Elvis's Trading Journey
Elvisâ Funded Trader Journey: From Beginner Losses to 10% Profit Success
Trader Snapshot
Name | Elvis |
Location | Jakarta, Indonesia (0:46) |
Background | Mechanical Engineer |
Trading Experience | 3 Years |
Prop Firm Experience | First Time |
Account Size | $15,000 |
Profit Target Achieved | 10% |
Trading Style | Scalping (Gold/NASDAQ) & Swing Trading (Forex) |
Favorite Markets | Gold, NASDAQ, GBPUSD, EURUSD |
Elvis's Trading Journey
This video features an interview with Elvis, a trader from Jakarta, Indonesia, who recently achieved a 10% profit target on a $15,000 funded account with Audacity Capital, a proprietary trading firm. Elvis shares his journey, trading strategies, experiences, and advice for other traders.
Timeline of Elvisâs Trading Journey
Timeframe | Key Events and Developments |
|---|---|
March 2020 | Started trading Forex after discovering it on YouTube; began with a demo account for 1-2 days before switching directly to a live account. Experienced initial success (âbeginnerâs luckâ) by turning 100 into 1,000 in a few hours trading gold. |
First Year (2020-21) | Struggled with losses, extensive research through books, YouTube, and Forex Factory forums; experimented with many strategies and indicators but faced difficulty achieving consistent profits. |
Second Year (2021-22) | Simplified approach by removing indicators, focusing on naked charts, support/resistance, and supply/demand zones; started to see profits but with fluctuations and occasional margin calls. |
Third Year (2022-23) | Realized the importance of risk and money management, leading to consistent profitability; developed a trading style combining scalping and swing trading. |
Current (2023-24) | Achieved 10% profit target on a funded account, scaling up to a $30,000 account; continues refining winning ratio and market analysis. |
Key Insights and Trading Philosophy
- Live Trading vs. Demo Trading:
Elvis emphasized starting directly with a live account (albeit with small capital) rather than demo trading, due to the psychological differences between demo and live environments. He believes live trading accelerates learning and better prepares traders for real market conditions. - Strategy Evolution:
Initially reliant on many indicators, Elvis transitioned to a simple, clean chart approach using naked charts focusing on support and resistance and supply and demand zones. This simplification helped reduce confusion and improve decision-making. - Risk and Money Management:
The third year was pivotal as Elvis integrated strict risk management rules, which were crucial for sustained profitability. His risk approach varies by strategy: - Swing trades: Use a risk-to-reward ratio.
- Scalping:Â Fixed risk per trade.
- Trading Styles and Markets:
- Scalping:Â Primarily on Gold and NASDAQ indices, to capture small daily moves and achieve frequent results.
- Swing Trading:Â Applied mostly to Forex pairs such as GBP/JPY and USD/GBP, holding positions for weeks based on monthly and weekly chart analysis.
The combination allows flexibility depending on market conditions and account goals.
- Holding Profits and Market Psychology:
Elvis highlights the importance of holding profitable positions during pullbacks if the market structure supports it, a skill many new traders struggle with due to panic or premature exit. - Experience with Proprietary Trading Firm:
Trading with Audacity Capital required adherence to strict rules, which Elvis found beneficial. Making profit âwith rulesâ felt more rewarding than unregulated personal trading. The firmâs framework improved his discipline in risk and trade management.
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Funded Trader ProgramKey Advice for Traders
- Persistence and Resilience:
Elvis strongly encourages traders not to give up easily, especially during early losses and setbacks. - Long-Term Commitment:
He stresses the importance of staying in the game through the first difficult year(s), focusing on survival and continuous learning. - Strategy and Risk Management Development:
Over time, traders will find their edge and effective risk controls, leading to profitability.
Summary Table: Trading Strategy Components
Aspect | Details |
|---|---|
Trading Start | March 2020 |
Initial Account Type | Demo (briefly), then live account |
Main Strategies | Scalping (Gold, NASDAQ), Swing Trading (Forex) |
Chart Analysis | Monthly and weekly charts |
Key Technical Tools | Naked charts, support/resistance, supply/demand |
Risk Management Approach | Risk-to-reward for swing trades; fixed risk per trade for scalping |
Funded Account Achievements | Reached 10% profit target on 15,000; scaledto15,000; scaledto30,000 |
Trading Psychology Focus | Managing emotions, holding profits during pullbacks |
Core Concepts
- Live trading experience is essential for realistic psychological adaptation.
- Simplicity in strategy (naked charts, key levels) can enhance clarity and performance.
- Risk and money management are critical for long-term consistency.
- Combining scalping and swing trading allows adaptability to different market environments.
- Discipline through proprietary firm rules can improve trading habits and results.
- Persistence and resilience are fundamental traits for success.
This interview with Elvis provides valuable real-world insights into the development of a profitable trader, emphasizing the importance of psychological readiness, simple but effective strategies, and disciplined risk management within a structured funded trading program.
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