Desire To Trade Podcast | Forex Trading & Interviews with Highly Successful Traders

From College To Successful Forex Trading In episode 168 of the Desire To Trade Podcast, I bring back Jason Sen from Day Trade Ideas. We discuss how Jason went from College to working for banks and then into full-time Forex trading. Throughout that process, Jason worked in institutions and set up a highly-recognized technical analysis business among big institutions. In this interview, we discuss Jason's Forex trader story and more! Watch the video interview here. Topics Covered In This Episode How Jason Sen transitioned from college to full-time Forex Trading [0:59] What made Jason Sen decide to do trading [3:41] How Jason Sen did trading and creating reports and at the same time make money from it [5:03] Why Jason Sen thinks any trader with experience who has a track record of making good calls could do his trading style [6:32] The achievement of a certain level of income or a threshold that Jason thinks is good to teach people or sell something [7:26] Why figuring out doing what you love and doing it is much better [10:39] How Jason finds the balance between telling people what to trade but letting them trade to what they know [11:23] How a bank "trades" and the difference as opposed to being a retail trader [12:33] What should people do if they're trading for somebody; and what a trader that wants to trade for somebody else also do [14:40] The timeframe for building your track record in trading [17:23] How people should learn to really trade for a living and be able to for someone else [18:42] The advantages of living abroad as a trader [21:09] What the skills that traders should develop are [22:56] How trading for someone else instills more discipline in a trader [24:19] The trading questions Jason gets a lot by email about technical analysis [24:58] Why you're going to have some drawdowns along the way [26:45] How Jason finds out if things are changing [27:49] Why having a routine is a good idea [28:31] Jason's habits or discipline that helps him in trading [29:09] Jason's advice or lesson that he passes on to people that they need to have an understanding of [29:51] [32:42] The one thing people have to apply to become better traders DesireToTRADE Top Resources 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) How To Find Jason Sen? Follow Jason Sen on Youtube Jason Sen's website: http://www.daytradeideas.co.uk/ Twitter: @daytradesignals 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!

How To Deal With Trading Emotions In episode 167 of the Desire To Trade Podcast, I sit down with full-time day trader and trading psychology coach Mandi Pour Rafsendjani in Melbourne to discuss how to trade successfully with your emotions. Trading with your emotions can be difficult at first, but by applying the tips in this video, you'll make the process much easier. You'll find out the techniques used by very successful traders on how to deal with trading emotions. Watch the video interview here! Topics Covered In This Episode How Mandi responds to people that trade with their emotions and why it's important [1:47] How people all go through the same feeling of everything is going against them in the beginning [6:57] How a mentor can help you [7:39] Why having support makes life easier [8:26] Why not to go alone in trading [9:54] Why you need to look at emotions [12:41] How trading and emotions comes down to overleverage [15:07] Several things that can cause you to overtrade [17:50] Why people can overtrade as a replacement for something they lack [19:07] How to solve problem after problem [20:27] What the steps to deal with the emotional intensity of what you go through are [24:07] Nature or nurture? [27:09] Having a subconscious emotion that affects your trading [29:26] Risking too much and not controlling the money [34:42] What happens when you give your profit back to the market [35:59] Working on something you have to work on and also emotionally [41:43] Trusting yourself and avoiding the "little sister" syndrome [43:43] Taking only sensible trades and setting a standard for yourself [44:36] How 90 percent of traders don't have a strategy that's proven and tested [47:22] Using backtesting platforms [48:20] And many more! Resources Mentioned Pepperstone FX Blue How To Find Mandi Pour Rafsendjani? Website Facebook LinkedIn Twitter DesireToTRADE Top Resources 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!

