timeline and experience

about dayforex

Timeline

1998

Start full time trading with own funds as regular income stream.

2001

DayForex established, offers training to new and inexperienced traders.

2002

Led a self-regulatory drive for the retail forex trading industry.

2005

Authorized and licensed by the FSB. for "Other People's Money" trading.

2006

Introduces a lifelong personal mentoring program.

2009

Terminates 'OPM' trading and focus on trader training and mentoring.

2023

Prop trading industry matures as classic forex brokers get involved.

2024

Adapt training and mentoring for classic forex and funded trading.

Experience

Trading Experience

I started trading in 1998 under the guidance of an institutional trader. After a few months I decided to go full time, using my own capital.

Very soon, I learned a crucial lesson: fundamentals matter. I immediately understood the importance of looking at the bigger picture and also recognized the dangers of using too much leverage.

The unstable 'income' from trading takes a toll on the psyche, making it essential to have a more stable income stream. That’s when I started a forex training program and founded DayForex.

Local regulations allowed us to trade investor funds. DayForex became licensed and traded individual investor funds through a PAMM structure and, for a time, in an investor's fund structure.

After many years of trading and experiencing its unintended side effects, I chose to focus more on mentoring, drawing from my years of experience as both a trader and a mentor.

Personal Mentoring

Having gained success as an independent trader, I felt I could offer valuable guidance to struggling or new traders through an online mentoring program.

The global trading education market was booming, and with an eye on capitalizing on mentoring while trading other people’s money (OTM), I founded DayForex.

My e-book, Bird Watching in Lion Country – Retail Forex Trading Explained, became a bestseller. This allowed me to extend my mentoring to even more traders.

My trading philosophy emphasizes the importance of fundamentals, low leverage, and risk management, without relying on complex technical analysis.

Personal mentoring goes beyond trade identification, risk management, and trading psychology. It requires a holistic approach, focusing on the individual first and then the budding trader.

Abandoning short-termism in favor of a sustainable long-term process is key. By sharing the lessons I learned during my own trading journey, traders gained the confidence to begin and maintain their own path.

Countering Information Overload

With the global forex trading boom, self-proclaimed 'experts' emerged everywhere. New traders faced the paradox of choice: brokers, platforms, teachers, forums, and a never-ending supply of trading strategies.

With my experience, I was able to filter and control my clients' exposure to unnecessary and unhealthy information. Over the years, I "protected" clients from toxic social media marketing, scams like binary options, and, initially, prop trading with irrational profit targets and unrealistic time frames.

Hidden sources of information overload include intraday price data, excessive technical indicators, very short time intervals, numerous economic data releases, and the sheer number of markets available to trade.

Through years of experience, I’ve helped shield clients from harmful analysis practices, irrational trading strategies, risky risk management, and detrimental trading psychology advice.

Understanding Marketing Wizardry

The forex brokerage business has changed dramatically over the years. Initially, competition was limited, and the market wasn’t crowded. Brokers earned wide spreads and high commissions.

As the market grew more competitive, broker revenue came under pressure. The race to the bottom began, with no commissions, narrower spreads, smaller lot sizes, and an influx of undercapitalized accounts.

Forex brokers had to evolve into marketing operations, using the 'dark arts' of internet marketing to target an uninformed public. Churning through trading accounts became their primary focus.

The main marketing message encouraged traders to trade higher volumes with undercapitalized accounts, which was detrimental to the trader but beneficial for the broker.

As account sizes shrank, leverage—and, consequently, lost accounts—grew. Minimal investment in trading capital made it harder for traders to afford high-quality education, training, and mentoring.

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