Yahoo Finance This Single Mom Turned $300 Into A 7-Figure Trading Account In Just 5 Years — Her Advice To Anyone Else Getting Started
In a November 2022 YouTube interview with Trading Nut titled “Single Mom Takes $300 to 7-Figure Trading in 5 Years", Alyse Amores, a successful trader, shares her journey from being a single mother working in the hospitality industry to managing seven-figure trading accounts.
Amores's story begins with her decision to venture into trading as a side hustle to supplement her income. With an initial investment of $300, she set out to conquer the world of trading. “My first goal was to supplement that side hustle, so literally it’s like if I can just make five, six hundred a week and replace, you know, Lyft and Uber, then that’s already great for me,” Amores said.
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Amores set a clear goal: to earn weekly what she was previously earning bi-weekly at her job. By doing this, she said she was earning two to three months of salary in just one month. Within six months, she had saved a year’s salary, enabling her to leave her job.
As a single mother with family responsibilities, Amores emphasized the importance of cautious planning. “I couldn’t just leave my job and hope for the best. I had to be prepared and ensure I had a safety net for my family,” she said, highlighting the balance she had to maintain between personal ambition and family responsibilities.
Throughout the interview, Amores emphasized the importance of continuous learning and seeking mentorship. Her approach to trading is methodical, focusing on building a strong foundation before scaling up. She highlighted the critical role of risk management, saying, “Risk management only works if you’re following it.”
She stressed the importance of learning from verified sources. “The main thing I always say is to try to learn from a vetted person,” she said. “This means having some proof that they are who they say they are. It saves you time and headaches. You don’t want to attempt a master strategy, only to find that they’re teaching beginner-level material when you’re at an intermediate or advanced level.”
Amore’s journey is marked by her transition from trading small, personal accounts to managing large funds. This progression included experiences with percentage allocation management module (PAMM) accounts for forex and proprietary trading. Reflecting on her experiences, Amores said, “The thing about trading other people’s money taught me accountability.”
Networking played a significant role in Amores's career. She acknowledged the power of building connections and being open to new opportunities. “You never know who you’re talking to,” she said, underscoring the potential of networking to open doors to larger trading opportunities.
Amores's trading strategy centers around liquidity, volume and high-probability setups. She approaches the market with a keen eye for where liquidity is and how it’s redistributed. “I’m always trading in line with liquidity,” she said, illustrating her tactical approach to trading.
The psychological aspects of trading are not lost on Amores. She discussed the importance of mindset, visualization and handling the pressures associated with trading large sums of money. Amores has learned to manage these challenges gracefully, contributing to her overall success.
Amores has set ambitious goals for herself, including trading multimillion-dollar accounts and eventually reaching billion-dollar allocations. Her story is not just about financial success; it’s about overcoming challenges and pursuing one’s goals, making her an inspiration to aspiring traders worldwide.
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