Interview with trader Evgeniy Bely. Interview with a trader: Brett Steenbarger Tell me how you managed to take a leading position

This options trading master says, "You don't have to be an aggressive trader to make money like an options trader." After learning everything he could about options trading, Gavin McMaster decided to take matters into his own hands and start trading options. He had never worked a single day in the trading department of a financial company, although the thought had crossed his mind. McMaster even received a master's degree in applied finance and investing, but admits that this did not help him learn to trade options. He now maintains a very conservative options trading style and believes that patience and waiting for the best formations are the keys to successful trading. He prefers to focus on short volatility strategies. McMaster has written five books on options trading, which are available on Amazon.

Gavin, tell us a little about yourself and how you became interested in financial markets.

My first memories of financial markets are in elementary school. They are related to a fictional story told by the teacher. It was a story about an investor who bought a stock that went from $1 to $999. He became greedy and did not sell it. Of course, the stock fell back to $1, and this fictitious investor was back to square one. Since then, I've been fascinated by financial markets, so it's no surprise that I got into the industry. My parents also played a big role. In the mid-1990s, they bought me $2,000 worth of shares in a telecommunications company. I was 13 or 14 years old at the time. I remember checking the newspaper every day to see how my stock was doing. From then on, I started watching other stocks every day and became truly fascinated by the stock market. I wanted to become a stock broker when I grew up because I thought that was the only job in the financial markets.

And did you end up becoming a stockbroker or something else?

As I grew up a little, I realized that I didn't want to be a stock broker. This is just a fancy name for the seller. I didn’t want to sell shares to clients in hopes of getting a commission, so I decided to do this business myself.

You are not only an independent trader, but also a trader who taught himself how to trade options. Tell us how you learned this.

I first learned about options in 2004, from a small book I received from the Wall Street Journal - "Introduction to the Theory of Capital and Investing." It contained the usual information about stocks, bonds, mutual funds and indices. There was also a section on options. I always knew that you could make money when the market fell, but until that moment I did not understand how it was done. I knew it was possible to short stocks, but I also knew it was difficult and risky. So when I first learned about options, I was very interested.

What was it about options that you liked so much?

I liked the flexibility. When I started studying options, I read a book that described 25 key strategies. You could trade very flexibly. You can make bullish, bearish, neutral, synthetic and volatile trades, as well as proportional spread trades. Exploring all these ideas made me feel like a kid in a candy store. Trading stocks compared to options is very boring because there you can only be long or short, or sitting on the money. There is no flexibility.

I read countless books and started trading in 2004. And then in 2007 I started trading credit spreads and iron condors. I was attracted by the opportunity to earn income without having to choose the direction of the stock. At that point, I went back to school and completed a bachelor's degree in financial markets, followed by a master's degree in applied finance and investment. One of the master's courses included the topic of options. While reading the course material, I realized that I already knew all this from previously read books and my own market research.

What led you to the decision to return to teaching?

I had a real thirst for knowledge. Besides, I wanted to improve my skills. I don't regret it, but I don't think getting a master's degree really helped me that much. The training program was great for getting into a specialty, but it didn't teach me how to trade. Theory was taught there, and theory is nothing until you put it into practice and put real money on the line.

Why do you think so?

Learning from a book is limited. There is no substitute for experience. And the only way to purchase it is to see it and make a transaction with real money. People learn from their mistakes. I paid for my “training” in full in the market in the form of unprofitable trades. In my first options trade, I bought a Put on one of the stocks. The only reason I picked this stock and this Put was because they were cheap. I only needed to invest $200. Needless to say, this trade was a bust and I lost 100% of my money. I also had big losses in 2008 - 2009 when the market crashed. I was making amateur trades, not managing risk, and not having a good trading plan. I thought I knew more than I actually knew. I didn't realize how important it is to have a trading plan in writing. I imagined that I didn’t need it, since I could keep everything in my head. Since then, I've realized that having a written plan isn't just important—it's impossible to achieve success without it.

