“Find the right direction on your path”
Michael T., 31 years old, from the USA.
Michael has successfully passed our Ultra Buying Power program, and he is now TTP’s funded trader managing a $260K 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 Michael about his trading plan, insights, and lessons gained while trading in the markets and our platform as a funded trader.
Michael’s evaluation statistics
Q&A With Michael
Tell us a little bit about yourself
My name is Michael. I have degrees in finance, economics, and accounting. Went the trader route on my search for freedom and wealth. I gained my passion for markets during the medical marijuana penny stock boom around 2012 and haven’t looked back.
How long have you been trading?
I’ve been a full-time Trader for 11 years
Briefly describe your trading plan and how it contributes to your success
Every day I am looking at my watchlists, scanners, news, internet, and trading friends ideas to see if there are any of my setups available to trade. This has helped bring some consistency during ever changing market conditions.
How did you adjust risk management to your trading personality?
By allowing myself to risk more on high quality trades while still having a max loss and usually trading at least a few ideas a day.
Describe a key moment in your trading career
I worked at a prop firm in 2015-2016. My only trading strategy at the time was not working and I blew up my account there. That forced me to grow as a trader and figure out what went wrong. It also forced me to really think about how I could set myself up for success in the long run in this business. For me, that involved doing things outside of trading so that I could learn without relying on income from trading to pay my bills.
How long did it take for you to become a consistent trader, and what aspects did you change for that?
5 years. Hardest part was scraping money together to keep trading.
What is your mental/psychological strength, and how did you develop it
Stress management. We are the ones who beat ourselves up and add more stress to our lives, which makes it hard to fix, but is also empowering. Taking ownership of this has been more important than learning anything new about trading and markets.
What was your strategy for successfully passing the evaluation phase?
I traded a pretty wide variety of ideas, both long and short, so I can’t put it on one thing.
How is trading for Trade The Pool different from trading by yourself?
You have resources at your disposal to help you learn and by being a funded trader you have the ability to withdraw some profits while still growing your account/keeping the same amount of buying power.
What would you recommend to someone who is just starting with us?
Find the right direction on your path. I would recommend different things to different people depending on their circumstances.
Share online resources that were/are significant in your trading development. Names and links are appreciated.
Reminiscences of a stock operator is my favorite trading book as it came recommended by my former prop firm bosses. Countless books, podcasts, articles, and working with other traders have also been key.
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