Trade

Top Trader Tip: “Start for Free With a Demo Account”

Guest Author | June 11, 2018 | 1:28 pm
etoro, wayne ryan
Trade

Top Trader Tip: “Start for Free With a Demo Account”

Guest Author | June 11, 2018 | 1:28 pm

An interview with Popular Investor Wayne Ryan (goodgoing)

“I think my initial investment on eToro was probably around $1000,” says Wayne Ryan, reminiscing on his humble start just over three years ago. Today, Wayne is one of the platform’s top-performing traders, with a strong following of over 27,000 users.

Which eToro tool do you consider the most important to your trading, and why?

The eToro mobile app. It’s crucial for trading when you are on the move. Having non-stop access to the markets, day or night, cannot be understated. The mobile app allows me to see charts in real time and set alerts to notify me if I am near key levels of support and resistance.

Tell us about your best trade.

I don’t really have a best trade. However, I do have a specific day when I had several great trades that were set in motion leading into the UK referendum. I traded for 24 hours straight, without sleep, during the 16th and 17th of June, 2016. Perhaps fifty or so successful trades were made before, during and after the immediate vote. All trades were selling the Cable.

What was a mistake that you made as a new trader?

Allowing emotions to influence my trading. With time and experience, I have been able to disconnect my emotions from all my trades.

Which lessons from other areas of your life have you been able to apply to your trading?

I have a Bachelor of Science degree in Business Studies. A large part of my studies was learning financial management and accountancy. These skills have been essential in maintaining a low-risk approach to trading, and for clever money management — not just for my own account, but now for my many copiers too. Marketing has also played a key role in helping me to promote myself on the platform, and to communicate effectively with both followers and copiers alike.

What do you feel sets the great traders apart from the rest?

Obviously, great traders require the skill set to perform well, whether that’s specific to a particular instrument, or as a general approach. To be a great trader requires a steadfast confidence in your ability and in the techniques you use.

What is your personal motto?

Trust in the best.

What would you like your “legacy” as a trader to be?

My ultimate goal has always been to be one of the leading Elite Popular Investors here on the eToro network, and to be remembered as a truly great Forex trader.

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