My Trading Bio And Who I Trade With
Hello, my name is Simit Patel. I’m the founder of InformedTrades, and the community’s Central Banker responsible for managing the value of InformedPoints, our community currency, and other matters pertaining to moderation policy and site functionality. This page is meant to serve as an introduction to myself and my trading style.
Here is a short video in which I describe my role at InformedTrades -- to create the best possible online learning environment (our mission).
Trading Bio
After graduating from New York University with a degree in Finance in 2002, I secured employment at Forex Capital Markets (FXCM), which helped me considerably in terms of learning about currency trading and about developing online communities. I started trading forex with real money in 2005. I left FXCM to start my own business focusing on online education -- InformedTrades was launched in November of 2007 to serve as a prototype in this venture. In 2008 I began to focus more so on trading gold, and in spending the majority of time studying economics and relevant political factors as opposed to technical analysis. In 2010, I worked on integrating an active trading component to my methodology, and on adopting a fully global approach to trading that included trading CFDs.
My Wealth Allocation Strategy
The bulk of my wealth (over 50%) is in precious metals stored with Bullion Vault.
About 15% of my wealth is in physical gold and silver in my possession.
Approximately 15% of my wealth is in US dollars in banks.
Another 10% is actively traded; 5% is used for trading off the daily and weekly charts, and 5% is used for trading off the 15 minute and hourly charts. I have accounts with Forex Capital Markets and InstaForex. My InstaForex account is a fund open for public investment.
The last 5% is in stocks -- primarily gold and uranium mining shares. This is something I have just begun to slowly accumulate over time (starting in April of 2011). Since this is only a small portion of my overall portfolio, I use ShareBuilder’s Automatic Investing Program to manage this process.
How I Learned to Trade
Being an employee at Forex Capital Markets was an extremely valuable part of my path to being a trader. I spoke with thousands of traders, and market analysts, and got to watch the market daily for years.
I also read many books. Here are the ones I recommend.
And of course, participating here at InformedTrades and spending countless hours immersed in InformedTrades University has helped me cotinue to grow as a trader. The act of writing my thoughts, getting feedback from others, and participating in a community of traders has been priceless. Specifically, it’s helped me think clearly about the markets, which in turn gives me the confidence I need to execute my strategy with discipline and poise.
Here is a short video in which I describe my role at InformedTrades -- to create the best possible online learning environment (our mission).
Trading Bio
After graduating from New York University with a degree in Finance in 2002, I secured employment at Forex Capital Markets (FXCM), which helped me considerably in terms of learning about currency trading and about developing online communities. I started trading forex with real money in 2005. I left FXCM to start my own business focusing on online education -- InformedTrades was launched in November of 2007 to serve as a prototype in this venture. In 2008 I began to focus more so on trading gold, and in spending the majority of time studying economics and relevant political factors as opposed to technical analysis. In 2010, I worked on integrating an active trading component to my methodology, and on adopting a fully global approach to trading that included trading CFDs.
My Wealth Allocation Strategy
The bulk of my wealth (over 50%) is in precious metals stored with Bullion Vault.
About 15% of my wealth is in physical gold and silver in my possession.
Approximately 15% of my wealth is in US dollars in banks.
Another 10% is actively traded; 5% is used for trading off the daily and weekly charts, and 5% is used for trading off the 15 minute and hourly charts. I have accounts with Forex Capital Markets and InstaForex. My InstaForex account is a fund open for public investment.
The last 5% is in stocks -- primarily gold and uranium mining shares. This is something I have just begun to slowly accumulate over time (starting in April of 2011). Since this is only a small portion of my overall portfolio, I use ShareBuilder’s Automatic Investing Program to manage this process.
How I Learned to Trade
Being an employee at Forex Capital Markets was an extremely valuable part of my path to being a trader. I spoke with thousands of traders, and market analysts, and got to watch the market daily for years.
I also read many books. Here are the ones I recommend.
And of course, participating here at InformedTrades and spending countless hours immersed in InformedTrades University has helped me cotinue to grow as a trader. The act of writing my thoughts, getting feedback from others, and participating in a community of traders has been priceless. Specifically, it’s helped me think clearly about the markets, which in turn gives me the confidence I need to execute my strategy with discipline and poise.
