“You cannot control the market” @pmat73

In Members in Profile, we interview stand-out members that show strong aptitude and work ethic. Our goal is to highlight different folks so that you can see the effort that our members are putting into their trading and hopefully learn from their experiences of the Convergent Trading Community.

We hope you enjoy hearing what @pmat73 has to say!

What brought you into trading?

I graduated from a business school with a specialization in Market Finance. So, I’ve always been interested in markets. When the Great Financial Crisis in 2008 took place, I started using CFDs to speculate intraday. Then I took several education courses, from programming automatic strategies to candlestick patterns, market profiling, order flow, etc. I had to quit in 2013 due to lack of results. In January 2020, 

I found myself in a position where I had some free time every day, I immediately thought of giving it another try. I received more education in footprint, order flow, risk management and joined a newly formed group of traders. Later I bumped into FT’s Trader Bite I used to watch back in 2013. Finally, I left that group to join Convergent, which I should have done many months ago!

What do you like most about Convergent?

It is difficult to pick only one thing. First, there is the quality and the scope of the educational material. Whatever the topic you want to explore further (risk management, psychology, market auction theory…), you will find high quality webinars. If your topic is not covered there, you can ask the community, which is the second biggest asset of Convergent. You also have a high-quality news feed, online trading journal, and market statistics (that would be very difficult or time consuming to create on your own). In the end, what I like is that I’ve got everything I need to grow as a trader at the same place, with both fellow traders that are struggling (or not!) like me on certain issues, and experienced professional traders to help along and share their experience and wisdom.

How have these aspects helped you grow as a trader?

First by having all these high-quality resources in one community, I no longer waste time looking around for some of the resources. Second, I know with certainty that one can be successful as a trader, but the road is full of pitfalls and that I’m not alone in struggling. Additionally, I’ve got all the education and support needed to overcome my issues. It all depends on me: hard work, discipline, and process. This is the third and maybe the most important aspect: having a process orientated approach for everything that includes the whole day schedule, the pre-market preparation, the execution, the post-mortem, the weekly review, the weekly preparation, etc. If you have built solid and constant process, it will be much easier to troubleshoot issues one after the other. Noting that you cannot control the market, you must make sure to control everything else you’ve got a grip on, which means formalizing, scoring, monitoring, and adjusting, the continuous improvement loop. This takes time, dedication, and perseverance.

Do you have a favorite community quote or webinar?

“Trading is simple, but difficult.” Really it is!

Do you have any advice for new members?

Do not lose any more time and jump right into the Trade Right Program (“TRP”). Do it once, practice Sim for one month, and start building out your process. Assess. Adjust. Retake the Trade Right Program a second time. Rinse and repeat. Be gentle with yourself. This is a very demanding and competitive profession.

If you have the opportunity, I advise taking the Accelerator Program. Ideally after taking the TRP a few times and having practiced the markets for some months. It would be very valuable to bring all the pieces together.

What is your favorite non-trading activity/hobby?

I love hunting! Ducks, pheasants, woodcock, wild boar, deer… This is always a great time. I like to spend time outdoors, with my dog and my friends. It is very complementary to trading (good physical exercise) and very similar in certain aspects like having no control of the outcome, needing to be patient, and knowing security always comes first.

Have you participated in the #TradeRight program/challenges? What discoveries have you made?

Yes, I took the course only once so far (I intended to go through it again when the Accelerator Program in February was made available again) but I completed the challenge 3 or 4 times and still participate in it every month. Regarding the program, the most valuable impact is the progression and organization of the education. Learning things in the right order is much more efficient and meaningful! Regarding the challenges, the first takeaway is to gauge how really committed you are to your goal and process. The second takeaway is accountability: knowing that some other members will look at your journal puts pressure on you to publish and publish the best results you could get. As a bonus you will get some feedback from other members, thus feeding the continuous improvement loop!

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