Why 90% of Traders Fail (and How to Join the 10% Who Don’t): Truth, Risk, and the Forex Trader’s Mind

Big promises and fast profits draw people into trading; the truth keeps them in the game. We sit with two battle‑tested traders to strip away the hype and build a durable approach: treat trading like a business, respect the market’s hierarchy, and make risk your first decision of the day. From regulated brokers and execution to leverage that cuts both ways, we map the infrastructure retail traders must understand before they touch a chart.

We get real about education and mentorship—what’s worth paying for and what’s just screenshots—then dive into the prop firm debate. You’ll hear both sides: how rules can enforce risk discipline and scale a proven edge, and how opaque policies and challenge fees feed a model designed for the many to fail. The takeaway isn’t cynicism; it’s clarity. If you bring structure, you have a chance. If you bring hope, you fund the house.

Trusted Forex Broker: https://shorturl.at/agPOK

On the craft itself, we break down a clean, repeatable process. Start with structure—uptrend, downtrend, or chop. Define bias, mark supply and demand as your points of interest, and sync multiple timeframes so entries on the 15‑minute align with 1H/4H structure and daily context. Wait for change of character or break of structure at your level, then let your money rules be the final filter: if the risk doesn’t fit, skip it. We share mindset routines that actually help—debriefing out loud, managing overconfidence midweek, fueling like a performer, and designing your environment so patience is easier than impulse.

There’s tough love here too: withdrawals are a skill, diversification is sanity, and your trading life mirrors your real life. The market will expose FOMO, impatience, and poor boundaries; your job is to build systems of not trading as carefully as systems of trading. If you’re ready to replace dopamine with discipline and screenshots with structure, this conversation will change how you approach every decision on the screen.

Enjoyed this? Subscribe, share it with a trader who needs the truth, and leave a review telling us the one habit you’ll change this week.

Guests: Eyram Dela x Cliff Cheqona

Chapters

• 0:00 The 90/90/90 Reality Check
• 1:22 Trading as Business, Not Gambling
• 6:43 Brokers, Regulation, and Leverage
• 14:40 Education, Mentorship, and Skill-Building
• 21:35 Mindset, Risk, and Performance Habits
• 28:25 Prop Firms: Models, Myths, and Traps
• 38:18 Why 90% Fail: Structure vs. Noise
• 47:06 Careers in Markets Beyond “Click Buy/Sell”
• 53:38 Life Design: Environment, Family, and Discipline
• 1:02:05 Cliff’s Framework: Trend, POIs, and Entries
• 1:16:12 Market God’s Playbook: Trend and Timing
• 1:23:28 Betting vs Forex and Sustainable Growth
• 1:29:35 Discipline Over Motivation: Hard Lessons

Transcript

SPEAKER_00: 0:00

90% of traders lose 90% of their portfolio in the first 90 days.

SPEAKER_04: 0:05

Traded accessibility in psychology, just like the same way Paul gives you gratification without you going out there for real. It's the same way trading.

SPEAKER_00: 0:15

I made about$5,000 and when I made that money, I wasn't happy. My friend was sitting by me and I made that money was so excited. And he asked me, you're not excited. Is it because like you do everything? Is it no, it's not because of how I do it, it's because of how I made it.

SPEAKER_04: 0:31

They close my account and said I breach the rules and I send them a warning and I said, listen, if you don't release this account, I will do XYZ. They release it and I put it back.

SPEAKER_03: 0:41

When you sit on that PC or your phone, what is your decision-making process? The very first thing for me, trading is a business.

SPEAKER_04: 0:50

And if you don't treat it like one, forget about profitability. If I trade Monday, Tuesday, and I'm doing well, that means I have to be careful on Wednesday because I know myself that by Wednesday I'm already excited that I made money yesterday, and overconfidence can overshadow me without me realizing it. You have a system of trading, but you don't have a system of not trading.

SPEAKER_03: 1:08

Are you making money from the trading or from the community? Yes and no. Welcome to Connected Minds Podcast. My name is Derek Abaite, and thank you so much for being a viewer and a listener of this podcast. Without you, we wouldn't have gotten where we are. If this is your first time ever chancing on our video, I would want you to leave a comment in case you make it to the end of this episode. Today's conversation is with two traders. Now, the reason I want to do another trading video is because I found men who want to tell me the truth about trading, they want to discuss it together, and I'm gonna clash their perspectives, and I want to make sure that every new trader on the block gets value from this conversation. We don't want to agree that everything we are seeing is real today. They want to prove to us. I'm speaking with Aram Della, he's already been here before, and I'm speaking with Cliff as well. Cliff has come all the way from Dubai to sit with me here. It's gonna be an awesome conversation. So stay tuned and let's see how it goes. You're welcome, my brothers, to Connected Minds. Thank you, my brother. It's great to have us. I'm really, really excited to be here. Yeah. Um, you sound like a pastor. Do I? There's an anointing. I feel it. When he speaks, you know, it sounds like there's an anointing somewhere. Now, what are we doing today? So for me, I've done a few trading podcast conversations, but I think most of the time there's still more people need to know about trading. You master in you know trading psychology, and then you talk about um gold almost all the time. Every single time I've spoken to you. Even today, you show me your form, tell it gold, gold, gold. But this guy's crazy for gold. Yeah, you should be crazy for gold. Yeah, but then my first question is yeah, how did you get into trading, Cliff?

SPEAKER_04: 3:21

So I don't know it's gonna be a funny story, but I was actually going to borrow money. Yeah, and so uh my friend goes, like, have you heard about MetaTreader 4? So he didn't have the money to give me. So he only told me to go find out um about the application called MetaTreader 4. And for some funny reason, I didn't get irritated by that answer. And I did. So that was how I started doing research on um trading, but I started with MetaThreader 4. Uh, very ignorantly. But that's how I that is how I knew about trading. What were you doing with MT4? So again, funny story. I downloaded the application. Okay, now don't take this story to go mock me anyway. But true story. So, you know the metacodes? Yes. The demo account.

SPEAKER_00: 4:18

Yeah.

SPEAKER_04: 4:19

So I thought that was an actual money that when I make money on top of it, I can actually redraw. That is how ignorant I started. Well, yeah. True no, true story. Um, and so during those research, and then later on I found out that you actually needed a life account. And so during all those days, you know, I was researching, making mistakes, and I got a privilege to come from a family where I was exposed to business and uh entrepreneurship earlier by my uncles. So I think that also helped me a lot to be able to have the right research in mind.

SPEAKER_03: 4:50

Oh, wait, hold on. You just got me thinking, is trading actually a business?

SPEAKER_04: 4:53

Definitely. Definitely. Oh definitely. Um, I mean, I think that's what a lot of people get it wrong. Trading is a business. And if you don't treat it like one, forget about profitability.

SPEAKER_00: 5:05

What is the business aspect of trading? Let's look at the characteristics of every business. Every business has wins and losses, true or false.

SPEAKER_03: 5:11

Yes.

SPEAKER_00: 5:11

So is trading. Could you give us some? I mean, like when it comes to every business, there are wins, there are losses, there are certain things you know you need to know before you get into the business, there are do's and don'ts of every business. And so trading is just like that.

SPEAKER_04: 5:28

I mean, I agree. And um the only thing I want to touch on right now is if you take the business structures and the infrastructures from trading, you shift it towards gambling. Okay, talk to me. So every business has systems and infrastructures. So the systems are the things that you see. The infrastructures are the things that you don't see, but you can't deny their existence. Same thing in trading, it has a hierarchy. Right? So the financial market is not something that you just pick up your phone and you just click buy and sell. We have a whole entire hierarchy. We have the top of the hierarchy, we have the major banks, then we have the EBS, then you have the medium-sized banks, then we have the corporations, the hedge funds, and all of that. And at the bottom of the hierarchy is us.

SPEAKER_00: 6:15

Retail traders.

SPEAKER_04: 6:16

So we don't just go in and make money. We need to be attached and connected to the business structure in order for us to be profitable. So we need to respect the hierarchy in order for us to have a business going on for us. That's how it works.

SPEAKER_03: 6:28

Okay. You found MT4, started trading on demo, thinking, I'm gonna make some money, but it was a demo account. How did the transition happen to you? Okay, let me learn more skills and you know take this seriously.

SPEAKER_04: 6:42

I mean, I went back to the friend of mine and uh I told him I downloaded an MT4 as he said. And he told me, Oh, so did I deposit money? I said, What do you mean? He said, You gotta actually put money in. I said, put money where. So that was when I realized that you actually have to really uh open an actual life account. Now, the first brokerage I opened was called, no, I'm not gonna mention names, but at the end of the day, they are collapsed now. And the broker actually collapsed with my money in it. And I'll never forget. I will never forget it. So there was, they gave me uh uh um an account manager. Those days, they will give you an account manager. Now I think it's it's still yeah, but unless I think you already perform well, yeah, right? But those days they will give you an account manager. So she goes, like, this is my name. I have been assigned to help you to manage your account. Um, and every time she would call and check up on me. But when the company collapsed, I literally just went like, oh, I'm trying to log in into the website, but it's not working. You said, Oh, I'm sorry, Cliff, but we are not there anymore. I said, Okay, no, no, no, issues. Can I give my money? Ah, I'm sorry, Cliff. Uh, it's gone. And that was when I realized that I should have read the contract of the brokerage. It wasn't regulated. It wasn't regulated. And and the and the and the brokerage just won. I didn't blow the account. So that was my first experience ever losing money. It wasn't because I lost the money because I was a bad trader, even. It was because the brokerage was not regulated.

SPEAKER_03: 8:03

How do you find a regulated broker?

SPEAKER_00: 8:05

Well, that's a very good one. Now, before you even try to um jump in on any other broker, you just have other people tell you, oh, sign up with this broker, sign up with this broker. First off, before you go to their website, you need to check out their regulations. Every broker is mandated to have their regulations on their site, okay? And I think there are specific financial institutions that you can check and on their table of contents to find um regulations for certain brokers as well. So I think for that as well.

SPEAKER_03: 8:33

Is there an external database that you can check to verify that the information this broker has on their website is legitimate?

