FOLLOWME Interview丨PRO TRADER VNM
@PRO TRADER VNM is a forex trader with almost 5 years of experience. With his strict capital management principles, from February to now, he has been profitable almost every month. His win rate is 72.19%.
In addition, he is currently participating in imTrader Trading Contest S9 and occupies 7th place in the Micro Account Group of Global Divison. We are delighted that he participated in this interview and shared his experience with you in the FOLLOWME community.
1. Hi, can you introduce yourself and how did you come to know forex trading and get started?
Answer: I am the owner of an SME business in international travel and tourism, in the process of doing business, I am also an English tutor for adults every evening, with a stable income. My fate came to trading 4-5 years ago, also thanks to one of my students, Phuong Thuy. When she studied English with me, she introduced herself as a trader. I think she works for a bank so don't ask more. Later, she read trading books in English, there were parts that she didn't understand so she asked me to translate. Then when I translated, of course, I grasped some information about the market, the method ... At that time we also confided a lot. After that, she introduced me to trading, I became her student again, I taught her English, she taught me to trade. Due to the nature of my work as a tourist, I am not often at home, so I stopped taking advanced classes about the stop hunting method after that. Phuong Thuy is also the first person to open my own real account at IC market. Since then, I've been tinkering with myself and continuing to learn, it's been almost 5 years now. I still stick with this trading profession, I no longer teach English every night, instead of trade when the US session opens. I later learned that Phuong Thuy is one of the pillars of Traderviet, she is quite famous and secretive in the world of traders.
2. Do you have an unforgettable memory in this forex trading market?
Answer: An unforgettable feeling is watching the first real account burn in 2017 when I first entered the market. Even though I only had $100 in my account, I went from $100 to $250 in just 1 week, then lose it all when the market hits a shot. That feeling is unforgettable. After years of thinking about it, again and again, I find out my mistake: no capital management, no emotional management, always thinking I'm right.
3. How is your trading method formed? Are you learning in practice gradually, drawing your own or learning from others?
Answer: Basic knowledge of the market such as how to buy and sell, pips, lots, major currency pairs, crosses, how to use MT4, MT5, how to read candlesticks, identify trends, identify peaks and valleys, support, resistance, basic indicators, reversal candlestick patterns... I all learned from Phuong Thuy's basic classes.
After learning and beating myself for a while, winning or losing, I started to learn about auto bot trading, I took a course on how to write bots, backtest methods, then wrote myself a fibo regression bot on M1 frame, trailing stop to automatically set stop loss, take profit when orders start positive about 10pip.
If you ask me what the main method I am now, I don't know how to answer anymore, I mainly let bots beat 24/7. I just enter the US session and use grid trading when I see a nice signal. The nice signal means right at resistance or support, reversal candlestick patterns appear. I sometimes open M5 to scalping according to 6-period RSI, MACD and Bolingerband. My teacher - Phuong Thuy - often tells me to play too much to watch out for the fire, but in the end, it's fine as long as the win is stable.
4. According to your experience, which trading strategy and principle is the most effective. Can you be more specific about those strategies and principles and give the reader a few examples?
Answer: When it comes to effective trading strategies or principles, I personally think it depends on what type of person you are and under what circumstances.
For example, if you are a hot-tempered person, or make a rash decision but are in a debt situation and want to make money quickly, your psychology to approach the market is no different from gambling. You will choose the method of scalping, quick in and out to make quick money, and you probably don't need to care about any trading strategy or principles.
As for myself, with my current trading strategy, which is bringing in 30-40% of my account/month and I'm trying to maintain this performance, it's quite simple:
- First, capital management, large capital and small investment (for example, my account is currently 20,000$, I have 0.08 lots/order, stuffed 7 orders with 0.08 lots (total 0.56 lots), then start folding lots x2 or x3 times 0.08, 3 to 5 orders up to 1.7 lots/order. Insert 4 orders in a row and see. The total volume for this string of 14 orders is 9.59 lots, capital of 20.000, leverage 1:1000, my account is still If I have more power to put in another 100pip. I usually don't let negative 100pip more, negative about 50pip is enough to cut my loss. As long as the total order by the end of the month is still fine. Which broker will let me play if I win 100% of the time.
- Second, the principle is not to participate in transactions when the market is about to release strong news. The strong news here is Nonfarm, the decisions of the Fed, FOCM. Because if the market runs 500-1000pip, the small account will burn down and some large accounts are still struggling, in the end, they still burn.
- Third, the principle is not to lose all of your capital. Sometimes you see that your account is negative 50-80%, if you cut it, it's a pity. You think that you should try and hope that the market will recover, the result is a fire, no capital, nothing left. So let's practice this principle, you should cut loss no matter how much negative percentage of the account, protect the remaining capital to redo, not stubbornly resist the market.
I used to have a very clear stop loss and take profit before. Now that I have experience, I am lazy to do it. I have a bot to do it for me, and if there is a command that the bot doesn't do, I do it myself. Greed is deep, I know enough. Less greedy, less suffering.
5. What investment books have you read? Which book influenced you best?
Answer: I haven't read any forex investment books, I only read the document file from basic to advanced of my teacher - Phuong Thuy. She has read and filtered all the quintessence for me, so I just need to read and master the theory in this document and practice and then learn from experience and find my own trading style. Besides, I often read e-books by Singaporean Teo Rayner on market psychology. So I never brag or quote any trader's words to share with good people. And there are no books that affect my trading life.
6. What do you think about fear and greed in trading?
Answer: Fear and greed show that you are inexperienced, lack of knowledge and lack of money. So it's best not to participate in this subject if you are greedy, or your account will burn sooner or later!
7. How do you balance trading and your life?
Answer: I am currently running 2 companies, one is a shareholder I am the general director, another was established in July 2021, which I own 100%. I also have a wife and small child, so I don't have to sit and look at candles all day. As shared above, I installed the bot and it fights all day and night, I don't play the Asian and European sessions, just waiting for the American session from 7:30 pm to 10:00 pm. If there is a good signal, I go in, eat 50 -100pip then I exit, otherwise ignore it, let the bot hit it by itself. So my life between company work - family - health - trade is quite comfortable.
8. You are currently participating in the season 9 imTrader Trading Contest, what prompted you to apply for this contest?
Answer: I joined this contest to see how much my method ranked in our community, nothing motivated me. Unfortunately, my main account is on the FBS broker, so I can't enter the contest. I also have a small account on KVB broker is now ranked 7th in the list.
9. Have you ever participated in a live trading contest? Is there any difference between the trading strategy used in the contest and the trading strategy you normally use?
Answer: No, I don't like to compete with anyone, so I haven’t joined any competitions before. I still use the daily trading strategy to enter this contest, there is no difference or change.
10. To you, what is most important in the competition: Prizes, Honors or something else?
Answer: Winning an award is an honour. And my goal is to test whether the method I'm playing is effective compared to the trading community. It’s called to see through life and death.
I am very grateful to Followme's support team for always trusting, accompanying and supporting. Last time I refused because I was afraid to appear in front of the community. I hope that my limited knowledge can help the community realize something for the very path they are embarking on.
Thank you very much FOLLOWME team.
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Proofreading: Haley & Jelly
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