When a long time listener recommends I get someone on the show it’s often a great sign they’re a trader to take note of.
Momo Njie isn’t just some random Forex trader. He’s a personal friend and student of past guest Nick Shawn. Momo shares the steps he took to go from a student of Nick’s to a six figure trader.
While Nick was the inspiration for Momo’s success, he discovered his own unique divergence trading strategy which he used to take his initial $300 deposit into $50,000 and beyond.
I followed Momo’s Telegram chat for a month, took his course, just to be sure checked the trade he shared in the video below… And everything added up!
But the main thing I took away from our interview was his discipline. If you scroll to the bottom you’ll see what I ended up doing with my own trading after realising to main issue with my trading was down to poor discipline.
First things first, take a listen to the interview directly below…
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Momo on “Build That Bot”
[10:27] When I joined Nick’s course like 2 years ago, he was teaching mainly divergence and a little bit of price action.
[11:39] When I started trading live, I was still in the learning process. I was risking really, really small lot sizes.
[12:14] Divergence works on really high timeframes.
[12:18] It’s a lot safer trading on higher timeframes while you still controlling risk.
[13:27] I started Forex with only just $300. That’s the only money I’ve invested in Forex.
[14:01] If you have like one strategy that works really well, that’s literally all you need.
[15:27] Let me just stick to divergence. This is what I know, this is what works so well, and this is what got me consistent.
[18:45] I trade divergence. Even though it’s a really high-risk strategy, I have a good risk management system.
[20:51] The use of the risk-to-reward thing is all based on lot sizes, it’s all based on how well you control your lot sizes.
[21:03] Everything is about controlling your lot sizes and knowing when to get in a trade and when not to get in a trade.
[28:56] 90% of people are losing because they’re all doing the same thing which is having this hunger for money.
[36:58] Spend a lot of time mastering the strategy before going on live.
[37:42] First you Learn and then you remove the “L” so you can Earn.
- He trades Forex
- He learned trading divergence from Nick Shawn
- He started trading with small lot sizes while he was still in the learning process
- He did backtesting on higher time frames
- He started Forex with only $300
- He only trades his divergence trading strategy
- He created his own trading rules
- He has a good risk management system
- He doesn’t use a stop loss
- He trades every single pair except EURCZK, EURPLN, USDHKD, and Indices
- He only spends a maximum 2 hours a day on his charts
- He is investing in (but not trading) Cryptocurrency
How Momo Inspired My Discipline
As mentioned in the intro and interview, the biggest impact this interview had on my own trading was how I approached the topic of “Trading Discipline”.
In all honesty, my discipline has been my biggest downfall. Momo on the other hand can put his success purely down to his discipline. Sticking to one strategy and simply executing on a daily basis.
Anyway, after listening to Momo’s interview, see what I did to being more discipline to my own trading. Who knows, it may inspire more discipline in yours…