Episode 1 – Basic Advice for Beginner Traders with Ilan Azbel from Autochartist
These podcasts are generally going to be recorded on a Friday for release the following Monday. Therefore we will have a look back to ‘Last Week’ and a look forward to ‘Next Week’ in the show notes.
As we are just launching we recorded 3 episodes back to back for launch the following week.
The zen-like Ilan Azbel of Autochartist. Saffas seem to have the monopoly on awesome names (Elon Musk anyone!?)
He gave us some great tips about not sitting on losing positions and keeping trade size small without overtrading. Some great basic advice for us as beginners!
Really good to hear a successful trader with 20 years track record believes that anyone can do it!
Great progress has been made behind the scenes on the site and podcast this week. Credit to Producer Tom for labouring on that one…
Brokerage accounts opened! Money deposited! As you will be hearing from today’s guest Ilan Azbel in the second part of his interview in episode 3, this first step is crucial in committing yourself to not just watching from the sidelines.
It doesn’t mean we have to start diving into trades just yet though! As he reveals in the second half of his interview in Episode 3 – this would be a terrible idea!
We will: Study the markets, work out the mechanics. We need to become familiar with the platform of the broker we are using and just start observing the markets. Trying to work out average daily pip movements for a variety of currency pairs, what is the general way they move during the day, how many reversals etc.
We’ll be looking at:
We’ll also keep an eye on the UK100, partly to get a feel for how it moves differently to currencies and to judge the correlation with GBP. They all say start by trading what you know…
No trades this week, just learning and observation.
Thanks for listening!
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Tom + Owen