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Day Trader Documentary - A Day in The Life of A Multimillionaire Forex Trader - Optimized Transcription:
Go on, let's do it together. My currency of choice is the Kiwi dollar. I would say that it's stressful at times, but he somehow manages to make things happen. I don't know if it's going to pop, but we think we'll be able to show consistent returns. I strive to enjoy certain things in life.
Hi, I'm Nick McDonald from Think Huge Investments, where we offer retail traders the ability to invest capital with professional managers and have it traded on their behalf. FX Life is by far our most popular, managed by a good friend of mine, Jeff, from Toronto, Canada.
I just returned from a few days with him during one of the most volatile periods of the year, amidst the Greek situation coming to a head, providing plentiful trading opportunities.
It's 6:20 in the morning, and I missed the first two trades. I start at 5, and unfortunately, you were sleeping. Quick second coffee for the morning. My first two trades were about half an hour ago.
On the platform, resisting pressures from the IMF, they've positioned themselves over time to do things that other countries have done to make their financials more competitive. Okay, hey Nick, see, right, this creates an imbalance. I'm just looking at the pound. You see how the pound's reacting? That's what kind of level we'll be looking at.
I took it there. You're right, we said 50. Should have 240, 44 to 7. Meet up, another trade. Oh no, that was a great recap on the ISM, close the gates. Dow Jones update, how closely close properly under.
Yeah, the only hairy fish you got. Just one pip. Let me just see. Nobody lost. All broke even using the band 3280. They all broke even. What's that? Release USCIS manufacturing 52.08, online employment 51.7, spacewalks 9.5, live ones 55.8, construction spending 2.5. So if we cap them, the headline is fine, expected. Isn't home, but it gets previous at 51.7 before, is 8.3. Should close the trade prior to the news. Again, each flower vases, obviously, the news guys back.
Close the trade. You get this fly and, of course, decent number on the US. I said that's just part of the game. A deterrent to injury, to get me a pencil. Over the years, they've been with it. Should consistently return, live it, enjoy three things in life, and one of them is to buy a Tesla.
You hear that? I mean, that was even close to going down from 36 and one all the way down to 24. I'm not going to. I got 14 pips. It's not worth it. Finalizing a deal, my knees, feet, school dances got stopped early. Euro short, every day different. One of the banks, let's go back up.
When the Nexus got stopped, editors, who are the worst traders in the world. Yeah, so given any more opportunity, Delta market, it's a deal with lots of connections. Pretty boy to animal. I think that's what's for breakfast now. I'm afraid I will miss everything. No, okay, especially with the Euro all over the place. We just have a sweetie. Normal reckoning, perhaps, if you want. Spoiling ward off his bone.
It's very nice. Just walked in from now. We lost each other. What happened? I'm just trying to catch up. What I took a trade to when I saw you get what happened. Euro dollar just going through the 111 handle to the upside. So some further momentum just picking up in the currency markets here. So further stops above the 111 handle. Just took a second turn. Consequently, also lifting. Came up to fresh highs. My serve, or the other Kiwi, got to fresh highs. So let's be more seemingly. We've got that weakness helping elevate things across the board. We'll also stop strips at the Oregon through 111. Already, pips we're launching. A beautiful, not sure. Waiting. The citizens gonna call back.
Declining sales, 100%. Yes, go ahead, man. Do not focus on my hair. Yeah, what's going on? It's a whole dollar. So I'm just, you know, I know. Yeah, no, I know. Here I go into. I just went to. Went up to that briefing that starts with on Twitter. This is still far from a deal with Greece. So easily, simply says credit is extended. Alright, so let me talk you through what just happened. We were out having some breakfast, and the Euro spiked about 90 pips. As we get back and continues to pop higher. The Euro subsequently puts another four or five trades on, so the managed accounts used trading made about 10 grand in the last 20 minutes. And his personal accounts, his master account also made a bit of money across the board with his mams that he's running with us for Think Huge Investments, in addition to his account, in addition to his private clients. He probably made a good 50-odd grand.
I don't think Jeff is really like anyone else. I would say that it's stressful at times. It's just a little bit of walking. Encourage each other. Sure, well, it is. He has, he's, I think he's very conscious of the fact that he has a lot of people that are depending on him, especially with the forums too. Because he tells me when people say, you know, are excited or say positive things. So I know he's conscious of that. So he has to be conscious on the other end when they're going to say negative.
Would you have it any other way? He's lucky. He married somebody who, who's willing to take, you know, risks in order to get ahead. You're willing to accept that? Absolutely, thank you. Happy risks your life, but it was also, I mean, it wasn't such a blind risk. I was betting on him. Yeah, so he somehow manages to make things happen all the time. Yeah, it's never gives up. I will give him that. I know that he has, he's my ball next to him, a bed, an iPad, and always listens to the news 24 hours a day. Let's go, be hard to handle. I know. I think we just, I am so used to that, and I think even before currency trading, he was always busy with something. So now he's just busy with this all the time. It's funny. First up, yes, he doesn't, it doesn't stop. Yeah, that's okay. It's just part of it. Yeah, I think in order to be successful at anything in life, people who are very successful, they eat, sleep, and breathe what they do.
