Samuel Leach is a 26 year old UK-based trader. He started trading Forex at the age of 18 during university and now runs a large trading business comprising of trading floors in UK, South Africa, and soon Canada.
During his university studies, he managed to turn a 2k account into 170k, using hedging as the main strategy. To this day, hedging is a big part of his trading systems.
Despite being so young Samuel worked for a private fund for a while, then started his own company and now teaches people to trade and is actively trading his own accounts. He’s a strong believer that the right mindset to trading is the key to success.
In the show Samuel shares:
- His approach to risk
- A trading system that can be used for traders who have a day job
- What traders should focus on when starting to trade
- What it eventually took for him to trade successfully
- Why a proper mindset is key to trading
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- People over complicate things and trading systems
- Make sure you understand the basics: support and resistance, trendlines and turning points
- Don’t look for the holy grail in trading
- Risk capital you can afford to lose
- Trading is all about digesting the right information
- Put in the chart time – use trial and error to back-test strategies
- Pay attention to simple price action
- There’s no point in putting yourself at risk in an environment you’re not comfortable with
- Make sure you understand the economic calendar
- Put the hard work in
- Don’t focus on the money
- Never look back, never doubt yourself
- He now trades GBPUSD and FTSE only
- Trades two systems: one fully automated and one semi-automated
- Risks around 0.5% of the trading account/trade
- Hedges a trade when a 50-pip stop loss is triggered. The hedging part is even more profitable than the initial setup
- His trading is based on volatility – this is why he trades a GBP pair
- He takes 2-3 trades/day, 10-20/week
- When things go wrong, he looks to get out with minimal damage
Samuel’s Strategy of the Week
Samuel’s Backbone Strategy includes a marked up chart from Samuel himself along with our notes from the show.
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