Patrick Petersson, a retired professional trader with two decades of experience, shares his journey from solo trading to mentoring aspiring traders. He discusses the psychological challenges traders face today and the critical role of community support. Patrick addresses the divide between traders using personal capital versus those in prop firms and emphasizes the need for clearer trading education. He also highlights innovative investment strategies and advocates for patience and discipline, aiming to empower traders to achieve financial independence.
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question_answer ANECDOTE
From Lone Wolf to Community Trader
Patrick Petersson transformed from a lone wolf trader to a community-focused trader through the Chat With Traders group.
He values worldwide friendships and accountability, which he credits for his growth in trading.
volunteer_activism ADVICE
Simplify Trading Concepts
Teach trading concepts in simple terms anyone, even a five-year-old, can understand.
Simplify volatility and risk guidance to make trading more accessible and save lives.
volunteer_activism ADVICE
Manage Risk in High Volatility
Reduce your position size and exposure during periods of high volatility such as when the VIX spikes.
Consider waiting for calmer market conditions to avoid quick, unexpected losses.
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This book by Jocko Willink and Leif Babin focuses on the principle of 'Extreme Ownership,' where leaders take full responsibility for their actions and decisions. The authors use their experiences in the U.S. Navy SEALs to illustrate how this mindset can lead to success in any organization. The book covers various principles such as believing in the mission, checking ego, and leading by example. It emphasizes that leaders must own all failures, develop plans to overcome them, and ensure their teams are well-conditioned and aligned with the mission. The authors also stress the importance of humility, discipline, and effective communication in leadership[1][2][4].
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James Clear
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In this episode we catch up with Patrick Petersson, who returns two years after his first interview on Chat With Traders on episode 260, where he shared his incredible story of overcoming hardship to attaining success in trading as a professional trader. Patrick has become best known for his intuitive, price-action, news-based, scalping trading style. Shifting from trading as a lone wolf to collaborating with others, Patrick shares his personal transformation that he underwent by mentoring and guiding other aspiring traders to realize their greatest potential.
In a refreshingly blunt conversation, Patrick shares practical, real-life trading topics and issues that traders are experiencing today, including the psychological and practical challenges of trading, and the role community and engagement plays in one's trading development. He also shares his thoughts on the sharp divide between traders risking their own capital and those cycling through prop firm evaluations, and the shortages of honest guidance for traders, and so much more.
More about Patrick Petersson:
Patrick has over 20 years of experience in the U.S. stock and futures markets. As a retired professional trader, he now guides traders of all levels and has been a driving force in trading communities such as the Chat With Traders and MenthorQ communities. Currently at MenthorQ, he developed the MenthorQ Blindspots and Trading Roadmap principles, which aim to simplify trading with the principle: Keep It Super Simple. He also hosts MenthorQ TV, where he interviews guests and shares trading strategies. Additionally, he is a father of two and resides in Dubai with his family.
Chat With Traders 
