Interview with Jon Levine

Could you tell us a little about yourself?

I am a full time Forex trader and Trading Mentor.  I live in the United States. Married, no children.

How did you get started trading?

After 17 years in the corporate world in IT, my company was transferring me all over the states every two years to open and manage new computer rooms.  At the same time my interest grew about the markets. Eventually I left the company to trade for myself.

How long have you been trading now?

18 years now.

What do you like best about trading?

Developing a trading system and watching that system work consistently.  The freedom that trading allows, and how trading helps you improve yourself as a trader and as a person.

What markets do you trade?

Currently Forex only. I started years ago with stocks, options, and futures.

What style of trading do you use?

I trade technicals while keeping an eye on major news events.  Mainly I watch support and resistance levels, volatility of the market, and use market patterns to enter and exit.

What have been the biggest influences on your development as a trader?

Learning about myself by analyzing all trades. You learn most from the losers. Trying to improve the emotional/mental obstacles that keep me from trading at my best.

What is the one biggest lesson that you have learnt since starting trading?

To trust yourself and your system.  Not being influenced by anyone else’s opinions.

About Your Trading Coaching

How did you get interested in coaching other traders?

At a certain time in my life I felt like I wanted to give back to the trading community.  I was seeing many Forex scams in the market.  I vowed to start a program based on integrity and honesty.

Do you focus on coaching of one particular area of trading, e.g. risk management / psychology or finding trades?

You cannot coach one area of trading and be successful. In order to be a successful trader a person has to work on it from a mental, physical, emotional, and intellectual standpoint.  That, along with a proven trading system and good money management is the basis of a Forex trading career.

How do you work together with your clients? E.g. phone / email / screen sharing?

I offer three different mentoring courses, which are three months in duration. The students learn the trading system before mentoring starts. Then I email detailed charts to them at the end of each trading day.   The charts explain in detail why a trade should or shouldn’t be taken and why per the rules. Students review his chart with theirs to determine their daily trading progress.

Within a month most students are taking the same trades as me. I also now have a live trading group that I offer run by a senior trader which is offered free of charge.

What sort of results do your clients get after coaching with you?

My goal is to teach students to be independent Forex traders.  The results they get are entirely based on how hard they want to work to be successful in this business, just like any other business. Some have become millionaires and some barely make it. It’s all based on their psychology and beliefs.

What is the most satisfying part of coaching traders?

I’ve received hundreds of comments and feedback from students thanking me for changing their lives for the better.

What is the biggest but most easily fixed mistake that you see traders make?

Not being patient and waiting for the correct setup.  Exiting trades too early or entering too late.

Do you recommend journals or other record keeping as an important part of trading?

Yes. It is important for traders to log the trades and the reason for the trade working or not. They need to know if any emotions caused them to trade wrong. They also need to know what they did right.  Each week I ask them to review their log. Once they do, they will start to see patterns in their behavior that they have not seen before. With that knowledge they can begin to improve those behaviors.

What are the most common issues that you see in your clients that prevent them from becoming better traders?

Fear and greed.  Many start out with the expectation that Forex is easy and a lottery ticket. It isn’t.  It’s a job, a business, and a skill that needs to be learned and honed over time.

General Advice

What advice would you give traders who are just starting out?

Do your homework and research many systems. Check out the vendor and their reputation. Read about experienced traders to help them realize that it is not a get rich quick game.

What 3 books do you recommend traders read?

  • “The Disciplined Trader” by Mark Douglas.  (Hardcover – 1996)
  • “ The Daily Trading Coach: 101 Lessons for Becoming Your Own Trading Psychologist” Brett N. Steenbarger (Hardcover – Mar 23, 2009)
  • “Reminiscences of a Stock Operator” by Edwin Lefevre. (A classic)