TopTradr were privileged to interview Greg McLeod, CEO and founder of ForexPaydays.com, a coaching and mentoring company dedicated to helping retail traders reach their goals of turning pro.
Among many others, Greg coached Tracey Anderson; an Australian trader who placed 2nd in last month’s TopTradr competition. With a success story like that, we wanted to find out a bit more about Greg and his path to success.
TopTradr: Greg, Tell us a bit about your background:
GM: I grew up in South Central Los Angeles, the birth place of gang culture, but I knew that education was a way out of the inner city. I graduated from the University of California Los Angeles with a Bachelor’s degree in English. I then taught middle school and high school English for 15 years. Only later did I enroll in an MBA program.
I first began trading commodities and options, largely soybeans and yen. I continued to educate myself and began trading stock and options, even working briefly with a prop trading firm. I left teaching and traded full time until an opportunity opened up at one of the large retail Forex firms. I worked there for 8 years as a Trading instructor- teaching thousands of students and eventually rose to the position of Currency Analyst.
TopTradr: Tell us about your trading style?
GM: My trading style is breakouts from consolidation.
A favourite mantra repeated by traders is “the longer the base, the higher the race…” This means that the longer the price consolidation, usually the bigger the move either up or down.
Since I scalp, I look for 1:1.5 or better for a risk to reward ratio. I also like trading multiple lots and scaling out of the position to enhance profit potential. I incorporate Elliott Wave Theory, Fibonacci, Pivots Points and Supply/Demand levels.
TopTradr: What are your thoughts on TopTradr as an opportunity for retail traders to turn professional?
GM: I believe the TopTradr contest is a great way for traders to prove to themselves – and to the world – that they have what it takes to be a professional money manager. Unlike other contests which encourage bad habits to achieve outlandish returns, TopTradr created a performance evaluating system that encourages good trading habits that could lead to a long-term sustainable trading career.
Soon, we’ll be posting Greg’s Top 5 trading “Do’s & Don’ts”. Greg clearly knows what it takes to make it in the TopTradr contest, so make sure not to miss these 10 trading insights – coming soon to the TopTradr blog.
If you would like to be in with the chance to manage TopTradr capital, all you need to do is create a live account by following this link.
The TopTradr Team
is the next step in the evolution of social trading: an influential companion app, that provides a verified measure of your trading performance and spotlights talented traders. We provide you with the platform to help you get noticed and start trading professionally.
With the TopTradr algorithm every Tradr has the chance to be ranked, recognized and rewarded.
You can trade with a demo account, but once you have signed up for a live account you will gain access to our rolling contest. Calculated from a 3 month trading period: we reward the best TopTradr every 2 weeks with a $75,000 equivalent hedge fund.
Take the chance to showcase your skills and be rewarded on the platform for profitable traders.