SPEAKER_00: 8:43

Yes, yes, I think it's the FSCA.

SPEAKER_04: 8:45

Yes, and depending on the the area where the brokerage is registered as well.

SPEAKER_03: 8:50

Okay. Okay. Which which which registration, which country of registration makes it more riskier?

SPEAKER_00: 8:57

Um for that I'm not so sure about that, but I as far as I'm concerned, I know that uh certain countries like Cyprus, most of the brokers are registered in Cyprus, not because of anything, but because it's easier for you to register your business in those countries.

SPEAKER_03: 9:10

It's not because they're trying to evade taxes.

SPEAKER_04: 9:14

I mean, that could also be the reason. I mean because it's expensive to manage um, you know, brokerages. But then if it's registered in the UK, very tight regulation. Higher tax, and all of that. So, but if you find brokerages around Mauritius, I'm not saying I'm not saying that it means that they are bad, but there are higher chances that the CEO is probably only wearing a box for shorts and a suit somewhere that you don't know. No, no offense, but at the end of the day, that's the truth. Uh so you need to be able to educate yourself about the foundation of how brokerages work before you even understand which one. Okay, talk to me.

SPEAKER_03: 9:50

How does brokerages work?

SPEAKER_04: 9:53

We have different types of brokerages. Okay. We have SCP or the ECN. They are the brokerages that um they are only liaisons to transfer your orders to the liquidity provider. They are not liquidity providers, they don't have the money in-house, but they can connect you to get your money uh to be to get your order triggered. Then we have the market maker brokers. They have the money in-house. So let's say, for example, um, it's like having an ice cream shop. You are the ice cream producer, you don't have to go to another shop to go buy the ice cream to come sell it. So if I order the ice cream from you directly, I get the ice cream from you. Uh, have you realized how in Africa you can go to a market and the person doesn't sell the things you want, but they can get it for you, don't even have to move from there. Same thing from middleman. Exactly. Same thing with these brokerages. They don't have the liquidity in your house, but then they can get your order triggered. Because in order for you to be able to um buy and for your buy to be triggered in the market, somebody at the end of the tunnel needs to sell. So it's not like you are clicking buy and magically is getting triggered, somebody's accepting your order. So the brokerages are the ones in charge of accepting your order for you. Now it takes money to get your money to be accepted.

SPEAKER_03: 11:09

When I take a trade today and I click buy, is it instantly executed on the market? Yes. Yes.

SPEAKER_04: 11:22

Yes, it is. Now, don't get me wrong, there are brokerages that can be book you, meaning that what you just did is showing that it has been triggered but may not be real. But the actual brokerages, it gets triggered.

SPEAKER_03: 11:34

In cases where it's not it's the brokerage that's you know, playing with the numbers, maybe it's your software that is making it happen and it's not, you know, taken to the real market. What happens?

SPEAKER_00: 11:45

Well, as far as I'm concerned, with the b-book workers, they study you for some time. When you see that you're losing trade down, that means most of the time you are just losing money on the market. So it's like, okay, we can bear against this guy. So whatever trades he takes, we're going to take the losses. If it's a win, we are going to take the losses and then just be book working. Yeah.

SPEAKER_03: 12:01

That's interesting. Yeah. Okay, now I want to take you back. Forex education. We've spoken about, you know, brokerages. What is a broker? What is that?

SPEAKER_04: 12:13

No, feel free. I mean, at the end of the day, it's just simple. They are just liaisons. They are the reason why we are connected to the market. Because me as a retail trader, I'm not connected to the market directly. I'm connected to the market through the brokerages. So it's a conflict of interest, by the way. What do you mean?

SPEAKER_00: 12:29

Well, basically, broker is also like a company that gives you access to the actual market. So back then, right, you needed a minimum of$250 million to be able to even exchange on the financial market. So, like that's what he said, the hierarchy. We have the big banks, the big institutions, right? The the big corporations, right? You can't just have access that you want to uh you know make money on the market like that. But thank God for brokers, brokers are like middlemen that give us that opportunity to be able to make money on the financial market through a system called leverage. You understand? Okay, leverage.

SPEAKER_04: 13:01

What is that? It's like a loan. So your money is not enough to trade in the market. So the brokerages give you the loan. I mean, that is what they say. But at the end of the day, uh, without that, you cannot be able to have the buying power. Because the financial market is huge.

SPEAKER_03: 13:20

Okay, but before look, I open an account with an ex broker. Okay. Put in$1,000. What do you mean leverage? How does that affect my thousand dollars?

SPEAKER_04: 13:31

Okay, so let me explain it this way. Um, let's say, you know, um market god here comes to me and says, Cliff, I only have$10,000, but I want to open um a franchise of maybe one of those big companies, you know, in of a restaurant. Now he has something, but it's not enough to run the franchise. So he tells me, can I give him extra money to add it to his money? And then at the end of the day, he can start his business. Now, watch this. If I tell him, okay, I'm gonna give you$100,000, but then with that$100,000, it comes on interest. So the higher the loan, the higher the interest.

SPEAKER_03: 14:08

Okay.

SPEAKER_04: 14:09

Yes. So same thing with the leverage. You have just$1,000. So if they say they're giving one is to$500, is$500 multiplied by your actual income?

SPEAKER_03: 14:20

What you otherwise couldn't have done with your thousand dollars. Exactly. Now you can do with$10,000 at basic leverage. But you can't take the$10,000 out. No, no, you can't.

SPEAKER_00: 14:31

But you can leverage on it to make more. So it's a two, it's a double-edged sword, basically. Okay. Yes, you can leverage on it to make more.

SPEAKER_04: 14:38

And you can also leverage on it to lose more because the higher your leverage, the higher your chances of making more and losing more as well. That is what a lot of people don't understand. So it's not like big leverage means good news. It also means that you can lose more. Because now you have the capacity to risk higher.

SPEAKER_03: 14:54

But isn't it the same money is risking from the same thousand dollars I deposited?

SPEAKER_04: 14:58

No necessarily, but yes. So, what that means is this. So there are brokerages that will give you higher leverage as money to I think 500. 500 more than that, actually.

SPEAKER_00: 15:08

Yeah, some even go as much as 2,000. 2,000. Yes, uh, yes, it's true. It's some go unlimited.

unknown: 15:13

Unlimited?

SPEAKER_00: 15:14

Unlimited as well.

SPEAKER_04: 15:15

But it's nothing like that, though. Okay, I like that code. There is nothing like that. Because the truth of the matter is that is it. So uh you you need a leverage to be able to open the positions, but the money is not yours, it's just the positions. That is it.

SPEAKER_03: 15:32

Okay. I've just started trading, learned on YouTube. First of all, what resources do you think is legitimate enough for someone to learn trading from?

SPEAKER_00: 15:44

The whole council of knowledge, the whole body of knowledge, that's me. Okay, so when it comes to um education, it's a very important thing. I think I've said this here and I'll say it again that trading is just like a game, and before you play any game, you must learn the rules, all right? So the very first thing is obviously if you're looking out for free content, YouTube will be your number one. But then there's also like um a website called um baby peps, where you can actually learn from uh for complete beginners, everything you can learn from about trading is there. But the truth of the matter is that when it comes to this kind of job, you definitely need somebody who has experience to be able to teach you why, because I feel like that's what people are selling, they are selling mentorship rather than education. Of course, what do you expect? If I want to learn how to do something, I best must have it from somebody who is already good at it. So if I'm not able to convince you enough that I'm not good at it, then don't come. That's fine. But if you see that it is working for me, then why are you not coming? Come and learn, of course. You need to learn how to trade. You have to learn how to trade. If you feel okay, um, I'm just selling um a course or I'm selling a mentorship and I just want your money, no problem. Do it yourself because I figured it out myself and I lost so much more. I paid my dues to the market. So if you want it that easy way, don't worry, just do it yourself. You'll come back eventually. You understand? It won't have to be through me. You'll probably find someone else.

SPEAKER_03: 17:03

I would appreciate if at this point you can make all your learning notes in the comments and let other people also add to what you've learned. Fantastic. Let's get on. At which point in my learning experience do I say it's enough? Now let me go on the market.

SPEAKER_04: 17:20

Okay, so I'm just gonna be very honest. The truth is when you leave humans to try to figure out things, they will figure out everything. This is the issue, and I don't know when it's going to be solved. Trading is just like going to school to become a medical doctor. There is a body of knowledge you need to know, and it doesn't take one week. It doesn't take two weeks. So the issue right now is that you can't just pick up somebody from the streets and just turn them into a trader in three months. They need to have some basic knowledge in economics. That is where you understand what supply and demand means. So the issue is that after the technical stops on every single thing, even there is transformation involved. I say this all the time that the same knife they use to cook a food is the same knife someone can use to hurt somebody. There is no problem with the knife, it's a mindset holding the knife. So even if uh market God gives a strategy to somebody because he likes the person, it doesn't mean that that person was to be profitable. Because it is not the strategy that's making market successful, it's his mindset behind that strategy. So it takes a while to become a trader. For me, minimum three years. Even if you make money the next band, you are not a trader yet. Somebody who is not even a soldier can shoot somebody. But it doesn't mean they are a soldier. If you give an ammunition and uniforms and guns to a civilian, you have just given ammunitions and guns to a dangerous person. That same person, after three years, you call them a soldier, even though you're not wearing uniforms. So what changed? The face didn't change, the hand didn't change. Now you're saying now you were a soldier.

SPEAKER_00: 18:58

What changed? When you hear somebody say, it took me four years, five years to figure this out. The person wasn't talking about strategy. What was he talking about? Mindset.

SPEAKER_03: 19:08

What is that mindset for you?

SPEAKER_00: 19:10

What is that mindset? To be able to understand that experience. To be able to understand that first off, this is not a business where you can just come in and then turn$1,000 into$100,000 or turn your$2 into$1,000. The harsh reality about this job is that number one, it is a capital-intensive business. And a lot of people don't even understand. However, it has a very high yield return rate. For example, like return on investments. If you're good at your game, you understand what you are doing, you can be able to compound your money over time and make good gains other than some other businesses as well. Market God, tell me.