"I Need Confidence To Trade" Is A Myth? In episode 166 of the Desire To Trade Podcast, I am sitting down with Alejandro, a student from the Desire To Trade Academy to discuss confidence in Forex trading. Watch the video interview here. Topics Covered In This Episode How you can have confidence when you trade [1:19] Being curious and having an adaptive mindset [6:10] The question of making money or not in trading, and shifting your mindset to be profitable [7:42] Thinking about the overall picture and the process [10:50] Focusing on the goals rather than profit [14:47] Having to know the numbers [18:32] Putting taking profits too high and stop-losses too low/tight [19:45] Creating a journal [22:17] Why you cannot trust on your memories [22:33] Your personality and ego and how it relates to your mindset [24:54] Having motivation in trading and doing it for freedom [28:48] Thinking of trading strategies as different employees [32:21] Why there is always an adaptation part [34:32] Starting to implement the strategy and making it work to make money [36:36] Every person has different strategies that resonate with them [39:03] Why we tend to overestimate and underestimate market moves [40:57] What a good risk reward for day trading is, and win rates [44:06] Example of backtesting [48:25] Thoughts on crossover strategies [50:52] Why automation systems in your process is essential [54:38] Rules of a discretionary trader and tools for doing backtests [58:02] What the leverage is to use to be able to place all the trades you need [59:46] What the timeframe for day traders is [60:35] Not every single strategy will work on all pairs [61:49] Advice for someone starting to code and the platforms to use [63:29] How to measure magnitude of an economical event [66:32] The best strategy for trading cryptos [71:26] Why Python is one of the best tools to use in coding [74:59] Why you need to meet traders in person [77:12] Resources Mentioned Reuters Eikon Terminal Bloomberg Terminal RANSquawk Join the Academy Trading Assistant Example of backtesting Montreal Traders Meetup ForestParkFx Forex trading strategy I use DesireToTRADE Top Resources 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!

Full-Time Trader Making A Blast In Cryptocurrency Trading In episode 165 of the Desire To Trade Podcast, I interview full-time trader Houston Truong. He is one of the people that I relate to in trading, who does what I do, is more advanced than I am, and I want to learn from him quite a lot. Houston also started The Montreal Traders Meetup. For the past few months, he has been pushing me to trade cryptos. He started this almost a year ago and had some success with it. Now, this is something he does on a daily basis and something he enjoys. So I wanted to get his perspective on how to do cryptocurrency trading; how to start, what to look for, and how to go beyond the noise in crypto to be able to succeed in the field, and more. Watch the video interview here. Topics Covered In This Episode Who Houston Truong is and what he does [3:14] Why Houston Truong wanted to go into cryptocurrency trading [4:10] How the progression was into cryptocurrency trading [5:51] What Houston Truong's process is when he tries something new and building his methodology [8:28] The essential parts to develop as traders [13:40] What you need to work on to become a better trader [16:28] Traps that traders can get into and what you should do in cryptocurrency trading [19:54] Houston Truong's charting tool that he uses including for cryptocurrency trading [22:49] Drawing the balance between enough alignment and too much alignment in cryptocurrency trading [25:19] Why Houston Truong enjoys cryptocurrency trading [30:56] How he came up with the 5-hour minimum [33:22] Dealing with losses [35:18] Using your intuition as a good skill to develop in trading [36:49] The platforms Houston Truong uses, and using APIs [38:02] The reasons why Houston Truong created a meetup for traders [43:08] Do your homework to determine where to put your money [49:38] Opening a cryptocurrency trading account [50:36] How to read the stats and numbers & back testing in cryptocurrency trading [52:04] Building a "graduation plan" in cryptocurrency trading [54:02] One thing people have to apply this week or this month to become better in trading; understanding three things [55:05] Resources Mentioned Montreal Traders Meetup Group BitMEX BitFenix Trading View iBroker DesireToTRADE Top Resources 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) How To Find Houston Truong? The Trading Edge Facebook Twitter 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!

