Forex Trading - Talking to $1,000,000 Forex Trader Amir
Traders, welcome back to another interview! Today we've got something very, very special for you indeed - We are talking to our most recent Fund Manager reaching our $1,000,000 level of funding Amir, it's great to have you on the show thank you for coming with us today do you want to give yourself a little bit of a introduction? your trading background and a bit of your history overall - Yeah so, my name is Amir, I'm from Birmingham in the United Kingdom and I've been trading BluFX since 2019 I've been growing my account since December last year to the $1,000,000 account and I've been trading for various different companies before learning how the foreign exchange markets work and I think BluFX has given me that platform to enhance my trading and show that what I can do and obviously progress to the $1,000,000 account It's good to hear, good to hear - that's definitely a good review I mean, what you've done is incredible needless to say, and to access that level of funding is beyond belief in some ways and I feel like - The whole BluFX platform is there to identify traders who are successful, traders that are talented - that's the whole point and we want to give those traders the financial backing the whole product is built so you find traders like yourself and give them an environment where they're the most profitable - I wanted to ask you, how do you think - perhaps, I know most traders will have some experience trading in retail by themselves - how does the BluFX experience compare to trading alone in retail or other companies that you've traded with? I think the most important thing that I've probably seen from this platform was the drawdown that BluFX provides - the 10% drawdown because it gives us like a way of trading we have to take risk - we can't just keep going into the markets hasty thinking that 'we're going to make a thousand on this trade' or whatever, we have to be careful with our risk and there's been times where I've got close to that 10% drawdown in the past and I think - it's changed the way I trade, it's enhanced my personal strategies and that's what probably the most important thing that I think - the risk management sector BluFX have it's just perfect for my trading Sounds good, I mean, do you know I feel like a lot of people when they come onboard they might ask a lot of questions about the BluFX way of doing things especially when it comes to the leverage, the drawdown as you've experienced but when you actually get started and you sort of see what's possible for the BluFX platform - I mean obviously it's been possible for you to grow your account very, very quickly and exponentially from the first initial level of funding to that one million dollar level it's beyond incredible, I can't congratulate you enough all of us here at BluFX effects are singing your praises - it's great to see some of our traders doing really well because that's obviously what we want here at the company I want to ask the next question, is - your trading style in particular, is there a certain way that you trade that you find the most successful? At the moment I'm trading the scalping strategy so I'm in and out of the market very quickly because of the number of the high account I've got at the minute - the Fund Manager account, holding trades and obviously letting them - over a couple of days they might go the opposite direction I'm actually going into negative loss for a while and I don't like seeing my account in having a larger negative loss on that after protecting profits I see - even though it's not my money, it's not my fund that BluFX has provided I see it as my own - you have to - you've got to protect it to grow and yeah I think that's probably the the most - probably the best way I trade at the minute I do trade backbone every now and then if I see a perfect opportunity to enter I've seen a low or I've seen a high that I know that it's going to drop off - the market's capped at that phase then I would enter but other than that daily, I'm in and out of the market I wouldn't - I don't usually hold trades overnight too long that's because I like being aware of my situation and what's happening with news sentimental analysis, technical analysis and yeah, that's probably the best way I've traded Yeah sure, I think it's important sometimes to focus on one thing obviously you found something that works for you I mean talking to you now, I can tell you right away that we trade very, very different ways but in the same way you have great success doing what you do and I've had some great success doing what I do Yeah there are other ways out there but it's just you can't - there's a lot of analysis out there as well that you read and people have their own views but I think you stick to yourself, what you know yourself obviously use other people's views to see where prices are heading or et cetera or stick to your own strategy I think if you get too much noise around it'll complicate your trading Yeah 100% also like, look - we can take somebody, you can write a book tomorrow on your trading style exactly what you do but you are unique to yourself and it's so much more to it than just a profitable strategy in theory, like you can backtest a strategy all you want and you can forward test it on demo all you want and it can be a 100% - you can have a great time doing it and you can have some great results but there's the emotional side of things, the risk management there's all these things that you need to account for and actually that brings me to another question - how do you feel like - how are you managing emotion at that level of funding? Because obviously what you're doing and the level of funding you've got behind you is incredible I think that emotion is probably the most important thing at the minute like I said, I've seen that money of my own and it's - when I'm down - at the moment, I've neutralized myself, so like I try not to think too much about it because obviously the amount of money that you make on a Fund Manager account, it's incredible and with the losses you might have - I see a thousand point loss the same as I was on a $50,000 account so it's the same way if I lost a thousand