SPEAKER_03: 19:48

You've just woken up. After all these years of you know trading gold, you understand how the market moves. At least. Technically. At least. Maybe the fundamentals can pull you off every now and then, but technically. When you sit on that PC or your phone, what is your decision-making process? The mindset behind what's that decision-making process?

SPEAKER_00: 20:08

Alright, so basically, the very first thing for me, well, I think for most traders, is the difference between a pro trader and an amateur is he sits on the PC and like, ha, today I need to make some money. Today I'm thinking of how much I'm ready to risk on the market. I'm thinking about how much I'm going to be losing. Because my first interest is not money. My first interest is when I go wrong, how much will I be able to risk? Or how much will I be able to lose? I have a million dollars in my account, I have a hundred thousand dollars in my account, but how much am I going to be risking today? And if anything goes wrong, how much will I be risking today? Because life in itself is a risk. Every single day we wake up, we go out, we go and come in. What is going to profit us is what keeps us going. So for me, when I wake up in the morning, I'm thinking about okay, if if the market presents an opportunity for me, how much will I be risking? Am I okay with that risk? And if that risk is good with me, then I'm ready to jump in and make some profit. If it goes bad, I'm definitely going to be okay with it because it's part of the game.

SPEAKER_03: 21:05

Let me stop you here for a minute. We are on a journey of changing the minds and the lives of people. So if you haven't subscribed and become part of the family, please hit the subscribe button and turn on the notification. Thank you. Now let's carry on with the conversation.

SPEAKER_04: 21:21

Cliff, yeah. Your turn. I mean, definitely I believe in having the right mindset a lot. Um, and for me, the first thing that I need to do is to make sure that all the emotions from yesterday have been flashed out. How do you do that? Oh, by talking. I look into myself in the mirror every morning. Declarations are very powerful. You know, in in I always tell my people that you don't beat a thought by thinking, you beat a thought by talking. It's a law. So if you are thinking right now about how sad life is, and you think about how you want to get out of that sad life, you will still keep on staying there because you can't beat a thought by thinking. So the first thing is okay, I lost money yesterday. Great. So what? As soon as I say so what, it counterattacked that thought immediately. It's not just a word. So the first thing is I look into the mirror, I tell myself, my name is Cliff Chicona. I'm happy and grateful now, X, Y, Z. Yesterday, whether I won or I didn't win, is growth and lessons. I do that every single morning. And how do you know it's true? It's true. Community does a lot of time. They do it themselves as well. So at the end of the day, the first thing I do is to get the things out. Secondly, you gotta drink water. I know what I'm saying is, oh yeah, but drink some water. Some people are dehydrated. I made a video one time and they were like angry. I said, if you're in Ghana, stop eating kink in the money to trade. You would think that that chart is what you think it is. It's not. You you have to eat well. Trading mindset or the mindset we talk about, it's not abstract concepts. It could be, but you can go beyond it. So a lot of people don't understand that that there are certain things you need to actually do practically to get your mindset right. And sometimes I tell my people that it's important, at least, even if so, eat some banana. Simple things. It's it's as simple as that. Do you know why people don't see it like that?

unknown: 23:16

Yeah.

SPEAKER_04: 23:17

Because they don't understand trading as a performance business, just like a footballer, just like a model, just like everything else. So you need to perform well the day. That means there are people, for example, myself. If I trade Monday, Tuesday, and I'm doing well, that means I have to be careful on Wednesday. Why? Because I know myself that by Wednesday I'm already excited that I made money yesterday, and overconfidence can overshadow me without me realizing it. So I have to put systems in place and make sure that by Wednesday I'm retracing back a little bit instead of trying to keep on pushing. People sometimes tell me, for me, anytime I'll see the setup I would trade. I said, okay, good for you. You don't have you have a system of trading, but you don't have a system of not trading. And that is the issue.

SPEAKER_03: 23:56

So it's not trading. I love that. What's your system of not trading?

SPEAKER_00: 24:01

Uh waiting is a scale. I mean, it's one of the best trades you can ever take on the market is to not trade, right? Because um, for me, um, if I don't want to take a trade or I feel like I'm over trading, one of the best things I do is to get off the market, get off my laptop, and get myself a hobby. I used to have a very big issue with discipline when it came to the market. And if I had not fixed that, I'll be part of the people, especially online, saying that forex trading is a scam. You know why? Because I was not seeing the result of what I was doing. I was putting in money, losing money, and I was like, no, and you know, someone without knowledge, uh the broker is taking my money, but you play as a trade, see, understand? Yeah, so I just get myself off and find a hobby. Yeah.

SPEAKER_03: 24:44

I was one of the people that used to think that forex was a scam.

unknown: 24:47

Okay.

SPEAKER_03: 24:47

Have you changed your mind? Well, I told you what happened. So in around 2017, I lost a lot of money. Okay. When COVID time hit, I found myself in London and then I was speaking to some old classmates of my brother who says that he's a very good trader.

SPEAKER_02: 25:06

Okay.

SPEAKER_03: 25:07

Now, because I got very close to him, like what we're saying here, I told him, Look, I want to see your account, and I want you to take trades while I'm looking at the account. He gave me access to his account for a week and I watched everything he did. He made losses, he made profit, he made losses. At the end of the week, the guy made over 6k on that account. That was my proof that Forex was not a scam.

SPEAKER_04: 25:37

That was a very good libel moment. Yeah, that was my proof.

SPEAKER_03: 25:41

It was a very good libel moment. The problem is there are people who know that you have a brand. You have a brand. You have a community, you have a community. Amazing guys. What they really want to understand is that are you making money from the trading or from the community?

SPEAKER_00: 26:04

Okay, that's a very good one. Um, you know, that's first of all a very good search to do. Like it's very important to know that okay, is this trader really making money from the community or is he even making money through trading? Now, the very first thing to do is to first of all get into the community and see what is happening in there, right? If you are a complete beginner trader, you might get lost. But if you're an intermediate trader, you know a bit about everything. You're seeing this person is dropping trades, you're checking out the trades, go through his history, right? Look at the comments, find people, you know, read from people, get to know the reviews from other people, right?

SPEAKER_03: 26:41

But they cannot be orchestrated. So that's what I'm asking you. All these things can be orchestrated. Look, we've seen quote unquote profits who have orchestrated people.

SPEAKER_00: 26:49

Fake profits, perfectly.

SPEAKER_03: 26:51

So that's what I'm asking you. You have a great community, you have a great community. Are you making money from trading or from community or both?

SPEAKER_00: 26:58

Personally, for me, I'm making money from both.

SPEAKER_03: 27:00

Fantastic.

SPEAKER_00: 27:01

Yes, of course. I mean, and you know, that is that is the mindset that a lot of people, especially in sub-Saharan Africa, thinking that it's a very big problem. Oh no, you're making money from um the community, and so what? Like, look, knowledge is expensive. Thank you. You have to pay for it.

SPEAKER_03: 27:14

I believe it. People pay for my coaching.

SPEAKER_00: 27:16

What people don't know is I spent lots of money even till today. I spend money trying to buy other people's causes, even as market god now. Ask me why. Because I want to know more, I want to get to that level more every single time. I'm spending money. In fact, last month, I think I spent like X amount of money trying to buy someone else's cause. And guess what? It was nothing. I spoke to a millionaire here, multi-millionaire, David Simons.

SPEAKER_03: 27:41

He pays over$250,000 a year on coaching. Wow.$250,000. He's paid for Russell Branson, paid for Myron Golden. Well, Myron. Yeah, yeah, yeah. Just to have more knowledge. So for me, I understand that this is how it. Look, if you want the knowledge and you pay for it, you consume the information. But if it's free, you don't do it.

SPEAKER_04: 28:07

So now over to you, I mean, for me, I think um I don't have any issue with um coaching. Uh it's just that the way that I'm I'm supposed to build what we are building, I had to take a different route. Okay. So currently, right now in my community, I don't charge them for anything. In fact, I don't even have a telegram channel. Uh people thought I was crazy when we started that. I said that um I wanted to build a brand that is as vulnerable as an ATM machine. You don't need a telegram channel to know where an ATM machine is. That's what we did. So um every Saturday, our masterclass, we don't have a group that we put in there and say we are live where people show up. So currently right now, and mine is very peculiar because I'm dealing with the mindset of people. So you have to start from a very good foundation. So the way I did it is that right now, yeah, it doesn't mean that everything that we do it is for free.

unknown: 28:58

Yeah.

SPEAKER_04: 28:59

As far as maybe if we're about to have an event or something, that is different. Uh, but if I put people in the group and I'm charging them forward, um, I didn't have that uh mindset. So in our community right now, we don't we don't I don't charge people for.

SPEAKER_03: 29:11

Do you think professional traders should be charging students um you know to for mentorship coaching and uh teaching? Uh uh yes and no. Okay.

SPEAKER_04: 29:25

Yes, because I think that they have also, as Market God is saying, he has put in the effort, he buy courses, so he paid for it as well. So if you want what he has, um he has the obligation to charge you. No, because I think that uh we have not built the infrastructures and the system to where it's supposed to be for us to deserve some of the amount of money sometimes the coaches charges. I think is is outrageous uh because the it you don't go into the financial market to make money, you go there to multiply money. So you can't multiply what you don't have. So if the individual that you are charging. Him money, uh, it's not gonna have money to even trade. The mentorship becomes a little bit uh as a toxic as it was supposed to be for the benefit of the individual. So I think that right now, in my own opinion, and this is to every single mentor out there who is gonna be listening to this, is that we have to all make sure that we come together to create a proper ecosystem to make sure people are getting the whole structure of a body of knowledge, uh, the whole too much of this is me, this is that, is what is actually causing people to lose money. Because it's like basically saying that my name is Clifford. And someone will say my minaza vote cleaford in in Russian, somebody says Jim's pell cleford. It's the same thing, but I have to say it differently so that the person can pay me money, but it's the same to me as saying. So that is why I focus on trading psychology because I know that the thing they will learn from market god is equally the same.

