Errol, An Ex Proprietary Trader Shares The Ugly Truth on The Real World of Trading

Errol is an Instagram growth and marketing expert and also a profitable professional intraday trader. He learn his craft by previously working for a professional proprietary trading firm.

He started online trading after taking a 3 day trading workshop which he ended up busting 4 trading accounts and coupled by loosing his day job back in 2016 nearly bankrupted him.

Taking a step back and not wanting to give up on life and trading, he persisted by joining a proprietary trade firm as an intern at an age of 36 years old. It is there that he learn from the ground up as to how a real professional trader trades the financial markets. He further educated himself on Economics.

He applies his knowledge of Macroeconomics, Sector Rotation, Defensive Analysis, and Financial Psychology to his trading craft. He specializes in short-term trading techniques including Swing Trading, Day Trading and Scalping, Errol is known for his unique way of trading which is both psychological and defensive. He incorporates both Macroeconomics and Financial Management to his defensive approach to trading.

Having been a victim of his own financial illiteracy that nearly bankrupted him between 2016 and 2017, Errol now helps and motivate ordinary people to embrace financial literacy and money savviness. He is also a very strong advocate on having multiples sources of income besides having a day job.

Apart from his day job which is an offshore worker, he spends his spare time by trading the U.S. markets in particular, the S&P 500 futures. He also trades the Hong Kong Hang Seng Futures which he says is the most notorious of the markets. His specialties are in Day Trades and Scalps.

In this interview he states that the majority of people are sold on a dream that trading is a “get rich quick” and living the life of a multi millionaire. In contrary it’s not the case. He quoted “people should erase the illusion on what everyone sells them about the trading world.”

Realistically, trading is about creating a sustainable and consistent income.

If you find yourself having to trade to pay your bills, you’re in trouble. If you’re forcing a trade to pay off a debt, you are going to experience more pain and debt.

Trading should be an alternative income stream that improves your life with the extra income. It should be about having the freedom to trade when you have a trade and taking the day off if there is nothing to trade.

A $10,000 capital should return you $300 on a single trade as an intraday trader if you are risking 1% of capital to gain 3% return per trade. You are looking at $300 average/day that works out to around $6000/per month and $72,000 annually. That’s realistic.

Real trading should gain you the freedom to do the things you love, it improves your life and not the other way round. Even if you are just starting to trade, learn to do it the correct way, practice your craft and perfect it before you start trading with real money. You would not want to fly on a plane with a half baked pilot would you? So why should you risk your most precious capital on trading when you are not ready to trade with real money?

This is something we all ought to think about.

IG username @iam.candid | @iamerrolchin

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Company Name: Logic Solutions
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Country: Malaysia