We spoke to one of our top traders, Adem, to get some insight into their trading strategy and experience of trading with BluFX.
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Trader Q&A: Adem
Could you tell us how you began trading? What difficulties did you face at the beginning and how did you overcome them?
I started trading in 2017, and I invested real money in an English company. I invested $250 and the company gave me another bonus. So I started with a real MT4 account and I was assigned an account manager who told me what to do every day. So in about two weeks I made the account $6,500. When I wanted to withdraw, they dissuaded me and told me to put in more money to make my account more secure. That's what I did.
I continued to trade, but I had no knowledge of capital management. I began to trust myself and lost my account. Then I made a new deposit of $1,000 and the broker gave me a bonus of another $1,000. So I started trading $2,000 and made $30,000 in a month by trading bitcoins - and the account manager was helping me. I lost this account and couldn't download anything. Then I enrolled in a forex course and started studying financial market trading.
What, in your opinion, is the best way to learn forex if you’re starting from scratch?
The best way to start forex from scratch is to start with a demo account, but you also have to go through an educational course to learn the fundamental and technical analysis.
In your opinion, what are the essential elements of a good trading plan?
In my opinion, the main elements of a good trading plan are to always trade on the trend and to be able to manage your capital.
If you could only give traders three pieces of advice, what would they be and why?
I would advise them to always put a stop loss and to always trade in the direction of the trend and in the long run. When trading, risk a 1 to 2% maximum of their capital and trade a minimum ratio of 1 to 3 and up.
Why do you think such a large percentage of traders consistently lose money in the markets?
The biggest reason is the greed of the trader. Failure to follow the rules of capital management is a bad habit that leads to bankruptcy.
There are new online prop firms popping up all the time. When do you believe someone should make the move to trade a larger capital base?
When they show that they know how to manage capital - then I think that any company would entrust them with capital to manage. But good things happen slowly.
Did you think the BluFX opportunity was too good to be true when you first came across it - and if so what made you take that next step?
At first I didn't believe this to be true, but I decided to try. I thought, time will tell. What made me take the next step was my personal motivation to one day become a fund manager and trade big capital so that I could achieve financial independence and help people via charities and participation in good causes.
How did you trade before BluFX?
Before BluFX, I traded very risky and emotionally. I had big profits, but also big losses. I now trade better than before and always follow the rules of capital management.
What’s been your biggest lesson so far being a BluFX trader?
My biggest lesson so far is that I’ve learned I should always put a stop loss.
How has trading impacted you as an individual?
I learned to be disciplined and to always have a work plan.
What advice do you have for other people thinking about joining BluFX?
I would advise them to do it right away, because this is a very good opportunity that other companies do not offer.
What do you do when you’re not trading?
When I'm not trading, I read books about trading the financial markets and go to the mountains. I go swimming, and I cycle.