SPEAKER_00: 30:48

Well, I disagree, to be very honest with you, because anything that is free has of is is of no value, or people will always trample over it. You understand? If you have spent years perfecting the craft, you cannot give it out easily. That is why today some brands, big brands in the world like Coca-Cola, other brands cannot replicate it because there's a secret that has been held. There's there's a there's a there's a process they went through over the years to bring out a unique product. Every single one is unique. Yes, we all preach one thing, which is profitability, but there are many ways to kill a card. I can have a strategy that is 80% accurate. He can have a strategy that is 100% accurate, you understand? But for me, my approach took me maybe from this amount of money to this amount of money. For example, now we have in um um we have um companies that find people to be able to trade. So if you're a complete beginner, you're starting out, you don't have a hundred thousand dollars to be able to, you know, make money on the market, right? You can leverage what we call prop firms to be able to make money on the market. I personally have made money from prop firms, and I'm not gonna mention names, but you can go through my Instagram and check the history. You find that I have certificates showing my withdrawals and everything like that, right? So now imagine you buy a mere$500 account and then you've made over$6,000,$10,000 monthly from those proprietary firms, you're able to scale up your trading journey. Now, that is a skill set you need to know. And for you to get that skill set, it's not gonna come cheap, not because of anything. I first of all said that this business is a capital intensive one, right? If you find anybody's mentorship expensive, it means you don't you don't appreciate it. Nothing is as a nothing is as expensive, trust me. Because if I tell you that I'm gonna give you one million dollars and tomorrow you're gonna die, will you gonna take one million dollars? Yeah, but you need one million dollars to do certain things, you need one million dollars to set up your businesses, but at what at what point are they at the cost of your life? So a lot of people do not really appreciate the the value that you are going to offer them because they think it's not going to be beneficial to their lives. Do you understand? I have trained um um mothers in Ghana that are now mentors today in the trading space, and I remember especially one of the ladies, right? She's called Abba Trades. I think I'll just laugh to say it, right? She's called Abba Trade, right? In fact, when she came into my DM, she was in debt. Today she's doing very well in her space when it comes to making money on the market. She had to pay the price because to some level of elevation, you have to pay the price regardless of anything. It's not always money, it's about the effort you put in, the sacrifice you put in, and even the value that you offer to some people. There are some people who have talked for free, but what value did they give me? They decided to do something for me, and I decided to give them that knowledge that they have. Everybody around me trade.

SPEAKER_03: 33:27

This is amazing. To see the two of you one person for one person again is beautiful. I I'm sure this is what we want, right?

unknown: 33:37

Interesting.

SPEAKER_03: 33:38

But you know, there's a conversation about prop firms.

SPEAKER_00: 33:40

Yeah.

SPEAKER_03: 33:41

I a thousand percent believe that prop firms are fake. Okay. Prove to me otherwise. Anyone.

SPEAKER_00: 33:53

Well, for would you like would you I think you like you can say something?

SPEAKER_04: 33:56

No, I mean, um I mean it's gonna be an interesting conversation to be honest. Okay, go on. Because I I think that my perception towards this industry is a little bit slightly different. Okay, and I agree with everything that he's saying. When I say that I don't I don't charge people, I never said that you come in without payment. You can pay with your time, you can pay with your efforts. And as you are saying, there are people right now that you know they will come in and they will not be serious, and you can tell from the get-go. What I am saying is that the fees they are paying and the people we want to charge them, there is a structure that needs to be in place for us to deserve some certain amount of money. Because when you go to Harvard, they let you know that you have come to Harvard. It doesn't matter even if you finish the school and you're in debt, they let you know that experience was Harvard. I feel like right now, what is happening right now is that just showing somebody that you made money is not the qualification to charge other people. I used to do one-on-one mentorship and it was easier. But then when I wanted to now get more people, I realized that I need system and structures. So only you alone cannot have the money and build a proper system to mentor a generation.

SPEAKER_03: 35:08

Right.

SPEAKER_04: 35:09

That is what I am saying. That you can charge people, but if you want to change a generation, you need system and structures, and it costs a lot. So it's either you're gonna build a system and structures or you're going to have to contribute into their life. That is number one. Number two, about the prof firms for me, it's not that prof firm is fake. Prof firm simply meant we're gonna look for a profitable trader and we are gonna make money with them. The current generation, prof firm we are in, is a business. So the business is real, the motif is fake. That is a thing. So market god may have made money from the prof firm because he's market god. Alright, but then the other 90 people that pay for the prop firm, they had the customers to the business. So majority of them are gonna fail when they know. So now the whole business model says, okay, you know what? We are going to make sure that, and that is why when they give one payout or ten payouts, even if they give a hundred payouts, that 100 payouts is the marketing strategy to another thousands of people who are gonna purchase the account. And I can tell you this because I've also traded in other prof firms and I know what they did to me. And I cannot tell you for sure. There is a prof firm that I made money, I made I made, I'm gonna say that I made seven grand in one entry. They closed my account and said I breached the rules and I sent them a warning and said, I've been trading for more than 11 years those days. And I said, listen, if you don't release this account, I will do XYZ. They released it and apologized. I'll not mention your name, but I'm telling you today. I wish you did. No, but you know what I mean, right? So let us be honest here. The prof firms are paying some people, but that is the whole bait. Yeah, that is the bait because they know that they can't beat market god. They know that even if we pay him$100,000, they're gonna make millions or so out of it.

SPEAKER_00: 36:56

Well, I don't see like that because personally, for me, in the time that I made that money, I was not market god. I mean, I had the name, but like I was not market. Didn't see me as an influencer. I didn't even sign up as an influencer, they didn't give me any account that hey, come here and stuff. But you see, for every dispensation, there's something that people must take advantage of. Okay, right now, when COVID hit, no smarks were flying, people made money. I lost money. Thank you very much. That is the that is what I want you to understand. In that same business that was making people money, I lost money, but didn't mean it was a scam. No, no, why no?

SPEAKER_03: 37:33

I saw the product. Couldn't it sell it in time?

SPEAKER_00: 37:35

Yes, you couldn't sell it in time because you didn't have the scale, you were late. You understand? So now, definitely, we have certain proprietary firms that are a scam. Their motive, as my brother said, is wrong. They are here to scam a lot of people. I've I've seen lots of them, and then we have certain legitimate ones that have been in the industry for years. They have lots of tight rules, right? They have lots of tight rules. I'm not even gonna lie. They're gonna find you$100,000 until you don't lose 5% in a day. That means you don't even have access to the whole hundred thousand dollars. But what are they building in you? They're building in your risk management because you're exposed to 100k, but you don't have access to all, you're able to build that over time, make profit, and redraw your money over time.

SPEAKER_03: 38:16

Correct me if I'm wrong, but this is my view of profs. Okay, buy a package for$500. If you get 10,000 people buying that package, that becomes the money that if you pass this, because essentially you have a demo account, you're proving you buy the$500, but you you have to prove yourself with a demo account, it's not the real money, demo account, and then that proceeds. People pay, and if they make enough money from that$500, because a lot of people are gonna go off. That's the money one person out of the 10,000 might get access to in the end. So basically, they're using your own money, yes, money from other people, and you're going back to trade with it. It is true. True or false? It is true. What do you think?

SPEAKER_04: 39:00

Uh okay, I didn't want her to say this, but I've been recruited before in a firm in the United States for me to work as a trading psychologist in the Apro Firm company. And I I got out because I saw how the business works. So people say they have a life account, you don't even get a life account in the first place. It's never it's not a life account. And then they have a risk management team. So with this risk management team, they are their job is to make sure that you don't get too much money out so they would trade against you. Yes. And sometimes even if so, true story uh there was this uh time that we're trying to work on a brokerage um because I do consult for other companies as well who wants to be on academies. And so they wanted to have their own brokerage, and so we had a meeting with one brokerage. Okay, it's so sad that we cannot mention names, but at the end of the day, let's keep it like that. So one brokerage, he comes and he goes, like, um, they're gonna give us the best risk management team. That's what do you mean? He said, Look, there is one guy, he's a medical doctor, he deposited 5k and he made 1.5 million dollars from a good trade. But we couldn't stop him on time. So right now we gotta breach him with uh compliant issues. I'm not I'm not I'm not telling you anything wrong. You see, the truth of the matter is there are people right now that even if you make a million dollar article, you will not get it. They don't know that yet because you have never made a hundred million, you have never made a million dollars before. So there are a certain amount of money you cannot even get out of your brokerage if you did make it. There are some brokerages, you know, again, I'm not gonna mention it, but I think you and I we know some of some very good brokers, uh, which they have a lot of money. So for them, you don't have an issue, they move a lot of money. But there are some brokers, if you make some certain amount of money, you are never gonna get the money out. It's impossible. So same thing with prof firms. Prof firms, to me, I still stand for it. That even though it's a good business, but it's only good business for a simple minority, and the goal, the main business, is what they are doing. It's not to give the account of people for people to trade, in my own opinion.

SPEAKER_00: 40:58

That is what I think. I mean, they say they say that uh proprietary firms, if you read almost every proprietary for experienced traders. That's what is said over there. It's always there. Proprietary firms for experienced traders come. That's why they give you two phases past phase one, past phase two. And I think the model, in as much as it looks like a scam, a lot of people are actually built on a lot of businesses are actually built on that. Think about it, right? Um, you have a business, you're able to you're able to bring something to someone that somebody does not have. You're leveraging on a person's lack of that need, you understand, to provide it for that person. So the person is running a proprietary firm, and then uh maybe I'm able to make money off it and I'm making money because I have the skill set. They know that you don't have the skill set. So if you go, you keep losing money, you understand? At the end of the day, you keep losing money because you don't have the skill set to be able to make it. But I'm taking advantage of it, you understand. But I'm not trying to say that that is what is like running all the time. We have certain proprietary firms that are um compliant with regulations and stuff like that, that when you trade, you're able to make money for yourself. And then if you have if you follow their rules, you are good to go, you're making money for yourself. However, the sad part is 90% of traders will keep failing all the time, and that will take that will that's how their business model has been built over time.

SPEAKER_03: 42:16

So 90% of traders will keep failing. Yes. Why do we have such a big number of failures? I think we should take this one.

