Back in February, Navin spoke with Raman Gill from Trading with Venus.
This was the 60th Episode of Raman's Trading with Venus podcast.
Navin begins by describing his journey into trading...
Navin's interest in the online world spiked after seeing his teacher doing options trading from his laptop after school. At that stage, it wasn't the trading aspect that fascinated Navin, but the option to work from anywhere, not needing to go to an office every morning.
He remembers his Dad telling him that whatever he is going to do, do it big, and at the time, Forex was one of the biggest online crazes out there, so Navin set out on his journey to master it!
But it wasn't just plain sailing...
There were several times where Navin felt like throwing in the towel during his journey. Every time he failed or every time a new strategy didn't work the thoughts occurred that maybe this wasn't for him.
But instead of giving up, he took a leap of faith...
Navin dropped himself out of college in order to focus full time on trading. He moved from the US to India as the cost of living was cheaper which helped his situation.
This is where Navin's performance began to stabilize, even during the tough times he never gave up, he persisted through.
So many people just want to become successful right away and don't understand that it takes time.
There are many professional traders out there that are making a lot of money, more than pilots, lawyers and doctors etc... All those pilots, lawyers, and doctors had to go to college for 5, 6, 7 years and spend tonnes of money to get where they are, so putting in a 2 or 3-year grind at a fraction of the cost should be acceptable for anyone with the desire to become a professional trader.
Navin recommends keeping your leverage low at the beginning and not to get carried away too quickly even after a few wins. If you get a few good trades and then up the leverage then you run the risk of wiping it all out.
Scale up slowly and when you are showing consistent signs profitability.
One of the best habits that Navin acquired on his journey is doing Post Analysis for every trade he takes. This includes post analysis for the winning trades, the losing trades, and the break-even trades.
After the trade Navin would sit down and figure out what went right about the trade, what went wrong about the trade, what could have been done better and why?
Through this post analysis, Navin realized that a lot of the mistakes that he used to make were more down to trading psychology than technical reasons and could be avoided.
Navin also speaks about one of the trading books that helped him on his journey, Dr. Gary Daytons book "Trade Mindfully".
Raman also asks Navin about the things he might have done differently, so you haven't already, give it a listen and let us know your feedback in the comment section below.
In case you missed it, Navin also did a Podcast interview with Étienne Crete in January.
Are there any other trading podcasts that you would like to hear Navin appear on?
Let us know in the comment section below.
With Pip Love,
Garry at Urban Forex
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