In December 2017, Alpari launched a completely new competition for traders; Trader Wars. Olga Ivanova was one of the contestants to win a prize in the competition’s inaugural round, claiming 4th place in the final rankings. We conducted a short interview with Olga, in which we asked her to tell us a little bit about herself and to share some of the secrets to her success.
What do you do outside of Forex? Do you think that you’d be able to make a living out of Forex trading?
I’m relatively new to trading; I’ve only been using funded accounts for a year or so, although I would say that speculation comes naturally to me. I’m a vet by education and profession, but my husband, who has mastered the basics of currency speculation, has been slowly pulling me in to Forex. We both still work in our respective spheres, although I’m sure we could live off trading if only we had more startup capital. But that’s life; your expenses are constantly playing catch-up with your income and so it’s difficult to find any free capital for such risky activities.
Could you share your thoughts about the new contest? What makes it different from our other contests in your opinion?
Well, I think that the knockout system itself is interesting, you need to be on point every day during the second round; you can’t just maintain your positions in the hope that your loss will turn into profit the next day. On the other hand, the second stage is made very difficult by the fact that there aren’t any breaks between battles. For example, I had to take some days off work and I was sleeping in two-hour segments throughout the day so as not to miss out too much.
What’s the best piece of advice you’ve heard from financial experts? What was the stupidest?
I haven’t read anything stupid from experts. I’m a long-time fan of your analyst Ojimadu, and his trading idea on the EURJPY pair came out at the perfect time for me as I often buy or sell the EURUSD and USDJPY pairs together. All I needed to do was make a note of potential reversal levels and I was on my way!
What do you like most about trading? What annoys you the most?
I like the gambling aspect of trading, although I learned a long time ago not to go all in, but to steadily build up my deposit. I was a bit shaken by this contest due to the fact that I had to compete in a new battle every day during the second stage. Also, given that it’s a new contest, there were various technical issues that hindered my focus on trading. Still, I got a good result in the end.
Name three sources of information that you use to help you make trading decisions.
I always use the ADX and RSI indicators to assess the trend, envelopes, and 50 and 100-day moving averages for identifying reversal levels.
If you could talk to any famous person (dead or alive), who would you want to talk to? What would you ask them?
I’d probably want to talk to Gann; he was very interesting and mysterious. To this day, his work is used to identify reversal levels to within a few minutes. Not everyone gets it, however, and his works are now divided into separate tools, while only he knew how to combine them without opening a modern Forex-style Pandora’s box. I’d like to ask him about this in particular.
Do you think that trading is for everyone? Or is there a certain type of person you would advise against currency trading?
I think that trading is a perfectly simple and accessible way to earn money, there are just a few rules that you need to follow religiously: “don’t be afraid, don’t be greedy, and don’t rush!” And as Lenin used to say: “Learn, learn, learn!” I wish everyone success in their financial endeavours and see you in the contests!