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Andrew Lockwood sits down for a straight-talking interview about trading the modern markets—why he still loves it after three decades, how he balances education with running a prop operation, and what’s actually changed with platforms and rules. If you don’t know Andrew, he’s a veteran forex trader turned mentor who’s navigated the shift from trading pits to screens and now helps traders get funded the right way. The conversation matters because it cuts through hype and shows how a real trader thinks about trend vs. counter-trend, adapting to platform changes, and keeping emotions in check.
You’ll learn Andrew Lockwood’s practical strategy stack—intraday trend-following for momentum, higher-timeframe counter-trend setups for reversals, and why he targets modest 1:1 to 1:2 R multiples to keep psychology stable. He explains the checklist habits that stop revenge trades, how to size risk so you can actually stick with a plan, when to trade less, and why realistic monthly targets beat lottery-ticket thinking. There’s also clear guidance on prop-firm timing (start smaller, scale sensibly), adapting when forex goes quiet by rotating into indices, and treating trading like a long-term business, not a weekend sprint.
Andrew Lockwood Playbook & Strategy: How He Actually Trades
The core blueprint: two complementary strategies
Andrew Lockwood keeps his playbook simple: a fast, intraday trend-following approach paired with a slower, higher-timeframe counter-trend reversal method. He’s adamant about separating them by timeframe so you’re never buying a “trend” and fading it at the same time.
- Run trend-following intraday; reserve counter-trend for H4/Daily only.
- Never deploy both styles on the same timeframe—avoid mixed signals and second-guessing.
- Expect only 3–4 reversal trades per month on the higher timeframe; be patient.
Market selection & session bias
He still thinks like an ex-pit trader: align with the big players and the session that’s actually moving. That mindset keeps you on the right side of flow and focused on liquid hours.
- Prefer major FX pairs & indices during their active sessions; stand with the “big side” of the market.
- If a market’s trending, simple trend methods should work—don’t overcomplicate.
- When trends stall, dial down frequency; trend systems will get chopped—protect capital.
Intraday trend-following: the bread-and-butter setup
Andrew’s intraday strategy is built around continuation—wait for momentum, then take the pullback. Think simple price action first; tools are there to confirm, not to predict.
- Trade pullbacks in the prevailing intraday trend; enter on a break of the pullback’s structure.
- Place stops beyond the pullback low/high; target 1:1 to 1:2 R for consistency.
- If momentum fades (smaller candles, failed breaks), skip the next signal—protect win-rate.
- After two consecutive losses in one instrument, pause that symbol for the session.
Higher-timeframe counter-trend reversals (H4/Daily)
Reversals are slower, cleaner, and rarer. He uses key levels and price action to fade exhaustion—but only when structure is obvious.
- Scan H4/Daily for mature swings into major levels; require a rejection candle or break-and-retest first.
- Cap to 3–4 quality trades per month; no scaling until BE is locked.
- First target at the prior swing/mean, then trail to structure; no averaging down.
Risk sizing & trade management that sticks
His management is designed to be psychologically durable: modest targets, strict sizing, and zero room for revenge trades. That way, you can actually execute the plan for months, not days.
- Risk per trade: ≤ 1%; daily loss cap: 2–3R then stop trading.
- First scale-out: at +1R when available; move stop to BE only after a clear structure break.
- Weekly max drawdown: 5R; hit it and stand down until next week’s open.
The psychological checklist (pilot-style)
Andrew compares trading to aviation: you don’t push the throttle without a checklist. He insists on pre-trade and psychology checks to prevent the classic spiral of mistakes.
- Before the session: sleep 7h+, no open anger/stress, no deadlines looming.
- During the session: No revenge trading, no over-trading, never lift risk “just this once.”
- After a 2-trade losing streak, take a 15-minute break; after 3, stop for the day.
Prop-firm pathway: when and how to attempt funding
He views funding as one leg of a three-legged stool alongside education and psychology; go too early and you’ll pay for lessons the hard way. Use realistic rules and platforms you can actually operate.
- Attempt a challenge only after 90 days of tracked, positive expectancy on demo or micro.
- Avoid “gimmick” rule sets (e.g., 8% target with 15% drawdown) that encourage gambling behaviour.