"Move your stop further away!" In episode 164 of the Desire to Trade Podcast, I am sitting down with trader Michael Toma to discuss the topic of risk management. A very big topic that a trader has to understand is that of risk management, and for the longest time, I didn't know too much about risk management, what it's about. I thought it was only about risking money on a trade to be able to trade for the long-term—but there's a lot more to it. Michael is the one who has probably studied this topic the most. Traders like him kind of have a way of doing things that are special and so I wanted to bring him back. Michael has been in episode 40 of the podcast as well as a few episodes after that. In this podcast, we went even more broad in that episode to talk about not only risk management but also trading strategies, how he trades, what things he looks for and how he has been able to get a lot of money trading for other people. Topics Covered In This Episode Who Michael Toma is and what he does [2:11] Combining trading and working at the same time [3:30] The things that people do wrong with "risk" [4:56] What he recommends to someone starting out on how to put their stop when they're wrong [8:00] How people should plan the risk around trading [9:55] Strategies that Michael Toma uses in forex [12:04] The benefits in moving from forex to futures trading [14:43] How people should start in creating a strategy for forex or futures, and how they should combine things [16:23] The amount of value you get from just talking to people [17:53] What kind of work Michael Toma does before to make sure he is good to go into trading [18:32] How Michael Toma reacts when he makes a mistake in trading [20:36] The action steps you have to put in place to get to 95% precision [22:41] Putting in the time and effort to find ways to improve [24:39] Back testing a trading strategy, doing the grunt work and finding the ways to make it better [25:47] Michael Toma's three methods [29:00] Taking the time to learn and use market profile [31:30] How Michael's trading was before using market profile [33:54] Why not to use MACD or most indicators as signals [35:25] How Michael Toma started to trade for other people [38:16] How Michael Toma presents what he trades for [41:50] Traveling around the world to meet investors [43:33] How the trading world has evolved [44:22] Developing different ways to make money is important [45:57] Being fulfilled while traveling, trading and do what you love [47:19] One thing people should apply ASAP [49:00] Resources Mentioned Heiken-Ashi Technique MACD Divergence Keltner Channels Bollinger Band DesireToTRADE Top Resources 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) How To Find Michael Toma? Collective2.com Globexnation 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!

Creating The Right Mindset For Trading In episode 163 of the Desire To Trade Podcast, I am bringing back full-time day trader and trading psychology coach Mandi Pour Rafsendjani to discuss how, as a trader, you can create the right mindset for your daily activities—how you get from whatever stage you're at when you wake up or when you "start" to trade to "being ready" to trade. Watch the video interview here! Topics Covered In This Episode Who Mandi Pour Rafsendjani is and what she exactly does [0:53] How to get the right mindset to trade and how you should go about it [2:40] There is no "magic pill" in trading [5:11] How hanging on to a losing trade is not good for traders [7:45] Having a support team and the right people around you [10:22] How important making a plan is [12:25] When and what is the best way to consult a coach [20:29] How to prepare yourself in the context of your whole life [22:28] Mastering the Wheel of Life [27:06] How to put things in place to get it right from the start especially for beginners [27:56] Seeing many markets and what happens [31:17] Meditating before trading versus mindfulness [33:46] How mindfulness improves Mandi's trading [37:41] Self-sabotaging behavior among traders [40:29] Eliminating your negative beliefs in trading [43:02] Being willing to face challenges [45:11] What you need to provide to get capital from an investor [46:19] "Priming" your mind [47:03] How to present a trading strategy to people who don't know about trading [49:06] Why Mandi has no time limits in trading [49:36] And many more! Resources Mentioned Linda Raschke's presentations DOCUMENTARY: Intermittent Fasting by Michael Mosley on BBC Performance Edge - Steve Ward APP: Headspace: Guided Meditation and Mindfulness Derren Brown How To Find Mandi Pour Rafsendjani? Website Facebook LinkedIn Twitter DesireToTRADE Top Resources 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!

High-Performance Trading & Making It Full-Time In episode 162 of the Desire To Trade Podcast, I talk with best-selling author, and trading mentor Louise Bedford about high-performance trading & trading full-time. After a long waiting time to interview her, she finally was able to come on the podcast. I really love the topic we discuss in this interview; things like candlestick, high-performance trading, how to go from part-time to full-time, and how she lived that herself. Listen to her story as it's quite interesting and she went through a lot of ups and downs which you'll hear about more in this episode. Watch the video interview here. Topics Covered In This Episode Who Louise Bedford is and what she does [1:06] The reason for why bad trades happen according to Louise Bedford [7:02] The mindset shifts and habits Louise Bedford had to implement [8:16] How "clarity" is so important [10:10] What Louise Bedford had to learn about candlesticks [15:21] What should new traders look at in candlestick charts [17:46] Building a strategy around candlesticks [21:41] How people can test to see that they are right and they can make money with candlesticks [24:53] How high-performance trading works [29:35] Things people should work on first when they start to trade live in high-performance trading [33:44] Using hypnosis and guided meditation for trading [44:58] Results people can expect from Louise Bedford's mentorship program [45:56] How each plan is unique and individual for every trader [47:44] One thing people would have to apply this week to become better traders [51:00] Resources Mentioned BOOK: Japanese Candlestick Charting Techniques by Steve Nison Louise Bedford's books Louise Bedford's trading plan template Talking Trading Podcast Daryl Wilkinson's Stress-Free Consultancy CD: Relaxation for Traders by Louise Bedford Priority Registration - Trading Game DesireToTRADE Top Resources 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) How To Find Louise Bedford? Trading Game website YouTube 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!

