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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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Now displaying: May, 2016
May 30, 2016

Trade Like A Casino w/ Richard Weissman

"Trade like a casino" sounds like an awesome idea, right?

After all, what do casinos do? They have a system/strategy to ensure that they are going to have an edge over the long-run.

Does that mean the casino is going to win every poker game? Not at all, but over time, it is almost guaranteed to make money.

In episode 42 of the Desire To Trade Podcast, I interview Richard Weissman, the author of Trade Like A Casino and a number of different trading-related books that showcase a very insightful and researched methodology to trading.

The interesting thing about Richard is that he focuses a lot on research and backtesting. That allows him to develop mechanical trading systems that he is then able to use with a positive expectancy.

During this episode, Richard and I discuss what it means to "trade like casino" and how traders can apply this principle in their trading. It's not only about the trading strategy, but also in regards to emotions and psychology.

These days, Richard focuses on his role as the CEO of CNV Capital Management, focusing on trading and system development.

 

Question & Cheat Sheet - Richard Weissman

  • What it means to "trade like a casino" & why it's crucial
  • How to reach the level of trading like a casino
    • Doing research
    • Having a mechanical trading system
    • Building confidence
  • The types of strategies used by great traders
  • How to backtest properly
  • Discretionary trading like a casino
  • 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!

The music at the end of the podcast has been produced by Daniel Hoshor. If you want custom & tailor-made music for your business, make sure to check him out at www.thedannyboiexperience.com.

Visit the show notes!

To know more about what I've been working on: http://www.desiretotrade.com/new

 

May 23, 2016

All You Need To Know About Forex News Trading w/ Yohay Elam

If you have been trading Forex for a while, you probably noticed the, sometimes, big spikes in the price of certain currency pairs. As a matter of fact, news reports are released almost every single day and the market tend to react strongly to them.

A quick advice: if you aren't aware of this, you NEED to listen to this podcast episode!

In episode 41 of the Desire To Trade Podcast, I interview Yohay Elam, the founder of Forex Crunch and host of Market Movers.

Yohay is very knowledgeable when it comes to fundamental analysis and what affects the currency market. He shared in great details what Forex traders can expect from news releases and what they have to look for. 

Yohay studied computer science, but learned about the Forex market mostly by himself through books and other self-education resources. He then started exchanging his ideas and view of the market with other people, an activity that proved itself to be very useful.

Today, Yohay publishes his analyses on his website and hosts a podcast where he shares what took place in the financial market.

[bctt tweet="Do not risk more than 2% of your trading account! from @forexcrunch" username="DesireToTrade"]

Question & Cheat Sheet - Yohay Elam

  • The news impacting the Forex market
    • Full list in Top 5 News Releases You Should Care About As A Forex Trader
  • What pairs are best to trade news in different countries
    • The more volatile pairs have a bigger and faster reaction to news
    • The USD/CAD tend to have a slightly delayed reaction to a news event.
    • News are often leaked and the reaction may occur prior to the official release on the GBP/USD.
  • How day traders and swing traders can use news releases
  • The single most important advice you need if you trade news releases

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!

The music at the end of the podcast has been produced by Daniel Hoshor. If you want custom & tailor-made music for your business, make sure to check him out at www.thedannyboiexperience.com.

 

See the show notes: http://www.desiretotrade.com/yohay-elam/

Get free resources to help you become a better Forex trader: http://www.desiretotrade.com/free

 

 

May 20, 2016

BONUS: Q&A With Dr. Andrew Menaker (Trading Psychology)

Some background on Dr. Andrew Menaker?

Dr. Andrew Menaker is a licensed clinical psychologist with a PhD in psychology. He is, in my opinion, the leading authority when it comes to trading psychology and has been recognized worldwide for his work in the fields of emotion management and emotion development. He has coached some of the world's top traders since 1995.

Following his interview on the Desire To Trade Podcast in episode 34, Andrew accepted to be part of a live Q&A session, which turned out to be highly actionable and instructive for all levels of trading experience.