- If you’re capital-limited, start smaller and scale; don’t chase size before you have the mindset and strategy.
Platform changes without drama
Tools change—MT4/MT5 to DXtrade, automation limits, new rules—but green candles are still green candles. He adapts calmly, keeps education front and center, and focuses on transferable setups.
- Master one platform’s basics (orders, stops, partials, templates) before live trading any challenge.
- Maintain a platform-agnostic playbook: entries/exits defined by price action, not indicators unique to a terminal.
- When forced to migrate, paper trade 20–30 reps of your A-setup on the new platform before risking capital.
Daily routine & metrics that compound
Longevity beats hot streaks. Andrew doesn’t celebrate a few wins; he expects streaks to mean-revert and measures progress over sets of trades. Track the right numbers and keep emotions in check.
- Journal setup type, session, R multiple, emotion (1–5); review after every 20 trades.
- Target a steady monthly R instead of moonshots; consistency > spikes.
- Build habits: same start time, pre-market scan, checklist, review—every trading day.
Price-action “naked” swing add-on (for H4/Daily)
For traders who prefer minimal indicators, his naked swing approach uses simple patterns at obvious levels. It’s built for clarity, speed, and low screen time.
- Identify support/resistance, wait for a clear rejection candle (pin/engulfing), and enter on confirmation.
- Stop: beyond the structure; TP1: at opposing swing; TP2: trail behind higher lows/lower highs.
- Scan once or twice daily; limit to the cleanest 1–2 charts—quality over quantity.
“Trade like a pro, think like a pilot”
Everything ties back to discipline: checklists, conservative risk, and clear playbooks. Treat each session like pre-flight and you’ll stay in the air longer than the thrill-seekers.
- Checklist before throttle: market condition, bias, risk, exit plan—then and only then execute.
- Process over prediction: follow the plan on A-setups; skip the rest.
- Calm during streaks: don’t get euphoric or despondent—it all comes out in the wash over time.
Size Risk Like a Pro: Fixed R, Daily Max Loss, Stop Trading
Andrew Lockwood treats risk like a pilot treats fuel—measured, planned, and never guessed. He uses a fixed-R approach so every trade risks the same small slice of equity, keeping outcomes comparable and emotions tamed. Pick a number that lets you survive a losing streak—think 0.5% to 1% per trade—and stick to it across setups and markets. When R is fixed, your journal makes sense, and confidence grows because wins and losses speak the same language.
Then he draws a hard line for the day: hit a max loss in R and you’re done, no “one more.” Andrew Lockwood’s rule is simple—protect the account and the mindset by stopping once the plan says stop. If you reach a negative threshold (for example, –2R or –3R), shut it down and review, not revenge-trade. Combine that with a weekly drawdown guardrail and a two-loss-in-a-row pause, and your edge gets room to work without psychology blowing it up.
Trade the Trend Intraday; Reserve Counter-Trend Reversals for Higher Timeframes
Andrew Lockwood keeps the intraday playbook brutally simple: follow the dominant move and harvest pullbacks, don’t box with momentum. On lower timeframes, he wants clean structure—higher highs and higher lows for longs, or the opposite for shorts—then an entry on the break of the pullback’s mini-structure. He avoids “calling tops” on M5 or M15 because that’s where traders donate; the job there is to surf the wave, not predict when it dies. Stops live just beyond the pullback, and targets are pragmatic (think 1:1 to 1:2 R), so confidence isn’t hostage to hero trades.
For counter-trend ideas, Andrew Lockwood moves up to H4 or Daily, where noise thins out and levels matter. He waits for exhaustion at obvious supply or demand, a rejection candle or break-and-retest, and only then considers fading the move. The rule is never to run both strategies on the same timeframe—trend and fade don’t mix well in the same sandbox. This separation keeps your head clear, your stats clean, and your edge consistent from session to session.
Allocate by Volatility and Session; Rotate Markets When Conditions Change
Andrew Lockwood doesn’t force trades into sleepy markets—he sizes and selects based on what’s actually moving. If London is lively on GBP or DAX, that’s where he leans in; if New York sparks the indices, he pivots accordingly. Volatility dictates position size: calmer conditions allow a touch more size, spiky tape gets scaled down to keep R constant and psychology steady. He treats the session like a tide—trade with it, not against it.
