Transcription
My account went zero. From 4K to 17K to zero, all in a span of like a month. And I was defeated. I gave up trading for a bit at this point, if I'm honest. I was like, I can't, I can't stomach that. I was literally depressed. All you need to know is this [Music].
So welcome everyone back to another Words of Wisdom podcast. We're still here in Dubai. This is the sort of the custom, if you will, but we're here today. We are back now with someone who does trade SMC and trades alongside ICT concepts, Omar.
Hi, my name is Omar, 21, and a trader of ICT Concepts. It's felt like a dating show there, but like it's Asia, um, but yeah, welcome, welcome. I know that obviously I put a poll out in terms of ICT traders on on Twitter, and uh, we've got a lot of people saying your name, and it just so happened you're out in Dubai as well, so it could make it happen.
Yeah, yeah. But um, normally how we start is nice and simple with everyone. Just tell us a bit about your journey, you know, getting into trading, how long you've been trading for, some of the, you know, key moments, and then from there it'll just take you from there really.
For sure. So I've traded now, this is my fourth year. I started 18, um, after I finished A-levels. I took a gap year. Now in the gap year, um, life kind of hits you hard. You have to kind of, it's a weird, very weird like you're in between like a rock and a hard place essentially. I had to get a job, and um, I was working before during my A-levels weekends. I was working in a Primark retail store, and then I shifted to Tesco's. When I was working, the pay is, it's not great. Now I come from a family, you know, like lower-class family, uh, dad was, mom and dad first generation here essentially, and I just kind of, you know, some people in the heart, you just know you cannot settle for whatever it is you're doing, right? So I thought of a way, okay, there's has to be ways to make money outside. Now I was introduced to trading before. I didn't take the step into it, by IML. I had some friends that were sucked into by IMO essentially. I was looking at dropshipping; I was looking at other things, right? I know trading kind of sat well with me. Um, I'm very astute with mathematics, and it, you know, trading goes hand in hand, the logic, the graphs, whatnot, high highs, high lows, that type of thing. I thought, oh, it's just like statistics, right? So then I dived into it. Of course, I dived into retail first because the first thing you look at back then, now is different, and we can speak about that as well. The first thing I looked at was someone called Rain a Tower. I don't know if you're familiar with him, a big retail guy, and now he was a simple market structure or whatnot, and I thought, oh, okay, this is easy. Straight away, open a demo account, place a few trades. I didn't even know the lot sizes and whatever. I'll just get familiar with MT4. Didn't demo properly, funded a live account, uh, I lost that live account, and then what happened was I came across ICT's YouTube channel. Now with ICT, that was a period where he was doing his private mentorship from like this is act 2018, and he was never posting on YouTube again. If you got this YouTube channel, that was like a big gap between his uploads, and I was like, this guy is way too accurate. He's calling this level before it's getting there and whatnot, and I thought, okay, let me try and get into this guy's mentorship. He opened it again in 2020, and I was able to get into it. Now from that, it was a very big paradigm shift in my trading. The logic he was using was essentially the fading of retail, but now, right, so instead, in the sense with my journey now, I studied ICT Concepts. I am, I purely use ICT's Concepts. Uh, I'm funded this day. Do you work? I saw your interviewer, Roger Banks, so we could speak about that as well. It's more so the person executing the concepts essentially, right? There's 90, the 90 news in every single, if you're trading wedges, if you're trading SMC, fair value gaps, whatever it is, it's 90 all using, and it's because of the development of the trader, right? So now I fall back to only ICT Concepts. I believe they do work. I believe that there is essentially no one speaking about real smart money, though. I feel like everyone now is just a patent trader. They just look for, are you familiar with the QM model called Quasimodo model essentially? It's um, are ones Quasimodo isn't either guy from, yeah, yeah, because yeah, because it looks like that. Um, it's basically a breaker block. Okay, it's the ICT breaker block. So the, so a bearish break, high a low, then they'll run on the high, and then the pinky. So it looks at the Quasimodo model, and um, people look for that without context, no higher timeframe narrative. They see it on the one-minute, five-minute, and they essentially that trading retail patterns, and they don't ever admit. And the thing with SMC guys now, they kind of bash retail. I don't bash retail. I think every SMC trader has a develop, I mean, I used to bash retail back in maybe two years.
Oh, yeah, you guys are my liquidity and my, you know, you might take profit is your stop loss, and all this malarkey, but then you kind of develop and you grow to learn. I know so many people trading SMC Concepts, the majority of Twitter right now is trading SMC Concepts, but how many win? It comes down to the executes, right? And it comes down to the thing of they think they're trading SMC, but they're not. They're just essentially trading retail patterns. That's my opinion on the matter and the SMC, right? Um, it goes a lot deeper. I, I'm a person, right? I don't ever take someone's word as Holy Grail. ICT said this. I didn't even blindly follow him when he was telling me, so I went on to do my own back testing and studies, and he was always banging on about time, his time, then price, time, and then price, the kill zones, for example, right? So you've got your London open, the New York open, but how many people even ask why is this time of day high probability and that kind of spot? Why is the Asian range the Asian range? Why does Midnight's opening price have, you know, the weight that Midnight's opening price has? If you use Midnight's opening prices, and then I done a study, and I came across a lot of things, and it's very interesting. Um, I'll show you the DM before I arrived here and also about uh, you know, settlements and clearing houses. I'll give a few clearing houses, and for the people watching this, if your smart money concept trader, this is what you want to go into because essentially it's all time-critical payments, right? There's three things that I'd want the viewers to check into, right? The first is the CLS Group, the second is the DTCC, and the third being the FED, while the FED wire being the most important, but in the DTCC you'll see the FED wire as well. They're all co-linked together. Now it's not your bank's moving price; it's not JPMorgan; it's not, you know, UBS, um, IBM; it's not these type of, you know, people, City Bank; it's not them. You have to think about their, you know, large funds. 100, I agree, they're large funds, and they have their large-level liquidity, but who are they going to clear their positions to? They're going to these clearing companies. If you look at what the FED wire is, right, the FED wire is literally a clearinghouse. It's what they're doing is this; they're the ones facilitating all of the trading and the payments from large institutions. If you just Google Fed wire, this is what comes up, and I'm sure on the Google definition it tells you one thing: it doesn't care about the price. They do it purely off of a time, like it's a, it's a timeline. This time this happens, that time this happens, whatever, and then if you go and you link these timelines, it's really, really cool. You'll start to see the pattern of London Kill Zone, this happens, New York Killzone, this happens, London's close, this happens, the Asian range to midnight, this is what's happening. It's very, very cool. Um, just a step further into it, you'll see the timeline is kind of split into two kind of portions, liquidity generation. Well, this is how I, how I've broken it down; it doesn't say like this, but there's liquidity generation because full liquidity to be delivered has to be generated, right? Liquidity generation happens from the Asian range to midnight a lot of times, and what happens, what does it mean by liquidity generation? If you look at these timelines by these settlement companies, this is where they're taken in orders, pay-ins, and there's a time on the CLS Group, I think so, and the DTCC, they have a time where they cut