Meet Mike Garrett
Mike has been a valued member of Trading MasterClass for roughly 2.5 years. He is a hardworking, engaged, committed trader and an integral part of our community! Since joining Trading MasterClass in 2020, Mike has hit many impressive milestones, and we believe he's just getting started. We can't wait to see what's in store for Mike’s trading career, and we couldn’t be more honoured to be a part of it. In this interview, Mike shares some key advice for new traders, and gives some invaluable insights that he gained throughout his journey. Read Mike's full interview below!
When did your trading journey first begin?
I have been interested in trading for a few years but didn’t know where to start. After looking at a few courses I felt unable to trust the reviews so decided to continue with my career as an Osteopath. When Covid first hit the UK, I had to close my practice. During a family discussion about other career avenues in July 2020, my mother mentioned a neighbour who was a trader, it turned out to be Jonny (a previous key TMC Team member). I jumped at the opportunity to speak to him - this would be my first encounter with a practicing & successful trader. We had a long chat a few days later and I signed up to Trading MasterClass that same night.
What was it that made you want to pursue trading?
There’s so much - the financial freedom, the laptop lifestyle, the fact that your results are correlated to the effort you put in. I also love the challenge - I found it very difficult to learn and I get a massive kick out of overcoming big obstacles.
What is something unexpected that you love about trading?
This probably sounds a little immature but it reminds me of the computer games from childhood that I loved – going round different levels (currency pairs) looking for and collecting all those extra hidden gems/points that give you a better reward at the end of the level.
What advice would you give to an inspired, driven individual about to step into the trading world?
The market moves in specific, repeating ways. That’s why having too many inputs when learning does not align with success. I’d say the best way to learn is having one course and learning everything you need to know from start to finish. Then if you want to progress from there you can learn another approach from start to finish etc… but don’t try to mash different approaches into one ultimate strategy (I know I’ve been there).
"I’d say the best way to learn is having one course and learning everything you need to know from start to finish."
Another really beneficial learning technique is to reverse engineer the pros. When developing your trading plan, questions will naturally come up. From here, go through the tutor’s examples and you’ll see the desired scenario occur. The tutor’s decision is the answer you need. I repeated this process for every question I had - took a few months but it’s worth it.
How has Trading MasterClass assisted your evolution?
As well as the education being world class, the community is unreal - having so many driven individuals in one space gives you such a boost. People like this are genuinely so hard to find. From my friends my age away from trading, I am one of the only ones not working 9-5, so having the Slack Group support helps keep you motivated.
"As well as the education being world class, the community is unreal."
Are there any members from the TMC Club who have profoundly impacted your journey? Why?
Kris Daunys (a previous TMC Team member) has been unbelievable - his work ethic, motivation, energy and determination to provide extra details on my many questions has been so helpful in correcting my mistakes and developing my trading plan.
When you’re experiencing chaos, struggling with your performance, or are in draw down, what do you do?
The trading plan is my saving grace. Having everything nailed down lets me know that I haven’t done anything wrong. The loss is just part of the game. I find when I’m in drawdown, being able to think ‘this strategy has a 70% strike rate so this is just part of the 30%’ brings me so much peace and allows me to execute the same strategy again without an overbearing fear of another loss.
What is your most memorable trade to date? Why?
Back in in August 2021 I had a lucky streak. I wasn’t clear on my trading plan but managed to execute 6 successful SBO’s in a row resulting in a 20% month which paid off my tuition and previous losses - that was a great moment in my trading career.
What is your next immediate trading goal?
To get funded - I’m currently just polishing off some final pieces from my trading plan and hope to go for funding soon.
Any final words of wisdom?
Relax and allow yourself time to learn. Trading is like another language. It takes time for your brain to adapt, grow and hopefully become fluent (I’m still working on the last bit). Also, don’t be disheartened if you don’t get it immediately, like I said previously I found it difficult to learn and wondered if it was for me more than once but I’m glad I pushed through that.
"Relax and allow yourself time to learn."
How can we keep up with you?
Yes, of course. My instagram is @mikeyglife