An Unexpected Start in Forex
At 31 years old, Oghenetega Everest A. from Nigeria represents a multifaceted personality. Not only is he a great Forex trader, but he also delves into the creative realms of photography and photo editing. A passionate reader and a music enthusiast, Everest combines analytical and artistic skills.
The very start of Everest’s trading journey dates back to 2019. It all began with an interaction at a utility payment center, where a conversation about profits in trading piqued his interest. This led to a pivotal discussion with his cousin, an active trader, who provided him with initial guidance through YouTube tutorials and suggested resources like Babypips for basic knowledge.
Learning from Mentors and Markets
Everest’s journey is marked by his proactive approach to learning. He expanded his expertise through connections with mentors in a free Telegram channel dedicated to Forex trading. Everest distinguished himself in this group by prioritizing knowledge over signals. He actively engaged in their free educational Zoom sessions, absorbing valuable insights that significantly shaped his understanding of Forex trading. One of the mentors’ books, “Trading or Gambling” by Muzamel Azizyar, was particularly influential in his development.
Everest openly shares the psychological challenges he faced, particularly the temptation for quick gains and a lack of patience, which often led him into trades prematurely due to FOMO (Fear Of Missing Out). His story is not just about the acquisition of trading skills, but also about the journey towards developing the right mindset and discipline essential for success in trading.
Everest’s Balanced Trading Approach
Everest Agomate is a dedicated swing trader, utilizing a combination of technical and fundamental analysis in his approach. This style suits his preference for capturing trends over several days or even weeks. He leverages Myfxbook for calculating lot sizes and relies on TradingView for a broad range of analytical tasks, underscoring the importance of accurate tools in successful trading.
As a swing trader, Everest frequently engages with various Forex pairs. His approach is based on waiting for the perfect opportunities, which might not happen often. This means he has to be picky about choosing the best trades.
Mastering Risk Management
In terms of risk management, Everest exercises caution, generally risking about 0.5% per trade and occasionally 1%. His aim for a 10 RRR (Risk to Reward ratio) reflects a strategic balance between covering losses and securing profits. Usually approaches losses with a level-headed mindset, accepting them as part of the trading process. He avoids setting absolute expectations for each trade to prevent disappointment and subsequent psychological impacts.
His trading environment is streamlined yet effective, involving a tablet and PC for detailed analysis and a mobile phone for placing trades, highlighting the focus on functionality and simplicity.
The Pursuit of a Trading Dream
For Everest, the primary driving force behind his trading journey is the aspiration for a better life. This simple yet powerful motivation fuels his dedication and commitment to the trading world. He believes that the foundation of long-term success in trading lies in maintaining a strong psychological stance, adhering to one’s strategy, and committing to constant education. These elements, when combined, form a robust framework for enduring success.
Keys to Trading Proficiency
When questioned about the key attribute of a trader, Everest answers concisely: Patience. He considers this often-ignored skill crucial for success in the trading world, emphasizes the significance of patience, and encourages beginners to develop it. Additionally, new traders commonly struggle with impatience, which tends to lead to hasty choices and poor results in their trading.
Everest’s Experience with E8 Funding
Everest first came across E8 Funding on Twitter, a platform that often serves as a gateway for traders to discover new opportunities. The aspect of E8 Funding that he appreciates the most is the website interface. A user-friendly and intuitive interface can significantly enhance the trading experience.
Triumphs and Challenges
So far, Everest has successfully earned over $30,000 through E8. Interestingly, he didn’t even buy an account but won one in a contest on E8’s Twitter.
He notes that the most challenging aspect during the evaluation was the common desire to pass quickly and get funded. This impatience led him to make some really bad traders. However, he overcame this by engaging in activities like watching movies and playing games to relax and refocus.
Passing the E8 Challenge, according to Everest, has significantly changed his life. His success story is a testament to the transformative potential of dedication and skill in trading, especially when combined with a supportive trading ally.
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