"I Just Won a $100k Account" - Bilal, Matthew & David Interview

Summary

In the Alpha Capital Summer Extravaganza at Casino Royale, David interviews Trader Matthew, who shares his positive experience at the event, emphasizing its educational value and exposure to diverse trading models and mindsets. Matthew, a Forex Factory user and economics graduate, discusses the importance of macroeconomics in trading, his journey from beginner to a strategy-backed trader, and the value of networking. He advises new traders to secure a job and be patient, risking only 2% per trade. With a goal to build a hedge fund, Matthew stresses the importance of consistency, averaging 5-10% monthly returns, and plans to trade conservatively once he secures a funded account.

Takeaways

• 😀 The event was an 'Alpha Capital Summer Extravaganza' themed Casino Royale.
• 🎓 David, who has a background in economics, found the event educational, particularly regarding different trading models and mindsets.
• 🗣️ Matthew, another attendee, appreciated the variety of speakers and the macroeconomic insights they provided.
• 🌐 Matthew is a regular user of Forex Factory and has a basic understanding of macroeconomics from his university studies.
• 💼 The number one tip for traders from the event was to have a job initially, as making money from trading takes time.
• 📈 Matthew emphasized the importance of taking time to understand trading strategies and models before going live.
• 🚀 Matthew's journey in trading has been rocky, starting with basic support and resistance techniques and evolving through education and experience.
• 🤝 Alpha Capital is appreciated for its approachable CEOs and welcoming environment, which contrasts with other firms.
• 💡 Networking and finding a group were highlighted as crucial for progress in trading.
• 💰 Matthew risks 2% per trade, which is considered a high risk by prop firm standards, but he believes it's necessary for rapid progression.
• 🏆 Matthew's ultimate goal is to build his own hedge fund, which he believes is achievable through consistent performance.

Q & A

What is the name of the event being discussed in the script?

The event being discussed is the 'Alpha Capital Summer Extravaganza', specifically the 'Casino Royale' event.

How does David describe his experience at the event?

David describes his experience as 'very good' and 'educational', appreciating the variety of trading models and mindsets shared by different people.

What did David find particularly enlightening about the event?

David found the macro element discussed by the speakers, especially Joe, to be an eye-opener, helping him understand the importance of macroeconomic factors in trading.

What is David's background in relation to trading and economics?

David has studied economics at university and is a user of Forex Factory, indicating a background in both trading and economics.

What advice does David give to new traders regarding making money from trading?

David advises new traders to get a job since they are unlikely to make money for about 2 years, and to take their time to understand and apply trading strategies.

How long has David been trading and what has his journey been like?

David has been trading for five to six years. His journey has been rocky, starting with learning support and resistance, and going through a phase of education and instability during university.

What does David appreciate about Alpha Capital?

David appreciates the accessibility and approachability of Alpha Capital's CEOs, contrasting it with other firms where he didn't even know what the CEOs looked like.

What are the two key factors David identifies as helping him progress in his trading journey?

David identifies finding a group and networking with people who know more than him as the two key factors that helped him progress.

What is David's risk per trade and how does it differ between his personal account and the funded account?

David risks 2% per trade on his personal account, but on a funded account of 200k, he risks 0.5% per trade, which is 1K per trade.

What is David's long-term goal in trading?

David's long-term goal is to potentially build his own hedge fund in the future.

How does David define consistency in the context of trading?

In the context of trading, David defines consistency as achieving a steady monthly return, such as 2% to 5%, which he believes is key to reaching his goal of building a hedge fund.

Outlines

00:00

🎰 Casino Royale Event Experience

The speaker welcomes the audience to the Alpha Capital Summer Extravaganza, the Casino Royale event, and introduces David, who is attending the event. David shares his positive experience, highlighting the educational aspect of the event, where he learned from various trading models and mindsets. He particularly enjoyed the macroeconomic insights from a speaker named Joe, which helped him understand the importance of macroeconomic factors in trading. David, who has a background in economics, admits that applying this knowledge to trading is something he is still working on. He offers advice to traders, suggesting they should have a job initially as trading income may not be immediate. He emphasizes the importance of taking time to understand trading strategies and not rushing into live trading without proper preparation.

Keywords

💡Alpha Capital

Alpha Capital appears to be the name of the organization hosting the 'Casino Royale event' mentioned in the transcript. It is likely a financial or trading firm that organizes events for traders and investors. The keyword is significant as it sets the context for the event being discussed, indicating a focus on trading and possibly investment strategies. The script mentions how attendees can interact directly with the CEOs of Alpha Capital, highlighting the accessibility and approachability of the organization's leadership.

