FX TOP TRADERS
trades until the next day. However, I will hold it to the aſternoon at most.
FXTM In your opinion, which are the most important skills that traders should have in order to become successful?
KF
Te most s uc c es s f u l traders aren’t ne c es sa r y the ones that have the best system in the world but you would find that they would have a very strong d isci p l i ne, or in other words, trading psycholo g y. To me, the most important skill
that in
is needed to control their emotions. Hence, I believe that the best gift that you can give yourself as a trader is to cultivate your discipline. Once you are able to do that, you will be way ahead of many of the traders out there. With the discipline coupled with the willingness to work hard to
KF Definitely. More and more young people are starting their trading and investing journey at an early age. As long as you have a laptop and an internet connection, you can start making money trading currencies on a part-time basis. The low start- up capital required as a trader also entices a lot of young people to go into trading. However, one thing
that a
trader should have
order
to become successful is more of a habit, which is discipline. Having the discipline to cut your losses early, let your profits run, learn from your mistakes, manage your risk and learn about
the markets
is so important. I’ve seen many educated people even with PhDs in Finance fail in the markets because they do not have the discipline that
36 FX TRADER MAGAZINE April - June 2017
master your craft, you will become a successful trader.
FXTM As a performance coach and speaker at various public events in Singapore and Malaysia, do you see a growing interest for online trading among young people in this part of the world?
The best gift that you can give yourself as a trader is to cultivate your discipline
they need to take note of is to ensure that they do not fall into the marketing gimmicks that are presented by some
Forex trading programs. Never believe the fact
that you
can become a millionaire just by attending a 2-day course or buying a Forex robot. I believe that anything worthwhile achieving requires hard work, patience and perseverance. If you are willing to do what other traders are not willing to do, you will be able to enjoy the profits that only the top 10% of profitable Forex traders have.
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