so I learned literally learned how to make drill beats and [ __ ] from a 15-year-old on YouTube do you get me and look what ended up happening there yeah so with this mentorship [ __ ] I know he's way younger than you I don't care like he's he's got the proof he's got the results he's got everything he's saying is it's far like age don't mean nothing to me about that I don't don't think about that at all I'll be on here as his student and he's way all we're younger than me I don't care if the internet thinks that's weird I don't give a [ __ ] you I love that I don't care I'm not gonna ask you to respond to that because I don't think you need to I'm gonna ask you like how because even then because that was when when did we do that podcast maybe year and a half two years ago now I was 21 yeah yeah even then you spoke Way Beyond your years and had a different mindset yeah but since then it's only improved more like when I sit here and I I I've sat with you twice there was one episode we recorded I was super ill that never went out yeah um then we did that the mff one we didn't really talk too much on that day but like even today like there's your intellect and insight into your psychology the trading realm the trading industry General psychology of the masses is so much higher than the average 23 year old right I would assume you're 20 you're 23 right yeah that's exactly mean yeah yeah I remember happy birthday we were trying to arrange this but um but yeah like where does that stem from how have you done that is it natural is it something you've built you know I have no idea but you know what's crazy yeah I wasn't like this in school I could imagine I wasn't like this in school so if there's people from my school it but you know what is I think it's like um I don't read books I don't I don't really read books honestly I don't know where it comes from really I think it's you know trading matures you in general trading Mai uh just the course of life I had I had to be like uh I couldn't really afford to be an idiot after the age of 18 I really couldn't like I I couldn't afford to be like an idiot I to like become a man quick type thing because uh come from a disadvantage background what whatnot um I think just some things happen in your life and you just get mature uh in terms of trading is uh what I do a lot of yeah in my spare time is I don't really I don't watch like no Netflix shows or nothing I'm there's nothing against it I just can't ever find anything that I enjoy I watched one thing on Netflix and one thing only and it's Prison Break and I and that's like the best thing ever nothing even comes close to it no I watch snowfall as well snowfall was good but the last season was dead um but what I watch a lot of yeah is like debates you know you need to watch before you go into the debates billions billions oh I heard I heard that I heard you love it you're Trader you love that I heard I heard but um I watch a lot of debates yeah and the debates are like um nothing to do with trading debates to do with like religion debates to do with like um liberalism rightwing left wing I watch these type A lot of these type of debates I watch uh debates like dietry you know some people take opposing views of diet like dietry advice um a lot of things just uh it's I think a debate is good to watch yeah you know why because you know when you read a book it's from a specific so like I'll give you an example here economics usually is Keynesian economics and then there's Austrian economics but you read a book on Keynesian economics from a kees that takes the keian point of view he's just going to keep talking about why the Kean point of view but now you put a keian guy and you put an Austrian uh Economist in um a room and they're just battling it out they're just debating you as a viewer get to make the Mind Up of I kind of think this guy took him or like he's got good points or that's a good point on that do you see my point if you just always watch let's let's say if you just keep watching leftwing content you're going to be left wing but you need to watch people have conflicting arguments and that's kind of where you learn that's where I pick up a lot of vocabulary as well cuz these people they're like academics and whatnot but I think intellectual yeah but you know you know how you can spin this back to trading yeah anything that makes you think deeper and make better decisions is going to directly impact your trading because in the end yeah I don't care what anyone says how mechanical you can be the last part of your trading is discretionary are you taking the trade or not are you pressing buy or you pressing sell or you pressing or you doing nothing that's discretion right now that is a level of critical thinking like can I afford to let this trade go do I need to take this trade what not like what I said before some people just got technical technical like monkeyy monkey do but what's going to separate the other person is can I miss this trade and be all right with it the that type of critical thinking which you need to get from outside of trading trading is never going to teach you that you need to what we can but you can get that from elsewhere like one thing I used to do was it I used to go for walks and I used to like just uh just let your mind go man like you get me like just let your mind just let it run like you'll start thinking of things are you know like if you take a loss like what can you do to get better go with the intention to like clear your mind though don't just go for for