Archive for the ‘Interview’ Category

Success doesn’t happen overnight. Or, does it?

Thursday, November 2nd, 2017

There is a strong opinion that Forex is nothing more than luck. However, the success stories of InstaForex clients prove it wrong. This time, our trader Czeslaw Subarowski, owner of account number 2774430 , will share with us how he managed to make over USD 25,000 out of the first deposit of USD 200 in just 2 weeks.

According to Czeslaw, he got interested in Forex in 2013 and has been trading from time to time since then. Before opening the fateful deal that brought him USD 25,000, Czeslaw had some trading experience. However, it turned out he did not employ any special tools. He fully relied on his technical knowledge with the help of support and resistance levels.

“I never use any indicators. They look cool but it’s simply history. The key is to learn how to read the chart. Also, don’t “fight” the market, just follow it,” Czeslaw says.
Commenting on his success, he advised beginners not to be afraid and try their hand at trading on Forex. Czeslaw is sure that Forex is not a game, it’s an investment. He is sure that one has to be prudent and be able to respond to new events quickly.

“Do not worry about losses, it’s an element of this market,” he recommends.
As you see, a trader doesn’t have to be a scientist or a Harvard graduate to strike it rich on Forex. To make a fortune, you need discipline, persistence, and desire to learn more about this market and its principles. If you ever hesitated, now it is the time to take the first step.

Million over night before Brexit

Friday, August 12th, 2016

Most stories of making a killing in the currency market are about the same old stuff: hard work, attention, analysis, calculations, and above all, time. But there is an exception to every rule. This time, we will tell you a story of striking gold that actually is not that unique. Many traders around the globe managed to rake it in on the outcome of Britain’s referendum on the country’s membership in the European Union. Our protagonist, Aleksandr, is a holder of InstaForex account No 2204114 who earned one million rubles in a single night. Such a success was linked neither to long waiting nor to detailed analysis of a forex guru. It was about trading the right pair at the right time. Aleksandr is not a professional financier or analyst. “I am neither a professional trader nor financial analyst. I started trading on Forex in 2012. I studied mainly by myself: read a lot of materials, explored the market. I trade only EUR/USD and GBP/USD. I have not succeeded much, but gained something that is more valuable than money – experience. The point of my activity in this sphere is the result, not money,” our humble hero tells us.

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He is not the first InstaForex client to strike it rich during Britain’s referendum. However, it is difficult to ignore the story of gaining a million overnight. “I won’t hide how happy I was about my trading results for June 24, 2016. On the back of Brexit, I managed to increase my funds by million rubles overnight. It’s a great feeling to wake up and find out you’re a millionaire. I wish everyone to reach such a goal at least,” Aleksandr shared his impressions about his success.

To enjoy such a success, some trading experience and basic knowledge are required. Aleksandr advises beginners not to be lazy and study the market in detail instead, taking technical and fundamental analyses into account. He also recommends developing and testing own strategies and learning how to both enlarge and keep capital.

