Richard Allen

My name is Richard Allen I am a 48 year old married man with two daughters. My full time employment for the last 25 years has been as a PGA Golf Professional, I started my career as a golf club professional but the last 8 years have seen me take up a coaching role at a driving range.

I was introduced to trading in April 2022 by someone promoting a signals group. To which I signed up but quickly realised it wasn’t working but my interest in trading had been stirred and I’ve been educating myself ever since.

My trading plan has evolved over time, but now I believe I have refined it enough to be a consistent trader. My strategy simply revolves around the fib retracement zones using previous structure S+R areas and also Psychological numbers. I have a simple plan of checking my chosen pairs first thing in the morning where I look for potential set ups and set alerts where necessary and then if the alert is triggered I will monitor for the relevant entry.

I can’t really say how many accounts I have blown over the years as the amount would be embarrassing and I genuinely don’t know.

Throughout my learning journey I have experienced many many different challenges which I believe everyone needs to experience if they are to become successful. The main one I would say though would be revenge trading.

My risk management is fairly simple. I will risk 0.5% per trade and then maybe 1% when my account is in nice profit.

The biggest key point in my trading career was making the switch from lower time frame trading to trading on the higher timeframes. I now take entries from the 30 minute or 1 hour time frame rather than 1-5 minute.

Persistence and the desire to succeed and finish what I started is the key to me being a more consistent trader.

As above, my desire not to fail at something has been the main edge that has allowed me to become a more profitable trader, and also my patience as a golf coach has played a part too.

Trading with Traderscale and the simple rules that they have is far better than trading your own funds as I now have $400,000 worth of trading capital, which managed correctly could potentially be life changing.

I have been with Traderscale now for just a little over 1 year and would love the relationship to continue for years to come.

My best advice to anyone who is starting out with Traderscale, would be to make sure that you know your rules inside and out, because what I have experienced is that if you do and become profitable you will have no problem getting your payouts.