ICT YT - 2023-03-11 - Real Money Real People - ICT Student Paladin
Last modified by Drunk Monkey on 2023-03-16 11:38
Outline
00:01 - Introducing himself and how he got into trading.
03:15 - How long did you study before you started seeing results that were motivational to keep going?
07:01 - How to analyze charts on your own -.
11:32 - How to limit greed and impatience by setting rules.
15:16 - The importance of journaling and consistency in your trading.
18:27 - How do you deal with losing trades?
22:03 - What would you say to other students that are learning what you share on your YouTube channel? What would you encourage them to do?
25:40 - What’s a typical day like for you trading?
29:55 - How has being so profitable changed his personality?
Transcription
| 1 | 00:00:01,500 --> 00:00:13,080 | ICT: The following testimony is not typical. Your results may be greatly different from this. Dr. How are you? |
| 2 | 00:00:14,280 --> 00:00:16,500 | Paladin: I'm doing good. How are you ICT doing? Well? |
| 3 | 00:00:16,530 --> 00:00:25,260 | ICT: Very pleased to meet you, sir. You as well. So if you could introduce yourself, let us know who you are, where you came from your age and all that. |
| 4 | 00:00:26,610 --> 00:00:39,180 | Paladin: Yeah, so basically I go by Paladin, I'm currently 21 years old. I am from New York City, Queens. And basically, in 2022, I was able to finally become |
| 5 | 00:00:39,210 --> 00:00:48,720 | a six figure day trader after four years of trading, and I've withdrawn $250,000 With the help of Prop firms. So that's basically a summary of who I am. |
| 6 | 00:00:51,270 --> 00:00:58,560 | ICT: So how did you get started? In trading? What? Who got you involved in who introduced you to the idea of trading? What asset class did you start with? |
| 7 | 00:00:59,250 --> 00:01:08,310 | Paladin: Yeah, so I started with IML. So back in high school, when I was 17, I'm always a big thing where they're recruiting other people to learn how to trade. |
| 8 | 00:01:08,910 --> 00:01:17,970 | And back then I want, money was always a big thing growing up, because I come from a low income family. So I always wanted to make money because my parents |
| 9 | 00:01:17,970 --> 00:01:27,630 | didn't really give me money. So IMO presented me with this opportunity, I joined IML, I went, this was in 2019, I went through all the educators and I kept |
| 10 | 00:01:27,630 --> 00:01:37,440 | flipping strategy after strategy. And then finally, in 2020, after eight different strategies on my last i At that point, I lost a lot of money. And I |
| 11 | 00:01:37,440 --> 00:01:45,510 | was like, Okay, this is the last strategy I'm gonna learn, which, which, thankfully, it was your strategy. And it made complete sense, because all these |
| 12 | 00:01:45,510 --> 00:01:52,890 | prior strategies, they were all like, Okay, if like, for example, and indicator, if these lines crossed with each other, then you buy here, but it never |
| 13 | 00:01:52,890 --> 00:01:59,730 | explained, like, why are you buying it? And then when I found your strategy, you're explaining the context behind it. And I'm like, Wow, this strategy |
| 14 | 00:01:59,730 --> 00:02:03,960 | differs from everyone else. And that's how I found you found out about you. |
| 15 | 00:02:04,530 --> 00:02:17,040 | ICT: Okay. So, how did you specifically find my work or ICT itself? Like, was it just a YouTube Google Search someone else? Typically, and said, Hey, look, this |
| 16 | 00:02:17,040 --> 00:02:26,730 | is what I'm doing. Or if it's a matter of learning something that's similar to mine, and then finding it was actually this? |
| 17 | 00:02:27,900 --> 00:02:35,580 | Paladin: Yes, I was in a bunch of forex group chats. And then someone sent a YouTube video called institutional trading. And at that point, I kept like, I |
| 18 | 00:02:35,580 --> 00:02:43,710 | did an amateur mistake where I just kept switching strategies out the strategy. And then I saw institutional trading, which was by Levi, who was my first person |
| 19 | 00:02:43,710 --> 00:02:52,020 | who got me into your concepts. And then I watched that video, I'm like, Oh, wow, that makes I like this strategy. It really like, like I said, it gives context |
| 20 | 00:02:52,020 --> 00:03:00,900 | behind why price is doing this. And this was in 2020, when I found you, when I found out about I found out later on throughout the course that he learned from |
| 21 | 00:03:00,900 --> 00:03:12,750 | you. And then I did more research on Okay, who is ICT and then that's when I found out found your course, your 2021 course pacifically. And that's when I and |
| 22 | 00:03:12,750 --> 00:03:22,770 | I also was with after I finished the vice course. I went on to another trader, a six figure day trader who uses your concepts, his name is Jean. So I was using I |
| 23 | 00:03:22,770 --> 00:03:32,340 | was in his mentorship while he under your 2021 mentorship, so I was watching him trade live. And I was also looking at your all your videos on YouTube as well, |
| 24 | 00:03:32,340 --> 00:03:42,570 | that helped a lot. And then in 2021, you also had, every month you will post your charts on that mentorship and in the forum, and that helped a lot with my |
| 25 | 00:03:42,840 --> 00:03:46,620 | trading with just improving in my in with your concepts. |
| 26 | 00:03:47,160 --> 00:03:59,760 | ICT: So you are actually in enrollment in my private mentorship for for the entirety or for a small portion of time for the entirety. Okay, so how long did |
