INSIDE THE TRADING JOURNEY: A CAPTIVATING INTERVIEW WITH DAY TRADER BOGDAN
The next release of The Interview with a Trader is already here! We cannot wait to share our insight into the trading life of Bogdan, a day trader from Kosovo. Let’s not hang a leg.
Diana: I am happy to talk to you, Bogdan. It would be nice if you introduce yourself to our readers.
Bogdan: Hi, everyone! I am a Kosovo citizen living in Belgium because of a new project. I started in 2018 as a member of one American company. I was with them for a few months as a web designer. I did not like to work here. So, I quit and started my own project.
I have been trading live for almost 4 years and had a lot of capital ups and downs. I am a part-time daily trader with occasional aggressive “habits”. I trade 2-3 hours a day.
I like not only the currency market (although it brings about 60% of my monthly profit) but also gold and crypto. In addition, I do not limit myself solely to trading. I continue to work in my main specialty as a UI designer and as a trading mentor.
Diana: What were your trading aims?
Bogdan: My main goal was to develop my skills and help others grow in this field. That is why I founded an analytics school a year ago.
Diana: What is your trading routine?
Bogdan: Actually, I trade only about 3 hours a day. Most of the time is spent studying information about the situation on the market. Until recently, I personally collected information. Now, I use the services of various analytical firms to save my time for more crucial things. They email me the collected data every day in the morning. I get acquainted with the materials and (based on them) make a decision. The main thing, in this case, is to correctly read and interpret the information received so as not to make a mistake.
After receiving the information, I study the chart to capture the mood of the bidders. If I see a trend, I trade. If I see consolidation, I take a break from trading that day. If everything is OK, I open a trade, set the SL, and go for a run. I usually implement the trading plan within 3 days.
But even if the order is open, I still study the information received from the agencies to keep abreast of global economic updates.
The remaining 4-5 hours I devote to my work as a mentor: I help students develop their trading and analytical skills.
Diana: How did it all begin?
Bogdan: I was careful at the beginning of my career. Therefore, my first deposit was only one hundred dollars. They disappeared after 2 weeks. When I got used to it a little (and thought over my strategy), I was more confident of success and deposited $1000 into the account. It seems to me this amount is the ideal deposit to start trading. In fact, if the leverage is 1:100, then the volume of one order must not exceed 0.1 lot. It will make you more flexible and adaptive in trading. Also, it will help to bring certain concepts to life.
Two years later, I developed my own trading systems that were very reliable in different market states. So, I reached a stable income once a month.
Diana: Please tell us a little more about your strategy.
Bogdan: Well, who will reveal the full secrets of their trading? If you meet a trader who is happy to sell you a ready-made trading system or courses for successful traders, know that you have fallen into the clutches of a scammer. People do not like to share the secrets of their success (especially for pennies). Experienced traders can only offer the following: they can take the beginner's funds under their control and ask for a 50% reward based on the trading results. Under this condition, a beginner can get 150-200% profit from the invested funds.
Diana: What are your TOP 3 trading platforms?
Bogdan: MetaTrader 5, cTrader, and NinjaTrader. To mention brokers, I prefer using Oanda and ICMarkets. I think that MT5 is especially good because it has a great variety of options to trade. The MT platform is easy to use. Anything too complicated is not welcomed by pro traders. They need to think about the trading process. They do not want to be distracted by the software trickiness.
Forex is my favorite market because it has the most liquid assets. My favorite pair is the GBP/USD because their volatility allows bringing the maximum profit if the strategy is implemented successfully. If we consider the average daily volatility of these assets, it is about 130-150 points by four digits. And this is very impressive.
Diana: If it is not a secret, what is your annual or monthly profit now?
Bogdan: No secrets. At first, I only lost, but this is not surprising. Sometimes a series of failures so demoralized me that I quit trading for a few weeks. But years of practice and the development of the author's methodology have borne fruit. Now I make over 25 thousand dollars a year thanks to Forex trading and copy trading. But this sum may vary from year to year.
Diana: You mentioned analysis. What type of analysis do you use the most?
Bogdan: The fundamental one. For example, in my trading, I check and analyze:
- Central bank reports
- Microeconomics geopolitics data reports of highly capitalized companies
- Indices NYSE, DAX30, S&P500
I use Fibonacci and Price Actions to find the optimal entry point.
Diana: Where did you learn about our product from? At what stage of your trading career did you make the decision to use copy trading software?
Bogdan: I came to it in 2020. My student from Texas told me about your company. Oh, yes, in some respects, my students are more advanced than me. And it pleases. At first, I did not trust you. But after trying the demo of your product, I changed my mind. Right now, I have the licensed version of Forex Copier.
Diana: Did you use any software similar before?
Bogdan: I have never used similar software before. Moreover, I never even heard about other copy-trading products (to my shame).
Diana: Did you have any difficulty installing Forex Copier?
Bogdan: I could not copy trades in MT5 since the properties of the EA were misconfigured. Plus, it was not easy to understand the meaning of suffixes and prefixes. But I figured it out later.
Diana: Bogdan, what are your overall impressions of our software?
Bogdan: Forex Copier helped me a lot with daily trading and mentoring. Now, my students can simply follow me and copy my trades. They know my skills and trust me. I have never let them down or broken their trust.
Diana: To your mind, what qualities are crucial for a trader?
Bogdan: Striving for development. To self-development, to be more precise. I always want to try something new. This way, you avoid being in the comfort zone, and the brain functions actively. That is why I constantly surf different sources, self-developing, trying new strategies, share successful ones with my students, and so on. The more I invest in others, the more I invest in myself, and the more I get. After all, the best way to learn is by teaching someone else.
Diana: What are the biggest misconceptions of novice traders?
Bogdan: They think they can develop an ideal trading system for every market condition. Holy innocence!
Diana: What advice would you give to newbies?
Bogdan: All the obstacles that appear on the way are the best way to improve. Defeat is an opportunity to grow. Never stop self-development and look for new ways to upgrade your system. Follow your dream up. Per Aspera ad Astra (from thorns to the stars). First of all, you will have to fight with yourself. Trading is not an easy way to get rich. It requires hard work and knowledge. You need to have a clear goal in front of you to continue what you started. Otherwise, you will give up sooner or later.