Not too long into your trading career you start the hunt for the “Holy Grail”.
This is an important quest every trader goes through. Although, somewhat fruitless, it’s nevertheless important because it’s part of what I’ve come to call “The traders journey”.
Now, this interview with Darko Ali tipifies this journey. In fact, we get to step through Darko’s journey which is virtually complete.
Why is this such an important insight as a trader?
Well, it allows you to map where you are in your journey and gives you a gague on how far you have left to travel. Enjoy!
Podcast Interview
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Interview Links
Coaches Corner
Darko@ForexMentor.com
Twitter – @fxcoachscorner
Facebook – @fxcoachscorner
YouTube – Coach’s Corner
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Darko’s Strategy of the Week
Key Lessons
[10:07] I had a clear vision in my head, like I don’t want to work for someone else, I want to work for myself.
[10:29] If I’m just trading then I just need my laptop and I can do that anywhere in the world that I want to.
[14:39] If I can educate myself at least I can get my money back and then I wouldn’t touch this business.
[16:09] Literally a decade later, I got my first breakthrough where I start understanding the market structure like price action.
[16:34] I would say more than 80% of people that are pretending to be coaches or running a service, they don’t even trade a live account.
[18:35] I didn’t know that trading was 20% your system, 80% is your mindset.
[20:17] It’s not your trading system, it’s your mindset.
[21:13] Accept that trading is a probability game. You lose some, you win some.
[21:17] Just because you lose doesn’t mean you’re doing something wrong.
[24:03] I don’t want anything on your chart beside price.
[27:07] The most genius ideas in the world (trading and non-trading) are almost always the simplest thinking.
[31:27] 95% of every retail trader who gets into this business will never ever make it in the long run.
[37:41] If you’re clicking yourself in and out, it’s self-sabotaging your trade.
[37:50] The best trade I ever had was while sleeping.
[38:59] If you are looking for a Holy Grail, I will tell you this for free – Money Management is your key.
[45:28] My plan B is to follow plan A.
[48:33] A strategy needs to be at least 70% – 80% objective so you can go and back test it.
[53:29] There is no single trading book in the world that tells you anything that works in the real life.
[54:25] Start to master your mind before you master anything else in life.
[57:47] Don’t trade live money until you know what you are doing.
Darko’s Trading
- He’s been trading Forex since 2008
- He became a trading coach in November 2017
- He’s a lead coach in Coach’s Corner
- He’s a day trader
- He’s purely a price action trader
- He’s a support and resistance trader
- He trades patterns like Divergence, Head & Shoulder, ACAT (Advanced Candle Action Trading)
- He has 60% to 80% accuracy and winning percentage
- He uses the monthly, weekly, and daily timeframes when analyzing his trades
- He trades 28 to 30 currency pairs including Gold, Oil, and S&P
- He only trades pending orders
- He’s not trading Cryptocurrencies
