[B]What has been your path in Forex so far?[/B]
Common story, started on the low time frames 1min 10min mostly with the usual indicators etc. Got in a lot of screen time. Moved up to the higher time frames 4hr and Daily using price action alone which really helped when I moved back down to the 10min 30 min 1hr type time frames. Longest time in a trade 26 days…and I will never do it again! (even though it was a winner), hence the move back down. On my travels I learned to trade the news (Draghi and Novotny‘s speeches especially were trade-able/ profitable). Not only the 5 seconds after a speech, announcement or figure is posted, but I eventually noticed patterns 1hr ,1 day ,2 days after these events. I also learned to trade what I call sentiment lifecycles.
[B]What qualities or skills outside of Forex do you think you would bring to a team?
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Apart from the usual “filler” lol
I have background in Electronic Engineering both hardware and software which puts me on level pegging with Florists, Window Cleaners and Lawyers in the world of forex however, it does give me transferable skills. Electronics at design level is 90% Mathmatics. I know about statistics, probability, distribution curves etc etc which is why some of the statements in threads I read about “Consistency” seem inaccurate.
Being able to derive a formula from first principles gives you a slight advantage over someone who only knows how to use the formula. I have also been involved in medium and large commercial projects at every level so the project environment is one I am very familiar with.
I will add, at school maths was always my worst subject , I was a humanities and languages type of a guy with a passion for sports, so of course I chose a maths based degree at university and continued into the profession. Did it give me satisfaction knowing that my worst subject became equal to and in some cases better than the best subject (Maths) of my colleagues? At the time yes…now, I couldn’t care less lol It has however given me a unique skillset and perspective in an environment where everyone else’s skills and perspectives are incredibly similar, this helped with promotions and delivering projects etc…the beginnings of a contrarian perhaps?
[B]What is your current philosophy regarding Forex? [/B]
I think that Forex like most; if not all markets/ games or businesses have been designed to separate Group (A) from their money and put it in to the hands of Group (B). The 95% that lose fund the industry and everyone who makes money from it. If I was designing a game to consistently extract the maximum amount of money from a largest possible group of people over an extended period of time it would have to fullfill various criteria. Forex fullfills many of those criteria.
A decent frequency of wins to for the player to keep them in the game , mathmatics, statistics, muliptiple computer screens, charts etc to make you feel like you are doing work and various levels to make you feel like you are progressing if only in knowledge alone.
Part of designing the game would be in understanding how the mind works and exploiting human error to the point where that fear of error would make people afraid to use the advantages that their own brain gives them in certain conditions causing the more “advanced” players to fully automate and give up value in those conditions.
Example… We know a Noob will over say a 100 or 150 pip losing trade, add to that losing position at 2, 3, or even 4 times seemingly random intervals moving their stops as they go but when he is in a winning trade he wont add to that trade or move the limits to make more money at all…… doesn’t that give the house an edge worth millions alone? There are a long list of such instances.
At this point in the game I think the solution is to find a hole or weakness in the games design (nothing illegal of course) and exploit the hell out of it for however long or short that period may be until the hole is closed up. I think you will know when you have been successful when either the brokers or the government or whoever it may be steps in and changes the rules and tells you are not welcome anymore.
“There are no model T fords parked on the driveways of the homes on the street that I live on” ( where did I hear that?). That’s how I feel about the longevity of a winning system right now. Tech guys make an amazing app or website which fulfills a need and when it starts getting hot they sell it to Google for billions and get the hell out of there in case it tanks…also known as robbing the bank. Once you have robbed the bank who cares? It’s all myths and legends by then.
To summarise…when you have found the design flaw in the game that works for whatever reason at whatever particular time however short it may be….EXPLOIT, EXPLOIT, EXPLOIT…hit it quick, hit it hard and get out… I think if you stay in for an extended period you will eventually give it all back. I suppose I have become a contrarian.
[B]What do you see as your strengths?[/B]
Apart from even more c.v “filler”
-Logical thinker…. If there is a hole in the logic behind your system there wont be a place for it to hide
-Attention to detail… as above
-If you are in real trouble, although there are 500 numbers in your phone mine is realistically 1 of only 2 numbers you will think of calling (or so I’ve been told)
-Good organisational skills
-Workaholic tendencies lol don’t flame me for it.
