The Trading Mindset that turns $100 Traders to Millionaires

When you have nothing, do something quick. The chief of the village is a woman. You are my mother. When you have money, do something about it. In the vast expanse of the endless sky. The msa is yours. Thousands upon thousands, What's up? What's up? What's up? What's up? Where are you going? unareke The msa of the unaozi Minafujia the ninja's house, the aliti, and the unitedari. Country of the Zaghulans atuka liji issancho You are the one who can guide me on the way with a rush Chinapadbello Chiniapadbello Tuline military Mubibili Milda KwaWasinakiti Me For the builder and the craftsman. Thank you so much for having me. My name is Doctor. I have been a trader for the past 6 years. Wow. Congratulations, that's quite a long time. How many years have you been in the camp? Since 2014, I've actually been marking my 12th anniversary. And we had an event at Kempinski with our trading community. On the 4th of July, which also serves as the Independence Day for the United States. Peace be with you. Welcome to the celebration, I have one for you out of 12. Who is the leader? What is the name of the river, and what is its source? Hapuswapu. Therefore, thus, for the sake of your own well-being, from my own self. Day by day, like this. M bezia. Dr. Tari, for a person with malaria, what is the dosage? Here. I am tired from walking and want to rest. For what reason and from where did you come? Here I am, your companion, arriving from afar. Okay. Yeah. So, from going from being a beggar to becoming a wealthy man? On the island of Kutivu, trading. Here, many, You can't do it, but you can try鸟类 kumiburuzi kutoka ina valuable, Kumiburuzi Soko is valuable. I am your friend. You can from YouTube channel I was from there, the ones from there, from the forest. It can come from India. Hi, I'm sorry I forgot about you. I would say I became profitable in 2018. Alright. And that brings us to the first conversation I'd like us to have. Understanding and executing trades quickly as a skill. You know, we have many people who are always thinking, Today I'll just wake up and buy, tomorrow I'll sell, or in the evening I'll sell. They're viewing it as a side job or perhaps something they'll do in their spare time. But it actually requires consistent practice and repetition. Dr. Ri, how was your journey like in that regard? And how would you connect that to your journey? So at first, most of us enter trading based on whatever we see on social media, The more you trade, the more you realize it's more of an illusion. It's a marketing strategy. People will show you the high-end lifestyle, the lavish lifestyle, the enormous profits, But people don't show you their process. So we come to the industry's misinformed perception, only for you to realize that trading is just like any other career, And you just need to build a business around it. The earlier you realize that, the better. That's when I sat down and decided to build a mechanical trading system. So it requires skill, something you have to learn. Of course, just the same way you can go to YouTube right now and watch a video on how to perform a circumcision. It's really dark. But can you do it? You can't do it just because you watched one video. It's like, I'm pretty sure you've played this game called Euro Truck Simulator. The one for delivering things. It's so easy when you play it on screen. But just because you've played the game for five years It doesn't mean you can just go out onto the streets and get a job driving that truck. In the real world, you need to have experience in order to drive that truck. The same applies to trading. You just need to know how to trade on a demo. You can trade on a demo account and make a lot of money. But the instant you step into life, you come to realize that There's more to this than I knew. That's when you have to practice the skill first. And then, when you feel ready, you can go in. But in the end, emotions will still be there. And that is what usually trips us traders up—emotions in general. So what I can say is that it's a skill, yes, you can learn it. but it's more about self-discovery. Just as I stated earlier. Okay. Now, during the learning process, I think one of the things that people normally come to realize is that life is fleeting and precious. That there is a vast amount of information available in the online space. You'll find videos with millions of views and they are titled the best indicator to use in 2026 and then the best strategy, the easiest strategy. You'll receive all this information. Actually, I think there are millions of videos. Everything about forex trading and trading in general. How would you advise someone, Sylvia, to actually know How to filter out the noise? There's just too much when you're on YouTube. You just don't know who to trust, who to listen to. This is what I would advise. Attach yourself to a professional trader and be under their care, quote unquote guidance and be under someone who will teach you the basics. Of course, you will be given assignments. which you need to follow through with. Then supplement that with the current content available online because if you just go online, you can experience something known fucks as information paralysis because you cannot digest everything all at once, or even in parts. I think the best way is to find a trader. Who's been trading, say, on Wall Street? or if it is in Germany, for example Frankfurt is the financial hub of Germany. If it's in Europe, you can go to the UK. They also have their exchange there. Identify it—it's very easy nowadays. to attach yourself to an online mentor or someone whose books you have read, published books. This is a professional whose track record is evident. Also, we