Daniel Samadi is one of most recent CTI’s funded traders who passed the evaluation in just one month. He has shown great discipline and consistency in his trading that helped him pass the funded trader program in just 1 month.
As one of CTI’s funded traders, we are proud to have him on the team as one of our Golden Traders and to share his experience with the funded trader program and some of his tips and hints on how to pass the evaluation with the right mindset and approach to trading the fully funded trading account.
An example of how trading strategies foster innovation is how Daniel incorporated a form of volume analysis into his trading, which effectively aims to measure the market’s liquidity. I mention innovation as with spot FX, what CTI’s funded trader program provides access too, is a different because it is unregulated (there is no central exchange like the futures market or a stock exchange) so you cannot use volume in the conventional sense.
However, if you are innovative like Daniel, you can adapt because with spot FX you can use tick volume; IG Index goes through it as a con as volume can be defined differently, but Anna Couling goes through how you can use it to trade. (See how trading encourages innovation!)
I won’t leave you handing after mentioning how volume can be defined differently!
Some traders will use the classic volume bars to measure volume, others will use indicators such as volume profile, market profile, strong candle stick movements (think of the elongated bodies). These tend to be more popular measures.
The secondary measures tend to be what what I’d dub faux-volume indicators as these are oscillators and they track momentum. Though, if you really think about it, you can make the case that momentum and volume track the same thing. Common examples are RSI, Stocastics and what have you.
One thing to consider is a new indicator, and expensive, is footprint analysis- think of this analysis style as candlesticks which went to the gym and took all sorts of supplements, roids and smart drugs! This charting style attempts to imbed volume and order flow into the chart itself.
Though, its more for analysis at this point I’d say as right now if you would like to trade swiftly there is only so much information you can process. So I’d recommend candlesticks… so the candlesticks should keep off the roids and the smart drugs! : )
Without further ado, here is Daniel’s interview!