info@udaytrading.com

About Me

In the beginning

I started trading in 2001 and I have done nothing else since then. I love trading. I love the process of being alone in my office analyzing economic data, watching price action and studying every piece of information available to me. I can spend 10 to 16 hours a day in front of my computers with very little break in between. It truly is my passion.

I began my trading career just like most everyone else. Since high school, I was always fascinated by the traders I met through people in my family.

There was quite a difference between some of the traders I met when I was young. There were two distinct types of traders I grew up knowing. The first was the typical trader who produces profits and can sometimes afford to live off their trading efforts however their performance is like a roller coaster ride. Often times matched to the activity that's taking place in the overall market trend.

The most successful traders I have met are usually very reserved and spend a large amount of time controlling themselves and their surroundings. These traders develop their own strategies and techniques after spending enormous amounts if time studying the markets, trading systems and understanding their own personal psychological strengths and weaknesses. They also developed a detailed business plan and tested a solid trading strategy which incorporated both fundamental and technical analysis.

Clearly there was a big difference between the two types. The first type would often have negative months and often times blow up their entire trading account however they were determined to stay in the business of trading rather than find a job or operate an off-line business.

The second type of trader which I consider the most successful type in almost every way, clearly lives a different lifestyle and has very realistic expectations.

So I knew from the very beginning how I needed to think, live and act if I was to model the most successful type of trader.

In the beginning I knew I would not understand most of what I was reading and learning however the more I continued to expose myself to the terminology and the reaction to the news, I would begin to develop a good understanding of what to expect and create a trading system that would take advantage of this information.

 

My First Trading Success

When I share my personal accomplishments with others, they ask me if there was a moment of enlightenment or was it something that came about slowly, piece by piece overtime.

For me it was a combination of the two. There was always the days of euphoria when I was having a good day but often times at the end of each week I would reflect on my trading and realize how much more I have advanced.

 

My first chat room and mentoring experience

I began sharing my trading strategies in a private chat room about three or four years ago. This private chat room was for family and friends but quickly grew as they brought in other family members and friends.

I found myself repeating everything I did or said on a day by day basis so I developed several trading manuals which I would e-mail in a PDF form. This still left a lot of open ended questions so I purchased a screen recording program to make my own videos. What I realized from doing this is that it not only benefits my students, it actually made me a better trader. Each time I repeated my rules or my strategy, it reinforced all of these ideas.

Mentoring is and can be a very overwhelming responsibility but I've always believed that it keeps me sharp and focused and pushes me to a higher level.

My background before trading was as an independent business entrepreneur. I also excelled in sports and was very competitive, mostly in sports that were one-on-one where I found myself relying on my own efforts, making me accountable for my success or failure.

Many have found that it is a common trait that successful traders are competitive however very structured and disciplined.

Approximately 3 years ago I created my first website to sell my trading course. It originally sold for $350 and included six trading manuals and approximately 50 to 60 videos that showed live trades and detailed examples and explanations of my trading system.

I also had a live chat room to teach my students my trading strategy and to help them understand what I do and how I trade. I enjoy trading with my students in a chat room, they are a wonderful group of people and very hard-working and determined.

I have also offered other services such as SMS alerts which were basically trade signals sent to my subscribers' cell phones. and I have created EA's for the metatrader platform.

 

Present

In addition to my usual daily tasks and trading, I am offering as much Free content on this site a possible. It will be updated with new videos and training from my traders course... all for free.

I know how hard it is to master this business and I wish to share with anyone who is really serious and committed to their trading business.

I also know what it feels like to be in the position you might be in now. I did not know who to trust and no one showed me a profitable system, I had to learn it on my own other than the basics I was taught from trader friends.

I trade by the following saying...

"you must learn the rules of the game and then you must play better than anyone else"

 


Disclaimer:

Past performance is not indicative of future results, as returns may vary according to market conditions. Trading in foreign exchange is speculative and may involve the loss of principal; therefore, assets placed under management should be risk capital funds that if lost will not significantly affect one's personal financial well being. This is not a solicitation to invest, and you should carefully consider the suitability of your financial situation prior to making any investment or entering into any transaction.

Hypothetical performance results may have many inherent limitations, some of which are described in the risk warning. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.

One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all  investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objective, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose.

You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

By Federal Mandate, Foreign Currency Traders Must Read This First
Before deciding to trade real money in the Retail Forex market, you should carefully consider whether this is the right choice for you. Things to consider are your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose, i.e., don't trade forex with money you need to survive. There is considerable exposure to risk in any off-exchange foreign exchange transaction, including, but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or currency pair. Furthermore, the leveraged nature of forex trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin requirement, your position may be liquidated and you will be responsible for any resulting losses. To manage exposure, employ risk-reducing strategies such as 'stop-loss' or 'limit' orders.

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