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Desire To Trade Podcast | Forex Trading Tips & Interviews with Highly Successful Traders

If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you're good at. I'll help you do that! The Desire To Trade Podcast has for goal to help you develop Forex trading skills for more freedom. I interview successful traders from around the world. My focus is on providing you with lessons from my personal trading experience and my conversations as I trade and travel around the globe.
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Desire To Trade Podcast | Forex Trading Tips & Interviews with Highly Successful Traders
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Dec 11, 2017

From Restaurant Worker To Full-Time Stocks Trader – Show Notes

In episode 122 of the Desire To Trade Podcast, I interview Jason Leavitt, a trader and founder of LeavittBrothers. He came on the podcast to share about his progression from restaurant worker to full-time stocks trader and what helped him succeed.

Topics Covered In This Episode

  • What Jason is up to these days 1:30
  • How Jason Leavitt transitioned from part-time to full-time trading 2:00
  • The moment Jason saw he could go trading full-time 4:30
  • How Jason managed the first-month of full-time training 6:00
  • The BIG change to make before going to trade full-time (awesome example of self-awareness) 6:57
  • Powerful questions to ask yourself throughout the trading day 12:15
  • How working in a restaurant fits with trading 14:00
  • How Jason Leavitt kept track of his progression & best trade setups 15:09
  • How to manage multiple styles of trading & succeed 16:00
  • The #1 difference between short-term and long-term trading 18:21
  • How Jason Leavitt’s trading style adapted over time 19:13
  • What motivated Jason to create his website 20:30
  • The work behind his website 22:20
  • How looking at the market helps Jason trade better 23:30
  • The 3 bullets required to succeed in full-time trading 24:34
  • How to know when the market changes 29:08

More About Jason Leavitt

Jason Leavitt is the founder of LeavittBrothers, an advisory service for self-directed traders, and PLcharts.com, a web-based tool that enables option traders to draw profit/loss diagrams.

He started trading in 1999 and went full time in 2002. He's traded stocks, options, and futures in several bull and bear markets and primarily uses technical analysis to analyze the market. Originally from Chicago, Leavitt has also lived in Austin, TX, New York, Boston, Denver and now lives in Costa Rica.

Resources Mentioned

DesireToTRADE Top Resources

How To Find Jason Leavitt?

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Dec 4, 2017

The Life Of A Full-Time Forex Swing Trader – Show Notes

In episode 121 of the Desire To Trade Podcast, I interview Hardianto Sunoto, a Forex trader from Jakarta (Indonesia). He came on the podcast to share about his life as a full-time Forex swing trader, his style of trading, and the techniques he uses to manage your trades successfully.

Topics Covered In This Episode

  • What’s going on in Hardianto’s life 1:46
  • How Hardianto got involved in trading 2:05
  • Using Elliott Waves to swing trade Forex & the learning process 3:36
  • What Hardianto does on daily basis 5:40
  • What separates Hardianto Sunoto from other swing traders 7:15
  • How Hardianto validated his trading methodology 8:20
  • Hardianto Sunoto’s thoughts on jumping to live trading right away 9:22
  • Top habits to apply consistently as a Forex trader 10:46
  • The power of looking at the charts frequently 12:12
  • How to get back on track when trading goes bad 13:04
  • Why Hardianto started a Forex copier service 14:35
  • The type returns Hardianto gets in trading & having proper expectations 17:15
  • What you need to start a Forex trade copier service 19:12
  • How to manage your trades successfully (2 techniques) 20:15

More About Hardianto Sunoto

Hardi is based in Indonesia and is happily married with 2 beautiful children. He graduated with a bachelor degree in Chemical Engineering. He started trading the stock market in 2009 after subprime mortgage crisis.

In 2011, he was introduced to the forex market and immediately fell in love with it. He is currently a full-time trader and has been trading profitably for the last 5 years. His analysis of the market is technical, with Elliott Wave Theory, Fibonacci, and Classical Chart Patterns as his favorite tools.

Resources Mentioned

DesireToTRADE Top Resources

How To Find Hardianto Sunoto?

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Nov 27, 2017

From "Stuck In Life" To Profitable Forex Trader – Show Notes

In episode 120 of the Desire To Trade Podcast, I interview Karen Foo, a Forex trader, motivational speaker, and author. After ranking #1 in a Singapore nationwide Forex trading competition, she came on the podcast to share the lessons she learned prior to becoming a profitable Forex Trader.

Topics Covered In This Episode

  • How to manage speaking, trading and building a business 3:00
  • How Karen got involved in trading while doing an engineering internship 4:20
  • The kind of work Karen needed to put in to trade successfully 7:00
  • The lessons Karen Foo learned before becoming profitable 8:20
  • What Karen tells people who want to make a lot of money trading 10:05
  • Karen’s preferred trading style and how to find your style 11:55
  • How Karen manages multiple timeframes 13:05
  • What a day look like in the life of Karen Foo 13:35
  • Nick asks: Exercises to work on your trading psychology 15:13
  • The role of discretion in Karen’s trading 17:10
  • When in the day does Karen trades 17:45
  • What Karen is still working on (continuous improvement example) 18:20
  • How to improve yourself every day 19:30
  • Mary asks: What it takes to become a highly skilled trader 20:30
  • Karen’s journaling process and its importance 22:18
  • What Karen’s trading plan look like 23:18
  • Why patience leads to consistency & how to make it happen 25:20

More About Karen Foo

Karen is actively involved in speaking at various conferences, seminars, expos, workshops, toastmaster clubs and publicly-held events in Singapore and Malaysia.

Having overcome numerous setbacks in her life, she has gone on to inspire thousands of youths working executives and leaders of various companies to REALIZE THEIR ABSOLUTE WILDEST DREAMS through her INTERACTIVE, INSPIRING AND ENGAGING TALKS. Being labeled as the “quietest student and underachiever” throughout her life, she went on to win numerous awards in public speaking contests, scholarships and hosting large-scale events as an emcee.

She was then featured in various print media for her academic achievements. She has also been invited to speak at an international conference to leaders from Brunei, China, Hong Kong, Laos, Malaysia, Vietnam, Indonesia, Myanmar, and Singapore.