Who were your mentors or who did you look up to when you were studying?

The biggest influence on my trading was Tony Sizemore. I first learned about him from a magazine article. I remember that some of the ideas he expressed simply amazed me. He just opened up a new world for me. I was a member of his trading group for over a year and it greatly accelerated my learning.

While trading options, were there things you encountered that you couldn't learn from books or people you learned from?

One of the most important indicators that I monitored is the so-called delta dollars. For some reason no one else talked about this. This is simply the delta of the position multiplied by the price of the underlying stock. It helps me know how much I am risking at any given moment. I have found this metric to be very useful in deciding whether to adjust option trades. In addition, Sizemore was well versed in “Greek management”, which also influenced my trading. Having rules based on delta/theta and vega/theta ratios is very useful for risk management.

How do these relationships relate to risk?

The Greeks and their ratios speak to the degree of risk associated with price and volatility. If these risks are outside my comfort zone, then I need to cut the risks.

What mistakes did you learn the most from?

There is one mistake I can't forget. I had a position in NDX that was too large for my portfolio. But I was stubborn and didn't think the market could continue moving higher since it was already quite stretched. The next morning, the Fed announced additional monetary easing and the Nasdaq opened about 2% higher. Unfortunately, I had to go on vacation that day, so I struggled with the deal while my wife packed her bags. I just needed to close the deal - there and then, but I adjusted it and left it open. It was Friday and I was worried all day while we were on the road because I couldn't see what was going on in the market. In addition, I knew that there would be no way to access the market the following Monday, so I was worried all weekend, and it almost ruined my holiday. My wife was understanding, but I can say that she was disappointed. This incident taught me that the risks should not be too great, and that when going on vacation, one should not leave trades open.

Looking back, what changes did you make to your trading that allowed you to become the trader you are today?

A couple of things immediately come to mind. First, you need to learn to be patient. Once I realized that I didn't have to be in the market all the time, I became a much better trader. Now I'm waiting for my ideal formation, rather than trying to "push" a deal. In fact, I just enjoy the periods of time when I'm not in the market because I can completely relax, and if the stock goes down, it doesn't affect me at all, but it gives me the opportunity to take advantage of the panic.

Second, don't take too many risks. Today I trade quite conservatively and I like it that way. My balance curve is flatter and I sleep better at night.

What do you look for when making trading decisions? Are these graphic formations, fundamental data, indicators?

I am definitely more of a technical trader than a fundamental one. I have a watch list and every weekend I look at short-term and long-term charts. I don't trade directionally often, but when I do, I use mean reversion rather than trend trading.

For options trading, I look at a 12-month hidden volatility chart to see where the price of the underlying asset is now relative to the recent past. I like to use Bollinger Bands to understand whether an underlying asset is in a contraction or expansion phase. If a stock has had a long period of price compression, I like to go long vega in hopes that a big move will occur, and vice versa.

What do you trade - stock options, futures or indexes?

I trade stock and index options. Most often, I only trade indices. This is because I don't like the risk associated with the possibility of a big move in a stock after a report or unexpected news, unless I'm in a long volatility position. I prefer to trade short volatility.

How many trades do you make per week on average?

I only make 2-3 trades a week. I prefer to trade less often, but with larger positions. I believe that it is much easier to correct 2-3 large transactions than 20-30 small transactions if something goes wrong.

When you are considering a trade, how do you determine what strategy to use?

I look at charts and volatility. Based on what I see, I form my opinion as to where the underlying asset might go over a given period of time and what the volatility might be. I have six main strategies that I use. From them I choose the most suitable one.

What variables do you consider before making a trade?

In addition to technical factors, I look at the strike price, position size, Greeks, number of days until execution, target profit, stop loss, and also develop a plan for possible adjustments.

What strategies do you like to trade and why?

