Info

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.
RSS Feed Subscribe in Apple Podcasts
Desire To Trade Podcast | Forex Trading Tips & Interviews with Highly Successful Traders
2017
October
September
August
July
June
May
April
March
February
January


2016
December
November
October
September
August
July
June
May
April
March
February
January


2015
December
November
October
September


All Episodes
Archives
Now displaying: 2016
Dec 26, 2016

Chris Claflin: Multiple Market Trader

Episode 72 of the Desire To Trade Podcast is part of the Holiday special, during which I'm bringing back guests I've had previously on the podcast. I selected guests that had made an impact on me throughout the year.

In this episode, I interview Chris Claflin, a multiple market trader, who is currently involved in futures and Forex.

>> Listen to the first episode with Chris Claflin

Chris started being more involved in the Forex market during the past few months. That makes him a multiple market trader.

Throughout this interview, he shared his 5 keys to successful trading. Those apply in any market. In addition, we discussed some of the techniques Chris uses to trade on more than 1 market. The goal is to make trading multiple markets not too confusing.

Patience is also a topic we dive onto as many traders I talk with are finding it difficult to remain patient and accept that successful trading takes time & effort.

Share This!

[bctt tweet="When you see the market as risk, reward, and money, it gets much less confusing." username="DesireToTrade"]

In This Episode, You'll Learn...

  • Why Chris started to trade currencies.
  • Specific trading routines that give results.
  • Chris' 5 key for successful trading & how traders fail at not following them.
  • How being patient can help you.
  • Managing your risk in trading (the proper way).
  • Chris' challenge to make $1M before 30 and the reasoning behind it.
  • And much more!

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

DesireToTRADE's Top Resources

How To Find Chris Claflin?

About The Desire To Trade Podcast

Dec 22, 2016

In this Q&A episode, I discuss the idea of relying on luck to make money as a trader. This is obviously a bad way to go about things even though several struggling hope their trades will work out without defining a process or a system.

The advice shared in my Facebook Live Q&As are based on my own experience and the interviews I had with multiple successful traders on the Desire To Trade Podcast.

Removing Luck & Simple Ways To Win In The Forex Market

Once you've removed luck from your trading, do not fall into the trap of adding an unlimited amount of variables to your trading strategy. A lot of traders think they must find the perfect way to make money in the market...

That is not your job.

You and I, as Forex traders, need to make our plan as simple as possible. That is the primary reason why I use a One-Page Trading Plan.

In my opinion, there's no need to look at other markets to confirm a trade you're about to place. In addition, if you are a technical trader, you do not need to spend hours trying to interpret the news in the Forex market.

If you want to trade multiple timeframes, do not make the mistake of looking for trades on all time frames at all times. That's not the way it works. I explain how I do multiple timeframe analysis in this podcast episode.

 

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

DesireToTRADE’s Top Resources

About The Desire To Trade Podcast

Dec 19, 2016

Houston Truong: Holiday Special with A Full-Time Retail Trader

Episode 71 of the Desire To Trade Podcast is part of the Holiday special, during which I’m bringing back guests I’ve had previously on the podcast. I selected guests that have made an impact on me throughout the year.

In this episode, I interview Houston Truong, a full-time retail trader who, in the past year, left his job to concentrate only on his activities as a stocks trader.

Houston has made an immense impact on me. He was the one who inspired me to start the Desire To Trade Podcast in September 2015. He also taught me a lot about routines, mindset, and peak performance.

>> Listen to the first episode with Houston Truong

I currently co-host the Montreal Traders Meetup with him, through which we set up in-person events for traders monthly.

In this interview, Houston and I went back to reflect on the year, the one in which Houston left his job. We also discussed how someone has to go about leaving his job to trade full-time.

Houston is particularly concerned about the topic of continuous learning. Unfortunately, we’ve seen many traders who become consistent, and then stop learning forever. That is not a very wise way to go about it. Instead, traders from all ranges of experience should keep feeding their minds with useful information to keep growing.

It is a fact that markets change, and that makes it necessary for traders to adapt.

Share This!

