The most important thing is to wait until the market you can understand comes out before trading

Many people think that trading is a simple thing, but that is not the case. Although the market is full of countless opportunities, not everyone can perceive and grasp it firmly. More often, we will be disturbed by various factors such as our own emotions, domestic policies or international situations, and make wrong decisions. Therefore, learning to wait patiently until you encounter a market that you are familiar with and thoroughly understood before trading is the safest and wisest choice. This concept is also fully reflected in the interview and dialogue of our EagleTrader trader Zhang Sen. Next, let’s see how he did it!

Q1: When did you engage in foreign exchange trading?

“About ten years.”

Q2: What motivates you to stick to trading or make you choose a trading?

“Start it was pulled in by friends to do transactions, but later I persisted in doing transactions through systematic learning.”

Q3: After passing the exam, are you going to make a profit account in a full-time or part-time state?

“Trading is not something that can be done full-time. I will choose to do my own business normally. When the opportunity comes, I am doing the transaction because the transaction does not take up a lot of time.”

Q4: When you finally make a decision, what are the three items: technical analysis, fundamental analysis, intuition and experience in your trading decisions?

“Technical analysis accounts for 90%, fundamental analysis 10%.”

Q5: When was the last major modification of the strategy you are currently using, and what are your plans to improve it in the future?

“The strategy was about 5 years ago and was formed 3 years ago. The strategies were all imperfect. The most important thing was execution. I do not intend to improve the strategy, but it will be adjusted appropriately as the experience increases.”

Q6: How did you eliminate the luck factor in your transaction?

“In one sentence, execution ability, doing markets that can be understood, making money means luck, and losing money means luck.”

Q7: Suppose a position is added very heavily and a large loss unexpectedly occurs, and it is still early to exit the plan. How will you set a stop-profit and stop-loss and position plan?

“Every time a big loss is often caused by a loss when a position is added to a very heavy position. Therefore, risk control is done well, and no matter how much you can’t bear it when a position is added to a certain position, you can survive and have room for position.”

Q8: Have you ever exploded? Can you introduce the situation and mentality at that time?

“It is normal to lose your position. As long as you do it well, you can accept the scope of liquidation. I will not have any emotions when I lose my position now. Of course, I will definitely be happy to make money. If you lose your position, just use experience.”

Q9: Suppose a position is added to a heavy weight and you make a lot of money as planned, but suddenly there is a large profit retracement, what will you do?

“Short position.”

Q10: What do you think is the key to long-term stable profit in trading?

“The most important thing is to be able to wait, wait until the market you understand comes out before trading, plus reasonable execution and risk control, only by living can you have the opportunity to make money.”

Q11: Do you prefer a stable market or a more volatile market? Can you describe your understanding of volatility?

“Same doneIf 100 basis points are stop loss units, then I will definitely choose a market with greater volatility, because with the same stop loss, the profit will be higher only if the volatility is greater. ”

Q12: Assuming the risk that can be borne is 100 points, how much risk do you expect to occupy per transaction on average?

“Depending on the market size and configuration between 2/3 percent.”

Q13: Your trading experience can tell you how long will it take to return to the previous highest point of net value after each maximum retracement?

“It is often more difficult to return to the highest point of net value after a large drawdown, so risk control is needed to avoid a large drawdown.”

Q14: What will your biggest gain in taking our exam this time?

“The first re-examination was because I did not fully control the risk. When I encountered a large drawdown, the good opportunity came and there was not much money to use, so risk control was the most important thing. Later, after taking the exam again, I strictly controlled the risk control and would not be passive.”

Q15: Do you have anything you want to share with newly registered EagleTrader traders?

“Wait, wait for the opportunity you can understand before taking action.”