Sep 18, 2017
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!
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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
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.
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.
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!
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!
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.
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!
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!