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Interview

Interview with Sebastian Seliga - analyst and masters in social psychology

Before trading on forex market you worked for some financial companies so you were actively involved in stock exchanges. Everybody knows that indices trading differs greatly from forex. What prompted you to change your focus of interests?

— Well, stock trading is full of regulations and limitations. Forex trading does not have these issues. Well, there are some regulations in Forex trading but it is nothing like compared to the stock market. Forex traders are free to trade whenever they want to trade, they can go in and out of the market on a whim. They can basically trade as large as they want to. In stock trading, the limits on when you can enter the trade, how you will trade, the direction you will trade and what you can say about it basically. Forex trading, on the other hand, does not have this advantages and you can use the larger leverages to trade in Forex basically. The most important advantage of the Forex trading is that it is open 24 hours a day five days a week, so it gives traders much more freedom than the stock market give them, right? So this is the most important for me, advantage for trading forex. The other one is that you can trade your own strategy, you do not rely on anybody else supervision. It is your own personal point of view on the Forex market that you can develop. It is basically kind of personal journey as well. What I mean is that every day you are trying to see your own point of view and if market confirms this or deny and you learn something about the market and then back something about yourself.

I think you start analyzing the current situation on the currency market and making forecasts of currency pairs trends bearing ancient wisdom in mind. You favorite quotation belongs to Sun Tzu, the famous Chinese military strategist, “Every battle is won before it is even fought”. Is it the secret that your expectations prove true?

— Well, I had always put an emphasis on analysis and preparation stage before even thinking of making an actual trade. For me the most important aspect of trading is money management and then, the next one is the detailed analysis of a possible future market moves. So, my approach at Elliot Wave Principle gives me this kind of an analytical edge and also the results based on the findings, on the rough Elliot and I try to use it on current market situation.

So have you ever participated in such contests as Analyst of the Year?

— No, no. This is my first time. But I am looking forward for this year edition as well.

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