Interviews with Top of the Tournament Leaderboard
This mini-interview series is to showcase some of the prominent participants of the tournament leaderboard and what propels them to be able to trade well.
This post was originally posted here.
How many years have you been trading?
Landon: I’ve been investing/trading for 4 Years now.
What’s your profession?
Landon: I’m a Relationship Manager.
How did you start trading and what got you started?
Landon: I started investing/trading when I decided to grow my savings. However, I had no experience or knowledge, and I placed $10,000 on an illiquid penny stock for my first trade without understanding anything about the company or stock chart movement/signals. I managed to exit my position 2 months later with a paltry gain of $70 (0.7% Return).
Thankfully, that unwise trade did not turn sour for me as the share price has fallen 50% from the time I exited, and I would have undoubtably stopped believing in investing or learning about it.
Can you share more about your trading plan?
Landon: I am actually more of a fundamental investor by nature who also uses some technical analysis (TA) in his trades. For my own portfolio strategy, I shortlist the companies that I want to buy (using FA) and try to time the buys using TA to achieve better Risk/Return ratios.
However, for this tournament I’m purely using simple Technical Analysis, mainly Ichimoku Cloud/Moving Averages/Fibonacci Retracements/Trend Momentums/Breakout patterns/Support and Resistance levels/MACD Indicators/RSI.
How do you usually determine an entry for a particular trade?
Landon: A combination of the above methods that I’ve mentioned. However, buying on retracement support levels, breakout patterns, bullish Ichimoku Cloud signals, and oversold RSI have a greater emphasis.
How do you usually determine an exit for a particular trade?
Landon: Usually when the volume seems to be dying, along with clear ichimoku cloud/RSI/Fibonacci retracement and Death Cross signals.
What would you say to new traders who want to trade well?
Landon: Have a systematic trading plan and set your stop loss to a smaller % than your targeted gains. After that, it is just a numbers game, you just need to win more than you lose.
Also, Fibonacci Retracements. At the 61.8% levels. The longer the time frame, the better.
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