the sake of exercise go with the intention I'm going to I need to think about something I I swear to God do it for like 30 days yeah you'll just you'll start to tap into a different mindset like seriously you'll tap into a different mindset do you feel like there's so much over stimulation you know in today's world when it comes to social media our phones TV shows everything this always stimulated if anything we're from the moment we wake up to the moment we go to sleep the world is designed so far not even the world's design we as human beings and our sort of weaknesses is that we give into just being stimulated 24/7 social media's the devil's work like honestly I'm not on social media for it's it's a decision right I can go I'm pretty sure right um people have no insight to my life they just see me as a Trader and that's good I love that no one knows I have other I have other businesses outside of trading a few right no one knows what they are and no one's ever going to know what they are unless I need to give promotion maybe I don't know I'm in two mans for one of them um but the thing is you know comparison is the thief of Joy like you're going to go on there and you're going to see what you seem to think is people living a life that you wish you're living and they're not living that life like um I've had people like tell me like oh um I'm a fraud because uh I don't drive a specific car I'm like you don't even know the car I drive I'm I'm a fraud because I don't have this or that I'm saying okay cool people need to get okay with um the idea that people can think what they want of you that doesn't depict your reality the same way someone's belief in you doesn't alter whether you're going to make it or not like these things people need to kind of just take thems out of the mix yeah and I'm telling you someone that's really like not really on social media a lot of Cl that comes with it because um I see people complaining about stupid things I'm like why are you even complaining about it but you know like everyone has this I'm like who gives a [ __ ] about that your at the end of the day is your life uh what you like is what you like what is in your means right now is in your means right now the only thing you can do is work harder and pray for more and that's it yeah one thing I want to go back to quickly is the debate right and the reason I say that is cuz one one obviously as you said it's intellectually seeing both sides do you think that relates to your trading as well because it's essentially you're you're forced to look at both sides or you've ingrained into yourself to look at both sides so you're then observing the markets trying to make sure you're not uh putting your own projection like as you said about left wing right you're not putting your own bias of like this is just a buy I only buy all I see is buy you're taking all the information to have a balanced point of view so one thing and I calls it an inner dialogue mhm there's always you always hear your mind you know what I'm saying like you know everyone has that little like when you're reading that voice that reads for you and what is his voice where is this guy in my head do you see my point everyone has that you know you always like second out whatnot but again do you know what helps with that yeah it's I don't really think that's down to like uh the decision like really to do with the debates but that comes from the I know what I'm looking for it's as simple as that I know what I'm looking for I don't care what anyone else's thing is I know I'm a technician in what I know I know I'm dealing here with 4 hour when I was day trading 4our daily pdor mhm previous days high previous days low sweeps those are where I'm looking for trade setups I know trade setups are going to be birthed there that is where I know on the five 15 minute we can start looking for what I like to trade on in level was the marer sell Market maker buy model I know it existed I know anywhere else I'm not finding nothing so I only wait for that now where the critical decision making helps is yeah is deeming high low probability so price can be at your level right but is it going to move away today nfps today NFP is tomorrow these type of things you know uh one big skills I tell for the camera is learn to read the calendar ahead of time right so you got CPI right on Wednesday CPI is usually on a Wednesday for the USD yep now CPI most likely than not is going to be a midweek reversal or if Tuesday made a very distinctive run on one side of the weekly candle and is going the other way then CPI is going to begin the expansion the other way but you know that the expansion is going to really begin with CPI so what should you do just come after the CPI you have the Thursday and the Friday you only need one to two good trades a week now if you can accept that that trade frequency absolutely lower it come only when the economic calendar is kind of nudging you like yeah I'm going to expand the week at this time that's what the economic calendar is literally telling you the T the day of the week that is going to expand the weekly candle and the time of day that is going to expand the daily Candle on the specific day that the events on frame your trading around that anything else it's probably a bit lackluster so without that time element and you only have the price element critical decision making comes in I only got half the ingredients I need for this trade setup up I've seen better ones I'll just leave it let me tell you something no damage is better