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

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: September, 2016
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!

Sep 5, 2016

Rayner Teo: The Steps To Become A Successful Trader

Full show notes: www.desiretotrade.com/rayner-teo/

In episode 56 of the Desire To Trade Podcast, I interview Rayner Teo, an independent Forex trader from Singapore and the founder of TradingwithRayner.

Rayner started trading at a young age, after he learned there was a trading competition in his university. He soon discovered that becoming a successful trader required a specific strategy. Even after trying several strategies and trading techniques, he couldn’t seem to figure out how to trade successfully. It took him some time, but eventually Rayner had his breakthrough moment. He realized that he had to stick to something (for at least 100 trades) if he wanted to progress.

During this interview, we discussed a few technical topics, but also how Rayner Teo makes his trading journal, and very importantly, the process traders have to go through to become successful while cutting down the cost of their education.

Rayner has a very strong understanding of technical trading. Nevertheless, he has made a huge effort to stay simplistic in his trading. That is where the real power lies

You're not being paid for the hours. You get paid to do the right thing.CLICK TO TWEET

 

Example Of Parabolic Trend:

Topics Covered – Rayner Teo

  • Rayner’s learning process 
  • The breakthrough that helped Rayner become a successful trader
  • How to classify trends
  • The journaling and review process for traders
  • Key principles of trade management
  • Getting the required capital for 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!

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