Interview with TaoInvestments (DARWIN $RUG)
Fellow trader TaoInvestments has been around for quite long. If you review our leaderboard, his DARWIN $RUG will certainly catch your eye: on top of achieving the “Promising” badge, he managed to get the “+50%” badge since 2015. Not bad!
Want to know more about the brain behind $RUG? Read on!
So, tell us a little about yourself. How did you get started and how long have you been trading for?
I’m 34 years old and have a background as a Financial Analyst / Accountant.
My trading career officially began in 2007, when I left my job to focus full time on Trading. I was attracted to the freedom of being my own boss and the challenge of mastering a career that was widely touted as having an 80-90% failure rate.
I soon became obsessed with the markets (…and I mean obsessed!) studying day and night and surviving on very little sleep. I tried every indicator/method available, followed every “trading guru” but after blowing my trading account (an all too familiar story), I was humbled by the markets. I was forced to address the psychological aspects of trading. I studied many books on psychology and developed a healthy respect for risk.
From 2009, I started making a consistent income from Trading. I was very fortunate to be guided by great mentors along the way to eventually become a humble student of the markets.
In 2015, I joined Darwinex through 50scouts (@50pips – another great mentor) and feel fortunate to have been one of the early adopters.
About your trading strategy: what pairs do you usually trade? Do you always trade the same timeframes?
I focus on the most liquid currency pairs and timeframes above H4 using a top down approach.
As a trader, what would you say is your greatest strength?
An in-depth knowledge of my trading edge and the patience to execute it. Although $RUG has a low trade frequency, I am constantly observing price action and its behaviour around key price points. Over the years I have developed the skill of being able to sit and wait until I can identify a high probability outcome. Unfortunately, it is impossible to track the trades NOT taken and to attribute a score.
And your biggest weakness?
Holding on to winning trades – An area that can be improved is holding on to high conviction trades; this remains work in progress.
Our algos tell you are very good at when it comes to Performance. Any ideas for other traders who need to improve on this attribute?
As commonsensical as it might sound – Do more of what works and less of what doesn’t.
Concentrate on building a track record, the real focus should be longevity and consistency to beat the market over the long term.
Adopt a slow and steady approach –$RUG has scored over 8 for performance since inception with a track record of over 2 years.
What is the most important lesson you have learnt in your trading career?
You have to know yourself, what makes you tick, your strengths and your weaknesses. Trading is about life long learning and constantly working on your edge, its not a place for the “get-rich-quick” crowd. Follow your own path and “…don’t compare your beginning to someone else’s middle…”
Finally, any comment you’d like to share with the fellow traders who read this?
Trading requires hours of arduous and intense study, persistence and a contrarian mindset. Never underestimate trading psychology, always be working on your mental edge. And finally, good things take time as Warren Buffett said, “You can’t produce a baby in one month by getting nine women pregnant.”