do have local mentors. I'm glad we also have Black faces nowadays. Who are Africans and they are professionals who have been trading for years. Inasmuch as we have a young Kenyan market because the first broker actually came to Kenya in 2018, 2019. It's a relatively young market. but that does not mean there are no institutional traders, retail traders who are masters of their craft. What we say is, if you have invested 10,000 hours in learning something Then you've become an expert at it. When converted into time, it amounts to five years. Doug is an expert because he has put in the 10,000 hours. Together, we have 18 years of experience in our consultancy. as a lead strategy provider for copy trading solutions. Also, speaking of filtering out the noise, Think about it this way. You want to start playing basketball. motion is a fundamental concept in physics that describes the change in position of an object over time. It is a vector quantity, meaning it has both magnitude and direction. The motion of an object can be described in terms of displacement, velocity, and acceleration. Displacement refers to the change in position from the initial to the final point, velocity is the rate of change of displacement, and acceleration is the rate of change of velocity. Motion can be linear, circular, or oscillatory, depending on the path the object follows. Understanding motion is essential for analyzing the behavior of objects in various physical systems, from simple mechanical devices to complex astronomical phenomena. The next day you come, it's triangular. The other day you came, it's circular. Next week, it's zigzag. You'll never master that pitch, will you? The more you study a lot of things, You experience information overload. Yes, you understand everything, but when you start trading, You experience what we call analysis paralysis. This strategy dictates this, and another one dictates the opposite. But both are giving you A-plus setups. Statistically, every strategy works. because the market needs to give you a reason to come back next time. Just focus on one thing and write about it. Let me also add to what he's saying. For me, I'm a price action trader, technical analyst. Under technical analysis, we have approximately eight strategies. So you can follow the trend. You can be an Elliott Wave trader. You can be a Fibonacci trader using indicators. or a moving average type of trader where you're depending on indicators to provide you with a price entry, Set your target, stop loss, and take profit, then exit. You can also be, under trend following, You can also be a dark pool. something like an order flow institutional trader where you're following the big money. So firms such as Goldman Sachs, Morgan Stanley and institutions on Wall Street, for example. Under technical analysis as well, You can also be a position trader or a swing trader. where you are relying on the time horizons to determine your entries and exits. And then if you're a short-term trader, then you're an intraday trader or a scalper. There are so many strategies under TA. So identifying your trading personality It comes down to your risk appetite. Are you risk-averse? Are you risk-seeking? Or are you risk-neutral? So all those things you need to, like he said, A journey of self-discovery. When you become a trader, you master yourself. And that is where psychology comes in. because you need to understand who you are as a person, What is your risk appetite? What is your risk personality type? and who you are inherently as a person dictates your trading style. If you've been looking for a professional firm to help you scale your trading journey, Then GoFundMe Trader is worth checking out. With over $23 million paid in trader rewards and more than 250,000 traders worldwide, GoFundMe Trader has become one of the leading names in the PRO firm industry. 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By using my link, you'll also be supporting the podcast and I genuinely appreciate Everyone who does. Now, let's get back to today's conversation. Amazing. Speaking of psychology, it comes literally after you've already Acquired the skill. You already know that right now I know how to trade; I have a strategy. And it's working. Now I need to work on my psychology because it doesn't make sense that you're working on a psychology and What exactly are you? What are you working on? Tell us about your journey in terms of How have you been? able to conquer different stages. We have the fear stage, all these things that affect your psychology as a trader True. First, you cannot work on psychology without a proven working edge. An edge is something that gives you a positive expectation over a large volume of trades or a large number of transactions. And if you ask very many traders How many trades? Have they executed in a live market? Very few can present a thousand setups If you have a certain win rate, you can Use the MT5 strategy tester to know the win rate. You can backtest that, that's a dead market, but now execution on live money or a live market. Forward testing. For psychology, it narrows down to two things. It depends on the stage you're in. Learning stage or you're now a full-time Trader. We even have part-time traders. For me, I wanted to become a full-time trader. What disturbed me the most was greed You make money today and you This thing really has some money. The moment you've tested money from the market, now You know there's potential somewhere. You want to make more. Back in the day when we started trading, We had very few regulated brokers in the country. Any offshore broker was offering You are to unlimited leverage as long as you executed 5 lots on a live account. It was It's very easy for you to take excessive risks. For me, it was greed. At some point I sat down and saw that Greed affected me. Because I wanted to make the big moves. I used to focus on the fundamentals. You find that this month I could make some money, and then I'll Work it out with just one move on maybe US30 or NAS. Back in the Day, the fundamentals were extremely chaotic. 