than damage in trading right I cannot trade I canot place a trade for the rest of we just start June I cannot place a trade for the rest of June I'll outperform 90% of people because they'll blow up they'll just lose money right so but me I'm just not trading 0% better than minus three it's a superpow right if you can tap into this mindset is if you're always playing on the defense right you see trading uh one guy that spoke he says um try not to lose money you'll make money try not to lose money right like pick the best trade STS try not to lose money on that you you'll just make money mhm you might not make big money but then again that's a game of capital not return right what is a bit of both of course returns are important especially in the institutional world you're all battling based off returns right um but in terms of the prop firm space you just need to get more Capital you don't need bigger trades you need bigger Capital because that 1% and he's living proof of that he's literally living proof of that 1% you hear all time 1% on 100K is 1K then on a mill is 10K or I need two more Capital the dogs work is getting the capital it's not the trades the trades are easy pot it's the same trades on the 100K account 2 mil 3 mil one and a half mil you're just going to get you're getting rewarded for accumulating more Capital that's what it is but people can't tap into that mindset I don't know what it is uh what was it like for yourself though cuz I'm sure as he said like you probably heard that all before like oh you know just trade the same believing bro SCS believing so like At first I was like cuz my first payout was like a 4% on a 200k account so I was like 8K but then after that I was scared to even try and whatever so cuz I got more Capital so I'll would do like 1% or 2% it' be like 8K again so I started to realize then I get more challenges so all this time when you've been posting these payouts that are like maybe 2K on one certificate in reality is yes multiple multiple accounts getting traded yeah mhm so that and that's how I like kind of build up and then so now even on a funed account I can see a one to one and I can be out here and I won't even trade again that week cuz see a quick 30 I'm good you get what I'm saying so you got to let they you got to let increase your Capital you don't have to get higher trades or higher RR whatever you got to just par challenges find your Niche with paring the challenges that's what it's really about at any point did you have face any barriers you know like sometimes you have some mental barriers at a certain amount of capital when you're experiencing a certain amount of risk you know yeah so when I went from like 1 mil to two the first time I kind of I done it and then I blew like a m really and then recently again I I've done it I got from like two to nearly three I got to that nearly 3.5 and then I Fred out again got went back down to like 1.8 or 1.7 or something so right now I'm doing the third run to try and get above like 3 mil and hold it but this time cuz I'm doing everything with like like even my challenges right now I'm doing half risk cuz the market is not that clear to me right now so I'm just taking everything slow I'm not in no rush so I feel like this time I'll actually do it because I'm not like before I was kind of like new to trading pressure I was trying to like maybe doing it a bit for Twitter and what not but now I'm just overall of that so now I'm just taking it slow I don't mind like I've had these couple challenges I've had like a mil challenges now for like six weeks I'm on phase one with most of them a couple of them of with the phase but I'm just chilling yeah as long as you got Equity yeah there's a saying in it as long you got Equity you can make money mhm if you got no equity in your account doesn't matter like you can't make [ __ ] even if the best trade setup comes even if the bank of England told you yeah we are about to deeg from the dollar everyone just short GBP USD right now but I haven't got equity in my account to do it save your equity for good trades right I used to say to people yeah well in my group I told them people spend bad days right people spend they lose the equity right and then the good days they Ed that to crawl back to break even M right you've heard this B times isn't it and done it yeah you use those good days to get back to break even if you waited if you waited you could have used those good days to get to the profit Target yes do you see my point yeah but you're always going to make mistakes as well like I'm not saying I'm like look I've done my ass as well before right I've taken like look I told you the start I could have had a win and trade here I was up like across the two pairs I was up like what like seven multiples right so and I went break even that's a disaster how am I not even taking two like two multipl off that trade thinking back to it that's a disaster if I was if I had me telling me I would tell myself y you're an idiot like how you not taking anything off but that's because me I I went into a bit of a hope saying this is going to turn oh I'm literally like money signs like you see my point it happens man but I'm saying overall like you can have your moment mhm but just make sure like you have this mindset like this is how you're going to be like 90% of the time 10% of the time man you got your own room for error as long as you're not blowing the entire account man you're living it that's it and when we last spoke though uh or our last podcast you were