My main strategies are iron condor, trapdoor (a version of condor I developed), butterfly, diagonals, strangle and wheel. Wheel I view as a covered call option on steroids. In short, wheel is a systematic way of trading covered calls, but within the framework of a long-term strategy. I divide my capital into trading capital and long-term capital. Wheel is a great long-term deal that I can create and not think too much about.

When it comes to trading capital, I prefer to be neutral. Directly trading is quite difficult; condors and trapdoors are perfect for this. The Trapdoor is similar to the condor, but moves a little slower and requires less attention and fewer adjustments. But I don't like to use them when the market is going up a lot. Diagonals and bearish butterfly are better suited here. So my strategies kind of complement each other.

What risk management strategies do you use?

I have a set of rules based on the delta-dollar metric. They help me not to exceed a certain level of capital risk. I also have other rules based on the Greeks, both for individual positions and for the portfolio as a whole. Another strategy is to buy additionally in long volatility transactions when VIX is low. This helps to avoid large drawdowns in case of sudden sales.

What made you want to start teaching options trading to others?

I have always enjoyed teaching others. Even as a child, I was confident in teaching others; it came naturally to me. I really like explaining things to traders. Many of them said that I was able to explain difficult-to-understand ideas and boil them down to things that were easy to understand.

Trading is a lonely business and during the training sessions I meet so many interesting people. I enjoy communicating with other traders via email, Skype or online. None of my friends trade, so teaching options has allowed me to build an incredible network of traders that I interact with regularly.

What most often causes difficulties for novice traders who learn to trade options?

The main thing is probably their income expectations. I receive a lot of letters asking “Is it possible to earn 10% per month?” We have to explain that if you want to earn more, you need to take big risks. You need to be realistic. Most beginners don't find success right away. There are a lot of mistakes at first. Warren Buffett earns, on average, 15-20% per year. So if a newbie hopes to make more money, he needs to be better than Buffett and most hedge funds. How realistic is this for a beginner?

What does it take to become a successful options trader?

The main traits that I believe you need to have are patience, discipline and desire. Patience - to wait for the right formation, discipline - to have a plan and stick to it, and desire - because if you do not have a burning desire to succeed, you will not be able to survive difficult times, and there are bound to be some.

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Question: You are a day trader, tell us more about your trading style.

Judy: I ​​love day trading because that's really what I want - a lot of trades or a few trades depending on how I feel. I learned a long time ago that you shouldn't trade when you're not in the mood. So I trade when I feel like it, and when I'm not trading, I enjoy chatting with other traders, typing comments, studying charts, and answering questions.

My trading style is very short term trades. I use constant tick charts of 30, 50, 75, 150 and 300 ticks. I set my stops fairly close because I don't like to give away too much or wait for a recovery. I prefer to re-enter the market when the trend continues. So I will have 3 trades during the trend where the trend trader will only be able to make one. My goal every day is to finish in the black every day, including broker commissions. The rest seems to work out on its own.

Question: How often do you achieve your daily goals?

Judy: Before I learned to stay away if I didn't feel like trading, I might miss my goal up to 5 times a month - now that happens very rarely. I still review my trades at the end of the day to make sure I'm following my rules. I think this is very important to do to grow as a trader. Even if the trade is a losing one, if you followed your rules, you will end up winning. I also feel it is important to have your own system. It may be bits and pieces of other systems, but it should be your system, with your own rules that suit your personality and your trading style. If you are not trading with something that you are completely comfortable with, it will usually not work well. Everyone continues to search for the "Holy Grail" and I really think it's very individual.

Question: What do you trade?

Judy: I ​​trade NQ futures. Before trading futures, I traded stocks during the day, and Nasdaq stocks tended to generate more volume. So I felt more familiar with NQ. I really enjoy switching to the e-mini because I don't have to look at stock charts all night. I can take a break from the market at any time and don't have to watch the market for days to figure out where it is. And I can do what I really love - visit the anonymous chat in E-mini, discuss trading and help other traders learn how to make money in the market.

Question: What does it take to day trade like you?

