Dan Cheung, is back on the show again for a 4th time (first featuring on episode 30 of the 52 Traders podcast).
This professional trader from the UK, who used to work as a broker, has transitioned from trading his personal accounts to trading for Prop Firms. There is a compelling reason behind his decision, which you will hear about in the show. Additionally, he shares numerous tips and tricks to assist you in navigating Prop Firm challenges, managing multiple funded accounts, and effectively dealing with multiple firms to ensure consistent withdrawals.
Furthermore, we engage in discussions about topics such as “Trading while traveling” and “Trading with a young family.”
Podcast Interview
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Interview Links
Twitter – @wannabechamp
Instagram – @wannabechamp
YouTube – @wannabechamp & @DanCheung
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Key Lessons
[10:24] Take it slow, do it methodically, focus and take the trade as if it was a live account.
[20:11] Funded trading is a whole other ball game. It’s not even trading on its own because you have rules to adhere to.
[21:39] You have to have a funded trading plan.
[25:46] If you can find people who’ve had multiple payouts from different firms, they are the people you want to follow.
[28:58] When trading becomes a hobby, you end up trading a lot better.
[31:59] Trading is incredibly easy but incredibly hard because of the discipline it requires.
[34:57] You need to take holidays to reset, to reduce your overconfidence, to control your emotions and have a good time.
[46:11] The message is “YOU vs. YOU”. You got to focus on you.
