This Student Made $62,500 in 3 Months Trading Forex

Summary

In this podcast, Aaron shares his five-year trading journey, highlighting the transformation he experienced after joining the '100 to a Mill' boot camp. Balancing a cannabis business in Vegas with trading, he emphasizes discipline, structure validation, and proper stop-loss placement as keys to consistent success. Aaron details his strategy, including counter-trend trades, risk management, and the importance of treating trading like a business. He recounts notable wins, lessons from losses, and the lifestyle improvements trading has enabled, underscoring the value of persistence, repetition, and patience in mastering the craft. His journey embodies the grind and rewards of focused effort.

Takeaways

• 😀 Aaron’s trading journey spans 5 years, evolving from inconsistent results to consistent profitability through structured learning.
• 😀 The 100 to a Mill boot camp was a turning point, teaching him intraday techniques, market structure validation, and proper stop-loss placement.
• 😀 Understanding higher lows, lower highs, and validating structures using the 'snake trick' simplified trading and improved results.
• 😀 Stop-loss strategy is crucial: Aaron uses structure-based stops plus a 25-pip buffer, preventing unnecessary losses from market wicks.
• 😀 Running a cannabis business reinforced the importance of discipline, treating trading as a business, and maintaining focus.
• 😀 Continuous learning and repetition are key; Aaron re-watches videos and takes extensive notes to internalize strategies.
• 😀 Counter-trend trades can be profitable when anticipating retracements, but require careful consideration of structure and risk-reward.
• 😀 Managing risk and gradually scaling accounts is more sustainable than chasing large, aggressive gains.
• 😀 Losses are normalized as part of the trading process; quick recovery and consistency are more important than perfection.
• 😀 Trading success allowed Aaron to achieve financial freedom, improve lifestyle, and enjoy experiences while maintaining a business.
• 😀 Key advice for traders: focus on one strategy, treat trading like a business, put in consistent work, and maintain patience and discipline.

Q & A

Why does Aaron rewatch his trading videos daily?

Aaron replays his trading videos regularly, as he believes that every time he watches them, he picks up something new that he missed previously. This constant review helps reinforce his learning and improves his trading strategy.

What is Aaron’s approach to taking notes while watching the trading videos?

Aaron takes extensive notes on his iPad and in notebooks, even writing the same things multiple times. He emphasizes that continuous repetition of concepts is essential until they become second nature.

How does Aaron handle the emotional impact of a losing trade?

Aaron views losing trades as part of the process. Initially, he was frustrated, but now he brushes off losses and focuses on the next trade, acknowledging that losses are inevitable in trading.

What was Aaron’s most memorable trade and why?

Aaron’s most memorable trade was a 190-pip win on the GU pair, which he hit in just an hour and a half. This trade made him realize that his strategy was working and that trading could indeed be profitable.

Why does Aaron add a 25-pip buffer to his stop-loss?

Aaron adds a 25-pip buffer to his stop-loss to avoid being 'wicked out' of trades. He found that by doing this, he significantly reduced the risk of being prematurely stopped out, improving his overall trading success.

How does Aaron feel about fixed stop-loss strategies?

Aaron doesn’t understand fixed stop-loss strategies, as he believes they ignore market structure. He prefers stop-losses based on structure, as this approach aligns with the market’s natural movements.

How does Aaron treat trading as a business?

Aaron treats trading as a business by logging his trades, analyzing charts in-depth, and dedicating time to market research. He compares it to running a company, where you track profits and losses and put in the work to achieve consistent success.

What was the rule that Aaron found problematic in his prop firm account?

The rule Aaron found problematic was that if he took the same pair back-to-back, he could only exceed a 2% drawdown, even though he didn't breach the 5% daily drawdown limit. This rule led to his account being closed just before payout.

What is Aaron’s advice to traders who are busy with other commitments?

Aaron advises traders with busy schedules to treat trading like a business, emphasizing that success requires time, discipline, and detailed attention. He stresses the importance of logging trades, preparing charts, and staying committed.

What analogy does Aaron use to describe the importance of consistency in trading?

Aaron uses the analogy of Picasso, stating that the famous artist didn’t paint the Mona Lisa overnight. He emphasizes that mastery in trading, like any skill, takes time and consistent effort to achieve.