"A successful trader is essentially 'a person from another planet'" - Sergey Melnikov
Today the guest of the FORTRADER.org editorial team is Sergey Melnikov, one of the financial analysts of the Russian market. We will discuss with him the traditional questions about currency trading in Russia.
- Hello, Sergey. Tell our readers, how did it happen that you got acquainted with trading on the financial markets?
-Good day! I got acquainted with financial markets when I was 14 years old, when I was given Theodore Dreiser's "The Financier" trilogy. Since then I knew exactly what my life would be associated with.
- Trading is becoming more and more a part of our life - many people know about the foreign exchange market or are holders of certain securities. In your opinion, why has the popularity of speculation in Russia and the CIS countries developed so actively in recent years?
- I think that the popularity of making money in the financial markets is increasing due to the tremendous growth of technology in recent years. Just think, not long ago, maybe 20 years ago, financial instruments' quotes were transmitted over the phone! Now we can trade everywhere and open transactions by means of a trading terminal and the Internet. You can speculate on the price of oil or gold while swimming, say, in a boat, on the Caribbean Sea or vacationing in the mountains - there are no limits. You can trade anywhere, 24 hours a day. Technology rules the popularity of making money in financial markets.
- Can anyone become a trader, in your opinion?
- Anyone can become a participant in the financial markets, but not everyone can make money from them. There is an official statistic - only 5% traders earn and 95% unfortunately lose.
- What qualities should a trader have in order to become a professional?
- To become a successful trader, you must have unique qualities and characteristics. This applies not only to huge knowledge of economics, politics, but also to psychology. A successful trader is essentially "a person from another planet". He is unique: he sleeps little, he is greedy for information and knowledge, he is constantly evolving! From the psychological point of view a trader is a person without emotions, it can be called a robot. And the main thing that he never has enough money, he always wants to earn, he is so greedy to earn, that there is no other excitement in his life. For such people work is a drug.
-What is the most common mistake traders make, in your opinion?
- The main mistake traders make is trading with emotions. They need to be completely switched off. Here traders can be compared to mixed martial arts fighters. Let's remember our greatest fighter Fedor Emelianenko: he went to the ring completely switching off his emotions, and it was the main guarantee of his great victories. It is the same in the market - in order to make money, you have to be very cold and sensible.
- How do you feel about the introduction of regulation in Russia? Does your company plan to obtain the necessary license from the Central Bank of Russia?
- I have a positive attitude toward the regulation of the FOREX marketHowever, in my opinion, the Central Bank of the Russian Federation approached this issue unprepared. Very "raw" everything is done, and in some places not done at all. Everyone is obliged to get a license, but they have not even prepared the so-called nominal accounts. And on top of that there are a lot of gaps. Such changes take time, although regulation in Russia is simply necessary!
- Why traders should work with your company?
-Because you should always work with the best. We have the most professional specialists in this business, great experience, and unique conditions for trading. As you can see, there are enough reasons.
-Surely you've had some funny situations with clients in the course of your work. Without naming names, could you share one with us?
-The funniest case happened once with a client when I was working in one of the companies: one client was self-trading and started trading with 50,000 $. Having lost almost everything (he had only about 1600$ left), he stopped trading, got "offended" by the financial markets, and went to rest to heal his nerves. Shortly before he made the decision to stop trading, he placed a so-called pending order (this is an automatic opening of a position if the instrument reaches a certain price level) on one of the currency pairs. Funny enough, but while he was resting, this order opened, and the trade brought him 60,000 $. As far as I remember, he found out about it accidentally several months later. The moral of this story is simple: the war is not lost as long as there is even one round left in the clip. Never give up.
- What advice would you give to newcomers to the exchange?
- If you are a beginner, I would advise you to get enough bumps, the more the better. It is more comfortable to learn how to fall from a small height to avoid serious falls in the future. More patience and an endless hunger for knowledge!
Other interviews
- "The regulation of the foreign exchange market in Russia will separate it from the casino," Anna Kochkina, Insta.
- "Trading is not easy at all. Expensive and long," Valentina Drofa, founder of the iLerney portal
- SRO - between traders and dealers. About the structure in Russia with Alexey Yevsikov, CRFIN
- "The ideal regulator is the one whose activity is invisible," - Igor Volkov, MFX Group
Thanks for the article! Very helpful)
I want to write a review on the subject of the article and on trading in financial markets in general. I started trading after 25 years of age when I tried my hand at different office jobs, but it didn't suit me, as they say. I've read a lot of literature about this field and I can say trading is my life's work. I cannot boast at present about high turnovers in my trading, but the "penny" I earn is more than enough to live on. Unfortunately, as correctly noted in the article, not all traders earn, most of them work in deficit, but I can say for beginners: he who does not try never achieves a victory.
I especially agree with Sergey's opinion that not everyone can make money in trading. It all seems so easy at first, and then you realize that this field requires not only knowledge and hunger for money, but also personal characteristics and a special character. And he was very right about emotions, too.
Informative, objective, informative. Let everyone get to know themselves.
Браво — бис!
Very interesting interview with Sergei. I regularly follow his successes and forecasts. It makes sense for people interested in trading to get acquainted with this person's views on trading. The article also describes some interesting aspects of his life in the financial world. Thank you for this interesting interview. I look forward to reading articles like his.
Ни один нормальный человек, адекватный, никогда не скажет про себя — успешный, с др. планеты, про свою компанию- самая лучшая, уникальные возможности.
How could Sergey Melnikov give an interview in June about ECN24 if he left it as the company which bilked its clients and does not pay them money? Sergey Melnikov has been working as an analyst at Global-fx.com since January, which revived after the scam in 2014 when it bilked its clients for money according to mmgp and other sources. Or Sergey Melnikov is still heating Ecn24 clients for money and decided to expand his activities with Global-fx, which has neither phones answer, nor support service does not respond to letters and calls, nor to their office on Naberezhnaya 8 is impossible to get to because of encryption, nor can you get a license number, with a reference that it allegedly in Toronto or intermediaries like mfc.group? But Globa-fx became broker of the year according to Forex Expo 2016. And it is clear to a fool, a bribe was given, but the question is in what amount forex expo sold to a shoestring broker?