Judy: I ​​have two computers. One is a 450 MHz Pentium II with three monitors loaded with Ensign Windows and the trading platform. The other computer is a 500 MHz Pentium III with two monitors, which is used for chat, email, and networking. This seems to suit me.

Question: What data feed do you use and how comfortable are you with it?

Judy: I ​​use eSignal with Ensign Windows software for charting. I find this combination very reliable. I never knew how valuable constant tick charts were until I started using Ensign Windows. Minute charts can hide a lot - testing swing highs/lows, flags, etc. I seriously doubt I will ever return to trading the minute charts. In fact, I watch them to answer questions that other traders may have who do not have tick charts available.

Question: Could you tell us about some of your trading rules?

Judy: I ​​don't chase the market - if I miss a trade, then I miss it - there will be another opportunity. Also, if I miss a trade, it usually means I'm not focused enough. I reduce my position size if I have two losing trades in a row. Although this has not happened for a long time, but before I used to carry out a deal out of revenge - I tried to return the deal. When I was learning and continuing to trade on virtual accounts, I usually only allowed myself 3 losing trades on a real account before I had to return to trading on virtual accounts.

As I mentioned, I only trade when I feel appropriate and when the odds are in my favor. When I suspect that the market will upset me, I take a break. Flat moving averages, especially the 50- and 200-period EMAs, and price being pinched by them on the 75-tick chart are the two key signs I use to identify a problem area. This is a time to just watch until the market takes some direction again. I always know what reports are coming out and I'm never in the market when they come out.

Question: How important is good health to success in trading?

Judy: I ​​think it's very important. Just as you should try to do the best job you can in any job, you should be internally prepared to play the market chess game. If I'm not having a "busy" day, I tend to set a longer time frame and make fewer trades.

Question: What protection do you use to protect yourself from major losses?

Judy: I ​​hate losing money, so I hardly risk more than 3-4 pips. I haven't had a major loss for a long time. I always use stop orders, even when scalping, and plan my exit from the market.

Question: How long have you been trading?

Judy: I've been dabbling in stocks since 1994 and have had good luck with some of them. Because of a friend who was very ill, I did not trade much in 1998. He died in June of that year. I decided that I didn't want to go work for others and really loved the challenge of the market. Pete Boole's book confirmed my thoughts - I read it in one sitting. So, I bought a lot of books and started trading stocks at the end of 1998.

Question: You've talked about a lot of the things you do. What would you advise readers not to do?

Judy: Don't trade until you have your own system with your own rules. Even if it's someone else's system, you still need to make sure you fully understand it. Set the maximum amount of money or points you can lose in a day. Don't increase your position size if you are losing. Analyze your trades often - make sure you follow your rules - even if the trade is a loser, if you followed your rules, then you win. If something goes wrong, don’t rush – a position outside the market is also a position. You don't always have to be in the market. Discuss with other traders what you may be doing wrong. Some did this to me when I was trading stocks. I learned so much from them.

Question: Discipline is the most important element of trading, isn't it?

Judy: Absolutely. I believe the only way to find the “Holy Grail” is yourself, and not a trading system or technical indicators. I love communicating with other traders. Many people come to me and ask what was wrong with this or that transaction? Or they ask questions to learn. I don't like to see other people lose money - that's why our motto is that we will try to teach you how to trade profitably.

Question: There are many graphics programs available. Which ones are you familiar with and which ones would you recommend?

Judy: I'm familiar with Qcharts, TC2000 for end of day, IQCharts and QPlus for viewing. Last April I had problems with the data feed and I found eSignal, but their charting software at the time was not even close to what I was using with Qcharts. I went ahead and found "Ensign Windows". The combination of Ensign Windows charting software and eSignal data feed is best suited for intraday non-e-mini trading.

Question: Is there anything else you would like to add?

Judy: I ​​would like to give you my list of priorities:
1. Market challenge.
2. Help others learn to trade. I love teaching others.
3. And then comes the monetary reward.

