Forex makes up one of the most liquid markets in the world. Its very existence enables trade and transactions across borders. Large banks and institutions constantly move money from excess to need.
Within this giant landscape, retail traders try to stake their claim. Forex trading grew in popularity as the digital age expanded. And with that rise came a whole new set of traders. Today’s traders leverage automated systems to gain flexibility. They’re no longer tied to the computer screens.
Etienne illustrates this new wave of traders. At the young age of 25, he’s already become a successful trader in his own right. Though he enjoys world travel, he diligently checks his trading. Trading is a business that enables his lifestyle.
We sat down with Etienne for an interview to discuss Forex.
A Background of Traveling and Trading
Etienne calls Montreal, Canada his home. Back in 2013, Forex piqued his interest. He began learning all he could. Over several years he honed his skills. By the end of the decade, Etienne developed a robust strategy that consistently generated income.
During his development, Etienne saw an opportunity to incorporate programming. The flexibility and speed offered by computers was rather appealing. In 2018 he began working to program trade alerts. This is a common first step among traders learning to program.
Today his strategy runs entirely on its own, allowing him to be away from his desk.
Life on the Road
Trading must be treated like a business. According to Etienne, too many traders fall in love with traveling and shirk their responsibilities. They quickly find themselves broke and back home.
Every day he spends at least one hour looking at the charts. This gives him a sense of the markets, as well as his strategy’s performance. He regularly checks in on his trading system, sometimes multiple times per day, to ensure quality performance. On Sundays he spends several hours reviewing charts for the upcoming week.
While he has learned to code himself, he has professional programmers he leans on as needed. Algo trading helped him execute more quality trades while traveling. He noticed he’d miss trades when there was a lack of Wi-fi. Traveling on planes presented a constant headache.
His initial attempts at coding notified him of signals. While this cut down the time he spent analyzing charts, he still placed trades manually.
From there he branched out into fully programmed systems. He was initially intrigued by a trader he met in Germany. The trader successfully traded using only his mobile device. Etienne liked the idea of the flexibility of mobile. However, he realized how many setups he missed because he was completely without coverage.
We asked him whether the system ever took trades in error. He noted that the system was more likely to miss trades, rather than take them erroneously.
A Traveling and Trading Strategy
There are hundreds of Forex pairs to trade, and he tried many of them. Etienne shortened the list of pairs he trades to 15. His strategy has worked best with the US Dollar / Singapore Dollar.
Typically he works with swing trades, incorporating Bollinger Bands, support and resistance levels, and reversals. He evaluates the trades on Sunday, making sure they executed with the strategy.
His entire system works through an online server. This lets him or the programmer work from anywhere and doesn’t tie him to one location.
Etienne expanded his work to YouTube. Every week you can catch his videos where he helps retail traders learn the ropes. He credits this to how he learned to trade.
Following good traders became his key to success. Knowing its importance, he wanted to educate others. He wants to begin spending more time teaching and helping retail traders learn the Forex markets.
While traveling, Etienne will take the opportunity to do meetups. He gets to meet with traders more individually to discuss trading. Eventually he’d like to do more speaking and lecture engagements. Part of this comes from his participation in the ‘Toastmasters’ public speaking club. He uses the group to meet friends in many of the cities he travels to.
You can check out his current site here.
Forex Industry Outlook
One interesting item Etienne noted – only recently were Forex traders able to manage multiple accounts from a single platform and secure external financing. While it may seem simple, it took years before this became widely available in the market. Initially, he worked with clients through a contract to trade. Now, the ease of platform use makes this so much easier.
We discussed the corruption cases that plagued the Forex industry. Obviously…he wasn’t a fan. It really hurt an industry that had a good reputation overall. He’s enjoyed meeting people like Forest Park FX and Scandinavian Capital Markets specifically because the companies work to change minds. They’re leveraging cultural transparency and trust as fundamental components rather than secondary thoughts.
For Newer Traveling Traders
Starting as a Forex trader – you have to be able to have a goal of what to do with trading (do you want to travel?). You then need to create a plan to get you there. This includes specific milestones with tangible accomplishments and times. Etienne started with a trader meetup in Montreal. This led to a podcast. He met other traveling traders that way over 3 years (including Forex Park FX), where he found some of the best Forex traders.
He notes the barriers to entry into Forex trading are extremely low. That’s great to get people started. But, it also lets them start completely unprepared. They end up with unscrupulous brokers that take advantage of them. Etienne recommends new traders do extensive research before choosing a broker.