Nnayoh's Trading Journey
Trader Snapshot
Nnayoh's Trading Journey
Introduction and Background
- Interviewee: Nnayoh, a 36-year-old forex trader from Nigeria.
- Current status: Forex trading as a second source of income.
- Joined the trading program in February and successfully hit his first profit target last week.
- Has been trading for approximately 8 to 9 years with experience gained mainly through personal efforts before joining the funded program.
Trading Journey and Initial Exposure
- Originally a web developer.
- Inspired to start trading after seeing his elder brother grow a trading account from $100.
- Transitioned from chasing clients for web development jobs to focusing on trading due to lack of success in client acquisition.
- Started trading with his own funds, experienced initial losses, but continued learning and trading steadily.
Trading Markets and Instruments
- Trades primarily currencies (forex) and commodities.
- Does not trade other financial assets outside these categories.
Trading Style and Strategy
- Prefers trend-following strategies; believes “the trend is your friend.”
- Focuses on swing and intraday trades, avoiding range-bound market days which he finds difficult.
- Holds long-term positions until target levels are reached.
- Utilizes technical tools such as divergence indicators and Fibonacci retracement levels for identifying resistance and support.
- Works mainly with daily and four-hour timeframes to make trading decisions.
Funded Account Experience and Personal Trading
- This is his first time managing a funded trading account; previously traded only personal funds.
- Personal account capital ranged from $100 to $500, frequently making withdrawals and replenishing the balance.
- Personal trading was characterized by aggressive risk-taking, lacking formal risk limits.
- Funded account imposes strict daily and weekly loss limits, which positively influenced his discipline and decision-making.
Account Type | Capital Range | Risk Approach | Risk Management | Resulting Behavior |
Personal Account | $100 - $500 | Aggressive | No formal limits | Held losing trades longer, more losses |
Funded Account | Not specified | Structured and limited | Daily/weekly max loss limits | Quicker to exit losing trades, more discipline |
Impact of Risk Management on Performance
- Strict risk management rules from the funded account program helped him become more selective and disciplined in trade entries and exits.
- Achieved the first profit target within approximately 1.5 months, attributing success largely to improved risk control.
- Has started applying these risk management rules to his personal account, resulting in improved performance there as well.
Preferred Currency Pairs and Market Conditions
- Prefers trading yen-related currency pairs, particularly EUR/JPY and other “BRICS in Japan” pairs.
- Uses correlation between pairs to confirm trends and signals.
- Recently experienced market volatility impacting his trades, e.g., the GBP/JPY pair showed reversals disrupting expected trending moves.
- Acknowledges ongoing volatility in forex markets, especially since the Ukraine-Russia conflict began.
View on Market Volatility
- Volatility started to increase significantly with the Ukraine-Russia crisis.
- Sees volatility as a “multiplier” or form of leverage: beneficial if trading in the correct market direction, harmful if not.
- Emphasizes the importance of aligning trades with prevailing trends during volatile periods to capitalize on strong moves.
Overall Experience with the Funded Program (Audacity)
- Considers trading with the funded account as the best phase of his forex trading career due to availability of larger funds.
- The structure forces him to take smaller, more controlled trades, ultimately leading to higher returns.
- Expresses strong satisfaction and enjoyment with the funded program and its impact on his trading approach and results.
Key Insights:
- Risk management and trading discipline are critical for consistent profitability.
- Trend-following strategies, supported by technical analysis tools like divergence and Fibonacci, are effective in his trading approach.
- Volatility can be beneficial if managed correctly and traded in the right direction.
- Transitioning from personal account trading to funded account trading improves trade discipline through enforced risk limits.
- Correlated currency pairs, especially yen-based pairs, provide useful confirmation signals for trade entries.
Summary Table: Trading Profile of Nayo Nnayoh
Aspect | Details |
Trading Experience | 8-9 years |
Primary Markets | Forex (currencies), Commodities |
Trading Style | |
Technical Tools | Divergence indicators, Fibonacci retracements |
Time Frames Used | Daily and 4-hour charts |
Risk Approach (Personal) | Aggressive, unstructured |
Risk Approach (Funded) | Structured, daily and weekly loss limits |
Preferred Pairs | EUR/JPY, other yen-related pairs |
Impact of Volatility | Multiplier effect; beneficial when aligned with trend |
Funded Account Success | First target hit in ~1.5 months due to risk management |
Closing Remarks
- Nnayoh is optimistic about his continued progress and success within the funded account program.
- Plans to maintain disciplined trading habits and aims for future targets.
- Appreciates the opportunity and looks forward to sharing further progress in follow-up discussions.
Choose The Best Plan
Designed to reduce stress by removing deadlines 👍 Unlimited trading period for Challenge, Verification and Live stages.
1st and 2nd Steps:
You only need to trade on 4 different days. A trading day is defined as a day when at least one position is opened.
Live account:
No minimum trading days
The Daily Drawdown resets every day at midnight (MT5 server time – GMT+2 / GMT+3 depending on Daylight Saving Time).
