March 28, 2024

How This $20K Funded Trader Cracked The Risk Management Code!

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    “Can’t play the game if you got no money, stay alive and live to trade another day.”

    Anthony C., 24 years old, from the USA.

    Anthony has successfully passed our Mini Buying Power program, and he is now TTP’s funded trader managing a $20K account, 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 Anthony about his trading plan, insights, and lessons gained while trading in the markets and our platform as a funded trader.

    Anthony’s evaluation statistics

    Q&A With Anthony

    Tell us a little bit about yourself

    I am 24 years old with a full time job and trade part time, the markets have always excited me since high school. I now I been participating in the markets for 6 years now and aspire to go full time by the time I’m 30. While obsessed with the markets I like to unwind by going to music festivals, food festivals, travel to new places and enjoy throwing the weights around in the gym.

    How long have you been trading?

    6 years

    Briefly describe your trading plan and how it contributes to your success

    I am day trader, primarily short biased, I scan my watch list of momo names every night, write trade ideas on names I see possibly setting up (based of my edge and preferred price action) once the market I wait until my top ideas come into play, execute my trade idea and review. Plan, execute, improve, repeat.

    Share with us a challenge you faced in your trading career and how you overcame it?

    Taking a massive loss shorting a low float Chinese name, I got caught in a halt and when the ticker opened I was down near 100% and blew my account, in minutes. Psychologically it was tough but I’m grateful it happened early in my career and I didn’t have much responsibilities like a mortgage, kids etc. And I previously had the data that I could make money so I gradually built up my confidence again. I just got too cocky and was irresponsible trading the wrong name. Lesson learned: manage risk.

    How did you adjust risk management to your trading personality?

    I’ve always been a risk taker. So when I started off, I threw my risk around with no regard and would see my PNL flash up and down huge, it would make my stomach turn. Even when I won. So I knew I had to scale back and I gradually build up my risk tolerance. I found everyone has their own number they’re okay risking, it takes lots of time and proven trading system to build up risk confidence .

    Describe a key moment in your trading career

    Trust my trading plan and process. Follow your trading plan, it may not always pan out the way you expected or visualized but that’s where risk management comes into play. Can’t play the game if you got no money, stay alive and live to trade another day.

    How long did it take for you to become a consistent trader, and what aspects did you change for that?

    4 years and Number 1. Manage risk Number 2. saying I was to trade stocks is like saying I want to play sports. Okay, what sport (market)? Position (what type of trader)? Your strengths(your niche and edge)? I had to find what type of markets and names fit my personality (momo names, usually small caps) and what type of trader (short seller, majority of the time) I wanted to be.

    What is your mental/psychological strength, and how did you develop it

    Chat with traders, any of their episodes on trading psychology, any Mark Douglas material and most importantly, entrepreneurs that inspire me like Andy Frisella, Bedros Keuilian, Ed Mylett, they’re huge on building metal toughness and personal excellence.

    What was your strategy for successfully passing the evaluation phase?

    Tightening risk based off the account rules and parameters (took me a minute to adjust bc I was so use to trading larger size compared to rules). Having stop losses and locking myself out or re evaluating my trading when I get half way to max draw down on the day. Cutting loser and adding into winners too.

    How has Trade The Pool improved your trading?

    It challenges you to re evaluate how you manage risk and how good is your edge when parameters are put into place.

    What would you recommend to someone who is just starting with us?

    Get familiar with how to operate the trading platform on a demo account, understand and respect all the rules for evaluations. And have a trading system and manage your risk (can’t emphasize that enough).

    Share online resources that were/are significant in your trading development.

    Huge shoutout to Nathan Michaud from Investors Underground, Jtrader, Brian Lee and Lance Breitstein and Tom Dante. You can search them all up via X (twitter) and YouTube.

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