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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Risk Disclosure: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Hypothetical Performance Disclosure: Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.
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