Welcome to this installment of Audacity Capital’s profit target video interview series. Today, our focus is on Elvis, a full-time designer who trades part-time but has managed to attain remarkable success over the last three years. Join us below to gain insight into his trading philosophy.
Meet Elvis, one of our traders from Jakarta, Indonesia, who has recently hit his 10% profit target on his $15,000 account in the first stage. Unlike most of our guests who trade full-time, Elvis works full-time as a design engineer and only trades on a part-time basis.
His remarkable trading journey began three years ago, helping highlight the significant strides that he has made in such a short while. Moreover, Audacity Capital is his first proprietary trading firm, proving that anyone can make it, provided they have the right support system.
While it has only been three years, Elvis has seen it all. In his first year of trading, he made some losses, which made him reconsider his strategies. He knew that he needed to learn more if he was to excel, a fact that saw him researching trading strategies online and on YouTube.
The information gleaned from the loss-making period encouraged him to redefine his strategies in favor of something simpler. To ensure consistent profit, he had to go back to the basics and once again learn about risk management and money management.
It’s worth noting that Elvis has followed a route less traveled on his journey, as he started with a live trading account instead of a demo account.
He puts it this way:
“A demo account can be great for getting used to understanding what trading is and learning how to use an MT4 trading platform, but once you’re serious about trading, it’s necessary that you do so with a live trading account.”
From this statement, it’s clear that his risk-taking abilities have benefitted his trading career, explaining why it has taken him a shorter period to attain success than most.
As he garnered more experience, he fine-tuned his strategy to include scalping. It’s a strategy that enables him to make consistent profits even when the movements in the market are minor.
His other strategy has involved aligning his risk management with his winning ratio. Additionally, before making any trades, he first takes his time to analyze the charts for the past week or month, helping him get an idea of what’s happening.
From this information, he is then able to hold a position for more than a couple of days. He adds that:
“The feeling you get from making a profit on your funded account is different from the feeling you get when you make the same profit on your personal account. This is because it shows that you can adhere to the trading rules, which is something most people are unable to do.”
For traders who are struggling to make a profit and are almost losing hope, his one piece of advice is, “Don’t give up easily.”
To learn more about Elvis and his trading journey, watch the full video here!
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