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Successful Trading is Beyond Instinct

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Guest profile:

Inna Rosputnia is a female trader with more than 12 years of trading experience. She was nominated for the Women in Finance Awards in 2016 and received an award for Leading Innovator in Wealth Management and Most Outstanding Woman in Finance. She is also the author of the book Basic Instinct of Trader and the founder of Lady F Trader, a company focused on providing personalized investment solutions to help clients achieve their financial goals.
In the male-dominated trading world, although female traders are a niche group, their careful, cautious, and objective personalities have always been considered easier to succeed in trading. Even Warren Buffett said: "Women are better investors." we interviewed an excellent trader who has grown from scratch to a millionaire in the past 12 years.

1. When did you first start trading? Is it self-study or is there a guide who teach you how to trade?

Inna:The crisis of 2008 was a turning point for me and the main reason I started trading. At that time family owned real estate of a total worth 16 million USD. We also had a lot of loans. Yet, we could get over 10 million after paying all credits. But, the crisis changed our situation completely. To make a long story short, we lost it all. And, we couldn’t do anything about it. We tried to sell our property, decreased prices, but no one wanted to buy. That situation made me look for another type of investment where we could have full control over funds no matter how the economy is doing. After research, I realized trading is the best way to reach my goals.
I started self-study and made all the mistakes a beginner trader can make. At some point, I was almost ready to give up. But I was lucky to get another turning point in my life. Larry Williams and his studies helped me to understand what I was doing wrong. I spend a lot of time studying market structure to understand what really makes the prices move.

2. What is your starting capital for trading? What is the current size of your trading funds? What is the situation of the first profit and the first loss?

Inna:My first deposit was $50k and I lost it. I started with forex trading and big leverage. That was my biggest mistake. Since that time I trade only centralized markets, like stocks and futures. My first trade was +1k. But later I lost the account. And I think it happened because of a lack of knowledge and big leverage. To be honest, I think leverage is the first enemy of the trader.
Next, I returned to trading after a long study and started with a 10k deposit. It was very risky as this sum was all I had at that time. And I didn’t have any additional income. It was tough. I don’t recommend anyone to put all money in trading. It is very difficult psychologically. You stay under pressure all the time.
It takes time to learn the market and learn yourself to get positive results consistently. I use the term ‘positive results’ to describe an average return. All traders have losing trades. But think about it as simple math - you just need an average profit to be higher than the average loss consistently. My trading philosophy and money management approach helped me to get millions under management and start hedge fund incorporation.

3. What is your biggest profit and loss in trading?

Inna:It was the same trade. I was up 320%. It was just luck. I didn’t have any good strategy as a beginner. Then, profit dropped to 170%. So, I told myself: ‘I am going to close this trade once it is back above 320%’. It didn’t happen. Instead, it went down to 40%. Again, I didn’t close it hoping it will be back to at least 200%. Greed took control over me when I saw I was down 30%. As result, I lost my first deposit of $50k. It shows the importance of being unemotional and realistic in trading.

4. Do you prefer technical analysis or fundamental analysis? Which trading varieties are you good at? Can you describe your trading strategy or trading style in detail?

Inna:I use both fundamental and technical analysis. When I say ‘fundamental’ I don’t mean news. News is just the noise. The set of factors I am looking at depends on a certain market. When it comes to equities, I focus on interest rates, Fed Funds forecast, unemployment and consumer spendings dynamic, etc.
Most of all, I like to trade agricultural sector. When this market has a fundamental cause for rally or decline, it plays very well. These markets are thin and more supply and demand-driven. To spot such trades I use cycles and extremes in commercials positions (Commitment of Trader Report). Backwardation is another sign of bullish fundamentals I like to use.
I think most retailers have never heard about CCC ( Commodity Credit Corporation). But it matters a lot for the agricultural sector. It is a government-owned corporation that aids US agriculture through price supports, supply controls, and controlling foreign sales. In other words, when the price of some commodity approaches a critical level, CCC comes into play. That was one of the reasons I bought sugar last year.
In the case of single stock trading, I first look for an industry that has a fundamental reason for the rally. Then I do research on individual companies, study their financial situation to find the strongest.
So, basically, I use fundamental analysis to find the market that is ready for rally or decline. After that, I use technical analysis to find an entry.

5. Many of your transactions have made considerable gains. What do you think is the core factor that makes you such a good trading result?

Inna:Big money is done during big trends. There is no other way. I accepted the reality. Such trends don’t happen each month. I would say 3 - 4 trades a year give most of the annual returns. All the other trades, give the way smaller ROI. I believe patience is what matters the most. Not each trade is worth risking your hard-earned money. So, waiting for a good moment is the key. Certainly, you need knowledge and tools to identify such opportunities and take advantage of them.
Oprah Winfrey once said: “I believe luck is preparation meeting opportunity. If you hadn't been prepared when the opportunity came along, you wouldn't have been lucky.” I can’t say better about trading. Preparation and research are the basis for good trading results.