it off. This is what's, what's happening for this day. Now what we're on in terms of the financial system right now of the whole world, we're on something called the T+2 system. Are you familiar with T+2, T+1? So T+2 system, right? Pay-ins get given today; it will be delivered within a two-day frame, right? This is what people mean by it's priced in because what, what's happening with the delivery from today is happening from two trading days ago. It's not the weekend. The, does he now? There's also going to be a paradigm shift in 2024, and this is said on the internet, and this is kind of why I think, you know, how ICT has come back, he's come back, and he's saying I have one year to teach you guys, right? And he keeps, I don't know how if you guys keep up with him, and he keeps banging on this is the year, you don't have, this is the year, and he's kind of hinting at something, right? If you check it, and it's on, it's public, it's public knowledge. If you go on the DTCC's website, I think it's March, the 21st of March 2024, which is next month, there's going to be a change in the gross settlement, you know, it like the whole financial system, they're going to change the way they want to do, they want to do it; they want to change from T+2 from it delivering in two days to a T+1. Now there's also T+0, which is basically instant. Now they can't do T+0, made that jump from T+2 to T+0 because of um, efficiencies and the way it can damage, you know, people just aren't ready for, institutions aren't ready for it. They don't have the, you know, they have facilities and infrastructure; they haven't innovated themselves enough to handle that kind of jump, so they're going to move to a T+1. Another T+1, it has a different timeline to the T+2, so I'm assuming there's going to be some sort of change in the financial system given to T+1. It won't be large; the, it shows you the kind of times I want to move to; it's perhaps half an hour in the difference between it, maybe your kill zones will shift to 15-odd minutes or whatnot, but nonetheless, it's proven because a lot of people think SMC is just made up as an algorithm, uh, it's just a random, random algorithm that doesn't consider fundamentals or interest rates or news or anything of that sort. What if there is a document that I can share with you guys, right? And it's said, and it's a central bank that says it, it's not a secondary source material; it's a primary source material from the Swiss National Bank, and they say that the pay-ins and payouts are all delivered algorithmically by a complex algorithm. This, I don't know if this is the argument that ICT hints to, but it kind of makes sense that it can't be buying and selling pressure given these big entities are saying, right, it's all on a timeline. Price isn't relevant to them because price isn't a constant on the trial, right? Time is a constant every single day; it goes from midnight to midnight to midnight to midnight, while price grows from 101 under the XY to 102; doesn't have to come start again from the base; it can keep on going. They don't care about the price; everything is delivered swiftly on a timeline. This is what people don't consider now, if, why is this important, and I know I'm talking a lot, but it's important stuff. The reason being in science, right, every single model is, you know, repetitive, and you can make the same model essentially, right, like um, gravity in a vacuum and whatnot. The reason is because there's controls. Now if there's controls in your chart, which there is clearly is time, and we know that what happens in specific times, you could have a very repetitive trading model most days of the week. The only thing you need to align is price within the time zones. Now it's when I saw this, and this isn't from ICT's mentorship; this isn't, um, I don't know how many people were in ICT's mentorship that's watching this, uh, if you were a chartered member or whatever, you can kind of back me in the fact that he doesn't give it to you on a plate. He pushes you into that direction; he kind of talks in riddles. This is why a lot of people have their own mentorships and stuff because cuts out the fluff from ICT, accessory, straight to the point type thing, and he pushed, I was essentially pushed into that direction to find that. Now when I found this, I don't know how familiar people are, but 8:30 a.m. across a lot of markets, the currency market, indices market in UK time, uh, no, US time, 1:30 p.m. UK time, right? And you can back test this, and a lot of people on Twitter talk about the 8:30 time; there is usually a retracement into some sort of fair value gap or run on stops, and 8:30 essentially is, you'll find a lot of high-probability trade setups within the 8:30 time, give or take a 15-minute candle, so 8:15 to 8:45. That Fed wire thing we spoke about, there is an injection of liquidity that the FED wire do at 8:30 a.m. every single trading day. How is it that lines up with a high-probability trade itself? And I traded this out personally. 8:30 a.m. that time from them lands up with a high-probability technical, a lot of the time; it's, it can't be a coincidence, right? Was interesting because obviously when I trade as well, I trade purely on the technical side, and even with fundamentals, for example, because at that time, 1:30 p.m. UK time, so AP New York, yeah, not a lot of news events at that time, so you know, is that injection the news related? Is it the Fed wire, as you say? Um, this is the interesting thing about trading; this is why I sort of adopt the mentality of I don't, I just focus on the technical side, you know, I don't focus on, don't get me wrong, there's, you know, what you've presented there and discussed there can be very helpful, especially if it aids into your bias, for sure, um, but for me, you know, how you see these debates, you know, you see these debates on Twitter and online, so like we've seen, yeah, we had Rajaron saying, uh, you know, outlandish claims like SMC is, is doesn't exist, but then afterwards saying how, you know, this is how the banks trade is the bit that he doesn't agree with, for example. I totally agree with that. Banks do not trade SMC. There is not an SMC trade at, you know, a JP Morgan, for example. I don't know where this institutional stuff even came from. I think, I think it's marketing, you know, I think people start courses and they say, because even before SMC, there were courses saying, you know, we trade like the banks, you know, even if they're teaching retail, even if they're teaching people, I don't, I don't like the terms; I've never liked terms like retail, all this; I just mean there's different types of confluences, different strategies, uh, but because of marketing and because it's easier to sell something if you say, hey, this is shiny, this is new, this is the way, you know, this is how the big players and the big boys are doing it, uh, I think that's where it came from because before smart money Concepts were like kind of in the limelight, you know, these recent years, um, you know, a lot of these guys selling courses were selling what people define as retail, so you trend lines, your wedges, your flags, etc., but yet they were claiming to sell it as this is how the banks trade, you know, so I think that's where it comes from. I even, I used to have a lot of back and forth on Twitter. Right now, I'm not too active; I'm more active for more so on Telegram and Snapchat. It's just, um, I think those social medias are way easier to filter out because Snapchat, you decide your story, you want to watch on, it's where everything is just in your face. Now in this, I think from last year, the attention from trading has gone to just debating pointless things on Twitter. I mean, there's constant debate. I think it's all about, you know, can people do a healthy debate, you know, or can they, you know, do they just get too polarized? So like the issue, not that I have with ICT, for example, but the issue I think a lot of people have with ICT is simply just because people just get too associated to the man and to the, to the idea. It's very cult-like, yeah, it's coming from a chartered member that only trades ICT; it's a cult, it's a cult. I see, so when I see his posts and there's people calling him King and God and all these, it's, it's cult-like, and there's people that have his emblem in their bios and whatever. Is he's got a cult-like following, yes. Um, and it happens, though, like I respect it in one degree because at the end of the day, you know, and then I have nothing against ICT; I have never watched, I think I watched like three or four of his uh recent, I think 2022 mentorship.