💡Casino Royale event

The 'Casino Royale event' is a themed event organized by Alpha Capital, as indicated in the transcript. It seems to be a gathering for traders and possibly investors, where they can network, learn, and engage in discussions about trading strategies. The name 'Casino Royale' suggests a high-stakes, sophisticated atmosphere, which is fitting for a financial event focused on trading and investment.

💡Trading

Trading is a core concept in the transcript, referring to the act of buying and selling financial instruments such as stocks, currencies, or commodities with the goal of making a profit. The video's theme revolves around trading, as evidenced by the discussions on trading strategies, mindsets, and the experiences of the interviewee, Matthew, who has been trading for several years and is now ready to 'take on those funded accounts'.

💡Macro element

The 'macro element' in trading refers to large-scale economic factors and trends that can influence financial markets. In the transcript, Matthew mentions that he enjoyed the macroeconomic insights provided by a speaker, Joe, which helped him understand the importance of macroeconomic factors in trading. This indicates that the event covered a broad range of topics, including how global economic trends can impact trading decisions.

💡Risk management

Risk management is a critical aspect of trading discussed in the transcript. Matthew talks about risking 2% per trade and the importance of being conservative with risk, especially when trading with a funded account. This shows that the video emphasizes the need for careful planning and control of potential losses in trading, which is essential for long-term success and capital preservation.

💡Phase one

In the context of the transcript, 'phase one' likely refers to an initial stage or milestone in a trading program or challenge, possibly associated with Alpha Capital. Matthew mentions passing 'phase one' in a month by risking 2% per trade, suggesting that it is a significant achievement in a trader's journey, likely tied to proving one's trading abilities or strategy before moving on to more substantial capital or challenges.

💡Funded account

A 'funded account' in trading typically refers to an account that is provided with capital by a financial institution or firm, allowing the trader to trade with more significant sums than their own capital. In the transcript, Matthew discusses his goal of accessing a funded account with a capital of 200k and trading conservatively with it, indicating a progression in his trading career and the potential for higher returns.

💡Consistency

Consistency is highlighted as a key to success in trading within the transcript. Matthew mentions that his goal is to build a hedge fund and that achieving this will require consistent performance, even if it's just 2% a month. This underscores the importance of reliable, steady returns over time, rather than sporadic high gains, which is a common theme in discussions about long-term trading success.

💡Hedge fund

A hedge fund is an investment vehicle that pools capital from accredited individuals or institutional investors and invests in a variety of assets, often using complex strategies. Matthew's goal to build his own hedge fund illustrates the ambition and long-term vision of a trader, aiming to manage large sums of capital and employ sophisticated investment strategies.

💡Backtesting

Backtesting is the process of evaluating the performance of a trading strategy by applying it to historical data. In the transcript, Matthew mentions that he has backtested his strategy quite a bit, which is a common practice among traders to validate their strategies before implementing them in live trading. This shows that Matthew has taken a systematic approach to developing his trading approach.

Highlights

Welcome to the Alpha Capital summer event, Casino Royale.

David and Matthew discuss the educational aspects of the event.

Matthew finds the event exciting and appreciates the variety of trading models and mindsets.

Speakers like Joe are praised for their macroeconomic insights.

Matthew's background in economics and his use of Forex Factory are mentioned.

Matthew emphasizes the importance of applying macroeconomics to trading.

His top tip for traders is to have a job while they learn to trade.

Matthew advises taking time to understand trading strategies before going live.

He shares his personal trading journey, starting with support and resistance.

Matthew's first trading account was a small £80, which he lost.

After university, Matthew developed a back-tested strategy and is ready for funded accounts.

He appreciates the accessibility and welcoming nature of Alpha Capital's CEOs.

Matthew's advice is to find a group and network with knowledgeable people.

He discusses his risk per trade, which is 2% for personal trading.

For funded accounts, Matthew risks 0.5% per trade.

Matthew's goal is to build his own hedge fund in the future.

He believes consistency is key to achieving his goal as a trader.

Matthew's average monthly return is 5-10%, sometimes reaching 20%.

The event concludes with a call to action for viewers to subscribe and like the video.