SPEAKER_00: 42:25

So the golden rule of trading is 90% of traders in their first 90 days lose 90% of their capital. Would you like me to repeat that? Maybe just rewind and listen to it again. 90% of traders lose 90% of their portfolio in the first 90 days.

SPEAKER_03: 42:44

Let me stop you here for a minute. We are on a journey of changing the minds and the lives of people. So if you haven't subscribed and become part of the family, please hit the subscribe button and turn on the notification. Thank you. Now let's carry on with the conversation.

SPEAKER_00: 43:00

Why? Well, lack of knowledge. That is it. What will make a man feel in an area in any any but look, people have the knowledge.

SPEAKER_03: 43:13

The information is there. The information is accessible on several websites, several pages. As a matter of fact, I think there's too much information out anyway, yeah, when it comes to trading. How come people don't technically, technically, fundamentally, I don't know. I mean, things can change anytime. What we thought Trump was gonna do to help us in in crypto has been completely different. Right? Fundamentals will always be different, but technically, the the the the market is there, the information is there. How can people fail? That's the mindset. Talk to me.

SPEAKER_04: 43:50

The information is there, the question is what information is that? That is the first question we've got to ask us. And that was the point I was trying to make earlier. That there is too much talking going on in the industry. It's not it's not always the right information that people are hearing. It's not true. The infrastructure in the financial market is not built for the average retail trader to make money. It's not. And until retail traders understand that, and that's what I'm saying, until mentors understand that, how they are even making money, how we are making money, it's not just because we learned how to trade. We have experience in so many areas in life that has built us. We have conversations with right people, so we hear right things. The average mentality don't get that. So, and we're not gonna tell them every single thing all the time at once. Exactly my point, because there is no regulated structure that regulates mentors. Because right now, if I ask you right now who is the best mentor, let's say in Ghana, what would your answer be? Based on what? That's true. No, that's like I'm just asking a question right now. I'm not even trying to say that what I'm saying, but based on what? But you when you go to the Ghana Education Service, they tell you which school is regulated. So when I say that we need to come together, what I was basically just trying to say is that it's about time. We need to take the people seriously. That it's not every information that makes you a trader. It's not true. It's not true. Just because I'm talking about support and resistance and smart money concepts and ICT strategies does not mean that you're gonna be a trader. It's not enough. So, what is enough? You need to study the whole body of knowledge. You need to start from economics. Okay, so just let me explain what I mean by that. You go to school and you want to become a medical doctor, you have to study first a human anatomy. You have to study pathology. Understanding diseases doesn't mean you're a doctor though, but you need it. So, the same way when you start studying economics, what about your business management knowledge? What about your accounting knowledge? You don't even know when to redraw your money from your account. People sometimes I make people and they're like, oh, I multiply my money 100%. What happened to the profit? Why didn't you withdraw? He didn't even know when to withdraw because he's not happy with the profits. Why is he not happy? Because he wants to turn$100 into$10,000 before he says it's profitable. I can assure you, a lot of retail traders are profitable. They just don't understand the business. Because if you put$100 in the account and you make$1,000, that is a lot of money. But he wants to buy the Lamborghini. Before he will say he's profitable. But you did 5%. You put your money in the bank and they don't even give you 1%. You made 5%, you made 10%. And so at the end of the day, this is the issue. There are many things traders don't understand. And I can assure you, as simple as redrawal, they don't even know when to redraw. Because there is no, okay, I'm gonna ask you a question. Do you think every single person is supposed to click by and sell? No. There is a risk management job in the industry. There are people who can be able to code platforms for the retail traders. There are people like myself just doing only trading in psychology. There are many career choices in the industry. Everybody gets up and says, I want to be a trader. Okay, imagine somebody walks up to me and he has no legs and they say you want to be a footballer. And I tell them, Don't worry, you can do this. Let's do this. I'm being wicked. Not everybody can be a trader, but you need to understand the financial market. That is the mandate.

SPEAKER_03: 47:05

Not everybody can be a trader. Oh, but everyone needs to understand the financial market. So the aim shouldn't be that we want to go on the market to make money. No. You just want to understand how the market works.

SPEAKER_04: 47:16

That is my point of view. Because you need to be able to ask the average retail trader that why is Ghana's economy doing this or doing that? And they need to answer it. They don't know it. And they call themselves traders. What do you mean? Why do you think most people go on the market then? Because trading is the only thing you just pick up your phone, and then in an instant, that is it. Do you know how I compare it to? Hopefully, I can share this here. Trading has a similarity in psychology, just like porn is.

SPEAKER_03: 47:42

Alright, talk to me.

SPEAKER_04: 47:43

Yes. So the same way porn gives you gratification without you going out there for real is the same way trading does. You just pick up your laptop on your bed, on wherever, you do whatever you gotta do to get a dopamine rush. That is it. Psychologically, it gives you the same feeling like you are winning. But there's an actual business to this business. So there is an actual woman out there you gotta go talk to. Being in the room watching porn is not the same as being out there talking to a woman. So we people need to know the truth. You are not a trader yet.

SPEAKER_00: 48:14

I mean, I for this, I really agree with him. Honestly, for this, I really agree with him on this one. Finally. I'm coming in.

SPEAKER_04: 48:29

This is my perception.

SPEAKER_00: 48:29

Yeah, I'm just I'm just trying to be. I was so caught up with what he was saying, and I think it's a makes it amazing.

SPEAKER_03: 48:35

I think it's it's it's it's a solid view, yeah. Solid. But what I want you to take us through is okay what do you think somebody who really wants to be a trader should be equipped with? Okay. Start from the top. Okay. This, that, that let's go.

SPEAKER_04: 48:51

So if somebody's decided right now that I want to become a trader in the financial market, because trading is a broad word, in the financial market specifically, you need to first of all understand the nature of the business, the foundation. It's like 101. You need to understand there is a hierarchy. You need to understand that, okay, uh the major banks we keep on talking about. What is even their job? Their job is to regulate monetary policies. So they are not attacking you, they are just doing their job. EBS, what are they doing? They are connecting people to exchanges, medium-sized banks is how we all send money and stuff. Hedge funds, corporations, whatever, they are doing their business. It is only the retail child that doesn't have a job. They just want to make money. No offense. So they don't have a job. They just want to make money. They to offense. Okay, no. I'm coming with you. But what I'm basically trying to say is that you need to understand the foundation first. Then there are times where I'll be telling people lying about different types of brokerages. How would that let me make money? Some extent. Their mindset is tripped down into the flashy things they have seen on the internet. So they think trading is all about quickly getting the money made from there. They don't understand it's the whole foundation. This thing I just told you can take you almost three to six months to study that. Mindset has not even come yet because it takes 21 days minimum to even start realizing you want to build a habit because since it's six days cut. So maybe we can go into that later on. But then this is just a technical standard that before you even go to the trading view to mark up your chart, you need to understand what supply and demand means as an economic model before you go into the chart. So if you cannot run a coffee shop, what do you think you can do in the market? It's the same concept. You can run a coffee shop, you cannot trade because it's a business. So these are the foundations they need to understand. So naturally, right now, when I sat down, you know, before we started the whole entire conversation at the back end, you know, you said something about ROI and all of that. Those things that you are saying is no more standard foundation you understand. It is helping you though in your trading without realizing it. If you don't have this knowledge, how do you get into the market? That is the first step. In my own opinion, that is the first step. Nature, the foundation of it. Even if you don't start now, you will come back again. Or your experience will let you learn it by force.

SPEAKER_00: 51:03

When complete beginners come into the market, the first thing they ask is, okay, so how can I how much can I make with the$100 that put in the market? Right. And that is where they get it wrong. That is it. My brother has said it all. Like, that's the mindset. I think for about 60% of traders or newbies that come into my DM, okay, and please I have$10,000 or I have$1,000. How much can I, how much, how long will it take me to get$50,000? As if it's some sort of investment, you just put your money in and then you just leave it, and then they come. No, you know, a lot of people that actually think that Forex is a scam. Let me let me tell you how they think. They think that, okay, so it's some platform, just put your money inside, and then you'll be watching the thing going up and down. Huh. I'm telling you, that's that's how people think Forex is. But they don't even know that you can have that$10,000 and say that I want to risk only$2 of that$10,000 every single day. People don't know that. But yet they say Forex is a scam. Yet they compare it to gambling. How would you allow someone so ignorant about a job to convince you that forex is a scam? And that's the kind of generation we face ourselves in. Like it's so wrong because now we don't even have people that are uh actually speaking the truth, being bold enough to come out there and then um um um and make the corrections to what people are doing. I saw a video on TikTok recently where somebody was bashing another trader, somebody who has no idea about trading, bashing another Ghanaian trader, saying that how is this guy um making so much money from trading like this, and it must be it has to be a scam. Yo, listen, I was in Asia for a meeting and I was seeing people doing over a million every single month from trading. I personally spoke to one lady that that's from Brazil. I told her, you know what, can I have a look at your trades? Like what you said that made you believe. I asked her, can I have a look at your phone? She said, feel free. She I took it, I looked at every single order she took in a month, and I bet you she made over three million dollars in that same month. And here's me living in Ghana, in some remote part in Labadi, thinking that it's never possible unless it's scam. Why do you think scam can give you such an amount of money and not trading? Because of your mindset. So a lot of people have to deal with the mindset about this whole business before they can even come in. Knowledge is priority, but application of that knowledge is also going to play a role when it comes to your mindset as well.

SPEAKER_03: 53:17

So when we first think about going to the market, we shouldn't really think about money. No, no, we should think about knowledge, the skill set, and the mindset at least. Yeah. First, yeah. Then we think of then if we get that right, the money will come.

