Today, we have the pleasure of interviewing Ayo Atoki, aka @ayodimej1, a dedicated forex trader from Nigeria who also has a passion for public health, ecology, and even a bit of chemistry. Ayo’s trading journey started back in 2013 when he was searching online for a skill that could earn him some extra money. At first, the world of forex trading and MetaTrader seemed confusing, but Ayo’s curiosity kept him going. It wasn’t until 2020, when a friend introduced him to Babypips, that everything began to fall into place.
Ayo’s trading strategy combines price action, volume, and RSI—a method he developed through careful study and practice. Without a mentor to guide him, Ayo relied on resources like Babypips and books by authors such as Steve Nison and Mark Douglas to learn the ropes. He also uses Stoic philosophy to help manage the emotional ups and downs that come with trading.
In this feature, Ayo shares what a typical trading day looks like for him, how he manages his time between work and trading, and some of the biggest lessons he’s learned over the years. He also offers advice to new traders, stressing the importance of gaining experience and being patient.
Ayo’s journey shows how determination, self-learning, and a passion for improvement can lead to success in trading.
Without further ado, we welcome you, @ayodimej1
1. Tell us a bit about yourself. Where are you from? What are your hobbies, interests, and favorites?
I’m Ayo Atoki, I live in the Republic of Nigeria. I’m very much passionate about public health & ecology. I also enjoy taking entry-level Chemistry.
2. What inspired you to become a forex trader, and how long have you been trading?
My first knowledge about trading was in 2013 when I was surfing the internet for a skill I could do alongside writing that would earn me some money. Even though I didn’t trade then because I had no mentor or resources to learn from, only MT4. This was the story: when I surfed the internet and discovered forex trading, my next question was, “Where could I trade this thing called FX?” My search led me to a platform called MetaTrader. My curiosity made me download MetaTrader with no prior knowledge, only to find a quote with blue and red numbers listed like a matrix board.
I was confused at first, until late 2020 when a friend of mine asked if I had heard about Babypips. It’s been a different story ever since then…
3. Can you walk us through your typical trading day? How do you manage your time effectively?
Any day is my trading day. On managing my time, I open my chart when I am less busy at work to check for market reaction and see if there are possible buy or sell targets. My analysis would have been made prior to that, as I draw out my analysis during the night when I am back from work.
4. What’s your trading strategy and how did you come up with it?
The funny thing is, during my course study at the School of Pipsology, I was getting familiar with trading, so like any other amateur would do, I traded only candlesticks—selling when I noticed a hammer and buying when it was a rising star. I couldn’t use this for long as it wasn’t a merciful experience, even while their underlying theory still stands; because a rejection pin should mean a rejection and reversal, but I was wrong hitherto. There was more to it…
I added Volume; traded when there were many participants in the market, because it showed there were times when the volume was low, and I decided to trade. Boom, something came in, and these guys didn’t choose to be on my side. Not until I realised the volume only indicated activities going on in the market, and these activities were pushed by various factors, of which their destination was unknown even to the participants. But its very nature was luminous as it revealed the current stand from where it was coming. Yet, with this alone, I still had losses that made me realise there should be more to candlesticks, which led me to ‘Price Action.’
With Price Action, I realised various technical patterns from the candlestick’s archive, support and resistance, to the very basic principles of supply and demand. It feels like reminiscing about high school economics once again. Price Action’s combination with volume was a groundbreaker for me, but my addition of RSI changed the game.
5. How do you deal with the psychological challenges of trading?
Very fascinating question—I’m a Stoic philosopher, and applying my Stoic principles to day trading has not only helped me deal with the psychological challenges that come with trading’s P/L and P/R but has also assisted me in managing its uncertainties.
6. What books, courses, or mentors have had the most significant impact on your trading career?
Mentors? I never had one. I started from scratch on the how-tos of trading, all thanks to Babypips School of Pipsology—a significant course.
As for books, Japanese Candlesticks by Steve Nison helped me with my understanding of candlesticks, Rayner Teo’s Ultimate Guide to Price Action on price action analysis, The Swing Trader’s Bible by Matthew McCall & Mark Whistler on volume, and The Disciplined Trader & Trading in the Zone by Mark Douglas on understanding market psychology.
I still have all these books as eBooks on my cloud storage.
7. What is the biggest lesson you’ve learned from your years of trading?
A lot of lessons, but one is most significant: 'Nothing good comes easy.
8. What’s one mistake you think new traders often make? How could they avoid it?
New traders make a lot of mistakes, of which I have been a part. But one major mistake I think is paramount is that we give in to inexperience.
Inexperience in strategizing—dumping and jumping from one strategy to another without proper forward testing.
Inexperience in our ability—we see a lot of people on social media passing Prop Firms and posting huge rewards, which makes us doubt our own abilities.
Inexperience in the very nature of trading—our inexperience in this aspect makes us give in to FOMO.
Everything takes time. If we start giving things their time, maybe, who knows, we could be the next big thing waiting to happen in that very field, but we just didn’t see it.
9. If someone is about to give up on trading, what advice would you give them?
If it’s no longer fun, drop it.
10. Non-forex related question: If you could only have one food for the rest of your life, what would you choose and why?
Pounded Yam! I love it and its tradition.