Trader Profile: Day Trading With Discipline
Sunday November 9, 2014

We’re basically across all asset classes but my focus is in day trading the forex market

I trade the major forex pairs. Typically, we are actively trading two or three pairs, the most liquid pairs, such as the euro/dollar pair and the British pound/dollar, dollar/yen and pound/yen. We are short-term traders so we are almost always out of positions at the end of the day. We have initiated multiple programmes to help our traders master techniques and become consistently profitable. The most important is “The Million Dollar Mark”, to show the power of compounding consistent profits. As part of this, I have publicly started trading a real live account with starting capital of US$50,000 and will build up the portfolio to an amount of $1 million by October 20, 2015.

We are constantly monitoring which forex pairs have the most volatility. We like prices dancing around; that gives us opportunities to trade. We are driven by technical factors as much as fundamentals. So if there are UK numbers coming out or [the European Central Bank president Mario] Draghi is due to say something, our job is to figure out what the market is expecting and then trade on market moves that follow, depending on whether the news was as expected or surprised the market. This involves a lot of news-based algorithm programmes. The key is to think like a trader, not a gambler, and about earnings, not winnings. It doesn’t matter so much what actually happens – for example, with the European bank stress tests last month, which were worse than expected – but about the psychology of the market.

 

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