SPEAKER_00: 53:32

Yes. But before before that, I think let me just chip in something small. Um, trading is like a sword or a knife, right? It's a double-edged sword. It's like a double-edged sword, right? So as you are trading, it begins to expose you. That's how long it's gonna take. That's why it took him 13 years, right? Five years, it took somebody 11 years, it took somebody 12 years, right? Everyone is gonna be different because for you, you don't have a problem with discipline. For him, he has a problem with patience. Maybe for me, I have a problem with FOMO, fear of missing out on things. So I just want to jump in on trades. Like everybody has their own thing to deal with. So as you are beginning to trade, trading is now beginning to expose who you truly are, and then you need to start working on those things. How fast you work on them is what we call the experience. And that's what makes you that profitable trader. That's why I said earlier that when you hear a trader say it took me five years to figure this out, he was not talking about strategy, he was talking about mindset. The fact that, okay, for example, I said it, me, it took me discipline. Like I was so indisciplined in the market. I could fund, I could even buy a prof firm and lose it the same day. Several, several times. I could look, I could buy prof firms like like 10, right? In in in the space of two months and lose it all. It doesn't even take up to a week. What was I doing? I knew I had a 5% maximum risk in a day, yet I was I kept blowing them. What was that? What was that? It was not about strategy. Later on, you realize that the trade will go well. So, what was my problem? It was my mindset, it was my discipline. I had to work on that over the years.

SPEAKER_03: 55:02

Apart from the mind, there are external factors that can affect you as an individual. What are some of them that you try to keep away from as affecting you?

SPEAKER_04: 55:11

Um, environment is very important. You cannot be a trader and all your friends are medical doctors. It doesn't work like that. Why? Because at the end of the day, they are the way they talk, the way they believe things, the way they the things you talk about, it's not gonna even help you to naturally become the person you're gonna become. Um and so at the end of the day, what I always tell people is that for me personally, it's it's environment. If your environment is on point, it helps you in every single thing that you are doing. That is me personally, myself. That's what I think.

SPEAKER_03: 55:43

That means you also have to have a peaceful wife. I was waiting for you to ask me. Like I was ready to yeah.

SPEAKER_00: 55:50

For me, it has to be family and relationship. Right? You can't, as a trader, you have no business believing in like you as a trader, you have no business dating somebody who does not even believe in what you're doing. Imagine a trader, you're struggling, you're now starting up in life, and then your girlfriend wants to say, You won't go and find a better job and do. You're always clicking on the chart and stuff. I have friends that have gone through this experience. No, no, no, speaking of experience. They all believed in it. They all believed in it. Yeah, but yeah, that is it. Like, and uh, what's it say something, man?

SPEAKER_03: 56:24

It's just it's gone. You were saying that as a trader, you have no no um no business dealing with the world.

SPEAKER_00: 56:30

As a trader, you have no business like dating somebody who does not even believe in what you do. I remember when I started my journey, right? I was just like going on the charts, going on the charts, spending time every single morning looking at the charts. My mom will walk up into my room and be like, you do software engineering, Ghana Telecom, best of your class. What are you still doing here? Won't you go get a job? I'm like, Ma, this didn't work out. What is it you're doing? Trading. Today you come out, you're losing money, today you're making money. Like, what is this? You understand? I did not need that environment. Guess what? When I made my first big break, I moved out of the home. My mom was crying, don't leave home, don't leave home. This is your opportunity. You've made this money. You're supposed to go and buy some land somewhere. But guess what? I understood that new money is different from old money. You understand? Because I needed that different environment. So, what I wanted to put myself in that mode. So I rented myself an apartment. I moved out of home, right? And I decided to to to to be around those who are in the trading space. At a point, I even had to get my mentor coming to my mother's house and I said, You see, you see the life? Can you see the car is driving? All this is from trading. Before she believed.

SPEAKER_03: 57:35

Who was your mentor at the time?

SPEAKER_00: 57:36

Kojo Forex. I've I've always had one mentor, Kojo Forex. Till today, I've always had one mentor, Kojo Forex. Lovely guy. Yes. You know what? So much psychology for Kojo Forex. Kojo didn't teach me anything about technical analysis, or should I say, he taught me some stuff about technical analysis, but everything I know about Kojo today and why I call him my mentor is because of that mindset. I've been able to see, like the way you said you saw 6,000, blah blah blah. I've been able to see and see the wow. So I can definitely make this amount of money from trading. And that's how I started.

SPEAKER_03: 58:09

Cliff, what I do here is to let my audience know how they can also take charge of their lives, okay, financially, mindset-wise as well. It's beautiful to have you here, you know, as someone who speaks very much about the psychology and the mind game of trading. But my question really is do you think that somebody can become a successful trader that they can rely on the income of trading without doing anything else?

SPEAKER_04: 58:44

I think it's is it's relative. Okay. Um I think that it depends on the individual. Um I think there are some people that can, I solely, trading is all that I do. I am a pharmacist as well, but I don't practice pharmacy. Trading is all that I do. Um and at the end of the day, one thing that I would just basically say is that it all depends on the individual. But is it safe?

SPEAKER_02: 59:09

Do you only do trading? Is it only?

SPEAKER_04: 59:11

Because trading is you can't force the market to always give you money. It only gives you money when it is ready to move. Uh so if let's say today you have not made enough good money and you are you, that's where people blow up the account. Because if imagine your landlord is knocking on the door and you want to make the money now and go pay it, and it's not ready yet to move, as far as volatility is concerned, you're gonna rush and make mistakes. So, what I always tell people is that you always need to make sure, even though you're making money from trading, find a way to diversify the portfolio. Okay? Yeah, find a way. Even in the same entire market. So I break down this analogy to them all the time that for me, if you have like, let's say,$1,000, don't put all the$1,000 in one account. Diversify. All right? Um, put$250 or put$500 and call it groceries, put another$500 and call it bail. What you're doing right there is that you're separating the emotions because the money you make on um groceries$50 to$100 should be enough to buy some bread. But it's not gonna be probably enough to pay all your bills. But if you combine all the money together, what is gonna happen is that even if you make$100, you're not gonna know what to use it for. This is a big issue. So people don't treat it like a business. So for me, diversify, have different ways of assets you want to, you know, invest and so on and so forth. So to me, I feel like yes, you could live on trading alone, but as far as the reality of the business is concerned, it's too risky to play like that. Not even if it's not trading and you're just an entrepreneur, you don't want to have just one business, right? So I think that you should find something else and invest the money into it and also do something else. At least, and also as I always say, just find another hobby, something that you are passionate about. You know, for me, I love trading, I'm gonna lie, but I don't love it to the point whereby it's like this is all that I want to do forever. Because trading is an actual business, it's it's something that you are a performer. At some point, you need to retire. I'm not the only first person who started trading. There are many traders in this world that has come before us, traders of old. And they traded at some point, and you could say that now they were just making money from you know having a hedge fund or something. So at some point, you need to step back a little bit. You can't even mentally you won't survive. And some people didn't. What does it do to you mentally? To be honest, if I should be very okay, so if I should be very honest, uh there is an individual in the, you know, may he saw, you know, hopefully rest in peace, Jesse Livermore. He took his own life. He made millions of dollars. Millions of dollars, but he took his own life. People don't talk about him that much. If everybody talks about Jim Simmons, Warren Buffett, what about Jesse Livermore? At the end of the day, after making all these millions, he said he was a filler. Why? He wasn't fulfilled. So at the end of the day, something happened to the to Livermore. Something happened to him. And so people have unfortunately, you know, taken their own life because of trading. We don't talk about those sides of trading. It's real. Some people can handle the pressure. And this is why sometimes for me, when I sit down anywhere, I want people to understand the seriousness of this business. It's not all sunshine and rainbows and flowers and roses. It's not true. You know, there are people, I have sometimes people come to me a lot for consultation, and sometimes I can see a single mom talking to me about how she's devastated because she thought it was gonna make quick money to save her family, and she didn't. And I said, it's not true, though. You're gonna make money, but it takes time. And now all her money that was supposed to take care of the kids has now gone into trading. What do you want me to tell her that she can do it? That moment she's emotional. That is the reality happening to her right there. So for me, this is where my emotional state of being realistic about trading comes from. It's not because I'm just angry at somebody, it's just that people are losing money in their homes. And it's about time. We need to stop trying to let people think that all you have to do is to put money in their account and you make money. It's not true. What does it do to your mind?

SPEAKER_00: 1:03:00

Uh, before I answer that question, right, I'd like to say that trading in itself is a vehicle, right, to at this particular destination. So you want to treat trading like an um a platform where you're gonna make money and invest. Even the holy book says that you need to invest your money into seven different streams of income, right? So I don't personally think that uh you can just rely on trading. However, trading has sustained me over the years, right? And I learned to diversify my income. So as I trade, take out money, I put in this business, and then with time, I'm able to grow my personal account, grow it over time, get more, and then the process continues over time. When it comes to the mindset, um, as he was talking, I just remembered an instance where I made a good amount of money. I would just say that I think I made about$5,000 in a single day. I mean, that's normal for a trader of my caliber. And when I made that money, I wasn't happy. I remember very well that my friend was sitting by me. I was teaching him how to trade. Like where he used to come to my house a lot for lessons. When I made that money, he was so excited. He was doing the conversions for me in Ghana cities, and I was not happy. And he asked me, like, bro, like, you're not excited. Is it because like you do here every day? I said, No, it's not because of how I do it, it's because of how I made it. It's like, why? And I said, I took too much of a risk to make this amount of money. That is not, that is not, that is not what I really want for myself. You understand? I told myself I was gonna take this particular risk, and when I saw that the market was dealing with, I doubled down on my risk. I doubled up on my risk, I took more. So if it had gone against me, I wouldn't have been celebrating. So I wasn't really happy. So fixing that mindset is the big issue. So for the mindset, it can really mess you up emotionally. Trust me, it's very hard to break a trader's heart, like like romantically, it's very hard to break a trader's heart because we've been through the stress on the market. You like sometimes what we see as like as emotional is not emotional to us because you are here you are crying that oh, somebody's in your DMs, can you save me? I have to pay my rent of$2,500. Meanwhile, you just lost$1,500 or$4,000. And look at this guy crying, get out. But in the reality, the person really needs that money. I have the capacity to be able to take certain amount of losses. Somebody doesn't have that, so that can affect your emotional state as a trader, and that's why people like um that guy may still rest in peace, killed himself. You understand? Because you're not fulfilled eventually. That's why I said the goal is not to make money, the goal is what you do in the process. Like, are you able to fulfill yourself over that time during that period?

SPEAKER_03: 1:05:36

Cliff, what was your lowest moment in trading?

