This week we are proud to feature Rapha733, the trader behind DARWIN BLI. On top of getting DarwinIA’s 2nd spot in July after an impressive trading month, BLI recently became the first non-migrated DARWIN to reach a quote higher than 300 (i.e. BLI has won more than 200% since it got listed in October 2015!). Read on to find out more about the trader behind this record-breaking DARWIN…
1. So, tell us a little about yourself. How did you get started and how long have you been trading for?
I first remember being interested in finance when I was 12. I learned all about how banks and credit cards work. Over the years I bought some stocks and drips. I read many books on investing. I worked as a financial consultant for banks on commercial construction loans for a number of years. Due to the downsizing of the company I lost my job and couldn’t find work anywhere.
My wife saw an ad on Kijiji to teach people how to trade stocks. She knew I was interested in the markets and investing, so I decided it couldn’t hurt. That’s how I got started in a prop shop trading the level 2 of the stock market back in 2011.
A few years later I met a guy online who traded retail spot forex and I had no clue what that was. He taught me 5 key principles to trading that his mentor taught him, but I didn’t understand at the time. I continued my education by reading more book and forums and trying people’s “winning” strategies but something always seemed to be missing. My wife kept telling me to just trade in my own style and stop trying to listen to everyone else, so over the last couple years I have really started to develop my skill set as trader.
It has taken over 5 years, but I feel I have come a long way and those 5 principals are the core of my trading.
2. About your trading strategy: what pairs do you usually trade? Do you always trade the same timeframes?
I trade the EURUSD, AUDUSD and USDCAD. I don’t trade timeframes I trade price action. This means looking at the average daily range of a pair and noting where price turns around.
3. As a trader, what would you say is your greatest strength?
Discipline. I’ve learned to create a simple and strict plan that I am constantly refining.
4. And your biggest weakness?
I sometimes get so excited with the markets that I just look at my charts all day, I am addicted.
5. Our algos tell you are very good at when it comes to Timing & Performance. Any ideas for other traders who need to improve on those attributes?
Ha ha, those used to be my weakest scores. What I did was studied all the top traders on Darwinex. I found people with the highest score in a particular category, then tried to understand how that score worked and what made a bad score. With timing I would split my trades so instead of 1 trade at 0.10 lots I took 3 trades each at 0.03, then I spaced my entries 10 to 20 pips apart. By doing this the market taught me where the best entries were, and as my score improved I brought my trades closer together which increased my performance.
6. What is the most important lesson you have learnt in your trading career?
It’s all about mind set. A good trader doesn’t make profit, he just doesn’t lose. My focus is risk as little as possible and don’t lose.
7. Finally, any comment you’d like to share with the fellow traders who read this?
By the third time you have wanted to quit trading all together, then you will succeed. Remember Edison, numbers are important, the most important one is 3.
I am always happy to talk about trading with those looking at getting into the industry or those wanting to hone their skills. They can send me a message through twitter @raphainvest.