The life of top fx ANalyst & trader Philip Salloum
is the top FX analyst and trader for Opes Platinum and Opes trading group. He began his journey back in 2016 right at the height of the initial crypto boom. Philip graduated in medical science and radiation science, however found his passion in the financial markets soon after. We sat down with Philip and asked him a few questions on his journey in the trading world up until today.
What got you interested in FOREX and where did your story begin?
My trading journey began in 2016 when I started my first investment into the cryptocurrency market. I tripled my initial investment with the 2017 boom, however without any education or knowledge into psychology, I held on to my profits with the hope of multiplying them forever. Several months after the boom I watched my portfolio decrease until it had almost vanished. I did not allow my temporary loss to defeat me and decided to take trading a lot more seriously at that moment and learn everything about the markets and the psychology behind it. I then discovered the Forex market which at that moment I knew I had discovered my real passion. The first year was losses also but that was due to the minimal knowledge I had especially not having a mentor to guide me in the right direction.
Where do you see yourself in the next 5 years ?
Leading one of the largest financial education platforms for students from all over the world. I also see myself running and managing my own fund.
What are your strengths and weaknesses in your trading? My strengths would be my fearlessness of the charts and outcomes with maintaining the balance of risk management, also patience, and trading a selected few pairs that I have grown to really master. My weaknesses would be trying to perfect an entry and ending up missing the trade.
How many years has it been since you called yourself an expert? I would say over the last 2 years I have sharpened my skills exceptionally. Just like any other career path in life, one does not become a success and an expert overnight.
What was the hardest part of your journey in forex?
Definitely the first few years where you think you have finally understood it all until the market comes and slaps you in the face. Losing money, sleepless nights, constantly staring at charts. Theses are things that no mentor can teach you but they can only describe them to you. The emotional aspect of trading was definitely the hardest aspect to overcome. Once you do its honestly so simple.
What’s your favorite trading style?
Do you have a method that helps you overcome your losses?
Walk away and think of the bigger picture. Focus on the positives. Focusing on the negatives will only attract more of it.
How do you emotionally prep yourself before you take a trade?
The emotional prep is my day as a whole. From the moment I wake up, the exercising, meditating, reading, are all helping me psychologically for the day to come. Setting my areas of interest with alerts also helps me execute the trade without overthinking it if the price action makes sense. Emotionally prepping for trading is literally your life as a whole.
What was the best trade you have taken this year?
Best trade would definitely be a crypto one during this boom which I did a 10x on. In terms of Forex I would say one of my best was a 4:1 trade on GBPUSD literally 6 hours before the market closed for the week. It wasn’t the best trade in terms of R:R, but definitely the best in how I started my weekend.
What does a day in your life consist of ?
Its really different considering I also run the educational aspect of things so it can be different all the time. An average day would consist of waking up and exercising, meditating, reading to prepare my mind for the day to come. I would then hop on the charts just to see what has happened overnight which is the North American session for us in Sydney. I update my students on what has occurred and the potentials for the day to come, which in return allows me to plan my trading day and set my alerts for myself. I then work on the business aspect of things whether its research or teaching a student ect. The trades are taken once they reach my areas of interest and then I find myself spending time with my partner, family, or friends and letting the trades play out which is excellent so im not constantly monitoring the charts. Living in Sydney does offer a great timezone for us traders where we can trade Asia and Euro sessions and have the night to ourselves.
Why do you think opes stands out from other education platforms?
First and foremost the name OPES was selected due to its translation from latin meaning “wealth”. This word was selected as we want students to understand that trading is not a get rich quick scheme in any way and that real wealth can be built over years of hard work and dedication. Opes teaches from experience in the markets from real traders, we do not repackage theory from the internet and sell it. All members of OPES were carefully hand selected in order to bring the best of their field into one place. The knowledge taught cannot be derived from anywhere, simply becomes the knowledge comes from the members of Opes themselves.
Where do you see opes in the next 5 years?
I see Opes as one of the leading educational companies available for traders. Opes will be divided into the educational courses, also the subscription aspect. I also do see Opes diversifying into more than just metals, FX, and crypto in order to really target financial education in any field. Running a funded program for students is also a route I would really like to see, in order to help top performing students excel in life.
What do you think makes you better than your average trader out there?
I don’t think im better than anyone as everyone has their own methods and styles, however one thing that differentiates me from the rest is my passion, determination, and hunger for success. Working countless hours to perfect a strategy and a system that works doesn’t come easy. Also the strategy I have developed was discovered and developed from my own trading experiences which cannot be replicated
What advice can you give to new and upcoming forex traders?
Find a selected few pairs, master them, master one strategy, master your emotions, and risk management above all
Finally where can everyone find you?
My instagram which is @philip.salloum
or telegram @philipsalloum