Alright, so Jeff, can you tell me a little bit more about each shot and what you're looking at? And Lauren, I'm looking at this price action. The Euro has broken, made a pop, way overextended to move 247 pips. I'm down 92 pips on
this trade. I'm not concerned because I only have one position open. I'm looking to add to it. And I'm looking at the price action, and I'm watching the news at the same time, saying if there's any news. I see they're talking about potentially a deal with Greece, but my view, the Euro will go down after it eventually might pop a little more, but over time, the Euro is going much lower. I think I like the dollar $3.40 level.
Yeah, so I'm in $1.1080, but I'm really not concerned. On my charts, basically, these candles I'm using are called fat wicks, and it allows me to look at the price action a little more easily. And there's no colors, so they're not color-coded. And then I've got some proprietary lines I've set up for support and resistance. That's basically, that's basically my charts, in the pivot, and that's really it. They're not my complicated, but I'm used to them because this is what I've been using for the years that I've been trading. So I have no plans to ever change these charts. They're sort of designed for me specifically, and they work well for my trading.
What's on that screen? Oh, this screen basically is my new screen. I mean, I'm at the Dollar Index Twitter. I've got pretty fluent Widow. Oh, different people I follow, everyone from Zero Hedge to Live Squawk, ECB to basically three or four news sources. And then I follow, I use Ran Squawk for news, or some people might know them by Talking Forex, but I use the more professional version, which is Ran Squawk. And then the bottom left, you go, that's just my Reuters feed. I got, you watch Reuters, yeah, sorry, not Reuters. That's basically it. And as far as the Dollar Index goes, I watch out for support and resistance for and see if it's breaking out. If the Euro was following that Dollar Index, we had a trade here.
Dow Jones update, so you just heard it said Dow Jones update. So that's Dow Jones. It was wire there until this, you just said it, right? Yeah, lots of old deli, lots of old Tilly. So our plan is to finish street, to go for my daily run. Helping you do that every day. I usually, every day, except for when I have, you know, visitors, but maybe the day off. Was that just getting rid of dust? That's my desk. Keeps the dust bunnies away from my computer setup. You know, behind it, but all my AnyPC box is switches for internet back up, we got a wireless modem, and then this, that's it. And then my setup generator.
So, talk me through the trade. Oh, it's, what are we at the moment? It's up, let's break it. I just know it's up, like, two pips right now. Basically, I got one trade, 87 pips. I'm probably in that, to get out of it maybe. It all depends on how news flow, what happens over the next few days with Greece. If Greece does do a deal, the Euro may go up a little more, but it's going to eventually sell off because everyone expected it to go up more than what it really does. Then people start looking as an opportunist, more traders to short it into this range. And so that's what I will do. So, right now, I got a second trade open. I'm going to probably scalp this trade to see how it plays out in the next ten minutes. And then what I'll do after that is I'll look to add at a later time. But we've got a lot of news this week, so I'm not in a rush to add, and I'm going to space out my trades quite a bit when I am adding.
So, what's going on these many full five pips? Maybe I don't got to see. Ah, it's now twelve point seven in a day. London's gone home. I gotta see how the pound reacts right here because the pound looks like it's getting taut, baby. If the belt starts retracing, the Euro should follow suit. And the CAD at the same time, you should also bounce from here. This is actually a good spot to buy the CAD, but I'm not going to buy the CAD right now. It's too late. I tried to stay into one pair, you know. If I'm in a little bit of a drawdown on a pair, I'd like to be in one pair at a time. And I'll trade around the drawdown. Many times I open up next account on one screen because I want to see how their subs are doing for the signal service, how their fills are. So when they close, I always keep in mind the price action to try to get them as close to me as possible in terms of pips. It's right now we're up five pips, six pips, five pips.
You feeling excited? No, this level, no, nothing, nothing. No excitement, no nervousness. Just now, I'm looking at the pound. I'm looking to go higher. Earlier today, the subs missed one trade, but I was, cause I did entry, and I sold it right on the top of this spike here. And with a copier, it's very hard to pick that off in terms of, you know, them copying off of me. Which were, this first by cradle here, I'll, you, it's 1191. It'll be very difficult for anyone off of a copier to get that. White man's got it. They were actually pretty, cause that's locally copied. But you know, it's just tough in that type of move without looking like a candle with that, you know, overworked billion today. You were watching really closely. Click on the edge. ESC, whereas Nason, much more relaxed. Was that more coffees? Okay, well, I really hope you guys enjoyed seeing what it's like to live the life of a multimillionaire Forex trader as much as I enjoyed filming it. Jeff is a really interesting guy. He leads a very unique and very intense life. Ultimately, he loves what he does, and that is what makes him such a great trader.
I'd like to extend a big thank you to him and his wife, quality, for putting me up in their lovely home while I was in Toronto. Shortly after we met in Toronto, we organized a conference with some of our best clients in Las Vegas. And during that, we filmed a question-and-answer session for the benefit of you guys. So if you'd like to check that out, please click on the link below or click through to our YouTube channel. If you'd like to allocate capital to FX life and have it managed on your behalf, it's very easy.
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