Chris Capre is a trader with more than 15 years’ experience, mainly working in price action. Interestingly, Chris is also a Buddhist, and Eastern philosophy is something that has fascinated him for many years now. Chris has had something of a bumpy road in trading. Turning $3,000 into $83,000 in just six months was impressive, so was losing $50,000 in just one month! But Chris refused to give up; his dogged determination has made him stand out from a very big crowd. This and the fact that Chris has remained humble despite his success, has certainly made him someone to look up to.
Discover how hard work and practice will set you up for success
Be patient and learn to control your emotions
Accept that you will make mistakes
Develop your own trading strategy which fits your style
Thoroughly research any online educator before using them
Christ Capre’s pathway into trading was not, perhaps, one of the most obvious. Starting by studying neuroscience and Eastern philosophy, Chris realized that he wanted to do something exciting with his life. Teaching yoga – as a way to change his life – was what he came up with, and it was during this time that he met some wealthy private clients in San Diego.
One of these clients was a retired doctor who had made millions creating specialist technology; he was taking yoga classes because, sadly, he had terminal cancer and he just wanted to feel good even if only for the short while he had left.
Chris became friends with the doctor and his family, and one day whilst at his house, the doctor gave Chris a book, stating that he had a strong intuition Chris should read it. It was a story about a man who traded currencies in Japan, and it was this that got Chris interested in currency trading.
This was in around 2001, and so there were not a lot of websites dedicated to trading. In order to learn anything, Chris had to find magazines and books that would teach him what he needed to know. It was worth the effort, though.
It was then that Chris found that he could start a free demo account. The site he did this on is no longer around, but it was an ideal way at the time for Chris Capre to get into trading without any risk. The moment Chris started, he immediately felt comfortable, even though he had never worked on a Forex platform before. He understood it immediately. Chris Capre has traded for around 40,000 hours – four times as much as the 10,000 hours standard to become an expert in anything – so he has learned many lessons along the way.
One of the most important lessons he has learned is to be fearless, or at least to manage emotions. He also says there is no end point. There are always more things to learn and more things to see in the price action. You can always get better and take it further, so he is always in a process of discovery. There are no limits.
If you want to become a really good trader it is going to take a long time. But with the right practice and the right mindset, it can be done. You must be focused, and you must be in it for the long haul, but it is definitely possible.
It may sound as though Chris Capre has everything in hand, but there have been two times in his trading career where he has been close to giving up, showing that no matter how good you are at something, sometimes doubt can still creep in. The first time was at the start of his career. Chris did not understand risk management and only used demo accounts for a month before starting live trading.
He was lucky; he had £3,000 and turned that into £83,000 in six months. This ‘beginner’s luck’ had to end somewhere, and just one month after that, he had lost £50,000. This was Chris’s first time understanding just how hard trading can be. He almost gave up then, but he has always been determined and was able to keep going.
The second time Chris Capre almost gave up was just a couple of years ago after he had moved back to the US. He had to adjust his trading model after having lived overseas for some time. Chris didn’t feel as though he was comfortable doing so for around a year; he had to make a lot of adjustments and it made him very frustrated.
At the time he had a lot of offers for people wanting to buy his business, and he could easily have sold out back then. He was tempted, that’s for sure. He could have retired. But because he didn’t want to end on a low and would rather finish on a high, he doubled down his efforts and adapted to his new trading routines. It was the best decision he ever made.
Having worked as a broker, Chris Capre has some unique insights into trading. Although the two things are very different, being a broker has definitely helped Chris develop a trading system. He met a lot of different traders, giving him an insight into what works and what doesn’t, for example. Plus, because Chris had no business experience at all, being a broker gave him the ideal chance to see trading from the inside out.
Chris Capre is a day trader, which is something that not everyone is interested in doing, since it does tie those traders down to the daily charts. For Chris, it isn’t all about day trading, however. He is also involved in swing trading, for example, and there are some stocks he is happy to keep for a year or more. He even trades options.
Yet day trading is something that truly appeals. This is because you are looking at smaller time frames, and that means you can see details and micro-opportunities. These smaller details can be the precursors to much larger moves, and this can be all-important. For Chris, this is a chance to capture an edge that others might have missed.
Whatever appeals to you and works for you in terms of the types of trades, is exactly what you should do. There are no right or wrongs, and if you prefer one element of trading more than another, that’s what you should be concentrating on. Trading is a very personal pursuit.
Chris Capre is aware that there are many educators when it comes to trading, but not everyone is as good as they could be. This is because it’s easy to create a website and set yourself up as an expert in trading, and if there is no truth to the story you’re telling, that is not something that is checked; there are barely any regulations.
If there were such regulations in place, perhaps as many as 90 percent of the websites currently offering trading advice and learning would have to shut down.
It’s crucial for everyone who wants to sign up with educators to do their research. Yes, there are some scams and it’s easy to fall foul of them, but if you make a mistake and sign up to someone who is an outright liar because you haven’t done your research, there isn’t a lot that you can do – caveat emptor.
Ask questions, find out what the real framework is, who are the other clients, what is their background? Every trading educator has a responsibility to try to avoid being flashy and to just do the work, but equally every client has the responsibility to check them out thoroughly.
Any aspiring trader should be motivated by a love of trading. Finding your niche will allow to you develop your style and hang in there when things are not going your way. Chris is a testament to this. Also doing the work yourself and not blaming others, will allow you to control your emotions, which is a key facet of trading.
Chris Capre can be found at www.2ndskiesforex.com