still on the prop Capital yeah since then I know on the round table you discussed about you know invested Capital Etc like what's the position right now so I've I'm still doing it and I've kind of kind of changed the perspective I want on it so I want to be the person handling the funds m uh there's qualifications you can get the cisi qualification [ __ ] that's for the UK I don't know about the jurisdiction for America and the Middle East which is where most of the connects are um but essentially what that would do is the problem is is not tradeing the capital is uh onboarding clients and managing the funds so if you can get I I'd want to get the qualification in I get the qualifications to do that and then I can decide and I can then go on um what I have to look into it to then trade it myself you need to pitch pitch is simp the same thing as before you need to pitch an investment um like a model this is how it will work where your money is going type thing um or even uh you know I have a good network of Traders they're not on Twitter like some of them on Twitter um I have a good network of tra Traders um I'm sure if I approach them uh you know there's a bad name for props right now so that the offer looks enticing as well uh prop firms in general so I'd look to go for like a I don't want to drop prop firm names just for the sake of I don't want your podcasted like you know anyone to take anything away from it um if I go for a prop firm I'd look to just go for like the most reputable one and get like half a million I think I can do something decent returns with half a million capital M if I half a million Capital the way I see it is this right even when I had mff I swear to God this was my mindset from it I had 600k with them right and I was close to scaling um so let's go back to the 500k let's say I have 500k Capital people looking month to month for returns I'm thinking this total capital I just need to do like 25 I need to do like 20% in a year over the course of a year and I'll clean up six figures this is the mindset I think people should have like you you're on like what two two point something right if you just say it over the course of the year I want to make like 15% over the course of the year across the whole to Capital you know what you're doing now your time Horizon has just gone from here to there do you see my point you're no longer cuz look your your one thing as well yeah and this is what people don't understand when you trade long enough you understand this your p&l is never consistent month to month like most my p&l has come from select months it's never the same month every single year but I'm saying you get the meat of your p&l in some months like as well the the draw Downs are sometimes worse in specific months compared it's never ever flat out even 1% 1% 1% minus 1% 1% that's the point I'm trying to make right so that's something to consider cuz then let's say like you want to do like 15% across all the capital bro you might do one one month % and you're kind of halfway there and then you need to know when to stop you got a life outside you have things to build outside of trading you can do things you know invest elsewhere what not other things takes the the the pressure away from shading as well how important do you think that is for the long term you the long the longevity of a trade I think it's important here but I think people overemphasis overemphasize the importance of it like um you can trade why are you so uh worried do you see my point why why are you so worried I have I don't have an intention to stop trading anytime soon do you see my point I'd always look to invest uh trade and and invest like into the financial markets in general I'll give you one right now look at Tesla stocks Tesla stocks alltime high is at 434 you know what the price are right now 110 really imagine go Sub sub 100 yeah oh they did the stocks but they that's this is way after it yeah so look now it used to be like yeah it used to be before this is obviously the 434 from the stock split I think it was what one to 4 One to 4 SP stock split yeah it was yes was around I used to do stocks I don't I don't think I ever mentioned I used to do stocks I told my group this I bro I cleaned up in the farmer Farmer runs i' done well in the farmer runs yeah that's where like I start to get thingy like oh like [ __ ] like this is kind of my run um uh I actually do Spa plays you know what spacks are so spacks here called specs they got a price floor and they can't really go under it so I used to look for like Industries there so I was just trying to play EV the EV game like you know Tesla's industry the vehicle yeah I just went into it what what my Approach was yeah I go for a a market that was booming and then I find specs that have some sort of uh something going for them like a news event like not a news event like the economic calendar but they got something coming out like they're going to launch something or something like that right um used to buy that and then uh I can only lose so much because it's a spec uh and some of them just they do well um I was looking at Tesla like you know if you look at the monthly it nearly went to 100 I swear I got I have conversation like Tesla at 90 I am hands on because I I personally I'm telling you I have conviction Tesla maybe not not in the recent like in like right now but I'm saying 5 years I think it will bre break an alltime high yeah I think I don't doubt it it's the leader in EV i i i and everything's moving to Electric at 90 that's a