| 27 | 00:03:59,760 --> 00:04:04,020 | you study before you started seeing results that were motivational to you to keep going? |
| 28 | 00:04:05,310 --> 00:04:14,580 | Paladin: Yeah, so it was very hard. In the beginning, it took me a while to actually be profitable in this industry. There are so many times where I should |
| 29 | 00:04:14,580 --> 00:04:24,480 | have quit, but it was just like my why was so strong. And I also just don't quit easily like that. So before I reached profitability was it took me so like my |
| 30 | 00:04:24,480 --> 00:04:31,890 | first year, I was down a couple of hundreds of dollars. And then my second year, I was down a couple of 1000s of dollars. My third year at this point, I was down |
| 31 | 00:04:31,890 --> 00:04:42,270 | like 10 $20,000. And at this point, like, like I was at rock bottom many times but the fact is like I spent so much money on this, I've devoted so much time |
| 32 | 00:04:42,450 --> 00:04:51,690 | into trading and like I just couldn't quit. And then at that point where and then a couple months later, my fourth year that's when I just it just clicked |
| 33 | 00:04:51,690 --> 00:04:55,920 | and I just started reaching profitability. And yeah, it just came out of nowhere. |
| 34 | 00:04:56,490 --> 00:05:01,140 | ICT: Awesome. That's awesome. So what markets and what time They do specialize in. |
| 35 | 00:05:02,310 --> 00:05:14,010 | Paladin: Yeah. So back then in your 2021 course, I think you mainly primarily focused on forex or currencies. So I stuck with EU Gu DX y AU, just because |
| 36 | 00:05:14,010 --> 00:05:22,950 | like, just because I know us transition to indices a little bit more focus on CS now. But I've done well with just the forex pairs with those three pairs. So |
| 37 | 00:05:23,130 --> 00:05:30,060 | it's like, if I'm doing well with those pairs, I don't really want to add something else, it might mess up my flow in any case. So I've just stuck with |
| 38 | 00:05:30,060 --> 00:05:33,870 | those three pairs for now, just because I've been doing good with those pairs. |
| 39 | 00:05:34,800 --> 00:05:41,610 | ICT: Did you ever venture away from those that dabble in other specific pairs? Or you were always predominantly stuck to just those? |
| 40 | 00:05:42,450 --> 00:05:51,060 | Paladin: Yeah. So when I first joined IML, 2019, there was a lot of crypto trading, I tried that. And I remember I was like, the minimum loss is 0.01. And |
| 41 | 00:05:51,060 --> 00:05:57,600 | then I blew my family dollar account. And I'm like that traumatize me because that's a lot. And when you're in high school, I'm like, How did I blow this |
| 42 | 00:05:57,600 --> 00:06:05,580 | account? I think it was news or something. At that point, I never touch crypto again, just because it was crazy how 0.01 lot size and I blew the entire |
| 43 | 00:06:05,580 --> 00:06:14,100 | account. So I never touched crypto after that. And then indices i tried indices. But the fact that sometimes I feel like personally for me is like when I have |
| 44 | 00:06:14,100 --> 00:06:22,620 | too many pairs. Sometimes I just miss very clean setups on like EUR Gu because I'm focused on these other pairs, or that if I trade too much, I get mentally |
| 45 | 00:06:22,620 --> 00:06:29,310 | tired. And then I start to do dumb things. So I just like to keep it very simple. I just like to keep with those three pairs when a clean set of forms. I |
| 46 | 00:06:29,310 --> 00:06:32,580 | execute on that. No Clean setup, I just continue on my day. |
| 47 | 00:06:33,150 --> 00:06:43,080 | ICT: Awesome. So obviously, you're aware that I've always maintained and taught through a median of a demo trading account or a paper trading account? In your |
| 48 | 00:06:43,080 --> 00:06:49,860 | learning and your own development? Was it ever an impediment on your development? Or did it hold you back feel like you weren't learning how to read |
| 49 | 00:06:49,860 --> 00:06:53,340 | price action or to Now eventually learn how to trade specifically with live funds? |
| 50 | 00:06:54,270 --> 00:07:04,020 | Paladin: Yeah, so like, I've spent 1000s of hours watching your courses I've, I've like, from I'm back in 2020. When I had like the six month I took a gap |
| 51 | 00:07:04,020 --> 00:07:12,240 | phone college, I spent six months in India, where my parents are. And at that point, from the moment like my eyes open to the close, I was watching the |
| 52 | 00:07:12,240 --> 00:07:21,780 | charts, analyzing the charts, just spending 1000s of hours on your course YouTube videos, or these other educators will tell you concepts. And at that |
| 53 | 00:07:21,780 --> 00:07:30,630 | point, and 2021 mentorship, like I said, when you put those charts, I think now you're doing live trading with indices, and you're showing your students how, |
| 54 | 00:07:31,320 --> 00:07:37,650 | like, what are you? What are you seeing at the moment. And that really helped me because I knew all the strategy, I knew all the concepts. But at this point, I |
| 55 | 00:07:37,650 --> 00:07:45,720 | want to see how to do it like how do you analyze it at that like live trading like that day to day? So like, it's a new day today? And what are you seeing |
| 56 | 00:07:45,720 --> 00:07:53,700 | that I want to compare if I see the same thing, and then 2021 That's why I was in mentorship primarily just to see how you analyze your charts. And that really |
| 57 | 00:07:53,700 --> 00:08:00,240 | helped me as well. Not only just the videos, but just seeing how you analyze and thinking just looking at charts thinking, okay, he's looking at that level. And |
