Ramon achieved extraordinary profits by leveraging prop trading firms' money and implementing a risk management strategy of risking half a percent per trade and scaling in positions as they moved in his favor.
Ramon's trading strategy emphasizes the importance of market structure and timeframe correlation, with a focus on identifying trend reversals or pullbacks using key markers of market structure and analyzing multiple timeframes.
Deep dives
Transitioning to Prop Trading and Making Substantial Profits
Ramon started trading about three and a half to four years ago after getting tired of his day job. He did extensive research through YouTube videos to learn about forex trading. Initially, he had a $2,500 account which he grew to $7,500. He continued to build his account and eventually had a $15,000 month. He then transitioned to leveraging prop trading firms' money and bought two 200k accounts. He made huge profits, with his first payout being $25,000 and the second payout being $50,000 within two weeks. His risk management strategy involved risking half a percent per trade and scaling in positions as they moved in his favor.
Importance of Market Structure and Timeframe Correlation
Ramon emphasizes the importance of market structure and timeframe correlation in his trading strategy. He looks for key markers of market structure, such as higher lows and lower highs, to identify trend reversals or pullbacks. He also analyzes multiple timeframes, including the one-hour and four-hour charts, to determine the overall market direction. By understanding market structure and timeframe correlation, Ramon is able to make informed trading decisions and manage his trades effectively.
Lessons on Discipline, Risk Management, and Mindset
Ramon reflects on the lessons he learned throughout his trading journey. He emphasizes the importance of discipline and the need to stick to your trading plan, avoiding overtrading and emotional decisions. He attributes his success to implementing effective risk management strategies, such as setting stop losses and not chasing losses. Additionally, Ramon highlights the significance of mindset and recommends surrounding oneself with positive influences, studying successful traders, and maintaining a focused and confident mindset.
Continuous Learning and Self-Improvement
Ramon emphasizes the importance of continuous learning and self-improvement in trading. He advises traders to constantly study the market, backtest their strategies, and seek new knowledge from various sources, including YouTube videos. Ramon believes that being open-minded and adaptable to new strategies and techniques is key to evolving as a trader. He also emphasizes the need for self-analysis and making necessary modifications to improve trading performance.
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