Karen has been ranked #1 in a Singapore nationwide Forex trading competition, competing with over 200 traders from NUS, NTU, SIM, and SMU. She was also ranked 10th in a contest organized by FX Street, competing with over 3000 traders from over 20 countries. She has shared the stage with top investment gurus and CEOs at an international expo held at Marina Bay Sands. She is also the contest judge for numerous public speaking contests held around Singapore, ranging from club level to the National level contests.

DesireToTRADE Top Resources

How To Find Karen Foo?

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Nov 20, 2017

Secrets Of A Professional Forex & Stocks Trader – Show Notes

In episode 119 of the Desire To Trade Podcast, I re-interview Steve Patterson, one of the top proprietary traders based in Toronto, Canada. As someone trading the markets for over 37 years, he came on the podcast sharing his secrets & techniques as a professional Forex & stocks trader.

Watch the video interview!

I previously had the chance to discuss with Steve in episode 108 of the Desire To Trade Podcast.

He is someone aspiring professional traders can learn a lot from and I always feel great after discussing with Steve. There are several "gems" in this interview!

Topics Covered In This Episode

  • What Steve Patterson trades (i.e. trading style and career) 2:10
  • Pre and post-trading routines 4:30
  • The books Steve recommends trader to read 8:05
  • How to feel like a professional trader (hint: you shouldn’t) 10:05
  • Mixing discretionary and systematic trading 12:35
  • Indicators traders can profitably use in the market 13:30
  • How to create a winning trading strategy 20:20
  • How Steve trades on a typical day 24:00
  • How do you know what you trade will work on different assets 28:00
  • How do you get a feel for the market (exercise) 33:10
  • How to distinguish a great market from a messy market 42:00
  • How to place a stop loss profitably in the market 46:40
  • The expectations you should have when you start trading 49:40
  • How Steve would treat trading with a small account 56:20
  • The role of confidence in trading 1:01:00
  • How to make 10%/month as a swing trader 1:11:40

More About Steve Patterson

Steve Patterson has experience working in the world’s largest firms, prop firms, stockbroker and floor trader. During his work life, he has seen 3 market crashes and multiple Bull and Bear market cycles.

He knows everything about how to master the markets and trade profitably through all environments and the secrets of a professional Forex, Stocks Trader, which makes him a very interesting guest.

Resources Mentioned

  • Exclusive Coaching with Steve Patterson: Steve is offering a special program for Desire To Trade fans. This is an opportunity you don't want to miss! Make sure to select the "Desire To Trade" option for a free call with Steve!

DesireToTRADE Top Resources

How To Find Steve Patterson?

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Nov 13, 2017

118: Going From Part-Time To Full-Time Trading - Paul Singh

Going From Part-Time To Full-Time Trading – Show Notes

In episode 118 of the Desire To Trade Podcast, I interview day & swing trader Paul Singh. He came on the podcast specifically to discuss his transition from part-time to full-time trading.

Over the years, Paul has developed the skills required to trade in multiple markets. In addition to swing & day trading, he has entered markets including options, futures, and stocks.

Topics Covered In This Episode

  • An awesome quote on fear & worry 2:00
  • How Paul turned $5,000 to $200,000 trading in law school 3:20
  • “Lightbulb moments” in Paul Singh’s trading career 7:04
  • What it takes to go from part-time to full-time trading 14:30
  • A big pitfall to avoid as an aspiring part-time trader 26:28
  • How Paul Singh got successful in multiple trading styles 27:40
  • Two big keys to trading success 34:20
  • Share-a-trade (Paul shares his trading methodology) 35:38
  • Top routines for part-time and full-time traders 40:10
  • Paul’s post-trading routines 46:10

More About Paul Singh

Paul has been trading since the late 90s internet boom. After blowing up 2 accounts after a 200k run up during the boom, he got serious around the mid-2000s.
 
After completing six years of serious part-time trading around a job, Paul transitioned to full-time trading and has been a full-time trader since 2012.
 
In 2014, he was approached by his former student Kunal Desai (interview here) to run the swing trading service at BullsonWallstreet. Paul continues to personally mentor select traders.

Video Interview

Watch on Youtube

 

Resources Mentioned

DesireToTRADE Top Resources

How To Find Paul Singh?

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Nov 6, 2017

Forex Reversal Trader Habits, Mindset & Strategies – Show Notes

Forex Reversal Trader Habits, Mindset & Strategies – Show Notes

In episode 117 of the Desire To Trade Podcast, I interview Dale Pinkert, a Forex trader & host/mediator at Forex Analytix Community Experience (F.A.C.E.). He came on the podcast to share his story as a Forex reversal trader.

We jump into habits, mindset, and strategies that are essential to succeed in the Forex market.

Topics Covered In This Episode

  • The power of "social trading" and how you can use it to trade better 5:45
  • A powerful way to trade (knowing how to take the losses) 8:10
  • A piece of advice on not following too many instruments 11:20
  • How Dale Pinkert started to trade 11:40
  • How Dale learned trading 13:40
  • Wisdom on partial profits & stop losses 16:45
  • How Dale uses the RSI to trade 19:45
  • How to incorporate multiple time frames into your trading 22:45
  • How Dale develop his trading strategy (who taught him) 23:50
  • Some trading strategy ideas 26:00
  • How Dale plans his trades on the weekend 30:00
  • Morning routine (including waking up at 3:30am) 31:05
  • One thing Dale Pinkert still struggles with & how he solves it 32:30
  • How Dale confirmed his edge in the market (without backtesting) 37:00
  • Can you trade for a living with $10k? 40:20 
  • What Dale thinks of "educators that don't trade" 41:40
  • The #1 tactic to remain consistent over a long period of time 45:00

More About Dale Pinkert

Dale began his career in operations on the CME floor for Dean Witter when they traded currency futures on chalkboards. He became a licensed Series 3 broker in 1976 and went on to own and operate Pinkert Commodities GIB. He became a Member of the CME (IOM) Division for a stint and his forecasts have been aired on many Financial media including CNBC.

Dale has Coached/Mentored retail and prop traders and has gained a solid reputation for his work on the other side of the mic having interviewed over 700 of the best of the best in Trading.

 

DesireToTRADE Top Resources

How To Find Dale Pinkert?

