To become a successful trader, he says, you should follow the advice of a successful trader and treat your trading as a business. His number one advice as a coach is to stay away from chat rooms, web forums and social networks, to make sure his traders focus on a new way forex currency trader salary thinking, of looking at the market and at themselves. Can you tell us about your story? How did you get interested in trading?
How long have you been trading for? What is your experience in trading? I started out managing my own investments. I started to put some money away, I was beginning to build up a nest egg and I wanted to manage that myself. I had the belief that nobody cared more about my money than me and I did not want to give it to somebody to put it into mutual funds. I wanted to be able to do the research myself. Hey, I could use some of this money to trade with!
And I started out trading some options. You recently finished 4th at the Varengold Trading Challenge. First, why did you decide to participate? How can I make sure your numbers are truthful? But I’m not giving my personal trading records, those are very private. How did you reach that step?
How did you find your niche and trading style? Is it only a matter of experience? This is how it should be done. And I listened to every single thing that he told me to do.
I wrote out my trading plan. In your opinion, what is the difference between a winning trader and a losing trader? Winning traders treat their trading like a business. Those are price points that people used to go gamble with, on a week-end or when taking a trip to Vegas. So trading for a lot of people is nothing more than gambling. You mentioned that, when you started, even though you were not successful, somehow you had the belief that you could become a successful trader. How do you explain that conviction?
Is this typical of successful traders? So this is not an issue of me not being smart enough to understand what I need to do, this is me not understanding what I need to do and not understanding how I need to go about doing that. So I sought out someone to help me to figure that out. And I found out that it had nothing to do with the systems that I was using or the trading plans that I had already written out. Can you tell us about this project and your role in it?
I was trading full time from home and I was getting lonely. So I put together a little and cheap website – I think we spent 2. 000 dollars to put the website together – and I opened up a virtual room using a software system where I can show my computer screen to people. I think people see in our company something different from what they see in other places and especially in the Foreign Exchange world. There are a lot of swindlers out there that are looking to take your money and nothing more.