Watch the video!

Get the highlights (important points)!

Get the 5 Crucial About Trading Psychology That Will Make You A Better Trader for FREE!

May 16, 2016

In episode 40 of the Desire To Trade Podcast, I interview Michael Toma, a futures trader who is also the author of The Risk of Trading: Mastering the Most Important Element in Financial Speculation.

Michael has a very interesting perspective on risk management and he shares several highly actionable tips you can apply to your trading to make risk management part of your business. That will be very useful if you are looking to succeed in the long-run and live off trading.

Cheat Sheet - Michael Toma

  • Three steps to risk management: Identify - Assess - Control.
  • The logic behind a stop loss
  • The definition  of risk management: that was a natural transition for Dave.
  • How and why to start small: this is the key if you want to succeed.
  • The quest to make money is very dangerous.
  • Results will guide your actions as a trader: you must see results before increasing your risk.
  • Dealing with compliance: track your compliance ratio.
  • Overcoming boredom trades: Identify - Assess - Control -> Make a plan.
  • Reviewing your risks will help you a lot.
  • You need to make risk management part of your trading business.

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!

The music at the end of the podcast has been produced by Daniel Hoshor. If you want custom & tailor-made music for your business, make sure to check him out at www.thedannyboiexperience.com.

May 9, 2016

Finding Your Own Way To Trade w/ Dave Floyd

In episode 39 of the Desire To Trade Podcast, I interview a stock & Forex trader I really admire named Dave Floyd, the founder and head of trading at Aspen.

Dave started trading in college while he was in Boston. He first read Market Wizards, a book showcasing stories of various successful traders (which I highly recommend!).

The interviewed covered several topics, but one of them highly resonated with me. It is the idea of finding your own way as a trader. Once you get through the initial phase of trading, you begin to understand that copying others isn't what will help you succeed. Everybody's different and two traders almost cannot trade the exact same way. You must then find your own way as a trader.

Cheat Sheet - Dave Floyd

  • Balancing overtrading vs. not trading enough
  • How to go through the hard learning curve of a trader: it is not about learning strategies from others.
  • The transition between day trading and swing trading: that was a natural transition for Dave.
  • Strategy differences between day trading and swing trading: find someone or a group that can help you in hard times and good times.
  • The biggest mistakes for Dave as a trader: hint: the opposite of overtrading...
  • Following your gut instinct is important but it's not necessarily for beginners.
  • The commonalities between traders: many traders have creative endeavours according to Dave.
  • Approaching stock vs. Forex trading: Dave uses fairly similar approaches.
  • Why you MUST develop your own approach

 

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!

The music at the end of the podcast has been produced by Daniel Hoshor. If you want custom & tailor-made music for your business, make sure to check him out at www.thedannyboiexperience.com.

May 2, 2016

5 Elements To Go From Start To Profitable Forex Trading

In episode 38 of the Desire To Trade Podcast, I share the 5 elements I have applied in my trading journey so far to go from scratch to profitable Forex trading. Read the whole article as I share the 5 elements with more details.

 

I see that a lot of aspiring Forex traders spend a lot of time looking at trading as being just entering and exiting trades. However, I know that profitable Forex trading requires more than that. Not anyone can start to trade and make money, but those who apply other elements to trading increase their chances to succeed.

Cheat Sheet

The 5 Elements

  • Set your requirements: decide on the type of trading you are going to perform based on your preference and available time.
  • Create a money management plan: decide on what is going to be your maximum risk per trade, and maximum drawdown so you never run out of money...EVER!
  • Plan your market analysis: focus on ONE thing to trade. It's totally fine to try things and throw them away if you don't like them, but you must focus at some point.
  • Get the right support: find someone or a group that can help you in hard times and good times.
  • Review: review your trades to find patterns among the good/bad trades and focus more on the good to replicate it. Track everything!
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