Forex Expert Interview - Trading Like a Robot

WikiFX Strategies (6 Feb.) - While upsides, downsides, and consolidation are all commonly seen in the market, it can appear only one of them at a time. Investors should develop their own ideas and strategies since opinions in the market are motley. WikiFX recently interviewed a trading expert, Mr. Y., and the following is a transcript of the interview.

WikiFX: When you are trading, what do you survive on？

Y: Absolute confidence in myself. I will definitely enter the market if the technical patterns on charts are familiar to me. This rule helps me to make profits in 80% of my transactions. What I believe are my own trading skills and rules. Besides, I only trade on familiar patterns.

WikiFX: How do you implement your trading rules？

Y: While all techniques have limitations, the stop loss works forever. I closed my positions each time when prices reached the stop out level. The very first thing I do in all my tradings is to set my stop-loss orders.

WikiFX: Will losseschange your attitude？

Y: Losses included in my plan are valuable, which help me perfect my techniques and strategies.

WikiFX: Do you take advice from others？

Y: Never. Do those who offered the advice did so themselves？ Just trade according to your own understanding.

He did as he said. Call him bigoted, but he makes a living out of that skill and lives easier than 90% of traders.

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