Stefan Stagge

Introduction - Swedish Forex Group mentor!

We at the Swedish Forex Group are lucky enough to work with a mentor by our side named Stefan Stagge.

Trading in financial markets is a complex and sometimes risky business that attracts investors and speculators worldwide. To navigate this challenging world and maximise the chances of success, it is often a wise strategy to have an experienced mentor or coach by your side. A trading mentor or coach is an individual with expertise and experience in trading who plays a crucial role in guiding and educating you in the art of trading.

This mentoring can come in many forms and styles, but its main purpose is to help develop the necessary skills, strategies and psychological tools required to become a successful trader.

We have asked Stefan to introduce himself in more detail below:

Born: Magdeburg (Germany) 1981

Training: Qualified biologist

Job: Research engineer at the Department of Chemistry at Umeå University in forest industry related research; we work to understand and improve processes that break down trees, non-edible material from agriculture etc. with the aim of producing valuable chemicals as starting materials for the chemical industry. A well-known example is bioethanol from spruce and pine. Other uses include dietary supplements such as antioxidants.

What do I do at my job: Analytical chemistry using mostly chromatography and mass spectrometry, looking for chemical compounds and determining their concentrations in different samples. Helping colleagues make progress on their projects.

How did I get in touch with trading?
I started in 2020 after the Covid outbreak, for the reason that the market had crashed completely. That's when I decided to invest the money I had inherited from my mother, who unfortunately passed away in 2018. Before that, the idea of investing had been around for a long time, but I didn't have the time or the money.

In the beginning, I traded stocks and had a few funds and I mostly learned about fundamental trading, i.e. analysing companies based on their business model, financial performance and also taking into account analysts' opinions. Using news channels, I tried to keep myself updated.

However, I quickly realised that fundamental analysis is not my thing as you are often relatively late when news is released and you try to chase a moving train. Through channels such as Youtube, but also other sites that showed a mix of fundamental data and chart analysis, I became interested in technical analysis.

On YouTube, I noticed an analytics company from Germany looking at stocks, commodities and more using Elliott's wave analysis and was fascinated by how well it worked. I've always been a person who likes patterns based on rules. The idea of not having to read news or annual reports was very appealing and that important events could be seen on the chart before they happened based solely on the movement of the price.

At the turn of 2020/2021, I first heard about automated forex trading and that you can get brilliant results without having to do anything yourself. Like many others in our community, I became a customer of Auvoria prime and tested Neo the legend and two other products. That was the start of me becoming a forex trader. Neo didn't quite work out the way I had planned and I quickly started taking my own trades with inspiration from sources like Youtube.

In September 2021, I really started my journey to become a proficient trader in forex trading. At first, I tried to learn the Hunt volatility funnel method from The Marketsniper, a friend of mine who was a member of the education group. The Marketsniper is a profile on YouTube that showcases his approach to technical analysis. I tried to understand this method and trade using it but his program is very comprehensive and I realised that it would take too much time and it was also very expensive to join (100K SEK). Still today I like to look at his posts and take inspiration and I managed with his tips to take home some really nice profits as he is very skilled and also very knowledgeable about macroeconomic contexts.

Limited access to training material, which was so extensive that it would have taken me years to go through without becoming a member myself, was the reason I started looking for analysis of currencies using Elliott's wave theory.

Again on Youtube, I spotted my current mentor "FXpip collector" who shared lots of analyses for forex trading on a daily basis, completely free of charge. After a few weeks I decided to join his group and I still am today, almost 2 years later. Elliott's wave theory is very comprehensive but I was so fascinated by the potential that I went all-in and bought books, attended 2-3 seminars every week and still spend many hours in front of the computer practicing analysing charts. In addition, I am always curious to learn more about other methods and sometimes I incorporate pieces from these into my own trading strategy.

The journey to become a forex trader is not an easy one and I have had many setbacks which have often made me doubt whether trading is the right thing to do to become financially independent. The latter is my motivation. The dream of being able to do what I want when I want and, for example, to see my family in Germany much more often than is currently possible. Another goal is to be able to help my family and friends when I have become really good at trading.
// Stefan

We in the Swedish Forex Group see Stefan as a highly appreciated person that we want and will see more of, especially at the information and question and answer sessions we have every two weeks!

// Svenska Forexgruppen