fire cell that's 5x you put 500 bags down you're clean you can clean up 22 million pounds something like that do you see my point um yeah that's something else like that but again back to the point i' would always look to invest in trade I believe in my ability to do it um but I think I don't I don't think I'd go back to day trading mhm I think I'd stick to swinging uh the bigger the capital gets the higher the opens I get that I play if I get more I'll probably just try to play the monthly open if I see like oh there was a previous month's low run and now we expanded the other way I'm treating that monthly candle like I am to my daily candle I'll hit the monthly open it's going to take longer but that capital is going to make that same return or more because now you're on more capital for my own self I need less return that's how I see it and what about in terms of our last conversation a big tone was like what is the the biggest issues that we were seeing at that time in terms of like SMC Traders and the mistakes they were making it's the same hasn't changed it hasn't changed one bit man cuz like literally all they come in yeah these guys they come in and they you know what is I think there's a respect that's lost for trading man MH like people don't respect it I think it should be a gentleman's game honestly I think there's too many people with a loud mouth and uh there's too many people that are just uh you know like they're not taking it serious man I think people need to actually like reality check themselves like do you want to be a Trader I think a lot of people get into trading because they just kind of uh pushed into it by friend groups they hear about University that's kind of where people get into trading and there must be trading Societies in in inside of universities is that for sure but then equally it's just like what's promoted noway the thing that's changed between when we first sat down is all these influences actual influenc not trading influencers actual like you know the boxers the the car enthusiasts and so then can I say something how dumb do you have to be as a consumer yeah the guy's a boxer where did Forex come from MH the guy's a the guy's a a Tik tocker mhm you're going to buy a Tik tocker signal okay go buy bricks to make your house from uh a flipping Bakery what what's wrong with people like you know like I'm not even saying like people I'm not saying I'm smart you're stupid but I'm saying you you have like it's Common Sense yeah they say it's all common sense isn't so common no more but like I think it's the thing where people kind of they they took them out of it because it's desperation I say all the time yeah the biggest industry and it's in the industry we in trading in General sell the solution to desperate people you're broke right now oh man buy my course I'm going to teach how to make uh 50 R and you you're going to turn 1K into 50k in like a month M or something like that right or and I I think people they don't even have like like I'm here right now with five beats this guy is directly from 150k PS I could be here with we could have a around table Riad Diego there's even other people right how many people can do that there's not a lot cuz some people just all bark no bite I think people need to get more serious the best marketing is results mhm like you're an educator okay how good are your students how good are you do you have any background who are you type thing some people's uh backgrounds go as far as they just give um typical SMC uh fair value Gap uh gems of the day or something like that is that it is that all you can do this is something like what what what's making you different do you see my point yeah how proud are you of five cheese but it's like you know I I can I can show you like off camera yeah like we have chats you know like on telegram right so I operate on telegram now I have conversations with all the successful people uh and if I go to the top when I've sent them the link to join sign up and to the bottom it's just a history of a it's like a internet history it's like a history of their development oh this is the chapter this is the chapter what can I do to do better in this trade was my stoploss placement good did I shave my stoploss correct my payout certificate my pay out one thing as well with us we don't celebrate phase ones Phase 2 is or nothing I don't care phase one is you can fluke that man phase two but the main thing is as well make the money on the on the on the funded right I tell people all the time at least clear your Roi off me what you pay me at least make that money back man like you're home free now you just you paid your own mentorship off basically I told him that straight up like make some money on it make your money back from your education services and the funded account and that's it now everything is going to be yours mhm and uh that's it and um but it helps people like people like five like RI like Diego there's a lot of others as well um P there's one guy called PK on twit he's smashes it he's just ftmo just don't interview he would have flipping if it was any other FM he have he would have an interview he smashes it um you see having guys like that it's like in a classroom they're doing it the people that are up and coming can do it as well but one thing as well people don't understand the time it took him people think he just go in a day you didn't dude this guy he had to work as aof like I remember like the lows he went like you know losing accounts uh just throwing money into the fire