Dale Paterson a.k.a dpaterso
###1. Congratulations on making it to the amazing list of FX-Men Honorary Members! Please tell us something nice and interesting about yourself.
You already know most of what there is to know about me. Anything that I may have left out is detailed below!!! LOL!!!
###2. How did you discover BabyPips.com and what was your first impression of the site?
Honestly: I discovered BabyPips about five or six years ago when I started out in this business by way of a Google Search if memory serves me correctly (and I couldn’t even tell you what search phrase I was using at the time i.e. it was a while back). Boring I know and probably not quite what you wanted to hear.
What struck me about BabyPips though was that experienced members (traders) were quite willing to help and guide new traders and answer questions posted no matter how dumb and inane those questions posted may have been.
There were one or two sites at the time that I already knew about and I remember being made to feel like a total idiot when posting questions as a new trader (‘that other big and well known FOREX site with the calendar’ in particular)!!! As a matter of fact one or two responses that I received to questions posted over there were downright rude. I never experienced this with BabyPips. And, well, here I (still) am!!!
###3. How useful and helpful was the site and the community to you as a trader?
Well I think I’ve already answered this (above) to a degree. Put it this way: without the site and the help and guidance of the community here it is quite possible that either I would have given up a long time ago or (more likely) I would not have the knowledge that I do now and would still be a long way away from being able to call myself a trader which I believe I can do now.
That’s not to say that all my knowledge comes directly from BabyPips but BabyPips has always been the starting point. For example: I’d post a question, receive a response (that may or may not have made sense at the time), and that would in its turn spur me on to do my own research (sometimes TOO MUCH research if the truth be told) on a particular topic. Of course I’ve always endeavored to return the favor and post my newfound knowledge as a result of my research.
The one great thing about the members of BabyPips is that there are no primadonnas on BabyPips. All members from the professional members (traders) to the new members (traders) are only too happy to help and share their experiences unlike on almost all the other sites where there’s either just a bunch of know-it-alls OR a bunch of people that are just trying to sell you something in an effort to cover their own losses.
###4. What motivates you to actively participate in the forums?
Mostly the flattering PMs that I receive from the female moderators (and by the way we’re all still DYING to know what you lot look like)!!! LOL!!! Honestly: I’ve thought about this at length many times. It’s always struck me that this business seems to cement relationships. (I’m not quite sure what it is that I’m trying to say here but I’m doing my best).
I guess what I’m trying to say is that it’s amazed be that people that would ordinarily not even given each other the time of day for a variety of reasons be they cultural, racial, or religious differences are more than happy to befriend anyone and everyone that has the same common goal and interest (trading).
Imagine what the world would be like if we all conducted ourselves in this very same manner during the normal course of our lives. And I guess I’m motivated to actively participate because I know from experience what it’s like to be new at this and needing assistance and guidance. Not only that: I’m from the school (based on my own experience) that believes that ‘anyone can trade’ (think ‘Turtle Trading’).
All they need is a bit of help and guidance from somebody who has ‘been there, done that, got the t-shirt’ and they can be successful. The only thing that I don’t believe that can be taught to anyone is trader psychology. That, unfortunately, can only come from within and aside from being undercapitalized, I believe is what makes the difference between success and failure in this business.
And yes: I like to ‘give back’. I believe it necessary. I’m by NO means a superstitious person (I don’t have issues with Friday the 13th or black cats) EXCEPT when it comes to this business!!! I honestly do believe that what you ‘give’ in this business you well ‘get back’. I don’t have any good reason for believing this other than that I do believe it.
###5. What do you enjoy doing in your free time?
Honestly: I don’t have that much free time. When the markets are closed I’m invariably sitting looking at charts and trading systems and reading anything and everything related to trading and the markets. Then again: ‘all work and no play makes Jack (Dale) a dull boy’ as they say.
When I can no longer ‘see a chart straight’ my free time is taken up by my four Rottweilers, who I adore, and listening to and watching (on DVD) my music (Goth Metal, Rock, Opera, you name it) and as loud as in humanly possible. I don’t’ know how much you want to know here. I used to have a family (a son and a daughter) but I lost that somewhere along the way due directly to my preoccupation with this business.
There’s a warning and some good advice there for anybody reading this. Would I trade??? I doubt it. I don’t see why anybody should be put in a position where they’d have to make a choice between this business and everything else. But unfortunately: when you’re doing well in this business you’re a ‘hero’ and when you’re ‘down’ you’re perceived as nothing better than a ‘homeless bum’ or ‘down-and-out gambler’.
