Michael’s advice: Stop buying in 1 chunk and scale in using TTP risk management
Michael E, From the US.
Michael has successfully passed our Extra Buying Power program and is now one of TTP’s funded traders, or as we call it, he is a true “Stock Star.”
Every time he reaches 5 consecutive winning days, we will boost his buying power and max exposure.
We spoke with Michael about his trading plan, insights, and lessons gained while trading in the markets and our platform as a funded trader.
Watch The Interview With Michael
Trading Journey
In the interview Michael discusses his journey and trading strategies. He has been trading for five to six years, learning from Timothy Sykes and his student Tim Grittani. He focuses exclusively on short selling penny stocks, looking for over-extended top percentage gainers and trading the first red day or shorting into previous resistance levels.
When asked about how he determines when to sell or buy, Michael explains that he never knows for sure when the top or bottom is in, but looks for indicators like hard cracks and resistance levels. He also emphasizes the importance of cutting losses quickly, as taught by Sykes and Grittani.
Experience with Trade The Pool
Michael praises the program, calling it “monumental” and a great opportunity for traders to prove their skills and gain access to capital to make profits. He mentions that he had to adjust his trading strategy to scale into his positions, but sees the benefits of doing so.
Michael's evaluation account dashboard
Summary
Overall, the interview provides valuable insights into the mindset and strategies of a successful funded trader. Michael’s emphasis on risk management and cutting losses quickly is a common thread throughout the interview, highlighting its importance in trading. His focus on short selling penny stocks and looking for over-extended top percentage gainers also provides a unique perspective on the trading world.
The interview could be beneficial to both experienced traders looking to learn from a successful funded trader and newer traders looking to gain insight into the trading world. Michael’s focus on penny stocks and short selling may be especially relevant to those looking to trade volatile small-cap stocks. Additionally, his emphasis on risk management and cutting losses quickly could be beneficial to traders of all levels.
If you enjoyed this interview you might like other traders’ interviews on our blog!
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