My interview with Akil Stokes, alongside the video we shot afterwards is a masterclass in trading currencies. Put the two together, study them inside out and you probably don’t need much more.
Akil is an ex-Stock trader turned Forex trader, a key member of the Tier One Trading and host of The Trading Coach Podcast.
Check out Akil’s interview to hear his full back story, then watch the video to understand his trading strategy.
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Akil’s Trading Forex Strategy
[07:52] Forex was different. It’s faster, it’s more aggressive, it is a different personality.
[08:43] I failed a lot. I donated a lot money to the market. I donated towards future education.
[14:14] I found success when I stopped shooting myself in the foot.
[14:29] I do everything like most traders do: I blame the system, blame the broker, blame the markets, blame everyone else.
[17:14] You do things the right way, you’ll get the results that you want.
[19:28] Not every trade wins. It’s a game of probabilities and risk management.
[24:14] As I’ve gotten older in trading, I’ve got more aggressive and conservative at the same time.
[30:43] It’s important that you understand how to read the price chart.
[31:29] I always say that, when you write your trading plan out, when you write your rules, you should be able to give it to your grandmother who knows nothing about trading and she’ll be able to walk through it.
[32:04] Trading is a skill. Like any skill, the more you work on it, the better you’ll get.
[34:44] For me, everything in my trading is around structure.
[36:02] I don’t think you need to know all those candlestick patterns; I think you just need to know the story that the candlesticks tell you.
[37:36] You don’t focus on the results. Focus on doing things the right way.
[37:51] Good doesn’t mean winner or loser. Good means that you follow your rules regardless of the outcome.
[38:44] The market doesn’t do too many things different. It just does in slightly different ways.
[45:00] You need to approach trading with the right mindset.