2022, 2021. That greed. I had to step back and see what is really affecting Me. I have good performance. but my greed is ruining me. At first, I stopped executing during fundamental releases. The first The next step is to identify what is affecting you. Then you come up with ways. The only way to identify that is, if you have an emotional journal. We usually Talk about journaling. We journal our trades. But we don't talk about an emotional journal. When you get into a trade due to fear of missing out, when you got out of a trade because You don't want it to hit a sale; you're like, let me cut it. This loss. We are humans. The more we experience pain In the market, we become so numb. and you'll find yourself that you can hold to losses so long and when you see Some profit, you just close it. There's a lot of emotions that affect us traders, but all I can say is, identify and then find a way around it. Any opinions on that? I I completely agree with what he's saying. Fear of missing out and also greed. Greed comes in like if you don't stick to your risk management policies We say that forex trading It is high risk, high reward. Meaning that your risk here is your capital or what we call your equity when you add your profits and your losses. There's something called an equity curve. Once you start trading, your net profit, whatever comes to your account, is accumulation of both profitable trades and losing trades If you're a professional trader, Your winning trades exceed your losing ones. trades and there are statistical metrics for that which we will come to. We say that the basic The thing is, there's a risk-reward aspect. The ratio of 1 to 2, 1 to 3. That's the bare minimum. You can afford to take greater risks. depending on how large your capital is position sizing is If you keep adding to your positions, as if he's saying in the matter of greed because you want to make more, You will keep adding to that. position. At the end of the day, you might end up losing your entire capital or what we call blowing an account or receiving a margin call because you're not keeping maybe your position sizes You have a variation in your lot sizes. Maybe if you're trading basic instruments like the Euro, USD, or the Pound Dollar or the USD Yen I tell beginning traders to stick to a lot. size of 0.01 You'd find other traders opening a lot 0.05 in size and their account size is like $100. At that particular Point, you're risking way too much. Then there's also that aspect of fear. yourself missing out. You find that maybe there is a fundamental news item such as the CPI, the Consumer Price Index or the common one known as the NFP, the non-farm payroll that comes out every first trade of every month There tends to be very high volatility. and liquidity in the markets at that particular moment. What I advise people is Don't trade the news if you don't know how to apply risk management Avoid trading on that day and don't fear missing out. Oh, the NFP has passed. You live to trade another day. The markets will always be there. That's something we need To remind ourselves. The markets will always be there. Is your trading capital Are you going to be there all the time? If you don't have risk management, you will end up losing your capital Then what happens after that? Your journey into trading keeps Stopping and then going back. It's not consistent. Interesting. You talked about an aspect that I find very interesting because I'm really into that, actually. That is journaling. I see many people. who cannot tell you how many trades They take in a day. They cannot tell you how are they able to execute from coming up from the multi-time frame analysis to the entry model. They don't have that. They just get into the market. They just look at the chart They can't tell you how many trades They took it last month or last week. Is there a specific tool that you Personally use for journaling? I've used Notion. It's a very good website. I have a friend of mine on X. Who is creating a journaling template? for Kenyans. It's called the By the way, Trading Journal. Sometimes I use Telegram. You just create a channel for yourself and then you Subdivide into several topics. For example, pre-market and the like. Have you used Tradezilla? I've used it myself. I wanted to use it But I've never used it before. But I saw it's so good. The one I'm telling you For Kenya, it's like a replica. of Tradezilla. It is now ours Tradezilla. My journal It's simple. I just journal. my weekly market outlook which I do every Sunday. Then I'm an intraday Trader, so I also have my intraday market outlook that I do every day after the Asian close. Then I have mine, of course, in session journaling if I'm on the charts. I'm not allowed to get into the charts if I'm not at my workstation. It's one of the rules in my trading plan. Then I have my end of week End-of-day review every day before London close and end-of-week review every Friday. So I write all that down in my journal. Besides that, I have my emotional journal. So you do them. differently? They're the same but now the emotional journal, I'll journal my emotional state before I enter the market if I'm okay. If I want to trade, If I have things that are affecting me in my daily activities So if I'm not in a position or don't feel like I don't want to trade, then on that day I'm not supposed to to be trading. Because I found out whatever is happening around you also