Meet Matti Salokangas
Matti has been with Trading MasterClass for just shy of 1 year, and it was obvious almost immediately that he was here to stay. Matti has the commitment, discipline, and mental fortitude needed to become a successful trader - and to absolutely thrive in this industry! We have no doubt that Matti will achieve all of his trading goals, and even more. Matti’s consistent participation in our members’ club + his willingness to share as he learns (simultaneously) does not go unnoticed. Check out the full interview with Matti below, and make sure to connect with him in the club!
When did your trading journey first begin?
Late in 2020, I started to dabble in some trading, mostly swing trading equities. At that time I knew basics, like support and resistance, moving averages, and indicators like RSI or MACD. I did not have a formal strategy, and ended up making a lot of mistakes! It was pretty frustrating and although I did have some wins, I knew that in order to have consistent returns, I needed more education and a community. Later in 2021 a friend of mine introduced me to TMC and it’s been exactly what I’ve been looking for!
What was it that made you want to pursue trading?
Freedom. I wanted to have the ability to go on more adventures, spend more time with family and also be able to do something that was really interesting that I could do anywhere.
What is something unexpected that you love about trading?
The magic of the the Elliot Wave Theory and the Fibonacci sequence. It still blows my mind when I draw out fibs on an impulse wave and see it run perfectly to its anticipated fib level. To me this creates an element of trading that is rooted in our natural world, in the psychology of humans and the world at large. It is fascinating to study it and have tools for navigating it.
What advice would you give to an inspired, driven individual about to step into the trading world?
Be patient, work hard and stay humble. It is a path laid brick by brick, where you have to learn one thing at a time and it cannot all be learned at once. It will take longer than you expect, but just continue to believe in yourself, never give up and show up every day willing to do whatever it takes.
"Never give up and show up every day willing to do whatever it takes."
When you fall short of your expectations, you have to continue to pick yourself up and keep going. Believe in yourself. Work hard. Improve. Repeat.
How has Trading MasterClass assisted your evolution?
When I first got into the portal and saw all the content, I just remember being so excited. The content is expansive and I knew that it was exactly all the things I wanted to learn about. Irek is a great teacher and knows how to break down complex concepts and deliver them in a way that is easy to learn and digest, so I found that I learned things really quickly. I also really appreciate his teaching style; he’s very grounded and straight forward. Simply by following the structure of the course and engaging in the community I feel as though I have leapt forward in my progression faster than I imagined.
"The content is expansive and I knew that it was exactly all the things I wanted to learn about."
Are there any members from the TMC Club who have profoundly impacted your journey? Why?
Many members have helped me out in one way or another. One member in particular helped me through a low point in my trading. Alan Lowe had been in TMC for quite a while and I always admired how solid and consistent of a trader he is. So, I just reached out and told him what I was going through. He quickly got back, gave me feedback on all my trades and helped me realize what I needed to change. It was exactly what I needed to hear and am super grateful for that!
How has a ‘perceived failure’ set you up for later success in your trading journey? Tell us about this ‘failure’.
My perceived failure was failing phase 2 of a prop firm challenge. I started off feeling great and my first trade I banked 2% and only needed 3% more. For the remainder of the month I didn’t have a single win. It was agonising after working so hard to get so far only to come short.
Looking back, all the lessons I received were actually necessary for me and I see how even if I did pass, I could have missed out on them. Through this experience, I ended up making course corrections that were absolutely necessary and am now more confident and ready for the next challenge!
When you’re experiencing chaos, struggling with your performance, or are in draw down, what do you do?
I get back to basics, my routines, and make sure that I am doing the little things everyday that I know bring me joy. I will then go back through my trading plan, back test and review winning trades. Often times when I get into these places, I also question my ability entirely. When I’m ready, I will wait for an A+ setup, set easy targets, and execute the trade as mechanical as possible. Getting that win under your belt is almost like an out breath; it is confirmation that yes, you can do it.
"I get back to basics, my routines, and make sure that I am doing the little things everyday that I know bring me joy."
What is your most memorable trade to date? Why?
CAD/JPY swing trade on July 26, 2022. I closed it out at nearly 5% and shortly there after I closed a couple of other JPY day trades and passed phase 1 of the trading challenge I was in. My partner and I celebrated by getting sushi and it was amazing!
What is your next immediate trading goal?
Grow my trading accounts to 7 figures.
Any final words of wisdom?
Start training your mind and do whatever it takes to strengthen your ability to remain calm, cool and collected. Fear and greed can make you behave uncharacteristically. A string of losses can put you into a state of despair and will have you questioning everything.
"Start training your mind and do whatever it takes to strengthen your ability to remain calm, cool and collected."
No matter how much you have backtested or how solid your trading plan is, it doesn’t matter if you do not have the mental fortitude to deal with volatility or a potential losing trade. There will be a point where the limits of your mental strength will either make or break a trade and at that moment you will know how much work you have to do.
How can we keep up with you?
You can follow me on Instagram: @mattisalokangas or find me in the TMC Slack community.