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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 00:00:48,720 a six figure day trader after four years of trading, and I've withdrawn $250,000 With the help of Prop firms.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.