Oh, yeah, but I haven't like actually watched any of his content, um, and I haven't been in his, you know, his mentorship or anything like that either, and so I, I don't, you know, I can't give a comment; I can't say that ICT is bad or good or anything. What I know is, look, he's putting a lot of information out on YouTube for free, yeah, right, over this last year in particular. I know that he's, you know, giving a lot of information, your Twitter spaces, for example, talking about psychology, etc., as well as you say, you know, the one thing I do here and even from watching those four or five videos as well, there's a lot of fluff, as you say; there's a lot of uh, rants and stuff; his own personal life gets dragged into it. Yeah, so like I hear these things, right? I also know from years and years that he just loves to, I don't know if he loves it, he must love it because he wouldn't do it otherwise, but he loves to like try and not attack, but he loves to have debates or or has like this drama with other people, right? Whether it's a guy called something Vinnie or something; it used to be Astro Effects; it was Astro Effects, yeah, and then it was Roger Banks, and it's Vinnie, then it's, there's always someone, yeah, that's what I found, and um, at the end of the day, look, if you've got time and energy for that as a, as a man with, you know, with a family, you know, fair play too, you know, um, you know, maybe, you know, he's made that much money I'm trading, he has the time to do it. I don't know, but even then it doesn't bother me, like it is, this is the thing where people get involved with these things. I never understand it when you pick sides and things and waste your energy when you're still not a consistent trader. That's where the, it gets ruined, you know, you hit the known that had the inconsistent traders wasting time on Telegram group chats and wasting time on Twitter, and a lot of people do this on Twitter as well. Twitter, you know, is it, there's two sides of Twitter: you can either be on the very hard side or the very helpful side of town. Now a lot of people what they do is this on Twitter: they'll have a hard day trading, and they'll go and post about on Twitter, and I, as brutal as it sounds, kind words and people DMing you, oh, it's okay, it's not gonna help you become better. Of course, it's nice to hear; it can be reassuring, if sometimes it's good for their mentor. I totally agree, but going there seeking attention or this might not even be seeking attention; you just might want to put out there saying, look, I'm a trader, I'll take losses, but if you're taking consistent hours and you're inconsistent, there's, don't be on Twitter posting. When I was learning, right, I was in my gap year, so I had the benefit of time; it was literally just wake up, Tesco's, study, given if I had a late shift or early shift, I would study before or after; I'd even studied in my lunch break, right? Now I was nowhere to be found on socials; I was studying minimum perhaps four hours a day, smashing it out, right? Now there's people out there, and I help people learn how to trade, and I tell them all the time, I see you on the Telegram chat for four hours a day. How can you be studying and be on the Telegram chat for four hours a day? It makes no sense because that's a thing, right? Community is good to an extent. Now what I do is I only expose people to the community I have once they've done some work because if I just put them straight in, they'll just deadest cushion, right? Community is good, but if it creates, you know, complacency and, oh, I'm just wasting time, you don't need a community. Remember, trading is a solo game. I say to all the people, all the time, if you're in a group trading, let's say it's five people, there's one person trading or four people taking a signal; there's no, there's no way you can open a trade and you're both in the exact same candle and the same idea. You may have the same setup and whatnot, but the fact that you're both finding it in the same speed, because some people first find it faster than others, the way that you're emotionally feeding to take the trade, there's no way you can have the exactly herd mentality. Exactly, it's a herd mentality; that's what I say to people, do it solo, and when you do it solo, it's hard; it's very, you know, it can be quite lonely, right? Coming from someone that done it by themselves, it was very lonely, but you will excel way faster than someone that is essentially jumping into the deep end, isn't it?
Yeah, and one thing about embracing the adversity, exactly, exactly. You have to get comfortable with the uncom, with the discomfort, right? And something with ICT as well, right? And smart money Concepts, there is a big difference between the two, right? The difference is this, um, being someone that studied ICT's materials and seen what's on the SMCs today, ICT talks a lot about narrative, a lot of the times it doesn't even point to technicals. Um, he does something called a weekly commentary, daily commentaries and stuff, and it's all about narrative. The way it was in the mentorship was he gave 12 core content, and those are lessons, and then the weekly commentaries is just the blending of all the lessons, and essentially in real-time trading, the lessons are basically useless without the weekly commentary because it shows you how to use it essentially; it's like the cement between bricks. Okay, yeah. Now a lot of people what they do is this, they learn, and I was very guilty of doing this as well, look for the keywords, order block, imbalance, okay, this is audible, this is imbalance, I've got the Holy Grail, now, and they'll go and do it, but they don't understand where ICT excels is understanding the narrative, right? Knowing is the daily likely to point towards higher prices or lower prices; this is whereas this is where you should start from. If you can sieve out a bias, you should only trade in line with that bias because in a five-minute timeframe, it's going to look like it's offering both sides of the day, but if you look at
The daily candle, the expansion is probably going to favor one side. Now you can serve out whether that daily count is going to favor one side, and this is what ICT says, right? But these are the things that SMC people don't talk about. They don't touch on the narrative; they don't touch on the higher timeframe analysis. They only just teach you, and essentially, why it works, because you have to think about human psychology. You know, when we look at videos—and I was guilty, as like, you know, for this myself, right—we're looking for the most, you know, appealing video to watch. Oh, this one has a nice model and a rectangle candle that I can just watch, compared to a one-hour lecture. Yeah, it's going to be way more appealing to watch, but how good is it for you? It's going to trap you into this short-term mindset.
Like I get the question every single day, right? Which order block do I use? Which fair value gap do I use? What do I do? I get sent charts, right, of the five-minute timeframe, and I tell people, what use is this five-minute timeframe without the idea of, you know, perhaps a four-hour or one-hour, a day without context? Exactly. You're just taking a trade without context. And I say to people all the time, if you have a daily bias—and one thing that really, like, does man, not even with SMC traders—is the super tight stop losses, because these things, it's not even taught by uh ICT in any in any video. He always kind of says, make your stop loss safe. The way I see a stop loss is this: it's an invalidation level, right? Yeah, it's simply just invalidation. At that point, you just want to get out.
Now, on a funded account, um, let's say I have a 300K fund that I come with, MFF one that comes to 300K, right? I'm not putting one percent risk on a two-pip stop loss because they can open spreads up, and I could get slipped on a two-pip stop loss. Yeah, a safe stop loss and a take profit that's going to get hit more times than not with an entry that should reverse in your favor, retail SMC or not. Do that for long enough, you still—that's it—it's consistency, isn't it? You know, yes, the objective is obviously to be profitable. It doesn't—I know a lot of emphasis is on risk to reward and small stops and lower timeframes, and I think that's where a lot of the sort of uh attention has been brought to, especially over recent years. I think there is a slightly better narrative coming along now. I think there's a lot of people who probably spent time and built experience in SMC now for a few years to have learned those lessons, and they're becoming a bit more vocal, you know, whether they're on Twitter or Instagram or whatever. So, you know, people, hopefully, if they come across these people and listen to them, then the narrative is changing slightly, things like this podcast, you know.
But yeah, there's a huge problem with people just getting sucked into those lower timeframes, a lack of context trading confluences, you know, and as you say, when people watch videos, they'll watch a video, and and they'll see your videos an hour where instead, if they watch like just a commentary, you know, thinking, uh, he's talking about the markets for example, or a forecast, you know, or case study—these are things direct straight to the end, you know, rather than the beginning. And I think probably people get put off and start to hate ICT, for example, because the video might be an hour and a half, and there might be some rants in there, um, that they then feel resentment because they don't want to watch an hour and a half video; they wouldn't want to put in that effort and time, you know. And I think as well, a lot of the video is a lot of is waffle, and now he says it's on purpose. Is it on purpose? I just think this is nature, right? By the sounds of it, it sounds like his personality. I have an encore that just talks, and he'll tell a story, right? And the story, I don't know if it's done or if he's getting to the point, it's just I'm just—it just goes, yeah, this is good, right? Some people just love the sound of their own voice. In a way, it's just their nature, isn't it? And I think ICT falls into that. Academy just loves you. I think was as equally equals it jaw-burning, just talking a lot. He even has a template. That's it; that's fine.