SPEAKER_04: 1:05:38

Oh, when I laid my hands on my account and prayed, and the accounts blew. I said, God of Abraham, God of Isaac, God of Jacob, please don't let my account blow. It blew. Yeah. And that was when I realized that trading is a business, it's not about your sentiment, whether you're a Christian or not. You need to respect the principles. And I cried. Uh when I was coming from Ukraine during the war, uh 50 grand, 50,000 euros in a single day. Yeah, it's exclusive. I have not shared this anyway.

SPEAKER_03: 1:06:15

I think you already spoke to me about how much you lost the last time we spoke. 35.

SPEAKER_00: 1:06:20

But I have an upgrade, but I'll talk about it. You have an upgrade, yeah. I have an upgrade ever since that podcast. Yeah, because as I said, it's a journey. You have to go through, you have to deal with the discipline. But that was not my lowest. Right? My lowest was um my lowest didn't even happen when I lost because I know that I'll always make it back. But my lowest was when I had to fend for my mom. She was not well. And in that period when she needed me the most, I had blew an account that I was meant to like sort out everything. And that's when I knew that nah I need to work on this thing. I need to work on my psychology, I need to work on my discipline. Because like, imagine that you have let's say five thousand dollars, your mom needed twenty-five thousand dollars for something, you've been able to grow that money, 20k, and then all of a sudden you just lose everything, and then the day comes, everybody's waiting on you, and like you can't. And I'm like, everybody's like screaming, Market God, you're doing so well. And then here's me, I can't even find for and of course I do a lot of good out there, but for my mom, I was not able to do that, and that's when I told myself that you know what I'm gonna work on this thing called discipline, I'm gonna work on my mindset, and ever since then, it's been a very good journey. It's difficult, I'm not even gonna lie. It's very, very, very, very difficult. But we still we're still moving regardless because that is life.

SPEAKER_03: 1:07:50

I think we've spoken a lot about the psychology of trading. As a matter of fact, I think if anybody's watching, they will see that there isn't a lot of technicals going on here. It's it's very much about the mind. And I love what you're wearing. Transformed by renewing of my mind. Oh, yeah, definitely. It's beautiful. Thank you. But at this point, Cliff, I would want to want you to teach me how you look at the market and how you make a decision. There's a board right there for you. Okay. So can I go there? Yes, yes, yes, definitely. Let's do it.

SPEAKER_04: 1:08:20

I mean, the first thing first, one of the things that's I always tell people this. Um, let's scrape the technicals, uh, the psychology out of it a little bit. All right. Let's start with uh the first thing is we have something called um the bias.

unknown: 1:08:38

Okay.

SPEAKER_04: 1:08:39

All right, you need to be able to understand what the market is doing per season, per moment. For me, the way I do it is that I don't trade any assets I've not followed for a while. It's not just about just looking at them and be like, okay, I can predict, it's about understanding the assets. So I trade NAS 100. So those of you who don't know what that is, uh, if you're watching this, it's basically uh the top 100 companies um in the United States, NAS 100. So with NAS 100, the first thing that I have to understand is that for me, the reason why I'm not gonna say it's easier for me to for people to get a wrong mindset here, but the reason why it's easy for me to understand how it works is because it's tech. So without even doing any technical analysis, I understand already in advance that we are going into more of the tech world. So that means Nasdaq is a default uh bullish, it doesn't even matter even if it drops down for a while. So that is the first concept that I have in my mind. But the first thing is you need to understand the trend of the market. Now, when I started trading in the beginning, there was a way we used to identify trend with just the average, you know, trend lines, and uh we started with moving averages, all right, back in the days, it's more class and stuff. But now uh we actually basically look at uh the market structure changes, all right. So the first thing is I have to identify the trend. Then after I've been able to identify the trend, I need to be able to understand what we call the POI, the point of interest or the place of interest, however, we want to call it. So the POI is normally for me is the supply and demand. Because if you want to buy or sell, you need to know where the buyers or the sellers are. If there are no sellers in the market, how then are you going to be able to move this? Then after you have been able to identify the POI, I need to be able to make sure I connect this POI into what we call the multiple time frames of different POI together with the structure of the market at that moment. So let's say, for example, you can go on to a daily, let's say I'm an intraday trader, but I can hold trade for a while, like I can swing as well. So let's say, for example, my highest time frame, of course, that I look on is the monthly time frame, which is the M. Now, what I do on the monthly time frame is to understand the overall trend of the market for that season. Then I will go all the way down between daily and then weekly to just understand what the market is doing per that season as well, and then I drop down to four-hour time frame. Now, the four hours, what I'm doing there is that I want to understand what the market is going to do in that day. So now let's say for example, so we have something called market cycles. All right, we have the accumulation phase. Can I just put A?

SPEAKER_02: 1:11:08

Yep.

SPEAKER_04: 1:11:08

If you're watching, I hope you understand this. So accumulation A. Now, when what happens during the accumulation phase that the market accumulates others? Okay, so psychologically, uh, we call something inducement. So, so inducement is like, let's say, for example, I want to take uh Marcus God cookie, you know, on top of maybe a giant. I don't want him to, but let's say I've seen the cookie first, and I go like, oh, the cookie is not here, I think it's in the room. All I want is I'm not trying to manipulate him because I'm being bad, I'm just trying to make sure that I get a cookie for myself because I'm more hungry. That sounds bad, but that is just a reality. Why does inducement happen? Why do you need to understand inducement a lot? Because you need to understand the market moves by structures. So I always tell people this that you need to respect the structure of the market because the market respects a structure. So, what is inducement? Inducement is when the big boys, when I say the big boys, those who have the money to move, um, they are basically going to move large some amount of money, but they don't want to move it in such a way that will cause chaos in the market. So it has to move in a way in orders, which is more larger than ours. So you need to understand what is happening. The accumulation phase is when the market accumulates orders. So normally you will find the accumulation phase in the area where we will normally call the demand areas.

unknown: 1:12:31

Okay.

SPEAKER_04: 1:12:31

So the market will now obviously be moving sideways. You know, that is where it will cause fake outs, whatever one. All that it's doing is that it's trying to make sure it picks up others so that it doesn't move with its own money, but of course, other money around that. Then now you will see a big bang. And that is where sometimes normally, if it's not a real big bang, you'll be like, oh my god, it's going and leaving me. And then fear of missing out will catch on you. So FOMO normally happens when you think the market is leaving you behind. But I always tell people this that if it's going to actually go there, it will come back and call you. That is the mindset that I always use. So the accumulation phase will break. If it's not gonna go there, it will create what we call an imbalance. So the imbalance simply means that the market is switching up now. Now, the moment that that candlestick starts breaking, that this whole area here is going to now come and start creating what we call the marker phase. Now that means the market is rolling up now. Now, during the markup phase is where we can get market structure, like what we call the higher highs and then the higher lows. So you don't want to buy from here because it's too expensive. If you walk into any shop right now and they tell you that they are going to sell their product for a thousand dollars, but then if you wait for four days, you will get it for$800. Common sense-wise, you wait for four days. Unless maybe you have the buying power. I don't know. But come on, logically, you wait. So you don't want to buy from where the market is pricey, so you want to wait until it comes to the other point. Now, the market will always respect the structure. Always. It doesn't matter whatever you believe. So at the end of the day, it will keep on forming the markup phase, markup phase, markup phase, then it will get to the area where it is ready to distribute again. So we call it the distribution phase, which will now start creating what we call the mark down phase as well. Now, between this phase here, this is the reality. Let's say if I was on the daily time frame, if it's doing exactly so the market, it doesn't matter whether it's daily, four hours, it does the same thing, just takes longer in different multiple time frames. Now, my entry confirmation normally is under 15 minutes. So all the things that I do on monthly, daily, weekly is just one that's not what the market is doing. But I need to make sure that it connects well with my four hours, one hour, and then 15 minutes. So I will not take my entry on the 15 minutes. Now, someone's gonna ask me, Cliff, what is your confirmation to take your entry? Well, very simple. Technically speaking, I need to see a change of character and I need to see a breakout structure altogether on my 15 minutes connecting to the one hour, and then I take my entry. But that is not my final confirmation. My final confirmation is the money. I ask myself, can you afford it? If the answer is no, it's not my trade.

SPEAKER_03: 1:15:08

Wow, that's good. Thank you very much. That was fantastic. Yeah, I hope you guys have enjoyed it. Now, if you're enjoying this, leave a comment. Um, write what you're learning in the comments. I really want all the traders and all the people that are trying to be billionaires by trading to just leave in the comment. But I think this episode has been slightly different. Um, it's been more of a mind preparing your mind rather than you know telling you this is what you're gonna do to be able to pick the money. Right, and I want to give market God the opportunity to also show us what it looks like on the market, okay.

