Trading Insights from the floor of the Sydney Futures Exchange
I have been having an interesting conversation via email with a gentleman trader who traded on the Floor of the Sydney Futures Exchange (SFE) when interest rates were 18%. He actually spend the majority of his career in a bear market.
Here are insights he graciously shared:
- I loved the panic humans experience in a Sell market… it doesn’t seem to manifest the same in a rally.
- I learned that the mkt is made of humans and thus can be emotional.
- I learned the best way to really be focused on the market is to have a position. It creates conviction.
- I learned the best trader on the day can and often will be bad another.
- I learned to cut losses, and that it is most important to protect your capital base to trade the next day.
Still all just as relevant today. Thank again to the trader for sharing.
About the Author
Sam Eder is a currency trader and author of the Definitive Guide to Developing a Winning Forex Trading System and the Advanced Forex Course for Smart Traders. He is a key team member at premium FX services provider www.fxww.com and part owner of Forex Signal Provider www.fxrenew.com (You can get a free trial). If you like Sam’s writing you can subscribe to his newsletter for free: https://fxrenew.com/newsletter-sign-up.