@RealTradingEdge is back on the @DesireToTrade Podcast for a Holiday special! CLICK TO TWEET

Knowledge shouldn't be an end. Prioritize skills over knowledge. @RealTradingEdge CLICK TO TWEET

In This Episode, You’ll Learn…

  • The things Houston has been doing in the past year.
  • How to set up a trading office & the benefits.
  • The steps Houston took to leave his job.
  • How to continually challenge yourself.
  • How to build competence as a trader.
  • Why it’s essential to keep learning & how to do it.
  • What’s the special Holiday giveaway Houston organizes (exclusive for the Desire To Trade Podcast!).
  • And much more!

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

Holiday Giveaway (until Jan. 2nd, 2017)!

DesireToTRADE’s Top Resources

How To Find Houston Truong?

About The Desire To Trade Podcast

Dec 15, 2016

In this Q&A episode, I discuss the 5 things I believe all traders must know before starting to trade Forex. Those 5 keys to trading are summarized below.

The advice shared in my Facebook Live Q&As are based on my own experience and the interviews I had with multiple successful traders on the Desire To Trade Podcast.

5 Things You Must Know Before Starting To Trade Forex

I wanted to share those 5 things you must know as they are often overlooked. Looking back at my trading, those are things that would have helped me without a doubt.

#1: Track Every Single Trade

If you do not track, you have no way to go back and find ways to trade better. That is the reason why I recommend you start tracking every single one of your trade from now on (no matter what). If you take bad trades, track them. If you take trades that do not respect your plan, track them. And obviously, do not stop to track when things are going well.

And obviously, do not stop to track when things are going well. Keep it going!

#2: Trading Is A Game Of Probability

It's not because you read about a strategy and implement it flawlessly that you will see success. It is well-known by most experienced traders that any trading strategy goes through a period of consecutive losses. At that point, you need to remind yourself that trading is a game of probability.

That being said, you can have a general idea of the win rate your strategy is expected to have, but you can never know how many losses you'll have to go through before you reach the win rate you expected from the start.

#3: Trading Comes Down To 3 Simple Types Of Trades

No need to complicate trading. Most often, when traders feel overwhelmed, it is due to the fact that they try trading everything at the wrong time. By focusing on understanding the types of trades, and then selecting one you'll learn to trade, you will be able to bring back a great chunk of the simplicity that surrounds Forex trading.

Successful currency trading, after all, is about focusing on certain types of trades, and placing the odds in your favor (see #2).

#4: Testing Builds Confidence

The only way to build confidence as a trader is to see results. Those results can either come from a live trading account or from testing. The ladder is much less stressful, so I recommend you focus on testing before you ever put real money in a trading account.

The more you look at charts containing examples of your trading setup, the more familiar you get with your setup. You no longer worry about whether your trading strategy works or not because you've seen more than enough trade examples. Testing definitely builds confidence. If you do not feel confident about your trading strategy, you haven't done enough testing.

#5: The More You Automate, The Easier It Gets

You do not need to create an algorithmic trading system that will replace you, but you absolutely need to understand the importance of creating successful trading habits. Those are things you do every time without thinking because you have created a routine.

Good examples of automation could be:

  • Placing a stop loss when you enter a trade
  • Review your trades every Sunday
  • Look at the news prior to entering a trade
  • And much more...

The way you want to go about creating habits is to do the action several times until you no longer have to think. You might want to start by placing a reminder on your screen until you no longer need the reminder. That has been a wonderful trick for me!

 

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

DesireToTRADE’s Top Resources

About The Desire To Trade Podcast

Dec 12, 2016

Moritz Czubatinski: A Successful Trader Traveling Around The World

In episode 70 of the Desire To Trade Podcast, I interview Moritz Czubatinski, a Forex and futures trader currently living in Hong Kong. What I find really interesting about Moritz is that he has been able to travel the world while trading. That is definitely one of my personal goals (I’ll keep you updated!).

Interestingly enough, Moritz transitioned from his career as a professional Poker player to a full-time trader traveling the world. However, he had to go through an office job in Beijing in-between.

He is also the founder of the blog Tradeciety along with Rolf.

Moritz places a particular emphasis on trading journals. For him, having a journal is essential to successful trading. In fact, “I’ve never seen a profitable trader without a trading journal.’, he says. It is for that reason that Moritz created Edgewonk, a trading journal software.

Share This!

I've never seen a profitable trader without a trading journal. - @tradecietymc CLICK TO TWEET

Motivation comes from doing. - @tradecietymc CLICK TO TWEET

In This Episode, You'll Learn...

