James Bruce: From professional rugby player to professional trader

February 4, 2025
7:54 am

Background and Journey

We asked: Can you tell us about your journey into trading? How did you get started, and what inspired you to pursue it as a career?

James: My trading journey began in 2018 while I was playing professional rugby for the Sharks in Durban, South Africa. Unfortunately, a severe knee injury—a torn ACL—forced me to explore alternative career paths. A fellow rugby player introduced me to trading, and I was immediately captivated by the financial markets. At the same time, I was pursuing a Bachelor of Commerce degree in Finance, which deepened my interest in economics and trading. Coming from a family with a strong financial background—my father and father-in-law are both chartered accountants—I naturally gravitated toward the markets.

We asked: Did you start trading with your own capital, or did you begin with prop firms or other funding sources?

James: I started trading with my own capital and achieved my first six-figure year this way. With the financial backing of supportive family members, I was able to establish a strong foundation. Later, prop firms accelerated my progress by providing access to larger capital and additional resources.

We asked: What were some of the biggest challenges you faced when you first started trading, and how did you overcome them?

James: One of the biggest challenges was dealing with skepticism from others about whether trading was a viable career. I had to learn to silence the noise and focus on my own journey. Another significant challenge was managing the fear of losing trades, especially coming from a competitive sports background. I had to accept losses as part of the process and focus on moving forward to the next opportunity.

Trading Approach

We asked: Do you currently trade with personal capital, brokers, or prop firms? What do you prefer and why?

James: I trade with both personal capital and prop firms. I believe retail traders should utilize both to accelerate growth and gain access to larger capital.

We asked: What markets do you trade, and what timeframes do you focus on?

James: I trade stocks, crypto, indices, and currency pairs. My approach is primarily intraday swing trading, holding trades for a few hours to a couple of days.

We asked: What’s your trading style? Are you a day trader, swing trader, or scalper?

James: I’m primarily an intraday swing trader, focusing on technical analysis while incorporating some fundamentals. I rely on tools like VWAP, EMAs, and price action structures to identify high-probability setups.

We asked: How do you identify high-probability trading setups? What’s your edge in the markets?

James: I use Edgeful, a trading data platform, to refine my strategies with reports like the Previous Day’s Range Report and the Opening Candle Continuation Report. My edge comes from combining these tools with disciplined risk management and a focus on technical analysis.

Risk Management

We asked: Risk management is crucial in trading. What’s your approach to managing risk on each trade?

James: I set daily loss limits ranging from 1% to 3%, depending on the account and trading aggression. This helps prevent significant losses during losing streaks.

We asked: How do you determine your position sizing? Do you adjust it based on market conditions or the strength of the setup?

James: Position sizing is based on the strength of the setup and market conditions. I aim for an average risk-reward ratio of around 1:1, varying between 0.8 to 1.3, while maintaining a win rate consistently above 65%.

We asked: What’s your risk-to-reward ratio on average, and how important is it to your overall strategy?

James: My average risk-reward ratio is 1:1, and it’s a cornerstone of my strategy. It helps me avoid tilt days and sustain profitability over the long term.

Mindset and Psychology

We asked: Trading can be emotionally challenging. How do you maintain discipline and avoid emotional decision-making?

James: I focus on higher timeframes to reduce emotional stress and avoid monitoring every price tick. I also maintain a holistic view of life, which helps me stay grounded.

We asked: How do you handle losing streaks or periods of drawdown?

James: Drawdowns are natural in trading. I analyze my mistakes, stick to my routines, and take time off the charts to spend with family. My faith, role as a husband, and soon-to-be father also help me maintain perspective.

We asked: What’s your daily routine like?

James: My routine includes going to the gym, completing daily and weekly report cards, and taking breaks to recharge. These habits help me stay focused and productive.

Success and Lessons Learned

We asked: What do you think sets successful traders apart from those who struggle?

James: Successful traders treat trading as a long-term career, not a get-rich-quick scheme. They have a plan, aim to improve daily, and maintain a broad, long-term view.

We asked: What’s the most important lesson you’ve learned in your trading career?

James: Learning from mistakes is crucial. For example, not respecting daily loss limits led to significant losses early on. Putting rules in place to prevent repeating mistakes has been key to my success.

We asked: How long did it take you to become consistently profitable?

James: It took me about two years. Guidance from experienced traders like Austin Silver, whom I met in 2019, was instrumental in turning my career around.

Advice for Aspiring Traders

We asked: What advice would you give to someone just starting out in trading?

James: Focus on getting the right education and learn from experienced traders. Start with small prop firm accounts or personal capital to gain experience.

We asked: What common mistakes do you see new traders make?

James: New traders often lack a trading plan and don’t understand their win rate or risk-reward ratio. Having a mentor and being part of a community can help avoid these pitfalls.

Future Goals and Projects

We asked: What’s next for you in your trading career?

James: As I prepare for fatherhood, my goal is to take things one day at a time and continue improving. I share my journey through live trading sessions on ASFX TV and content on my social media platforms.