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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: August, 2017
Aug 28, 2017

The Psychology Of Success In Trading – Show Notes

The Psychology Of Success In Trading – Show Notes

 

In episode 107 of the Desire To Trade Podcast, I interview Silke Glaab, a psychologist based in Dubai. She has been trained to guide people to have it All: success, fulfilling work and money - and romantic love, a great partnership, and family.

Silke accepted to come on the show to share some of the principles surrounding the psychology of success in trading. 

More specifically, we tackle the 5 steps to staying vibrant and energized all day as a trader throughout the interview. Those can be applied to anyone in any market!

More About Silke Glaab

She completed a Master Degree in Psychology from Munich University with a Cross-Cultural experience and 15 year Training and Advisory career with positions held as Training Manager at T-Online for Technical and Customer Care Support, Research Assistant at Psychiatry Ulm for Quality Assessment and as Project Consultant for German International Cooperation (GIZ) in Kenya prior coming to Dubai.

With her profound knowledge in NLP Master Coaching and Hypnotherapy (Marisa Peer method), she can assist you to elevate your brain power, change limiting beliefs of your subconscious mind and release stuck energy in minutes so that you can align your personal goals with our highest mission!

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

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"Breathe, because it's powerful." - Silke Glaab 

Key Takeaways From This Episode (provided by Silke)

Keep Your Perception Fresh

It is the ability to become aware of something through the senses. However, there are millions of sensual information reaching your brain every second.

The actual perception is a distortion of the all the incoming data and is linked to already stored information and expectations. And we're not consciously aware of that.

So, if you're checking on the same charts every day your brain compares the incoming info with already existing info and matches it. This can lead to misinterpretations of new info. 

How To Improve: Challenge your brain by changing your routine all over, include breaks and stay focused for at least 20 minutes.

Feelings & Thoughts Work Together

A thought is an idea or opinion produced by thinking(about yourself, others, trading, the world) or occurring suddenly in your mind.

The quality of the thought depends on your biology, your emotional state you're in. It can be triggered by incoming information from the environment (senses) or from inside your body (feeling).  

Stressful or incongruent situations create chaos in your brain and as a result making it impossible to think clearly or to come up with new and creative solutions. 

When you change the context (emotional state) in which thoughts emerge, you can change the quality of the thought.

Further, 95% of our thoughts are subconscious and they're running their programs in the background.Therefore, affirmations often do not work, because they target the conscious mind.

 

A feeling is a conscious awareness what's going on in your body. Like with anger, your heart beat goes up, blood pressure rises, muscles tense up, your attention narrows. Often you're not aware. And you're still thinking what you're thinking and doing what you're doing and it's not your best performance. Feeling and thinking are interrelated. A negative thought results in a negative feeling and negative feeling results in a negative thought.

And you're still thinking what you're thinking and doing what you're doing and it's not your best performance. Feeling and thinking are interrelated.

A negative thought results in a negative feeling and negative feeling results in a negative thought.

How To Improve: Uncover your limiting beliefs and change them in an instant and reprogramme your mind in minutes with Psych-K.

 

Emotions & Awareness

Emotions are energy in motion. The result of all physiological inputs creates an emotion in the brain.

How To Improve: Become aware of your feelings throughout the day to navigate them throughout the day. Take control of your emotions and shift your emotion towards the flow zone of passion, focus, determination, containment, and curiosity. Move away from anger, frustration, anxiety, boredom, detachment. Methods: Breath, Label and Embrace your feelings, Bilateral stimulation...

Listen: The Most Valuable Insights On Trading Psychology - Andrew Menaker

Control Your Physiology 

Physiology is a stream of date from all physical and chemical processes in a living organism to the brain.  

How To Improve: Control your physiological state to get an instant grip on your emotional state towards a flow state and become crazy productive by controlling your BREATH. Dr. Alan Watkins recommends a Breath which is Rhythmic, Even, And Through your Heart. Other things are sleep, exercise, nutrition.

Resources Mentioned In This Episode

 

 

DesireToTRADE Top Resources

How To Find Silke Glaab?

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!

Aug 21, 2017

What Makes A Great Discretionary Trader – Show Notes

Show notes: http://www.desiretotrade.com/106/

Recorded on July 24th, 2017

In episode 106 of the Desire To Trade Podcast, I interview discretionary trader Will Hunting who, like many traders, describes the early years as a series of ‘humbling’ experiences.

Will Hunting started a journal recording simple techniques and market observations which allowed him to trade successfully and develop a hobby into a career.

Some of that journey was documented in public forums dedicated to trader education.