| 58 | 00:08:00,240 --> 00:08:09,060 | after a while, it's like subconsciously, it just came into my mind. And that was when in 2022, I decided that I've had 1000s of hours of your course, I've been |
| 59 | 00:08:09,090 --> 00:08:15,930 | watching your videos, I've seen you trade live, I've seen you analyze charts, there were many times when I would analyze charts, and I would check on the |
| 60 | 00:08:15,930 --> 00:08:24,210 | Charter, the mentorship and see that we basically have most of the times basically the same analysis. So then in 2022, I decided, okay, I want to try |
| 61 | 00:08:24,210 --> 00:08:32,700 | this on my own, I stopped looking at other people. So I just focused on myself I never looked at because at that point, like, it's time to like that you can help |
| 62 | 00:08:32,700 --> 00:08:39,240 | me like when you knew like if say for example, analogies, like if you're a baby new to this game, and you're like the father you're walking, you're walking, |
| 63 | 00:08:39,240 --> 00:08:47,250 | holding our hands all the way to like we're up to the age at age 18. But once you stop looking at the vase, once we stopped getting your help and actually |
| 64 | 00:08:47,280 --> 00:08:54,240 | experienced, like, try to do it on our own. That's where we grow the most. From my experience. That's where I grew, the more so when I stopped when I knew that |
| 65 | 00:08:54,240 --> 00:09:01,860 | I'm done with I already I know everything I know how to do strategy, it's time to it's time to do it on my own. That's where I grew a lot. So, but that was |
| 66 | 00:09:01,860 --> 00:09:04,350 | only after watching the videos for a while. |
| 67 | 00:09:05,370 --> 00:09:17,910 | ICT: But specifically did your profitability. Was it hindered? In other words, by me teaching without showing a Live account, showing broker statements showing |
| 68 | 00:09:17,910 --> 00:09:30,240 | anything like? Well, you know, you knew my mentorship was how it was and it's just like it is now on YouTube. I teach through a medium that is not live funds, |
| 69 | 00:09:30,420 --> 00:09:40,530 | but because I'm teaching price action. Was there any hindrance in you learning how to do this? Because I talked with that approach versus here's how I'm doing |
| 70 | 00:09:40,530 --> 00:09:49,500 | with a live account. And then compare and contrast. Was there any difference between your learning if it would have been done with a live account by me |
| 71 | 00:09:49,500 --> 00:09:52,260 | teaching it or just teaching the price action the way I've done it? |
| 72 | 00:09:53,580 --> 00:10:03,540 | Paladin: I'm just just the way you just just the way you it didn't really matter if it was Mr. Live because I was still learning how you look at price action, |
| 73 | 00:10:03,750 --> 00:10:12,240 | there's no really that big of a difference. And yeah, just by you uploading the charts and showing how you analyze it, and also seeing like the accuracy like of |
| 74 | 00:10:12,240 --> 00:10:20,400 | it actually like filling in these fair value gaps that you mentioned, looking at the support areas where it does get respected. That's what helped me not what it |
| 75 | 00:10:20,400 --> 00:10:22,110 | will do a treating library or a demo. |
| 76 | 00:10:22,380 --> 00:10:28,350 | ICT: That's good. What struggles Did you wrestle with while finding your unique personal model? |
| 77 | 00:10:30,180 --> 00:10:42,750 | Paladin: Um, a lot of it took me a while to find my model like, so once I stopped watching everyone else after I had 1000s of hours of education. It took |
| 78 | 00:10:42,750 --> 00:10:50,610 | me a while I had to journal. I went through losing streaks, a lot of a lot of people, if they were just like, stop watching the videos after they've gone |
| 79 | 00:10:50,610 --> 00:10:57,300 | through everything, they might face a losing streak, and then they'll be like, Okay, I need to go back to watching ICT videos. But the fact that losing streaks |
| 80 | 00:10:57,300 --> 00:11:05,940 | are every trader faces a losing streak, you just have to persevere through it. And that's where you gain the most. So after my losing streak, I would have |
| 81 | 00:11:05,940 --> 00:11:09,690 | winning streaks as well. So those questions are, |
| 82 | 00:11:10,680 --> 00:11:22,110 | ICT: what struggles did you go through? Like, was it hard for you to pick a PD array? Was it hard for you to decide on a specific style? Or was there a |
| 83 | 00:11:22,140 --> 00:11:30,960 | character flaw that all of us as humans have? Was there something that you had to struggle specifically with like maybe impatience, impulsiveness, something to |
| 84 | 00:11:30,960 --> 00:11:31,560 | that effect? |
| 85 | 00:11:32,040 --> 00:11:41,190 | Paladin: Yeah, so definitely greed and impatience. But through my experience, I found ways to limit that greed and impatience by setting by setting rules. So |
| 86 | 00:11:41,190 --> 00:11:49,470 | for example, I've noticed in my trading that when I have maybe two wins in a day, I get overconfident. And then I see a setup there might not really be |
| 87 | 00:11:49,470 --> 00:11:56,700 | clean. But since I'm so confident my last two trades had TP I'm up a lot of money, let me just take this trade as well. And then I will just end up losing |
| 88 | 00:11:56,700 --> 00:12:03,870 | my entire profits, or then I get emotional or might even end up in drawdown for the light at the end at the end of the day. So that's when I set a maximum two |
