Here comes the last article of the year and in the same time, the last interview of the year. This time, I decided to proceed differently by leaving questions/answers as they are, instead of turning them into a third person speaking text. A few sentences were rephrased for clarity purposes but it’s still 95% raw material.
Answer the poll at the end to let me know if you like it or if you prefer the previous way.
That said, Happy New Year and trade well :)
ekson10 : Eric, 28, Ivory Coast, Auditor Consultant
Can you introduce yourself (hobbies, interests…etc.)?
I’m a finance-passionated guy who’s just discovered programming therefore I’m thinking about attending a Master in Computational Finance and work for a Consulting agency. I love basketball and literature. My dream would be to create an African Private Equity firm.
Editor’s note: We wish him good luck in his endeavors.
For how long have you been on the Forex Championship? For you, trading the Forex is a hobby or an occupation?
I have known about the Forex trading market since 2005 and registered on the Forex Demo Competition in September 2010 but I really became actively involved since December 2010. I look at Forex as a way to make money even if it’s also a passion to me.
Editor’s note: Trading is a money-making activity indeed.
How did you hear about the Forex Championship and RTFX?
I heard about the Forex Championship and RTFX through Capital. I have been a loyal reader since I was a teenager.
Editor’s note: Efficient partnership.
Is there another trader (in the Championship or somewhere else) who inspires you?
Not really, but I’m impressed by galadriel’s performances, she scores Miles almost every single day!
Editor’s note: Galadriel is amazingly regular indeed; it’s probably due to her long elvish experience J
What was your best trade and your worst trade?
Without a doubt my worst trade was when the SNB intervened, I was long on a winning position that I closed when the price hit the second support. Then came an incredible 50 pips rise in one minute, so I told myself that the price was way too much out of the 1 hour Bollinger and that made a perfect occasion to trade against the trend and went short. It was a nightmare and it took me a week to get over it.
Editor’s note: Some never got over it :(
Not my best trade, but the one I like the most happened in June, I was in the top 10, short on USD/CHF when a Non-Farm Payroll was released 100K lower than the forecast. It’s always a pleasure to win a trade thanks to the news. I probably made more than 1% that day.
Editor’s note: we always sleep better when everything goes according to plan.
What is your trading style (scalping, trading the trend, trading the news, hedging…etc.) and schedules?
I’m usually a trend follower but I sometimes go against the trend after violent moves in the market, and I often do scalping with my real account but I do it carefully. As for the news, I only trade according to the Non-Farm Payroll given its price impact.
Editor’s note: Interesting mix.
How would you describe your trading strategy (daily, weekly and monthly objectives, stop win, stop loss…etc.)?
My daily goal is to earn at least 40 pips but it depends on the market, I never leave a position opened more than a day (especially because of events such as Fukushima, SNB…etc.). No stops, I’m always monitoring the market and I admit that I quickly take my profits but I’m trying to fix that flaw. In the contest I automatically put a stop win around the +25,000.
Editor’s note: no stop losses but always a stop win in the contest, now that’s something!
What would be your advice to traders?
As an average player, I wouldn’t pretend giving advices since I’m still trying to improve myself. However, given my real accounts experience, I think it is very important to have a good Money management strategy because you can’t risk your entire balance over a trade with a real account like you do with a contest account. I learned the hard way after burning 2 free margin accounts.
Editor’s note: 2 accounts, ouch.
Do you check our market news and analysis (RTFX Morning Briefing, Trader Tip)? If yes, do you find them useful or can they be improved?
No, I don’t really check RTFX analysis. But I had a look lately and plan to do it regularly and will definitely let you know what I think about it.
Editor’s note: We look forward to your feedback. Every opinion is welcome.
Do you have other sources of information? If yes, which ones?
I sometimes read Bloomberg’s currency section but it’s all about events that already happened so it’s useless for trading purposes. I keenly follow Babypips forecasts and check Stocktwits to know other traders’ feelings.
Anything else you would like to add?
Yes: I was trading during the war, and weirdly this was at that time (April) that I made the most Miles last season and with that I achieved the biggest progress. Late at night I was seeing the helicopters missiles from my room, but it was the best time for trading because, due to Fukushima, the EUR/JPY pair was very a volatile overnight. It was a hallucinating time but it’s true that trading allowed me not to think too much about those painful events.
Editor’s note: Wow (as a reminder, it’s about troubles that occurred after irregular elections results in Ivory Coast). We are more than happy to know that trading with the contest gave you a break from this.
I would also like to thank RTFX for offering us this opportunity, especially with the Miles system, and well, I’ll try not to burn the current free margin account like I did with the two previous ones.
Editor’s note: Thank you, Happy New Year and good luck.
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