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Oct 30, 2017

116: 50 Years Of Experience On What Highly Successful Traders Do - Barry Burns

50 Years Of Experience On What Highly Successful Traders Do – Show Notes

In episode 116 of the Desire To Trade Podcast, I interview Barry Burns, a trader, and educator. He came on the podcast to talk about his 50 years of experience on what highly successful traders do.

More About Barry Burns

Dr. Barry Burns started his study of the markets under the
direction of his late father, Patrick F. Burns, who accumulated
70 years of trading experience in his lifetime.

Barry is also the author of the book Trend Trading For Dummies published by Wiley. He has been seminar presenter for several exchanges including the CME Group and Eurex, & founded Top Dog Trading, to help students shorten their learning curves in becoming traders.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

Share This!

"Listen to more Desire to trade podcasts" - Barry Burns.

* Big thank you to Barry for saying this :)

What's Covered In This Episode

  • The difference between successful and unsuccessful people 1:30
  • Barry Burns' trading style with 7 monitors 3:40
  • How Barry started to trade with his father 50 years ago 5:54
  • A powerful method to understand what happens in the market 10:15
  • The lessons Barry learned early on that can be applied today 11:25
  • The transition to trading with computers 12:40
  • The process of getting feedback on your trading 16:00
  • The uncommon things most traders do wrong 19:15
  • Trade setups & strategies Barry Burns relies on 20:43
  • How many trades Barry takes in a day by trading 3 hours/day 31:40
  • How Barry Burns manages life & day trading (time management advice) 38:10
  • Trading the open vs. trading later during the day 41:44
  • What highly successful traders are willing to do others don't (POWERFUL ADVICE) 45:20

Resources Mentioned

DesireToTRADE Top Resources

How To Find Barry Burns?

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Oct 23, 2017

$2,000 Days As A Stocks Day Trader After Getting Fired – Show Notes

In episode 115 of the Desire To Trade Podcast, I interview Andrew Aziz, a stocks day trader based in Vancouver, Canada.

Andrew is the author of the amazing book How To Day Trade For A Living.

This is probably one of my favorite story shared on the podcast so far. After all, Andrew got very serious about day trading after getting fired from his job as a research scientist.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

Covered In This Episode...

"Every day I wake up at 4:30 a.m. but it doesn't bother me. It's my passion." - Andrew Aziz

  • Andrew Aziz's favorite quote about passion 2:10
  • The daily routine of a stocks day trader on the West Coast 3:30
  • How Andrew reacted to receiving an employment termination letter 6:30
  • The learning process Andrew went through 8:44
  • The #1 thing Andrew had to learn to succeed in day trading 10:26
  • The reason why Andrew jumped into day trading 12:25
  • The step-by-step guide for those wanting to day trade 14:45
  • Andrew's top trading strategy: he guides us through a recent trade 17:55
  • How Andrew manages to day trade only 1hr/day 20:35
  • How traders can use video journals for their trading 22:55
  • Daily habits most traders tend to overlook 25:00
  • What Andrew does when he doesn't feel in the right state to trade 28:30
  • Powerful advice applicable to any trader 29:42
  • Listener's question: the best timeframe for day trading 30:20
  • What your job is as a stocks day trader & common mistakes 32:05

Resources Mentioned

DesireToTRADE Top Resources

How To Find Andrew Aziz?

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Oct 16, 2017

5 Big Forex Trading Lessons On Trading Success

5 Big Forex Trading Lessons On Trading Success – Show Notes

In episode 114 of the Desire To Trade Podcast, I go solo to share 5 trading lessons I learned while hosting the podcast in the last 2+ years. After all the guests interviewed, I felt it was time to reflect a little and point out thing that you can take action on.

Watch the video on Youtube!

 

Summary - 5 Big Forex Trading Lessons On Trading Success

#1: Being Clear On Your Goal

When I started to trade, I had absolutely no idea of where I was heading. The only thing I cared about what to become profitable.

However, what I didn't realized is that I could have speed up the process by defining a goal and identifying the actions needed to reach that goal.

Most often, massive success in trading involves other activities such as reaching out to people, testing thing, collecting data, etc. Those can be done early to boost your growth as a trader.

#2: Returns (%) Are Irrelevant

Judging a trader by its returns is a poor way to go about it.

I used to think that my job was to find the "best trading strategy for the best return".

However, there are two simple things we can do in trading to increase returns (and or money) we make:

  • Increase your trading capital
  • Increase slightly your risk

What truly matters isn't the return percentage per say. It's the consistency with whatever return you are getting. 

1% per month can be easily boosted to 2% return per month, and eventually 8% per month.

#3: Master-Focus Gets You Results

Mastery in any discipline comes through mastering every part. 

Unfortunately, it's impossible (and counter-productive) to learn about all the parts at once.

If you want to see success quicker in trading, you must master one part at a time.

That might mean taking a course on what you need to learn most right now and putting all your energy on that. 

Then once you see results, you move to the next thing you need to master. 

If you're not sure what to work on today, you can ask yourself: "What is important for me to master now?" or "What do I struggle with the most at the moment?"

#4: Awareness Is A MUST

Awareness has multiple components in trading 

Your energy level

If you trade on low energy, you make more mistakes.

Self-image

Whatever you see yourself as will eventually become true.

Yourself

What are you best at? What do you need to work on the most right now?

If you become aware of yourself, you can decide which direction to go and what to focus on.

#5: Keep The Routines Going At All Costs

Routines in trading are powerful. 

I discovered (the hard way) however that routines easily fall apart once you start traveling while trading.

A change in environment can be tough to remain consistent in your actions.

That's why I now do my best to establish new routines - similar to the ones at home - as soon as I get to a new place.

I make sure I have a process to get in the right state of mind, note down my trades, and review everything I trade.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

 

DesireToTRADE Top Resources

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Oct 9, 2017

113: Day Trader's Story Of Learning Through Failures & Serious Effort - Jerremy Newsome

Day Trader Success Story, Learning Through Failures & Serious Effort – Show Notes

In episode 113 of the Desire To Trade Podcast, I interview Jerremy Newsome,  CEO and co-founder of RealLifeTrading. He came on the podcast to share his day trading success story, marked by a few failures but most importantly putting serious efforts.

Watch the video interview on Youtube!

Jerremy provided several insights when it comes to building the right money beliefs, trading psychology and understanding yourself as a trader.

We also introduce a new segment on the podcast called "Share a trade", in which the guest share a recent trade accompanied by their thought process.

