Collins's Trading Journey

Overview

This video features an in-depth interview with Collins, a seasoned professional trader and long-time client of Audacity Capital. Collins shares his extensive trading journey, insights into market dynamics, trading psychology, and his evolving approach to trading, especially in relation to proprietary trading firms like Audacity Capital.

Timeline & Career Highlights

Core Concepts & Trading Philosophy

• Trading as a Business, Not Gambling: Collins emphasizes that trading requires understanding market fundamentals and technicals, economic structures, and disciplined risk management. It is fundamentally a form of business and investment, not a game of chance.
• Market Structure: He breaks down the market into three structures:
• • Technical structure
  • Fundamental structure (fiscal and monetary policies)
  • Sentimental structure
• All react around an equilibrium of supply and demand.
• Fundamentals & Technicals Integration: Fundamental data (e.g., fiscal and monetary policies, employment reports) sets the market mood and is essential to understanding price movements. Technical analysis then measures and manages trades based on this context.
• Specialization: Collins advises traders to specialize in a specific market or asset class rather than trying to trade everything. He personally focuses on gold, linked to the global economy and a $30 trillion market.
• Passion as a Driver: Passion is key to sustained success and growth in trading, helping to develop personalized strategies and systems.

Audacity Capital & Proprietary Trading Insights

• Direct Capital Access Without Phase 1 Fees: Audacity Capital stands out by providing direct funded accounts without the traditional phase 1 evaluation fee, which builds trust and accessibility for traders.
• Reduced Trading Cycles: Audacity has evolved from 30-day evaluation cycles to shorter bi-weekly cycles and recently eliminated the 30-day phase completely, benefiting new traders.
• Risk Management & Psychology: Audacity’s model includes risk limits and daily exposure controls to help traders build strong psychological resilience and disciplined trading habits.
• Affordability & Inclusivity: The firm’s subscription fee is adjusted to be accessible globally, recognizing the economic disparities across regions (e.g., easier for traders in Europe than Africa).

Key Challenges for New Traders

• Wrong Information Overload: Many new traders fall victim to misinformation, hype, and unrealistic expectations, often fueled by social media and lifestyle marketing.
• Misconception of Trading as Quick Wealth: A prevalent “get rich quick” mindset leads to impatience, overtrading, and lack of discipline.
• Fear of Loss & Overtrading: Many beginners struggle with accepting losses and tend to overtrade to compensate or prove themselves.
• Impatience & Fear of Missing Out (FOMO): Traders often feel compelled to be constantly active, misunderstanding that patience and selective trading are more profitable.
• Lack of Foundational Knowledge: Many new traders lack understanding of basic economics and how different economies and policies interact in the forex and commodities markets.

Collins’s Trading System & Strategy

• Uses two main trading systems developed over a decade, including the “X Strategy,” applied consistently in various markets and environments.
• Focuses on understanding market equilibrium and measuring market data to manage trades effectively.
• Incorporates both fundamental economic indicators (fiscal and monetary policies) and technical analysis.
• Strong emphasis on trading gold due to its central role in the global financial system.

Mentoring and Advice

• Unlearning Wrong Foundations: Collins focuses on helping mentees discard misinformation and unrealistic expectations.
• Trading Education: Emphasizes the importance of understanding economics, market structures, and trading as a business.
• Patience & Discipline: Encourages slow, steady progress and specialization rather than chasing every opportunity.
• Emotional Management: Psychology is critical; traders must manage emotional damage and avoid impulsive trading.
• Take Time to Learn: The learning curve is long and requires dedication; rushing leads to repeated failure.

Key Insights & Recommendations

• Trading is a maturity process: It helps develop personal discipline, patience, and growth from beginner to professional.
• Specialization is critical: “Jack of all trades, master of none” applies strongly in trading.
• Risk management and psychology underpin success: Understanding and managing emotions and risk is as important as strategy.
• Trading platforms like Audacity Capital provide crucial support: Access to capital, risk controls, and shorter evaluation cycles lower barriers for traders.
• Slow and steady wins the race: Avoid get-rich-quick mindsets and focus on learning the right foundations.

Conclusion

Collins’s experience highlights the importance of foundational knowledge, patience, passion, and discipline in trading. Proprietary firms like Audacity Capital have transformed access to capital and trader development, supporting sustainable growth in the industry. His mentorship underscores re-education from misinformation and a business mindset as pivotal for traders to succeed long-term.