FOLLOWInterview | @xfinance 9999 - Discipline is the Key to Success
Expert trader John Hayden notes, “Without discipline, you will be unable to master your ego, create empowering beliefs, have faith, and develop confidence in your abilities. The lack of discipline will prevent your skill as a trader from progressing.”
@xfinance 9999 is such a trader with strong discipline and has always followed this trading philosophy, allowing her to maintain a stable profit for a long time.
Here is what you can learn from this trader:
1. Can you tell us about yourself and your experience in forex trading?
Hello FOLLOWME community, my name is Le Thi Diem Kieu. I was born in 1992. I'm a trader living in Ho Chi Minh City. I started learning and trading Forex in 2015, after ruining 4-5 accounts, I have learned a lot of trading experience for myself. Now I have lived with a full-time trading job and had stable profitable trading for the past 3 years.
2. Do you remember when your first loss in trading forex was? Was it one of your memorable experiences?
Of course, I remember the first time I lost money when I first started trading forex. I didn't do demo trading but loaded up $100 to practice because demo trading didn't interest me very much. The time of staying up at night because of opening many orders and not placing stop loss caused the account to fly quickly. But thanks to losing money, I studied more to find out the mistake in trading, and it’s also my success step later. It was truly a valuable and memorable experience in my forex trading career.
3. What made you continue to trade in forex?
What makes me continue to trade forex is that I believe one day I will make a steady profit after correcting my trading mistakes. Forex is still the world's largest scale financial market, attractive, leading, fair, high liquidity. And another reason is that I could be improved in terms of personality and analysis level.
4. What was the biggest lesson from that experience and how do you continue to improve?
The biggest lesson is that we have to discipline ourselves before thinking about making money in this market. Those disciplines are: waiting – managing risk – persevering.
I will practice trading more, read books and learn from other traders not only in Vietnam but also around the world.
5. What are the strategies you hold principle to when it comes to forex trading?
I follow 3 strategies. The first one is the trend reversal trading strategy, the Supply-demand method combining price and trendline patterns. Besides that, breakout strategy price pattern-breaking support and resistance is also a fascinating strategy. The final one is the trend following strategy based on support and resistance areas and reversal candlesticks.
6. What advice do you have for the new traders or traders want-to-be?
For new traders and old traders, I have 2 pieces of advice. Firstly, always adhering to capital management and practicing risk management in 3-6 months will become good trading habits >> your account will go longer. The second is waiting patiently for confirmation signals to enter an order, it is better to be a little late for a sure signal than a nicer entry point, a higher win rate than be fast but fail.
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 fact, forex trading is not easily failed if you seriously learn enough knowledge, have good discipline about capital management, methods and psychology. Of course, there is also a gap between reality and the beginning of forex trading, but once you reach a steady level of earning, that gap will narrow.
8. Are you a Signal provider on FOLLOWME? Do you intend to help others to trade in forex?
Yes, I intend to help others make money together in these trillion markets. I am a signal provider on FOLLOWME with the brand XFINANCE.
Edited 29 Jun 2021, 17:16
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.