Aaron Fifield: Hello Brett! Thank you very much for your visit! First, I would like to know how you got started in psychology, and also how you obtained your PHD degree (the highest academic degree in a specific science, in this case psychology)? Brett Steenbarger: Hello! Thanks for the invitation! So, my path as a psychologist took an unconventional path. Initially, I was more interested in philosophy. Of course, as a student, psychology played a significant role in my studies, but I did not think about making it the main work of my life until I read Ayn Rand's novel The Fountainhead.

Let's read correctly! Dr. Brett's last name is originally pronounced Steenbarger, not Steenbarger. YouTube on demand to help Brett Steenbarger.

This novel described aspects of psychology that I had not encountered before. It was about how people are able to achieve their ideas, goals, thoughts. Then I realized that many psychologists more often studied some kind of mental diseases, rather than mental capabilities person.

Subsequently, this path led to the fact that I now work with traders and investment portfolio managers. I explore the most striking human abilities, and also try to develop these abilities in people even more strongly.

AF: When did you become interested in the world of trading? How did you get into it?

BS: I first heard about financial markets when I was in high school. Later, when I was already studying at the University of Kansas, I opened my first trading account. It was the 70s. But, as you understand, I was completely immersed in psychology. Trading was my hobby, nothing more. So two parallels of my hobbies gradually began to line up - psychology and trading.

It was only around the 2000s that psychology finally merged with trading. Then I wrote my first book – “The Psychology of Trading”. The book quickly gained popularity, and I received an offer from one of the Chicago foundations to work for them full-time.

So I left the academic activity I had been doing before and started working with traders.

AF: Let's take a moment to look at your work in Chicago. What exactly did you do, and how did you help traders mentally – from the psychological aspects?

BS: I worked with market makers who traded the futures market. They placed thousands of orders every day. What interested me most was that they used completely different methods than those that I had read about in books on technical or fundamental analysis. Fundamental analysis was not their main tool. Technical analysis was also not suitable for them, since the main indicators were very late and their trading style was very fast. Most often they worked by analyzing order flow.

Of course, it was very interesting for me to study their mental behavior when making decisions. They faced various emotional factors almost every minute. My task was to maintain a rational view of the market in them, so that their mistakes were minimized.

AF: Great! You have worked with some of the best traders and fund managers in the world. Many of them received unimaginable incomes. I would be interested to know why such traders at some point turned to you for help? For what purpose?

BS: Great question. Actually, for the same reason why professional athletes work with psychologists. But the financial markets are a slightly different story.

The fact is that market processes are constantly changing. Accordingly, market participants, especially professionals, should also have a “creative tone” - the ability to adapt to new market conditions.

There is an interesting point here. I often communicate with traders for whom everything is going according to plan. It seems that they should have no reason to worry. But it turns out that they want to gain a deeper understanding of their best trading qualities, thereby increasing their stability.

For this reason, people come to me not only to solve problems, but also to improve their already high qualities.

AF: Thanks for the answer! Brett, tell us what you're up to today? What are your direct activities and responsibilities in the financial world?

BS: Today I work with some hedge funds and investment companies. I am not a full-time employee of any one location, so I may have multiple clients.

I also review and describe various trading strategies. Some are discretionary, some are mechanical. I try to identify certain aspects that a trader will encounter when using such TS.

But still, my main activity is to maintain trading efficiency. This is where I spend most of my time.

AF: Let's discuss probably the most common psychological phenomenon in trading - quickly closing profitable trades and holding unprofitable ones for a long time. What tips can you give to avoid this trap?

BS: Let me start with the fact that this may not be a psychological factor. It's not just that. Much also depends on the market and its volatility. Namely, from volatility.

It is precisely because of untimely adaptation to volatility that a trader can make this mistake. For example, in a fast market with increased volatility, it is difficult to hold a position when it brings you an already good profit. It's another matter when markets are slow.

