In the interests of all things trading we are really pleased to be able to interview a genuine, professional Forex trader!
We say genuine because he is one of the few FX traders that has actually traded at an institutional level, and proven it with verified trading results, year in year out, he also one of the few successful traders to make his style of trading accessible to new traders within the retail market.
So let’s start with a little bit back ground and then get to the interview we conducted with him via email recently.
Jarratt Davis has been trading since 2006 and trading professionally since 2008, which means that within two years he had grasped the basic concepts of trading and used them to make his full time living.
Since that time he has traded for several hedge funds, including his own private managed accounts business ran through Smile Global management, which is an FSA regulated company based in the city of London.
After trading institutional accounts for almost 5 years, and having all of those results verified he was ranked by the Barclays currency traders index as the 2nd highest performing currency trader in the world for that period!…. Not bad.
So, where did he come from and what are his plans for the future?
US: Jarratt thanks very much for agreeing to the interview, we are very excited to get an insight into your world today!
JD: No worries, it’s cool to be doing this
US: So let’s get started first of all with some back ground information of what you did before you were a trader?
JD: Well basically I always wanted to work for myself and after I left college I decided to set up a cleaning business so that I could run it myself and start with little or no experience in anything. This went really well, and I grew it to quite a substantial size within a few years, but I had a real urge to travel the world and live in other countries, and although it was my own business I still felt tied down. That is when I started looking for something online that could give me a good income but also the freedom to live how I wanted.
I tried almost everything you could imagine, and got ripped off and scammed in every possible way!
Then, just as I was about to give up and just sell my business and go backpacking anyway, I was on a currency conversion website and saw a little advert pop up for Forex trading, and was instantly intrigued. And that was the start of my trading adventure.
US: That’s so cool, so you were completely self taught in the arts of Forex trading?
JD: Well pretty much yes, by self taught I mean that most of my education was from what you would typically call ‘retail’ sources, such as websites and forums, most of which anyone who trades Forex has probably heard of.
I never really paid for tuition, although I did buy a couple of courses but I never spent large amounts of money on it. Almost all of the concepts I use now are completely my own, developed through good old fashioned chart time.
US: So how did it feel to be ranked 2nd best performing FX trader in the world?
JD: It felt good, obviously there are a few caveats such as it is only in comparison to traders managing less than $10 million, and it only included traders that were reporting and verifying their results, but im still happy none the less!
It really annoys me when I see all those so called ‘guru’s claiming that they are brilliant traders but do not back it up with anything whatsoever, more so the ones that charge thousands. I have always believed that for anyone to be able to charge money for any kind of trading courses then they should have at least mastered it at the highest level themselves.
US: So if you are so good why are you only trading less than $10 million?
JD: My initial goal with trading wasn’t to become disgustingly rich and own islands and yachts; it was to have enough money so that I could travel the world and do whatever I want. Having expensive clothes and cars and toys and visiting faraway places several times a year is plenty for me!
To understand my view you’d probably have to have a better insight into the industry but basically in order for me to get uber rich I’d have to trade large pension fund type accounts and work from a fixed office in the city with all the added pressure of regulatory compliance and staff etc…
No serious institutional fund manager is going to place £25million of their capital with a guy that trades off a laptop from the beach; it’s just not how it works.
Therefore to attain that level of trading I’d have to embrace the lifestyle I have spent my entire adult life avoiding!
The fact is that trading can give you whatever you want so fair enough if you want the big city office and the 100 hour work weeks to go with it, but im happy in the niche I’ve built for myself and the freedom it brings.
Trading so far has given me two priceless things, a big enough personal trading account to live off and a reputation as one of the best in the industry … these two things combined will continue to make me lots of money whilst still allowing me lots of time to play, so my plan is to keep building those two things up as far as they can go.
US: Sounds good to us! Thanks to Jarratt for taking the time out of his busy schedule to answer our questions and give us a deeper insight into his background!