Forex news with Oleg Taktarov

Monday, November 11th, 2013

Kate: Hello, dear traders. You are watching InstaForex TV. I am Ekaterina Nedachina. Today it’s a special news release, so please welcome our invited expert – Oleg Taktarov. Good afternoon, Oleg.
Oleg: Good afternoon, Ekaterina.
Kate:
Today Oleg is here with us to discuss the major financial events of 2012 and 2013 and analyze the financial market moves. Oleg, were there any ground-breaking events for this period?
Oleg: Well, it is a tricky question. The Scream, I suppose.
Kate: The Scream? Do you mean the movie Scream? I have not seen the last series yet. What is so special about it?
Oleg: No, Ekaterina. I mean The Scream by Edvard Much.
Kate: Oh, this Scream. I am afraid you are wrong. The painting was done earlier than the movie X-files was shot. If I am not mistaken, it was painted about 100 years ago.
Oleg: Yes, Ekaterina, you are right. The painting was sold for whooping $120 billion during the auction in New York.
Kate: Very symbolic, indeed. But why is it a financial event of the year?
Oleg: First of all, the selling of this painting reflects the global economic situation. Secondly, it was purchased by the Wall Street financier, which means the money is still there.
Kate:
Oleg lives mostly in the USA that is why he keeps a close eye on the U.S. market. Well, let’s go on. What do you think about the Facebook’s IPO?
Oleg: That was a really great event. It should be placed under the Epic fail section of economic encyclopedias.
Kate: Well, there are piles of other candidates to top the list. But why is Facebook?
Oleg: I am of like mind, but Facebook is a milestone event. I will explain, why. Let me put it simple. What do you need to go public? First of all, you employ an auditor certified by the stock exchange. The auditor estimates the company’s capitalization – the number of shares multiplied by their value should be equal to company’s capitalization. And the famous Morgan Stanley valued the capitalization so as if it happens in African countries. As the result, according to the bank’s estimates, the Facebook’s capitalization totaled $90 billion, whereas the share’s price was $38. In less than 10 days from entering the stock market, the share’s price slumped to $28, whereas capitalization fell by $20 billion to $70 billion. It was well done! And you know what? In fact, it seems that the Facebook’s real capitalization at that moment was more than $70 billion. As they sow, so let them reap.
Kate: Oleg, I see you are an expert in the U.S. economy. But, unfortunately, we do not have much time and we have another important topic to cast light on– the Cyprus crisis. Should we really blame all the troubles on the loan that Cyprus has given to Greece?
Oleg: The Greek economy? Something I have not heard about!
Kate: How is that? My parents have spent their last vacation on Crete and I can say that tourism prospers there.
Oleg: Oh, I got it. Imagine that your parents spent all their money on holidays, who they will ask for help?
Kate: I guess, me.
Oleg: That is what Greece did. In other words, you put the money into the bank that you know will collapse soon. But you still make a deposit because you know the owner of the bank well. So is to say, by friendship.
Kate: Right, this is not wise. And what will happen to Cyprus?
Oleg: What will you do if you lose all your savings and job?
Kate: I do not know, probably I will go to the country to grow vegetables.
Oleg: I guess Cyprus will do the same thing. Once the financial center ceased to exist, hurray for Mediterranean fruit and vegetable, which is, to my mind, much better.
Kate: Hurrah! It was our expert Oleg Taktarov. Oleg, thank you for sharing your point of view with us.
Oleg: Thank you.

Dmitri Gurkin – successful PAMM trader

Monday, October 7th, 2013

gurkin_dIFX: Hello, Dmitri. How did you start up your trading career? What difficulties did you have to face at the beginning?
DG:
Hello. My first trading experience dates back to 2005. I guess, like many other traders, I learnt about Forex via advertising. I was allured by the fact that Forex allows running into money without effort from home, according to the advertisement. So I began studies on my own. Luckily by that time a great amount of economic literature was available. As for the challenges at the very beginning, I can barely recall them. There were only some kinds of technical troubles as post-Soviet dealing centers just entered the market those days and were using scam methods. Over the years I blacklisted some of them, but other proved to be good to work with even now. The majority of the dishonest brokers ceased to exist due to their dishonest policy.

IFX: How much time did it take you to develop your personal trading system? Could you specify the major steps for creation of stable approach to trading?
DG:
The basic principles emerged in 2007. However, I improve my trading system every year to adjust it to the Forex market changes. I would not go into particulars as it will take a lot of time. Moreover, successful traders with wide experience know about these nuances. And newbies should interact more with the professionals to gain experience and knowledge.
As for the major steps I had to go through during the development of a stable trading system, I can figure out the following:
1. Fundamental and technical analysis study.
2. Development of market forecasting methods which are the basis of a trading system.
3. Development and testing of an individual trading system on demo account for a year.
4. Trading on live account, system’s correction according to the activity on a real account.
I repeat that the system changes in real time. Hence, the basis is permanent. However, risk management strategy is to be revised annually. In any case, all the adjustments and corrections are a good practice as they help me to be among top traders for 6 years already.

IFX: What kind of financial analysis do you stick to: technical or fundamental? What is your primary target as a trader, what is important for financial asset analysis and what is not?
DG:
I work with fundamental analysis solely. The medium-terms projections are all based on it. Only correct fundamental analysis can determine the future trend of a currency instrument. For the 6 years of my trading experience I was 100% accurate in my projections for the majors.

Taking my experience into account, I can say that technical analysis works for 50% of the cases. The market changes every year and yesterday’s patterns cannot give you the desired accuracy. The charts of the currency pair’s movements sometimes go regardless of any analysis. As the result, trading turns to a game, but not work.  Money is not a toy though, which is why books on technical analysis are dusting on the bookshelves. However, even bad experience is vital, so I do not regret having it.