Thanks to behavioral finance, we know that losses are experienced more strongly by people.
than profits of the same size. This adds “fuel to the fire.”

Therefore, I would say that this factor is not so much a psychological as a logical aspect. This is where the main difficulty lies - determining the line between the logical fallacy in your approach to trading and psychology.

AF: Most likely, such processes can lead to bad trading habits. How can you tell if a bad habit is actually bad and is harming your performance, and how can you break them?

BS: It’s worth starting with the fact that these habits need to be noticed and analyzed, regardless of whether they are trading habits or from everyday life. You need to approach such problems mentally, and not through force.

For example, let's say you have a problem with overeating. The first step you will need to take is to analyze the moment when you start eating too much. If you can’t focus on this moment, then how will you be able to get rid of an unwanted habit?!

Once you learn to “observe” yourself from the outside, your bad habits, you will be able to make connections between how and why they happen.

It's the same with trading. You must analyze your mistakes - identify patterns from them. For example, if after unprofitable trading you “jump” back into the market in order to return the lost money, this is a bad habit that most often leads to even greater losses. Analyze your behavior - most likely, you are angry and frustrated after a loss. Try to find a distraction: play the guitar, take a walk in the park or drink coffee - whatever. In a word - find an activity that will return you to a rational “course”. This way, unwanted habits will be suppressed over time.

AF: Okay, that's sorted out. Then it is interesting to understand how you can form positive habits that will be beneficial?

BS: Yes, indeed, one of the tasks of developing skills is the formation of useful habits.
To do this, you also need to analyze your actions that lead to positive results. This will take time, but in the process this action will become routine. And if this routine benefits your performance, then it is a good routine.

As a rule, such actions occur when we are motivated by something. In this regard, you need to look for sources of motivation, no matter where they appear for you.

AF: You talked about developing more strengths in your clients. But what if there are insurmountable weaknesses. What to do with them?

BS: Weaknesses are much more difficult to translate into strengths. You also need to know your weaknesses and try to avoid their manifestation in everyday life.

If I go back to trading, I would not be able to work like traders in Chicago - make quick trading decisions. Operational decisions have always been extremely difficult for me. Accordingly, in trading I try to avoid such situations, since I know that nothing good will come of it.

AF: Then How you understand that you are faced with a weakness, and not, for example, with a lack of experience. After all, even highly active intraday traders did not immediately learn their craft and their results were not immediately positive. How to understand What worth developing, and What Should I avoid it?

BS: Great question! Yes, indeed, it is not always easy to understand your qualities. Using my own example, I can say that you need to listen to your cognitive energy.

If you have been doing something for a certain amount of time and notice that each time you approach it with reluctance, and also quickly lose concentration, most likely this activity requires the actions of your weak side.

On the other hand, if you find yourself in a kind of “flow” - you don’t notice how time passes while you are engaged in an engrossed process - then this activity is closer to your liking.

When trading, everything is similar. There are strategies that irritate and quickly drain your strength, and there are strategies that keep you calm and determined. It is the second internal state that we should strive for.

I'll add my story.

I have never worked as a full-time trader in my entire career. I tried to come to this, and I even made good money during such periods, but the paradox is that it annoyed me! I realized that I love working with people much more, as this is my strength.

AF: What can you say about the goals that traders set for themselves? Are they necessary in trading, or can they just get in the way?

GG: Goals are a great thing. But the main mistake when setting goals is that they are only set without creating a plan to achieve them.

When you set yourself a trading goal, you will have to map out the path to this goal - step by step. This way, you can find stability in your actions and get closer to your goals. Tasks and goals without a plan are dreams. That's also good, but most likely they won't work.

AF: What can you say about losses and failures in trading? How do you help traders who are going through a similar phase? Perhaps there are special methods?

BS: Indeed, such a period occurs in every trader. But it is not all that bad.
If we take the example that you consistently earn money in the market, and at some point you begin to lose money, most likely the reason is not that you have become worse, but that the market has begun to change. This is the case when you must adapt and learn new market models, thereby earning yourself additional experience.

