1. Tell us little bit about yourself. Where are you from? What are your hobbies?
I am Markus from Waterloo, Canada, and I would consider myself a trading newbie still on demo. I like to make beats from old records.
2. When/why did you start trading forex? What resources did you use to learn how to trade (websites, books, apps, mentors, etc.)?
I heard about forex and Babypips in 2008 while online but started Babypips school in 2011. in 2012 I began to follow a thread in the free trading systems forum and have since stumbled on two other trading techniques which I am still in the early stages of practicing.
3. What do your friends and family think about you trading currencies?
Skeptical and uninformed. Still early though.
4. What were your first strategies in forex trading? How are they different from your strategies today?
[I]My first attempts were completely clueless, just a few trades on the 5 min charts. Once I finished Babypips school I began to follow a thread on price action trading using daily and sometimes 4h charts which I read every post of and followed for almost a year and still follow.
Recently I discovered two new systems which (too recent to tell really) look promising and I am having some success with. One is a weekly price action method using engulfing bars at key areas and the other is a 'basket' price action method that does much of the same except daily charts are used and multiple low-risk trades across many pairs are held at a time and long moves of up to 1000 pips are the goal (actually, same pip goal for both systems. Often trades will be 200, 500, etc).
The thing about these three methods is none of them require reading news or indicators of any kind, both of which were things I subconsciously dreaded when learning forex as I never had the slightest interest in finance, economics or politics in my life (I just like to make beats lol).
I do find I am more interested to eventually learn these things the more success I have with trading though currently I am running the two above mentioned trading methods (weekly engulfing and daily basket) on two instances of mt4, just because mt4 doesn't save a profile properly and i want to keep the two methods separate both on the computer and in my mind as I try them out. I am hoping to either settle on one or combine the two. [/I]
5. Describe your current daily or weekly trading routine. What do you do before you trade?
I'm at the computer throughout the day but I try to make all trading decisions after 5pm. often setups that appear on the weekly system will give me a week or so heads up so I can watch the setup form and then place my orders sunday evening at market open.
6. What are some of your most unforgettable trades and trading moments?
A memorable moment would be the ah-ha moment that I had been waiting for for over a year. I think I am in that ah-ha moment right now, it's more like an ah-ha couple of months lol
7. What non-trading activities are you into when you’re not trading?
Bike riding, basketball, records, and music.
8. Complete the sentence: “If I hadn’t learned about forex trading, I would probably _______.”
Don’t want to think about this one lol.
9. Forex trading is not an easy business. What motivates you to continue trading when in a trading slump?
Not yet qualified to answer this. I still need to get to a point where I can realize and wait out a slump and be used to it and how it feels.
10. Do you have any advice for trading newbies out there?
As a newbie I think the best way to start is price action on higher time frames, and you have to be in the market and never leave. meaning, if you go a few days or weeks without watching your charts, it might take a few days to get back into it you have sort of a working relationship with the market while you are paying attention and/or managing trades which informs you on the strength and speed of different currencies and pairs at any given time.