IFX: Dmitri, you are managing an international investment project. What is investment for you and how serious a trader should be to become a successful managing trader?
DG:
I manage a rewarding D-Profit international investment project, the success of which reflects the level of responsibility and gravity of my approach to the investors. In this connection investment represents financial opportunities for me as for an investor. Six years is a long period for Forex market provided that every new trading day and closed deal is a test for reliability of responsibilities in front of our investors.

IFX: Dmitri, you are a partner with InstaForex. What are the principle factors in cooperation with this company from the point of successful partnership?
DG:
I knew about InstaForex since the moment the company was founded. First of all, it was actively developing meeting the needs of its customers. I also liked the wide selection of trading instruments. Well, nothing was perfect at the beginning from the technical perspective, but as a result of great Customer Support Service work, all the problems were tackled easily. Eventually, everything was fixed and now InstaForex is the most powerful and effective trading platform on the Forex market. I would like to thank Partner Department in particular. The specialists demonstrate professional approach and try to solve all the problems in no time.

IFX: You did a go at the PAMM system by InstaForex. Why did you choose it? What are the advantages of the PAMM system in contrast to the trust management?
DG:
The PAMM system by InstaForex is an automated modern tool of financial assets management which helps to derive maximum comfort from cooperation in the trader-broker-investor chain. The investments are accepted and returned automatically, so is the profit. In trust management a trader works with tens of trading accounts, whereas the PAMM system implies accumulation of all the investments on one account. The PAMM investment is beneficial for investors as well. They still control their assets having an opportunity to cancel their investment without a trader’s approval. All these features together with perfectly adjusted technical opportunities make the PAMM system so attractive. Thus, I have decided to open the PAMM account #1 in the D-profit project. As of today, more than 500 investors are in this project, the total amount of investments exceeds $400,000. The project exists for 2 years already. Great opportunities provided by the PAMM system are due in no small part to the project success.

IFX: Dmitri, some traders believe that it is better to trade your own funds without attracting investments. What do you think about it?
DG:
Investments attraction is an international practice. The funds are flooded into construction, explorations, and management with the purpose to derive profit. Of course, it is better to earn $100,000 in a half of a year managing $1 million rather than possessing just $1,000. I started up with small capital of some hundreds, but now I operate big sums of money. However, trading somebody else’s money is a great responsibility. Hardly every trader can take it. Sometimes it is easier and more comfortable to trade your own money.

IFX: What is necessary to make an investment project successful? What traits of a managing trader are most important? What do you value in investors?
DG:
I think stability is the main factor for any profitable investment project. And by this I mean both trading risks and stable profits. Talking about the main traits of a managing trader, I can define two directions. The first one is determined by the level of professional competence: knowledge of a trading platform, risk management, accurate analysis, etc. The second one focuses on personal qualities. No doubt, responsibility is the major characteristic of a managing trader, then comes self-possession, ability to control your emotions and view the situation objectively. As for investors, first of all I value their loyalty and patience as Forex carries high risks for profit-making. It often happens that opened deals are not profitable from the beginning. Sometimes a trader has floating expenses for months until the trades meet the targets and can be closed in the black.

IFX: What are the prospects of joining your PAMM system project? On what does the potential profitability of client’s investments depend?
DG:
Investing funds into our D-profit project, an investor can get the following:
1. Stable profit exceeding the interest on bank deposits in case of long-term investment.
2. Low investment risks (not more than 30%) to which we are stick to for a couple of years.
3. Possibility of personal contact with the manager, consultations on investments.
4. The funds are transferred to the accounts of the largest and most reliable broker, we also use segregated accounts.
The investor’s profit depends directly on our trading performance. It should be noted that InstaForex contributes to investor’s earnings ensuring 6% of annual interest on invested funds. The rest of the profit is generated by the D-profit project. On average, an investor can get more than 20% of a profit. However, this statement is true for long-term investments as Forex is not stable and can be affected by economic crises and other events. That is why the profit is floating. For example, an investor’s profit totaled 25% for the first year, but dropped to 15% for the second. As the result, the income soared to 40% in two years. Once again, we base on the long-term investments which guarantee, above all, stable profit of our project in the future.

