Richard H. aka 'uksnowman' wins Darwinia funding for 3 months running, totalling €90,000
Good traders are like top pro athletes - a very rare species. But every so often a talented, resilient individual comes along, who refuses to give up, keeps getting better and then goes on to achieve what seems impossible for most.
Today I would like to shine a light on Richard H. better known by his trading moniker 'uksnowman' who has done so well in the last 6 months. All last year, Richard spent time honing and tweaking his live trading skills. This resulted in his Darwinex fund 'SDP' being funded with 90,000 euros of Darwinia money. Richard trades the MS method.
It's so nice when my traders reach milestones like these. Having a trading record such as a 'darwin' shows the evolution of a trader's skill. Even though the first year didn't go that well, Richard kept tweaking and improving, until the results started to come. As a part of the process, we reviewed his previous live trades to see where the weaknesses were and how to minimise them. Uncomfortable process but highly necessary for anyone looking to become a consistently profitable trader.
One thing Richard changed in his trading since October last year is to wait for Q Points on the Daily chart before looking for lower timeframe price action signals to go in. He is mainly a swing trader, however he uses a mix of swing and intraday trading. If going into an intraday position, he trades a smaller size. He has a high risk/reward expectation on his swing trades, going up to 9x r/r ratio, although he will book profits at 4x.
ESMA is rolling out a new set of regulations that will cut the leverage when trading financial products for the retail traders.
Up until very recently retail brokers were offering ridiculously large margins to trade highly desirable products such as forex and CFDs. We're talking 500:1 leverage and the sorts. Additionally, people were also roped into trading "binary options" which inherently have a negative risk/reward. Statistically this makes it impossible to be profitable without a 90% winning average. Yes, average. Luckily for everyone involved, ESMA is rightfully scrapping binary options altogether.
Impact on Market Stalkers courses: none!
Our courses advocate a use of very strict risk percentage per trade in relation to the trading capital available. We also advocate to only have maximum two open active positions at any time. This means that even when high leverage was an option, your "margin requirements" would never even come close to busting the margin due to high percentage per trade in relation to available trading capital. This means that although the available margin with the new rules will be a lot less, you need not worry about the method or our strategies. In fact, Dodd Frank regulation in the US did something similar years ago - they slashed the retail fx trading margins to 50:1.
ESMA goes a step further, placing the margins for major fx pairs at 30:1, CFDs at 20:1 and cryptos at 2:1.
When it comes to cryptocurrencies, we advise only long term strategies and only buying them for a buy-and-hold long term gain. Therefore using a speadbetting broker platform doesn't even come into that. You must have enough underlying capital to even get involved in cryptos.
We whole-heartedly support this retail regulatory move and are pleased to inform our students that we can keep trading just as we've traded the last 8 years.