Then again: I guess that’s why I’m still here. I have that type of ‘extreme’ personality I’m told (‘Type A’ I’m led to believe). There’s no ‘grey’ only ‘black or white’ with me. There’s no such thing as ‘one drink’. It’s a whole bottle (or two, three being my record), or nothing!!! I know one thing: given the opportunity I would have been a DARN good floor trader!!! LOL!!!
###6. What are the top 3 things you think new members should do to get the most out of their interactions with the BabyPips.com forum community?
Well I’d say that new members that search the forums BEFORE asking their questions earn a lot of respect with the older members. No offense is meant by this but many times the same questions are asked over and over again and the answers have already been posted (sometimes several times) and are easily found. My ‘pet hates’ are ‘which broker is best?’ or ‘what should I look for in a broker?’ (I won’t even make mention the ‘gambling’ related threads). These questions have been asked and answered ad infinitum.
There are only so many ways that those questions can be answered. Invariably the more experienced members simply stop responding to those types of questions and this could lead the new member to believe that nobody is interested in replying to them which is most certainly not the case. There’s just no point to posting an answer to that given several times before. Of course being courteous is important but that goes without saying really. And I would say be prepared to listen to those who have the experience.
Don’t think that you’re better than anybody else that has gone before you. I made that mistake when I started out and it cost me dearly. In my case: one of the simplest rules to follow and implement is risk and money management. Not a single experienced member (trader) told me differently. But me: I thought that was just because they were averse to risk and I had a higher tolerance for risk than them so it was alright to risk 20%, 50%, sometimes even 75% on a single trade.
Well here’s the thing: it was I that was wrong not them but I thought I knew better. This business is ‘the equalizer’ of men (and woman). It’s the one business in the world where you soon realize that as ‘special’ as you may THINK that you are and as ‘different’ as you may THINK that you are from everybody else: you’re not. This business opens your eyes to the fact that at our core as human beings we are ALL the same. Think ‘fear and greed’ as fine examples.
###7. If you have to recommend 5 of the best forum threads on BabyPips.com, which ones would those be?
Sorry but that’s a difficult one and I don’t think that you have the time to wait for me to make a decision. ‘Off the cuff’ I’d say any thread that I’ve started in about the past three years or so!!! LOL!!! I’m only joking (or am I)??? Put it this way: there are MANY threads that I would recommend and of the many threads that I would recommend I’d say that they would address two key issues: trader psychology and risk and money management.
And there are one or two where a trader has been open and honest and bared their soul (usually after some horrendous losses) for the world to see. I admire that and many times it’s happened where my reading something along those lines has given me the strength to pick MYSELF up and carry on (also usually after some horrendous losses which, thankfully, don’t appear to happen anymore, due mainly to the input and help and guidance given to me by various experienced member on BabyPips that I EVENTUALLY took note of)!!!
###8. Where are you from? Please tell us about your favorite places in your home country.
South Africa and dare I say proud of it (now anyway although our Government does have the knack of embarrassing me every now and then)!!! LOL!!! Favorite place here??? Our South Coast ‘by the sea’. ‘One day when I’m all growed up’ (which had better happen fast given that I’m forty-six in June this year) that’s where I’d like to trade from (note I said TRADE not RETIRE)!!!
Favorite cities: Johannesburg ITSELF (not Sandton which is where most businesses, INCLUDING our Stock Exchange, moved to some years back leaving Johannesburg ITSELF to fall apart which has always disgusted me). That being said: a lot of work is being done to revamp the Johannesburg Central Business District and hopefully Johannesburg ITSELF will reclaim its former glory. And Durban ‘by the sea’. I’m not a ‘Cape Town person’ (too many pretentious people there for my liking)!!! LOL!!! None of the ‘floor trader type’!!! LOL!!!
###9. Just for fun, here’ a silly question – do you have a favorite joke or a quote related to forex trading?
I have HUNDREDS but three come to mind almost immediately (and DO NOT edit them when publishing this):
“The market is a wh*re. It’s out to f**k as many people as it can. That’s its job.” – Floored, The Movie.
“I know traders who can never seem to hang on and follow a good system because of a compulsive need for action. I know other traders who have a greater need to be right most of the time than they have a need for the money they can make”. – J. Welles Wilder. Jnr.
And last but not least a quote from our very own “Master Tang”:
“I’ve done 10 full sized positions at a time on the euro, and watching $100 dollar pips fly by the wrong way will move you in ways you have never expected…”
There are just FAR too many more to be included here unfortunately!!!