When forex trends dry up, Andrew Lockwood rotates to instruments showing cleaner structure—often indices or gold—rather than squeezing marginal setups. He keeps a short, session-specific watchlist and promotes charts in and out based on clarity and range, not loyalty to a pair. The goal is consistent opportunity, not stubbornness: reassign risk to where follow-through is real, and park capital when it isn’t. That adaptive allocation turns variability into a feature of the plan, not a threat to it.
Mechanics Over Prediction: Checklist Entries, Structured Exits, Repeatable Process
Andrew Lockwood builds edge from mechanics, not crystal-ball calls. He runs a pre-trade checklist—market condition, bias, setup, risk, exit—so entries are decisions, not impulses. If one box fails, the trade fails; no “gut feel” overrides. Entries trigger only on confirmation (break of pullback structure or clear rejection), and the initial stop is fixed where the setup proves wrong, not where it “feels” safe.
Exits are equally scripted: first target at a logical structure point, stop to breakeven only after price proves itself, and partials taken according to plan—not mood. Andrew Lockwood reviews every sequence in a journal so he can copy what works and delete what doesn’t, turning trading into a factory line of repeatable actions. He treats losing trades as process tests, not personal verdicts, and shuts it down after a predefined drawdown to protect the machine. Prediction is optional; execution is mandatory.
Diversify by Setup, Duration, and Instrument; Avoid Undefined Risk Averaging Down
Andrew Lockwood spreads his edge across a few clean setups, not a hundred messy ones. He pairs an intraday trend-following play with a higher-timeframe reversal idea, so he isn’t relying on one market mood. That diversification extends to duration—quick intraday rotations when the tape is moving, slower H4/Daily swings when structure is cleaner. If EURUSD goes mute, he lets indices or gold carry the weight rather than forcing trades where there’s no follow-through.
He’s equally strict about what not to do: Andrew Lockwood refuses undefined risk behaviors like averaging down without a firm, pre-set invalidation. If price tags stop, the idea is wrong—reset, don’t “add for a better price.” By diversifying the where and how (setups, timeframes, instruments) while keeping risk defined on every single trade, he avoids concentration blowups and the psychological spiral that ruins good months. The message is simple: diversify the engines of your returns, never your discipline.
Andrew Lockwood’s closing message is refreshingly practical: build a playbook you can execute for years, not days. He runs two clear strategies—a trend-following intraday approach and a counter-trend method reserved for H4/Daily—so he never fights himself on the same timeframe. He keeps expectations grounded with modest, repeatable targets (think 1:1 to 1:2 R) because chasing huge R multiples invites long strings of losses most traders can’t stomach. The discipline is enforced with pilot-style checklists that cover both psychology and trade mechanics: no revenge trading, no over-sizing, and no skipping steps when emotions run hot. Over streaks—good or bad—he stays even-keeled, reminding traders that performance “comes out in the wash” over time.
Market selection is about lining up with the strongest flows and rotating when conditions change. Andrew looks for strength versus weakness—favoring strong currencies against weak ones—and when FX goes flat, he’s happy to pivot into indices like the DAX or U.S. markets, where structure and range are cleaner. He keeps the trend-following logic simple: go with the big players, enter after pullbacks into liquidity, and avoid calling tops or bottoms. This simplicity isn’t naïve; it’s battle-tested from pit days, and it’s adapted for screen traders who need clarity, not complexity.
On funding and the prop landscape, Andrew argues for realism over hype. Rules should be strict enough to keep traders honest but fair enough to give them a real shot; “gimmick” targets and oversized drawdowns only encourage gambling. He stresses that success sits on a three-legged stool—education, strategy, and psychology—and most traders rush into challenges before those legs are sturdy. The right path is patient: develop a durable edge, prove consistency, then scale into funding with the same checklist discipline you used to get there. It’s a thesis built on adaptation, not prediction; the platforms and rulebooks will evolve, but clear structure, modest targets, and ruthless risk control keep you in the game.
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