points the market went the wrong way he same way I could lose $500 to $1000 on an $50,000 I could lose $20,000 grand on a $1,000,000 account, upwards of $20,000 so it's just - potentially seeing it at the same way that as I've traded before if you know what I mean, it's not like - whereas $20,000, you can't see $20,000 as a lot because you have to see in points terms and I think that's the way I've neutralized my emotion because - in a week I would probably catch around about 1500 to 2000 points so if i do lose - That's nut as it, that's crazy stuff Yeah so if I do lose a thousand points, it's something that I know I can make back within two or three days of trading and I don't usually try to rush into the market to make that money that's why you have to stick to your specific strategy and stay patient and don't enter on hasty decision and that's where I feel like a lot of traders go wrong - where they see that - they lose that $1000 or whatever they've got in the account they lose the money in the account and they want to make it as quick as possible back and that's not the same, that's just going to lead to more losses and I've done that in the past, I've seen how that works Yeah sure, I mean feel like - from the emotional side of things you've obviously got that in check obviously you're doing something right I think it's the most important, 100% - Yeah I agree with you, a 1000% one of the most important things is to manage that emotional side of things and - I guess in some ways, it's very easy to say in theory you have to think in % but the money you're making on this account is incredible and the money you've made to this point is incredible but you have to ground yourself and really make sure that you're thinking - It's about grounding - and I think that's probably the best thing I tell other traders about is waiting waiting in the market can be the difference of you making a $1000 to $200 if you can wait and get in at the right, precise point and enter on a low and like say you enter a low, thinking it's low but it goes lower that's something you've done wrong because you haven't analyzed the market but if you enter that right point and wait for the entry, not going hasty just to make your money back or whatever it's crucial, it's key Yeah and I think one definitely important thing to mention on that basis is about trading with the trend as well like I know a lot of people don't do that sort of thing - you're a trend trader right? You trade with the trend? Always - that's my that's my first rule I think when you trade with the trend at least from what - correct me if I'm wrong or what you think of it but when you trade up with the trend you don't have to worry about picking tops and bottoms so much because obviously the overall trend is moving in the direction you're trading so I feel like - yes, obviously you want to optimize entries and obviously optimize those exits - maximize those profits and minimize the losses that you're taking but when you're trading with the trend you only have to focus on the general direction as long as it's on the target with what you're trading You wouldn't want to go against the trend - you wouldn't enter the market against the trend but to maximize profit you'd go on a smaller time frame to look at the patterns that form within that downtrend or uptrend you see so I think that's what I do as well because I don't hold it, I don't like to hold overnight I'll trade the trend throughout the day but I'll take it out at lows and then possibly let it retrace back up to form a pattern and then when I see say the RSI indicator overbought in the short-term charts then I'll carry back down the trend and just to maximize enough profit on that downtrend or uptrend Right you're talking my language now, let's talk a little bit about that, RS - You use indicators in your trading, or? RSI, yeah the RSI RSI, it's one of the most popular ones I mean obviously something's working right for you - I don't use the RSI, I know a lot of people don't like it very much but you've obviously had some good success - I rely on it, it's so important Yeah? I think it's like important - I think with anything - I've tested a lot of indicators and I've put myself in a - I've got some good indicators, I can list them off, I know some good ones but they're only as good as the overall strategy there's not one indicator out there that's going to save you - make your trade 100% better it's like you have to use it in the correct way, sort of thing maybe you understand what I mean - Yeah I get you 100%, I think RSI is just from what I've taught in the past it's something that I've understood and how markets get overbought and oversold and generally the time that RSI tells a lot I feel like yeah - RSI, it's definitely a very popular one and I've been taught a very similar method as you have originally - we spoke about it a bit before the interview like we - the RSI is it's a popular one but like you know what we can talk about this all day mate but whatever you're doing it's just beyond incredible - I don't want to embarrass you too much but like honestly to have you on the show, a Fund Manager at that level of funding and to have - and we spoke as well, you've moved through the stages very quickly I understand? Yeah from December - so I was just on the $50,000 - I was just doing another project onboard while I was on the $50,000 account and just needed the money so i was just withdrawing regularly, regular times when I had the money in my account but december was a point where I thought I'd give it a go and just grow and I think it took me - the first month I went to $100,000 then it took me about a month and a - a month and a couple of days to go to $250,000 and then another month and then - it's just the higher that account went, the quicker I made it as well because the more money you're actually making Yeah sure, I'm with you and actually this is one thing I want to mention is the fact that you obviously when you you've been - How long have you been with BluFX actually? Since 2019 So you've been with us for a little while and you started that growth process in December, right? So the point is - you are a fantastic trader, that's been proven