basically he didn't know how to trade and he's just going funded after funded I had to cap him like you know I told him yeah stop buying 100K accounts he said yeah I stop buying 100K accounts bro just go do 25 or 50 first and then build from there I had to I had to tell him that because I don't want him to lose more money than what he is but I know he's going to hurt himself I'm going to say look at least you're not going to listen to me yeah stop buying expens of accounts that's the least I can do for him is it but uh yeah like being proud is not just like yeah all five definitely but all of them as long as you're making an honest effort I think as long as you're making an honest effort and you're taking managed risks I mean you're buying funded accounts that aren't going to financially crumble youh and you're giving your best shot and like you've got the green light from me saying like oh like should I consider cuz I told them you have to do 30 back tests M and you're confident with the model like you could show me like you know exactly like the how you're getting a higher time frame bias to the entry you're doing it 30 times for me so I know like five can be lucky 10 20 30 is black and white to me um and we use FX replay to do that I'm not affiliated with them I know you don't but I think they're flipping amazing I think if there was FX Replay in my time I would use that because your fast forwarding time you know like demo I we don't even demo No More by the way you know I used to tell like you need to demo trade M go Replay that is better than a demo because you can get in like 10 you can get if you do three trade setups a day mhm you're getting 21 in a week that's that's literally like a month of demo testing do you see my point it's way better and then go for I think you'll make it just if you're taking managed risks buying fund is that you can lose comfortably and you're trying your best I think it's just the only thing separating you from where you want to be is time you just got take out the time like it's going to take hard man like look if you went into any other business understand it's going to take time and the same problems you had like you know like oh the doubt am I going to make it is it for me you're going to have that in everything man you rather have it in trading than in flipping a 9 to5 I can promise you that much at least in it um but yeah in terms of uh correlation between these traders who have performed very well in your in your mentorship what sort of correlation in terms of their traits work ethic any particular patterns that you've recognized in them can take they put in the fair show like I said all in trading yeah it's very over complicated and what they've done is is simplified you know what you're looking for and you're hitting go with good risk I'm not I'm not here to complicate that's it you know what you're looking for and you're hitting it with the correct risk that's what they do well now where people go left is they start to Revenge trade they start to over leverage they start to do all the stuff they shouldn't do when they take a loss how how are you when you take a loss it says a lot I say all the time yeah if you take a loss just walk out of the room just go about your day no loss should like damage you look no one do you remember how much you risk per trade me yeah 1% 1% do you remember the 1% loss you took in August last year okay what what's a a trade how much did you risk when you like blew like you blew yourself up one time like your whole account you just risk like the max the max like personal funds whatever like you ever BW an account yeah loads of too many times do you remember a specific I remember a specific one yeah there and you only remember it the only was everything yeah because it was a risk no one remembers the managed risk that they in it who remembers the managed uh stop loss that they they lost you don't remember that you not going to if you took a manag loss year you're not going to remember that it's when if the trade left a bad taste in your mouth yeah it's for a reason it's either you mismanaged the plan you entered where you shouldn't have entered you put your stop where your stop shouldn't have been or you hit it with too much risk and that's left the bad taste in your m that's when you know you need to do something and risk appetite is different to everyone as well 1% might be too much for someone 0.5 might be too much to someone you need to find find your own thing and you can always build a risk tolerance I say it comes with confidence you know first you need to get confident in understanding price right you know when you done a few trade setups and you're confident with it it's very easy to kind of just put the risk up a bit from 0.5 maybe to 1% on the challenges Instead This is where people need to start you're never going to have my you won't have my confidence on your first trade if you're a first year guy this your first six months you're not going to have my confidence because you just got into this game you need to do your reps you need to do the sets and then you're going to get confident in it and that's one thing you can't cheat but people don't understand that they just want to get to oh I want to be like that I want to be ice cold and trade like this that you're not going to you'll get there after you you got your like Medals of Honor type thing isn't it yeah yeah no I think one thing that really stuck out to me is with that homework in particular because you're forcing them to see the patterns