There is no need to be afraid of such moments. Yes, sometimes they bring us negative emotions, but after such a period everything falls into place, and you become stronger and more experienced. This is an inevitable part of this business.

AF: Thanks for the answer! Brett, please tell me How do most traders relate to money? After all, many fall into the framework of greed, and this happens often. So, how do you help traders look at money “soberly”?

BS: In fact, most traders I've worked with don't look at money through the lens of currency, but rather through interest or pips. And this is the right action, since it is better not to concentrate your attention on the monetary equivalent of your portfolio.

The minimum amounts that traders worked with in Chicago were about $2 million. Portfolio volatility sometimes reached several percent per day. If they counted their profits and drawdowns, their heads would spin!

So you should get used to simple percentages - it will be psychologically easier to work in this way.

AF: What can you say about pressure? Many people are under pressure from many sides - be it risks, or time frames, or some other factors. How does this affect work?

BS: Negative! It's hard to take any risks when there's a gun pointed at you. But there is a solution. First, you must be distracted from a series of losses or other negative factors. Do something that can distract you. Haste does not lead to anything good. No matter how long it takes, try to abstract yourself from problems.

Secondly, trading should not be the main meaning of your life! There should be other things you would like to spend most of your time on. Working 20 hours a day, opening hundreds of transactions and constantly moving in this mode is the wrong step! Sooner or later you will burn out physically and mentally. Find balance in everything, and pressure will bypass you.

AF: Thank you for your time and useful information! That's all. See you in touch!

Not long ago, on September 28, 2013, he finally turned 18 years old and we opened an account for trading.

Good afternoon Alexander, I would like to hear your impressions of this good news, it was not easy for us to find you!

Good afternoon. After my victory in the Gagarin competition, 2 years have already passed and for me this is a very significant period. I can tell you for sure that these years have not passed in vain. I heard the phrase that I had been waiting for a long time, “Account has been activated,” after writing to AForex technical support. To be honest, I was very worried and did not think that after such a time the funds would remain with me, and I had never worked on a real account with such a deposit.
I hope that 2 years will bring results and my account will only grow.

I would like to go back to 2011 and find out how you met our company?

Sergei, my friend, introduced me to trading on the foreign exchange market. At that time, he already had a real account on which he taught me. Actually, the account was opened with you, which is why the “GAGARIN” competition caught our eye.

Why are you interested in the Gagarin competition?

I liked the conditions - firstly, because participation in the competition was free and took place on demo accounts, also since I was studying at that time - the timing was also important, as far as I remember, there were 3 competitions a day, 8 hours each, which It suited me very well.

Did your parents know about your hobby?
How do you think they perceived this serious hobby?

Yes, my mother knew that I trade on the Forex market, or rather, I participate in competitions related to the movement of currencies. All this was free, so she didn’t mind, she was even happy that I was passionate about something.
And of course, I was pleasantly surprised by my results.

Tell me, how did you manage to take a leading position?

At the time of the competition, the EUR|USD pair was moving upward for a very long time. It was possible to achieve colossal profits in a short time by buying a pair several times a day and fixing an insignificant profit of 10-15 points, which was then reinvested, thus again and again. Of course, I didn’t succeed the first time. I have participated in this competition about 10 times, the last time was very successful.

Was it difficult for you to wait to win? Was it a shame to find out that the account will only be activated after 2 years?

Of course, I was upset because I was not able to use the funds due to my age, but for me this was the first serious victory. Of course, there are even more advantages to this. Everything that is not done is done for the better. Most likely, I would have lost the money, given the volatility of the market. These two years I tried to improve my knowledge as much as possible - and I am more than confident in myself. Well, the account that will be mine in 2 years was very motivating.

At the moment, what trading style do you prefer?

I like scalping most of all, although I understand that on such short movements it is almost impossible to determine the price direction.