How did you start your adventure with trading?
For several years I ran an export and import company. This involved frequent currency exchanges. Then I noticed that by hitting a favorable exchange rate, the company was able to earn even a little bit more than if it were to rely on the current rate proposed by the bank.
This was the initial impulse that made me start analyzing the exchange rates of the currencies I was interested in. From there on it was relatively a small step towards learning about the Forex and how the banks operate. Now speculating on CFDs, the leverage offered by the broker allows you to risk less capital than when using the capital of a trading company.
The first instruments you bought were…?
In 1991, I was buying shares on the Warsaw Stock Exchange. Those were interesting times, trading took place twice a week, several companies were listed, and the rates changed by 10% from session to session ... Eh ... who bothered? Interestingly, the last shares from that period (Elektrim) were sold less than a year ago.
Would you enter the market a second time?
Definitely, especially now that I have learned so much about markets and their mechanisms.
What would you advise novice investors who are just starting their adventure with financial markets? Should they choose Forex?
Yes, under the condition that they are aware of the fact that Forex and contract for differences (CFDs) are a zero-sum market. Meaning that if someone profits it’s always on behalf of someone who loses. And, especially in the beginning, you need to come to terms with the fact that it’s not always you who profits. There is also no short way to success - everyone must go through an extensive education process on a demo account and only after being successful there, he can start risking real capital on a real account.
How long have you been trading on the real account?
I’ve been trading Forex since 2010.
Do you remember your worst and best trade?
Yes, I remember that my worst trading experience was losing on USDJPY in 2015 and my best was trading gold in 2016.
Do you consider yourself a professional trader? If so, why?
Since I have a few other jobs a more fitting definition, rather than professional trader, would be - an experienced trader. The path to effectivity is a combination of experience and education. That means that even the best theoretical foundation will not help you when practice and experience are lacking. And the experience is thousands of hours with charts, losses, wins, zeroed accounts.
What is your standard day like?
In order to be successful throughout the day, a good night’s sleep is absolutely essential. That’s why I try to sleep at least 7-8 hours a night. Breakfast is usually followed by browsing through the market-related news, economic calendar, and going through charts looking for candlestick patterns that meet the requirements of my strategy.
In case I find an interesting setup I continue with opening order and if it’s a particularly good one I share it on social networks (I have my own group on FB, multiple channels on Telegram, and private thread on ForexFactory). However, I try not to spend too much time in front of the computer, be that as it may, it still takes up to 5-6 hours a day
I close my trading day in the evening as the US session ends. After that, I review the daily and H4 charts in terms of my strategy assumptions and check whether if it’s worth it watching the next day.
Are you trading alone or are you part of some trading community where you exchange ideas and share experiences?
I trade on my own, strictly adhering to the rules of my strategy. With that said I also participate in discussions on trading forums or Facebook thematic groups. However, I try not to follow anyone’s opinions.
Your strategy - DD2021PT - is available in the Purple Zone where users can connect to it. Tell us more about the strategy, what it is all about and what the results are.
The DD2021PT (Dariusz Dargo 2021 Purple Trading) strategy is designed to have a low decline (DrawDown) and potential profitability of about 5-10 % per month. It is built on my own three strategies Price Action + MACD, EMA 144 and Range Bar Scalping. I will just add that this account has been running for 8 weeks and in March I closed at + 7.5% and April at + 13.5%. The retraction did not exceed 11%.
What will the future of forex and broad trading look like in your opinion (regulations, market volatility, trading robots, ...)?
It goes without saying that technological progress will undoubtedly have an impact on trading. Access to financial markets is nowadays increasingly easier which can lead to a massive influx of new investors in the future. And more investors on market often translate to increased volatility.
Also, the use of automated trading systems can be to blame for increased difficulty in analyzing the markets. Trends are shorter plus the effect the covid-19 pandemic had on the global economy obscures the actual picture of the state of the economies of individual countries. This all often leads to misinterpretation of published macroeconomic which can end up by wrong investment decisions being made. Trading will get harder and harder.
Leaving trading aside, what do you do in your spare time?
I believe that in order to have an efficient mind, one has to have an efficient body too. That’s why I have been practicing competitive sports for many years now. Recently I have taken up also swimming and cycling which are now my favorite leisure activities.
Actions, not words
A frequent accusation against trainers is the lack of transparency and hiding the results. The transactions that Dariusz Dargo will conclude during the Trading Room series will be documented through the profile on the myfxbook.com portal. So far, in just over two months, the shared account has generated over 20% profit with a maximum decline of 6.63%.