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Trading Nut | Trader Interviews - Forex, Futures, Stocks (Robots & More)
235: Why This 15 Year Forex Trading Veteran Spent $2000/mth on a Trading Floor Seat (he didn’t need)?
Jul 12, 2023
52:41
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Quick takeaways
- Tom emphasizes the importance of keeping trading simple by focusing on market structure, trends, price action, support and resistance, and candlesticks.
- Tom prefers to trade independently and maintain complete focus on his strategy, believing that trading floors can be counterproductive for his trading style.
Deep dives
Tom's Journey to Full-Time Trading
Tom began his trading journey by investing in stocks and gradually shifted his focus to Forex trading. After years of practice and honing his strategy, he transitioned to full-time trading, leaving behind his day job. He emphasizes the importance of putting in the time and keeping trading simple by focusing on market structure, trends, price action, support and resistance, and candlesticks. Tom's day starts with thorough chart analysis in the morning, where he identifies potential trades and sets alarms for entry points. He manages risk by adjusting his position size and uses hedging instead of stop losses. Tom's goal is to focus on his setups and trade what the charts give him, without setting specific profit targets.
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