  • How Moritz started to trade Forex and futures.
  • How he transitioned from playing Poker to trading full-time.
  • How the futures market differs from Forex.
  • What's the easiest way to trade while traveling
  • How Moritz left his job to trade
  • The best single piece of advice you need to live from trading
  • The things Moritz has to put in place to see trading results faster
    • Moritz uses a "Sirtfood Diet". Learn more here!
  • Everything you need to learn about trading journals
  • And much more!

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

Resources Mentioned

DesireToTRADE's Top Resources

How To Find Moritz?

About The Desire To Trade Podcast

Dec 8, 2016

Day Trading Forex: How To Stop Impulsive Trades Before They Occur

In this Q&A #7, I discuss the topic of impulsive trading, especially for people who are day trading Forex. In addition, I go through the 3 questions I ask myself weekly to identify the problem I face in my trading, and how to overcome them. That has made an immense difference.

The advice shared in my Facebook Live Q&As are based on my own experience and the interviews I had with multiple successful traders on the Desire To Trade Podcast.

This episode ends with a quick discussion on trading beliefs. Those can either make you broke or rich. Therefore, I suggest you spend some time evaluating your beliefs. A good way to start would be to listen to my interview with Dr. Van Tharp as he describes the belief examination process he makes his students go through.

In This Episode, You'll Learn...

  • What are impulsive trades
  • The simple question that will keep you out of bad trades
  • The 3 questions to evaluate your progress & get consistent profits faster
  • Why your beliefs can make you a broke trader - and how to change that!

Share This

[bctt tweet="I've never seen a book telling you to surround yourself with other traders, yet it's so crucial" username="desiretotrade"]

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

Resources Mentioned

DesireToTRADE’s Top Resources

About The Desire To Trade Podcast

Dec 5, 2016

Anmol Singh: Mindset & Technical Keys To Trading Income

In episode 69 of the Desire To Trade Podcast, I interview Anmol Singh, a stock, and Forex trader. The thing I find interesting about Anmol is the efforts he puts to trade those two markets both intraday and swing.

In short, this interview is packed with very tactical and comprehensive tips in regards to trading routines and the “how-to-trade” aspect. However, Anmol surprised me by sharing great advice on building a mindset that will help you generate an income from trading.

I sincerely believe that the way to improve the most consists of improving your mindset and state of mind prior to trading. Anmol had great tips on that.

Overall, one of the biggest lessons you can get from this interview is the power of walking away from your trading desk. Often times, you are much better removing yourself from the equation and leaving the market do its job. Your job as a trader is to accept the loss or profit and to keep executing as you should. You shouldn’t be there to watch every single move the market does as this will often push you to act or feel stressed. It’s simply counter-productive.

Share This!

Return on your investment is way more important than return on your ego!. @DeltaNinetyCLICK TO TWEETYou can either pay for knowledge of for not having enough of it. @DeltaNinetyCLICK TO TWEET

In This Episode, You’ll Learn…

  • How Anmol Singh started to trade both stocks and currencies.
  • Specific trading routines that give results.
  • How to get yourself into the right trading mindset.
  • How to use reward & punishment – concrete examples that work.
    • “Treat yourself like a dog” :)
  • The backtesting, forward-testing, and tracking basics.
  • The power of walking away from your trading desk.
  • The differences between stocks and Forex trading.
  • The biggest challenge Anmol faced in trading.
  • And much more!

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

Resources Mentioned

DesireToTRADE’s Top Resources

How To Find Anmol Singh?

About The Desire To Trade Podcast

Dec 1, 2016

ONE Simple Thing To Improve Your Trading & Using Candlesticks In Forex Trading

Every Friday, I host a live Forex Trading Q&A on Facebook.

In this Q&A #6, I discussed the ONE thing you can do to improve your trading quickly. In addition, I discuss the use of candlesticks in the Forex market.

This is based on my own experience.

As a matter of fact, I met a fellow trader in person for the first time around the month of June 2015 and that has made a significant impact on myself and my trading. It is also one of the major reason why I started the Desire To Trade podcast.

When it comes to candlesticks, I believe that traders spend too much emphasis on the candle close. That might be useful on a high timeframe but it doesn’t mean much on a very low timeframe.

