Experience and knowledge is key

Hello
My name is Rasheed.
I used to run a trading desk (a long time ago) and left due to health issues.
For the past 10 years I have been trading myself and have used a lot of brokers and platforms.

So please feel free to ask me questions about anything.
However, avoid any questions about strategies because I will feel very bad if you lost money based on what I say to you. So it is better not to ask :21:

If you have questions about general trading, brokers, platforms, etc. then let me know. I have had the privilege of working for and with many great people in the industry and I used to train traders at companies.

Good luck to everyone trading!

Do you think it’s possible for anyone who tries hard enough to be a succesfull trader?
And also, how did you get the job of running a trading desk, did you trade by yourself before you where hired?

From your experience with training other traders, did you observe any common traits of the most successful students?

also, what’s your number 1 advice to beginners?

I have trained over 2500 people and junior traders (at brokers/banks).

The best ones are the ones that follow the rules. I always tell them 3 things will always make you money: 1) Discipline, 2) Discipline, 3) Discipline.
and 3 things that will always lose you money 1) Hope (“no problem, it will come back up again”), 2) Fear (“eek it’s moved up, I’m scared I will lose profits so I will sell” or “Yikes it’s dropped a bit, but still away from my stop loss, but I will sell just in case I lose”), 3) Greed (if you target is 20 pips and you achieve it but don’t take it expecting it to hit 30, guess what? it drops to 5)

A retail client should always use stops and TRUST your strategy. Make sure you see it through. You’ve spent so long designing it.
I believe tech analysis is more important than fundamental trading. Learn TA, it’s essential, relying on news to be released before you trade will most likely lose you money. Make a better decision using the charts befoer the news.

No.1 advice is to train yourself to become [B][U]disciplined[/U][/B]. A robot is what you need to be.

1 Like

Probably not anyone you have to have some interests in this kind of business/analysis.
Don’t try hard, try smart. Learn a lot and try a lot on demo accounts for long term periods.

What is your average monthly account growth…?

Lukas, if you put the effort in then yes, for sure. If you see traders from banks and brokers, they are very well versed in reading/predicting chart patterns, aware of how news can affect prices, away economic factors and have gained experience.
Most people get into the trading game thinking they will become instant millionaires by putting in $500. If it was that easy then everyone in the financial sector would be a Warren Buffet.
You will need to accept loss, not just profits and trade within your means. With good practice and techniques will come discipline and profits.
I was fortunate to get into a graduate scheme after graduating from university. Started of doing minor roles, spent time in back office and middle office (learning all the time) before becoming a trader’s assistant.
I learnt from the senior trader’s experiences as well as developing my own strategies. Just sheer hard work and long hours yielded me promotion (and extra studying too).
I used to trade whilst I was in university but they were small amounts. It was very addictive.
Guys I worked with came from varied backgrounds. Some had degrees, some didn’t but they worked hard to get to the same level.

AoA Rasheed: Are you still around? Need some advice on Brokers (CapMar? Sucden? etc)

Rasheed,

It’s really nice to speak with someone of your experience. I would like to know what type of platform you trade on.