Don't be afraid of losses...

8 June, 2018

“Don’t be afraid of losses, they must be a part of your trading plan” - interview with Drag Trade contest winner


The winner of the 421st round of Drag Trade, Denis Nemchinov is a trader with 14 years of experience. He told us how he had learned trading and why the emotions gave way to calculations.

Trading experience: 14 years
Preferred instruments: EUR/USD, GBP/USD, USD/CAD, AUD/USD
Trading strategies: intraday scalping

Tell us about yourself: your work, hobbies?

I’m 35 and I’m a business owner. I love miniature sculpting and sports.

How did you become a trader? For how long have you been trading?

I’d always been interested in Forex trading, and I started getting into it myself in 2004. I didn’t learn trading properly, I simply read professional books and visited online forums. Now many brokers offer educational courses and webinars where you can get all the necessary knowledge. For those who are already familiar with the basics, the most effective way of learning is the trading itself, immersion into the market.

Has your attitude towards trading changed over the time?

At first, I viewed trading as a game and approached it with thrill and excitement. Now it’s all figures and charts to me, rational calculation and understanding that knowledge and hard work are behind all this.

What are your goals and what trading achievements are you planning to make?

I don’t set any specific goals for myself. For me, trading is a mental workout with profit as a pleasant bonus.

Tell us about your most successful, most unsuccessful or just memorable trade.

My most memorable trade was also my first one. I’ll never forget my feelings when I blew $1000 on my account. After that, I started actively reading professional books and learn the basics of trading.

How do you handle anxiety while trading? What helps you control your emotions?

I try to think through all the minute details of a trade, where to open a position, where to close, what are some of the possible negative scenarios in my situation. That’s why when a position is open and the levels are set, the trade is set in motion and doesn’t require my attention. I minimize the trading terminal and go about other things and check the result some time later.

What’s important for you when choosing a broker? Why Grand Capital?

It’s important for a broker to have a decent reputation on the market, convenient trading conditions and good relationship with clients. Grand Capital checks all these boxes. I started trading with this company on the advice of my friends. I liked the favorable conditions and the wide range of services.

What do you like about Grand Capital contests?

I like that the contests are very different, held quite often and don’t last very long, without dragging on for months. And, of course, good prizes that provide the incentive for further trading with Grand Capital.

Tell us about this round, what strategy did you use, what helped you win?

To be fair, the victory was a big and pleasant surprise for me. My strategy was aggressive scalping with large volumes and high risks.

What’s your word of advice for novice traders?

It might sound corny, but you have to learn. Not only the technical aspects and basic concepts but the understanding of the market. Don’t be afraid if losses, they must become a part of your trading plan. Try to get rid of fear and excessive excitement. Emotions create the wrong approach to trading.


Source link  
Interview with contest winners

It's quite possible to successfully engage in investing while combining it with your main occupation. Learn how a farmer from Iraq, a factory...

Grand Capital financial forum

Grand Capital Financial Business Expo took place in Windhoek on March 2, 2019. The event was dedicated to the promotion of financial literacy...

Interview with contest winners

We've been noticing lately that our traders tend more and more to study online. Social media and YouTube are surpassing classroom education...


Financial forum in South Africa

We continue to organize financial and Forex-themed events in Africa. Come to Grand Capital Financial Business Expo in Johannesburg, South Africa...

Make a prediction and get $150

Our regular prediction contest is more difficult this time, while the prize has been tripled! Head over to our Facebook page to take part in our contest...

Gather your World Cup team

Gather your World Cup team promotion was held between June 14th and July 15th of 2018. We announced the winners soon after the final World...


Interview with contest winners

In today's interview round-up meet the new winners of Drag Trade and Rally Trade contests and read the inspiring story of Rustam Pak from Indonesia. He started...

Win Grand Capital Cup!

From June 14th to July 15th, 2018, Grand Capital holds a World Cup-themed promotion 'Gather Your Team'. We invite traders who are partial...

Grand Capital at iFX Expo 2018

Traditionally, iFX Expo has always been attracting the leading financial companies. Just like a year ago, we participated in the expo together with our...

  


Share: