Interview with Rally Trade winner: “Before you start trading, learn to control your emotions”

We love talking to our contest winners, most of them are very interesting people with unique approaches to not only trading, but to life in general. However, it’s especially pleasing to receive your feedback which shows that you also enjoy working with us! One of such pieces of feedback is the interview with Patricio Diaz from Brazil. He won the 233rd round of Rally Trade and received a $500 no-deposit bonus. Patricio told us about how he had to change his life because of trading. We enjoyed his story a lot and now share it with you.

Tell us about yourself, how old are you, what do you do and what are your hobbies?

My name is Patricio Diaz, I’m 23. I first got acquainted with Forex when I was graduating from college. I became so interested in this field so I left college and dedicated all my time to financial markets trading. My goal is to achieve financial independence with trading. My most successful trade involved buying stocks of five various companies whose charts I’d been analyzing for three months. I closed my least successful trade when I sold them too early.

How do you control your emotions while trading? What helps you control them?

I think euphoria makes you lose focus on the trade. Before you start trading, make sure you can control your emotions. As for me personally, it’s music, especially electronic music, that helps a lot.

What do you pay attention to when choosing a broker? Why Grand Capital?

Before I never noticed whether a broker provided a risk disclosure statement. Now I think it’s important. Brokerage companies should inform their clients that trading is not a game and your funds may be lost. When I choose a broker, I take into account their commission, spreads, prices in comparison to competitors and fair contests to test your strategies.

Tell us about the contest: how did the round go, how did you win?

I participated in three different contests and saw how my opponents were behaving. So, based on this, I developed my own high-yield strategies for each contest, since they deffer in length.

In the beginning I lost 4 thousand dollars, and I had to catch up. I revised my strategy by looking at how the leaders were trading and started trading three currency pairs at once: EUR/USD, NZD/USD, GBP/CAD. I used pin bars and pivot points and it helped a lot, though I tweaked them a little to gain more profit.

What’s your advice to beginners?

My recommendation is to search for good trading strategies that have already been tested by someone and show good performance, don’t use high leverage, as it may wipe out your whole capital, always be focused when trading and, ultimately, understand the market’s psychology, know how it works to act confidently when opening and closing positions.

Sign-up for the next round of a trading contest right now.