But in terms of your journey then, so you know, we talked about clearinghouses. So from my, you know, I haven't done deep research to be honest with you. I'm probably guilty myself of uh just sort of learning technicals, you know, just spending time learning technicals, but to be honest, the deep research just comes to me as a person. Yeah, I just—I'll always, if someone tells me something, okay, I'll I'll do my own due diligence before I'm not going to say you're wrong. I'm—that's arrogance. I would never do that; that's ignorance. How to go and do my own research. Now, it's what it does for me is it just gives me comfort in knowing the way I trade; the emphasis I have on time is going to—it's, you know, it's real; it's not just a man telling me online, yeah, that these things happen and this and that, you know, these things are real. Is there's real things that you can go online and research. The things was the CLS group, the DTCC, and Fedwire. You can, in terms of clearinghouses then, is that where these orders are going to—is that what you're getting at? So like you have the institutions, you have the hedge funds, but for them to place their orders, they don't place it themselves; they place it over—at least people think it's JP Morgan making the market, yeah, and they're doing it for their high-value clients and then move the money around. Who did it go to? Do it. JP Morgan don't do it. Remember, it's a central bank who owns a currency. Um, so I studied economics, and I tutor economics, and the role of a central bank is to create forward markets. This is that—this is a role of the central bank. Now, the DTCC and the Fedwire is literally the Federal Reserve, right? They work; they coexist with the central bank. They have access to the central bank's liquidity, and they're facilitating the trade, the payments from—so I'll give you an example. There's um entity A and entity B, and they want to make a payment from US dollars to Euros. Now what they act as is essentially like an escrow, right? They go and they do it, and the DTCC is given the payments to payment on the T+2 system, right? So within two days, they're going to go and receive it. Now this is where—okay, why is this useful? Why does it matter, right? Because people think, okay, this might—this might just be saying a lot of words. Why it's important is how is it delivered? Is it algorithmically, or is it random buying or selling pressure by big funds? This is the importance. Now it says it's algorithmically delivered. Now ICT is claiming to show you the signatures of algorithmic delivery at these specific times. Now you care about—and all that care about is—I don't care if you know there is a mega algorithm. I think there is, for efficiency reasons. I don't think it'll be over-the-counter normal. We're just at that stage of the world where it won't be, right? I care about the delivery; I don't care about who's doing it. I just care about the delivery because if there is signatures where it shows it's going to reprice, you know, sell models and buy models, that's what I need to be profitable. That's it. I care about how is it being delivered; I don't care who's delivering it. Is there a signature in knowing when, how it's going to be delivered? You know, institutional overflow, entry jobs, these type of things—that's what I care about to know. That's it; that's the framework that I'm trying to work in, simply.
So based off that then, so you have this knowledge, right, and you have this understanding in terms of potentially being algorithmically um delivered, but then do you then, off the back of that, have your specific entry drills that you then obviously utilize? Data definitely. And by the way, with the algorithm, it's not 100%; of course, there's going to be some sort of skewness, and even ICT says it does go into a state of manual intervention, right? Um, I'm just by no means an ICT maxi; it's just me taking from what I've studied myself. Now, in terms of my framework, are you familiar with power of three accumulation manipulation? Yeah, that's what I do every single day. So if I'm expecting a bullish day from the opening price, I want to see accumulation beforehand in the Asian range, preferably. The accumulation could go into London, actually New York, and non-close specifically. Oh, that's—that's where uh that's my niche in trading, right? Um, in New York, I'll even look for a simple continuation or if a point of interest is it, I'll try and frame a reversal trade, uh, given whatever I am in the power of three model. It's always a power of three on the daily, the daily candle, so I'm just open, low, high, close. So let's say it's a bullish day; the bullish candle was most likely to open, make the low, then the high, and then close near the high, right? So I'm waiting for manipulation to the low and seeing confirmation that we're about to expand to make the opposing end of the range, and I'll just—once I have that framework—and this is what people do, they overcomplicate the entry. I need this very value lined up with this order block at this time of day with an optimal trade entry on the fit. All you need to know is this: where is price right now? Where has it come from? Where is it likely to expand to? Where is price likely to go in this job that I'm looking at? A simple retracement entry with a safe stop loss, target where price is likely to go, rinse and repeat that every single day. I don't know if you complicated it; you don't need this ultra 10-pip uh fire pit, three-pip stop loss. I usually have a two to one, max four to one risk to reward ratio. Four to one, I barely get—I'll use it. So rather than fixed risks to reward, it's more, where does it make sense for prices exactly? My take profit is in a place where price should smash essentially, right? So it's uh if I'm bullish, I'm going to put a price inefficiency, like an imbalance, right? Now if that's a two to one, I'll take a two to one; if it's a 1.8 to one, I'll take a 1.8 to one; if it's a if it's a five to one, it's a good day for me; I'm going to go and try to get the five to one. I don't have a fixed—all because I fixed all, right? People just like to stretch that TP because they want to chase money. Now is that take profit likely to get swerved, and how long do you want to be in that trade? Because as a trader, and I'm from experience, even now, if a trade is open and I'm a scalper, right, I won't even eat until that trade is—I'm just fixated. Yeah, I'm just too fixated on it. So it does good for your mental health as well if um you put a reasonable take profit because it gets hit; you can go about your day.
I'm simple. Well, sometimes it depends on obviously the type of entry I'd imagine because I use fixed uh, for example, uh, but it's based on the fact that my overall—so that that fixed R will be well within, you know, if it needed to break structure, needed to make new highs, needed to take liquidity and keep going, then obviously I'd reduce it or not take the trade. Um, but yeah, no, it makes sense obviously if you're forcing, and uh, I never agree with that, don't I? I've seen people where they do that as well, where they forcibly try and get a one to five, for example, and that one to five has to break structure, keep going, keep going, keep going. Yeah, you know, and it's way off, right? There is a way less likely chance of it hitting, but yeah, they'll keep it there for the sake of the Viva. So yeah, no, I couldn't agree more. But in terms of your journey then, so obviously started quite young, and as you said, you uh took a gap year as well. Obviously, did you get any resistance from family in terms of the gap year and trading?
Um, it was very tough. So um, in school, you're familiar with the UK system, yeah, right? Yeah. So sixth form is uh two years, yeah, year 12, year 13. Um, 100%, I was always pretty bright in school, but I was very troublesome. I used to have um some friends and just recently just used to muck around in school. In year 12, I was predicted threes. I done um mathematics, economics, and business, and it's quite—it's a crazy story. In year 13, I switched it on because I have older brothers; school wasn't for them as well, and I'm the middle one, and um no one in my my family ever made it to university, and I have pressure because I have a cousin, right, and now he's graduated from Oxford with a PPE degree, which is like the most prestigious degree that you can get from Oxford, right? So obviously it's like a family comparison, or how is he doing, whatever, uh, and you're—you know, I turned it around, and I got um the highest grades in my year. Incredible. And it was—it was pretty crazy, but it's deeper than that. What it showed was is this: when I put my mind down and I used the brain that God gifted me, I could make things work. And it's that—it's that knowing, you see, school, and I tell people this all the time: school is just deeper than your grades, because it teaches you that if you're consistent, studying at the right things, and you're determined, you can get it done. Now you can take that same hard work from school and apply it to every facet of your life. If it's in the gym, financial goals, whatever it is, you can apply that to all facets of your life.