IFX: Can you say that when a trader switches from trading his own funds to investments, he professionally evolves? Or maybe it is just another way of trading when money is a trading instrument?
DG:
Well it is not a professional evolution but rather a trader’s personal revolution. As I said earlier, investment management is a great responsibility to other people. A trader can work for more than a year but cannot decide on managing other traders’ funds. Indeed, losing your own money cannot be compared to the responsibility taken for the hundreds of traders. On the whole, investments attraction is a wonderful trading option which can bring good money.

IFX: Do you believe that it is possible to get stable long-term profit on the market? Does trading worth diving into it?
DG:
As for me, trading is an inevitable part of my life. Thanks to my success, I have achieved a lot of targets. Is it worth trading? Of course yes!
Trading feeds my family and me. But I always try to find spare time for my relatives and friends and some time for rest. If a trader has tested a profitable system with low risks on practice, he can be successful in the long term. Meanwhile, in this case he does not need to spend 24 hours in front of the computer. On the top of that, automating the process of trading, you can devote several hours a day it. Now there are loads of technical opportunities to make it real.

IFX: Can you describe a successful trader?
DG:
Well, success is a relative notion in trading. For someone hitting a $1,000 jackpot in one deal is the success, while others prefer popularity in professional community to anything else. The thirds value years of working. Undoubtedly, all these are the component for success. For me personally, a successful trader is a professional who regards trading as serious and responsible work with sufficient for him trading result. It is a person who respects himself and others, who can analyze his faults, and develop his trading system.

IFX: Will you continue partnering InstaForex? What benefits do you see in cooperation with InstaForex from the trader’s and investor’s points of view?
DG:
I think that we will work close together with InstaForex for a long time. If everything is perfect, why to change it? Besides, we plan to improve our collaboration in future.
Reliability and confidence are the benefits of working with InstaForex. By this I mean reliability in trading platforms, safety of funds on the company’s accounts, confidence in company’s employees. With such an effective company I am sure about my funds and funds of my investors. The money will not just vanish, the earned profit will always be eliminated. For the large investors the safety of funds is one of the most important conditions to invest money. As far as I am concerned, InstaForex was the first to introduce segregated account service which was a helping hand for the investors with the deposits above $100,000. To my mind, there is no better guarantee for the funds’ safety. If an investor does not want to trade by himself, he can invest his assets to the PAMM account of the D-project or the accounts of other managing traders, partners of InstaForex.
In conclusion, I would like to wish InstaForex to be successful and prosperous.

Yuriy Zaycev is the Analyst of the Year 2012

Monday, September 30th, 2013

zaycevIFX: Hello, Yuriy. Congratulations on your victory in the Analyst of the Year contest held by InstaForex together with MT5.com international portal for traders. How do you feel about your victory?
YZ:
Thanks a lot for the congratulations. Indeed, the contest is large-scale and captivating for everyone, I mean, for participants, traders, and onlookers. Firstly, the contest allures by its originality: for the time being of the market development I cannot recall an annual contest for the analysts. And I am very happy to be the winner.

IFX: Was it your primary target to win? Or was the participation itself more important for you?
YZ:
Initially, I planned to enter the top three of the analysts. When I reached my goal, I analyzed my work more thoroughly and discovered the points to improve. I promoted my blog enriching it with analytical materials and soon it earned great popularity. Then I set another aim – to gain the first position.

IFX: What do you think, how do your analytical reviews differ from the others? Why do you think you manage to be the first?
YZ:
Before being an analyst, I have spent years on trading: managed accounts of various individuals and legal entities via Russian and foreign brokers. Now I know pretty well what a trader needs. Above all, a trader requires fresh analytics which is published on time. In case of any delays, a trader gets nervous, refers to another expert which troubles convenient work with the materials of the well-known author. If the delays happen too often, a trader opts for another analyst.
I have ab ovo decided to publish the materials ahead of the others. After a week or two my strategy proved to be successful: the traffic of my web page profile and blog was the highest.
Well, of course some kind of simplicity and cogency of the materials presentation is important. When it was possible, I tried to give simple recommendations, to wit, today the market is going up… And quite often I was right. One of the traders figured out that I had 75% of correct predictions for the entire contest. If I, as the majority of the analysts, gave ambiguous explanations, I would have nothing to stand out.
Moreover, I was consulting traders by Skype and ICQ.

