<img height="1" width="1" src="https://www.facebook.com/tr?id=191112084732798&amp;ev=PageView &amp;noscript=1">

Trader Q&A: Everton

Posted by BluFX

 

Trader Q&As-1

We speak to one of our top traders, Everton, to get some insight into their trading strategy and experience of trading with BluFX - as well as their advice for other traders new to BluFX. 


Trading on a BluFX account yourself? Here's how to trade profitably>>

Read: How to Trade Profitably On a BluFX Account ⟶


BluFX Trader Q&A: Everton

1. Could you tell us how you began trading?

I started trading after a chance encounter at dinner with a professional trader in Johannesburg. I had a great conversation with him that piqued my interest in the financial markets I’ve been trading since.

 

2. What difficulties did you face at the beginning and how did you overcome them?

Two major difficulties that I faced when I started out were access to trading capital and access to valuable actionable information regarding what works and what doesn’t in trading. I had found my way through trial and error... and I had a lot of errors!

Not sure whether to withdraw or grow your account? Here are three reasons to grow your trading account>>

3. Is trading your full-time job, or do you make money another way too?

Trading is my full-time job and accounts for the majority of my income. I also run a farm.

Read BluFX trading parameters explained>>

4. What, in your opinion, is the best way to learn forex if you’re starting from scratch?

First off, stay away from “signal services” and “trading gurus” - they are a massive waste of money and time. Second, focus on controlling risk and minimizing losses (keep losses at single-digit percentages of buying power/account size). Third, focus on trade setups with favorable excursion -where you make multiples of risk e.g 2:1,3:1,4:1 risk/reward ratios. Finally, focus on instruments that are “in play”... they have some sort of catalyst that is easily identifiable and quantifiable.

Should I leverage my own money or use BluFX? Read the blog here>>

5. In your opinion, what are the essential elements of a good trading plan?

The number one consideration in a good trading plan is learning how to manage risk. Then to develop a trading plan that has its focus on managing risk. The second is to develop a playbook that focuses on trades/setups that you trade well and understand clearly. The third is to set your position sizing to match your risk management rules and your personal emotional and psychological makeup. The final and easily overlooked element your trading plan should contain is accountability for your current mental, emotional and physical state PRIOR to taking risk.

For more tips on finding the time to commit to trading, read our blog on 5 Tips for Fitting Trading Around Your Day Job>>

7. Why do you think such a large percentage of traders consistently lose money in the markets?

I think the majority of traders fail in financial markets because they fail to manage risk and allocate all their attention to making a profit.

Dreaming big? Here's how to trade for a big bank>>

8. 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?

Yes definitely. I was extremely skeptical. It took 17 months from the first time I found BluFX before I took the leap to sign up. In that time I followed them on social media emailed back and forth with their staff, watched all the videos about BluFX that I could find, read all information on the BluFX knowledge base that I could find. I developed a comfort level then decided to try it out.

Read how I got started trading for a bank>>

9. What’s been your biggest lesson so far being a BluFX trader?

My biggest lesson so far is that trading profits are born out of consistency - and that consistency is the product of hard work, dedication, and determination.

Read: How to Get Instant Overnight Funding Forex ⟶

Tags: Trader Q&As

Join our email list and discover more about Blufx