Now I took a gap year because um with the three used predictions, you can't really do much in terms of apply to universities, and this is where it got hard, right? Um, so I could pretty much apply everywhere with the grades I've got, right? I got an A* in two As. Now my mind at this point was this: Oxford, Oxford, Oxford, because my cousin, right? So I applied to Oxford. Um, if you don't know what Oxford University is, um kind of a pretty prestigious university, and um inside the Stanford is like the MIT at the top of uh, you know, of the UK, right? Now with uh Oxford, it's a bit different to this applying and getting them. So applied to Oxford; I didn't do Cambridge, UCL, Kings College, Queen Mary, and uh I think LSE. I've got replies from all of them. Uh, Oxford, they make you do tests and exams, yeah, so it's like a private school type thing. So I done the exam, and my um my secretary school paid for it, and then the interview, and um I smashed, and I got the offer, but one condition of Oxford is this: you have to live out; you can't do remote study, adults. And I didn't want to take a um maintenance loan; I didn't want to do that. My mom was against, like, you know, whatever, but then my mom kind of said, but it's Oxford, yeah, and I said, I can't do that, Mom, like it was for people almost for economic management in Oxford, and it was really hard for me, bro. It was so hard. I—is people might think I'm like, well, I declined Oxford. I—I saw it, and at this point I was in my gap year, and I was really fixated on trading because I was seeing progression fast. I was—I like to say I'm academically ahead of the curve, and it's just like that in life, if you know you are, like, take advantage of what you got. I was getting this trading thing very fast. I was every single day seeing progression and saying, I think price is going to go here from where it is right now, and boom, it's doing it, or my demo account is doing it. This is inside of ICT's mentorship, right? Now, instead of going for Oxford, um, I went to King's College. I'm still at King's College; I'm in my last year now, and I'm studying accounting and finance instead. I'm not the best in terms of studying because I can't shift my focus to studying that much. I have a few other things other than trading as well. Um, it's a bit tough, uh, but yeah, um I don't want to drop out because I just want to finish it just for myself, and I'll be the first person in my family to kind of do university.
In terms of trading, um, when I told Mom, I don't—there's one point I said, I don't even want to go uni at all. I can have a lot of conversation with my mom. I'm kind of blessed, like I'm Asian. I know like not a lot of people can have conversation with their parents; they're really fixated on university. My dad is a complete opposite. Um, I came—my dad out of the loop of it, on if I'm all honest. I just tell him I'm in uni, whatnot, and um my mama said, um, I don't want to go; you don't do this trading thing, and she was like, don't believe in it; she don't believe in it at all. Now at one point, I blew a big account, not funded account; I was trading a personal account. Now I was working in Tesco's, and it took me like—it took me like five months to save up this money, and it was really dumb because it was every penny I had; it was four thousand pounds, which is a lot of money to me, like even now, 100%, it's a lot of money, four thousand pounds. Four thousand pounds with—at like 19, 20, uh, is a lot of money, and especially when you've worked five, six months; it's everything you got. Yeah, did you have no other savings? And there's everything I had; nothing. I put that all into an IC Markets account, and um, bro, it's so crazy; it was GBP JPY, and this—I have PTSD with JPY, yeah, and then I had a swing trade, and I was in good profit for—the account was from 4K. Now the risk management was pretty poor; it was like five percent risk per trade. I flipped that account to 16K from—and it was all in profit; it was a permitted trade, right? So it's this trade is still going, and this is Brexit time for the UK, so you can imagine Brexit and GB—oh, when all the volatility was going on, Boris was in charge at this time as well. Um, one day I remember, like, if you show me the chart, I can show you the weekly candle of it; it was in August, August, uh, three years ago in August, and my account got deleted in a day. I remember I was at Tesco, and every single day I was like, I'm gonna leave here, man, like I made the money, like I'm like 16K up, like this is a lot of money. I can one percent—one percent is going to be 200 pounds now, like I'm making—I've done it, and um on the bus home from Tesco, I see it's a bit of—it's going—it's eating into my profits. I go home, right, and I'm on a PlayStation party with my friends playing Call of Duty, and I see my account just read—I removed the stop losses because I thought uh they will turn around, just run on stops, right? It's gotta just to be a shakeout type thing. And my account went from zero—from 4K to 17K to zero, all in a span of like a month, and I was defeated. I gave up trading for a bit at this point, if I'm honest. I was like, I can't—I can't stomach that. I was—I was literally depressed, and this—I'm saying this openly to you guys now; it's nothing, right? It's part of the journey, whatever. About the time, obviously, in that moment, manage your risk because you enter dark places in your life. I don't want anyone to ever experience what I experienced at that point, like I was sleeping and waking up and wishing for nighttime so I can just get another day over and done without sleep. Yeah, I was proper like in my feelings, and then I kind of shrugged it off, and one day, like I say all the time, time is the healer of everything, right? You'll get over it. A few months down the line, I remember it so clearly; I was just brushing my teeth with myself tomorrow. I was like, you know what, give it a go again, like you're good. You know what it is; it's just your risk management sucked at that point. I gave it a go.
What do you think it was though, you know? So it's 4K, and you'd saved up obviously for five months. Was it just the—how old are we at the time? Maybe 19, 20? I was 19. Yeah, so was it just the the realization that this could, you know, allow me to do certain things? Did you have a certain image that you wanted? Once I saw that account, and that was real money, 17K, I said, this—you will close that. I tasted it; I was at the—you know, when you're at the doorstep of the bakery and you can smell it, but you're just not inside—that was me; I was smelling it; I just didn't get to taste it properly, and then I gave it a novel go, and Alhamdulillah, it's been only upwards since. Um, funded max with MFF, I was even featured on an interview with MFF on YouTube um last year, done quite a lot on funded accounts in general uh this year. Um, I'm trying to actually expand; I have spoken to a few people about other types of capital; it's going well; uh, well, they're still funded capital as well. Trying to—I'm trying to go for one with a leaderboard this year. I think, you know, again, a leaderboard will be a bit—a bit cool, bragging rights.