More About Jerremy Newsome

Jerremy Newsome has been professionally trading the stock market since he was 21 years old. Jerremy specializes in candlesticks, gaps, credit spreads, day & swing trading.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

Share This!

"Know yourself, know your weaknesses, be ok with it, build a plan and follow it." - Jerremy Newsome (click to tweet)

 

 

Resources Mentioned

DesireToTRADE Top Resources

How To Find Jerremy Newsome?

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Oct 2, 2017

Get Ready When The Market Moves - William Fong Trader InterviewGet Ready When The Market Moves – Show Notes

In episode 112 of the Desire To Trade Podcast, I interview William Fong, a multiple-market trader with an interesting institutional background. Based in Victoria (Australia), William came on the podcast to share the lessons he learned in the past years, including how to get ready when the market moves.

Watch the video interview!

William places a lot of emphasis on the importance of mastering fundamentals. In his opinion, it's what's provide traders a solid edge. 

Nevertheless, he acknowledges that traders have different styles and that what's most important is to find something you're good at.

More About William Fong

William Fong has over 10 years of macroeconomic, Asian/Australian credit experiences. He began at the ground floors of big companies and made his way up through years of experience.

Today he shares what it looks like to trade for big institutions and work for them.

William has accumulated knowledge on the following products: book runner and structurer on Fixed Income, FX, Interest Rate & Credit Trading.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

Share This!

"Don't rely on luck, do your homework, learn the fundamental things; just learn as much as you can, because one day you'll need it" - William Fong

 

DesireToTRADE Top Resources

How To Find William Fong?

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Sep 25, 2017

111: Making The Million As Prop Firm Trader & Founder - Samuel Leach

Making The Million As Prop Firm Trader & Founder – Show Notes

In episode 111 of the Desire To Trade Podcast, I interview Samuel Leach, a trader, and investor based in St Albans, United Kingdom. He came on the podcast to talk about making the million as prop firm trader & founder.

Watch the video interview!

More About Samuel Leach

Samuel Leach is a trader, investor, and also partner of multiple businesses. At the age of 25, he made his first million pounds. He did it by building businesses as well as trading.

Samuel gained the spotlight when he turned his student loan £2,000 into over £170,000 within a matter of months trading the stock and currency market. He has since grown his trading company to a globally recognized prop trading firm and training house. He owns multiple businesses within different sectors and is always expanding his business reach.

He is now sharing with his students exactly how he managed to generate seven figures from his businesses and supporting others on their business journey.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

Share This!

"Close the people that are going to try to dishearten you from chasing your dream of being a trader and don't let them bother you" - Samuel Leach

 

Resources Mentioned

DesireToTRADE Top Resources

How To Find Samuel Leach?

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Sep 18, 2017

110: Key Experiences & Breakthroughs As A Forex Trader - Etienne Crete

Key Experiences & Breakthroughs As A Forex Trader – Show Notes

Episode 110 of the Desire To Trade Podcast is a reversed interview! My show gets taken over by Forex day trader Kevin Hunt, who asks me questions about my key experiences & breakthroughs as a Forex trader.

It was definitely nice talking with Kevin and getting to share more of my past experiences on the podcast.

If you haven't done so, I recommend you listen to episode 105 in which I interview Kevin.

To learn more about me & what I've been up to, head over the About page. You'll learn what I think of trading, why I do it, and more!

Do you enjoy the podcast?

If you enjoy the podcast, I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast. Reviews are always appreciated!

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"Consistent actions lead to consistent trading results. Plan, trade, review, act, but never ever compare yourself to other people." - Etienne Crete

 

My 6 Key Lessons From This Episode

A Trading Strategy Is Built By Combining Things From Various Sources/People

I believe that there's a common path most Forex traders go through. They start to trade and take pieces from other traders they meet over time.

Very rarely you will find a trader who just copied someone else and then became successful.

That's why you might need to invest in many courses & coaches before jumping to full-time trading.

The key is to keep building things over time. I never regretted investing in myself because I always got a new lesson I hadn't got before.

Find/Use Indicators That Make Sense To You

Some traders love indicators. Some traders hate them. 

What I think is essential is to find things that make sense to you. 

Trading using the Bollinger Bands makes sense to me, but that doesn't mean I'll use them forever. You must be willing to adapt.

The thing is, you'll discover pretty quickly whether the tools you use to trade are right for you or not.

Adopt A 'Continuous Progress' Mindset

For me, it doesn't matter if I fail a little or if I don't perform as I expected it. 

That's because I come into trading, business & life with a 'continuous progress mindset'. 

If you screw up today, don't think about how bad it is. Instead, think of how you can make things better. Be action-focused & keep your eyes on where you're heading! 

Listen: 034: Trade With An Edge & Growth Mindset - Mike Bellafiore

Hang Out With Other Traders To Overcome Hard Times

Without any doubts, the thing that helped me the most in improving my trading was hanging out with more traders.

I started to trade by myself and stayed by myself for roughly the first 2 years. Then, I began going to Meetups & events. I started the podcast.

Those were occasions for me to get bits of advice from the people who had achieved what I wanted to achieve. I can't urge you enough to do that.

The key when you want to surround yourself with more traders and/or successful people is to add value. Don't try to gain/take from other people. Honestly, provide value and you'll be amazed by what you get out of it!

Being Convinced A Trade Is Right = Worst Trading Mistake

During the interview, I share an example of one of worst trades (taken on the SPX500). That was in 2013, I believe.

At the time, I was completely sold on this trade and found all the reasons why it would work out. I kept adding to the trade, and of course, it didn't work out.

Look At Your Results At Intervals Of 10-20 Trades Only

A few months ago, I began sharing my trading results on this blog.

I think that was a mistake, but let me explain... 

The results of a month's trading aren't significant if you only took 5-10 trades that month. It doesn't really show whether your stats are accurate because your sample size isn't big enough.

I intend to keep sharing my trading results but will do so only at intervals of 20 trades. This will be a better opportunity to go back and re-evaluate whether those 20 trades respect the typical statistics of my trading strategy.

You should do the same when looking at your results. Don't look at your stats after every trade!

Resources Mentioned

Desire To TRADE Top Resources

How To Find Me?