In This Episode, You’ll Learn…

  • Algorithmic vs. Manual Trading
  • ONE Simple Thing You Can Do To Improve Your Trading Quickly
  • My Take On Using Candle Close To Trade
  • Using Market Sentiment In Your Trading

Share This

I've never seen a book telling you to surround yourself with other traders, yet it's so crucialCLICK TO TWEET

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

Resources Mentioned

DesireToTRADE’s Top Resources

About The Desire To Trade Podcast

Nov 28, 2016

Jean-François Boucher: Trading Tips From A Forex Scalper

In episode 68 of the Desire To Trade Podcast, I interview Jean-François Boucher, a Forex scalper located in Jasper, Alberta.

Jean-François started to trade stocks in the 90s as he worked for IBM. After losing countless amounts of money in options, he discovered the Forex market.

What I particularly like about Jean-François is his down-to-earth approach to trading. As a matter of fact, he knows there are no tricks to succeed quickly in trading. You must put in the work.

He also mentions a crucial fact, that is, risking 1% per trades allows you to come back. While we often see people risking way more than that, Jean-François’ advice is still very important. You can’t expect to increase your risk too high and stay in the game of trading for very long.  As traders, we are professional losers, so we better account for that.

Jean-François says: “it always starts small”, and that is the mindset you need to have if you want to see progress without blowing up countless trading accounts.

Share This!

You are your own holy grail. - Jean-Francois Boucher CLICK TO TWEET

Stay 99% flat always. Put 1% on your trades. - Jean-François Boucher CLICK TO TWEET

In This Episode, You’ll Learn…

  • How Jean-François first got involved in the Forex market.
  • The advantages of trading the Forex market.
  • How to go through the different phases of trading.
    • Losing money, breaking even, making some money, making tons of money.
  • How to remove (or reduce) indicators from your trading.
  • What the world looks like for a scalper.
  • How to scalp the market effectively.
  • An interesting way to journal about your trades.
  • The problem with trading robots
  • Very important money management rules no one mentions.
  • And much more!

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

DesireToTRADE’s Top Resources

How To Find Jean-François Boucher?

About The Desire To Trade Podcast

Nov 23, 2016

2 Reasons Why Traders Blow Up Their Accounts & The Power Of Consistency

Every Friday, I host a live Forex Trading Q&A on Facebook.

In this Q&A #5, I discussed reasons why traders blow up their accounts. This topic came up after I had multiple people reaching out to me, as they felt discouraged saying they blew up their trading accounts.

In the end, there are only 2 reasons this can happen:

  1. You risk too much on any given trade (money management).
  2. You have no tested plan.

As much as aspiring traders want a quick & easy solution, there's no need to complicate things here.

Create a plan, test it, and ensure you have a way to stay in the trading game (hint: not risking too much money on any trade).

A good way to put down your trading plan is with my One-Page Trading Plan Template (you can download it for free!).

The second topic covered in this Q&A is consistency.

Simply put, most struggling traders aren't consistent and focus solely on making money.

However, once you become consistent in trading, doors open to you. As a matter of fact, I was able to trade for investors and other people because I had that consistency

In This Episode, You'll Learn...

  • 2 Main Reasons Why Traders Blow Up Their Trading Accounts
    • How To Create Your Trading Plan In A Very Short Period
    • The Money Management Guidelines I Follow
  • How To Exponentially Grow Your Consistency In Trading

Share This

"The holy grail of trading is consistency. Become consistent and doors will open to you." -> Click to tweet!

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

Resources Mentioned

DesireToTRADE’s Top Resources

About The Desire To Trade Podcast

Nov 21, 2016

Kevin Davey: Building Winning Algorithmic Trading Systems

In episode 67 of the Desire To Trade Podcast, I interview Kevin Davey, an algorithmic trading system builder, and trader. He is the author of a very well written book on the topic titled Building Winning Algorithmic Trading Systems.

The number of trading systems developed by Kevin is impressive. At the time of recording the interview, he had 95 trading strategies.

Over his 25 years of experience, Kevin has been developing, analyzing, testing and creating trading strategies in every futures market from the e-mini S&P to crude oil to corn to cocoa. At the moment, he trades full-time for his own personal account, while helping traders around the world see more results in their trading.

Kevin contributed to the excellent trading book The Universal Principles of Successful Trading by Brent Penfold, where he was featured as a “Market Master.” That book was part of my list The Forex Trading Books That Incredibly Improved My Own Trading

 

In This Episode, You'll Learn...

