A Real Forex Journey: Recent Episodes
Lach Velikov
Showing the reality of becoming a consistantly profitable trader, Lach Velikov shares with you every exeprience and knowledge attained during his journey as it actually happens. The good and the bad alongside numerous tips on trading approach and psychology to help you speed up up your progress as a forex trader and to realise you are not the only one.
This episode I discuss why I personally prefer to have a large multiplier on the timeframes I use and how that may actually lead on to more aggression working backwards
This episode I discuss something I cam across on social media in terms of whether traders should be predicting the markets and also my possible return to instagram and what type of content it would be compared to before
This episode I discuss in my opinion what you should really be focusing on when doing your reviews to keep you learning and improving no matter what stage you are at.
Small update on what I am doing but more so focused on how I am looking to enhance my knowledge of wyckoff and some of the anticipated struggles that will come with it but still excited to learn more and more in depth on it.
This episode I give you my thoughts if you need to have an understanding of why moves happen and if it helps your psychology when taking trades.
This episode I go into how I have come about a stronger return to the belief action results cycle and how I think it affects me.
This episode I go over how I have adapted my learning and what has changed over my journey and why.
This episode I go over a misconception I believe exist out there with traders feeling the need to catch the tops and bottoms of the biggest moves and not realising there is still profits that could have been made if that doesn't happen.
This episode I discuss where I think the majority of these concepts originate from and how it can impact you on your journey.
This episode I go over what I feel the difference is in your journey when having an income and when not and also share with you how I have made myself and extra few hundred to cover my expenses from home, no skill or much time needed. Enjoy.
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This episode I go over a conversation I had with my mum about my trading and the difference in mindset amongst other things.
This episode I discuss the final decision I made and how it varies slightly from what I used to do before while keeping the fundementals and foundation of it the same.
This episode I discuss a definitive decision that I am forcing myself to make in order to gain back my consistency and have a clearer direction going forward.
This episode I go over what kept me going over lockdown and how important it was for me personally and for my trading.
This episode I go over what I am currently doing and why I have stopped doing youtube for almost half a year now.
A while since my last actual recording I provide you with an update on my situation and why it took me so long to record a new episode for my podcast.
This episode I go over something that has affected the way I think about the trading and it makes it dangerous due to my change of attitude towards it.
This episode I discuss how the last few weeks have been for my trading as it has really gone quiet for whatever the reason might be.
This episode I go over how I am planning to cut down on my aggression due to recent trades taken mainly with the new entries which have made it a bit more discomfortable.
This episode I discuss what I believe to be the best filter by far out there. Good thing is it is available to every single trader out there and it will do wonders if you know how to use it and have confidence in it.
... #4 Follow the rules without question, #5 Know when to break the rules.
Probably one of my most controversial episodes to date but here it is. I purposely broke my rules because it was the right time to do so. Do I regeret it? No way but hear me out and my reasoning in this episode and let me know what you think. It could be one of the turning points in my trading in the long run too.
This episode I go over a huge battle I was facing in early 2020 where I had to stick to the rules and take certain setups which my intuition was screaming at me not to take but I was disciplined enough to still take them. Find out how that effected me especially after the outcomes of these setups.
This episode I go over the pros and cons of each trading style in relation to profits, ability of the traders and how much time they actually take to execute. Main purpose is to get you questioning what you're currently doing even though there is no right or wrong but you may find you are better suited schedule and personality wise to one over the other.
Loads of people in general love the Christmas period as they get to spend time with their family and a break from their jobs and what not. Same goes for traders right? Not so much for me though and its even worse this year due to my beliefs of how to trade and what works.
Something I heard Akil Stokes mention a long long time ago has always stuck with me and I feel that little nugget of knowlegdge was ridicilously overlooked in terms of value and how it can actually imrpove your confidence in your trading and analysis.
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We all know our Risk Reward Ratio is an important aspect in our trading alongside our win %. However having large RR does come with its consequences so this episode I share with you some of my recent experiences with massive RR situations and how you can go about solving any problems that you are facing with them.
From my day trading I have begun to realise this more and more and it has really given me a different perspective of certain hings for the future and how I want to approach my trading and what I value. I think a lot of consistently profitable traders have experienced that certain shift and it has enabled them to be where they are now.
This episode I go over some tips to reduce stress in your trading through either external activities or small changes in your trading or approach as we all know trading is very much a mental game and we need to be at our best.
A while back I mentioned the benefits of youtube for confidence and many more things that come with it. Well a few months later I am going back through all my reviews which is more reliable to me than backtesting and using them to actually increase my aggression within my trading.
A follow up type from why you should grade your trades. There is always a contrast in quality and how it works. Includes my best analogy ever and as always a nice little lesson on psychology and approach.