He has helped hundreds of traders new and veteran alike to build solid foundations in technical analysis, price behavior, market psychology & critically the ability to make sensible decisions.

Having delivered double digit returns for many years he has been featured in trade publications and is one of the UK’s most well-known independent retail forex traders.

Key Takeaways From This Episode

Learning From Every Trader You Meet

One major thing I got from this interview is the idea that we, as Forex traders, take lessons from all the other traders we meet. The trading strategy I currently trade, although it is unique to me, is based on different little things I learned from different people.

A Twist On The Risk-To-Reward

Another major discussion concerned reward-to-risk. Although a lot of traders see a loss in trading as the "cost of doing business", Will reminds that we can add criteria to avoid taking as many loss. That will make the drawdowns much smaller.

Following The Way That Makes Sense To YOU

As discussed throughout this interview, Will Hunting has a discretionary trading style that differs from most traders previously interviewed. 

That, however, makes sense to him and that is a very important part of the equation of success in trading. A trader that doesn't use something that makes sense to him will never trade at its optimal performance.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

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“Plan every trade. If you do that, you have a head start on all traders.” – Will Hunting

DesireToTRADE Top Resources

How To Find Kevin Hunt?

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!

Aug 14, 2017

London Session Forex Day Trader Made Profitable – Show Notes

Show notes: http://www.desiretotrade.com/105/

In episode 105 of the Desire To Trade Podcast, I interview Kevin Hunt, a Forex day trader who specializes in trading the London session. He is driven by location independence and has been trading his own fund since 2013.

What's impressive about Kevin Hunt's story is how quick he was able to get on the right track after surrounding himself with traders.

At the moment, Kevin runs a London session trading room in the Price Action Traders Institute along with Kim Krompass.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

In This Interview, You'll Learn…

  • The trading style applied to London's Forex session.
  • The story of Kevin - starting to trade from India by meeting interesting people.
  • How to react when your method doesn't work for you.
  • How Kevin realized he was a successful Forex day trader.
  • The importance of continual improvement.
  • How to deal with losing sequences in day trading
    • Developing the skill of walking away
  • An important lesson on expectations.
  • The habits to develop if you want to trade better.
  • A great lesson on using rewards & punishments: Kevin tells the story of a trader who had rewards & punishments at the end of the week/month depending on the respect of her trading plan.
  • The things Kevin Hunt did really wrong - so you can avoid them!
  • And much more!

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“The moment you enter a trade, it has a 50% chance of being wrong.” – Kevin Hunt

Resources Mentioned

Join The Price Action Traders Institute (PATI)

Kevin Hunt teaches in the Price Action Traders Institute (PATI) along with Kim Krompass. 

By entering the promo code DTT10OFF, you will get 10% off for the PATI membership.

To Join the PATI Membershiphttps://priceactiontradersinstitute.com/register/pati-full-membership/

DesireToTRADE Top Resources

How To Find Kevin Hunt?

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!

Aug 7, 2017

Freedom Lifestyle Forex Trading – Show Notes

Show notes: http://desiretotrade.com/104/

In episode 104 of the Desire To Trade Podcast, I re-interview Andrew Mitchem, a Forex trader & coach who has successfully created a "freedom lifestyle" through Forex trading.

What's nice about Andrew's style is how he combines multiple time frames and manages to spend little time trading on a daily basis.

I personally learned a lot from Andrew and he was the very first person who agreed to be interviewed on my podcast. He personally taught me The Money Management Principle Most Traders Don't Know About.

The Forex trading freedom lifestyle Andrew Mitchem developed for himself is very inspiring and I could personally still learn new things from that interview - in which we dive deep on trading strategies & the methods used in the Forex market.

I’d love if you can take a few seconds to leave a review on iTunes or Stitcher. Let me know honestly what you think of the podcast because the only way I can improve is through your reviews.

In This Interview, You'll Learn…

  • The technical trading tools Andrew uses on a daily basis
  • How to enter continuation trades for a better result
  • Why & how trading uncommon time-frames (6hr, 8hr, etc.)
  • How Andrew's trading style changes when traveling
  • How to use round numbers and why they work on all currency pairs
  • Some advanced trading strategies for taking profits
  • What Andrew does uniquely in trading
  • Some of the worst trading mistakes
  • What Andrew thinks is necessary to win a trading competition
  • What is an acceptable drawdown
  • And much more!

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“Keep your risk low per trade and make percentages (not pips)” – Andrew Mitchem

DesireToTRADE Top Resources

How To Find Andrew Mitchem?

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!

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