It is calculated as 7.5% (5% for Verification and live stage) of the account’s balance or equity at rollover, whichever is higher.
Your equity cannot fall by more than 7.5% (5% for the 2nd step and live stage) in a single trading day. Once the day resets, a new limit is set based on your updated balance or equity, following a static-based model.
Example:
Account balance at rollover: $120,000
Daily Drawdown (7.5%) → $9,000 → Equity must not fall below $111,000 that day.
If equity or the balance rises to $130,000 by the next rollover, the new daily drawdown will be $9,750 (7.5% of 130,000).
The Absolute Drawdown (Maximum Drawdown) is 15% (or 10% for the 2nd step and live stage) of the initial account balance and remains fixed throughout the challenge.
If either the daily or absolute drawdown is breached, the account will be terminated.
Example: Account balance: $120,000
Absolute Drawdown (15%) → $18,000 → The account will be closed if equity drops below $102,000.
The profit target is 10% on the Challenge stage and 5% on the Verification stage. Achieving these targets while following the rules will qualify you for a Live account
Profit sharing starts at 75%, you can reach up to 90% with consistent performances in line with our scaling plan.
Once on Live stage, traders can request withdrawals biweekly (every 14 days). After the request is approved, traders will receive the profit share in their wallet on the same day.
Once traders earn a payout, they'll be eligible for a Reward Bonus equal to the initial registration fee. This will be included with the first payout from the Ability Live.
Not anymore
You may hold trades over the weekend and trade during news events. Simply avoid opening, closing or adding to positions within 3 minutes before or after any high impact news release or speech, as that can be identified as excessive risk.
EAs are allowed if they follow our prohibited-strategy rules and are not sourced from third-party signals. Please see our prohibited trading practices here.
Copy trading is allowed between your own accounts within Audacity Capital. Copying from an external account is allowed only if the account belongs to you. Third-party copying is not permitted.
Select Program:
Select Account Size
phase 1
Max Drawdown
$750
Based on Initial Balance
Total Loss 15%
Daily loss: 7.5%
Profit Target
$500
Based on Balance
Target : 10%
phase 2
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
$250
Based on Balance
Target : 5%
live
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
More than 10%
Less than 10%
Challenge
Designed to reduce stress by removing deadlines 👍 Unlimited trading period for Challenge, Verification and Live stages.
1st and 2nd Steps:
You only need to trade on 4 different days. A trading day is defined as a day when at least one position is opened.
Live account:
No minimum trading days
The Daily Drawdown resets every day at midnight (MT5 server time – GMT+2 / GMT+3 depending on Daylight Saving Time).
It is calculated as 7.5% (5% for Verification and live stage) of the account’s balance or equity at rollover, whichever is higher.
Your equity cannot fall by more than 7.5% (5% for the 2nd step and live stage) in a single trading day. Once the day resets, a new limit is set based on your updated balance or equity, following a static-based model.
Example:
Account balance at rollover: $120,000
Daily Drawdown (7.5%) → $9,000 → Equity must not fall below $111,000 that day.
If equity or the balance rises to $130,000 by the next rollover, the new daily drawdown will be $9,750 (7.5% of 130,000).
The Absolute Drawdown (Maximum Drawdown) is 15% (or 10% for the 2nd step and live stage) of the initial account balance and remains fixed throughout the challenge.
If either the daily or absolute drawdown is breached, the account will be terminated.
Example: Account balance: $120,000
Absolute Drawdown (15%) → $18,000 → The account will be closed if equity drops below $102,000.
The profit target is 10% on the Challenge stage and 5% on the Verification stage. Achieving these targets while following the rules will qualify you for a Live account
Profit sharing starts at 75%, you can reach up to 90% with consistent performances in line with our scaling plan.
Once on Live stage, traders can request withdrawals biweekly (every 14 days). After the request is approved, traders will receive the profit share in their wallet on the same day.
Once traders earn a payout, they'll be eligible for a Reward Bonus equal to the initial registration fee. This will be included with the first payout from the Ability Live.
Not anymore
You may hold trades over the weekend and trade during news events. Simply avoid opening, closing or adding to positions within 3 minutes before or after any high impact news release or speech, as that can be identified as excessive risk.
EAs are allowed if they follow our prohibited-strategy rules and are not sourced from third-party signals. Please see our prohibited trading practices here.
Copy trading is allowed between your own accounts within Audacity Capital. Copying from an external account is allowed only if the account belongs to you. Third-party copying is not permitted.
Select Program:
Select Account Size
phase 1
Max Drawdown
$750
Based on Initial Balance
Total Loss 15%
Daily loss: 7.5%
Profit Target
$500
Based on Balance
Target : 10%
phase 2
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
$250
Based on Balance
Target : 5%
live
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
More than 10%
Less than 10%
Designed to reduce stress by removing deadlines 👍 Unlimited trading period for Challenge, Verification and Live stages.
1st and 2nd Steps:
You only need to trade on 4 different days. A trading day is defined as a day when at least one position is opened.
