There have been so many requests for a Forex trader, and this show finally brought on one!
Joel Kruger is a currency strategist in investment banking and has been involved with foreign exchange since the start of his career, after he realized he wasn’t any good in law school.
Currently, Joel is a self-funded Forex trader and created a great lifestyle for him and his family going through numerous failures.
Even though Joel dives into Forex, he offers many great psychology tips throughout this interview. If you submitted questions over Twitter, keep an ear out for Joel answering them.
To read the transcript of this interview, click here.
What’s Covered in This Interview:
- Joel’s experience becoming a self-funded full time trader after leaving a job in investment banking.
- Why traders need a good blend of commitment and passion, plus accepting that it takes time in order to make it. Just a note, traders tend to forget the instant gratification part of the business.
- Joel’s explanation of the forces and dynamics that separate Forex markets from others.
- Joel’s opinion on why new Forex traders have a huge problem with leverage and Joel’s tips on how traders can avoid overexposure.
- How Joel uses a blend of of fundamental and technical analysis for trade ideas as well as how market impacting news events helps him manage his traders.
- Why traders need to embrace failures in trading and the struggles before seeing success. Joel mentions in the early years it’s not about how much money you can make, but how much you can scale.
- Joel’s opinion on whether or not Forex should only be for professionals, even though most fortunes are made there, but mostly lost.
- Joel provides readers with many bite sized psychology tips when reflecting on his journey, and some wonderful advice on how traders can be more selective.
Links and Resources:
- jkonfx.com – Visit Joel’s website and read his blog.
- @JoelKruger – Follow Joel on Twitter
