Conversation with a trader
Question: Are you good at higher mathematics?
Answer: No. With great difficulty.
Question: Have you probably read a lot of books on trading?
A: Almost all of them.
Question: What conclusions have you drawn?
Answer: The theory works, but their systems do not.
Question: A beginner trader should study them?
Answer: Yes, of course. But do not try to trade using these systems on real account. They all are losing ones. You can try it on demo accounts, it will be useful.
Question: Do you deal with autotrading?
A: No.
Question: Why?
Answer: I trust my hands and head more.
Question: Can you program in MQL?
A: Partly.
Question: Do you trade on the stock market or forex?
A: Only on Foreign Exchange.
Question: Why?
A: I amgood at it.
Question: They say that the stock market is easier, is this true?
Answer: Maybe, but I do not need it.
Question: Does the higher education interfere or not?
Answer: It does not bother me, I only regret the time I have wasted getting it.
Question: How do you choose a brokerage company?
Answer: Choose the biggest ones with at least 5 years of experience.
Question: How many brokerage companies have you worked with?
Answer: Eight.
Question: Why not just one? Did you have any problems?
Answer: We did not have any problems. They are just DOs, what should you expect from them? I just do not put all my eggs in one basket.
Question: Did you have any problems with getting the money ?
Answer: Iwould say no. One brokerage company took two weeks to transfer the money, but they did it the next day after we called them.
Question: Can you earn $2 million at one brokerage company?
Answer: I would not try to do it.
Question: Is there a limit?
Answer: There is. Now I work through other people, my relatives with different names and IP other people.They have accounts on them and I manage them.
Question: How many accounts do you have now ?
Answer: Five, in different brokerage companies.
Question: Is it easy todo that?
A: No, I am used to it. I do not deal with scalping.
Question: What is your attitude to scalpers ?
A: Idiots.
Question: How do you feel aboutscalpers ?
A: Half-idiots.
Question: How many trades do you make a day?
Answer: Per day, a maximum of two. A week, a maximum of five.
Question: Do you work on Mondays and Fridays? Do you retain positions on weekends?
Answer: Yes.
Question: Onone currency pair or several?
Answer: Several. I use 6 pairs. I enter only on the pair where there is a clear and understandable signal.
Question: How many open positions do you have?
A: Not more than two. This is the limit.
Question: Do you usepending orders ?
A: Yes.
Question: What is your attitude to stops?
A: I use stops only as a last resort. I usually exit based on a pattern signal.
Question: Howoften doSL work?
A: Very seldom, in less than 2% of cases.
Question: How did your relatives react to what you have started doing?
Answer: In the beginning negatively, but then, when I started earning money, their opinion has changed greatly.
Question: How and when do you rest?
Answer: Mostly at my dacha, sometimes in the countryside: forest, lakes.
Question: Turkey? Egypt?
Answer: I was almost everywhere. I did not like it in Turkey.
Question: Where is your security?
Answer: I do not have security.
Question: Why not?
Answer: I am not that rich. I bought myself a knife and a gun, took a self-defense course. I think, it is enough for now.
Question: Is it a firearm?
Answer: Traumatic. But, if "at point-blank range", it could kill.
Question: Have you ever used it ?
Answer: In practice, no. I had just been trained.
Question: What do you need asix-room flat for?
Answer: Thereare two flats. One is a three-room apartment, the other is a two-room one. I put them together and a quarter of the corridor is mine. Two children's rooms. A hall. Bedroom. Dining room.
Question: Where's room six?
Answer: I made it out of one kitchen, it's my office.
Question: Is the6th room enough?
Answer: Not at the moment. I would like to have two more: a gym and a Jacuzzi.
Question: Regardingthe office. How many computers do you have on your desk?
A: Four. One is the main one for trading, the second one is a spare. The third one is for other things. The fourth is for information.
Question: Do you have a UPS?
Answer: Yes, of course. Four of them. Powerful, enough for 3 hours of work.
Question: How many internet channels do you have?
Answer: I used to have one, now I have two.
Question: What is your relationship with your friends? Do they envy you? Are there many traders among them?
Answer: None of them are traders.Relationships are good. Envy, of course, does exist.
Q: Let usgo back to trading. What is your attitude to Elder?
Answer: Clever man, but his strategies are ineffective, I don't think most traders can make money from them. It is useful to take from him - "three screens".
Question: What timeframe do you work on?
A: From30 min. to a day timeframe.
Question: Do you use smaller timeframes?