A very passionate episode today and it is something I keep telling people early on in their journey, whether they choose to listen it is up to them but I feel like they are really missing the bigger picture. A really detailed look into YOUR personal psychology to genuinly help your trading.
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Ouuu Shinnyyyy. We all have some shiny object within us but this episode I go over how I manage mine to either avoid going down the route or do just enough to satisfy the urge and carry on as usual.
No matter what the situation there is always a positive and a negative that comes from it. Same goes with your attitude towards it. Find out how I choose to perceive certain setbacks I have recently had to remain confident and postive rather than lose my motivation.
This episode I go over how I would recommend building a strategy for your trading. Whether you are using a 'template' from someone you know or building completely from scratch, I share with you my opinon and what works for me.
Certain things from a recent meetup and offer I put out on social media made me realise a few things for myself to do with the perception on social media from the past and in terms of how I value myself. Also a touch up on a new strategy development beginning.
This episode I share my opinion on whether you should copy peoples strategy. Whether it is from youtube or your mentor, is it actually worth it and will it work? I give you both sides and what I think the best approach to strategy development is.
This episode I go over a potential way to manage money through social trading platforms which will enable you to earn money doing absolutely nothing different. Or on the flipside you can be the actual investor aswell and have it as a more speculative investement.
Out of nowhere I jumped out with a comment of 'I am the best trader out there.' Yep bold borderline delusional statement right? Maybe, maybe not. However in my opinion if you don't think you will win and if you don't think you are the best or going to be the best, you have already lost half the battle. If you are in a sports competition and you are in a 'losing' mindset, what is the likely outcome? Have a think about that and enjoy the episode.
This epsidoe I go over how I did for Q3 of 2019 in relation to my day trading account and the mechanical account and my honest as always thoughts and feelings about them and going forward with my trading.
I had been aware of range bars for a while but never used them due to my platform not providing them. However a few traders made me aware that there is a place where I can get access to them and now I am all over that. Playing about with them only for a short amount of time and I am getting more and more excited for when I can implement them into my trading aswell.
If you have been following my youtube around this period you will know how quiet the markets are for me per my style. However despite all that, I have kept patient and managed to capitalise on a few winners and in the process avoiding many losses. Positive reinforcement on patience yet again.
Follow up from Did I Waste My Time episode looking at how I managed to filter out my data to turn it from ridicilously negatvie to something I am willing to work with.
Again this is only in testing but it gave me some hope at the time as the last chance for FTB and Patterns.
After finally finishing the dreaded backtesting of the 4hr patterns I seriously questioned whether I did it all for nothing and completely wasted my times doing it.
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Today I go over why I am excited about my trading and my future despite having a rough year. There is a small little bounce from the future towards the end to let you know how that has progressed aswell but you can see that desire to succeed and make it work no matter what.
If there is one episode I recommend you listen to improve your learning it is this one. One thing that you need to do no matter what industry or proffesion you are in, the more practice and reps you put in the better you become. Simple. Find out how I go about doing over 100 predictions every single week on a consistent basis with quick feedback from the markets.
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This episode I go over my changes to my social media approach and my reasoning behind this. If you have been following me for a long time you might remember the type of content I used to showcase and would probably understand the reasoning behind the decision,
This episode I go over the minor details of leaving different drawings on your chart and how it can possibly enhance your trading education or deleting them and redrawing every single day to make sure you are consistent and clear in your analysis.
This episode I go over a slightly different concept of what is the dominant timeframe as I believe that it is something that exists and how you can use that knowledge to improve you trading. Also going over the conventional 'best time frame' discussion and my thoughts on how you go about choosing what timeframe you are on.
This episode I go over an eye opening lesson from the live room and how it provides a potential method for me to increase my aggression in the markets to allow me to capitalise on more of my predictions in the markets which over time have played out at a decent rate.
This episode I share with you all my experiences with drawdowns and how I have handled them and if it caused me making any types of mistakes. You can learn how to go about them when you are facing them because they are inevitable and not sabotage your trading during these periods.
So I'm pissed off. However the reason I am is a very positive reason and in fact just gives me more and more confidence going forward for the future. I discuss something I am noticing from my trading and how I can't capitalise on it yet but looking at the solutions for it.
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After coming back from holiday with a slightly clearer mind, I discuss what I have missed out on in my trading and general approach carrying forward.
Taking a break from the charts has really got me bored and thrown off as I am so used to the same routine of trading but I share with you how that has impacted me alongside a random sidetrack and just a chilled episode to be honest.
