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iFT: Did you really win $10,000 in the trading contest and was it actually real money and not just a credit in a trading account?
CW: Yes, they added the funds to my account and said I could trade or withdraw the money at any time.
iFT: Wow, congratulations! So are you going to trade the full account?
CW: No, my goal is to be a consistently profitable trader, and I am not there....yet!
iFT: What have you decided to do instead to help you reach your goal?
CW: I have decided to use a portion of the winnings to further my development as a trader and in order to do this I believe I need to invest in my education and find a program that offers a sound successful method of trading in a structured and disciplined environment.
iFT: And do you believe you have found such a program?
CW: Yes, and that is why I have decided to invest in the iFT Master Trader program.
iFT: Congratulations and welcome to the team! What made you feel this was the right place to be and how did you first learn of Oliver Velez?
CW: I first became interested in the markets while working towards my MBA in finance and investments which I completed in 1993. Soon after, I began to educate myself through various books and videos and after seeing Oliver at a trade show, I bought his swing trading video. I had noticed that Oliver was always a strong presence at the Traders Expos. Throughout the years that followed I continued to attend various presentations at the Expos, including those given by Oliver Velez.
iFT: Did you begin trading at that time?
CW: No, I was just getting started and felt it necessary to really make sure I was well educated and trained before I was willing to put my money at risk. I participated in a few seminars and attended a few more Traders Expos.
iFT: When did you begin to venture into the world of active trading?
CW: In 2007 I was introduced to actively trading FX online and having the ability to trade micro lots really allowed me to “try it out” without really having any big financial risk. I enjoyed it and continued to work at it on my own having a belief that I could do it successfully. I utilized internet instructional resources, joined a local meeting group of FX traders, and spent a few months in an FX trading room which was very helpful and informative. It reinforced my current belief; that without the proper education and training, trading can be very dangerous to your financial well being.
iFT: Were you able to become consistently profitable on your own over the last three years?
CW: I achieved some early success, but I have not yet reached my goal of being consistently profitable on a daily basis. I have learned from my experience and I am better than when I started and I have proven to myself what I always thought to be true; that proper training and education is vital to becoming a successful trader.
iFT: If you were not able to do it on your own, why did you not give up? What made you think it was actually possible to be successful at trading?
CW: I have always had a belief in myself and my abilities that I could become a successful trader and felt that I just needed the right education and environment to improve upon my talents. Then, while at the NY Traders Expo 2010, I had attended all the Oliver Velez events and spent some time talking with the people at his booth. They informed me that Oliver was going to provide a 6 week free trial to his live real time trading room, so I decided to see for myself what they had to offer.
iFT: What was your experience during that 6 weeks?
CW: I was impressed, actually I was very impressed. The room was being led by Dr. Dan Mielcarski and he was demonstrating a consistency while daytrading equities that I had never seen before. He was calling and taking trades in a very timely and transparent manner and at the same time explaining with very clear and detailed information all aspects of the trade – entry, stop, trail methods and targets. He was predicting price behavior with a very high degree of accuracy and consistency and it seemed like each day I watched he was doing the same thing over and over with the same results. I enjoyed how he called and commentated the trades from start to finish in real time, not in hindsight. I witnessed someone who had a sound method and the discipline to implement a solid trading plan. It was great to see consistent profitability being achieved and to know that it came from a trader who was a product of the method being taught in the program.
iFT: After your experience in the trading room, where you convinced it was time for you to start trading your own account at a much higher level of risk capital since you saw how to be a successful trader?
CW: Absolutely not! Although I saw someone doing it very well and on a consistent basis, I also knew it was not an easy thing to do and that for me it was just not reasonable to expect to become a successful trader over night or by just watching someone else do it. I knew I still needed to put in the time and effort and have a desire to succeed that was strong enough to survive the learning curve and I needed to prove to myself I could be consistently profitable at least on a small or simulated account before I felt it was wise to put significant money at risk.
iFT: So did you join iFT after your trading room trial was over? Why or why not?
CW: No, and the main reason was I had only been trading FX and at that time the equity program was the only offering available.
iFT: So now a year later, after winning the FX trading challenge at the NY traders Expo, why have you decided to use your winnings to invest in the iFT program?
CW: I feel that for me, at this point in my trading career, it is the best choice I can make to give myself the greatest chance at becoming a successful trader. The program has everything I feel is important in terms of structure, discipline, and a method that teaches repeatable price patterns that I can learn to use to generate profits on a daily basis.