The Founder of the Institutional Trading Concept (ITC), Mayowa Owolabi, has revealed the battle every financial trader must fight to become successful.
Africa’s most sought-after financial coach made this known during a live training session on his YouTube channel. In a lengthy discourse, the financial analyst used his life experience to teach others about becoming successful.
In this post, we’ll be taking a look at the full transcript of the session. For beginners and traders in the forex market, this will surely help you to get there if you take account and follow the path mentioned here.
Full Transcript on ‘Battle Every Trader Must Fight’ By Mayowa Owolabi
How It All Began
So it all began as an amazing guy who was willing to succeed in 2009 while I was working in the bank. I was working in the bank for five years and I was staying with my cousin who was trading for the bank. He was in the treasury department and the treasury department he is in the security trading department. I discovered that there is an arm of a bank that made a lot of money but I never knew about them until I worked in the bank.
I worked for 5 good years and had my experience in the bank. I discovered that this department in the bank is most valuable after salespeople, so the salespeople have their strengths but this department has their values. The C.E.O loves them because of what they deliver every single time.
This is what got my attention because apart from them being paid every single month, they are also being paid commission every single month, they are paid a commission quarterly or yearly. They are in the profit-sharing team, they share profit with the banks so that got my attention and I told myself I was going to do everything to learn this skill set now.
Immediately I moved into this zone the next thing I did was go in on the internet. Now that was a very long journey for me and that’s why I tell people that it is a long one but you can shorten your own the journey was that I went online and I was battling with what is the best strategy. I was battling with how can I win and that is the same thing a lot of you are going through right now. You go to the internet every single time you lose a trade and you are about to change your strategy when you blow an account you want to change your strategy.
If you are there if you’ve experienced this before put in some energy right there because if you don’t agree if you don’t accept your failure you, cannot become successful. You need to move into the state of accepting that this failed. You failed in this area now, you did not fail as a person but a failure is an event in the journey of success.
I was in this zone for four good years. I was changing strategy every single time and each time I changed strategy, I always feel that I was going to get better. I changed strategy to a level that I could not even keep count of what I have used as a trader in four good years. So 2010 when I funded my account 2010, 2011, 2013, that was about over three years that I was changing strategy.
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I’ve been there before and fast forward to 2013 when I resigned from the bank in 2014, I did not trade 2015, I did not trade 2016, and I did not trade a live account in 2017. I resumed back to trading in April so for about three and a half years, I was trading demo. Some of you will never want to trade demos because I lost all the money I see. Because I was working in the bank, there was so much capital for me to trade, so each time they pay me a salary I was funding my capital, and I wand as funding my trading account. Each time I was funded, I was unfunded
The Change of Story- Getting a Mentor
I moved from there to another phase of my life in 2017 where I accepted my losses and I identified a mentor in 2018. I sat down and told myself this is the mentor I’m going to follow either I lose a trade, or I lose an account I will follow this mentor. This is what changed my trading experience.
I decided to accept and take responsibility for my trading journey. A lot of you are throwing your journey, throwing our responsibility to that strategy, you are returning your responsibility to that mentor, you are returning your responsibility to that coach that promised to mentor you, and the person did not deliver and you are so much angry.
That is the psychology of trading, you have anger issues. You are angry because you lost an account you are angry because you lost the trade and all of these we’re going to be talking about today until 2018. I began to experience the reality that what I wanted it didn’t get there until 2020 and 2022.
I’m still experiencing the amazing decision I took in 2018. Okay, so this is me you’ve seen some of my results on YouTube. You’ve seen some of my results on the telegram group and I decided to stay away from posting results because this has made a lot of people to get attracted to me.
There was a time I posted how I flipped from $190 to about $7,000 in less than three weeks. A lot of people got attracted because of that I got the time I dropped in or out and I flipped $70 to over $50,000. A lot of people got attracted to me but I don’t I didn’t like what they were coming for. They were coming for that miracle, they were coming for that sudden wealth.
They forgot that I was enjoying the investment of over seven years, they forgot that I am enjoying the investment of 7 years. They want that sleep, they want that result of how I am doing over 20 to 40 percent of my trading account quarterly, they won’t double. If you want to learn from me, learn from me, don’t learn from me because I’m making money learn from me because you also want to make money, and don’t expect miracles.
So I decided to stay low on my results because I was attracting, ”Mr. Mayowa hey I just saw your result on YouTube want to learn your strategy, I want that result ”.
I love it when people come to me, I love it when my YouTube gets a lot of watches, and I love it when people talk about me. I don’t like it when you’re coming for my result and you don’t want to accept my journey. You don’t want to accept my route, you don’t want to accept my process.
Somebody walked up to me the other time, he said ‘‘Mr. Mayowa I don’t like the fact that we don’t pick a trade in a week” and I told him, ”if you don’t like that fact come on go to people that trade every day” but the question is I know all the trade that gave me results this year. There are just seven trades, about seven or eight trades that gave me the result. One of them did over one thousand seven hundred percent of my account.
Just one trade I know those trades so if you want my kind of result, you have to also experience what I’m going through and that is what trading is all about. I’m here to challenge you today that this is a battle because there are bills to be paid every day, bills to be paid every month.
To be Continued