Sharing is learning, and those who love to share usually grow faster.
On the way of investment and trading, I also met many people who love to share. Some like to share their learning resources, and some also share their trading experience.
Today, Hui Classroom will share with you the experience of two senior traders, and I hope you can gain something from it.
Leslie Stayton is a professional trader with 5 years of experience. He decided to become a full-time trader after only 2 years of exposure to the foreign exchange market. Of course, he was luckier than most people, but he lost $10,000 in the first two years, and made continuous profits after the third year.
In the past year, his average profit rate can reach 6.5%. The most frequently traded currency pairs are GBP, USD and EURO. A full-time trader does not keep an eye on the market in real time. He spends 4-8 hours a day on the market, focusing on trading in the European and American markets.
His legendary experience is a non-agricultural period trading, 15 minutes to get a profit of 185 points, a profit of 46250 US dollars! Chasing news and trading is a very risky behavior. The reason why he was able to make a profit at that time was also because he had his own trading plan, curbed greed, and sold the order in time.
Leslie is not a purely technical school. His trading will combine fundamentals and technical aspects. Different scenarios play different roles. When looking for breakthroughs, he will use technical analysis, but he does not use technical indicators but just analyze charts, because he All technical indicators are considered to be lagging. His trading style belongs to scalping trading. He mainly trades in the 5-minute time period, and also analyzes charts in combination with 1-minute, 1-hour and even daily charts.
For those who can continue to make profits, fund management must be done well, and Leslie also has her own fund management principles. EUR/USD will generally set a 20-point stop loss, GBP/USD will set a 30-point stop loss, and the risk of a single transaction shall not exceed 1.5% of the total account, because it is a fast-in and fast-out trading style, so if 20 minutes If there is no profit within the period, he will close the order.
The trading time is not too long, Leslie can do so well, first of all, it has its own trading principles, and then it is the control of trading emotions. Here's his advice for new traders:
1. You must be patient. There are many opportunities. Waiting for the right opportunity to place an order is 85% successful.
2. Don't be too greedy, strictly control the stop loss and cannot increase it.
3. Be sure to study, understand trading rules, learn how to trade, and find a trading method that suits you.
4. Learn to persevere. You cannot change one trading strategy from another. You must stick to your own trading methods and improve your trading skills.
5. If you want to do full-time trading, the hardware equipment must keep up. Buy a good computer with 2 display screens.
A trader who asked not to be named, let's call him A for now. A has been trading full-time for more than 4 years, but as he said, his trading career has not brought him any profit, and he is losing money every day, every week, every month.
For more than 4 years, I have been studying trading strategies and trading rules, read a lot of trading-related books, and learned a lot of experience and lessons from senior traders. It is not easy to admit that I have failed. The following are some trading experiences summed up by A. These failed experiences are more inspiring to ordinary people:
1. The rule of the foreign exchange market is to absorb funds from small and medium-sized traders so as to make large banks and financial institutions profit. The market is not good for ordinary traders, so don't understand transactions from the perspective of making money, but make good funds first Manage and protect accounts.
2. Everyone cannot get rid of the influence of trading psychology, because everyone has their own shortcomings and emotional thoughts. Once we make a profit, we want to get more and trade more, and it is easy to lose. Therefore, you must have a goal to make a profit every day, just meet the goal.
3. It may be in our best interest to look for the trend and follow the trend. The various trading strategies, technical indicators, and economic indicators we use are all analyzing past information, and cannot accurately evaluate future price trends. Therefore, finding the trend and following the trend to make orders is the most reliable way of trading.
The above is today’s sharing. Everyone has their own views on trading. You can refer to or block the above lessons. Of course, I hope that no matter what you do, you can share more and learn more, and you will definitely learn a lot from it.
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