but the point is you have been given the flexibility to - if you need the money you can withdraw if for example, if we had made it so that you had to grow the account it wouldn't have helped you because you needed that money to withdraw but the fact that you'd be able to stick around because of the flexibility of the platform and when you're ready to start growing, look what you've done I think another thing that's that's massive as well is the refinancing product that BluFX gives as well that extra £50 you pay, you've refinanced your losses are covered for and assuming that you can start again at that $50,000 level and I think I've used it once at the very early stages where I was - I wasn't completely down at the 10% but I was just beneath the 10% and I was finding it very, very difficult and I think sometimes you need that little lift just to get you back up there and because like you said earlier, emotion gets very, very difficult in that stage when you're down and you just can't see your profit move up just that refinancing up to the $50,000 it elevates you, it eases you down and then just carry on, full carrying on going forward it's a good way of getting motivated back to building your profit Yeah it's a way for our traders - it's all built into our risk structure and the AI thing we've got going on but it's a way for our traders to get over that fear of losing as well because that definitely helps keep the emotion in check Yeah, 100% When you're down on the account below the starting balance certain emotions can creep up, we're only humans at the end of the day we're emotional beings, but where we can we need to take the emotion out of it so to have that refinancing option there - it seems like something you have made good use of - Yeah, I used it once and it was just incredible because - I was just finding it very difficult to get back up I was on like $46,000 on my account and I just - every time I went to $47,000 to get back down it was just putting me lower and lower and I just used the option and it just paid off ever since then I don't think I've lost so - Yeah - It's just a good thing that's - being with BluFX it's just - the things they have it's just - the platform they have is incredible Yeah we - obviously the platform is built for traders, by traders and the whole point of the platform is to find traders like yourself it's built in a way that attracts the highly profitable long-term consistent traders that's the whole premise of the platform we want to give those traders that financial backing but going back to what you said about the losing psychology when you - of course, you've been trading for a while and you've been trading with BluFX for a while as well - is there - you must have, as much as I have, suffered some losing streaks in the past how do you handle those on an emotional side especially when you're trading the large amounts of capital like you are? I personally, if i've lost - usually I won't lose more than a week's worth of trading so if I lose, I'll take a week off the following week and I always do - I think starting from this year about two weeks where I've lost not consecutive, but two separate weeks and I've just took the week off after just to see that - where I'm going wrong, where I can improve, what analysis I need to do - on Saturday or Sunday, I spend about 5 to 6 hours each day preparing for the week - Right - so you're dedicated to it, that must be 7 days a week, sounds like Yeah, I don't stop, markets don't stop for me, it just continues it's just sleep, eat, trade - that's it - so on Saturday-Sunday I just have to make sure my preps perfect and like I said, the week I have off it's something that I have to reflect on myself - where I've gone wrong I analyze the trade in detail - why I put this position in - what i could have seen - what particular pattern there was in the market - why did it go like that - what news came out formerly - economic numbers of that particular currency - everything - I analyze it in detail and the next week I come back Yeah I mean - I think that is where the Fund Managers are made, right - at the weekend spending that time outside the markets - Yeah, you have to you have to put hours in you're not going to grow if you don't put the hours in - it's just dedication - I've been doing this for a while now and I knew - the trading that I've learned over while I was on the $50,000 account with BluFX - it's just developed my growing, even more, even more, even more and my knowledge has gone better and I feel like now I'm at a stage where - I'm at this level because I deserve to get there in terms of what hours I put in Well exactly and who can deny that? You have achieved something truly, truly great and it's going to inspire a lot of our traders here at BluFX Yeah, I hope it does - you have got to learn from - a lot of people get disheartened, or they can't get the trades right they can't - it's all about practice, learning, application and obviously I recommend the BluFX product because I don't think trading even when people practice trading, on a practice demo account is the same as a live account - Absolutely yeah, it's fundamentally different it gives you insight of what it's actually like, trading like - your emotions change from demo to live you're not actually ready for that leap of emotion when it actually comes to live money - like when I was trading demo, there's no emotion involved because you know that's not your money or it's not real money so - whereas with live, you know - whether it's BluFX's money, you're trading live money BluFX's platform gets you ready for that emotion I think as new traders you should just - even go on the Lite account, the $25,000 account Yeah of course, that's there's a stepping stone for some people that is something that people use in that progression through BluFX but the money's made on the BluFX platform with a Pro account, right You get those growth levels Yeah, it's a good learning process, $25,000 - I've got one friend of mine who's on that $25,000 account and she's learning, she's learning daily so it's not much to pay as well from what it is to the $50,000 but it's something that you're getting valuable experience from the emotion