| 89 | 00:12:03,870 --> 00:12:12,510 | wins a day and I'm done. I quit my laptop, I don't care if the next trade setup is 99% accurate trade. And then same with revenge trading, when I take two |
| 90 | 00:12:12,510 --> 00:12:21,510 | losses, outing, dammit, I would start like risking more to get back to draw to get back to break even. And I will end up losing my out and losing a big chunk |
| 91 | 00:12:21,510 --> 00:12:31,620 | of my account or even my entire account. So that's what I said, Okay, if I lose two trades in a row, I'm down my laptop as well. So to my experience, those by |
| 92 | 00:12:31,740 --> 00:12:40,230 | the my experience, I found my weaknesses. And I've tried to limit those weaknesses and provide on those weaknesses to not really affect my trading as |
| 93 | 00:12:40,230 --> 00:12:42,210 | much. So yeah, |
| 94 | 00:12:42,510 --> 00:12:52,110 | ICT: awesome. major milestones, did you feel that you've reached through your trading and brought your level of consistency or clarity in price action? What |
| 95 | 00:12:52,110 --> 00:12:56,580 | milestones stand out. Up to this point, your development has monumental? |
| 96 | 00:12:58,560 --> 00:13:07,290 | Paladin: Oh, yes. So for sure. Um, so my first point you keep wanting to count with FTM Oh, that was a major milestone, because I'm just like, wow, I have the |
| 97 | 00:13:07,290 --> 00:13:18,240 | maximum allocation for a prop firm. And it took me so many fewer challenges. It took me a year and a half of experience of doing this on my own. And after |
| 98 | 00:13:18,240 --> 00:13:25,200 | again, I'm going to keep on to the count. I was like, wow, I actually did it. Like I did not think like, obviously I was working towards that goal. But once |
| 99 | 00:13:25,200 --> 00:13:32,460 | like you actually achieve it, it feels like oh, like I did it. That's crazy. So that was one big milestone just because that was just like, Okay, you have a |
| 100 | 00:13:32,460 --> 00:13:40,740 | chance in this. And then after that, those milestones after it's like, okay, I'm making big withdrawals, like, I'm making like five figure withdrawals. But then |
| 101 | 00:13:40,740 --> 00:13:48,150 | they're like, Okay, like, I expect this, you know, it's just like that first milestone is the craziest cuz he like this can actually work is like that |
| 102 | 00:13:48,150 --> 00:13:56,580 | provides the hope. Right? But after after the milestones after that, it's just like, Okay, it's cool to have it, but it's not like, it doesn't feel as good as |
| 103 | 00:13:56,580 --> 00:13:57,900 | the first milestone, right? |
| 104 | 00:13:59,190 --> 00:14:09,090 | ICT: Everyone has asked this of me as the mentor, and you have the opportunity to answer it directly. Because I'm sure in the comment section, they're going to |
| 105 | 00:14:09,090 --> 00:14:19,500 | be wanting to ask this question, if I don't ask it directly. How long did it take you to reach profitability, not just when you made your first win, but when |
| 106 | 00:14:19,500 --> 00:14:25,590 | you felt like you understood what you were doing? And you felt like you were consistent with what it is you're trading? |
| 107 | 00:14:27,450 --> 00:14:41,130 | Paladin: I will see the middle of 2022 last year so doubt so I started in 2019. So three and a half years, but that's just because back then there wasn't really |
| 108 | 00:14:41,130 --> 00:14:49,650 | much um, I feel like now with your YouTube that's like, it's even better because you actually doing this because before you turn 21 mentorship it wasn't like |
| 109 | 00:14:49,650 --> 00:14:56,070 | really like it was just the charts. But now you're explaining on your YouTube it's like even a better version of your 2021 mentorship, something like that |
| 110 | 00:14:56,070 --> 00:15:03,660 | will help a lot or lotteries out that might everyone's journey is different, some might even doing quicker than me some might take a little longer. So yeah, |
| 111 | 00:15:04,080 --> 00:15:11,370 | so for me three and a half years before I finally like, okay, the skill set, I have like locked in, like, if I want to lose everything right now I have the |
| 112 | 00:15:11,370 --> 00:15:14,910 | skill set, which I can leave in a couple of years, I'll get back to where I am right now. |
| 113 | 00:15:16,410 --> 00:15:24,000 | ICT: I'm glad you mentioned that because a lot of times, new viewers, new students will come to the channel or they'll come to Twitter. And they'll have |
| 114 | 00:15:24,000 --> 00:15:33,300 | these unrealistic expectations of just because they watched a couple of videos there, they should know how to do this right away. And you're a living testimony |
| 115 | 00:15:33,300 --> 00:15:40,530 | that it takes effort. And if you don't put the effort in and you clearly have, you won't get the results that you're looking for, you certainly won't get the |
| 116 | 00:15:40,530 --> 00:15:51,450 | results that you've been able to obtain, which is amazing. But what what routine or schedule Did you stick to? By learning your model and seeking consistency? |
| 117 | 00:15:51,450 --> 00:15:57,420 | Like what was your schedule of studying charts or dealing back testing? What kind of schedule Did you work with? |
| 118 | 00:15:58,200 --> 00:16:04,050 | Paladin: Yeah, so when I first started in 2020, like those six months, like, I feel like when you first start, like you have to spend all day like trying to |
| 119 | 00:16:04,050 --> 00:16:10,500 | understand the concepts because you're new to it. So like the first couple of months when you're trying to when you're studying ICT concepts, many concepts, |
