Welcome to the second interview in our trader-series.
Many of you know Pierre from his very active analysis work on many social medias. Many traders have learned a lot from Pierres very informative and easy to understand videos.
Here comes the questions Pierre gave on our 10 questions:
10 Daytrader questions:
1. When did you day trade/swing trade for the first time? And how did you get started?
I started in 2009 with Swedish stocks without any training and after losing 50% equity I started to read and study, and on the way, I got in touch with forex trading and was very excited about the leverage and went with forex. Since I was thinking no need for big account 😊 then leverage and market humbled me again.
2. How long time did it take for you to have your first profitable month?
About 3 years
3. What was your biggest mistake in the beginning?
Not getting the right knowledge, specially about how important the risk and money management is in trading.
4. Which markets are your favorit markets to trade?
USDJPY, AUDUSD and GBPUSD
5. How many trades do you take per week?
3-4, and when I have time for scalping about 5 per day.
6. In your opinion what is the most important skill for a day trader?
Risk and money management
7. How do you cope with a string of losers or with one really bad day?
Stop trading for the day, a bad week then I stop trading for a whole week and try to do something else away from the market
8. What is your best advice for people wanting to learn day trading?
Work on psychology from the start, and never think that it will be as easy as a demo trading.
9. How much start up capital would you recommend as a minimum?
10. Where are you as a trader in 5 years?