jgmcps is the trader behind DARWIN BPX. With a track record starting in November 2016, BPX has had a D-score over 70 since May 2018 and is currently included in 3 of the default filters on the DARWIN Exchange.
1. So, tell us a little about yourself. How did you get started and how long have you been trading for?
I am happily married with two young children. I enjoy traveling with my family and spending time with people. Almost more than anything I enjoy being a contribution to people’s lives in such a way that they get real and tangible results in areas that are important to them.
I started trading stocks in 2006, and moved through the common path that many do when they start – stocks then options, futures, and then forex. I did so because I thought it would be an easy way of making money. I can’t say I was wrong, but I can say it wasn’t as easy as I thought it would be at the start.
2. About your trading strategy: what pairs do you usually trade? Do you always trade the same timeframes?
I trade just about any currency pair, although extremely rarely such exotics like the Peso, Krone, Lira, etc., and I make more than 95% of my trading decisions based on the daily timeframe (or higher).
I do this for a very specific reason – I want as many market participants joining me in my trade as possible. For example, not everyone who trades off the 60 minute, 240 minute, daily, etc chart looks at the 5 minute chart for trading decisions.
That means, if I were looking for levels based on the 5 minute chart, anyone who trades off of larger time frames would not be joining me in my trade. Whereas if I see an obvious level on a daily chart, that level will also be obvious on the 240 minute, 60 minute, 30 minute, 15 minute, and 5 minute charts. Everybody can and will see that daily time frame level and 90% of those traders will probably make a trading decision based on that.
That adds a lot of market participants to my trade.
3. What would you say is your greatest strength?
I look for and wait for that which is obvious. I don’t try to be smart – I just focus on making money.
4. And your biggest weakness?
I forget that I am good enough. Sometimes I think that I need to be more like someone else to be who I really am.
5. Our algos tell that your DARWIN BPX is very good in the investable attributes “Open strategy” and “Close strategy”. Any ideas for other traders who need to improve on those attributes?
I trade off of obvious support and resistance levels. “Obvious” is the important word here.
One can get very technical and find hidden support and resistance levels – but somebody needs to be smart to find those. I am looking for trades that even people like me who are not as smart as others can see. I want it to be very obvious.
If the market is moving down to the lowest low in 5 years, then that is a very obvious level and I want to trade off of that – and most other people will also. So when it gets down to that point, a lot of people will either go long, or close out their short positions, which will move the market upward. Keep doing that over and over and you’ll find that you pretty consistently hit the top or bottom of a temporary move.
6. What is the most important lesson you have learnt in your trading career?
Trade laughably small trade sizes and take profits. It doesn’t really matter when you take profits – just take profits. And trade laughably small trade sizes.
7. Any books you like to recommend to fellow traders?
Nothing immediately comes to mind for a book. I’m sure every one has a nugget of gold in it to help improve.
8. Finally, any comment you’d like to share with the fellow traders and investors who read this?
Traders: remember you are trading to make money. You’re not trading to be smart, capture big trends, become an analyst, or anything else. Strip away everything that does not directly lead to making money. Trade small and take profits – over and over and over again. The money will follow.
Investors: you are all great. You are part of what makes this ecosystem work. Thank you for that. And remember, a losing week is not indicative of a system breaking down. Start out investing small and give more money as you feel comfortable with the trader. And, again, thank you for being here.