I typically list the various places where you can find my guests here. I'd be happy to connect with you on the following social media:

What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

Sep 11, 2017

109: How Pro Traders Control Their Emotions & Trade Stocks - David Moadel

How Pro Traders Control Their Emotions & Trade Stocks – Show Notes

In episode 109 of the Desire To Trade Podcast, I interview David Moadel, a trader, and investor based in Florida, United States. He came on the podcast to talk about how pro traders control their emotions and trade stocks.

More About David Moadel

David Moadel is a trader and investor of stocks and options. A former elementary school teacher, David has a master's degree in education and a unique ability to convey knowledge in the area of finance.

He has coached many people and likes to combine fundamental and technical analysis to help people find their own trading style.

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"Wait for a great trade setup and if there's none - do nothing" - David Moad

 

5 Key Lessons From This Episode

The Market Brings Money From The Impatient To The Patient

Patient traders are usually those who get most rewarded by the market. I have seen this personally over time.

Read: How To Cultivate Patience As A Trader

Listening Recommendations From Non-Traders Is Usually A Bad Idea

The next time a family member tells you about a "hot stock" to buy, think about it twice. 

I never got any results in Forex trading by copying people, and that works in all fields.

Do Not Follow The Majority

In alignment with the previous lesson, following the majority is rarely the way to go in trading & investing.

Most people do not know what they are doing and are acting out of emotion. 

Remember Sam Walton's quote?

"If everybody is doing it one way, there's a good chance you can find your niche by going exactly in the opposite direction." - Sam Walton

Wait For Your Great Trade Setup

While you cannot always wait for the perfect trade setup in the market, the best you can do is usually to wait for a great trade setup.

The market does not produce great trade setups at all times. That's why patience is important.

I recommend writing down the things that make your setup great. For me, taking trades at key support & resistance levels typically transform an average setup into a great setup.

Diversify - Do Not Go All-In On Trade

Proper risk management in trading requires that you do not put all your money on one single trade. This is one of the simplest ways to avoid blowing up your trading account.

Resources Mentioned

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Sep 4, 2017

How To Make A Living Trading Multiple Markets - Steve Patterson

How To Make A Living Trading Multiple Markets – Show Notes

In episode 108 of the Desire To Trade Podcast, I interview Steve Patterson, one of the top proprietary traders based in Toronto, Canada. As someone trading the markets for 37 years, he came on the podcast to talk about how to make a living trading multiple markets.

More About Steve Patterson

Steve Patterson has experience working in the world's largest firms, prop firms, stock broker and floor trader. During his work life, he has seen 3 market crashes and multiple Bull and Bear market cycles.

Now he knows everything about how to master the markets and trade profitably through all environments, which makes him a very interesting guest.

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"Get the right expectations about what this business is and what is possible from this business" - Steve Patterson

 

10 Key Takeaways From This Episode

1. Keep Things Simple, But Not Too Simple

While some strategies found online seem ultra-simplistic, there will always be an aspect that makes trading not so simple. 

For instance, a candlestick pattern by itself is not likely to produce a positive return by itself. You must add rules to limit the trading you'll do (i.e. concentrate on the best setups). That's what I believe is meant by keeping thing simple, but not too simple.

One thing I'm personally a big fan of is to use the Market Phase to determine whether my trade setup appears in the right context.

Read: Successful Price Action Trading In 3 Steps

2. You Take Out Of Trading What You Put Into It

As you've probably heard before, Forex trading is a field in which you should spend more time working on becoming better than actually trading. 

After all, you are competing against the top traders of this world, algorithmic systems, and technology. If that doesn't motivate you to work harder, I don't know what will do it...

I have seen how much you get rewarded for the work you put in outside trading hours. Those hours spent backtesting, researching, journaling, etc. eventually pay!

3. Pick The Market In Which You Have An Edge

What's interesting about Steve Patterson's style of trading is that he decides in advance what market he is going to trade. By sticking to a market for a certain period, he ensures that he trades where there is sufficient volatility.

Although Steve doesn't watch the news, that much, he notices where things are likely to happen through fundamental analysis.

4. Use Fundamental Analysis For Your View Of The Market

Steve mentions early in the episode that he is bearish on the S&P500 since the beginning of August 2017 all the way to the date of the recording (August 17th, 2017).

That was, in part, due to multiple companies missing earning estimates in the recent earning season. He noticed a theme.

He gets to answer: "Is the smart money buying or is the smart money taking profit?"

5. Never Fight An Existing Trend

One of Steve's key lesson to his students is to never fight an existing trend. Instead, he mentions the interesting fact that it is easier to go with the trend instead of going against it - even if the trend is about to end.

6. Indicators Alone Aren't Producing Results

When trading any market, most new traders rely on indicators. I have personally seen how poorly some indicator-only trading strategies perform over the long-run. You can rarely expect consistency unless you add in many filters to your trades.

I have personally seen how poorly some indicator-only trading strategies perform over the long-run. You can rarely expect consistency unless you add in many filters to your trades.

As Steve mentions it, most people don't know why certain indicators/patterns/ work well in certain conditions and not in others. 

That is something you must take into consideration and be able to adapt when you notice a change.

7. Recognize When The Market Is NOT Chaotic

Steve and I spend most of our time saying "No" to trade setups because they happen in the wrong environment - a chaotic market. What's more important is being able to detect when a specific setup is likely to work out.

What's more important is being able to detect when a specific setup is likely to work out.

8. Develop Patience

Patience always pays. After asking Steve about his best advice for traders looking to trade only the Forex market, he replied: "learn to develop patience". 

He added to that: "learn to identify the best setups."

9. Stay Optimistic

Trading is probably the field in which it's the hardest to stay optimistic - speaking from experience here. :)

However, all the results I got in trading occurred when I was optimistic. You must find something to get you back on track when things don't go as planned. My personal resource is listening from inspiring traders on the Desire To Trade Podcast.

10. Coaching Will Set You Apart From Other Traders

When Steve started to work in institutions, he followed an existing trader for several weeks to learn the details of the job.

I have personally seen a lot more success when I made the decision to invest in coaching.

Watch: What I Got After Spending $5,500 On Coaching...Worth it?

Get Coached By Steve Patterson

  • You can get 20% off certain coaching packages offered by Steve Patterson if you mention the Desire To Trade Podcast. Simply email carolyn@stevepattersontrading.com to get your discount.

