Suria's Trading Journey

Summary

This video features an interview with Suria, an Indian trader who has been trading with Audacity, a funded trading program, for about one year. Suria trades part-time while working full-time in an IT company. The discussion covers Suria’s trading approach, experience with Audacity’s funded trading program (FTP), risk management practices, and advice for new traders.

Key Insights and Highlights

• Trading Background and Status:
• • Suria is a part-time intraday trader, trading mainly during off-hours (evenings, late nights, and early mornings) while maintaining a full-time IT job.
  • Started funded trading with Audacity in May last year.
  • Has experience with other providers but remains consistent with Audacity due to favorable conditions.
• Trading Strategy:
• • Primarily uses support and resistance levels, along with hourly and daily market structure analysis.
  • Incorporates technical indicators such as Bollinger Bands and VWAP to fine-tune entry points.
  • Mostly focuses on intraday trades but sometimes holds positions for several days if the trade moves against the plan, averaging 3-5 days when necessary.
  • Uses a scaling approach by adding to positions at lower or higher prices depending on the trade direction.
• Risk Management:
• • Initially traded smaller lot sizes with lower capital, minimizing losses.
  • As capital increased, Suria adopted stop-loss orders to limit losses, generally exiting at pre-defined loss targets (e.g., $80 or $200 loss).
  • Emphasizes the importance of stop-loss to protect against adverse moves.
  • Avoids holding positions during major news events (e.g., Fed meetings), opting to cut losses if the market moves in the reverse direction unexpectedly.
• Experience with Audacity FTP Program:
• • Started with a $15,000 funded account and has successfully doubled it multiple times.
  • Recently applied for a $60,000 account upgrade, currently under review by the risk management team.
  • Praises the lower leverage (1:30) and daily drawdown limits which reduce the risk of hitting bottom lines compared to other platforms.
  • Finds the profit split percentage and fee structure in the FTP program somewhat challenging, especially with new FTP terms that differ from the older program.
  • Appreciates the absence of monthly fees on the new FTP program despite the higher one-time fee.
  • Understands that trading with paid accounts encourages more disciplined and cautious trading behavior.

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• Advice for New Traders:
• • Recommend starting with a funded trading program or platform that offers lower leverage and daily drawdown limits to reduce risk.
  • Suggest beginning with smaller capital to manage psychological pressure and avoid large losses.
  • Encourages using platforms with risk controls that prevent wiping out accounts from a few bad trades.
  • Advises being patient and gradually increasing lot sizes and account size to build confidence and experience.

Timeline of Key Events

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Quantitative Data

Core Concepts

• Funded Trading Program (FTP): A scheme where traders trade with provided capital rather than personal funds, subject to risk and profit-sharing rules.
• Intraday Trading: Buying and selling within the same trading day.
• Support and Resistance: Key price levels where the market tends to reverse or pause.
• Bollinger Bands & VWAP: Technical indicators used to identify volatility and price averages.
• Risk Management: Use of stop losses and position sizing to protect capital.
• Leverage: The ratio of borrowed funds to own capital, impacting potential gains and losses.

Conclusion

Suria’s experience illustrates the benefits of starting funded trading with disciplined risk management and careful position sizing, especially when trading part-time. The Audacity FTP program’s structure, including lower leverage and daily loss limits, supports safer trading practices and gradual growth. Suria’s strategy highlights the importance of technical analysis combined with strict stop-loss discipline and awareness of economic events. New traders can benefit from similar approaches, starting small and learning to manage psychological and financial risks effectively.

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