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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: December, 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.

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[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!

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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!

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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.

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@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)!

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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!

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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.

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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!

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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!

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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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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.

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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

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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

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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!

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