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Aug 28, 2017

The Psychology Of Success In Trading – Show Notes

The Psychology Of Success In Trading – Show Notes

 

In episode 107 of the Desire To Trade Podcast, I interview Silke Glaab, a psychologist based in Dubai. She has been trained to guide people to have it All: success, fulfilling work and money - and romantic love, a great partnership, and family.

Silke accepted to come on the show to share some of the principles surrounding the psychology of success in trading. 

More specifically, we tackle the 5 steps to staying vibrant and energized all day as a trader throughout the interview. Those can be applied to anyone in any market!

More About Silke Glaab

She completed a Master Degree in Psychology from Munich University with a Cross-Cultural experience and 15 year Training and Advisory career with positions held as Training Manager at T-Online for Technical and Customer Care Support, Research Assistant at Psychiatry Ulm for Quality Assessment and as Project Consultant for German International Cooperation (GIZ) in Kenya prior coming to Dubai.

With her profound knowledge in NLP Master Coaching and Hypnotherapy (Marisa Peer method), she can assist you to elevate your brain power, change limiting beliefs of your subconscious mind and release stuck energy in minutes so that you can align your personal goals with our highest mission!

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"Breathe, because it's powerful." - Silke Glaab 

Key Takeaways From This Episode (provided by Silke)

Keep Your Perception Fresh

It is the ability to become aware of something through the senses. However, there are millions of sensual information reaching your brain every second.

The actual perception is a distortion of the all the incoming data and is linked to already stored information and expectations. And we're not consciously aware of that.

So, if you're checking on the same charts every day your brain compares the incoming info with already existing info and matches it. This can lead to misinterpretations of new info. 

How To Improve: Challenge your brain by changing your routine all over, include breaks and stay focused for at least 20 minutes.

Feelings & Thoughts Work Together

A thought is an idea or opinion produced by thinking(about yourself, others, trading, the world) or occurring suddenly in your mind.

The quality of the thought depends on your biology, your emotional state you're in. It can be triggered by incoming information from the environment (senses) or from inside your body (feeling).  

Stressful or incongruent situations create chaos in your brain and as a result making it impossible to think clearly or to come up with new and creative solutions. 

When you change the context (emotional state) in which thoughts emerge, you can change the quality of the thought.

Further, 95% of our thoughts are subconscious and they're running their programs in the background.Therefore, affirmations often do not work, because they target the conscious mind.

 

A feeling is a conscious awareness what's going on in your body. Like with anger, your heart beat goes up, blood pressure rises, muscles tense up, your attention narrows. Often you're not aware. And you're still thinking what you're thinking and doing what you're doing and it's not your best performance. Feeling and thinking are interrelated. A negative thought results in a negative feeling and negative feeling results in a negative thought.

And you're still thinking what you're thinking and doing what you're doing and it's not your best performance. Feeling and thinking are interrelated.

A negative thought results in a negative feeling and negative feeling results in a negative thought.

How To Improve: Uncover your limiting beliefs and change them in an instant and reprogramme your mind in minutes with Psych-K.

 

Emotions & Awareness

Emotions are energy in motion. The result of all physiological inputs creates an emotion in the brain.

How To Improve: Become aware of your feelings throughout the day to navigate them throughout the day. Take control of your emotions and shift your emotion towards the flow zone of passion, focus, determination, containment, and curiosity. Move away from anger, frustration, anxiety, boredom, detachment. Methods: Breath, Label and Embrace your feelings, Bilateral stimulation...

Listen: The Most Valuable Insights On Trading Psychology - Andrew Menaker

Control Your Physiology 

Physiology is a stream of date from all physical and chemical processes in a living organism to the brain.  

How To Improve: Control your physiological state to get an instant grip on your emotional state towards a flow state and become crazy productive by controlling your BREATH. Dr. Alan Watkins recommends a Breath which is Rhythmic, Even, And Through your Heart. Other things are sleep, exercise, nutrition.

Resources Mentioned In This Episode

 

 

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Aug 21, 2017

What Makes A Great Discretionary Trader – Show Notes

Show notes: http://www.desiretotrade.com/106/

Recorded on July 24th, 2017

In episode 106 of the Desire To Trade Podcast, I interview discretionary trader Will Hunting who, like many traders, describes the early years as a series of ‘humbling’ experiences.

Will Hunting started a journal recording simple techniques and market observations which allowed him to trade successfully and develop a hobby into a career.

Some of that journey was documented in public forums dedicated to trader education.

He has helped hundreds of traders new and veteran alike to build solid foundations in technical analysis, price behavior, market psychology & critically the ability to make sensible decisions.

Having delivered double digit returns for many years he has been featured in trade publications and is one of the UK’s most well-known independent retail forex traders.

Key Takeaways From This Episode

Learning From Every Trader You Meet

One major thing I got from this interview is the idea that we, as Forex traders, take lessons from all the other traders we meet. The trading strategy I currently trade, although it is unique to me, is based on different little things I learned from different people.

A Twist On The Risk-To-Reward

Another major discussion concerned reward-to-risk. Although a lot of traders see a loss in trading as the "cost of doing business", Will reminds that we can add criteria to avoid taking as many loss. That will make the drawdowns much smaller.

Following The Way That Makes Sense To YOU

As discussed throughout this interview, Will Hunting has a discretionary trading style that differs from most traders previously interviewed. 

That, however, makes sense to him and that is a very important part of the equation of success in trading. A trader that doesn't use something that makes sense to him will never trade at its optimal performance.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

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“Plan every trade. If you do that, you have a head start on all traders.” – Will Hunting

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Aug 14, 2017

London Session Forex Day Trader Made Profitable – Show Notes

Show notes: http://www.desiretotrade.com/105/

In episode 105 of the Desire To Trade Podcast, I interview Kevin Hunt, a Forex day trader who specializes in trading the London session. He is driven by location independence and has been trading his own fund since 2013.

What's impressive about Kevin Hunt's story is how quick he was able to get on the right track after surrounding himself with traders.

