Desire To Trade Podcast | Forex Trading & Interviews with Highly Successful Traders 149: Price Action & Profitable Trading Strategies - Tradeciety
In episode 149 of the Desire To Trade Podcast, I interview Rolf and Moritz, both of the co-founders of Tradeciety and Edgewonk. While Moritz has been a few times with me on the podcast and on YouTube to talk about different topics, this is the first time for me to interview Rolf, to get a little bit into both what they do and kind of how they deal with things.
In this podcast, we cover topics more in depth, we go more into the lessons they've learned and it kind of builds a story on through how people evolve in their trading. Both of them share some great knowledge into this interview. You'll be able to find out what they work on, what kind of strategies they use, what habits they implement, and what helps them achieve the level of a successful trader. As you know I've been recommending Edgewonk a few times in the past, the trading journal that they are both co-founders of.
Topics Covered In This Episode- Who Rolf and Moritz are [1:54]
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Moritz going into swing trading and the process he went through to do that [3:27]
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Rolf's trading style and strategies [4:56]
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The indicators they use and the best one to use [7:00]
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The importance of having a trading journal and what lessons they learned [9:19]
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How often they go back in their journal and look at the trades [11:38]
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Price action as a winning strategy and how they apply it [12:21]
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The process from manual trading and putting it on a script or starting from scratch [14:07]
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The process for someone wanting to start and looking at a chart [14:17]
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Their thoughts on taking partial profit along the way [15:20]
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Advantages of having multiple brokers [18:48]
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How they find fulfillment in trading [20:28]
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The difference between traveling and trading versus having an office and an apartment where you live [23:06]
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How come there are not that many female traders [25:30]
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How their normal day looks like trading [26:25]
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How they keep their fears and emotions out when trading during the day [28:11]
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How they make sure they're not affected by the losing trades on a bad day [29:25]
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What their worst and best days of trading are like [31:03]
- Using a demo account and losing capital before going into a live account [32:48]
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Stock trading versus Forex trading [34:08]
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Trading "exotics" [36:17]
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What their first trading journal was like [39:21]
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The top 3 or 5 things to try in a journal [40:08]
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Better times in a day trade Forex [41:35]
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Trading with the daily charts [42:21]
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Placing trades after the "open" [43:59]
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How many positions they place in a day [44:16]
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Logging their trades in Edgewonk [47:34]
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What moving average they are using or their favorite [48:01]
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YouTube Channel: Edgewonk, Tradeciety
- The Pomodoro Technique
- Desire To TRADE Forex Trader Community (free group!)
- Complete Price Action Strategy Checklist (free checklist!)
- One-Page Trading Plan (free template!)
- DesireToTRADE Academy (exclusive training program)
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!