Hi there, trader of 4 years and work directly in the FX industry. Have worked alongside bank traders, prop traders, successful automated and manual traders so have some interesting insights.
I’m an analyst & editor for Hammer Capital News & Opes Trading Group, and the head of data analytics at TradeProofer.
Love to help new traders, so please feel free to ask me anything and I’ll share what i’ve seen!
4 Likes
Welcome. Okay, let’s have a few of your interesting insights.
XM’s retail sentiment is a free tool. Use it 
Hi! Nice having you here. Some beginners here have been asking for both free and paid mentorships. Do you offer mentorship of any kind to beginners?
Hey thanks for asking Mupo, but I don’t do anything like that!
1 Like
Hey, do you focus on fundamental and technical analysis while trading?
What’s your take on the current state of forex volatility, and how that affects the likelihood of success for new traders?
2 Likes
First of all thanks for taking your time to help out new people like myself. Thats quite a impressive resume.
What is the most common time frame for prop traders to use?
Yes I focus on both. For swing trading it is my opinion you need to have a reason that a currency is over/under valued against another. Technicals provide the entry and exit levels but don’t dictate directional bias.
Hey thanks for asking, certainly interesting times to learn trading. Currently more opportunities than typical due to volatility, however don’t think this has a huge impact on new traders. Most traders won’t make profits and select few will, it’s always those who work for it that will have success. I don’t think market conditions changes that 
1 Like
I can’t say, it really varies so much from firm to firm. Some prop firms trade arbitrage, others speculate with discretionary systems, some trade automated systems. A timeframe isn’t really that important to trading, it’s more compiling sufficient data on a trading system, or a record of successful speculation for financial markets.
For bank day traders what I’ve seen is this - trend lines on weekly & daily chart, then use the hourly chart to trade. The trades taken are quite simple, they cover stops quickly, are quick to take partial profits, and are usually flat by end of day.
Do you use this tool? I will check it out when I’m back home from holidays.
I currently use daily candles and look for trend continuations or reversals using inside/engulfing bars. I also look at supply/demand zones on 4H charts, this has become secondary but I sometimes use them to determine direction. This has been working well for me. The biggest issue I’ve had to overcome is finding the patience to let my trades play out.
I’ve said this before and I’ll say it again; I used to think I was one of the most patient people in the world, until I started trading!
Tell us a bit about your current or favourite strategy.
2 Likes
Do you have a verified track record?
No. I’m not selling anything mate, how is this relevant?
1 Like
Yes, I love this tool. Working alongside brokers with TradeProofer it’s amazing how many traders lose money. By knowing what the sentiment of traders long or short symbol is def a great way to not take a trade, or confirm a trade
Absolutely relevant. Go through the history of threads similar to this, it’s always the same story: random person comes out of nowhere, claims to be a successful trader, has no way of proving it, yet he manages to attract the attention of newbies who are desperate to get someone to follow. There are plenty of reasons to do this besides building a customer base. Ego is one, and probably the most common.
Ultimately, these threads are just a waste of time. I can create ten different accounts and flood the section with AMAs pretending all of them are successful veteran traders. It’s very easy to give advice that sounds smart and makes me look like someone who knows what he is doing.
Anyone can come here and pretend they are something they are not.
l mate I’ve checked your profile and all your comments are starting arguments with strangers over the internet, well done. It’s not relevant at all mate, read my post again. I’m offering to share insights from brokers side and the industry traders that I have had the pleasure to work with…
Nothing there is boasting of my trading, just sharing what I’ve seen for anyone that wants to ask questions about the industry. Go start an argument somewhere else.
3 Likes
I’ve been curious how banks trade when major news breaks out like unemployment or retail reports
From what I have seen/ been told:
If they have trades open by news and the data is adverse to their trade they will exit. This is if their position is specifically to trade that news or just a day trading position. They operate very tight following exits, so if price moves adversely more than say 20 points they will exit.
If they are trading the news specifically they may open hedged prior to news with tight stops and no target set, or will open once data is released.
I think the important thing to gain from this is just how tight stops are - bank traders are trained to open positions for a number of reasons, but they all are trained to not let a winning position become a loser, and take small profits along the way.
1 Like
GOOD day. Please how long do you think I can master how to trade FOREX