SPEAKER_00: 1:15:52

Alright, guys, so um, when it comes to the market, there are just a few things that I look out for, very, very important. First of all, um, when we talk about buying or selling a market, we are thinking about the fact that we want to be going in accordance. For example, if we hear that land in East Ligon is going to be, you know, more expensive times a hundred, right? Definitely, if you have the buying power now, you jump in early and then wait as price gets higher, then you decide to do what sell-off. That is basically a foreign exchange. That's basically an exchange that has just happened, right? So, when it comes to the market, we have about three major types of market. We have um um sorry, we have three major types of market structure. We have uptrends, we have downtrends, and what we have what we call consolidating markets. So, consolidating markets are in real life, for example, you've bought a product and then you want to sell, and then the product is just ranging at the same price, there's not significant movements, it's just like you can't really buy, you can't really sell, there's not so much significant profit on it, right? So, for example, in an uptrend, right? We know that price is going to the upside, right? And in a downtrend, we know that price is going to the downside, meaning that if you are trying to buy the market when it is in a downtrend, you are going to be losing money, it's as simple as that. Now, one of the rules is that the trend is your friend, meaning that anytime you see an uptrend, you want to be buying and not selling because you cannot go against the trend. You're a retail trader, you cannot you don't have enough money to be able to go against the trend. So, as retail traders, what we do is that we go in accordance, we try to jump in when the market is buying, and we try to sell in when the market is selling. It's as simple as that, and for more um simple reasons, we stay away from what consolidating markets, as I explained earlier. So, now when the market is in an uptrend, it doesn't just move up just like that, right? So, a typical example is you hear today the dollar per city is at maybe 14 cities, tomorrow it's at 10 cities, tomorrow is at 12 cities. You saw how the dollar came to 16, 15, and then it's moving up and down. Basically, that is showing you the true structure of the market. So, meaning that the market has highs and it has lows, it keeps having highs and it keeps having lows, but you realize that over time, even though there were highs and lows, significantly it keeps going higher, meaning that that market is what an uptrend. And in forex trading, technically speaking, we have them as we call the higher highs and then the higher lows, right? So, as soon as we begin to see series of these higher highs and series of these higher lows, then we can say that this is an uptrend, the same for a downtrend where we will we are going to see the market forming lows, lower highs, lows, lower highs, lows. So the moment we begin to spot these lower highs and then these lower lows, lower highs, then we can say that this market is in a downtrend. The key factor here is that we want to see the market creating significantly more lows for us to know that this market is in a downtrend, right? So, now how do I jump in on trades? Well, for me, when I'm trading gold specifically, when I'm trying to jump in on the market, I like to jump in on the market on significant areas. Now, what do I mean by significant areas? To make it very simple for you guys, the areas that I mapped out as my higher high and higher low areas are always going to be my significant areas, meaning that if that market is going in an uptrend, higher high, a higher low, a higher high, a higher low, a higher high. Now, in an uptrend, always know this rule. You always need to buy the market when the market creates a higher low or an equal low. So that means in an uptrend, I'll always be looking to buy the market at a low and not a high. So, where are my lows? Obviously, these are my lows, these are my lows. So, I'm going to be marking out a line over here, and I'm going to be waiting for price to come into my low areas. If price doesn't come into my low areas, there's no way I'm going to be buying, and that's where patience is really important. So, for example, if I I watch the market come all the way into my low, I'm now going to be looking out for some information over here. Obviously, we cannot have a full crash course over here, but try to understand how I look at the market. I'm going to be looking for some information over here, like candlestick patterns, influence and news factors that give me the confirmation that okay, it's time for me to jump in on trade because we have something in forest called candlestick patterns. Basically, candlestick patterns tell us the dex direction of where the market is going to go, they are like signals. For example, if you see me saying, obviously, I'm trying to draw your attention or tell you high, so that means you need to respond. So that means there's certain signs that we see on the market that tell us that this market is going to go to the upside, and there are certain signs that we'll see, even when price comes to the low, it's going to tell us that nah this is a weak information, right? For us to buy, think of it like a pilot, it's about to take off, and all of a sudden they have a dark cloud, they're able to check on the Orion and tell that no, no, no, no, this weather is going to be very bad for flying. So, please, we are going to reschedule our flights. Basically, that is it, like the forex market. So, if I see a very good information that tells me to buy, I'll be jumping into my trade at this low point, and I'll be buying to the next significant high that the market had already created, and then from there, I'll see whatever the market is going to do from there before I take advantage of it. So, pretty much simple, not so much, but very simple. Thank you. Thank you.

SPEAKER_01: 1:21:20

I think this is this has been useful. I think we can discuss the whole day.

SPEAKER_04: 1:21:35

But then most importantly, I think this conversation is enough to give somebody light bulb moment if they want to embark on this journey. It may sound like we spoke about little things, but in my own opinion, I think like they go far away for them. I wish I would have seen this podcast when I started trading in the beginning.

SPEAKER_00: 1:21:59

But for me, I think I rather encourage a lot of people that are doing bet. I don't like to you. Yes. A lot I see a lot of people online always trying to argue that uh you know bet is better than forex, always the same. It's nowhere close, truth be said. Yes, and I would really advise because it's not only um just going to make you profitable, but you also get to understand a lot of things in the financial space and you can grow yourself with time as well in the market. So we see like a lot of youth today that uh enter the betting space for one major reason to make money quick, right? The fact that you can just put your money double it on just some two games, that's chance, that's a game of chance. But here in forex, it's a game of skill, right? And that makes the big difference because think about it. If you see if you call forest a scam, then it means that Bank of Ghana is also a scam. Because they deal in foreign exchange, and that is forex trading. That's what they do. That means that all the big banks and institutions that we see are also a scam, double down to retail traders. It is just how you see the fact that I don't even know how to put it for it to be clear. The fact that somebody is living a lie, right, does not make the truth a lie. I don't know if that is going to sound deep in the ears of someone. The fact that somebody is living like, for example, if someone is out there, you know, trying to show you a lifestyle that, you know, forex is this, forex is this, the person is a lie, but it doesn't make forex a lie. Right. I don't know if you gave me somebody comes and says that yes, you can make a million dollars, blah, blah, blah, blah, blah, blah, blah, blah, and the person eventually scams you. He has scummed you. But the reality is that forex can actually do that for you. I haven't made a million dollars yet, but I have touched over a hundred thousand plus, over two hundred thousand plus, over three hundred thousand plus from this market alone. You understand? So I can confidently say that if you understand what you are doing and if you decide to build yourself, then you can be able to do exactly what you want to do.

SPEAKER_03: 1:24:06

Clever. Yeah. Motivation or discipline?

SPEAKER_04: 1:24:09

Oh, definitely discipline. And let us define that well. To me, I define that as being loyal to the decision you made. Yeah, that's the definition of discipline for me. Being loyal to the decision you made. So the next time that you say you're not disciplined, you're basically saying I'm not loyal. And uh, when you want to be disciplined, you need to have a routine. I think a lot of people don't have a routine, and that is a big problem. For me, I think the one thing that I want people to understand a lot is that it takes a while to become a trader. I think I want us to make peace with that. You know, it will save a lot of mentors' time because people stress us a lot. Uh but for me right now, if I see messages like how long will it take me, I will not reply because I know that you don't have patience. So at the end of the day, that is the truth. If somebody doesn't have time, you are in trouble. You know, so for me, I think number one is time. Number two, get the right knowledge. When I'm at three, one thing I want to say, and I'm glad that market God is here, is that we as mentors, we have a lot of work to do. Uh because um we keep on making it look like when I I stop telling my people that I meet that, oh, you are not disciplined, you're not emotional. In my own experience, from the little that I've known now, is that people really are not that bad as people think. People are not that ignorant as people think. They are only ignorant because the information that they need to make them who they are supposed to become, people are not giving that. And that is why I'm grateful for this kind of podcast because this kind of podcast is very important. Because now, imagine if you know people like Market God is not in this industry, then people are gonna think that they're gonna just get away with that. Yes, it's true. Trading is not a scam. I mean, forex is not a scam. The financial market cannot be a scam. But there are scam. Football is not a scam. There are people scam people in the football industry. So at the end of the day, all I'm trying to basically say is that these are the three things I want to say. As an individual that wants to become a trader, be patient. Number two, you need to be able to understand that trading will make you money, but it won't make you the money the way you want it. Right. And then last one, please. If you're a mentor and you're listening to this, we have a lot of work to do. And that is all that I'm gonna be just saying.

SPEAKER_03: 1:26:21

What's the best advice you've ever received?

SPEAKER_00: 1:26:33

Especially as a trader. You know why? Because you get to a point in your trading journey where it's like a slowball effect. Close your eyes, you buy, market is going away. Close your eyes, you buy, market is going away. You're seeing the money coming in, and you want to flex, you want to show people that yeah, I've got it, I can do it. Like for it's gonna be this, for it's gonna be that, and you're just on top of yourself thinking that it's gonna last forever. But in reality, it's not gonna last forever. So you have to be ready for the down days, there are bad days in every business, and you have to be ready for yours because that moment can really break you. So you have to be prepared. Everybody's gonna experience a down day in their trading journey. Just make sure yours doesn't take it to your grave. What's the best advice you've ever received?

SPEAKER_04: 1:27:25

I would say that your trading life and your actual life they mirror each other. So whatever happens in your actual life reflects in your trading life. Whatever reflects in your actual life, also the opposite as well.

SPEAKER_03: 1:27:38

What's the best trading book you've ever read?

SPEAKER_04: 1:27:41

Uh it's about to come out, but then yeah, definitely. Um uh trading in the zone is one of them. Yeah. Um Burgess's psychology book is also another one of them. Um, I think even if you're a trader, you need to read Secrets of the Millennium Mind. Very good book. And one more book that I will add is uh Think and Grow, it's very good book as well. Even if you're a trader, you need that book. It doesn't matter because as a trader you need to expand your financial tomorrow start. Yeah, so I think these books uh they are very good books, and I think um uh uh Ray Dalio also have amazing good books on trading as well. Uh I can go on and on and on and on, but for me, I'm telling them that they need to mix it. Yes, yes, it's very important.

SPEAKER_03: 1:28:31

Yeah, I think I've asked you this before, yeah, but I'm asking you again.

SPEAKER_00: 1:28:34

But for now, I don't really love trading books, I just love to read more on finance, okay, and the best book I've ever read. In fact, I've read the book nine times, and this month I'll be reading it again, which is The Richest Man in Babylon. It's that big, it's that big, you can do it. I'm telling you, I'm telling you, it's a good book. I'm telling you, it's really a good book.

SPEAKER_03: 1:28:57

Yeah, all like yeah. What I'd like to say, thank you so much for your time once again. I don't joke with people's time. So thank you so much, um, the two amazing people that we've had here. And if you made it to the end, I'd love to know in the comments and share this conversation because there are traders all around the world who needs to benefit from this information. And I really want to know that you did share it. So when you have shared it, come back and let me know that you're a true connected champion. And to those of you who are still asking for how to join the community, you can go to connectedacademy.com to join the next call that I have with my entrepreneurs. I'll leave everything in the description details about market code and details about Cliff. It would all be in the description so you can access them. They both have their own YouTube accounts as well. An Instagram account, so I'll attack all of that so you can see there's gonna be tons of information in the description for you. I'm no longer gonna leave you out. I actually have a surprise in the description for you as well. My name is Derek Baite, and it's been awesome having you here with me. Stay connected.