REWIND: Two Blown Accounts, Third One's a Charm with Lydia Finkley
In this Limit Up Rewind, Lydia Finkley talks about how she was introduced to trading, finding a strategy, and her tried and true tricks for traders just starting out.
Lydia Finkley has a unique - and all too common - story. She was introduced to trading by her mother, an unusual start to a professional forex trading career. But from there, Lydia went through all the normal growing pains of a professional trader. She blew up two accounts, in short order, before scaling back drastically in her third. That's when she started to learn a lot about herself and the market. Since then, she's put a number of controls in place to ensure that she never experiences a loss like that again.
- [03:21] Getting the Trading Bug
- [05:34] Learning the Markets
- [08:41] Getting back on track after unsuccessful trades
- [11:22] Checking on the market at particular times
- [15:33] Finding a trading strategy
- [18:22] Cash as a position
- [22:23] What to do when you’re in a position you shouldn’t be in
- [24:16] Starting out in electronic trading
- [26:14] Scariest Trade vs. Best Trade
Episode produced by Dante32.