  • How Kevin started with automated systems trading
  • How he lost $1,500 on a $5,000 account in a single week!
  • The myth of algorithmic trading & trading psychology.
  • The step-by-step process Kevin uses to build winning algorithmic trading systems.
  • The main tasks of an automated system trader.
  • How Kevin was able to build several algorithmic trading systems.
  • What most traders do wrong when trying to create a trading system.
  • And much more!

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

Resources Mentioned

DesireToTRADE's Top Resources

How To Find Kevin Davey?

About The Desire To Trade Podcast

Nov 17, 2016

Forex Trading Q&A: You Cannot Predict News in Forex & Improving Your Trading

This is a Live Forex Trading Q&A I hosted. We discussed very important topics that you can surely learn about.

Join the Facebook group: www.desiretotrade.com/group/

 

Nov 14, 2016

Georges Papasov: Precise Ways To Improve Your Trading Skills

In episode 66 of the Desire To Trade Podcast, I interview Georges Papasov, a trader from Bulgaria 

George Papazov started trading in his teenage years, fueled by his father’s inspiration and propelled by the desire to achieve his wildest dreams. As a teenager he designed and implemented a foreign exchange strategy which generated over 50% annualized returns, beating the Barclay’s Currency Trader Index for 5 consecutive years.

After finishing his degree in financial planning, George worked as a trader in one of the top six banks in Canada for over 5 years.  He gained invaluable experience and insights into market psychology, trading technology, order flow management and was then hired to train thousands of financial advisers on investment strategies.

Then, he started the TRADEPRO Academy, a place where Georges aspires to educate and empower individuals to become successful traders.

Share This!

"You want to succeed in trading? Stay at it!" - Georges Papasov (Click To Tweet)

 

In This Episode, You'll Learn...

  • How Georges transitioned between markets to find his way
  • How to develop patience as a trader
  • How to prevent yourself from chasing trades
  • How Georges tracks his trades
  • One simple question you can ask yourself to stay out of bad trades
  • The skills you need to develop as soon as possible to move forward
  • And much more!

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

DesireToTRADE's Top Resources

How To Find Georges Papasov?

About The Desire To Trade Podcast

Nov 9, 2016

Trading Strategies For Trending Markets - Part 3

Trading Strategies For Trending Markets

In episode 64 of the Desire To Trade Podcast, I decided to discuss a very popular topic: defining a trading strategy. I recorded a 3-part Guide To Forex Trading Strategies so we can set you up with a plan as soon as possible.

Part 1 is available here!

Part 2 is available here!

I've seen a lot of traders trading with absolutely no plan expecting they would succeed, so I want to make sure I address this topic.

In fact, you've probably already heard the saying "trading is simple but not easy", right? Well, it is when you have a plan and a strategy to execute on.

I agree that executing on that plan will be the hardest part, but we have to cover things step-by-step here.

In Part 3 of the Guide To Forex Trading Strategies, I'm explaining how to trade in a trending market. That can be a highly profitable type of trading, especially due to the fact that trends are usually strong in the Forex market.

 

What's Covered In This Episode?

  • How to identify a trend
  • What areas you can consider trading in a trend
  • The indicators that can help you trade pullbacks/retracements
  • What to expect in trend trading
  • Keys to make any trading strategy more profitable
  • And much more!

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

Resources

DesireToTRADE's Top Resources

About The Desire To Trade Podcast

Nov 7, 2016

Timothy Sykes: How To Turn $12,000 into $2,000,000 & Perform Like A Trader

In episode 65 of the Desire To Trade Podcast, I interview Timothy Sykes, a stocks trader, world traveler and teacher. He has made a massive impact and contribution to the trading education worldwide by having thought over 6,000 students to trade penny stocks. Timothy has been one of the traders I looked up to as I opened my first trading account.

His opening quote hit me. According to Timothy, we make things way more complicated than they are and we spend a lot of valuable time caring about unnecessary details. Like me, however, Timothy is of the opinion that there are no get-rich-scheme. He attributes hard work & dedication to his success in penny stocks trading.

What is fascinating with Timothy is that he records a video for his students almost daily (even while traveling). Upon recording this interview, Timothy just got back from the Amalfi coast, one of the places he frequently travels to. There's something to be mentioned about the great lifestyle and freedom Timothy has been able to build from trading.