This episode I go over the lessons learnt from my first month day trading and the things I have noticed so far, why my confidence remains high and what counters my lack of backtesting on that account. Also including my attitude towards both accounts at the time.
Half controversial topic I guess but something that I firmly believe in and it again comes from personal experience. I have spent countless hours, way more than I want to know, and I feel like they have gone to waste when it comes to improving my actual skill of technical analysis simply due to the rigid rules around my strategies at the begining of my journey.
This episode I go over whether I think correlation exists in the market and whether you should use it in your trading or completely ignore it because every pair is unique and is not dependant on other pairs.
In this bonus episode I go over my thoughts and feelings throughout different periods in my trading and how I reacted to them all the way up to this date and how I am looking to keep evolving and shape my trading for the future to keep improving more and more and really hit that sweetspot.
Yet another topic where I feel quite strong and its about all the experiences I have gone through that I have only learnt from because I was live trading when I was going through them. In my opinion there is nothing close to live trading and all the different feelings and emotions that come with it positive or negative.
Something I feel very strong on is NOT having your stops or targets based on one another. This episode I go over why I believe that you shouldn't place for example a target 3:1 RR purely due to wanting to have that risk reward ratio. Instead I think targets and stops should always be at a location that you believe should hold or price can genuinly go there so for me it makes no sense to have pretty much random targets and stops.
Despite being quite young and still relatively new to the markets compared to the most experienced people out there, as anyone else I have that gut feeling about certain things. This episode wouldn't include price action for now but in terms of my system and certain action I am or have taken in the past to do with my trading. Turns out it is quite accurate so maybe I have to start trusting it that bit more.
This episode we go over the fact that there is no right or wrong way to trade and what that allows you to do is really fine tune it to your personality. Again another episode about personality aswell which just shows how important I believe that to be. From people trading with indicators only to people trading price action only or even on pure discretion and limited rules end of the day as long as it works for you does it matter how you are doing it?
This episode I go over the pros and cons of using these 2 different risk management / position sizing techniques and how they can affect your account but most importantly the difference in psychology between each of of them and how one is easier to execute with a certain order type compared to the other.
This episode I go over how to handle the psychological hurdle of fear to take the trades you are supposed to or overtrading and taking positions when you are not meant to be involved in. There is a few very simple things you can do in terms of changing order type or just being disciplined and confident in certain aspects to eliminate those mistakes.
You know my trading journey and my opinions so far but doyou really know ME. In this bonus episode I go over something I probably should have done at the start and go into depth about me and my story aside from trading and you will understand the deeper reasoning behind things like my marketing or lack of it and my presense on social media.
Subscribe, Rate and Review if you enjoyed that and are interested in that free session mentioned.
This episode I go over my mentality about missing a winner or taking a loss and which one would actually hurt me more psychologically and the reasons for it. I believe the more we know ourself the better we can suit our strategy to our personality which would lead to better results and this is a small part of that within your system.
A detailed look into the changes I am going to make in my trading for this year and the reasons behind them. Over 5 changes are made, some more significant than others but they will all play a part to an even better 2020.
Rating and a Review if you found this bonus episode valuable.
This episode I go over the methods I used to learn technical analysis whether it was intentional or not and what I would recommend for traders earlier on in their journey to do to not only speed up that process but become better at trading overall.
This episode I go over the things I learned when attending The Trader Vault hosted by Jason Graystone and Mike Bellafiore and other special guests. I had a few interesting conversations and a 'minor' little takeaway which had really got me thinking and looking over my trades for a certain pattern after entry.
This episode i discuss the importance of patience in the market and how it actually ruins a lot of traders out there. It is very common in the summer that traders will lose money but the reason isn't because the markets are out to get you. It is mainly as it is much slower and many run out of patience and start forcing setups.
Complete honesty and transparency is what I take pride in. Sometimes it helps me and sometimes it will go against me but I like being brutally honest not only with myself but people around me. This episode I go over my year in relation to trading including how I feel about mentorship, social media and providing education in the future. Like I said my honesty might not be the best for marketing but you will see my shift in mindset for the near potentially long term future.
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After digging into my numbers I found out some very interesting things and put me in a very awkward position in terms of filtering. I was in the middle of choosing whther I adjusted on a recent 6 month performance that would have significantly improved my trading year so far but over the course of 5 years was much worse according to my backtesting. Which option would you have gone for and why?
This episode I go over what advice I received from one of my coaches in relation to my struggling account and how I felt about some of the advice as it wasn't something I fully agreed with initially but decided to trust him and take it anyways.
Finally the long anticipated day trading has begun and I walk you through all my thoughts throughout the first live trades taken on the day trading account. Also discussing the complete difference to anything else in trading when pulling that trigger especially for the first time.