in the market as you said and then of course obviously the discipline the risk management on top of that but once you've seen the patterns and actually done the work to do it now that it becomes easier that's the wrong word but it's more so that it's more natural because and most of all you start to trust the patterns trust what you're seeing but that's how humans work right that's how your brain works like you know you do something enough times and it becomes routine look everyone has habits good and bad habits and they're made the same way like people that eat junk food is why is it because you kept doing it you've done it so many times you keep doing it like you got a good habits he's speaking to me you got you got good habits it's because you've been you you've been doing it for long enough it's the same thing like cool that's one homework we got there there's other ones like I say every single time when a new when a new technical is a talk like a fair value break a block Market maker model I say show me examples because that's the only way you're going to engrave it in your brain right like the the one that we mentioned the find the high and the low of the week There's a worse one the one after that is the times at the high in the low of the days made for six months of day off I remember that for six months cuz high in the low of the week traumatizes for for the next one is like high or low and you'll see like usually the opposite end is made from Midnight to like 5:00 a.m. New York time and um people think that oh the high the day is that must be made in New York then no it's not it's made after New York the main end of the range being the high of a bilish day or the low of a bearish day is made after New York but what does it mean if it's made after that means expansion was made in New York did you get what I'm saying because to make that low from the high the in between is expansion is it so that time in between therefore means expansion which is the New York open Kill Zone the New York open Kill Zone usually expands and then it closes off a bit after but these things you do it and you see it cuz I can tell you that and you might not you it might not you might not have deeped it like that when you if you go on your chart right now and you go and do it and you you do it for six months and you see it you're going to understand okay I know how a bearish day forms now now you know when you know how a bearish and bullish week forms a bearish and bullish day forms you have a big Advantage because now you know how to position yourself in a bearish and bullish day and the likly times it's going to happen all you got to do now is get good at is the day going to be bearish or bullish if it does if the day is going to be bullish oh I know how that day is going to form I know how to align myself in that day then and the time of day that's going to happen and that's as simple as trade it can be that itself can be a whole model daily candle prediction if you're a New York open Kill Zone Trader all you need is a retracement entry an optimal trade entry that's it you don't need something quirky and we don't go on anything under the five minutes as all I think anything under the five minute Creeps in too much error one minute you know um the one minute to the five is a 5x more candles mhm and one thing I say to people is the 1 hour is the intraday time frame because 5 to 15 is what multiple three what's 15 to 1 four there's not look at your 15minute chart like during a in in a in a 24-hour period of a day right from Midnight to midnight look at your 15-minute chart and look at your 1 hour chop it's not that different M it's really not that different I think 50 minute is probably the best entry time frame I think 5 minute is uh we use 5 minute in the sense of like look if there's a 15-minute displacement candle cuz it takes three it takes um three5 to make a 15 right one displacement candle in that 15 might have a fair value gap on the five yep that's the only time where a five minute will be applicable for for us to use it it's just to like we know the 15 and five have to be in line and the five is just getting a bit more Precision on the 15 simple doesn't have to be complicated literally that's it I love it and you know I wish we could keep going for many many more hours that it's not easy to get a hold of you in particular yeah you've been running away from me for a while we managed to get him which I'm so happy for and it was a pleasure to have both of you and I think you know one thing that will be hopefully something maybe that a trend could be set is a with their Mentor you know someone who's process I'm pretty sure there's some there's there's loads of people out there that should be able to do it I mean it's kind of putting your money where your mouth is type thing isn't it definitely it definitely and it's been a pleasure to have both of you with us today and fingers crossed maybe we can set up that Round Table you know that would be sick that would be sick yeah but everyone if you want to see om more on a day trading show please do let me know he's running away from me I swear but no drop a comment your biggest takeaway from this episode I know there was a lot of actionable stuff as always um we wouldn't expect any less from Omar I'll try and avoid saying nbb but um I know you want to see a part three no doubt or wanted more and I'm sure we can get it we'll give some time and then we'll see where we're all at uh but hit subscribe and until next time everyone take care [Music]