"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.