affects the way you trade. The pressure, anything. Maybe if you have pressures to pay bills and stuff, you can bring the pressure to the market and you end up ruining your account. So I have that. I also keep a journal. before I get into a trade. Because I use limit orders, I'll have to keep a journal state of mind. Am I anxious? Do I have Fear? Are there any fundamentals? Coming? Something like that. I journal absolutely everything. So it becomes your mirror. You come to study yourself and you begin to see some patterns That way you can easily correct it something that you can stop doing I think that's a very beautiful aspect. of something you've just mentioned. Seeing patterns. The way every time you're trying to write it you're going to notice This is the the psychological aspect I am dealing with It is either fear It is either greed. That is the only the way you're going. Because you're going to do it repeatedly. It even appears in the markets. When you're spending so many hours on the charts You will start seeing patterns. in a specific currency pair or a specific market you are trading. You'll be like, oh so this is how gold actually behaves. And you start seeing things that other people are not seeing Every time in the markets. That's why I love the moment you just mentioned consistency in repetition of everything. In the charts In the journaling. It is everything. Any opinions on the matter? For me, I believe in writing down pen and paper. Because when you write it down there's a part of it that goes to your brain and it becomes part of your subconscious For me, I do most of my journaling on my own personal diary I tend to say I'm a swing trader. I hold my positions for some days. Then I will conduct an analysis. For this particular week, these are my winning trades and these are my losing trades. Then I go back in time and I establish how was I feeling at this particular time when I was carrying out this particular trade. Why do I have X number of winning trades in relation to losing trades? What was going on in my mind at that particular moment Time? Outside How is the trading environment? At home? What is my relationship? With the people I live with? How does that translate into my work? Because it's very it is also important to realize that the environment you're in also affects your performance. I tell traders if your psychology makeup is not Okay, it will. affect your performance in trading, that is why I highly recommend There is a performance. Coach Denise Schall. Her work was actually featured. on Billions She is a performance coach. and a trading psychologist for people on Wall Street. She has her own consultancy for trading psychology Another one would be Brett Steinberger They have published books. Those books have been adapted into movies and films. I tell people, sometimes even the content that you consume also goes into yours brain power. Watch what you consume online as well and to sharpen you your skill set The only competition you have is yourself. You want to become a better trader. than you were last year. The only way to do that is to nurture your trading skill set by what you consume. Now, when I'm looking at my Performance, I'm not the same trader I was three years back. Why? Because I have continuously Improved my process, My trading process. That refining your trading process is a journey, As you were saying, it's a journey of self-discovery. journey. I feel like Sometimes we need to create a documentary. of our trading journey. At some point, we will get there. To just show people the reality of the process, which is not Fancy, it's not what you see Lamborghinis and people on yachts. Those are good things. Those are good things. I don't dispute that. Show people the process. Show people this time I lost money. Did I? Learn from this? Did I write it in my journal? So that I don't make the same mistake again. Wow, interesting. I'm here to tell you about the broker I work with. personally recommend. When it comes to execution, transparency, and withdrawals These truly matter. Zealand's markets offer raw spreads plus Only $3 commission, Offering you the best spreads in the market. No broker ever goes lower than this. You get fast execution, stable trading conditions, and instant deposits and withdrawals through M-Pesa and cryptocurrency. No waiting, no unnecessary delays. This is a broker built for serious traders who value efficiency and trust No hidden games, no excuses when It's time to withdraw. Just a solid trading environment. If you're looking for a broker you can rely on, Zealand's markets are worth checking out. The link is in my description. and pinned in my comment section. Now, let's get back to the video. You mentioned something right there and it clicked, like when Most people are just starting out. They will mark. raise their charts so crazy. He has drawn supporting resistance, he has Added the trend line, we have five indicators. running, and then you look at the chart and you're like, I can't even see I don't know what he sees in this chart but he's just pressing buy and sell after looking at a chart that looks like I've ever seen, like, when A kid just draws. Some stuff. It dawned on me that as you grow as a trader you start realizing that the simple The simpler you make it The better it is for you. Maybe, what do you have? What about that? There's this famous quote that goes that trading is Simple, not easy. The simpler you Keep it, the better the results you'll get. Get. The more you complicate it The more confused you become. People think that trading is like some astrology course where You have to understand a lot of things for yourself. to make money, you just need to understand One model and start making money. But you have to get data first