At the moment, Kevin runs a London session trading room in the Price Action Traders Institute along with Kim Krompass.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

In This Interview, You'll Learn…

  • The trading style applied to London's Forex session.
  • The story of Kevin - starting to trade from India by meeting interesting people.
  • How to react when your method doesn't work for you.
  • How Kevin realized he was a successful Forex day trader.
  • The importance of continual improvement.
  • How to deal with losing sequences in day trading
    • Developing the skill of walking away
  • An important lesson on expectations.
  • The habits to develop if you want to trade better.
  • A great lesson on using rewards & punishments: Kevin tells the story of a trader who had rewards & punishments at the end of the week/month depending on the respect of her trading plan.
  • The things Kevin Hunt did really wrong - so you can avoid them!
  • And much more!

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“The moment you enter a trade, it has a 50% chance of being wrong.” – Kevin Hunt

Resources Mentioned

Join The Price Action Traders Institute (PATI)

Kevin Hunt teaches in the Price Action Traders Institute (PATI) along with Kim Krompass. 

By entering the promo code DTT10OFF, you will get 10% off for the PATI membership.

To Join the PATI Membershiphttps://priceactiontradersinstitute.com/register/pati-full-membership/

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How To Find Kevin Hunt?

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Aug 7, 2017

Freedom Lifestyle Forex Trading – Show Notes

Show notes: http://desiretotrade.com/104/

In episode 104 of the Desire To Trade Podcast, I re-interview Andrew Mitchem, a Forex trader & coach who has successfully created a "freedom lifestyle" through Forex trading.

What's nice about Andrew's style is how he combines multiple time frames and manages to spend little time trading on a daily basis.

I personally learned a lot from Andrew and he was the very first person who agreed to be interviewed on my podcast. He personally taught me The Money Management Principle Most Traders Don't Know About.

The Forex trading freedom lifestyle Andrew Mitchem developed for himself is very inspiring and I could personally still learn new things from that interview - in which we dive deep on trading strategies & the methods used in the Forex market.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

In This Interview, You'll Learn…

  • The technical trading tools Andrew uses on a daily basis
  • How to enter continuation trades for a better result
  • Why & how trading uncommon time-frames (6hr, 8hr, etc.)
  • How Andrew's trading style changes when traveling
  • How to use round numbers and why they work on all currency pairs
  • Some advanced trading strategies for taking profits
  • What Andrew does uniquely in trading
  • Some of the worst trading mistakes
  • What Andrew thinks is necessary to win a trading competition
  • What is an acceptable drawdown
  • And much more!

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“Keep your risk low per trade and make percentages (not pips)” – Andrew Mitchem

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Jul 31, 2017

The Fascinating Story Of An Institutional Forex Trader – Show Notes

In episode 103 of the Desire To Trade Podcast, I interview Forex trader Tony Sycamore, an ex-institutional trader with a fascinating story in the market.

Watch the video interview with Tony Sycamore

Tony started studying technical analysis more than 20 years ago while working for Macquarie Bank on the floor of the Sydney Futures Exchange (SFE). That was where Tony’s passion for the markets was fuelled.

In 2003, his ongoing study of markets and technical analysis enabled him to become part of the Proprietary Trading Group at Goldman Sachs. Tony was fortunate enough to learn from working with and watching some of the best financial minds in the business. Trading mainly foreign exchange (FX), he posted strong returns on capital, in particular in 2007 and 2008, before leaving the firm in 2009 to transition into FX sales with BNP Paribas (BNPP). He has spent the last five years at Commonwealth Bank of Australia (CBA).

While at CBA and BNPP, Tony wrote and published the Weekly FX Technical Report containing technical analysis, trade ideas, and opinions. The report earned a strong following from a variety of clients, including fund managers, hedge funds, balance sheets, central banks and large corporates all over the world. 

I personally found it very interesting to speak with Tony and to discover more about the world of an institutional Forex trader and how Tony was able to make his mark in it.

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“Every battle is won before it's ever fought.” – Sun Tzu

“When you marry technical analysis to fundamental analysis, that gives you a very strong edge.” – Tony Sycamore

“If you look off to your downside, your upside will take care of itself.” – Tony Sycamore

In This Interview, You'll Learn…

  • What made Tony pick Forex as the market to trade
  • How & why focusing on technical analysis makes you stand out
  • The differences between trading on your own and for an institution
  • The role of correlation analysis for an institutional Forex trader
  • Timeframe transitions Tony Sycamore went through over time
  • From Rugby to Forex trading
  • How to react when your view of the market is tested
  • How and why to create new trading strategies over time
  • What should your focus be in this new trading/finance industry
  • How to decide what to trade in the Forex market
  • What indicators technical institutional Forex traders look at
  • Why a return of 25% per year is awesome
  • The typical win rate of an ex-institutional Forex trader
  • The worst month to trade
  • What's unique with Tony Sycamore's trading
  • And much more!

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How To Find Tony Sycamore?

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Jul 24, 2017

Massive Success As A Digital Nomad Forex Trader – Show Notes

In episode 102 of the Desire To Trade Podcast, I interview Forex trader Navin Prithyani, a digital nomad Forex trader who I had the chance to meet in Bangkok, Thailand to record this episode.

Watch the video interview

Navin has been trading Forex for well over a decade. During this time he went through all the phases of a successful trader and through all the hardships to reach every next phase. These days Navin is giving back to the trading community by teaching his knowledge to both new and experienced traders. During this process, he also discovered that he also has a talent for teaching.

It was nice connecting with Navin as we share a common vision for the trading education industry. We both want to make a positive impact. In addition, both Navin and I met our mentors in unexpected circumstances.

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“Learn from your mistakes and do not give up!” – Navin Prithyani

“The reason it took me 6-7 years is: I kept changing my system.” – Navin Prithyani

In This Interview, You'll Learn…

  • How Navin started in trading - by looking for Forex signals
  • The basis behind Navin's technical analysis
  • Navin's trading style today and how it evolved
  • The definition of real supply and demand in the Forex market
  • How to break the psychological barrier that prevents to scale up your trading
  • The power of proper journaling in trading
  • What is the utility of courses in the Forex trading industry (there are so many of them!)
  • How the mentality of most Forex traders is preventing you from succeeding
  • Some keys to trading while traveling
    • Having a morning routine
    • Not looking too much at the charts
  • How most traders miss the big moves in the Forex market
  • The work you must do to see a difference in your trading
  • Whether Navin regrets dropping out of college
  • And much more!

Resources Mentioned

DesireToTRADE Top Resources

How To Find Navin Prithyani?

