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The Growth of the Chief Analyst

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Guest profile

Calvin: The current chief analyst of TMGM Group, a former analyst of the foreign exchange department of Royal Bank of Scotland (RBS), a bachelor of applied finance from Macquarie University in Australia, a master of financial analysis from the University of New South Wales, a licensed expert of RG146 in Australia, the creator of "K line is the king" technical analysis method. He has led hundreds of offline lectures and traveled all over Oceania, Asia and Europe.

1.When did you first start trading? Was it self-taught or was there a guide?

Calvin: The first contact was that I was going to Australia to study. I needed to exchange RMB for some Australian dollars to pay my tuition fees. Then I kept eyes on the exchange rate of the Australian currency. Then I began to take some research. After my graduation from college, I participate a rading class. Under the guidance of the teacher, I gradually formed my own trading system and trading habits.

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

Calvin: I remember it quite clear at present. My initial capital is 5,000 Australian dollars, about 25,000 RMB. At this moment, there are about 100,000 Australian dollars (500,000 RMB) in my account. At the beginning, I take 200AUD profit from AUDUSD position. I remember that the subsequent loss was also the AUDUSD position . Fortunately, there is a stop loss at that time, which is very important.

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

Calvin:My biggest profit was 350,000 Australian dollars (1750,000 RMB ). I opened a big position to sell the US dollar index and then I bought an apartment in Sydney.
The biggest loss also impressed me deeply. I was selling euro at that time, but due to a speech make by Draghi, the euro rose by 500 pips overnight, so I lost about 30,000 Australian dollars (150,000 RMB).

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?

Calvin:I prefer technical analysis and EURUSD, GBPUSD, Gold and Silver are my priority to trade. At this moment, my trading strategy is to wait patiently for the opportunity to appear and place order to trade, and control the position , stop loss, because my personal understanding of the market is that a good trading opportunity will be in the right place for a period of time. Otherwise , wait patiently for the next opportunity. Just make trading that we can understand.

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?

Calvin: I think the key factors are risk management and mentality. Risk management is how to set stop loss and position management. In terms of mentality, treat the floating profit as a number , not really money, even if the profit goes down, we still make money.

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

Calvin: I highly recommend the book named Japanese Candlesticks Pattern. I have read it many times. Every time you read it, you will get a different reward.

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

Calvin: The most memorable thing is Brexit. Although polls at that time showed that the UK would remain in the European Union, from the pattern of GBPUSD there is a big drop, so I thought that there might be a black swan event in the British referendum. Then on the day of the referendum, due to the volatility of the market, my colleagues said that it’ s so silly not to have traded more gold. Such a hot scene!

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

Calvin: Personally, mentality is still very important, for example, at the time when I made 350000 Australian dollars profit. At the beginning, my first position is buying gold. At that time, through technical analysis, I thought that the gold began to rise, and the space was very large. When my profit reached 10,000 Australian dollars, my colleagues and friends told me that it was okay to close the position, but I didn't listen to them. Later, the market began to reverse, and my floating profits were also shrinking, but I didn't think of floating profits as money, but just some numbers. It turned out that I was right. Later, after a few days, my profits rose sharply.

9.As a trader's mentor, you have served more than 20,000 investors. In your opinion: a novice trader grows to gain stable profits in the market, what stages will their growth go through? What are the common difficulties encountered? How to overcome?

Calvin: I think the first step should be to have a small real account, because only if I invest my own money , I will care about it and be willing to study. Secondly, you need to develop a trading system that suited to yourself. The most important point is mentality. It also takes a long time to make progress.
In such a long process, the most common problem for newbee is risk management . We need to strictly control the profit and loss. A single loss cannot exceed 3% of the total fund.

10.How do you suggest to cope with it when there is a loss in the transaction? Do you usually set a stop loss for trading? What do you think about stop loss?

Calvin: Any trading position requires a stop loss, which is a trading discipline. Once a loss occurs, if there is no stop loss, we need to close it immediately. Stop loss is our umbrella and a necessary condition for us to go on.

11.In your mind, what qualities should a good trader have?

Calvin: The first is to enjoy loneliness. Trading can be successful only if you calm down and study well. The second is to understand that there are many trading opportunities in the market, once you missed it , you should be patient to find the next trading opportunity rather than to chase it. The third is that profits must be regarded as numbers so that we wouldn’ t be complacent about making money, but always respect the market.

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

Calvin: It isn’ t affecting mine at this moment because I'm a trend trader. I won't place any order until the trading opportunity I believe appears, and then I will hold it for a period. So it won't affect my family life.

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

Calvin: It depends on the individuals. At first you may need an experienced person as a guider, but later you must have your own trading habits and trading system. After all, everyone has different trading methods, and find the way that best suits you is very important. So my suggestion is that we can find a teacher at the beginning but we should have our own opinion on trading.

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

Calvin: I think under such a background, we can focus on precious metals. I have already placed gold and silver orders for a couple weeks, and I think the space for precious metals in later periods is still quite large. In addition, due to the impact of the epidemic, inflation expectations are getting higher and higher, we can pay attention to some commodity currencies.
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 traders must be cautious in the process of trading!


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Short Comments

  • 對交易心態的重要性深有感觸,同樣的一筆單子,有的人可以大賺,有的人小賺甚至虧損,與心理承受能力和持倉時間有很大關係。

  • 和别人学习确实能少走点弯路,但是一定要找对人才行。

  • To form your own trading system and trading habits, you really need to have a mentor to guide you, otherwise you will feel for a long time and lose a lot of money.

  • 成功的交易者經驗裏,交易心理、交易策略以及資金管理策略缺一不可。但我們往往只愛研究技術指標

  • 我非常贊同:必須把盈利當成數字,這樣才不會因為賺錢了而沾沾自喜,需要永遠敬畏市場。

  • Transactions need to have a mentality of walking on thin ice, and always remain in awe of the market

  • 一個月盈利35萬澳幣,悉尼一套房,太厲害。每個交易者的夢想的高光時刻。

  • 每个成功的交易者背后都有一部辛酸史,能持续这么多年坚持做一件看不到尽头在哪的人,本就不是池中之物。向他们看齐!

  • Which is more important, trading center or technology? I personally think that mentality accounts for 95% and technology only accounts for 5%.

  • 交易最核心的因素就是風控以及心態,我也這麼認為,好的交易心態是成功的保證,風控則是底線思維的體現。


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