What do you think about that though? So like, for me, I don't really, you know, in leaderboards wise, I think it's like uh it's all there to blow your account, I think. So yeah, I think people, you know, it's because I've met people where they said, oh, my goal—and they're not consistent, yeah, right? So not even consistent yet, not even funded yet, but they go, my goal is to get back-to-back three months on the leaderboard, and I'm like, how's that your first goal? Like, why is that the first thing you say in terms of your goal when you're not consistent, you're not even funded, but yet your goal is to get funded, apparently, past funding, yeah, and get three back-to-back, yeah, when in reality, if you look at their stats, everyone who gets on that leaderboard blows their account the next month. It's very true, and um if you look at a stats, it's even worse; they don't even make it to the first payoff, let alone the leaderboard. And exactly, I'll tell you straight: this whole VIP MFF, right, this whole 14 days uh bi-weekly payout, it's all there to blow your account. I thought—I don't know if the platforms gonna like this—it's there to make you trade faster, yeah, because now, right, so MFF and I—so I help people trade, right, and I told them that when you pass the first month, you have to trade a month. What you're gonna do is this: make one or two percent of your account and sit on that account, do your minimum trading is, and get your refund. Once you got your refund, and investment-wise, it's you're risk-free, right? You're risk-free, and whatever, if you lost that account, and it might hurt financially, you're okay; you probably make profit on an ROI basis, right? Yeah. Now what people do is this: they see, okay, now I get paid every 14 days, 10 days plus I'm drawdown, but I get payout in four days; let me just go risk. If you don't get it to one person, if you missed that 14 days, it doesn't mean that you cannot then go and make more profit, right? You can go and wait till 15, 16, 17 days; you can still get paid out then. There's way two months; I don't think there's a rule, right? Exactly. I told people all the time this year, let's—
Say you go 100K. Come now, let's say you're on a two to three percent drawdown. You have as long as you need to get out of the drawdown. How much longer is it to blow their account and pass another one? It's way longer than if you trade with your head screwed on. Get out of the drawdown. Like, drawdowns aren't going to be, get out of fast. This is the thing, right? Um, I told people when I apply something called a dynamic risk profile, right? This is how I trade. From the initial, I risk one percent. Now, if I make a buffer of, let's say, four percent, I'll increase it to 1.5 because now if I take a loss, it doesn't hurt, and if I win, my win is this bigger, right? But when I'm in drawdown, you enter a danger territory automatically; you're endangered, you're in the danger zone. The reason being is because your account's under balance, and now your tilt kind of creeps into you, as in the stress of a trader, right? No one likes to see red, or under, you know, when you're on 100K, it goes to like 99K. That little shave of the digits, it comes down lower. Yeah, it's a bit, it gets to all of us, right? Some people manage it better than others. Stuff takes time. Again, I'll draw that, reduce the risk and get out of the drawdown, and then see like this, right?
Trading at four percent of your account is a luxury, to kind of have a special funded account where you have drawdowns, right? This is what people don't realize, and this is the thing of, um, this is why you can't be a trader in only three months or four months. I told people all the time, you want to be a trader? You go submit to the time of development. I can teach you all the technicals you want in three months. I can teach you every single technical in possibly two months, right? But I can't help you develop alongside those things. Time can only do that. Experience is the best teacher, after the person that's teaching your technicals and whatnot, exactly your development as a trader, learning your framework. My older brother, right? I can teach him the exit; I can teach him a market maker song. Can he go and do it every single day? Probably not. Could he draw on paper for you and, you know, draw a chart and then post it onto it and with all the parts and make it look like he's someone that's, you know, knowledgeable? 100, you can. But how many people can execute alongside it? That's what matters. It doesn't matter how many buzzwords you know. A lot of people are big on buzzwords. Yeah, he knows all of this, and a lot of people what they do is this: they get a concept, something that already exists, spin it the tiniest bit, and then slap on a new tire, a new label, put this new thing, and it's again going back to what we said before; it's just a, it's a marketing gimmick, just goes around in circles. Yeah.
So, in terms of like the MFF, for example, I watched your, uh, briefly watched your interview, and I saw that, you know, you had 300K. You went up, I think you got a withdrawal for like 3-4K, and then you had this one big trade as well, like 27K. Oh yeah, that was a massive trade. So, like, with that, you had obviously smaller trades, and you had this one big one, and then from 27, I think you ended up with like 33 something like that, and then withdrew. So, was that like a, a higher risk trade, or what? Happened is this, right? I say all the time, um, I've done combat sports before, right? Just keep jamming at your guy; a big tree is going to come, right? Now, this is, and I'll tell you honestly, that's what I do from experience, and if people say this is poor risk management, you can say what you want, but this is what I do. That trade, I remember it was a market maker buy model on a Euro USD or GBP USD, I think a GBP USD. Now, if I see price, it's displacing, like it's going ham towards my take profit, and I look, and there is like a lot of upside targets, right? I'm gonna ruin my take profit, and I'm gonna manually look to close it out, right? The stop loss doesn't get removed at all; nothing. I'm never removing a stop loss; the risk is the risk on the trade, but I'm removing the take profit, and it's fine because I'm manually there, right? I'm removing the take profit because I'm letting my runner run, essentially; that's what I'm doing, right? Now, even think about where I could have let it run, but it's all could have, would have, should have, and I let that one run. Now, the ones before, they probably just weren't runners; they were just, you know, and I say that all the time, yes, it was luck, but was it prepared luck? Definitely, because what I'm doing is this: I'm setting my account up, and I'm trading smart. I'm not blowing my account on these small, dumb trades, and my account is going to experience these. Everyone has a trophy trade, right? And the only way you get to experience is this, right? For example, I tell people all the time, if the daily chart is unclear, wait for a few days to pass. The reason being is you're going to see a lot of opportunity you probably play out, and you don't want to burn your account out inside the concept, inside the consolidation. You're gonna wait for a clear trading environment. Yeah, and that's where patience pays. I say all the time, give up three days of trading for two weeks of bias. These things are big things to consider, and this is only what experience can teach you, because trading outside of consolidation, some people might have an edge in that; that's not my edge, right? I don't knock it; if you want to do it, you can do it, right? That big trade compared to the small ones, there was just a matter of fact of, it was just a trophy trade, um, and that wasn't even the biggest trade I had, by the way. I've had bigger payouts than that one; it's just they just decided the way they do it is this, um, on the month given, you were like one of the top three, they'll do it. So, just for that month, though, I was, I think the top three; that's what MFF do. I believe they probably just pick whoever's got a big one. Yeah, yeah, that sounds good; it's good for them. I think all of them do. Yeah, we'll do that, um, that's what they need, you know. Yeah, but, um, but yeah, it sounds good.
And then, in terms of the profit, then, you know, because you're very young, and especially because you had a 4K account, which went to 17 and blew it, now you made 33 on one trade, uh, what was that like, you know, well, not what a 33 on one trade, but a 33K payout, what was that like for you? Oh, that was, you know, so, you know, like, um, it was, it was kind of surreal because I'd done it for Deel, um, and, um, so the way Deel works is when you get paid to bank, it's not paid to your bank, you don't put your shortcut account on what they don't pay; it's like Deel, Deel's like a PayPal, um, then you link your card to Deel, and then they get automatically transferred if you have that stuff, which I do. When I saw, um, after the conversion was like 30K-ish, and when I saw that landed tomorrow, so I woke up and I saw the Barclays notification, you've been paid uh, x amount into your bank account. Hours at home, I did. I tell my bank account, I was like, oh, that's, that's pretty, it's, you know, it was sick. Um, what did I do with it? Um, I told people all the time, your trading money is just income, because you make your trading profit is not guaranteed a month for month. This is what you have to realize; it's a trader. I had a big month; I even then had drawdown, right? Um, I had a 40K payout afterwards. In August, July was tough for me; July was in drawdown, and I had to trade out the drawdown, and I showed people it like, look, I was in a drawdown; I made 960 pounds at the end of July, I think. Come August, I was hitting, I think I had eight back-to-back winners, and then I took a loss, and I was like, cool, I'll just, I'll just take what I have, and then I took that one, and now it's just, I always go for like a few percent a month, because the account says I have a few percent a month is more than, more than any job is going to pay me, especially at this age, this age, right? And this is no way in a bragging, right? I'm just showing you guys the power of funded accounts and trading, the skill of trading I made in one, in just my one year's, or pays out, like payouts, right? I've surpassed what my peers in school, right? They graduate, five years of their work, I'm five years ahead of the curve just because of that, and it's all about identifying it from a young age. Some people are blessed with it; some people aren't. 25, if you're 25 and watching this, 25 is by no means a young age, old age, sorry, 25, even 30, like life, I feel old, like 21. It's always a thing of like, um, I wish I'd done it, I could say I wish I'd done it at 19, I wish I don't know, 18; it's all just, it's, it's worth it. Yeah.
