104: The 21 Yr Old Forex Trader Who Never Took A Course w/ Jack Doyle

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Jack Doyle comes across a lot older than his 21 years. Probably because this Irish lad now lives the high life in Dubai where he runs Velocity Forex with his business partner.

What surprised me most about Jack is that he didn’t take the typical route and seek out courses (avoiding the trap of strategy hopping) which could be the secret to his success.

And if you remember the face or the voice… Yes, he was a finalist in my first Trader vs Trader series with the 3rd highest Replay Challenge score, to date! A whooping 12.85R after 5 trades.

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Podcast Interview

Interview Links

Instagram – @jlddxb

Broker & Platform

VantageFX

Jack’s Trading Strategy Explained

Key Lessons

[16:15] When you just focus on two to three currency pairs, it’s better than trying to come up with a trade on all other currency pairs.

[18:03] You don’t have to be always, actively on the market. Even if you’ve only taken two or three trades a week, it’s perfectly fine.

[28:45] If you really want to make a living from Forex, you need a larger portfolio.

[31:29] When you trade with your own money, you take everything a lot more serious.

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[34:05] Stay away from demo. Maybe use a demo account to get used to placing the trades and what stop loss and take profit is.

[34:17] Start with real money, real capital and take it as seriously as possible if you really want to be a trader.

[36:39] The more you watch and the more you see those things actually happening, then maybe you’ll get the confidence to go in and take the trade.

[36:54] Just by watching actual charts can actually give you a lot of experience and a lot of understanding.

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[40:06] Trusting yourself and keeping a journal is very helpful.

[41:10] If you take a note and write it down, it will give you more confidence in the next trade.

[43:42] Be patient. Don’t chase money. Don’t chase trades. Let them come to you and you’ll eventually see the benefits.