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Interview

Interview with Rafal Glinicki - founder of VSA TRADER

Hello, Rafal! First, let us go back to the times when you were first introduced to trading. How did it happen and what was your starting point for the future success?

— Everything started in late 90’. It was the first time when I heard and get interested in financial markets. First time indirectly, I was interested in invest founds a bit later I started to invest in stocks at Warsaw Stock Exchange but I treated that as a hobby. I really got Interested in financial markets, when has appeared the possibility to trade FOREX. From that time I checked really many methods and strategies just to learn, that they do not work – by the occasion I lost much money testing all that stuff. I thought that there has to be someone who earn money at the market. I started looking for those people, it was not easy but I found them. Learning from them was not cheap, but at last I stopped to lose my money and I started to earn. Someone could say: But everything is written in books. Yes that is true, but in the same time your mentor could say to you: Take this book, it is 2000 pages long, read only page number 73, 895 and 1678, other things are not useful. If you will find your mentor you will save your time. Good teachers are not enough – you need also patience and you has to be ready to sacrifice your time for learning – hundreds of hours. If I frightened someone, sorry but this is reality. This more or less how was by path to become a trader.

Rafal, which type of analysis is preferable to you – technical or fundamental? And what would be your opinion on applying exclusively one of them in trade?

— Well, both approaches are well known by traders. I Personally choose technical analysis, because I trade intraday, in small timeframes (3, 5, 15 minutes). Only technical analysis let me control my positions. Of course technical analysis has hundreds of tools, I personally use only Elliott Waves, Price Geometry and VSA – I do not need anything else. My live rule is to make all the things more simple not harder. Sometimes I watch the news in the internet, this is the only moment when I “use” fundamentals, but the only reason for that is, that I want to know, what most of people thing.

Who would you call your mentor? Was there such a figure in your life in terms of trading or you can proudly say you achieved it all by yourself?

— On my path, I met several interesting people, taught me something about trading. All those thingh was more or less important. I have checked all of them on myself – that took much time. If I had to choose one of them, that would be Tom Williams – the inventor of “Volume Spread Analysis”. His teachings had and still have great influence on my trading.

Does a trader need a certain system to refer to or trading can be profitable without a strategy? Do you have such trading system you use yourself?

— I do not use any system. In my opinion everyone must have strategy as I do. By strategy I mean knowledge about “market mechanics”. If you understand what market is all about your are going to be successful.

Rafal, you are a well-known professional VSA-trader. What are the advantages of this approach?

— As I said before, VSA gives me an advantage because it shows me the imbalance between supply and demand, so I can trade with “SMART MONEY”, not against them. Supply and Demand – this is only thing that moves the prices in the market. VSA explains how to recognize what (supply or demand) is present in the market. This will tell you, which position you should look for: short or long. When there is a large supply you should go short and if there is demand you should try to find long position.

Rafal, which financial market do you mostly trade on, stocks, currencies or commodities?

— I usually trade on currencies and commodities. My favorite market are main currency pairs and gold. I do not really like stocks, because everything there takes too much time to me.

What are the key elements to the psychology of trading? Does experience serve as much help in achieving better results?

— Psychology is a very important factor, which is very often forgotten by many teachers. If you want to be a trader, you have to answer one question - What type of trader I am? When you find out your advantages and especially your disadvantages, you can work with them and finally become better trader. Experience always give us edge in every business also in trading. We can base on our past experiences to avoid future makes.

What would be your estimate of dollar and gold perspectives for the nearest 6 months?

— Well, I do not trade in so long perspective, so I do not know where the particular instruments are heading. I’m interested only in intraday time frames, which gives me better control over the risk.

Rafal, how long does it usually take for a trader to reach the point of a regular stable income?

— It depend on trader. For one trader it will take 1 year, for other it will be 3 years and unfortunately, for some traders it will never happen. First and most important thing is to find a mentor, who understand the market and of course earn money trading in the market. If you would like to study some technique, first check your teacher – Is he really earning in the market or only on courses, that he organize.

As we know, you professionally teach trading. What qualities are required from your students?

— I am looking for people who really want to achieve something on financial market. Only one thing is required - open mind, because mind is like parachute – works best when it is open. If you are able to defeat your bad habits combined with trading, and you are not so stubborn, you are able to learn from me.

In your opinion, what kind of analysis does the future belong to – financial, technical, fundamental or intuitive?

— Well, there are so many strategies and approaches. I think future will develop some new ideas about trading but for me nothing will change, because the only one thing which works is market mechanics. If you understand language of the chart you will never want to try something else. Market mechanics works for hundreds of years and will work in the future.

Rafal, which trend has proved to be more profitable to you: bearish or bullish? Or maybe, you are equally good at both long and short positions?

— The direction of market is not important, when situation is clear. There are the same rules in both directions ( up and down). I make money with bulls and bears. If I short gold on Monday it doesn’t mean that on Tuesday I will not look for long position. Market decides in which direction you should trade – your job is to learn how to read the chart correctly. When you treat trading like business you have to take every single opportunity to make good trade. You have to adapt to market condition – the market will not adapt to you.

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