How were you introduced to trading? My uncle was a day trader of US stocks and suggested I might be interested in them….after time I went onto FX.
After how much time did you become a consistent trader? It took a few years, mainly due to psychology more than anything else.
Do you have a specific trading plan? It’s pretty basic. I prefer to find major points on a chart, normally related to a large round number. When they are numbers being broken that are monthly in nature – I become much more aggressive.
Please describe your trading routine? I am an analyst by profession, so I am constantly watching the markets.
Do you have any risk management techniques? If so, please, elaborate? Under normal circumstances, I risk only 1/2 percent per trade. As a general rule, I don’t risk more than 100 pips, even on long-term trades. I NEVER trade against a longer-term trend.
What was your biggest challenge in trading, and how did you overcome it? Psychology of taking losses. 5ers helped a lot because of the forced parameters.
What was the key moment of your trading career? There are many, but the day I earned a full-time job as an analyst is one of the biggest.
What do you think are the most important characteristics for maintaining a stable trading career? Understand that there are opportunities all of the time. Also, you need to understand when you should NOT be trading.
Do you apply any mental/psychological routines while trading? Not really, at least nothing in particular. The one thing that will help is looking at the longer-term charts and understanding that any one trade is but a blip on the radar.
What was your strategy for successfully passing The 5%ers’ Evaluation Program? I was pretty consistent most of the time with looking at round number support and resistance. When the EUR/USD finally took out the 1.20 level on December 1, I got aggressive, mainly because it had been so important for so long. When something like that breaks – it normally means a huge move.
Please share your recommendations for online resources that were/are significant in your trading development. babypips.com is a great resource if you are starting out. I also would recommend reading anything by Dr. Brett Steenbarger.
Would you like to share anything else with us? Just to thank you for the opportunity.
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