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Be the King of the Trading World

Put on your headphones and enjoy podcast ~!


Guest profile:

Vladimir Ribakov, currency pair and CFD trading expert, internationally certified financial technician, has more than 15 years of trading experience. His global trading community has thousands of trading students. After listening to his analysis, they can better understand the market and plan their own trading strategies.

Questions 1:When did you first start trading? Were you self-taught or have you had any have help from others?

Vladimir Ribakov:I started trading in 2006, right before the crash of 2007-2008. I did not plan to enter the trading world, but it was something that happened quite randomly. I was trying my luck as a young man at MLM (multi-level marketing) and one of the leaders of the group started a forex trading seminar. I attended the seminar and fell in love instantly. I have been on this journey ever since then.
I am a 100% self-educated trader. I read many books, but I gained all my real-life trading experience by trying things out by myself, making my mistakes, learning from them and trying to do better.

Questions 2:What was your Initial capital for the 1st time trade? What is the current size of your trading funds? What was the reaction to your first profit and first loss trades?

Vladimir Ribakov:I was a very young man and without real money in my hands, so my first attempts were all about 100-200$ accounts. As you can imagine, at the beginning most of accounts ended up with the same sad result.
However, today I trade with a pretty big capital that allows me to gain a steady monthly income.
I still remember my first win and to be honest, I think that it can be a very confusing moment for traders generally. You feel like you are a king and now you have a formula to beat the market and in most cases, this turns out to be completely wrong.
I also still remember my first loss and the painful emotions that followed it. However, looking back, I believe it’s essential to go through these emotions because at the end of the day, there will always be losses in trading and the sooner you make your peace with it, the faster you can become a successful trader. There are always losses at anything we do in life and it’s important to understand that there will also be losses in trading.

Questions 3:What is your biggest profit and loss in trading?

Vladimir Ribakov:My biggest loss was with the crisis in CHF in 2015 when the central bank of Switzerland did a dramatic announcement. It was a loss of about 25K loss. My biggest win was about 70K and it felt amazing.

Questions 4:Do you prefer technical analysis or fundamental analysis? Which products do you prefer to trade? Can you describe your trading strategy or trading style in detail?

Vladimir Ribakov:I am an internationally certified financial technician – which means that technical analysis is the main method for me. I believe that anything can be seen in the charts.
I mainly trade forex, but I also get involved in cryptocurrencies and stocks (mainly for investment purpose).
My analysis strategy is based on cycles and key trading levels from a multi-time frame analysis. I love to apply divergence trading methods as my trading techniques. To sum up, I do a multi-time frame analysis to find key levels for trading, and when I have the price respecting these levels I look for technical indicators like MACD to find divergence to enter my trades.

Questions 5:You have a good trading performance. Where do you attribute this?

Vladimir Ribakov:I am proud of the accuracy level I have reached. My techniques have been tried and tested and it seems that they are performing very well. I rely on my analysis and trading techniques to deliver results. I am 100% transparent with my trading club where my followers can see my trading sessions and enjoy my trading ideas in detailed trading reports.

Questions 6:When you first start the trading, which trading books helped you the most? Can you recommend it to readers?

Vladimir Ribakov:I enjoyed the books of Dr. Elder and for me the No.1 book is always “Reminiscences of A Stock Operator”. I also highly recommend a book called “Atomic Habits”- it is not specifically for trading, but it’s great to develop healthy and successful habits.

Questions 7:During your trading experience, are there any memorable events for you? Can you share it with readers?

Vladimir Ribakov:One of my most powerful memories is when I lost the money my parents had given me for trading. The shame of looking into their eyes and telling them the news is something I will remember always.
After that, I promised myself that I will do everything to find a way to become a successful trader and not only return the lost capital, but also so much more.
I also remember the big wins that helped me provide my family with what they deserve. I remember the pride I felt when I achieved my goals. I also remember each of my students that I mentored in my private mentoring program. Their success fills me with pride and happiness to have helped other people achieve their dreams.

Questions 8:Which one do you think is more important in terms of trading mentality and technology? Can you talk about it based on your own experience?

Vladimir Ribakov:100% mentality and psychology. It is like in sports, you can be the best talented player in the world, but if don’t have the mindset of a champion and a winner, you will never be a winner. The same is true in trading as well; you can have best strategies and techniques, but if you are not willing to follow a specific clear trading plan, you will not become what you want.

Questions 9:Did you face any problem at the beginning of the trading? How did you persevere?

Vladimir Ribakov:The only problems were the multiple losses. I just promised myself that I will never give up, and I was working very hard and practicing very hard until things became clearer and better. You must have an extraordinarily strong mentality not to give up in hard moments. The market will put every trader in a difficult position, but these are the real moments that separate winners and losers.

Questions 10:What will you do when a loss occurs in the trading? Do you usually set a stop loss for trading? How do you think about stop loss?

Vladimir Ribakov:I have come to realize that we much accept losses in trading. I remind myself that loss is part of the business and carry on. Every business has bad days, weeks or months, trading is not different.
I am not a big fan of stop loss generally, unless I do day trading. But, I always have an exit plan – when to cut in case things do not work the way I wanted.

Questions 11:What qualities do you think a good trader should possess?

Vladimir Ribakov:(1)The ability to deal with losses;(2)The ability to follow a clear trading plan;(3)To not get upset after a bad trade, bad week or bad month and just stick to the plan;(4)The ability to understand that some days there are NO trades to take, even if you spend many hours in front of the screens;(5)The willingness to improve, to learn and to become better.

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

Vladimir Ribakov:Trading can interfere with your normal family life only if you allow it to. At the beginning, I used to spend many more hours than I should trading. I was then angry and hated spending so much time away from my family and friends. I now know how to balance my time and I know that if there are no opportunities today, there is always tomorrow in trading. My family knows that when I trade – I need to be able to focus. And it helps a lot. But if I am with them, then I do not spend time finding new trades. My focus is absolutely on whatever I do.

Questions 13:Do you think that learning from others or exploring on self-learning will help you grow faster? And why.

Vladimir Ribakov:I think there is great value in learning from others. The mistakes others make are likely the same mistakes you will make. A smart person will learn from these mistakes the same way he would learn from his own mistakes. You do not really have to do all the mistakes by yourself. If everyone tells you that trading without a clear risk plan is dangerous, they probably have a valid point.

Questions 14:Please briefly summarize your current trading performance.

Vladimir Ribakov:My performance stands on average of 70-80% success rate with more than 1 to 1 risk reward. Meaning, for every 100$ I risk I earn at least 100$ back in average, at 70-80% success rate.

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

Vladimir Ribakov:I do not think anyone should change trading style at any moment. The market always finds the way to return to its natural balance and I do not believe changing styles is really required. Following a clean trading plan and a clear risk management plan is essential for a successful trading.

Questions 16:In your experience, what is important to look for in a broker?

Vladimir Ribakov:Fair commissions,Transparency,Convenient withdrawal policies. Good support team. Reliable trading platform and trades execution. No “freezing” quotes or slippage. Good variety of trading instruments that you are looking to trade. I am currently working with M4Markets because they offer all of this and they are a very transparent broker.
(Special reminder: The opinions 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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