Joel Kruger stands as a real-life example that daring to leave a stable job can lead to success as a full-time trader. What's his story? In the trading world, every trader has a different story and experience. However, the determining factor is the end result: whether they can sustain and succeed, or go bankrupt due to a lack of mental resilience. One notable figure in the trading world worth emulating is Joel Kruger, a former private bank employee who decided to become a full-time trader and has since thrived. What's his journey like?
Who is Joel Kruger?
Joel Kruger is a professional full-time trader, analyst, and consultant from Israel. With over 14 years of experience in trading, he has successfully delved into various markets, including forex, stocks, crypto, and NFTs. As reported from a podcast on the Chat With Traders YouTube channel, Joel initially was a Law graduate who found himself unemployed. He went through tough times after graduating and entering the workforce. Being jobless, he tried every means to secure a job and eventually got accepted at a private bank as an intern in the Debt Capital Markets department.
Introduction to the Forex World
After several years of working, Joel experienced immense boredom and sought new challenges. He communicated with his colleagues in other departments and found an interest in the Trading Market department. For Joel, the forex market was intriguing due to its measured movements, large trading volume, and unlimited profit potential. He successfully convinced his superiors to transfer him to the forex department, where he began to diligently study trading.
Why Did Joel Decide to Become a Full-Time Trader?
After several years of working in the Trading Market department, Joel decided to leave his position at the bank and focus on developing his career as a full-time trader. He saw tremendous potential in the forex market and believed that if he could follow the market rhythm, significant profits were highly possible. However, he realized that trading with his own capital was much more difficult and mentally draining, especially when facing losses. The early days of being a full-time trader with his own capital were often marked by losses.
Finding Success in Forex Trading
Despite facing many failures initially, Joel did not give up. He believed that failure was an essential part of the learning process. He was committed to improving his trading performance by delving into technical analysis, paying attention to fundamental news, and getting to know himself well. For him, every trader has their own trading style, and by recognizing oneself, it is easier to find the right trading style. Joel took at least 6 years to find a suitable trading style and achieve consistent profits.
Joel Kruger's Trading Strategy
After trying various strategies, Joel found the trading style that suited him best, namely a counter-trend strategy with a technical and fundamental approach. He analyzed the market with larger time frames such as Monthly, Weekly, Daily, and Hourly. He did not use time frames smaller than 1-hour as a basis for entry because there was too much price noise. Joel also used the RSI indicator to detect overbought and oversold conditions, as well as the Stochastic indicator to detect divergence.
Lessons from Joel Kruger's Story
From Joel Kruger's experience, there are many important lessons that can be learned by beginner traders, including:
1. Dare to Step Out of Your Comfort ZoneJoel's decision to resign from his company was an extreme and daring step. However, this decision led him to success as a full-time trader.
Without a strong mindset, Joel might have faced difficulties in overcoming initial losses.
An important aspect often overlooked by traders is exploring potential and recognizing oneself. Recognizing oneself makes it easier to find the right trading style.
Joel believes that both technical and fundamental analysis are equally important and cannot be separated. He always uses both analyses to read the market.
There is no instant path to achieving dreams. Joel took 6 years to achieve consistent profits. The urge to give up surely exists, but the most important thing is to persevere and keep learning.
Joel Kruger's story proves that with courage, perseverance, and mental preparedness, one can succeed as a full-time trader.
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