Hi, can you tell us who you are and what you do for a living?
Hi, my name is Jason. Without going too much into personal details I can say that I am one of the many people who makes a living off of trading. In fact, as I say, I’m a slightly more sophisticated investor. I came into this world by dint of losing to others.
All the investments I had made ended up in the end, in some cases with a complete loss of capital. That was the beginning of my fight against the market. I said to myself: if I really have to lose, I might as well lose it myself. I too am capable of losing like those fools to whom I had given my savings and thank goodness they were professionals!
Tell us something about Wave-FX? Where did the idea come from? What are the aims of the project?
Actually, wave-fx.com was born as a joke. I saw that there were many websites promoting trading courses, signals, sale of indicators and trading systems.
Since I know how to program discretely, I said to myself, I’ll do it too. But sincerely I dedicate very little time to the site, it is not a professional site, I made it myself and every now and then I play with it and have fun. I post the things I do and the things I’ve created, but for now I haven’t gone any further.
You asked me about the purpose of the project, well, one of the reasons why I created the site is that there is so much rubbish out there that I said to myself: if they sell it, I can sell it too! Then thinking about it, you don’t sell things that work for 150 euro. In fact, you don’t sell them because they crack them, and your work goes down the drain.
Would years of research and development that cost thousands of euro be thrown away to get some 150-euro subscription? No thanks. If I get to do something, we’ll see… Well, I’m thinking about it. In any case, if it were to happen, I would propose myself for a high-end service and not a low cost one.
How did you get into trading for the first time? Which markets did you start with?
I got to know the world of trading through a friend and I started working with forex, indices and commodities from the very first moment I started to study the first strategies to perform in this world. I soon realized that being a trader was the only thing I wanted for myself. Passion and perseverance have been my winning weapons.
Looking back, would you do it again?
I would definitely do it again, but I would only work with forex.
Nowadays, trading in financial markets is becoming more and more popular all over the world and we can see many beginners and even young people trying to beat the markets. What would you recommend to these traders who are starting their journey now?
I would advise those who are new to trading to only do forex, have a very small watchlist of 5 instruments maximum and use low leverage. Study multiple strategies and choose the one you like best, insist on your technique and don’t overdo it by opening too many trades.
So, you are suggesting working only with forex? Why?
I recommend working only with forex because indices have too big a swing and commodities are dangerous, especially oil which is affected by news every day.
How long have you been trading on the real account?
I have been trading in real for 11 years, almost 12, after a few months of demo trading I started immediately with real accounts, small ones of 5 thousand euro. I started with real accounts, because in demo there was no emotion. You have to learn to manage emotions – even with a small account.
Do you remember your best and worst trade? What were they and did you learn any lessons from them?
My best trade was in December 2016, when I bought EUR/USD at 1.0400 and closed the trade at 1.0800 doing +40% of the account with one trade in 6 weeks. The worst trade was with DAX in 2014 -9%, also due to a gap which amplified the loss.
What is a standard day like for you?
For me a standard day is to do intermarket analysis of the main markets at 9am, although I don’t work with indices and commodities, but I need to look at them for correlations with forex, for example oil with USD/CAD… I check the charts every hour to see if there are any sub-trends to work with. I don’t use time-frames lower than H1.
Do you consider yourself a “professional trader”? Why?
Yes, I consider myself a professional trader because I live from trading. When I was an employee trader, I was the one who performed the best. I rarely closed a month with a loss and my annual performance was almost always over +50%.
Do you trade alone or are you part of a trading community where you exchange ideas and share experiences?
I trade alone because I don’t want to get mixed up with other trading ideas or strategies. My way of trading is different from most common trading.
Swing Trading is a fairly new strategy in our offer and so far, it does not have such a long history. On the other hand, its performance is very interesting. How long did you work on this particular strategy before it started?
I have been creating and refining the Swing Trading strategy over the last 7 years. Having worked as a fund manager I understood how the big banks moved and I created this strategy so that it was different from more common trading and not subject to market traps.
Could you introduce us a bit more Swing Trading? Where can we see the limit?
The description of my strategy is not very long because the method I use is very simple and clean in the sense that I do not use indicators and do not draw a thousand trendlines. I like the simplicity of riding the price swings in the direction of the trend and especially understanding which side the big banks have positioned themselves on currency futures. It is crucial to understand how many options the major hedge funds have bought and then follow them both harmoniously through forex. In practice, the strategy is based on simplicity, clean charts with indicators, perseverance, patience and is accompanied by the strategy of the institutions.
Swing Trading has performed very well over the last couple of months. Have you made any changes to your strategy with regard to the current global situation and the huge volatility observed in the markets?
I have not made any changes to the strategy during this particular market period. I just lowered the leverage.
What is the future of the forex market and trading in your opinion? ESMA regulation, market volatility, trading robots, …
I don’t have any faith in market robots because they can’t recognize false signals. Volatility is normal to change every 2 years. As far as ESMA is concerned, I don’t know if anything will change in the next few years, but I hope they will increase the leverage to those who have experience for at least 5 years and who prove to be capable and profitable traders.