Oct 15, 2018
Full-Time Trader Making A Blast In Cryptocurrency Trading
In episode 165 of the Desire To Trade Podcast, I interview full-time trader Houston Truong. He is one of the people that I relate to in trading, who does what I do, is more advanced than I am, and I want to learn from him quite a lot. Houston also started The Montreal Traders Meetup. For the past few months, he has been pushing me to trade cryptos. He started this almost a year ago and had some success with it. Now, this is something he does on a daily basis and something he enjoys.
So I wanted to get his perspective on how to do cryptocurrency trading; how to start, what to look for, and how to go beyond the noise in crypto to be able to succeed in the field, and more.
Watch the video interview here.
Topics Covered In This Episode
- Who Houston Truong is and what he does [3:14]
- Why Houston Truong wanted to go into cryptocurrency trading [4:10]
- How the progression was into cryptocurrency trading [5:51]
- What Houston Truong’s process is when he tries something new and building his methodology [8:28]
- The essential parts to develop as traders [13:40]
- What you need to work on to become a better trader [16:28]
- Traps that traders can get into and what you should do in cryptocurrency trading [19:54]
- Houston Truong’s charting tool that he uses including for cryptocurrency trading [22:49]
- Drawing the balance between enough alignment and too much alignment in cryptocurrency trading [25:19]
- Why Houston Truong enjoys cryptocurrency trading [30:56]
- How he came up with the 5-hour minimum [33:22]
- Dealing with losses [35:18]
- Using your intuition as a good skill to develop in trading [36:49]
- The platforms Houston Truong uses, and using APIs [38:02]
- The reasons why Houston Truong created a meetup for traders [43:08]
- Do your homework to determine where to put your money [49:38]
- Opening a cryptocurrency trading account [50:36]
- How to read the stats and numbers & back testing in cryptocurrency trading [52:04]
- Building a “graduation plan” in cryptocurrency trading [54:02]
- One thing people have to apply this week or this month to become better in trading; understanding three things [55:05]
Resources Mentioned
DesireToTRADE Top Resources
Desire To TRADE Forex Trader Community (free group!)
Complete Price Action Strategy Checklist (free checklist!)
One-Page Trading Plan (free template!)
DesireToTRADE Academy (exclusive training program)
How To Find Houston Truong?
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!