6. When you first came into contact with trading, which trading books helped you the most? Can you recommend it to readers?

Inna:I am an old-school trader. And I always prefer a time-tested approach and strategies. So, I think the best books you will ever find are written by veterans like Warren Buffett, Larry Williams, ralph vince,thomas R.Demark,etc.
Ralph Vince, Thomas R. DeMark, etc. By the way, I also wrote a book that describes my trading journey and explains my approach in detail. It will be available soon.

7. In your past trading career, are there any unforgettable things for you? Can you share it with the readers?

Inna:Being not patient and unprepared. But I found how to overcome it using a simple psychological trick. Let me explain. What happens when you want to get a certain percentage or dollar amount of profits each month? - You start trading when there is no signal. As result, you make more bad trades and lose confidence. When you don’t get that certain amount of money, you think you are the loser. But, if you change your focus to mastering your strategy and trading approach instead of getting a certain dollar amount, you trade more carefully. You start to filter your trades and wait for a good moment because mastering is your goal. When you see you are doing better and better, you are more motivated. As result, you get good and consistent returns.

8. Which one do you think is more important in the trading center and technology? Can you talk about it based on your own experience?

Inna:I think having deep knowledge in your niche is number one always. Can you imagine a cardiothoracic surgeon who doesn’t understand how the human body works in general? It is impossible. The same with trading. You have to know the market structure and you need a basic understanding of how and why it works.
Very often beginners just look for some indicators or strategies that will make them money consistently. It is the wrong approach. Even if the strategy works for one trader, it doesn’t mean it will work for you. You can simply interpret the signals differently because you don’t have the same level of knowledge. Trading is not a casino, it is a serious business. If you want to survive and profit, you have to be better than others. There is no other way. It may sound terrible, but money doesn’t appear from the air. If you make money in trading, someone loses it. That is a bitter truth. Accept it; learn and master your skills to become a better trader than others.

9. Did you encounter any difficulties in the new trading period? How did you persevere?

Inna:Certainly, sometimes we have confusing conditions, like COVID. If some situation is new for me or I don’t understand what is going on with the market, I make a step back. I just observe and wait till the situation clears. I think it is a very important skill for a trader to identify uncertainty in the early stages and stay on the sidelines.

10. What will you do if there is a loss in the transaction? Do you usually set a stop loss for trading? How do you think about stop loss?

Inna:I am a swing trader. So, most of my stop losses are based on the closing price. If the price closes above/below my stop level, I liquidate the position manually. Sometimes I make day trades. But in that case, I use strict stop loss based on Gann levels. I believe the trader has to think about losses as his business expenses. If you have a restaurant, you have to pay bills, salaries, etc. All traders have losing trades. That is the part of this business. Don’t focus on that much - your net profit is what matters.

11. Congratulations on receiving the honor of "Leading Innovator in Wealth Management". In your mind, what qualities should a good trader have?

Inna:Thanks a lot. I think to become a good trader a person needs a mix of qualities. First of all, you have to be able to adapt to new conditions very fast. Also, in the beginning, it is very important to stay motivated. After few years in trading, you will get used to ups and downs. It becomes just a part of your daily routine. But, when you start, it is not so easy. You just have to brace yourself and never give up. Self-discipline and passion are driving power for a trader.

12. Does the trading work affect your normal family life? How do you deal with the balance between the two?

Inna:I have two kids. So, sometimes things can go crazy. But I have to admit trading is a great business to keep balance and have enough time for family. Swing trading requires more research than actual trading. Besides, it takes time for the market to set up a new trend. So, I always have enough time for research, trading, and family.

13. Do you think that learning from others or exploring on your own will grow faster? Please talk about your understanding

Inna:The truth is in the middle. It is very important to learn from successful traders, to know more about their approach. But we all have different risk tolerance, different character, goals, etc. So, if something works for one trader, it may not work for another because of these differences. But learning from others and testing will shape your own way of trading.

14. Please use a few sentences to briefly summarize your current transaction status.

Inna:There are around 8 markets I watching at the moment. Possibly, I will get few new trades in the coming weeks. Precious metals market may be setting up for a new uptrend. We have a bullish Intermarket forecast, evaluation model, and bottoming cycles. However, I would like to get additional confirmation, like extremes in commercials positions, etc. Also, GC futures have built a base near the weekly support level. So, I think this market is worth watching.
Stock traders can pay attention to the cannabis sector. I believe the coming year or two can be very good for this industry taking into account Democrats’ attempts to push legalization in USA.

15. In the context of the current impact of the new crown epidemic on the global economy, what trading strategies or suggestions do you have?

Inna:We experience very high volatility. It is not always good for retailers. I think nowadays diversification should be in the first place. It helps to reduce risks significantly. Besides, it is good to add less volatile financial instruments to your portfolio to secure initial investments and increase chances to gain profits.
Special reminder: The views of the guests in the article do not represent the position of this journal, nor do they constitute investment advice. The market is risky, and transactions must be cautious!


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