Um, in terms of how it felt when I was getting paid out of these amounts, I was surreal; like, it's crazy, like, you know, like, I can't, it felt kind of strange. Making the time, do you feel like this? Not imposter syndrome, but I remember when I got my first payout, especially after taking heavy losses, uh, I remember it was like, I felt like when this big win would come that life would change, you know? So, did it feel different for you, or did life just go on? So, I'm a big eater; I love to eat food. Now, I can go to a restaurant and just, so I went to a restaurant the other day, and I never got T-bone steak, I got a T-bone steak; it was so big, I never finished it. Um, I can just, you know, wake up, and I don't have to worry about, when I was at Tesco's, it was money, my, I was pinching pennies; I was like, I couldn't eat, like, spending even 10 pounds would, I'd have to think about it. Now, I have the luxury of just, I can do it, just eat for 15 pounds, and to me, that people, I think 50 pounds, this guy's getting 4K pale, where I come from, it's a big jump, and it's the time, like it happened so quickly when I was, um, you know, like, not profitable and not making money, just relying off my job and stuff. I was also tutoring, attitude, uh, economics, funny enough, Australian economics for the school that I went to. They wanted to come back and trio, and, um, the money wasn't there, of course. I'll just, you know, even go to Nando's, right, at night was like a treat to me, but now it's like, you can have a nice breakfast, lunch, and dinner; it's, it's not really a big deal. Yeah, nothing's changed, man; it's crazy. Life will just flip on its head, but you know, it's, people only see the tip of the iceberg, essentially. To get here was a wrestle; the wrestle was how many times I doubted myself, was crazy. I doubt myself, and I told you I was open, I need to quit. I did quit for like three months; I didn't even look at a truck; I was just working Tesco; I was considering, you know, like, going hard with the uni thing, whatever. If I didn't do that, I said to, and I think I saw you something, uh, of yours, I follow your tweets all the time on Twitter, and I say the same thing, and I said to the people that I helped trade as well, I said, um, if you could write a letter to your old self, and three is time, would you thank them? So, as like I said to myself all the time, if I wrote a letter to 18-year-old Omar, I would tell him, I love you, thank you for what you've done; our life is better now because of what you're doing now. If you're still 21, think about when you're 25, can you thank the 21-year-old form of yourself? This is how you be proud of you, exactly; that's how it is, how you have to do it. Being a good trader, I'm being sued outside of trading; they coexist together. You have to have your life sorted out, of course, all your trading to be, I say all the time, the person off the chart, it really helps the person on the chart. You can't be someone that's, you know, intoxicated and going out partying every single day. When I see people, you know, these marketers online, and I see they're always, you know, clubbing on yachts 24/7, it's not like they work and then work hard, play hard; they're just play hard; that's it. Um, you should really raise an eyebrow, red flag, yes, a really big red flag, because how can you be doing all these things and then have a laser-like focus? It's very, very clear to see who's, you know, actually, you know, a trader. There's a big distinction between a marketer and a trader, because marketing is very profitable as well, right? Trading is difficult, but it's also just as rewarding as well, and you see which ones the ears are route to take, isn't it? Exactly. Yeah, no, exactly, and it's very, very true, and I try to highlight that fact as well, but you know how people are; they, yeah. You see these services about passing funded accounts; I think it's, uh, it's easy money for the people doing it, especially if they can pass it off, especially, I think now it's like higher time frame trading, that's the high-frequency trading, sorry, um, and you know, a lot of prop firms obviously shutting that down, not allowing it, so obviously that's going to go, but, uh, it doesn't make a difference because the person might get the funded account, and if they're lucky, they might get to the, the refund stage and get one payout, but overall they'll lose, and they'll just do it again. Yeah, so all they're essentially doing is going to pay for, they're just adding an extra buy-in, right? So, they're paying for the, yeah, they're buying the challenge, and then they have to pay this other person, right? And in the end, they're still going to lose it because they haven't proven themselves. You know, I understand why, because you think that if I just avoid the challenge of verification, I'll keep the funded, but the reality is, if you can't pass that challenge of verification, it's there for a reason; it's called verification. Yeah, exactly, to verify if you can trade and you deserve the account. Exactly, exactly.
Now, in terms of, we're coming towards the end, so we're gonna do quick-fire questions, uh, so we have a decent amount of time for that. So, we've talked about Clearinghouse, where we talked about our, right, and, uh, price delivery. So, when you hear people say, you know, SMC doesn't work, you know, and there's no algorithm, what are your thoughts? Study more. I think, you know, simply study more, because there is a lot of people out there, and they're sharing, I have even live videos of myself trading, and it's on my Twitter, always on my Telegram, like, it's live, it's there, it's quoting price before it happens; it's not like ICTs, but it's still, you know, it's consistent, and I've done it for a few days in a row just to show it's not luck, right? Do I, can I do it every day? No, I can't do every day because not every day is high probability. For the people that saying the SSC doesn't work, it's the executor of the system, right? The technicals definitely work; you can see there's plenty of proof that it works; there's without a doubt, it works. Yes, you know, and I'd say it's this: it's more logical to take the, it's efficiently an algorithm you get delivered over a random buying and selling pressure, because if it was running random buying and selling pressure, so many, so many fallacies open up to that. So, the Central Bank don't have full governance over their currency, which they own, right? They own it, right? You see, when people say JPMorgan makes the price of the currency and whatnot, JP Morgan is like this: it's like Nike and they're like Foot Asylum; who decides the price for Phonak? It's Nike. Nike is at the Central Bank; they're deciding the price; they're just an outlet giving it, right? But the actual price of it is being delivered by the person who, who creates it; it's the central bank; that's why I say it to people all the time. Hello. I think a lot of people can take note from what you just said there.