on one model. If you study some of the the greatest traders, they have been trading just one thing over time and profitable trading is boring because you keep repeating the same Things every day. There's nothing exciting. about being profitable. You just have to wake up up. For example, for intraday trading, repeat the same thing Every single day. Wait for the same pattern. every single day. But we humans We want to get excited. Something. That is boring is now not fun. Just because you get maybe a 1 is to 3 hours; you want to learn this guy's The strategy is because he's making 1 to 50. That is what we said. You're going to experience information overload. which leads to analysis paralysis. Just keep it simple. If you look at my chart, you'll just notice At most four lines. on the chart with no writings. You just keep it. Very simple. Yes, and very clean. What about you? I also confirm that and I also say slow and Slow and steady wins the race. Let your trading The process can be simplified. That is not to say that you don't have your rules and your rationale for entering trades but when you refine your trading strategy, you're able to identify key areas on the price chart for example, as a technical analyst or what we refer to as a price action trader swing highs, swing low, and then we say The trend is your friend. If the market moves in three ways it can either move up or what we call an uptrend, it can move sideways, what we call a consolidation or a range And then it can move down. For trend followers, we tend to capitalize on the liquidity when the market is really moving, either up or down, so we say You're either bullish or bearish. It's very Easy. Identify areas of support and resistance, and then Confirmed. For me, I confirm it with an indicator called the Fibonacci The Fibonacci has both extensions and retracements. There are very particular numbers and also Fibonacci trading actually outside of trading has been confirmed to be behind when a rose is blooming and removing the flowers There's a Fibonacci analysis of that. Brain power, also because we are humans Also, we have a Fibonacci sequence. the Fibonacci numbers, exactly so the way it works is like You do 1 plus 1 is 2 1 plus 2 is 3 1 plus 3 Is 4, so that's the Fibonacci sequence and its statistics and it goes like this in a circular motion so there are keys numbers, what we call the golden ratio in Fibonacci analysis 0.618 is very critical, and that helps you identify areas on a price chart where you are able to say setup plus trigger equals my entry zone and setup plus trigger plus risk management equals my take profit or my stop loss and my exit It's very easy. the easier your process is the better it is, and we say statistics don't lie, we're in the mathematical, our trading journey is also supported by statistics not just in risk management, but also how you buy limit, sell limit order type so in the end, mathematics Confirm your analysis. Wow, interesting so you are basically you trade the trendline Yeah, I'm a trend follower. What about you? Structure pure market structure and liquidity And that is very important. because we say everybody might have their own trading style But it works both ways. so you just need to identify What works for you, and repeat what works. For you How important is multi-time? frame analysis for you and how do How do you go about it? Just break it down. to us so that we can be able to just visualize it Okay, so as I stated I have two types of analysis. The weekly market outlook and the intraday Outlook, so for the weekly I have to do it on Sunday. before the market opens Currently, I only trade GBP/USD. So I look at the daily time frame and the forward time frame those two time frames going hand in hand Those are my higher time frames. so when I look at, when you talk about multi-time frame analysis I want to understand where the market is headed. so you will see where the market is coming from, but you want to understand where the potential move is because In trading, you are going to be paid for trading that. next move so I look at the daily time frame and the forward time frame for weekly for my weekly premarket analysis before the market opens, the daily time Frame structures take a long time to form. So you're not going to be updating them every single day, weekly, or even monthly, for example the swing structure We are currently trading on GU, which has taken a very a long time to form, so I want to Know am I trading on the pro trend or the pullback face on the daily then I look at the forward time frame the same thing, if I'm trading on the Pro trend on D1, I want to see a couple If it's bullish, I want to see a couple of bullish swing structures on the forward time frame the moment H4 turns bearish I know The D1 pullback has started so since I'm using a bullish example The highest point traded is my weak swing high. Then I'll mark the fib. For my FIB it's so simple, I have the premium. and discounted prices EQ at 50 so if in a bullish market on D1 every single demand formed In the previous swing structure, there is a counter target. so as I trade this pullback I aim at those demands. I don't trade in order to eliminate demand. because in a bullish market demand takes out supply, so I just target the demand, then look at H4, in case I see a bullish break of structure on the forward time frame, that's what I call an order flow realignment H4 is now in line with the previous D1 swing structure, so in this case I'm targeting the D1 weak swing high So I trade the next D1 swing structure That is D1 H4 intraday premarket analysis H1 M15 so D1 H4s are my higher time frames That's for swing, no I just want to know the trend; you're not trading. Them, no, you're not getting any energy. Am I trading