Interview with Disciplinedforex (DARWIN $VFL)

26 May 2016
The Market Owl

Next in our series of trader interviews is Disciplinedforex, the brain behind DARWINS VFL, YMK & POA.

VFL made it to the top spot in April’s edition of DarwinIA, which granted Disciplinedforex a place in our DarwinIA Hall of Fame.

 

 

 

 

 

 

 

 

  1. What is your background and how did you get into trading?

My background is in Mathematics and Supply Chain Management. I got into trading in 2007, specifically forex, after being dissatisfied and disappointed with the returns on investments with financial institutions. Based on my analytical background, I decided to learn how to trade and embarked upon a journey of learning and knowledge of the forex market since it was the most attractive asset class to me at the time because of the liquidity and market hours. In 2012, after 5 years of developing and testing systems, I started to see the markets much clearer and was able to consistently realize a profit since that time.

  1. What attracted you to trade via Darwinex?

What attracted me were the low trading costs, the ndd/dma/stp execution, analytic tools available and the regulation.

  1. What are the advantages to trading on Darwinex as opposed to other platforms? How is it different?

A few of the advantages are:

i) Trading costs which is lower compared to other social trading platforms and this positively impacts the performance.

ii) Remuneration for traders is based on a high watermark which is good news for investors.

iii) FCA regulation that provides some sense of funds security.

iv) Analytic tools which assist investors when selecting a Darwin.

v) Ease at which investors can select and invest in a Darwin.

vi) Great customer support.

  1. Do you have a specialist area? 

I mostly trade the various currency pairs that are available (with reasonable spreads) using different strategies.

  1. In your opinion, what are the three key skills that a good trader must possess and why? 

The three key skills are:

i) Analytical Skills to analyse the charts/markets and be able to recognize high probability patterns during the various market conditions and determine key entry and exit points.

ii) Discipline to have a written trading plan and follow the entry and exit conditions fully, it is also important to record all trades in a journal which will enable you to review the trades periodically and make improvements if necessary.

iii) Risk Management is a skill that is required and development in this area is extremely critical to a trader’s success. Too high a risk and a series of losing trades can wipe out an account. Therefore, knowing your risk tolerance level and ensuring that the risk per trade is acceptable will prevent you from being uncomfortable when a trade goes against you, if you find this happening then the risk is too high.