| 120 | 00:16:10,740 --> 00:16:18,330 | yeah, spend all day on his pen, trying to understand what exactly are the concepts, but then after a while, I feel like once you do understand the main |
| 121 | 00:16:18,330 --> 00:16:25,200 | concepts is like you don't need to spend all day on anymore, because you can't really improve further on that you understand the strategy somewhat. So then |
| 122 | 00:16:25,200 --> 00:16:33,600 | from then on, I will just spend a couple of hours on your strategy. And then there's trading on the side demo accounts or small live accounts. That helped me |
| 123 | 00:16:33,600 --> 00:16:42,390 | so yeah, so the the routine is when he first started off, you just spent a lot of times trying to understand these concepts. Then after a while as, as you as |
| 124 | 00:16:42,390 --> 00:16:48,690 | you understand the main concepts, maybe like limit your time you only spend all day on it and won't really be I feel like anything above like three to four |
| 125 | 00:16:48,690 --> 00:16:56,400 | hours of studying and concepts won't be productive in the sense if you do understand the strategy, because what are you gained? I gained that much you |
| 126 | 00:16:56,400 --> 00:17:03,540 | just, you just I feel like you're analyzing too much in sense. Information overload. Yeah, information overload. Exactly. |
| 127 | 00:17:03,930 --> 00:17:08,190 | ICT: Did you journal? And if you did, journal, how did it aid you and your development? |
| 128 | 00:17:09,210 --> 00:17:19,380 | Paladin: Yeah, so journaling is definitely is definitely a big thing, because it shows you that, like it shows you first off, if you journal with the setups, |
| 129 | 00:17:19,380 --> 00:17:27,030 | like will you write yourself which setup did you use shows you what your setup is, what your model is, I found my main setups, which I look for, from |
| 130 | 00:17:27,030 --> 00:17:35,430 | journaling from looking back. And it also helps me when I'm in a losing streak. And I take my journal, it gives me that confidence. Because most losing students |
| 131 | 00:17:35,430 --> 00:17:43,380 | I've encountered, I've gotten out of it, like I've gotten out of it eventually. So I just look back at my journal, I think, Okay, I'm in a losing streak. This |
| 132 | 00:17:43,380 --> 00:17:52,590 | is common this is every trader faces this. And if I look at my journal and just look at the past day, this gives me confidence that I did it before multiple |
| 133 | 00:17:52,590 --> 00:18:00,180 | times I got out of it multiple times, just don't get emotional. And those losses, don't do anything stupid. And then eventually you get out of it. So |
| 134 | 00:18:00,180 --> 00:18:08,190 | journaling helps in a lot of aspects, finding your model finding setups, giving you confidence that this can work, because sometimes there's going to be months |
| 135 | 00:18:08,190 --> 00:18:15,510 | where just like, it's just like, sometimes it's not hitting like the trees not hitting and then for most times it is so if you look back in your journal and |
| 136 | 00:18:15,510 --> 00:18:23,670 | see that okay, my accuracy was pretty good for so long this can work like, don't be discouraged. This is this this month, where it might be a little iffy, like |
| 137 | 00:18:23,670 --> 00:18:26,160 | it might be not many sounds might not be the best. |
| 138 | 00:18:27,420 --> 00:18:35,220 | ICT: My next question was going to be, how do you handle losing trades, and it sounds like and this is actually a good thing. When, as traders, we go through a |
| 139 | 00:18:35,220 --> 00:18:45,180 | period of drawdown or a series of losing trades, if you don't have a period of time where you have logged a good set of weeks or months or even longer time |
| 140 | 00:18:45,570 --> 00:18:56,010 | where you've been consistent. It's hard to feel like you should be confident in yourself. Apart from the journaling. Was there anything else that you did to |
| 141 | 00:18:56,010 --> 00:19:03,690 | help keep yourself motivated? And not be bogged down with the the regrets that come with losing? |
| 142 | 00:19:06,120 --> 00:19:18,330 | Paladin: Yeah, so I trade with so I trade with a probabilistic mindset because I look at when I trade I think of it oversees the trades. So I think a bit over 10 |
| 143 | 00:19:18,330 --> 00:19:27,600 | trades. So if I were to have maybe three losing streaks, I know that as long as I can end that 10 trading series that should attend trades, and maybe I could |
| 144 | 00:19:27,600 --> 00:19:37,380 | get like maybe five wins out of those 10 Then I'll be profitable. So I just like to think of it long term over 10 trades. So that helped me a lot just not trying |
| 145 | 00:19:37,380 --> 00:19:44,670 | to focus on Okay, either day to day, an hour a day tomorrow. Like just thinking of it like okay, a red day is not a bad day. Because if you think long term over |
| 146 | 00:19:44,670 --> 00:19:52,620 | 10 trades, and as long as you picking the right setups and not getting emotional and then picking the bad setups, you will be fine. So it's all fine. |
| 147 | 00:19:52,740 --> 00:20:01,680 | ICT: So if I understand what you're saying correctly, you like to look at a set of trades as a group and you don't know rarely look at one or two or three of |
| 148 | 00:20:01,680 --> 00:20:11,670 | them. But you look at a collection of trades over a sample size of a time, maybe it's a month, maybe it's a week, and you are not demoralized because you've |
