FOLLOWInterview| Never Chase the Market
Trading and investing industry has always been dominated by male. In fact, according to FOLLOWME’s latest community report (Q3 2020), 74.7% of the traders are male. Hence, it is refreshing to see this week’s featured female trader, @Alisya on our FOLLOWInterview series.
Being a fulltime trader and analyst herself in Malaysia, Alisya is also leveraging on the COPYTRADE feature offered by FOLLOWME to be a significant trader/Signal provider. She joined FOLLOWME platform since June 26, 2020 and has been a positive influence with her voice to the community.
1. Can you tell us about yourself and your experience in forex trading?
“Never give up on something that you can’t go a day without thinking about”, this is the motto that I live on since the day I fell in love with trading. For sure there were times when I made profit, but there were also times when I made loss. After a while, I realised the most important thing from this journey is to always learn from your mistakes if you want to grow.
2. Do you remember when your first loss in trading forex was? Was it one of your memorable experiences?
Yes, definitely. I remember it well. It happened 3 months ago and the loss was about 5% of my equity. I never gave up and managed to recover successfully. During this period, it was carved into my mind that risk management implementation is always important to minimise your loss. So, this is another example to don’t focus on the mistakes but remember the lesson.
3. What was the biggest lesson from that experience and how do you continue to improve?
The biggest lesson for me was never chase the market. I learned from the idiom “Let bygones be bygones.” I improve myself in the perspective of patience and emotional stability by being practical when I trade in the market.
4. What pushes you to trade in forex?
In the forex market, I have the flexibility to go long or short; either way, making a profit or loss is always a probability. The Forex market itself is a high liquidity market with transactions completed at such a fast pace. There are many opportunities to trade and a wide variety of currency pairs that we can take advantage of.
5. What are the strategies you hold principle to when it comes to forex trading?
4 simple rules:
- Make peace with your losses.
- Don’t compare your trades to others.
- The only person in charge is yourself.
- Stop thinking too much because over analyzing paralyses you.
6. What advice do you have for the new traders or want-to-be?
You should use the trading strategy that suits you best, not the strategy that suits the community in general.
7. Is forex trading as volatile or dangerous as described by the public? Is there a gap between the real scene and the perception?
In my opinion, volatility is a double-edged sword; the market can quickly turn against you, so it is important to expose yourself with risk management. Yes, there is always a gap between reality and the perception, especially on the emotions part.
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