Currencies Trading with Pip Czar, Blake Morrow, Ep #136
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Blake Morrow, the CEO and co-founder of ForexAnalytix, has over 20 years of trading experience and has been a co-owner of a Dallas-based brokerage firm and LiquidTrader Technologies. He spent over 14 years hosting a popular Forex and trading online show, “The Morning EDGE”, where he spent his day trading with and teaching other traders to navigate through the markets. Blake is a seasoned individual investor in both equities and Forex. He is a husband, father, avid golf hacker, and a proud Marine Infantryman (3rd Battalion 9th Marines, 1990-1994). In this episode of How To Trade It), Blake discusses volatility and the importance of good risk management. You don’t want to miss it!

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You’ll want to hear this episode, if you are interested in…

• [06:20] Fractionals
• [16:47] Size matters
• [31:05] The problem with social media
• [39:30] Weekly strategy
• [41:32] It’s like playing chess

The break that jump started my trading careerBy the mid ‘90s, I found myself living off of my savings and existing on Ramen and PB&Js. Not really a great place to be. At some point, my buddy and I each got $50,000 from an investor, which I quickly took down to $20,000, in about six months. Then one day, it was as if I hit the lottery. I found a stock that was trading at around $8, and it quickly went to $120.  I had some big positions and FINALLY made some money. Fractional shares saved me!  They were everywhere, and they made scalping a lot easier.  Risk ManagementLike many traders, when I first started, I only cared about the profits. I wasn’t concerned with managing risk, and I definitely didn’t have a plan in place to deal with it. With 20+ years of experience, now the FIRST thing I want to know is where my risk is. Since I’m managing a community of traders, and not just myself, I try to keep risk management at the forefront of everyone’s mind.  You have to essentially start backwards. Before even taking a trade, you need to ask yourself how much you are willing to risk. 

 Resources & P

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