| 149 | 00:20:11,670 --> 00:20:19,320 | taken one or two or a series of losing trades, because you know that that's a normal cycle where we're going to come in and come out of our edge. It's not |
| 150 | 00:20:19,350 --> 00:20:30,510 | we're not always gonna win. Am I understanding correctly? Yeah, definitely. What mental hurdles did you have to contend with personally and or overcame? Through |
| 151 | 00:20:30,510 --> 00:20:43,680 | trading other words, you mentioned that you were fear like fearful? Or I think I think it's what you said something to that effect when you first started, like, |
| 152 | 00:20:43,980 --> 00:20:51,480 | the normal characteristics of a trader, because I was when I first started, I was afraid to get in. So I don't have a problem with getting in. But what type |
| 153 | 00:20:51,480 --> 00:21:02,550 | of hurdles did you have? And what did you overcome by being a traitor? And you're now strengthened from, I guess, from a psychological stance? You're |
| 154 | 00:21:02,580 --> 00:21:05,220 | better now because you have done this? |
| 155 | 00:21:06,690 --> 00:21:16,950 | Paladin: Yeah, so when I first started trading when I was 17, I was nowhere close to my level of mindset and emotional intelligence. Emotional intelligence |
| 156 | 00:21:16,950 --> 00:21:25,470 | was one big thing that definitely develop as a trader like, through trading my psychology just in my like life experience psychology, not trading psychology |
| 157 | 00:21:25,470 --> 00:21:34,260 | itself, but just like psychology, how people think personal introspection, definitely, that helped a lot. As a trader, yes, just my emotional intelligence, |
| 158 | 00:21:34,260 --> 00:21:41,760 | which is so key in every aspect of life, not only trading, that that's what really grew. Like, if I wasn't trading, my emotional intelligence wouldn't be as |
| 159 | 00:21:41,760 --> 00:21:49,080 | high as it is right now. But through trading through experiencing, okay, these feelings, these emotions affect me. And then also reading books on how they |
| 160 | 00:21:49,080 --> 00:21:58,830 | affect you. Why you feel fear, why you feel confident, why you feel euphoric, and all those, all those emotions and how it affects you and your thinking, |
| 161 | 00:21:58,980 --> 00:22:01,530 | trading really helped me increase my emotional intelligence. |
| 162 | 00:22:01,590 --> 00:22:11,040 | ICT: Awesome. What would you say to encourage other students that are learning what it is I share and teach on my YouTube channel? What would you tell them? |
| 163 | 00:22:11,370 --> 00:22:21,030 | What would you encourage them to do? What types of things would do advice for them to stay motivated? Because in the beginning, it's very difficult even in |
| 164 | 00:22:21,030 --> 00:22:25,980 | your testimony, it wasn't right away, it's time. What would you say to them to encourage them? |
| 165 | 00:22:28,440 --> 00:22:35,130 | Paladin: Yeah, so when you first starting, I would recommend finding a group because if you're by yourself, and you're just trying to learn the concepts, |
| 166 | 00:22:35,130 --> 00:22:42,990 | it's pretty hard. But when you have a group, and people are sharing the setups, that helps because you get a little, you get a little understanding. But then |
| 167 | 00:22:42,990 --> 00:22:50,460 | after a while, it's best to go your separate ways. And actually, like I said, previously, it's best to just do it yourself and experienced, that's where you |
| 168 | 00:22:50,490 --> 00:22:58,290 | that's where that's where I truly grow the most, not by watching someone's live session, taking the same choice as them, but just going out there and using |
| 169 | 00:22:58,290 --> 00:23:05,430 | these strategies on my own, like looking at my notes, all these notes I've taken which setups are nice, which setups are good, see it play out on the charts, |
| 170 | 00:23:05,670 --> 00:23:14,430 | sometimes doesn't hit sometimes it hits try to understand why. And yeah, after a while, it's best to try to do this on your own, after you've actually studied |
| 171 | 00:23:14,430 --> 00:23:22,020 | the concepts and mastered it. But that's a big thing. A lot of people they just don't want to do it on their own. They just like they try to rely on someone. |
| 172 | 00:23:22,230 --> 00:23:33,180 | ICT: Yeah, I think it's I think it's useful to be a part of a community so that way, you can see the difficulty that everybody has initially, and also to see |
| 173 | 00:23:33,180 --> 00:23:42,900 | what other people are willing to share as a means of encouragement. But you said it properly at the end where eventually at some point, you have to be an island |
| 174 | 00:23:43,380 --> 00:23:51,030 | in and of yourself, where you make the decisions for yourself and your independent Lee thinking about what it is you're doing so that way you're not |
| 175 | 00:23:51,030 --> 00:24:01,260 | relying on outside influences on your trade decisions because that is not your trade is someone else's in managing which they if you were asked to describe |
| 176 | 00:24:01,260 --> 00:24:12,840 | your personal model, and what ICT concepts do you actually employ it? You don't have to say in great detail, but like what what type of trade model do you use |
| 177 | 00:24:12,840 --> 00:24:17,340 | this as a trading model? Was it a century model? And what concepts do you use it? |
| 178 | 00:24:18,360 --> 00:24:28,200 | Paladin: Yeah, so for me, I am an intraday trader, swing trading for me, it's, I can't hold the tree for a couple of days. Because if I'm up, if I'm open, I lose |
