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Chart Whisperer's Trading View

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Guest profile:

Anderw Mreana,11 years of experience in many retail and institutional foreign exchange brokerage companies in Europe, is an experienced business development manager, trader and sales training expert, called "The Chart Whisperer" . He is passionate about financial markets, technical analysis and training. He also leads the DOT financial news team, launching the video program InstructFX in 2020, which attracts a large number of traders fans.

1.Would you please share with us the origin of “The Chart Whisperer”?

Anderw:Sure. Since I consider myself to have a very good visual memory, when I was working on the sales floors I did a lot of technical analysis on the charts and I was always trying to understand the “secret” of reading the charts. My colleagues back then came up with a joke initially, and after repeating the same joke over and over …..I got stuck with this nickname. It is worth mentioning that I got it right a lot of times so the nickname is not purely a mock.

2.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?

Anderw:It depends on what your trading style is and what you wish to achieve, but usually technical and fundamental analysis complete one another. From my experience, fundamentals shake off the markets on the short run or give the markets a boost but the exit of the trade is often reminded by technical analysis. In terms of my trading strategy, it depends on what assets I am trading as not all of them react the same. I tend not to go very much into detail regarding my trading style as some people might copy it and I don’t want to be responsible for any potential losses that might occur as no one can tell anyone for sure what will happen. I hope you can understand.There is no perfect way of trading and what works for me might not work for you, so that’s why I prefer to keep quiet on this topic.

3.In the past 10 years, you have worked in many retail and institutional foreign exchange brokerage companies in Europe. What is the biggest gain for you from this experience?

Anderw:One of the biggest gains for me is understanding how the financial system works and how brokerages operate. Also, working for quite a few brokerages helped me discover different company cultures and ways of doing business. From marketing to sales, every company wants to be a market leader and uses different techniques and strategies that you don’t have access to, unless you work for that firm, so working with so many experienced people and learning from them is definitely the biggest gain for me.

4.You have achieved success in the financial industry. What do you think is the core factor for your success?

Anderw:Success is a big word. For some people success means making $10 million, for others success means not blowing up a $500 trading account.For me, success means truly understanding how financial markets work, understanding that financial markets are part of our lives like it or not, and if my trading activity does not impact my everyday life drastically, that’s success for me. If I have a bad trading day or trading week and it doesn’t distract me from my everyday life, allowing me to focus on other important things, then I could say I’m successful. During my career as an account manager, I saw fortunes being made or lost and I saw the impact that over trading can have on a person’s life and I must say…….it can get really messy and really fast, so I am tempted to say that understanding this is the core factor that led to what you call my success.

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

Anderw:When I first came into contact with trading, I had absolutely no idea how it works. It all started with me opening a small trading account and blowing it up in the same day.I knew how trading stocks works of course but leveraged instruments and CFDs were completely new things for me.After blowing up my first trading account in 1 day, I got so frustrated that I said to myself I have to learn about this! Then I started looking for employment opportunities in the industry and I was lucky enough to get a job as a trainee.So all my training was done internally by the firm that hired me at that stage and it continued with every new job that I got.There are many trading books out there and trading is really not that complicated if you know the basics, so I can’t really recommend a specific book.In my view, the book that will help everyone is called Syllabus or Regulation and this is the most important part. Knowing exactly what you are dealing with and knowing what brokerages are allowed to do or not is what will give investors peace of mind. If traders are looking to create an investment portfolio and trade in the medium to long term, the asset allocation is really important.

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

Anderw:Oh, yes. I just did a minute ago when I told you how my first day of trading went. There are many unforgettable moments like for example when Ben Bernanke was the FED chief. Back then on the NFP announcement we use to see great volatility and the USD was moving100–200 pips. It was a great time to scalp the markets back then.I have quite a few memorable moments…..like when I forgot to place a Stop Loss on my trades and the markets moved against me and I blew up a few trading accounts if that’s what you want to hear. Other time I tried to fight the market and I kept buying in a down trend……..you can imagine the outcome LOL.So yeah…I have many memorable moments but it’s all part of the learning curve and even if at that stage it hurt a bit, the lesson I’ve learned was more valuable.

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

Anderw:Oh, for sure.Times changed, the volatility changed but at its core it’s the same market. We just need to understand the new shape of the market and adapt to it. I want to mention something though……Since I decided to end my career on the sales floors and became an entrepreneur, I took a step back from trading. Of course I still trade time to time but now I am more focused on the 2 businesses that I am running and I do not touch the market for a few days or weeks. I purely don’t have the time for it. So now I am more focused on mid-term–long term investments.

8.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?

Anderw:Yes. At most times I do, but I allow the market to be a “breathing space”. I always expect to have some losses when trading, it’s absolutely normal. It all comes down to drawing a line at the end of the month or quarter and seeing where you stand. Like I was saying a few minutes ago….. If you understand that losses will occur and if those losses don’t impact your everyday life, it’s all good. It’s all part of a trader’ s life.

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

Anderw:That’s a very good question. First of all, good knowledge about the game. This is absolutely vital. You can’t make it in trading if you don’t master the basics. Another thing that is very important is financial flexibility. Like what I said, you will have losses and if you get scared and give up after one or two times, you’re done.The next thing in my view is discipline. If you see that it’s not a good day for trading, don’t force it. Sometimes less is more.

10.We have observed that your daily live Stream broadcast is very popular with traders. What was your original intention for creating the show?

Anderw:I wanted to bring traders and brokers to a place where they can speak freely. My intention was and still is to bring traders the correct information and I urged the project when I saw an avalanche of fraudulent firms targeting the average investors and I’m proud to say that we are growing more and more.There is a lot of misinformation out there about trading and a lot of so called “trading gurus” that have no real knowledge about the industry are promoting a luxurious lifestyle and they claim that can be achieved with little to no money and little to no knowledge about the markets. Unfortunately, many people fall victim to those “trading gurus” and the entire industry is affected, so I hope InstructFX will help to pass the message to the public.

11.You are often talked about in the show that brokers do not want ordinary traders to know. This information is undoubtedly the key to winning a transaction. How can ordinary traders break this information barrier and obtain more valuable trading information?

Anderw:The information I’m providing is not the key to winning a transaction. We don’t give investment advice or claim to teach people how to make a fortune from trading.What we do here, is teaching people what to stay away from, how to recognize a potential fraudulent company, what to really expect from the markets, risk vs reward, how to mitigate the risk, and so on. We want to help people get a fair chance and have realistic expectations from the markets and that’s why all our team members are people that worked in the industry for a number of years.

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  • The most important quality of a good trader is to persevere for a long time without giving up. This is the most fundamental.

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  • 真是為良心交易員啊,作為交易小白,我們需要有人教會我們在交易中要遠離什麼。

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  • Traders who have many years of experience in industry companies, who have seen numerous successes and failures, can find the essence of trading.

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  • Anderw Mreana, I often watch his video analysis and feel very valuable and awesome!

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  • So the success of trading is more about the success of ideas. Operation is secondary.

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  • Not the kui is a“The Chart Whisperer”.

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