May 22, 2017
In episode 93 of the Desire To Trade Podcast, I
interview Stacey Burke, a Forex trader who has learned about
trading the hard way while blowing up some small accounts and
making all the mistakes most losing traders make.
Through that process, however, he has able to identify where the
real problems were in his trading and how he could finally turn the
corner to become one of the few profitable traders.
Coming from a sporting background in ice hockey and Ironman
triathlon, hard work and a competitive nature are some of the
attributes he believes are necessary to succeed in Forex
Stacey gives credit to other great traders for his success.
Brent Penfold's advice on being "the best loser", but
he also implemented things in his daily routine to help him
continually keep getting better at the process of trading. Like
Mike Bellafiore says "how good can we get?"
Here's a key takeaway:
"Trading mastery is a journey, not a destination. Focus on
constant progress, NOT perfection." (click to tweet!)
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
Share This! Top Quotes From This Interview
“If you know the enemy and know yourself, you need not fear the
result of a hundred battles." - Sun Tzu
"Focus on being a good loser and having asymmetrical risk/reward
opportunities." -Stacey Burke
"Keep it simple and learn how to lose." - Stacey Burke
In This Episode, You’ll Learn…
- How Stacey went through 10 years of losing trades without
stopping - and how he recovered
- The Forex trading habits and rituals that
Stacey go through on a daily basis
- How to really learn from other traders - because you can't
- Why expecting to lose trades is powerful
- The importance of having a solid trading
journal and how Stacey does his
- Some of the best lessons from traders around
- Why teaching and sharing makes you a more successful Forex
- The more you trade the more you are likely to make
- How Stacey uses paper notebooks - I do the
- One thing Stacey wished he knew when he started to trade
- How to create an asymmetrical edge in the market
- And much more!
Resources Mentioned In This Interview
- Edgewonk: the trading journal Stacey and many traders
use on a daily basis. Enter "dtt20" at checkout to get
10% off and a 3-month complete membership of the Desire To
Brett Steenbarger's blog: a great resource to grow in the field
of trading psychology with daily content.
Brandt: a trader Stacey gives a lot of credit to for sharing
his experience and knowledge.
DesireToTRADE’s Top Resources
How To Find Stacey Burke?
What is one thing you are going to implement after
listening to this podcast episode? Leave a comment below, or join
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