| 179 | 00:24:28,200 --> 00:24:39,030 | a trade. I'm like, damn, I wish I wasted three days of my life. Listening stop loss. I can do I can do swing trading, so I do intraday trading. The model that |
| 180 | 00:24:39,060 --> 00:24:49,110 | I've noticed that that has given me the highest probability setups is definitely trading with the institutional order flow or the trend, using fair value gaps as |
| 181 | 00:24:49,110 --> 00:24:57,780 | a way to see where price wants to go and give you at correlating that with institutional order flow. And then once you have that on the higher timeframe |
| 182 | 00:24:57,780 --> 00:25:04,770 | knowing what the bias is the moment you know the box As on the higher timeframe, it becomes much easier to trade and find these setups on the lower timeframe. So |
| 183 | 00:25:04,770 --> 00:25:14,340 | then I go on a lower timeframe and the setups which I have found that I consider as a plus setup is during London session we have it's prime time for tau soups. |
| 184 | 00:25:14,550 --> 00:25:25,620 | So liquidity grabs equal highs into an order block. That's like, that's like my best eight plus setups. And then the second one would be ote, I watched that |
| 185 | 00:25:25,620 --> 00:25:36,990 | entire playlist on YouTube that ote videos that helped a lot. So those two are my main eight plus setups. And it just correlates and it's also the same as |
| 186 | 00:25:36,990 --> 00:25:39,990 | power of three. I love those three setups. Awesome. |
| 187 | 00:25:40,830 --> 00:25:49,290 | ICT: So walk us through a typical day of your trading. What's it like? When do you wake up? What do you do before you trade? What do you do after you're done |
| 188 | 00:25:49,290 --> 00:25:52,560 | trading? Like what does a typical day for you look like when you're trading? |
| 189 | 00:25:53,610 --> 00:26:03,420 | Paladin: Yeah, so So for when I first started off, I when I first started, I just I dropped out of everything, and I was a broke full time day trader. And |
| 190 | 00:26:03,450 --> 00:26:10,500 | that didn't end up well. Because there are times when market conditions are not the best and you shouldn't really be trading. But when you're a broke full time |
| 191 | 00:26:10,500 --> 00:26:17,610 | day trader, you feel like you have to treat it like you have even more conditional, the best you feel you have to train. So I ended up doing very bad |
| 192 | 00:26:17,640 --> 00:26:26,760 | because of that. Only when I started actually going back to college because I had those I lost hope during certain periods of this journey and getting a job. |
| 193 | 00:26:27,510 --> 00:26:35,820 | I was able to make my first 50k When I had college when I had a balanced lifestyle, because I would wake up in New York session London session, if there |
| 194 | 00:26:35,820 --> 00:26:43,560 | is nothing clean, I need to go I'll go back to sleep and just continue my day, like but as a as a full time broke day trader, I would just force setup. So |
| 195 | 00:26:43,560 --> 00:26:50,250 | that's what I do. That's a routine that helped me a lot just having a balanced lifestyle and knowing that if nothing is clean, just continue on with the day. |
| 196 | 00:26:50,430 --> 00:26:56,700 | And a lot of traders struggle with that. They feel like they feel like they need to trade every day, or they feel like they need to trade every week. And I don't |
| 197 | 00:26:56,700 --> 00:27:06,270 | even trade every week. Sometimes I just trade when the conditions are the best. But as of right now as a full time day trader. Previously, I was waking up at |
| 198 | 00:27:06,270 --> 00:27:15,510 | 2:30am because I wanted to catch London in New York session. But now I'm at a point in my trading where I I'm I'm financially well off thanks to you, which is |
| 199 | 00:27:15,510 --> 00:27:25,200 | pretty crazy. Like, it's like, at this point, I wake up, I wake up, I wake up at 4:30am. Now just because I prioritize health over money in a sense, like, Okay, |
| 200 | 00:27:25,200 --> 00:27:32,580 | I might miss out on some money. But at least I'm getting a good seven, eight hours of sleep now compared to the past three years where I barely had any sleep |
| 201 | 00:27:32,580 --> 00:27:41,490 | because I had so much things going on. So now I'm prioritizing health over money. So I wake up at 4:30am Sometimes I do miss that thing turtle soup during |
| 202 | 00:27:41,490 --> 00:27:45,660 | London session open. But New York session, they it gives good setups as well. |
| 203 | 00:27:45,780 --> 00:27:58,920 | ICT: Awesome. So I'd like to close the interview with your ideal future for you as a trader, what's your goals? And if you could encapsulate what it has been |
| 204 | 00:27:58,920 --> 00:28:11,130 | for you like, how you've made money, how much you've made, where you really excelled in your, in your pursuits as a trader that kind of like, encapsulate |
| 205 | 00:28:11,130 --> 00:28:14,130 | everything that you've had as an experience working with what I've taught. |
| 206 | 00:28:15,540 --> 00:28:24,270 | Paladin: Yeah, so like I mentioned 2022, I was able to withdraw $23,000. That was my first year that was actually profitable. I did not I started the year, I |
| 207 | 00:28:24,270 --> 00:28:34,260 | did not think I was on the end and like 20 50k, maybe, maybe some profits, but not that big of a profit. It just happened out of nowhere. And so my goals for |
| 208 | 00:28:34,260 --> 00:28:45,600 | this year is. So currently I am I am working with some hedge funds to get regulated. And hopefully, they said that if I do get approved for regulation, I |
