On this week’s episode of Opto Sessions, we were fortunate enough to be joined again by highly esteemed, and anonymous, trader 50 Pips. As an individual with a gift for analysing price action, 50 Pips is highly respected in the trading ecosystem for his unbiased approach to assessing asymmetric opportunities in the market.
But 50 Pips does not think he has any special powers. In fact, what he considers his advantage is the way he thinks.
“Ultimately it boils down to realistic expectations about doing what I need to do,” he told Opto Sessions.
“Ultimately it boils down to realistic expectations about doing what I need to do”
“I joke about it on Twitter, but I know that come rain or shine I'm going to be in front of the screens for London open and I’m going to trade. That's going to happen,” He explained that he’s hosted webinars before with no voice, communicating through a chat window, not because he considers himself a hero, but because when he has something to do, he does it.
“My edge is just that I know what I need to do, and I do it, and that's not negotiable. Do I have a special power? Do I have a special indicator? Do I have a special system? Do I have special risk management? No,” 50 Pips said.
What he does have is willpower.
“I can give you a system that's guaranteed to make money. But if you don't respect the rules, if you don't click on the button, if you don't do what you need to do, the system is useless. I think for a private retail trader, your edge if it doesn't come from you, I don't know where it comes from.”
“I can give you a system that's guaranteed to make money. But if you don't respect the rules, if you don't click on the button, if you don't do what you need to do, the system is useless”
To hear 50 Pips’ outlook on the upcoming US election, on recognising market flows, and the risks of inherent bias, listen to the podcast here.
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