When I heard Kyle had acquired over $3 million in a funded accounts, by taking multiple prop firm funded trader challenges (like the one from my sponsor CTI where you can get up to a 100% profit share), I had to get him on the show to find out his secrets.
But his journey wasn’t all smooth sailing… No, Kyle’s journey was more like that scene out of Wolf of Wall Street where Leo takes his super yacht directly into the eye of the storm.
But calmer waters sound like they have arrived. Since the show I’ve been told Kyle now has over $5 million in funding. Well done that man!
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Market Wizards by Jack Schwager
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Kyle’s Trading Strategy
[07:20] There is a possibility to make a lot of money in the market.
[13:26] Just because you have a strategy doesn’t mean you’re going to be profitable.
[15:32] You can’t just skip the whole process and go from inconsistent, unprofitable trader to professional.
[18:35] If you don’t protect yourself from the downside, there’s no way you’re going to stay alive in the game.
[19:27] You have to be able to learn how to manage money out of small scale before you can do it on a big scale.
[20:47] Trading is a numbers game. It’s a probability game.
[28:20] That’s the huge problem with traders that they’re always trying to hit a homerun.
[37:56] Once you’re funded it’s more about capital preservation.
[40:05] You have to learn how to manage your money properly before you can become a profitable trader.
[44:27] Once you know how to trade you can scale infinitely.