IFX: Yuriy, do you think that the functions of a trader and an analyst are the same? How could you describe a successful trader? What about a successful analyst?
YZ:
I believe these are two entirely different notions. To make a prognosis, an analyst spends several hours. Finally, he presents a material that eases a trader’s work even if he can plan his working day by himself. A professional trader can just cast a glance at the forecast to estimate its value. So, is there a need to analyze a market individually if you always have information at hand? A trader just has to wait for the moment to enter the market or stay on hold.
Now let’s imagine the work of traders in investment companies or banks. A trader cannot open a position at his discretion; he sticks with the trading plan of a group of analysts. But a trader must close the position in case the situation changes dramatically. It is not about who is more intelligent, but rather about the sharing of responsibilities.
Based upon my experience, I think that the criteria for being a successful trader or an analyst are different (by the way, I really like this question). A prosperous trader is a bundle of nerves. He must wait for the right open signal to be formed, enter a deal, and then close it. It seems to be so easy, isn’t it? But if a trader has three successive losing trades and he is not affected by them, does not strive to play everything back, then he is a valuable person for an investment company. On the whole, I would define a successful trader by a stable monthly revenue. If the profit is not big, a trader does not risk, but implements the risk management strategy, which proves that he is self-possessed.
The success of an analyst can be defined by the accuracy of his forecasts. Many analysts became famous for their predictions of a crisis end or beginning. Well, it is not success in broad terms, but still popularity. In this case, the success is in stability as well.

IFX: What is the major type of analysis for you and which one is the minor?
YZ:
I started out as a technical analyst, later I studied fundamental analysis which increased the accuracy of my analyses in defining the market trends and reversals. Now I prefer complex analysis.

IFX: In your analysis published on InstaForex website you employ your own methods of technical analysis. Do you think the creation of your own indicators and methods of analysis is obligatory? Or maybe it is enough to handle common norms and principles of analysis to trade successfully?
YZ:
Yes, it is enough to operate backtested methods of analysis. However, an analyst is creative by his nature. There comes the time when he gets a craving to broaden the horizons and advance his basic system.

IFX: Yuriy, do you think that a trader should have a trading system? Is it useful for decision making or does trading on modern financial markets resemble a random walk? And as for the results, can the success be achieved but with no stable profit?
YZ:
A trader must have a trading system. Moreover, until he finds one that suits his psychology and spirit, he is a would-be trader.
My system was developed out of random walk hypothesis. Plot a chart on a piece of paper, and I will show that even a random chart can be described by traditional instruments of technical analysis. The result is fitting: if the trader is not in a hurry, he waits for the moment, then he will earn a stable income.

IFX: How do you imagine your future as a financial analyst? Do you want to learn markets you are not working with now?
YZ:
Getting in touch with futures and options markets, I saw how the authors of the books described the instruments that rule the markets, that are groundbreaking. They did not stint on the buzzwords. However, I still stick to the opinion that the currency market is self-sufficient, it is growing in volumes from year to year and it barely changes. I feel comfortable, and now I do not want to try another market.

IFX: Yuriy, could you please tell, an analyst, either technical or fundamental, should trade markets according to his own forecasts? Or maybe the main goal is to provide up-to-date information about further price movements for traders who could make their own decision basing on this information?
YZ:
Not obligatory, but a good thing to do. Trading himself, an analyst is more vulnerable to his projections and does not go soft.

IFX: Are you planning to partake in the Analyst of the Year contest once again?
YZ:
Not this year again, I guess. Unending consultations during the contest without rest and weekends used me all up. But next year, I will probably struggle again.

IFX: What could you wish to those who have just started trading financial markets?What is the best way to start studying methods of financial analysis, to your mind?
YZ:
The only thing I can wish is patience. The path of financial trading is rough and long. And it is better to start it in the classy way. All computer indicators, graphics, and trading methods are based on the principles described in classic books. Having understood them, a trader can master the novelties easier.

IFX: What is your projection for the currency market, say, in the nearest couple of years?
YZ:
In the course of a couple of years, I think, nothing will change globally. However, the world is inevitably getting globalized. New supranational currencies will appear and they can greatly affect the market. As a result, new mechanisms of the market regulation can emerge.