Serge Berger started his journey as a trader back in the 90’s where he traded a small pool of money for his golf buddies. With early success, Serge was hooked and went on to work in financial institutions and launch The Steady Trader. Serge is now followed extensively on Stocktwits.com where others look to emulate his trading success.
In the show, Serge reveals the big secret behind his success – a key trait that enabled him to make the step change to bring consistency to his trading, and at the same time bring an element of peace to his life by reducing trading related stress. He also talks us through what candle sticks he looks for when picking entry points along with the timeframes he looks to capitalize within.
Finally, Serge reveals how he approaches trading on one of the biggest markets in the world, giving away valuable insights to pick the highest probability entry points.
The thing that most jumps out at me is the need for patience and to be realistic about the sort of returns that are achievable.
I guess that resonates with me and reinforces my reason for moving to automated trading with [link removed] since I just don’t have the patience and discipline to wait for the setups.
So it’s largely about the importance of the mindset, the psychology of trading as Serge points out.
Interestingly also is the difference in expected returns between equities and forex. Serge as a successful trader goes for 10 to 30% a year. Forex traders target 5% per month for their systems, equivalent to 100% per year when compounded.