Traders and psychology with Joe Adjei

Joe trader is Joshua Adjei. He is born December 22nd, 1993 in Ghana. Joe’s a forex trader and a graduate of the University of Ghana. “I read psychology and information studies”. Joe adds.. [Muttering] “My trading journey started after school. I have been in the industry for 6 years now and have been consistent for 3 years—A friend ( introduced by, kojoforex and we actually studied together. But, he guided me more) taught me forex. When I trade, I mostly work with high probability zones so: I maximize on direction biases.

In addition, I utilize my lot size by adding to positions in pullbacks because.. I always split my lot sizes. [Joe continues] My trade account is a little above half a million in total. There’s this one time [chuckles] I lost like 14k dollars in a single position and made 42k in a single trading day.

Asides trading, I’m more about acquiring properties lands and buildings. That’s where my money really is”.. 

Joe Trader Talks Trading And Management

What is your trading plan? And what is your go-to asset class (what pair(s) would you consider are your favorites) and why do you prefer these pairs?

I trade with high probability zones and as a swing trader, I use an SL of 25-50 pips. If it more than that, I reduce my lot size. Plus I trade all pairs.

Fast one Technical, Fundamental, or Sentiments? Why?

Technical over everything because all available information is presented in real-time price action.

What’s your take on Neophytes that want to learn forex? Do you prefer they paid for the knowledge or stick with YouTube videos and free materials.

Associating with a mentor is best.

Drop a forex secret you feel should be shared and no-one talks about.

Lol, a secret is a secret. But, my secret parable is; ‘When the blood drips monster claws prevail’

Adjei On Trading Strengths

Wonder what that means? What is your go-to strategy? I would also love that you explain why that is your go-to. Do you have a major reason why you chose that strategy and how it has helped shape your trading.

My go-to strategy is the “blue magic strategy” because it gives an 80 to 99 profitability of wins. I created it..

What does blue magic strategy mean. Does it have a meaning?

Blue magic strategy is a strategy that keeps you blue on the market.

Haha, okay. What are your trading aspirations? I know many trade for “financial freedom” but what happens when that’s achieved? What do you plan on doing with trading?

My friends and I plan on building a hedge fund. So, I would say take trading to even the next level.

A hedge fund that’s great. For a specific country (Ghana) or worldwide?

Actually we’re thinking, Sub-Saharan-Africa.

What would say is your “win-rate” and what really drives results in your trading?

My win rate is 8 to 9 out of 10. Because I trade with patience I guess.

Joe Speaks On His Trading Inspirations

What was your salary in your last job before forex? Was leaving it for forex worth it and why?

Well, I used to work as a volunteer. So, basically had no salary and was living off my own side hustle. Like e-commerce. Then, I came into forex because I started to get hungry for more online money.

Tell me about a time you disagreed with a decision. A time you didn’t follow your trading plan. What did you do?”

When I don’t follow my plan, I always lose money. And when I lose money—I get some ice cream lol. 

Funny, I mean it kind of does the trick. Tell me about the toughest decision you had to make in the last six months. Was it a trading decision? If yes, tell me how you handled the situation.

The toughest decision was, probably, deciding on the lot size for my high probability set up on gold in March. I ended up using a small lot size but my bias moved greatly in my favor.

Ouch, that’s actually more painful.. Who is one person/academy you think Neophyte or everyone should follow and why?

You can learn from anyone you are comfortable with and you know very well that he/she understands trading. As the Bible says, “..by their fruits you shall know them”.

The Business Of Trading

You seem to love your bible quotes. Anyway, this may sound “cliche” but why forex? What is your major reason for choosing forex?

Forex, because I was looking for the opportunity to have financial freedom. And that’s what I got my hands on through a friend’s recommendation.

We all talk about trading psychology, what can you say about that?

Very important, It’s the 90% rule, because at the end of the day it’s all psychological. 

When you say 90% rule what does that actually mean?

It means you need a strong mindset to make it on the market. Since it involves emotions and hard-earned money.

Still on psychology, What keeps you sane? Cos’ I won’t lie trading can stress you out and some even get depressed. So how do you overcome this?

I take it as a learning process. The only reason I’m not burnt out. Everything win or loss is a learning process.

What are your trading rituals and how has it helped your trading?

Observation is my ritual. Always keep calm and observe the market.

What are the three traits you have that keep you successful? And what three traits do you hope to have in trading that would make you a consistent trader?

Patience, patience, patience. Patience is everything.

You heard the man. Stay patient! Tell me how you think other people would describe you. What do you want to be remembered for in the industry?

People appreciate me for my unique style of trading. And I just want to impact lot more people with my strategy and style of trading.

Final Words From Joe

Do you keep a journal? If yes, what does it consist of?

Consist of trades I take and reasons for them.

We have the Neophytes now in the industry. In fact more Neophytes are trooping in. What’s your advice to them and what would you recommend they start with?

Start by appreciating its journey and love every bit of it.

Yes Joe, Most fail to appreciate the process.. Have you ever tried quitting? If yes, what did you do about it?

Yes, I have but realized it wasn’t the best—knowing very well I could see the light at the end of the tunnel.


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Check out previous chats: JohannaWaidi, JeffreyEnoch Baz,Veetaedo

Cheers,

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