Answer: Atmost, it should be 15 minutes, but not below. I do not use weekly timeframes seldom.
Question: Whattechnical indicators would you advise?
A: The MA and RSI. I do not use anything else.
Question: Do you have a chance?
A: Of course, you have a better chance than others .
Question: Why?
Answer: BecausePhD candidates and doctors have one advantage - they know how to learn. In our business, this is very important. Nobody can teach you, only you can teach yourself.
Question: Does it mean that courses at a DC are useless?
Answer: Not really, sometimes it is worth going. But I did not go to them myself.
Question: Is it happiness for you? Money?
Answer: Freedom.
Question: Do a lot of people ask you to teach them to trade?
Answer: Some have asked. You cannot teach, you just have to learn.
Question: Why is it that the majority of novice traders do not understand the market?
A: Laziness. Lack of motivation, as you would say.
Question: Can I post the answers to your questions on the Internet forum?
Answer: Yes, you may, but after my censorship. No personal information.
Question: OK. What is your advice to beginner traders?
Answer: You need to study a lot to be successful, let them do it.Who does not do this, he will leave Forex with a broken face.
I have not invited anyone and do not intend to do so again. I consider it a good idea to communicate with traders by email, in person or in person. It's true that face-to-face meetings are difficult.
I was only joking, don't take it personally ))
Did I get that right - incognito does not apply EAs? Only with his hands?
which or what patterns does he apply?
Thank you. It's a good topic in general, a necessary one.
I'll add my own case. Not a conversation, but a phrase, but a very important, key one. The background is this...
I communicated with a very serious trader (I still am, we have not crossed paths for a long time), 7 years experience, several published TCs, some of them are well known to you, some of them were even sold quite well.
When I started talking about one of his TS and he passionately tried to describe its advantages and examples of great profits - his own real cases... And I asked him, like Captain Hindsight:
- If the system is so good, why do not you work with it now, and continue to look for entirely new methods ...?
And then the professional replied:
- A system ( any system) works, but only when the market matches it.
Curtain.
I have not invited anyone and do not intend to do so again. I think it is a good idea to communicate with traders by email, in person or in person. It is true that face-to-face meetings are difficult.
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Question: Tell me, how long have you been trading?
Answer: Eight years.
Question: Many traders start with losing deposits. Have you had any failures?
A: I would say everybody starts like that. I lost my first two deposits for a total of $1,800.
Question: How much you have earned on Forex market in 7 years in total?
Answer: Two million dollars approximately.
Question: What did you do with the money?
Answer: I bought a nice 6-room flat, 3 cars, 3 garages, 700 sq. m cottage with a sauna, garages and 40 sotka plot. Paid all taxes. Helped his relatives and friends. With part of the money - about $600,000 - I am now working on forex.
Question: Why do you have 3 cars?
Answer: One is my wife's and two are mine: car, or rather a jeep and a cargo-passenger one. The cargo and passenger car is good for travelling out to the countryside with my family and for the household.
Question: How many % do you make a year?
Answer: First two years I was in the red. In the third and fourth years - about 650%. The fifth and sixth years - about 500%. This year I have made about 200%.
Question: How much did you start to work after we had lost money?
Answer: Two thousand dollars.
Question: About your system. Do you use technical analysis or fundamental one?
A: I do not use fundamental analysis at all. I use technical analysis to a small extent. I mainly trade by patterns.
Question: But, they say that patterns do not work?
A: They dofor me. I need to understand charts. It has to understand what is happening and be ahead of the market and ahead of the crowd.
Question: Did you have this understanding soon?
Answer: In my third year, understanding of the market gradually began to emerge.
Question: The third year is a relative term. Some people work two hours a day, others six. How long do you work on average?
Answer: Two hours a day is not a job. With this kind of work there will be only one result - none. You can work twenty years like that and there will be no result.
I started out working 8-14 hours a day, almost all my free time. Now I do it no more than 4 hours a day.
Question: 8-14 hours a day. What about family and work?
Answer: At the time I had no family, I was single. I was fired from my job and I was left without a job.
Question: Why were you fired?
Answer: BecauseI told the manager the truth. I said he was a jerk. And he was. There was a conflict.
Question: Didthey writein your work record that you were fired for breach of discipline?
Answer: No, he fired me at my own request. Although, I did not do that - I needed a livelihood, so I had to work.
Question: In other words,you had a very strong motivation?
Answer: As a matter of fact, yes.
Question: Can you say you have a good understanding of technical analysis?
Answer: Yes, I am, but I do not use it much.