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

This podcast is all about developing Forex trading skills for more freedom! My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom. What you must know: I'm all for trading foreign exchange, but I think freedom is much more important than time spent in front of your computer. I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for! 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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May 8, 2017

In episode 91 of the Desire To Trade Podcast, I interview Mike Tedeschi, a day and swing trader running a portfolio as well as a trading chatroom. At the time of the interview, he has been trading for himself for over 6 years.

Mike looks at the investment world through a contrarian lens. By going against the herd, he positions himself to achieve the largest possible returns in the quickest time frame with the least amount of risk.

One of the topics we touch on is the need for a trading plan. Mike, like me, has also been developing a trading playbook that contains multiple trading strategies he uses on a daily basis based on how the market moves.

We also touched on the topic of trading alerts. As the main takeaway, you can make money in the market without being involved in the market at all times. There are times when the market isn't producing anything worth trading and that is where you need to be able to step away. There are absolutely no reasons to go in the market when there are no trades.

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Share This! Top Quotes From This Interview

"Prices are never too high to begin buying or too low to begin selling" -Jesse Livermore

"If you can't make money on the leaders, you can't make money in the market"

If you treat trading like a hobby it's going to pay like a hobby.

There are no reasons to go in the market when there are no trades.

In This Episode, You’ll Learn…

  • How Mike started to trade from Japan
  • The types of mistakes traders make at the beginning
  • The 3 most important aspects of trading
  • How to overcome the fear of losing money
  • The analogy of flipping a coin in risk management
  • EXACTLY how Mike trades intraday and swing
  • How Mike uses a trading plan, playbook, and checklist
  • The types of behaviours that are costing most money to traders
  • Why Mike doesn't give that much importance to backtesting
  • Why you can't rely on news to trade at all times
  • Why you can't look at the market as an ATM
  • How to avoid trading all the time - how to use alerts like a pro!
  • How to increase your ratio of successful trades
  • And much more!

Resources Mentioned In This Interview

  1. FINVIZ: a free financial visualization tool (i.e. mostly stock screener)

DesireToTRADE’s Top Resources

How To Find Mike Tedeschi?

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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