 

In This Episode, You'll Learn...

  • How Timothy went from $12,000 to $100,000 to then $2,000,000.
  • How any trader can trade and travel fairly easily!
  • How Timothy detects the right stocks and trades them.
  • The REAL reason why Timothy posts about his lifestyle (cars, trips, money, etc.).
  • How to push yourself to grow as a trader.
  • And much more!

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

Resources Mentioned

DesireToTRADE's Top Resources

Nov 2, 2016

The Guide To Forex Trading Strategies - Part 2

Show notes: http://www.desiretotrade.com/guide-to-forex-trading-strategies-part-2/

In episode 64 of the Desire To Trade Podcast, I decided to discuss a very popular topic: defining a trading strategy. I recorded a 3-part Guide To Forex Trading Strategies so we can set you up with a plan as soon as possible.

Part 1 is available here!

I've seen a lot of traders trading with absolutely no plan expecting they would succeed, so I want to make sure I address this topic.

In fact, you've probably already heard the saying "trading is simple but not easy", right? Well, it is when you have a plan and a strategy to execute on.

I agree that executing on that plan will be the hardest part, but we have to cover things step-by-step here.

In Part 2 of the Guide To Forex Trading Strategies, I'm explaining how to trade in a sideway market. That is where I do most of my trading. I explain how you should go about trading breakouts and reversals and the type of indicators I use to trade in that environment.

Resources

DesireToTRADE’s Top Resources

About The Desire To Trade Podcast

 

Oct 31, 2016

The Guide To Forex Trading Strategies - Part 1

Show notes: http://wp.me/p6qxZI-17Z

In episode 64 of the Desire To Trade Podcast, I decided to discuss a very popular topic: defining a trading strategy. I recorded a 3-part Guide To Forex Trading Strategies so we can set you up with a plan as soon as possible.

I've seen a lot of traders trading with absolutely no plan expecting they would succeed, so I want to make sure I address this topic.

In fact, you've probably already heard the saying "trading is simple but not easy", right? Well, it is when you have a plan and a strategy to execute on.

I agree that executing on that plan will be the hardest part, but we have to cover things step-by-step here.

In Part 1 of the Guide To Forex Trading Strategies, I'm giving you a quick introduction of what type of strategy you can trade. In the next parts of this series, we'll deal with specific indicators you can use as well as how to read price movements.

 

What's Covered In This Episode?

  • The concept of market phase
  • The 3 types of trades
  • When you should consider each of the trade types (based on the market phase)
  • What to expect as win rate and reward-to-risk for various Forex trading strategies
  • The top mistakes traders make when defining a strategy
  • And much more!

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

DesireToTRADE's Top Free Resources

Oct 24, 2016

Raman Gill: The Process & Mistakes Behind A Successful Forex Day Trader

In episode 63 of the Desire To Trade Podcast, I interview Raman Gill, a Forex trader, investor, and coach that first got introduced to the currency markets in 2009. She then found her passion and felt in love with trading.

Raman founded Trading with Venus in 2014 where she works with those new to trading, helping them make better, more informed, decisions about trades so they can take consistent action to achieve their financial goals. She also works with successful female entrepreneurs, helping them with investing to accelerate their wealth creation and enabling them to achieve financial security and freedom.

Raman previously worked at one of the largest financial institution in North America where she held a variety of management roles over the years. Most recently, she was a Portfolio Manager in Mergers & Acquisitions area, where her team was responsible for due diligence on deals ranging from $50MM to multiple billions of dollars in both US and Canada.

Prior to working in finance and investments Raman owned an IT consulting business, for 10 years, which she subsequently sold. Raman has a Bachelor's degree in Computer Systems and MBA degrees from Johnson School of Business, Cornell University in the US and Queens University in Canada.

 

What's Covered In This Episode?

  • How Raman learned the fastest in trading
  • How Raman got introduced to trading
  • The biggest mistake Raman made while trading full-time (be careful!)
  • The exact Forex day trading process Raman follows
  • How to prepare the right way before trading
  • How Raman intends to trade the London session (read When To Trade Forex To Maximize Your Lifestyle & Profit?)
  • The "windy" truth about trading & the benefits
  • Getting accountability in your trading for better results
  • And much more!

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

Resources

DesireToTRADE's Top Resources

How To Find Raman Gill?

