$6,160 in Payouts! Muzammel's Trading Journey – Learn his secrets | Instant Funding Trader Interview

Summary

In this engaging interview, Mel, a 20-year-old trader from the UK, shares his journey from trading cryptocurrencies to mastering Forex and indices. Despite facing multiple setbacks, including losing accounts due to over-leveraging and poor mental strategies, Mel emphasizes the importance of perseverance and learning from mistakes. His transition to focusing solely on gold has led to significant progress and payouts. He encourages aspiring traders to invest time and remain resilient, illustrating that success in trading is achievable through dedication and continuous improvement.

Takeaways

• 😀 Mel started trading at 18, initially focusing on cryptocurrency before transitioning to Forex.
• 📉 Early trading experiences included both gains and losses, particularly during market crashes.
• 💡 Learning from failures is crucial; Mel viewed each setback as a stepping stone for improvement.
• 🔄 Mel shifted from trading NASDAQ to focusing exclusively on gold, finding it better suited to his trading style.
• 🧠 Mentality plays a significant role in trading success; understanding the psychological aspects is vital.
• 📈 Consistent practice and strategy refinement led to improved trading outcomes and eventual payouts.
• 🔍 Using demo accounts helped Mel hone his skills before committing real capital in prop trading.
• 🚀 Progress in trading requires time, effort, and resilience; persistence is key to achieving results.
• 📊 Mel emphasizes the importance of focusing on fewer trading pairs to master them effectively.
• 🎓 New traders should expect challenges and be prepared to invest time and effort to see progress.

Q & A

What motivated Mel to start trading?

Mel was initially motivated by the potential to make money through cryptocurrency, which he began trading at 18.

How did Mel transition from cryptocurrency to forex trading?

After experiencing losses during a market crash in cryptocurrency, Mel decided to explore forex trading for its more controlled risk.

What resources did Mel use to learn about trading?

Mel utilized resources like Baby Pips and mentorship programs to learn trading strategies, particularly focusing on SMC concepts.

What challenges did Mel face with funded trading accounts?

Mel faced challenges such as over-leveraging and psychological barriers, which led to failures in managing his funded accounts.

What did Mel learn from his initial failures?

He learned the importance of mindset, risk management, and the need to understand the mechanics of trading funded accounts.

Why did Mel choose to focus solely on gold trading?

Mel found that trading gold suited his trading style better, allowing him to develop a more refined strategy and make fewer mistakes.

How did Mel's approach to trading change after joining Instant Funding?

After joining Instant Funding, Mel adopted a broader perspective, focusing on larger market trends rather than getting caught up in short-term fluctuations.

What does Mel consider crucial for success in trading?

Mel emphasizes the need to persist through challenges, continuously learn from mistakes, and not give up despite setbacks.

How does Mel feel about taking breaks from trading?

He believes taking breaks after losing is essential for mental clarity, whereas breaks during winning streaks feel rewarding and reinforce progress.

What advice does Mel give to new traders?

Mel advises new traders to dedicate time to learning, accept that losses are part of the journey, and keep pushing forward to see progress.