Welcome to the first in a new series where I’m tracking the progress of a keen as beans Forex, Futures and Stock trader across the course of 2019.
As a listener to the podcast you get to follow their journey as we check in with them now and again.
25-year old Eli Camacho is our Forex trader and you can listen to his interview below.
If you trade Stocks or Futures please reach out to me on cam -at- tradingnut.com with a short video sharing your trading story to date and why you think 2019 is going to be the year.
And if you’re selected to come on the show I’ll do my best to pair you up with some free education from one of my past or future guests. doing graphic designs and washing windows as his sources of income.
Eli is a part time graphic designer/window washer and first heard about Forex from his younger brother. He’s been studying how it works for the last 7 months and found it to be a roller-coaster ride until he stumbled upon Navin Prithyani’s trading videos on YouTube where he learned a lot about the core fundamentals of how to trade properly.
Now, Eli’s paired up with Andre Stewart and trying to crack the code and understand the whole process by trading with ten-dollar accounts.
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- [20:55] If you’re trading correctly and you’re at least paying attention to when you’re entering the right spot, it really doesn’t matter how small your account size is.
- [25:24] Sometimes I spend 12 hours a day just staring at the charts mostly because I want to understand how the moves work.
- [29:46] Why can’t I have a small stop? Isn’t it the goal of a trader to have an as low risk as possible and have the maximum reward?
- [38:27] Losing ten dollars, even ten dollars it’s like a stomp to the heart sometimes.
- [39:59] You gonna keep on stopping me out? Go ahead keep stopping me out. I’ll to figure out why you’re stopping me out and do better next time.
- [41:07] You can have like 5 massive good trades but if you put like 20 small trades that equal those 5 massive trades, you can lose your money.
- He trades Forex
- He’s studying and learning to trade Forex by watching trading videos on YouTube
- He trades with small accounts
- He’s spending more than 8 hours per day studying the charts
- He’s using his mobile phone to trade when he’s at work
- His Risk-to-Reward ratio ranges from 1:4 up to 1:15
- He places 20 to 50 trades a day
- He doesn’t move his stop
- He sticks with EURUSD pair