Okay, so we’re 52 episodes in to the Trading Nut podcast and I bagged over 120 interviews with my old podcast (scarily named 52 Traders) and I started to think I’d heard it all … Until I met Mario Hennenberger that is.
Mario is not only a full time Forex trader, he also runs his own prop trading firm (with a unique twist, might I add).
Oh, and I convinced Mario to give my listeners a deal if they joined his prop firm, see below…
Mario’s “Get Funded” Exclusive
$200 Trading Nut Listener Offer
Get a $200 bonus and earn 50% of your day trading profits through Mario’s extremely flexible Prop Trading Firm, EnFoid (terms apply).
Podcast Interview
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Interview Links
SwingFish.trade
Enfoid.com – Includes Trading Nut “Listener Offer”
Recommended Book
Trading for a Living by Alexander Elder
Broker & Platform
CTrader
IC Markets
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Mario’s Video of the Week
Mario’s “Get Funded” Exclusive
$200 Trading Nut Listener Offer
Get a $200 bonus and earn 50% of your day trading profits through Mario’s extremely flexible Prop Trading Firm, EnFoid (terms apply).
Key Lessons
[14:55] I blew a lot of accounts. I blew a lot of money away and so I learned the hard way, just like everybody else.
[16:32] It’s all just a numbers game and you have to realize that. And if you do that’s when you start making money.
[17:20] Don’t focus on profits, always focus on your losses.
[17:52] If you are in a loss, you have to make sure that you’re not doing anything wrong.
[18:05] Lose money professionally because making money is easy, keeping the money is hard.
[24:28] If you have a lot of positions during the day then your volatility goes up pretty severe and if your emotions come in you can basically blow out in a single day.
[27:15] It’s not the analyst’s job to decide where you enter, this is the trader’s job.
[28:57] Your job is to put as much meat as possible between now and the stop loss level.
[31:19] Scaling in in a loss. This is the key to make money.
[35:55] Just because the original entry is in a loss that doesn’t mean it’s gonna go bad, it’s just how the markets work.
[40:37] Volatility doesn’t make you money, this is just feeding your ego if you have like a hundred pips.
[54:45] You have to follow your rules and you have to follow them rather strictly even if it’s a very, very small amount.
[55:42] If you start trading with small money, you have to make sure you follow your rules about money management.
Mario’s Trading
- He runs a unique trading prop firm called Enfoid
- He traded Stocks first before switching to Forex
- He runs a private equity fund
- He has a solid way of doing money management
- He is a day trader
- He trades AUD, JPY, SGD, and GBP
- He avoids trading the US session
- He has 46% to 59% winning rate
- He makes an average of 3 trades a day
- He has a 7-second trading rule
- He uses Support & Resistance to manage his trades