This episode I discuss different ways and methods to change your aggression in your trading approach and how your situation can actually make you change it. Also looking at how you can use different techniques to enter your 'better' setups to further enhance your trading.
Doing youtube for over 6 months consistently and on track to around 500 videos per year, I share with you my thoughts on how youtube will actually help your trading or learning and for a minimum investement can actually provide a unmeasurable value to you and your trading.
One of the episodes where I actually sound really down but one that somehow I am proud to share and feel like it's the exact representation of the transparency in this podcast. I go over my thoughts and feelings on how my trading has gone in the first 2 quarters of 2019 with a brutally honest approach. Enjoy.
Make sure you Subscribe,Rate and Review just for this special episode :)
This episdoe I go over the pros and cons of choosing which opportunities to take and how that links when trading a larger portfolio in the markets alongside why I like a certain aspect in my new approach to trading.
This episode I go over how you can go about when it comes to choosing your timeframes and whether you have to let your lifestyle dictate that decision for you or is it just more important it suits your personality and you make the time consistently for that specific period.
This episode I go over something I am quite confident in saying which is you dont need any fundementals to be able to trade consistantly. I know most people out there assume that you have to contantly be up to date in the world and the news but in reality you just dont and it is one of the reasons I actually feel very confident in suceeding in trading.
Just before I officially went live with my day trading account I still had to write out my plan and finalise it and have it in a written form just before the big day. This episode I go over many things you want to consider having in your plan to keep you that extra bit consistent and even though its adding more rules how it still keeps the fluidity in the what I am trading.
Having taken someones suggestion on board I began retesting my strategies to make sure they actually have a positive expectancy. Doing so and comparing results put me in an interesting dilema and stuck between 2 options so find out what this was and my thought process so far.
There is a huge difference between almost mechanical systems to complete fluidity in trading and both as anything else in life have their pros and cons. There is a complete difference is psychology behind both of them and you get very different emotions through the good periods or the drawdown so it is important you know yourself and which you think you can handle better. Find your place on that spectrum.
One of the problems traders do have is not making mistakes in relation to following their plan and rules. Very frequently a newer trader may take profits early or push stops back or simply just not wait for their candle to close despite setting is a rule in their plan. These mistakes compound over time and can be very costly so this episode I go over what the mistakes are and how you can go about solving these individual problems.
A BONUS Episode that I thought it would be selfish of me to wait months to release. This is a challenge I am setting to every trader out there despite the level they are at in the aim of improving your trading every single day. There is nothing more valuable than reps in the market to build that discretion and confidence going forward so make sure you take this power hour challenge on as soon as you hear this episode.
Get everything ready and BEGIN your Power Hour Challenge.
One of the most important things in trading in my opinion is for your strategy and approach to be suited to your personality. This episode I go over my development of my trend continuation and other strategies which were not suiting me as well as they could be and how I went on to develop and adapt them going forward.
This episode I go over my goals in relation to trading and going over the many methods that you can use to monetise the skill of trading and turn it into a business despite having a low starting capital and how you can use that skill to actually grow it. Whether it is money management, signal service or education there is loads of money to be made eventually. But you need that track record first.
This episode we go over backtesting and my honest opinions on what I think is a MUST backtest and what isnt and I go over my reasons why. I know theres many traders haven't even heard of backtesting and might try and shortcut it even if they did know but I feel like they should at least be aware of the potential consequences if they do or don't do that in relation to their strategy and psychology.
The nature of this episode pretty much sums up exactly the goal of this podcast which is to show the reality of becoming a trader and some of the things that I know I am not the only one experiencing. It goes over why my motivation to do certain things in trading is lower than what it started with and a very important difference in what I doubt mentioned towards the end.
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Lach
Loads of successful people will tell you the importance of having a consistent routine for your day so I share with you what I do on a consistent day to day basis as a forex trader. Whether it is busines or trading I belive this is something very important to have in your life but it has to be suited to you as an individual for it to be sustainable.
Part of the routine right here -> Youtube Channel
This episode I go over my plan for my portfolio and how I want to split into 2 different trading accounts with a very different approach from one another. You will see the reasoning behind me doing that and visions I have for these 2 accounts aswell as a quick insight into how much time it actually takes to trade each of them.
This episode I go over my current portfolio and the various strategies i trade and how it has evolved since the begining of my live trading. What adjustements I made and some of the filters I used to enhance the expectancy of my system. I also discuss my reasons behind changing certain approaches in the markets.
Introduction and a bit about me and my journey so far and what this podcast will be about. You will hear some of my experiences since the beginning and you will see that all that fancy get rich quick scheme out there is not actually the reality of the trading journey. In summary a little catch up.