About The Desire To Trade Podcast

Oct 17, 2016

Brian McAboy: Succeed In Your Forex Trading Business

In episode 62 of the Desire To Trade Podcast, I interview Brian McAboy, an experienced trader, trading coach, and business consultant with a passion for helping traders understanding the business aspect of trading.

I was pleased to go through Brian's book titled "Trading Psychology's Missing Chapter: Enough To Be Dangerous". I couldn't put the book down as I absolutely could relate.

Overall, Brian is very knowledgeable when it comes to transform topics seen as complicated & boring by most traders into easy-to-implement tactics.

 

Topics Covered - Brian McAboy

  • How Brian turned $30,000 to $47,000 and went down to nothing
  • Brian's top difficulty in trading
  • The very first step of trading most traders miss
  • Your multiple roles as a trader & wearing the hats
  • How & why to set your parameters as a trader
  • What 4 tactics you can implement to treat trading as a business
  • The 2 learning curves of a trader (how to trade + how to work for yourself)
  • Why you must document your trading system
  • The guidelines for discretionary trading
  • And much more!

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

Resources Mentioned

DesireToTRADE's Top Resources

Oct 10, 2016

Carley Garner: All You Need To Know About Commodity Trading

Show notes: http://www.desiretotrade.com/carley-garner/

In episode 61 of the Desire To Trade Podcast, I interview Carley Garner, a commodity and option trader. She is the woman behind DeCarley Trading, an award-winning commodity broker.

Carley have been in the trading business for over 12 years and started with options from day 1.

Carley mentions that option trading is done at a slower pace than other assets such as Forex, stocks, and futures. 90% of options expires worthless. We also discuss option selling, a way to make money on a higher probability with unlimited risk. As an option buyer, the risk is limited but the probability of making a profit is smaller. 

Pieces Of Advice

"Be fearful when others are greedy and greed when others are fearful." CLICK TO TWEET

"There's not a right or wrong way to trade, just the one you're comfortable with." - @CarleyGarner CLICK TO TWEET

Topics Covered – Carley Garner

  • How being contrarian can make you a great trader
  • Why optons are interesting to trade
  • How to trade commodities
  • How option selling works
  • The biggest mistakes Carley made in trading (good anecdote!)
  • The best to start trading options
  • How to limit your risk with options
  • Decision process of an option trader
  • The main commodities traded by Carley
  • The main mistakes beginners make (i.e. the lasting power)
  • And much more!

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

Oct 3, 2016

Adam Grimes: Building Your Edge In Any Financial Market

Join the Facebook group for more free resources

In episode 60 of the Desire To Trade Podcast, I interview Adam Grimes, a stock, futures and currency trader with a formal education as a musician. Adam trades for a living and is also behind his personal blog.

He started in Futures trading several years ago and was over-leveraged.

Adam reminds us that there are countless ways to make money in the market, but that a trader's method must be defined in advanced. While a lot of traders rely blindly on trading psychology, Adam highlights the fact that having a proven system is essential from the start.

During this interview, Adam mentions one thing I have noticed from discussing with struggling traders. Most traders who do not have consistent results haven't even tested their systems but want to believe that their system work.

Topics Covered - Adam Grimes

  • Why common trading advice can be wrong
  • The technical analysis concepts that don't have an edge
  • How quantitative trading works
  • Reliance on trading psychology and its effect
  • How to find your edge in the market
  • How you can fail to trade successfully with a backtested system
  • How to use discretion in your trading
  • How to adapt your strategy to several markets
  • The FIRST stage of success - Very important!

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

Resources Mentioned

If you truly want to succeed in Forex trading, 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.

Get the Forex Day Trading Success Cheat Sheet for FREE!
http://www.desiretotrade.com/day-trading-success-cheat-sheet/

Check out the Desire To Trade Podcast - Trading Tips & Interviews with Successful Traders: http://www.desiretotrade.com/podcast/
iTunes: http://www.desiretotrade.com/itunes/
Stitcher: http://www.desiretotrade.com/stitcherpodcast/

For a lot of article and tips that will help you become the best trader you can be: http://www.desiretotrade.com

Sep 26, 2016

Albert Maté: Trusting Your Vision And Taking Action To Create A Winning Trading System

Show notes: www.desiretotrade.com/albert-mate/

In episode 59 of the Desire To Trade Podcast, I interview Albert Maté, a good friend of mine in Montreal who, after being involved in the trading world for several years, is working on a very interesting algorithmic winning trading system.

