Honorary Member Q&A: ILovePizzaMore

ILovePizzaMore

1. Tell us little bit about yourself. Where are you from? What are your hobbies?

I am from the U.S. and my hobbies mainly revolve around physical activity… My house is at the base of a small mountain covered with trails that I will run and hike multiple times a weeks. Swimming and cycling also are part of my weekly routine. Being somewhat of a nerd with an engineering background I will occasionally feel the urge to take on some sort of project similar to what you would see on myth busters… My last one ended with a fiery explosion (containable with a small fire extinguisher) in my garage as I was experimenting with sugar fueled rocket engines.

2.When/why did you start trading forex? What resources did you use to learn how to trade (websites, books, apps, mentors, etc.)?

Started trading forex years ago… Main reasons were to find a challenge, gain financial independence from my career, and succeed at something that has such a large failure rate. My learning resources for trading were/are free online material. You can find everything you need to be a successful trader online for FREE. I firmly believe paying for courses and learning material is a waste. “how to trade forex” was type into google, and from there I jumped from site to site to site to site… Filtering through garbage and retaining the useful information is a skill that is developed through this process and will be honed for the rest of your trading career.

3. What do your friends and family think about you trading currencies?

I have a circle of friends who are traders themselves… and then I have a circle of friends whom are not traders. The ones that are not traders know that I “trade foreign currencies” but they do not really know what that entails… I usually give vague descriptions when asked about it and change the topic to something else. Nothing is more of a buzz kill then someone trying to explain what forex trading is at a party lol…

4. What were your first strategies in forex trading? How are they different from your strategies today?

My first strategies when I began trading were rigid mechanical systems relying on indicators and or certain price action patterns… after a year and a half of chasing after these types of systems with no success I began searching for what CAUSES the market to move… Gradually leading me to fundamental analysis. Today I am a purely discretionary trader basing 70% of my trades solely off of market fundamentals.

5. Describe your current daily or weekly trading routine. What do you do before you trade?

My daily routine is to read through various news feeds that I have, to sift through central bank statements and reports, read investment bank forecasts and reports, skim over the economic calendar for the day and week, and then do a brief scan of the charts.

6. What are some of your most unforgettable trades and trading moments?

The only unforgettable moment in my trading has to be the first trade I ever made with live money… The adrenaline rush and pounding heart as you click the trade execution button for the first time and sit there watching the trade for 15 minutes before closing it with a few bucks profit will never be forgotten.

7. Did you ever have trouble using common chart indicators? Which do you think were easiest to use and which ones did you need help with?

I never had a problem with indicators… Investopedia.com explains just about every chart indicator there is, good resource. I never use indicators any more, the only one that I found any value in when I was using indicators was the 100 and 200 period simple moving average.

8.What do you think is the biggest mistake that newbies out there are currently making?

The biggest mistake is to rush into trading with a live account and then over leveraging a small account. Over leveraging is the single biggest reason for blown accounts in my opinion.

9. Forex trading is not an easy business. What motivates you to continue trading when in a trading slump?

I have a collection of pictures of a specific sports car I plan on buying in the future… That usually does the trick. When I am mentally in a slump I usually close the computer and go outside and do something active. A healthy body is a healthy mind.

10. Do you have any advice for trading newbies out there?

My advice would be to think long term… If you are not willing to put in a good solid 2 years into this without any meaningful profits, then this business is not for you. You have to be an independent learner to have a shot at this as self-learning is the name of the game.

2 Likes

Are you and your trader friends full-time traders?

[QUOTE=“Justin Pipper;527297”]Are you and your trader friends full-time traders?[/QUOTE]

Yes to both questions :slight_smile:

Thanks for sharing. I find your point of view insightful. I’m sitting right at about eighteen months trading Forex live and have to say that having a willingness to go two years without making a profit is spot on. It took me a year to figure out where my nitch was and so far I spent the last six months winning back my losses from the school of hard knocks.

