I released this episode 9 months ago as part of the 52 Traders podcast. It was the last show in that series and left everyone on a cliff hanger.
“What will happen next?!?” (Click here to see the update episode)
I interviewed Swedish trader Göran Carlfors. He’d been a long time listener of the show and finally discovered something that helped him overcome the mindset issues that held him back for years. It also freed up his time, meaning he could easily fit trading into his busy life.
The episode is locked behind the 52 Traders paywall, but today you get to hear it for free!
Why?
Well, I have him back on the show next week with Judy, the creator of the POGO system he’s been trading, to find out how he got on over the past 9 months.
Did it finally help him break the back of years of trading frustration?
We find out next week.
But for now… enjoy the final interview of the 52 Traders podcast…
Podcast Interview
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Recommended Books
Trading in the Zone by Mark Douglas
Naked Forex by Walter Peters
The Big Leap by Gay Hendricks
Broker and Platform
MetaTrader4
IC Markets
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Key Lessons
- There are many different strategies that are profitable, you only need to learn how to trade them the right way
- We all see charts differently, you have to find a way to be consistent
- Trading is all about psychology
- You need to be a better person in order to start becoming profitable in trading
- POGO is a semi-automated, trend-based trading strategy
- It’s difficult to sit in front of the computer all day especially if you have a full-time job
- There are 3 rules you need to follow in POGO strategy – 1. there should be 2 cycles, 2. the EMAs should be on the right order, and 3. you need to have a pullback to the 20 EMA
- POGO places 2 trades – 1:1 and 2:1 reward-to-risk ratio
- You need to be consistent in your trading
- You need to take care of your emotions in relation to money and trading
- You have to have a strategy that works with your lifestyle
- You can use Forex Factory to check for red alerts
Göran’s Trading
- Uses POGO as his trading strategy
- He has 1:1 and 2:1 Reward-to-Risk ratio
- He has 30 Pips stop loss
- His trades last for 15 minutes to a couple of days
- Has a 60% winning rate
- He trades more than 30 instruments in the Forex market
- He implements a 5% risk maximum at a certain time
- He has 3 trades running at the same time
- He analyses the market 2 hours before the London open and only takes 15 to 30 minutes
- He uses Forex Factory to check for red alerts
Göran’s Strategy of the Week
- He searches for pairs that meet the 3 rules in the 4H timeframe
- He goes down to the 30M timeframe and checks if the EMAs are in the right orders
- He waits for the price action to come back to the 20 EMA
- He takes the trade when the price action touches the 20 EMA
Chart 1
Chart 2
