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When Michael Katz, a struggling trader, takes a risk and pushes himself outside of his comfort zone with the help of an outside mentor, he discovers a way to trade with someone else's money and achieve a 60-70% success rate.
Michael Katz had been trading for four years before he learned how to use trade management to his advantage. He found success in scaling in and out of positions, and adding to his position as it moved in his favor.
Michael met a special mentor who pushed him to challenge his boundaries and take more risk. He then joined the online platform Trade the Pool, where he could trade with their capital and risk management tools.
For a one-time fee, Michael was able to participate in day trading and earn a profit. Through his journey, Michael learned the importance of managing his trades correctly and taking calculated risks.
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If you want to hear more of Michael Katz, then you should listen to this episode:
00:00:41 - The most important thing that a day trader needs to know to be successful
00:06:55 - Working in a bigger time frame
00:07:46 - What kind of trader are you?
00:15:22 - You don’t always win when it comes to trading
00:20:51 - Trading is technically all about the money
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