the pullback or the swing? Interesting, so for intraday I'll mark H1 and M15, these are my middle time frames, this is where I take point of interest, where I'll trade intraday so in this case, I'll also mark what I call inducements, inducements are major session highs or lows, previous days high and low, and previous week's high and low that way, so Every single day in the morning, I told you I do my analysis after the Asian close. So I'll mark the Asian range. because I'm an intraday trader, I'll use to come up with my London bias If I hadn't traded London I'll look at the Asian range London open price action to know whether I'm trading the London continuation for New York or a reversal Yeah, that's how I break it down. down, but in all time frames, the same How I mark the structure on D1 and H4 is the same way I mark the structure on H1 and M15, I'm interested to know your entry time frame my entry time frame, so I have HTF, D1, H4 MTF, M15, H1 My entry time frame is now from M5 to M1 M1, so once Price trades into my POI, I'll drop to M5, M3, or M1 to look for my entry model, because I Trade only one entry model then once I have my entry model, I only trade a fixed 7R target so TP1 at 3R, TP2 At 7R, it doesn't matter how promising that the move is going to be I don't want the old move, I just want 7R. How often do you get 7R? Last week I had two setups. I'll show them to you when you look at the statistics. I had Around 6 setups, I use limit orders, so my entry model has conditions under which it is valid and conditions under which it is invalid so the trigger trades I had last week Only 2 out of 6 so in a week, maybe 2 or 3 setups triggered I think to simplify the terms, because we might lose some people, especially beginning traders We don't want to use a lot of jargon, like when he says M15 15 minutes when he says a pullback is when For example, the market is in a range. you're looking to basically trade that gap or Trade a breakout strategy to get out of that particular zone, right? and then demand zones, D1 and so on. D1 is the daily time frame H2O is the forward time frames so the time frames Different people have different time frames. but it's best to know which time frame you're taking for entry And what time frame are you using for the analysis? If you're looking for ways to automate your trading with a system that has a proven track record then you need to check out BMM. One of the biggest challenges that traders face today is finding consistent quality setups and spending hours glued to The charts. BMM solves that. problem using advanced AI-powered scanners that identify high-probability trading opportunities across the markets. When a setup is found you receive a clear buy or sell signal together with TP1 TP2 and TP3 targets including a stop loss What I really like about The thing about BMM is that it gives you two ways to trade. The first is tap to trade. This is where signals are sent directly to your Telegram and can be executed on your MT5 Account with a single tap The second option is full automation. This is where BMM can execute trades. on your behalf, allowing you to stay active in the markets without constantly monitoring the charts. Today more than 1,400 traders are already using BMM scanners and automation tools to save time and trade smarter. So if you want to learn more and see how the system actually works Click the link in the description. and on your screen, get started with BMM today BMM, trade smarter and more. Personally, I love your strategy would love to have us talk about it on the podcast. It's quite Interesting. Guys if you want us to have Daktari on the next podcast talking about His strategy, just comment the word strategy comment the word Daktari again and I'm going to make Sure, I'll bring him. You guys love him. when people come to expound on your strategy when You learn different strategies. as intermediate traders as beginners You are able to know which one would work. Well, which one is easier for me? Which one is simpler for me, and of course you never know which one would actually work for you. So Daktari looking forward to actually having you right here here and you know you show us your strategy. It's quite Interesting. We are almost Coming to the end of this conversation and of course I've really, really Loved it. But one thing that I do understand that In your company, guys offer copy trading. Just before we Talk about how you do it What do you look for? for a client before deciding that they are going to take the copy trading solution. So I'd Begin by introducing what copy trading is. is. So copy trading in a nutshell is delegating trading to a professional to trade on your behalf in exchange for management or performance fee. The reason this came about because The Capital Markets Authority does not allow traders to take deposits. You are not Allowed to give me your money to trade for you because in In our industry, unfortunately, we have good apples and bad apples. We've had people take money from people and run away or close offices and basically scam them. So the legal way of going about it It is you who open a trade account in your name with a broker Who is regulated by the CMA? The Capital Markets Authority And then you become a follower. So we are strategy providers. So when we Trade the trades are replicated by the system in your trading account. So when we're making Money you're making money. When we're losing You're losing money. But money you're losing money. The beauty of it is that it allows for people who do not have the time or the skill set to trade to become stakeholders in retail trading And that is one of the game changers I would say in our industry because Then we now have more stakeholders. and people with what I would