In the recent TFT interview, they interviewed Jacob Reed, a seasoned trader
In the recent TFT interview, they interviewed Jacob Reed, a seasoned trader
In the recent TFT interview, they interviewed Jacob Reed, a seasoned trader who has honed his craft over the span of three years. Jacob shares invaluable lessons he’s amassed during his journey, offering a unique perspective on trading, mindset, and proven strategies.
His early experiences have significantly influenced his current approach to trading. From these experiences, he’s carved out a strategy that resonates with his personality and comfort level, an essential lesson for all aspiring traders.
The heart of the conversation revolves around Jacob’s battle-tested strategy. He details his approach, emphasizing the importance of trading during specific market sessions and recognizing key price patterns. Jacob’s method highlights the significance of understanding market behavior, particularly during London and New York sessions. He introduces the concept of “Judas swings” during these sessions.
Delving deeper, the interview shifts towards the realm of psychology – an area often overlooked but paramount to trading success. Jacob opens up about his own trading psychology. He emphasizes the importance of acknowledging and understanding emotions rather than trying to eliminate them. Drawing from his own experiences, he advocates aligning trading strategies with one’s personality to mitigate internal conflicts.
Risk management takes center stage as Jacob elucidates his approach to preserving capital. He shares his perspective on risk percentages per trade, giving an insight into how he maintains a balanced approach while striving for consistent gains. His advice on patience and embracing trading as a long-term endeavor resonates with traders seeking quick profits.
“Take it slow,” Jacob advises newcomers, steering them away from the allure of overnight riches. He underscores the necessity of a thorough understanding of the market, eschewing shortcuts that may hinder long-term success. His counsel to practice on demo accounts and cultivate a deep-rooted trading model is invaluable for those embarking on their trading journey.
The full interview? Here it is:
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The Funded Trader follows a belief that every retail trader deserves an opportunity to raise capital based on their performance and commitment to building their own business. They are searching for passionate and experienced traders who will succeed with the help of their funds by showing skills in various market conditions.
Bespoke Funding strives to create unique funding opportunities for traders worldwide by creating approachable ways to become a professional, funded trader who can remotely manage their capital. They have developed a user-friendly experience with the industry's best technology to back it.
MyFundedFX offers traders three different challenge programs that aim to provide an opportunity to trade without risking their own capital. Profitable traders receive a payment based on a specific percentage of the profits they make while having no liability on the firm's capital, meaning that they will cover all losses.
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