| 209 | 00:28:45,600 --> 00:28:54,210 | can manage up to like $10 million in private capital, which is pretty good. With prop firms. I'm trying to aim for three to 5 million by the end of this year. |
| 210 | 00:28:54,900 --> 00:29:04,170 | Which shouldn't be too bad just because I have the money now to purchase these big challenges. So it might sound crazy, but if you but the challenges I do is I |
| 211 | 00:29:04,170 --> 00:29:12,660 | do like 40k challenges. Now I don't do like back then I used to 50k 100k where I could afford. And my achievements launched with the K this year. So it was a |
| 212 | 00:29:12,660 --> 00:29:20,820 | march, January, I started off with a losing streak I traded during the first two weeks, which is not the best it was consolidating. I learned from that though, I |
| 213 | 00:29:20,820 --> 00:29:29,010 | learned from that I had a four losing streak when I started off. But then the next two trades, I hit TP and I was back to breakeven. So that goes back to |
| 214 | 00:29:29,010 --> 00:29:40,440 | thinking over a series of trades. And then now this was not March time flies well, so next so next week, I do have a 13k withdrawal with F TMO. And I will |
| 215 | 00:29:40,500 --> 00:29:50,160 | and out that without withdrawal as well that will give me an overall payout with actually more of 100k which is pretty cool not because of the monetary value but |
| 216 | 00:29:50,160 --> 00:30:00,210 | just because of what it took me all that pain and suffering and that time to actually get to that point. So I'm excited for that certificate. So yeah, So |
| 217 | 00:30:00,210 --> 00:30:12,810 | this is this is this, this is pretty cool to be in a position where I have a good foundation now where I can make five figures monthly. And it's, it's a I'm |
| 218 | 00:30:12,810 --> 00:30:16,620 | just blessed to be here and it's all thanks to you, like I said be quiet before. |
| 219 | 00:30:17,910 --> 00:30:23,760 | ICT: Has it changed you in any way? Personality wise, being so profitable? |
| 220 | 00:30:25,350 --> 00:30:26,970 | Paladin: Personality wise? Um, |
| 221 | 00:30:27,780 --> 00:30:40,770 | ICT: do you feel any kind of changes in your in your person? Or? Obviously, for men, it tends to build up our ego a lot. Have you felt any kind of changing in |
| 222 | 00:30:40,770 --> 00:30:43,560 | the way you handle yourself? Since you've now been so profitable? |
| 223 | 00:30:44,520 --> 00:30:53,490 | Paladin: Um, yeah, so that's one thing I'm working on. I've heard a lot of stories about like, power corrupts people. So I tried to stay as egoless as |
| 224 | 00:30:53,490 --> 00:31:01,410 | possible. It's also one of the reasons why I don't really buy like I don't I don't buy like a nice car, because I feel like it'll give me that ego boost. So |
| 225 | 00:31:01,410 --> 00:31:08,340 | I'm trying to I'm trying to I'm trying to let my brain mature a little bit. I am pretty young. I'm 21. I'm trying to because the moment I get that car, like I'll |
| 226 | 00:31:08,340 --> 00:31:18,060 | get, I'll get that ego boost. So I'm trying to try to understand what is the best way to go about living this, this, this this life that is very rare, and |
| 227 | 00:31:18,060 --> 00:31:26,880 | it's very, it's very cool to live in. So I'm still I'm still trying to figure it out. But as of right now, I'm trying my best to stay. I'm not trying to act like |
| 228 | 00:31:27,000 --> 00:31:36,120 | egotistical and like I'm better than everyone else. I'm just, I'm just I'm just like, blessed and like I've had times and throughout this journey where yeah, |
| 229 | 00:31:36,150 --> 00:31:43,380 | I've yeah, like I would say most people would have gave up but my wife was really strong, which I was lucky to have a really strong why, even though I |
| 230 | 00:31:43,380 --> 00:31:50,730 | don't quit, even though I'm not really a quitter. I feel like if I didn't have that, why behind it, I would have gave up because my why was so strong. I |
| 231 | 00:31:50,730 --> 00:31:58,710 | remember I used to repeat Elon Musk quote. Even if the odds on your favor if something is important enough, you should still do it. And that's what kept me |
| 232 | 00:31:58,710 --> 00:32:02,490 | going on. So yeah, so I'm trying my best right now. But let's see how it goes. |
| 233 | 00:32:03,660 --> 00:32:11,130 | ICT: Well, that's awesome. It's been such a privilege and honor for me as a mentor to be able to meet you face to face to hear your story. I've heard your |
| 234 | 00:32:11,130 --> 00:32:20,610 | other interviews that the other companies have done and there's another podcast, gentleman interviewed you, I was able to watch that as well. It's just a such a |
| 235 | 00:32:21,120 --> 00:32:32,130 | privilege to be able to see young people take the skill set like this and be able to make it their own. And I'm so proud of you and what you've been able to |
| 236 | 00:32:32,130 --> 00:32:38,580 | accomplish in such a short period of time, even though it probably felt like a lifetime. There's three years getting there. You now have something that's like |
| 237 | 00:32:38,580 --> 00:32:47,430 | a superpower. Like you have the ability to not rely on someone else telling you here's how much money you can earn. And that to me is an amazing, amazing |
| 238 | 00:32:47,430 --> 00:32:50,310 | testimony and I'm so thankful you had the time to share with us. |
| 239 | 00:32:50,730 --> 00:32:53,550 | Paladin: Thank you those words mean a lot coming from the man himself. |