Cheers.

I read this massages,it is admirable posting thank you for sharing.

So which car is it?? :slight_smile:

LOL @ him getting banned a month later.

A fairly intelligent guy but, I’m sure he’ll be back with a third identity to continue his trolling and arguing. Forum addict…sad. I think you needed a new hobby anyway Pizza.

Would need to be “at least” his fourth….

No doubt he will…regardless Neapolitan Pizza is the tastiest.

he’s out there somewhere trying to learn how to kill a bear with a butter knife because deep down he knows that’s the best way. :wink:

[QUOTE=“petefader;556192”]LOL @ him getting banned a month later. A fairly intelligent guy but, I’m sure he’ll be back with a third identity to continue his trolling and arguing. Forum addict…sad. I think you needed a new hobby anyway Pizza.[/QUOTE]

Quite! If anything the ‘honorary…’ tag is unhelpful on the forum as it can suggest to some new joiners that there is some guarantee of trading excellence or good judgment or SOMETHING, whereas it is just done off post count. So on its own the title means nothing, but sounds as if it means something, which for me is not a good thing.

I find it hilarious and quite helpful (in terms of showing how meaningless these titles are) that someone was banned so soon after doing one of these interviews.

Correct… I suppose having the only thread on the forum calling live trades for about 8 months and taking a $2,000 account to $14k in the time period wouldn’t designate an “honorary” title now would it? But I agree… Since I see the same title next to your user name I would agree that it is meaningless :stuck_out_tongue_winking_eye:

I know pizza/banker etc pretty well but wasn’t actually saying anything specific against him, despite your implication - I was just making the point that I think the title distorts things around here and does far more harm than good.

I’m sorry that you seem to have some sort of beef with me, Samir, but I think we can agree at least that the title comes simply with post count and means nothing in and of itself.

I would not, incidentally, place too much store by a thread that presents a slice of one’s approach out of context.

Hmm… Interesting. I didn’t see it as becoming an “FX-Men Honorary whatever member” can be more harm than good. I do want to be in a good side… So, where can I resigned? oh wait maybe just start a new account to do over again… And I promise I won’t post much so I can still be on the good side :wink:

[QUOTE=“PipNRoll;583295”] Hmm… Interesting. I didn’t see it as becoming an “FX-Men Honorary whatever member” can be more harm than good. I do want to be in a good side… So, where can I resigned? oh wait maybe just start a new account to do over again… And I promise I won’t post much so I can still be on the good side ;)[/QUOTE]

It’s a pain in the neck getting one of these labels for a few reasons in my experience. Firstly some newer members see us as one overall group, so we get accused of banding together when we just aren’t. I also get it thrown back at me as a reason why I should offer free coaching etc. people make a number of assumptions about me because they think it confers some status, or that I have volunteered or trained for it - when it’s just post count. So it’s actually one of the three main reasons I have largely withdrawn from BP.

Sorry wouldn’t normally ramble in here but as Banker/Pizza etc is banned I figure it doesn’t matter!

They were the same person?! Figures I guess.

The “Honorary Member” status means nothing anymore. Pizza spammed posts all day, maybe 0.5% of it was somewhat insightful for new traders, the rest was just purposely trying to steer threads off course/trolling.

Honestly, I’m glad he’s gone; I felt his toxicity spread to several other users. Hopefully the amount of spamming and trolling dies down a little now.

Ms.“LexiGirl” deleted her myfxbook btw after suffering another HUGE drawdown. And over here at babypips we all know what that means.

So LexiGirl is banker? What was the drawdown?

I would agree the title is a bit misleading but the interviews can definitely be fun to read, and insightful when done with people who have not only the title but the skill to back it as well. It’s been a while since they’ve done one of these

Thanks for this piece. Very insightful but I wouldn’t like to believe that my nubbie journey will take two years. What can I do to make it shorter???

1 Like