is, I believe, number one thing that influences your trading so it's getting that in check using a live account and I think BluFX helps with that Yeah I think it, I mean of course I'm going to say but - The BluFX thing with the Lite account - is some people trade the Lite account religiously, they're not looking to grow it they just want that regular income and that's fine - the product is there to be flexible - for some people the Lite account is there for learning some people the Lite account is their final destination but that is one of the strengths of the BluFX product is that it's flexible in how you use it - if you start on the Lite account you can move to the Pro and grow your capital or maybe you just want something sustainable each month - get those 5% withdrawals and I think for the money you have to pay for the subscription and actually the capital that you offered for the Lite account is definitely very good value Yeah it's all paid off now - I've got the Fund Manager's account so I don't have to pay subscription - Well talk to me about that a little bit actually - I wanted to ask you because as if a $1,000,000 wasn't it wasn't good enough - there's some other benefits that come with that as well, right - with the territory - Yeah, I don't have to pay the subscription anymore, that's paid off, the monthly I think - this was a major goal for me, getting to this stage then I'm at the level where I can actually say I'm a good trader and keep growing - that's the aim, just keep growing, keep growing - I'm young so I want to build myself This is a skill - this industry is only going to get bigger - the skill that you've got now is totally, totally scalable you're in such a strong position because of the hard work that you put in and nobody can take that away from you 100% Again what am I going to say other than congratulations but obviously with the - $1,000,000 Fund Manager level, you don't have to pay the subscription - you don't have to hit the 5% targets anymore as well Yeah that's - obviously you're making a lot of money, like you catch a 1000 points and make $20,000 and it's a safe way of just keeping your profit safe, out the market and not - because you lose a lot, like I said before, you lose a lot on a $1,000,000 account it's a good way of, I think - I will probably, personally - if I hit my weekly targets I would withdraw every week, just to keep my profit safe I aim for 10% a month but obviously you never know you don't look at the big - you just keep your trading - keep sticking to your strategy I mean 10% a month, if you can hit that consistently on any level of funding at BluFX, you'll be a Fund Manager in no time Yeah, 100% And you have you proved that to everybody here - if you put the work in - no one's done this for you, you've come and joined the platform you've been supported, but fundamentally you put the hard work in and look what you've achieved Yeah that's it, just keep growing it, keep growing it Now, a bit of a question off the cuff - how have you been celebrating? you must celebrating a little bit surely? Yeah - I bought a new car! You bought a new car? Yeah - I bought a new car! Are you going to tell us what it is? Audi RS3 Oh wow, ok That's something quite special That's just a start I'm sure That's just a start, that's a start but I think I deserved a treat for all the work I've put in I think you did, I think you did Yeah so - but at the minute, like I said, this $1,000,000 account - another six months to a year, just going to keep growing it, keep growing it and possibly open some other projects into this trading world Right, the sky's the limit and obviously you've got the knack for it you're obviously very skilled at what you do so best of luck to you with the trading, best of luck to you with whatever you do - last question before we go and wrap things up - one piece of advice you would give a BluFX trader who wants to reach that Fund Manager level? I think being patient is key not rushing into hasty decisions in the markets I think - take your time, don't listen to anyone in terms of telling you any positions that they think - your own analysis I think is best I know a lot of people that have listened to people and they've lost a lot of money off it but it's just, I think waiting for the - waiting and being patient are key moments, stick to your guns and what you think you know and I think as well is risk management if you can master risk management and possibly = keep your profit factor and your loss factor at a level where you feel like it's suitable analyze your own trading at times on Saturdays and Sundays analyze your own trading in terms of looking at what's your win ratio - for every win how many do you lose? and look at limiting that because that's what's going to grow you - learning from your mistakes, you're always going to make mistakes in trading it's a market at the end of the day, you're not going to get every decision right I don't know any trader that's never lost, that's never took a loss Nor me, it doesn't exist It doesn't exist so you have to lose to win so it's just something that you have to keep growing at, keep practicing never give up on it - there's times I've lost a lot as well, I've be the previous companies and it's just been terrible for me but keep going, keep going never stop I'm 22 it took me - for where I'm at I've started trading at 17 Right, about the same as me actually Yeah 17 I started I think, 18 opened my first company and I just never gave up, I went through some hard times but I never gave up, kept going it's full-time for me now, trading, I'm studying as well but this is my full-time it's something I'm looking to go into but again - practice that's just key, application Honestly, congratulations from all the BluFX team - I cannot say congratulations enough, what you've done is incredible I know people who are watching this now are going to be inspired by your story I think one key takeaway from this is about a reflection and determination never giving up, putting the hard work in and you see what's possible - Amir, thank you so much for joining me, it's a pleasure to talk to you and best of luck with everything in the future Thank you very much
2021-04-25 06:05
