​Big volatility means more risks and more opportunities!

In the strict assessment of the EagleTrader trader selection exam, a group of talented candidates stood out and successfully advanced to EagleTrader traders. In our in-depth interviews, each trader has a unique and valuable experience and is eager to share it with the world. Today, EagleTrader specially invited such a guest – Mr. Chen Zihao.

He is a trader who has been working in the foreign exchange trading field for eight years. His trading path began with contact with stocks and futures, and finally found his own stage in the foreign exchange market. Now, let us follow his footsteps and review every transformation and growth in his trading career.

The starting point of the trading journey

In 2013, Chen Zihao entered the stock market for the first time and then gradually came into contact with the futures market. By 2016, he officially entered the threshold of foreign exchange trading. When talking about why he chose trading as his career path, he admitted: “First, it comes from the original charm of trading, and he is attracted as soon as he comes into contact. Second, my personal growth environment, in a small city, I saw the outside world through the Internet, and foreign exchange trading just fits this point. More importantly, night trading does not affect my work during the day, and gives me more free time.”

Although Chen Zihao is currently trading in part-time, he said that if he can, a full-time trading would be a better choice. He is in contact and cooperation with some offline trading platforms, but the most important thing is to keep learning. He still keeps trading at nightGet used to it, face the ups and downs of the market with a normal attitude.

Trading Decisions and Strategies

In trading decisions, Chen Zihao relies more on technical analysis, accounting for 70%, while fundamental analysis only accounts for 10%. Intuition, experience and luck together account for the remaining 20%. He knows well that the key to stable profits in the medium and long term trading is position management. Position management is not only about profit, but also about mentality. He explained: “A heavy position may bring huge profits, but it will also cause mentality imbalance and lead to a deformation of trading technology. A light position can avoid emotional trading, but it may miss large profits in smooth markets. In addition, when you need to increase your position and when you need to reduce your position, you also need to have a deep understanding and understanding of the market. Therefore, I think how to hold the right position is the core of trading and the key to long-term stable profit.”

Chen Zihao’s trading strategy has basically not been greatly modified, and it mainly provides more refined control in positions. In the future, he plans to make some detailed improvements to the trading system, such as clarifying the entry and exit points, and strengthening his basic K-line skills, chart reading ability and review ability.

Caring luck in trading

For the luck factor in the trading, Chen Zihao chose to wait for the most confident market conditions before trading. He believes that this can increase his chances of making a profit. When encountering a large loss, he will set the position with losses and change it to a small position to continue trading, while maintaining stop loss and take profits to execute according to the trading system.

Chen Zihao admitted that he had experienced countless liquidations, mainly because of the imbalance in mentality and technological deformation caused by improper position management. After each liquidation, he would reflect deeply and stop trading that day. The next day or a few days later, analyze the reasons for the big loss, adjust your mentality before continuing to trade.

Market volatility and risk control

Regarding the volatility of the market, Chen Zihao said that he prefers smooth and volatile markets, such as the gold market. He believes that greater volatility means more risks and opportunities, which is exactly what traders are pursuing.

In terms of risk control, Chen Zihao is expected to occupy 20% of each transaction30% risk. He revealed that after each maximum retracement occurs, the average time is 1 to 2 weeks to return to the previous highest net value point.

Thoughts about participating in EagleTrader

When taking this EagleTrader exam, Chen Zihao said that the biggest gain was that he had more understanding of control retracement. He admitted that because of the constraints of the examination rules, he paid more attention to the retracement situation in the transaction.

Finally, for the newly registered Eagle trader, Chen Zihao gave his own advice: “Don’t think too much, stick to it and persist!” For him, trading is a long and arduous road, but as long as you persist, you will definitely gain something.

I believe you have received a lot of incentives and inspiration for the generous sharing of such excellent traders? If you also want to become an EagleTrader trader like Mr. Chen Zihao, then click:

https://www.eagletrader.com.cn/Register now to join EagleTrader and become a top trader with us and unleash your trading potential!