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Jul 17, 2017

Street Smart: Adventures on the Road and in the Markets – Show Notes

See in your browser: http://desiretotrade.com/101/

In episode 101 of the Desire To Trade Podcast, I interview legendary investor Jim Rogers, a man with an immense passion for the markets and the discovering world. 

Mr. Rogers has been listed in the Guinness Book of World Records twice: once for his 1990-92 world trip covering 100,000 miles across six continents on motorcycle and next for his world trip from 1999-2002 (through 116 countries in a custom-made Mercedes).

Jim Rogers is the author of multiple books, including Street Smart: Adventures on the Road and in the Markets. That book had a big influence on me as Jim describes his experience of traveling through the world while running a hedge fund. It was particularly inspiring to hear about Jim Rogers' adventures around the world, as well as his opinion of Asia vs. America.

Today, Mr. Rogers offers multiple conferences a year, a lot of them being in China. His website contains an updated schedule of his next destinations.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

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"Think independently" - Jim Rogers (click to tweet)

"If you don't know anything to do, do nothing." - Jim Rogers (click to tweet)

"I don't look at technical analysis. I don't really know how." - Jim Rogers

Questions/Topics Covered…

  • Why Jim Rogers moved to Singapore 10 years ago
  • How Mr. Rogers has learned from the market instead of school
  • The lessons Mr. Rogers learned early-on in the markets & why this was a good thing
  • How Jim Rogers survived after losing everything in the market
  • How to spot opportunities in the market
  • Jim Roger's view of Asia & specifically China
  • What to do when traveling to learn from the place you are at
  • How to do strong research for investing
  • The best way to learn according to Jim Rogers & how to keep going
  • The benefits of traveling & the worst times
  • And much more!

Books by Jim Rogers

1994: Investment Biker: Around the World with Jim Rogers.

2003: Adventure Capitalist: The Ultimate Road Trip.

2004: Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market.

2007: A Bull in China: Investing Profitably in the World's Greatest Market.

2009: A Gift to My Children: A Father's Lessons For Life And Investing.

2013: Street Smarts: Adventures on the Road and in the Markets.

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Jul 10, 2017

Success of a Forex Price Action Day Trader – Show Notes

See in your browser: http://desiretotrade.com/100/

In episode 100 of the Desire To Trade Podcast, I sit down with Kim Krompass for a follow-up interview. She previously appeared in episode 46 of the podcast.

Kim Krompass is a Forex price action day trader living in California. She is a great example of what a good day trader is by carefully getting prepared every morning for the trading day.

For this second interview, I wanted to get more details on things that have made Kim a successful Forex day trader. We focused a little more on the tool Kim uses as well as what she thinks aspiring Forex day traders can do to start seeing more results.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

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"Consistency as a trader is a state of mind. Once you understand, that's the day you start to turn around." - Kim Krompass (click to tweet)

Questions/Topics Covered…

  • What is new since the last interview? Has anything changed?
  • What does your day trader morning routine look like?
  • If you were to travel, how would you adapt your day trading activities? Would it be different?
  • What is your favorite trade setup? 
  • How do you handle the bad days that come with trading?
  • As an educator, would you be willing to share your trading results? If not, why? 
  • Do you believe in the value of trading signals?
  • Why do you think some traders still don’t succeed after taking on a trading course/program?
  • And much more!

Resources Mentioned

Kim Krompass' trading journal:

Kim Krompass' trading journal explained

An example of trading results:

https://twitter.com/priceactionkim/status/877619493060591616

Price Action Trader Institute Special Offer

By entering the promo code DTT10OFF, you will get 10% off the membership for the PATI membership.

To Join the PATI Membershiphttps://priceactiontradersinstitute.com/register/pati-full-membership/

DesireToTRADE’s Top Resources

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Jul 3, 2017

Mastering Trading Fundamentals – Show Notes

See in your browser: http://desiretotrade.com/099/

In episode 99 of the Desire To Trade Podcast, I interview Troy Bombardia, a hedge fund manager who trades the S&P 500 ETF's based on quantitative models that combine fundamentals and technicals.

 

What I like a lot about Troy is his emphasis on not being concerned too much by short-term returns. He, with the help of his model, places very few trades a year and has a strong focuses on the long. 

Troy came on the podcast to share about what it's like to run a hedge fund as well as how to interpret the markets (Stocks & Forex) with a fundamental perspective.

He described very clearly how someone can start mastering trading fundamentals in the Forex market by looking at one simple thing: the money flow. In other words, where the money is going.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

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“Work hard, it's not how smart you are. It's about how hard you work” – Troy Bombardia

“If you're not really sure about a trade, don't take that trade.” – Troy Bombardia

In This Episode, You’ll Learn…

  • Starting to trade in high school
  • How Troy manages his trades to capture the big market movement
  • What made Troy decided to go long-term trading the S&P index
  • How to adapt to the currency market & mastering trading fundamentals
  • The Fundamentals you need to understand in Forex
  • How to define the long-term direction of the market & benefiting from it
  • The resources to get your news whenever you need them
  • And much more!

Books Recommended

Market Wizards: Interviews With Top Traders by Jack Schwager

The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C. Bogle

Reminiscences of a Stock Operator by Edwin Lefevre

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Jun 26, 2017

Starting To Trade Professionally With $300,000 – Show Notes

In episode 98 of the Desire To Trade Podcast, I interview Michael Melissinos, a trader who started to trade professionally with $300,000 and now trades for over 30 investors from around the world.

Michael accepted to come on the podcast to share with us how he got started trading professionally at a fairly early age as well as how he progressed and convinced more investors to invest in his trading activities.

He is of the opinion that traders are better to start early. Michael ensured that he was ready to trade for other people by doing a lot of work up-front. That's the key for anyone who's looking to trade professionally.

This is a must-listen interview if you are looking to trade professionally and manage money for other people!

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“Know yourself before you start to trade.” – Michael Melissinos

In This Episode, You’ll Learn…

  • How Michael got his first $300,000 to trade
  • Why Michael didn't want to trade for an institution
  • How to build proper trading system that you trust
  • What a typical day looks like in the life of a long-term trader
  • How Michael handles the tough times (when he doesn't produce money for his investors)
  • How to present your trading to investors so they invest more easily
  • What Michael is doing to improve his trading portfolio
  • And much more!

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What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!

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