call the finance muscle or the capital bandwidth to come and deposit money $10,000, $100,000 and be able to follow strategy providers and These are people; once you're onboarded, for example You're trading with X; I don't want to. to mention brokers here because we are not marketing any broker. Let's say you're trading with X Broker and you Follow Sylvia. You Follow Dark. My trading history and my trading performance will be Seen on the system. So you're able to determine if you come to us for example for a consultation now answering your question, there is a 15-metric criterion selection for me to determine whether number one, you can be a follower. Number two, you're Suitable for copy trading. And also in reverse, for the strategy providers, there's also a 15 selection criteria where we say, for example I am a gold trader. and I also have another instrument that I'm trading. For example, Australian dollar because it's positively correlated with gold because Australia is a exporter of gold. When when it comes to energies such as natural gas and oil, Brent and WTI, It is positively correlated. to the Canadian dollar, which we call the loonie because Canada is a major exporter of oil to the United States So what we say is the diversity of instruments traded. You want a strategy provider who Is trading a larger portfolio? so that if something was to happen in the markets that would affect a particular instrument, it doesn't entirely affect your entire portfolio. That's just one of the reasons. Another, I'll just give maybe two or three, but if you come for classes you will learn more. Another thing that You need to know What are your financial goals as a client? As a copy trader, Is my goal speculation? What do we call retail trading? Is my goal investment, what we call reinvesting your profits in your trading account to become more like a business and an investor? Or are you simply a gambler because if you don't know how to trade and you're following a losing strategy If you're a provider, then you're basically a gambler. You don't know the metrics you're looking for. And the last one, the most important is your risk tolerance. And this is usually what I give as an example. I would ask Ali, for example, if I Give you $10,000 today, How much would you deploy to a strategy? provider and how much would you Don't touch? So there's something called a rescue level. So if, for example for example, you decide from my $10,000 I will only give Dark $1,000 to Trade with me, then I'll know you're willing to take risks. averse. You don't want to employ a great deal of your money into trading. However, if I I want $5,000 to be traded and $5,000 To remain untouched, then I know I'm at risk neutral. Such a client is risky neutral. And then if I'm very risky, aggressive—I can say maybe 80% of my portfolio, Silver can trade for me. So I Classify you into those tiers because I need to know what is your risk tolerance. And then I know, okay, so for example, If Dark is an intraday trader, then I know I need to be trading every day. I need more volumes in order to be able to generate returns for me. If I'm A patient person, I can hold my ground longer than I'm a swing or a position trader. So there is an exam that We do. It's not an exam, exam. paper, pen, and paper, but it's just selection criteria metrics that we used to be able to see if You're suited for copy trading. Very interesting aspect right there. If you really want to Learn more about the copy trading solution, Please reach out to Sylvia. I'm going to put her through. links there and also The number you shared with me, I'm going to put it in. Right there. You can reach out to her. And of course, I'd also follow up on the Copy trading section. Do you show your clients like that? history of past performance? From the first day of being onboarded by X broker, you're able to see the equity curve. So the equity curve is basically on X axis is time and on the Y axis is your profit and loss curve that now becomes equity curve. So we say if you're in the red zone, you're basically below Zero. The price is below zero, so you're losing. money. And then if you're on the green zone, it means that your profits are above zero and you're Making money. So how should it be? It should be going up. Sorry, I don't Maybe you know if you have the question. I think I'm asking about your strategy providers. I'm talking about your track record as strategy providers. That's the figure I'm arriving at. It's shown. like this transparency of data for There's something called percentage. gain. Drawdown, which is the accumulated number of losses since you started being on that platform. There's now the equity curve that shows the graph of your profitability It should be rising like an uptrend. And then there's also something called a margin, which is the RELATED TO THE CONTEXT OF THE ORIGINAL TEXT profit. Margin is basically profit. So all those and then there's the price-to-earnings ratio, There's the risk score, the suitability score. All those are profit factors It's all there. So you can see all that before you decide into that. And we actually take you through all those metrics and the numbers and we show you this is what would be ideal for a profitable strategy provider. Okay, last Question for your end. Is it a profit split or is it a subscription-based model? It's a percentage profit sharing We say that an affordable a strategy provider would ideally charge you between 20 and 30 percent profit return percentage Moderate would be 30 to 40 percent and inexpensive would be 50 percent. There's a disclaimer there. I might be charging 50 percent. But I'm giving you consistent results. on a month-on-month basis I might be charging you an affordable one which is 20 percent but I'm not