Albert started in scalping. He was trying to make less than a few cents by himself in a Montreal firm called Swift Trade. As his learning curve was fairly flat in the beginning, Albert learned things the hard way through the 2000's bubble. He ended up taking a break off trading, which was a very sound decision.

According to a statistic mentioned by Albert, 85% of portfolio managers aren't able to beat the S&P500. That is a key figure to keep in mind.

Albert's trading system performance is available on his website Albitrading.com.

Although I thought this interview would be mostly useful for algorithmic traders, the conversation moved to a topic useful to any type of trader: how to find financing to trade. While it's good to trade your capital, sometimes having "outside money" can be of great help to achieve your goals. You just need to do te work and follow the steps outlined by Albert in this interview.

Topics Covered - Albert Maté

  • Why you need to have a vision
  • How to "go through the storm" as a trader
  • Why Albert decided to move to an algorithmic trading system
  • The exact steps to create a trading system (any type)!
  • How to know when to trade your strategy live
  • How to obtain financing for your trading

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

Sep 19, 2016

Paul Wallace: Peak Performance And Trading Success

Read the show notes: www.desiretotrade.com/paul-wallace/

In episode 58 of the Desire To Trade Podcast, I interview Paul Wallace, a trader with a high emphasis on peak performance located in London, UK.

After a career in the Royal Air Force Paul started trading whilst working in the City during the dot-com boom of the late nineties.

Paul is a professional financial trader with more than 24 years’ experience working in competitive, results-driven, performance environments. He has experience trading both as an individual and for funds.

Paul has always been fascinated by success, achievement and peak performance, whether on the battlefield, sports-field, boardroom or financial markets. He blogs about his own trading at FXTraderPaul.com.

He also runs the trader support practice, Tradingbeliefs, helping traders manage and improve their overall performance.

 

Fear-Based Traders (FBT) vs. Greed Based Traders (FBT)

Fear-based traders must have a simple system and know exactly what they must do. You must ensure to eliminate doubts and be certain regarding when to pull the trigger. They are likely to avoid pulling the trigger in the face of small hesitations.

Most Greed-based traders are normally bad risk managers as they are looking to get more out of the market. They must still have a simple trading strategy.

The 3 Crucial Components

Process: having a checklist you can rely to (like a plan pilot). Find out more about it in Creating Your Forex Trading Strategy Playbook

Discipline: "being disciplined is part of the job description for being a world-class trader." If you aren't disciplined, you might need to re-evaluate whether you really want to trade.

Self-Awareness: use your mistakes as an opportunity to learn by reviewing your performance.

 

Topics Covered - Paul Wallace

  • Paul's take and prediction on Brexit
  • A real explanation of a popular trading quote
  • Paul's main trading strategies
  • How Paul went from a Air Force to trading
  • Why veterans are great traders
  • The Process - Discipline - Self Awareness crucial components
  • The importance of de-briefing
  • Figuring out if you are a Greed-Based Trader (GBT) or Fear-Based Trader (FBT)
  • Managing expectations
  • And much more!

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

 

Sep 12, 2016

Van Tharp: Transforming Traders Through Their Beliefs

Show notes: www.desiretotrade.com/van-tharp/

In episode 57 of the Desire To Trade Podcast, I interview Dr. Van Tharp, a very well-known leader of the trading industry.

From the start, Dr. Van Tharp has, very similar to me, a desire to have an impact. That is something I admire a lot.

During the interview, Dr. Van Tharp asked me about my own beliefs and we went through the "belief examiner" process, which has been very interesting for me. This has been a key elements for traders' transformations.

Trading mistakes are an important part of this interview. Dr. Tharp says traders should aim for 100 trades with a 95% compliance to their rules.

 

 

Topics Covered - Dr. Van Tharp

  • How Van Tharp has transformed traders
  • What is a successful trader
  • How beliefs influence all traders
    • You always trade your beliefs. The market is only a representation that we interpret based on what we think.
    • No belief is 100% useful, they are only useful in a context.
  • Keys to reach a higher level in trading
  • The "belief examiner" process
  • Position sizing strategies
  • You should write down your rules and track when you don't respect them
    • Looking at what your mistakes cost you.
  • And much more!

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

1 2 3 Next »