Ezekiel's Trading Journey

Introduction and Achievement Recognition

• The conversation begins with Federica greeting Ezekiel, a trader who has successfully passed the Ability Challenge with a significant target of $240,000.
• Ezekiel has been trading with Audacity Capital for a considerable time, marking this as their first in-person meeting.
• Federica congratulates Ezekiel on his repeated successes on the challenge account.

Ezekiel’s Trading Background and Journey

• Ezekiel started trading around 2007 after leaving the banking industry.
• He was drawn to trading because it suited his desired lifestyle: working independently behind a laptop and earning well.
• Ezekiel has been a full-time forex trader since then but also manages other businesses.
• Trading forex daily is his routine unless health or other engagements intervene.

Transition from Banking to Intraday Forex Trading

• Coming from financial services, Ezekiel found adapting to forex trading relatively easy.
• He uses an intraday trading style, entering and exiting trades quickly — typically within a day or at most two days.
• Ezekiel explicitly avoids swing trading, closing any trade held beyond two days as a sign of a bad trade.
• His passion for trading grew out of his financial background and lifestyle preferences.

Relationship with Audacity Capital

• Ezekiel’s first prop firm experience was brief due to that firm closing down.
• Audacity Capital became his next and preferred prop firm after researching online reviews, which were very positive.
• He appreciated Audacity’s fast profit withdrawals (within hours to a couple of days).
• Ezekiel notes that Audacity has grown significantly in market presence and platform capabilities (from MT4 to MT5).
• He values Audacity’s sustainability and trustworthiness, as many other popular prop firms have ceased operations.
• Despite losing an account previously due to drawdowns, Ezekiel refined his strategy and returned stronger.

Trading Strategy Overview

• Ezekiel employs multiple strategies but emphasizes one core approach based on support and resistance levels.
• He summarizes trading as fundamentally about identifying support and resistance to trade within price oscillations.
• His main strategy is trend following, relying on market structure to determine whether the market is in an uptrend or downtrend.
• Ezekiel strongly prefers trading with indicators, stating he cannot trade without them.
• He acknowledges some traders prefer “clean charts” without indicators but notes that many still use basic ones like moving averages.

Indicators Used and Their Roles

• Ezekiel classifies indicators into four groups: oscillators, momentum indicators, trend indicators, and auxiliators.
• He insists on using at least one indicator from each group for confluence.
• The moving average (MA) is a mandatory indicator for him as it reveals market direction:
• • Upward sloping MA = uptrend
  • Downward sloping MA = downtrend
  • Sideways MA = ranging market
• Oscillators like Stochastic, RSI, and MACD are used as auxiliators to time entries and exits within the trend.
• The MACD (Moving Average Convergence Divergence) is highlighted as especially useful for detecting momentum shifts and overbought/oversold conditions.

Risk Management and Trade Management

• Ezekiel distinguishes between risk management and entry/exit strategies:
• • Risk management is about defining how much money you are willing to lose per trade.
  • Reward is treated separately and is dependent on market conditions, not a fixed ratio.
• Example: For a 100 per trade** regardless of potential reward.
• Stop-loss placement is key and is usually set just below the latest support level or swing low for buy trades.
• Reward targets are set towards the next resistance level, but he does not force trades to hit specific risk-reward ratios if the market does not permit.
• Indicators guide exit decisions: when a buy signal weakens (e.g., MACD starts to tick downward), it indicates the time to tighten stop loss or exit the trade.

Trade Execution and Targeting

• Ezekiel confirms his process:
• • Enter buy trades near support zones to minimize stop loss.
  • Target the next resistance level for profit taking.
  • Exit earlier if indicators show signs of reversal or weakening momentum.
• This method fits his intraday trading style, aiming for quick in-and-out trades with decent profits rather than scalping.

Preferred Trading Instruments and Market Focus

• Ezekiel started with forex and favors the GBP/JPY pair because of its volatility and “discounted” nature:
• • Profits are slightly less than nominal pips but risk is also moderated.
  • GBP/JPY offers enough volatility to generate meaningful price swings without excessive risk.
• He also trades GBP/USD, which shares similar qualities.
• Ezekiel advocates for focusing on one or two instruments only to concentrate analysis and conserve energy, avoiding the fatigue of multi-asset trading.
• Currently, he trades only gold (XAU/USD) for all his funded account profits and challenges with Audacity Capital.
• Gold offers high volatility and large daily pip ranges (average over 1,000 pips/day; some days hitting nearly 4,000 pips).
• This volatility provides ample opportunities for intraday traders who time entries and exits well.

Volatility and Monitoring Requirements

• Both interlocutors agree that gold’s extreme volatility requires constant monitoring and active management.
• Ezekiel clarifies that his “in and out” trading does not mean scalping but rather well-timed trades using indicators to capture large pip moves within the day.
• Due to gold’s volatility, a trader must be attentive and ready to exit when targets are met or momentum fades.
• For intraday traders, large stops and longer time horizons are not typical; quick profit taking is preferred.

Risk Management Philosophy and Psychology

• Ezekiel emphasizes that risk management is inseparable from having a winning strategy.
• Without a profitable strategy, no amount of risk control will prevent losses.
• A high win-rate strategy (e.g., 7-9 wins out of 10 trades) enables confidence in risking a fixed amount per trade.
• Example: risking 1,000 account with a winning strategy will yield net profit even after some losing trades.
• This also positively affects trader psychology, reducing fear and emotional stress during drawdowns.

Advice for New Traders

• Ezekiel’s primary advice: learn extensively and continuously before risking real money.
• Emphasizes the importance of:
• • Studying and practicing rigorously.
  • Consuming educational content (YouTube videos, books).
  • Understanding the markets fully before trading live.
• Psychological readiness is crucial:
• • Avoid trading when distracted or burdened by personal issues (debts, family problems).
  • Achieve peace of mind and focus before trading.
• Proper risk management combined with knowledge and psychology will lead to success.

Closing Remarks

• Federica thanks Ezekiel for sharing his insights and experience, highlighting the value of his words for new traders.
• She reiterates the importance of dedication and consistent study to achieve sustainable trading success.
• Ezekiel expresses willingness to participate in future interviews and support the Audacity Capital community.

Summary Table: Key Components of Ezekiel’s Trading Approach

Key Insights

• Successful trading requires a combination of a sound strategy, disciplined risk management, and psychological stability.
• Trading with indicators, especially moving averages and MACD, provides essential guidance for timing entry and exit points within trending markets.
• Focusing on one or two instruments allows for deeper market understanding and reduces cognitive overload.
• Gold’s high volatility offers significant opportunities for intraday traders but demands active monitoring and quick decision-making.
• Risk management is about defining acceptable loss limits independent of reward expectations, which should be guided by market conditions and indicator signals.
• Continuous education, practice, and mental preparedness are foundational pillars for trading success.
• Indicator Confluence

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