consistent. So you also need to identify the profit return or the profit factor for this particular Strategy provider. Amazing. Thank you. Thank you so much Hey everyone, thanks for tuning into this podcast. Really learned a lot. A lot. Really loved the insights you shared. For Dr. Terry, I'm going to hold a few questions we're going to ask Right now. We're going to do them. in our next episode because I feel like you will sit down with us, show us How do you enter the market? Show us. your previous trades that you took Using your strategy, and I feel like that's amazing. A way to actually do the thing. But for Sylvia, I truly appreciate You. I have a final. Yeah, I'm getting to that. Don't worry about it. I truly appreciate your time and Coming to give us 11 years of, 12 years actually from pure market experience. You're welcome. I'm now at the point where I say that if there's anything that I haven't asked, anything If you want to talk about it, it's your time. It would be a disservice. to end this podcast without saying if you really I want to learn this skill. We have enough resources. on our website which is www.forexstl.com. Just go to the The education tab. Everything is there. Go to our YouTube channel. Join our trading community. We have something called Trading Tuesdays. We do live market analysis during the New York Open. I actually hosted Dak was on one of the sessions. The things he was talking about are explained in a chat like a beginner level, entry level We try to make it very simple. I am also an author of a book titled 222 Days of Forex Education where we cover the basics of trading, which is trading technical analysis, fundamental analysis and trading psychology. My second book is coming up, which is called Conversations with Trading Titans. You will be On that as well. No way. Because we did a podcast together I have that coming up too. That's amazing. Dak here too. Everyone who's been Featured on my YouTube is a trading Titan. That's amazing. Dak, anything What do you want to say? About trading, what I can tell Is there anyone out there? It's not a get-rich-quick scheme. scheme That's why I usually appreciate podcasts. like yours, where you come and educate People. I'm a huge fan, by the way. Thank you. I really appreciate it. People need to take time and Learn. Just like we said, It's a skill you have to learn. practice. Even when you go to university, there's a time you go for attachments and you come back. You go for internship before you get into A real job. People should treat trading like that. You learn, practice And then you come in slowly. You build a business around it and a career around it. Personally, I've shared my journey for the last six years in my Telegram channel. I've been doing podcasts where back in 2023 And in 2024, I had a podcast. series for 24 months, every single month That was called Pay the Trader. The episodes are there. Last year, I had a podcast called The Subconscious Mindset of a Trader And I'm writing a book on the same topic. We were studying how our beliefs, how How we grew up affects our trading. That's what we were looking at last year. For me, I usually encourage a rule. based system. For someone To start trading, they sit down. and construct a system based on mechanics. I've had videos on the same place where you usually go through it how to build it from scratch, creating a trading plan, a routine an emotional journal It cuts across all strategies. It doesn't matter which The strategy you're using, you can just apply the same. You just bring the routine, the journaling part to your strategy and then you build something around it. If you follow me on Instagram, you can see my link. And then you can join at Naktari7. That's amazing. What I also encourage traders is that Trading is something that usually brings us into a mental torment state. You need to have a group of traders where you can Sit down and talk about it. Don't hesitate to tell someone that you're in a drawdown, you blew your account, You lost your funded account Because everyone wants to show the victories. Very many Traders, statistics don't lie. What do brokers say? 90% 90% of traders lose their money within their first 90 days. And then of course 75.9% and above of retail Traders lose money. Those disclaimers are even included in the brokers. So get maybe. If you don't want it, there are people who do. shy, they don't want communities, you can get an accountability partner. It could be someone who isn't trading, a family a member or a friend. They don't have to trade, you just need to tell them that they are Messing this way and stuff. And also as a trader, try to interact with others professionals, and you see how they perceive it life. And trading is very addictive. We become addicted to the charts that make us forget the outside world. That's why I usually say, "Have a life." of charts. It is a life beyond trading. Yeah. 100%. Thank you so much, guys. Really appreciate it. It. Do not take it for granted. You guys gracing our seventh episode of season three of the Mind Over Trader podcast. So guys, thank you so much. Really appreciate it. It. All your links and numbers are in the description. So guys If you want to get in touch with Dr. Ali, if you want to get in touch with STL, is it ForexSTL.com? Yeah. That is Sylvia. Please do. And of course all the links to the guys I work with They are also mentioned in the description. So Interact with them. Disclaimer, I earn money as an affiliate. from brokers, from platforms, from TradeZilla. I do make money from that. So anytime you Interacting with that, you're supporting me in a way. So thank you so much, guys, for watching Mind Over Trader Podcast. It's been your host, presenter. Ali. I'll see you guys in the next one.