Live account:
No minimum trading days
The Daily Drawdown resets every day at midnight (MT5 server time – GMT+2 / GMT+3 depending on Daylight Saving Time).
It is calculated as 7.5% (5% for Verification and live stage) of the account’s balance or equity at rollover, whichever is higher.
Your equity cannot fall by more than 7.5% (5% for the 2nd step and live stage) in a single trading day. Once the day resets, a new limit is set based on your updated balance or equity, following a static-based model.
Example:
Account balance at rollover: $120,000
Daily Drawdown (7.5%) → $9,000 → Equity must not fall below $111,000 that day.
If equity or the balance rises to $130,000 by the next rollover, the new daily drawdown will be $9,750 (7.5% of 130,000).
The Absolute Drawdown (Maximum Drawdown) is 15% (or 10% for the 2nd step and live stage) of the initial account balance and remains fixed throughout the challenge.
If either the daily or absolute drawdown is breached, the account will be terminated.
Example: Account balance: $120,000
Absolute Drawdown (15%) → $18,000 → The account will be closed if equity drops below $102,000.
The profit target is 10% on the Challenge stage and 5% on the Verification stage. Achieving these targets while following the rules will qualify you for a Live account
Profit sharing starts at 75%, you can reach up to 90% with consistent performances in line with our scaling plan.
Once on Live stage, traders can request withdrawals biweekly (every 14 days). After the request is approved, traders will receive the profit share in their wallet on the same day.
Once traders earn a payout, they'll be eligible for a Reward Bonus equal to the initial registration fee. This will be included with the first payout from the Ability Live.
Not anymore
You may hold trades over the weekend and trade during news events. Simply avoid opening, closing or adding to positions within 3 minutes before or after any high impact news release or speech, as that can be identified as excessive risk.
EAs are allowed if they follow our prohibited-strategy rules and are not sourced from third-party signals. Please see our prohibited trading practices here.
Copy trading is allowed between your own accounts within Audacity Capital. Copying from an external account is allowed only if the account belongs to you. Third-party copying is not permitted.
Select Program:
Select Account Size
phase 1
Max Drawdown
$750
Based on Initial Balance
Total Loss 15%
Daily loss: 7.5%
Profit Target
$500
Based on Balance
Target : 10%
phase 2
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
$250
Based on Balance
Target : 5%
live
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
More than 10%
Less than 10%
Designed to reduce stress by removing deadlines 👍 Unlimited trading period for Challenge, Verification and Live stages.
1st and 2nd Steps:
You only need to trade on 4 different days. A trading day is defined as a day when at least one position is opened.
Live account:
No minimum trading days
The Daily Drawdown resets every day at midnight (MT5 server time – GMT+2 / GMT+3 depending on Daylight Saving Time).
It is calculated as 7.5% (5% for Verification and live stage) of the account’s balance or equity at rollover, whichever is higher.
Your equity cannot fall by more than 7.5% (5% for the 2nd step and live stage) in a single trading day. Once the day resets, a new limit is set based on your updated balance or equity, following a static-based model.
Example:
Account balance at rollover: $120,000
Daily Drawdown (7.5%) → $9,000 → Equity must not fall below $111,000 that day.
If equity or the balance rises to $130,000 by the next rollover, the new daily drawdown will be $9,750 (7.5% of 130,000).
The Absolute Drawdown (Maximum Drawdown) is 15% (or 10% for the 2nd step and live stage) of the initial account balance and remains fixed throughout the challenge.
If either the daily or absolute drawdown is breached, the account will be terminated.
Example: Account balance: $120,000
Absolute Drawdown (15%) → $18,000 → The account will be closed if equity drops below $102,000.
The profit target is 10% on the Challenge stage and 5% on the Verification stage. Achieving these targets while following the rules will qualify you for a Live account
Profit sharing starts at 75%, you can reach up to 90% with consistent performances in line with our scaling plan.
Once on Live stage, traders can request withdrawals biweekly (every 14 days). After the request is approved, traders will receive the profit share in their wallet on the same day.
Once traders earn a payout, they'll be eligible for a Reward Bonus equal to the initial registration fee. This will be included with the first payout from the Ability Live.
Not anymore
You may hold trades over the weekend and trade during news events. Simply avoid opening, closing or adding to positions within 3 minutes before or after any high impact news release or speech, as that can be identified as excessive risk.
EAs are allowed if they follow our prohibited-strategy rules and are not sourced from third-party signals. Please see our prohibited trading practices here.
Copy trading is allowed between your own accounts within Audacity Capital. Copying from an external account is allowed only if the account belongs to you. Third-party copying is not permitted.
Select Program:
Select Account Size
phase 1
Max Drawdown
$750
Based on Initial Balance
Total Loss 15%
Daily loss: 7.5%
Profit Target
$500
Based on Balance
Target : 10%
phase 2
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
$250
Based on Balance
Target : 5%
live
Max Drawdown
$500
Based on Initial Balance
Total Loss 10%
Daily loss: 5%
Profit Target
More than 10%
Less than 10%
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