Now, in terms of your age, right, uh, and doing what you've done and achieved, but during that process of, you know, saving money, working, kind of being outside the norm because you took the gap year and went and did the job instead, and trying out trading, no doubt, you know, your people around you, you know, maybe friends, even, uh, they probably would have thought, what's he doing, you know? What's he doing? What's he doing his job? What was it like in your mindset, wise? I never, I have friends, and they've never asked me about trading, will help them trade ever. I have older brothers; they don't trade, um, they just think it's not for everyone. The money, you have to have a passion for it. Me, I love it; all I do is I help trade, or I teach, oh, I trade myself, right? That's what I do every single day, um, nothing's really changed around that; it's not like I have a good set of friends; my friends have been my friends since childhood, Incredibles, year seven; there's been no new, I don't really, I'm kind of an introvert; I don't really leave my house too much, um, so yeah, meeting new people, I've met trader friends online, but they're like at a similar level, so it's not like, oh, I'm jealous of him, whatever; it's everyone's, you know, everyone's happy; I want to grow together. Yeah, that's good. And, uh, in terms of, uh, coming out to Dubai, so you're here, and it's the first time in Dubai. Yeah, first time traveling in general. Yeah. What do you think? Awesome, man. I don't even want to go back to the UK; I don't even want to go back to the UK. It's so different; everything is about 2 AM here; everything is open; the food is amazing, um, the weather is even better; the hospitality is second to none. It's your first time traveling. Yeah, in general. Yeah, yeah. So, what's that like, you know, obviously you're quite young; is it opening the horizon? Yeah, it was opening the horizon; it definitely broadens my mind, like it's a big motivational factor for me as well, like I see all these big buildings; I'm thinking like, oh, imagine having an apartment at the top there, um, the apartment I'm at right now is pretty nice; I'm thinking, you know, this could be a reality if I wanted to. The UK is just dull. It's good. No, it's good to hear because I always say to people, you know, yeah, a lot of people say when you're young, you enjoy yourself. One thing I do say to people is try to travel when you're young because you've got less responsibilities; it's much easier when you're, especially if you don't have a partner, especially if you don't have kids, of course. Yeah, so it's much easier to do, and as you say, you learn so much, and it opens your horizons to what's out there, and it's a very motivating factor, so I'm glad to hear that you started that now as well. Um, one question I do get a lot in terms of asking people is one of those like generic types, which is like, if you lost everything, if everyone was to go back to zero, we had to start again, what would be your advice to yourself, or what would you do? I say this to people all the time as well. I say to people all the time, the money and the way you've made your money, if you lost it all, could you run it up? Can you run it up again? And trading is a school; you can because I thought about this, right? And I told people all the time, like, because my beauty was simply like this: from Tesco, save our money, funded account, over time, snowball; I didn't start from a big account, right? Um, a 20K account, I'll put into easy perspective like this, right? If I lost everything I could, and I told you straight, I earned 550 pounds every single month working a 14-hour contract at Tesco's; it was a two-day weekend. If I did overtime, which I did, a 700-800 pound, I'll go and buy a 20K account. Now, if I make three to four percent, which I could, given me now, if I lost it all, now I can trade; I could make that three to four percent, and that's not crazy; three to four percent a month, doable; that's one percent a week, right? That doubles if I add that with my wage, because I'm just working the weekend, and I say to people all the time, if you're young and you're trading part-time, drops the best because it, especially a weekend job where it doesn't kind of interrupt your trading throughout the week, it's the best because then you can watch all the sessions, I wanna, when you get to a nine-to-five and you know, the shackles are kind of getting to you, is very, very tough, because how do you monitor charts in your nine-to-five? Do you have the time and whatnot? And simply just buy a 20K account, or if I could afford a 50K account now, three percent on the 20K count is going to be around 500 pounds after the splits and FX exchanges to my Deel account; that's, I've automatically doubled my net worth, yep, from Tesco. Now, what do I do? Go about another one, go buy another one. Now, all it boils down to is this: do you have the patience to stick to the plan? How many people have the patience? And this is where get-rich-quick comes in, right? Because you can take an overlapping trade, and you'll kind of set yourself down, blow the account; you're back to square one. It's all about incremental; it's at the gym, um, like you go to the gym; I can tell, uh, I was getting there when you look in the mirror after just your first session; you don't look crazy, especially when you just start, but month on month, you start to see, okay, I'm shredding; I'm getting a bit bigger; I'm getting stronger; your strength gains are going to be very noticeable. Does gym and the, and trading, go exactly? Handle only differences; one is the gym, and one is trading, right? You don't get hensch in a day, just like you don't become a trader in a day; incrementally keep increasing it. Now, if, what happens if you just go into the gym and just do a one-rep max every single day? You're gonna break your back or break your shoulders. If you go in and risk your entire account every single day, it's a, it's a pipe, it's a pipe dream; one trade away from blurry network; that's, that's my advice. Definitely. No, I think it's a very valid advice, and people can take away a lot from it. So, last question here, and then we're going to finish up. So, money management, it sounds like you have a very, uh, clued on in terms of money management; obviously, you said you study, you know, accountancy and finance; is that what's been helpful? Did you outsource, or what, like, in general, money management? Yeah, for myself. Some people just have a benefit of myself; you live a harder financial life, and you just kind of get these things through life's natural, okay, the natural course of life. So, when I was at Tesco, I'm using the same thing, just a different size of money. Now, basically, I can spend this much; I couldn't do this much, whatever it is, okay? That's literally all it is; is the money management doesn't change; you can, of course, I can be a bit more, you know, overzealous with my spending; I can buy myself nicer things, but it's all percentage-wise. How do you control it? Is that how you break it into percentages? So, what I do is this: I try to save as much as I can because I have big dreams; I want to make big investments in Central and one, like, I just want to make loads of big investments, right? So, I try to live a mediocre, I'm 21, right? 25, if I keep going.
I'll be very, very, you know, in a very good spot, right? Definitely 21 right now. A lot of people get, when you're new to money, it's very easy to blow it. And I listen to people, and I actually have friends, right, and I speak to someone, and he's actually like, he's very done very well in crypto, and he tells me, "Don't do what I've done. Don't go travel the world. Don't—I don't even—I'm not a party person, so that's all good and stuff." He's like, "Don't buy a big car. Be careful with your taxes." This is why I'm in the Bible, because funded accounts, by the way, they're not capital gains tax, they are Income Tax. You get invoiced into your do account in the UK, that's a 45, or if given that you're making good money account, so come to Dubai, you know, if you can get some sort of residency here, it's about a zero percent taxes, if it's a corpus, nine percent now I believe. Um, yeah, that's that's literally it. I love it. I love it. And a lot of people can take note. Once again, I don't, I don't, you know, not people that want a big car on these type of things, you know. I, I say if you have the money, do it, because the thing is, you can drive your car every single day, and it's going to remind you four nights, do those type of things, right? Is my fun big cause and stuff. No, I have a pretty boring type thing. I'd rather just enjoy myself, not have to ever worry about a bill being paid. I want to make sure that my mom—I'm just embracing the adversity now. I have a little sister that I would never want to work her to work. I have a mom and dad to, you know, retire properly, and I have a little brother as well. Older brothers can help, you know, dead men, they can, you know, whatever, right? Um, but yeah, just make yourself comfortable with other people comfortable. I'm more of a community person, right? I like to spend time with the people here, like even if I was in Dubai by myself, I'd never want to move it unless I can move my people here with me. Okay, yeah, that's that really—no, it's amazing to him, and it's been a pleasure speaking, and I think a lot of people, you know, you open my eyes in terms of the Clearing Houses. I'm gonna have to go research now. I'm sure many people are. I'll DM you the—I have the links. I'll deal with the links definitely. It's very interesting. It's just an added layer of confidence, just so that you can have kind of confidence in that, okay, this time stuff is real, and it's time, then it's price, then price. Yeah, there you go. That's it. I like it. Times constant and prices and every just one every single model in maps. I studied statistics, right? Um, it's all just a relationship between two things. All the chart shows is the time and the price. Without the time and the price, you don't know where it's showing. Without the axes, you have no idea what the charter show nickel show Apple, these bananas, the relationship between time the given price, that's it. I respect it. I respect it a lot. Uh, but thank you, Emma. It's been a pleasure, and no doubt we'll probably reconnect in the UK sometime. Definitely, definitely. And uh, yeah, well that wraps us up. Thank you for tuning in. Make sure you drop a comment with obviously what your biggest takeaway was, your thoughts with the whole SMC and not SMC debate as well, and definitely what Omar dropped today. Uh, links for Omar will be in the description below. Thank you for being a subscriber. By now, no doubt we've surpassed 10,000 subscribers, so salute to you, and until next time. [Music]