Transcripts

welcome everyone back to the alpha

Capital summer extravaganza the Casino

Royale event and we are joined by one

and only bow in attendance today we are

here with David with Trader C Matthew

how you doing man I'm good thank you how

are you I'm good thank you well how did

you find the event it was fun exciting

oh yeah it's been very good yeah what

did you enjoy about it oh it was very

educational like different people's you

know models and different people's ways

of trading and their mindsets is really

intriguing event has been excellent man

it's been it's been a real eye opener

we've had some great speakers a good

like variety of of speakers yourself Riz

um Joe Joe especially I really enjoyed

the macro element and it made me really

understand like the the differences and

like yeah the macro importance in in

have you ever sort of used macros before

yeah you know I'm I'm a I'm a good Forex

Factory user you know every time there's

there's red us I know it um but I to be

fair I've studied economics in uni so I

I've understood like a bit but the

application is something that I'm

definitely working on so that was like

an eye opener on how to actually apply

it to our trading what would you say

your number one tip for Traders would be

get a job you ain't going to make money

for like 2

years and then when you do then you can

replace for 9 to 5 with trading yeah but

until then you need a job um take your

time like all I say is just take your

time cuz a lot of people think you know

oh yeah I can easily make 10K or 5K but

in all realness it's all about your your

strategy or whatever model whatever you

want to call it like if you fully

understand how to trade then take your

time even take your time of phase one

phase two because once you're live and

you know a simple 0.5% risk potentially

I don't know uh get 10% buffer and start

risking 1% easy you consistently bring

in income and you're not necessarily

going to be cuz if you let's say for

example right if you're Rising 0.5% to

blow your account fully you need to you

need to lose 20 trades if you're losing

20 trades in a row I don't know about

your model in it what would you say how

long you been trading for so I've been

trading for like five six years I

started like a year 10 yeah really yeah

wow what's that Journey been like for

you it's been it's been Rocky I can't

even lie it's been really Rocky um I

started where we all start support

resistance you know cuz one of my

friends was in uh multi-level marketing

so I saw the trade inside and I was like

o what's that so I wanted to teach

myself went on YouTube um I did that

blew my first account happy to say you

know it was £80 um all the way back then

and to me that was the world um but yeah

after that I went through school I

couldn't I've never really focused on it

properly and then uni as well was really

shaky but now I finished uni and I've

got a strategy that I back tested quite

a bit I'm ready to really take on those

funded accounts what what do you like

about Alpha Capital oh um I love how we

could just literally talk to the CEOs

literally because you know I've been

with other firms right and ien I don't

even know what they look like whereas

Alpha I can literally see them speak to

them shake hands with them yeah it's

very they're very welcoming as well very

like yeah passionate about what they do

so I really respect so far in your

journey what's one thing that really

stuck out to you that helped you to

progress um two things finding a group

and networking with people who know more

than you um I think it's it's really

important to ask for help especially in

like technological day and age it's a

lot easier to get to get to that 100K

payouts in like sum of payouts or or

even part a challenge because there's a

wealth of knowledge with a lot of other

people so just being like open and and

humble and approaching people and being

like cool I actually need help what's

your advice on this area and then

applying it as well how how much do you

risk per trade I risk 2% per trade

really yeah I don't see the point of you

see like that guy in the ballroom it

took six months to pass phase one I

don't see the point of wasting that much

time I risk 2% and I I passed phase one

in a month or I don't and my Edge shows

that I do pass in a month cuz I average

like 5 to 10% a month on average

sometimes we get like 20% but that's not

average and then yeah so I think for

prop firms 2% risk per trade is a lot

better but on personal obviously it's

different do you do 2% on the funded bit

as well no no no on the funded uh

on a 200k I'm risking 1K so 0.5% yeah so

yeah cuz the goal is to get the funded

account access to that 200k Capital yeah

and then trade conservatively what

what's your goal with trading what is it

that you want to achieve as a Trader oh

that's a good question um my goal is to

potentially build my own hedge fund in

the future yeah yeah that's that's my

goal what's it going to take to get

there I'll just say consistency cuz one

thing like I heard even today at the

event 2% consistently a month

like even I'm pretty sure hedge fund

people literally do that monthly and me

personally I average like 4% 5%

sometimes 10 sometimes higher but yeah

like just the consistency approach

within you know the trading side of

things yeah that's that's I think that's

the only thing I need to do to get there

yeah I love yeah thank you Matthew thank

for joining us hopefully see you at the

next event as well everyone at home hit

subscribe hit like there will be other

videos from the event on screen and

until next time take care