What You Can Learn From Millionaire Traders In episode 161 of the Desire To Trade Podcast, I am bringing back full-time day trader and psychology coach Mandi Pour Rafsendjani to discuss what we can learn from millionaire traders. Having worked with a very large number of successful traders, Mandi has seen directly the kind of mindset, attitude, etc. high-performing traders have. Watch the video interview here! Topics Covered In This Episode Who Mandi Pour Rafsendjani is and what she exactly does [0:17] What the millionaire traders (that Mandi look up to) do differently [4:24] The two types of people when it comes to their thinking and feelings [5:34] How to look at the bigger picture and the statistics [8:33] Reflecting back on past trades, creating a checklist, going back and reviewing to compare benchmarks [10:29] Trading by yourself and starting out with a strategy [13:30] What it takes to "shift out" to do what needs to be done [16:01] The self-trust and certainty that most people want to have [18:32] How the trading names and terminologies can make it difficult to apply in the trading process [21:28] How millionaire traders look at the market and think about their loss; and their techniques [26:20] How millionaire traders are competitive and how they love the game and embrace challenges [28:12] How to take losses in trading; cutting your losses early [31:25] The main difference in traders who make money or lose money [33:28] How thinking positive about yourself is hard; and coming back after feeling bad and losing in a trade [37:15] How people help you out especially if you ask a good question [42:10] Protecting your capital and your "golden goose" [43:17] The learnings that you will have when losing money [44:13] Being curious about different viewpoints and willing to learn from others [46:20] What traders should tactically apply in the next week, and setting goals to become better [48:55] And many more! Resources Mentioned BOOK: Mindset by Carol Dweck How To Find Mandi Pour Rafsendjani? Website Facebook LinkedIn Twitter DesireToTRADE Top Resources 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!

3 Untold Truths To Go From Breakeven To Profitable Trading In episode 160 of the Desire To Trade Podcast, I share about how to go from breakeven trading (trading a lot and you end up at the end of the month or the year breaking even), which is a very good problem to have. I talk about how to do this and then move forward to becoming profitable. I will share the three things that really transformed my trading and profitability with that. Topics Covered In This Episode Going back and reviewing all your trades; removing bad trades [0:44] Trying to filter your strategy in order to cut losses and adding confluence [2:20] Doing monthly checkups to see how consistent you are and asking yourself questions [4:21] Rating your trading on a scale of 1 to 10 and bringing that score a point above [7:46] DesireToTRADE Top Resources 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!

What It Takes To Be Successful In Trading In episode 159 of the Desire To Trade Podcast, I am joined by Barry Burns, trader and owner of Top Dog Trading. Barry has been in a prior episode of the podcast (episode 116) a few months ago where he shared some anecdotes and he's back today to discuss how he's been able to progress to become successful in trading. Watch the video interview here. Topics Covered In This Episode Who Barry Burns is and what he does [0:40] How Barry Burns feels after many years of trading [3:49] The reason why Barry Burns keeps back testing strategies and testing things [10:17] Barry Burns' favorite period of time, anecdote or story in his 50 years of trading [12:01] Trading to make a living with what Barry Burns know now and being passionate about it [16:29] The common things that people hear that are wrong or should not be applied in the market to become successful in trading [20:18] What technical analysis includes; reading chart patterns and indicators to become successful in trading [22:36] How possible (or not) it is to learn how to trade like banks [30:06] Which education is recommended for beginners and what they should learn to become successful in trading [32:27] Barry Burns' best teacher or mentor and 1 or 2 things he's been coached on [39:11] Risk management and money management to be successful in trading [42:25] Differences in the way he traded or the market in general back then [44:19] Worst years in trading where things did not fall as expected and Barry Burns had to work better [47:05] Recovering from drawdowns and not focusing on wins/losses to be successful in trading [49:56] Action steps that people should apply to become better traders [60:06] Resources Mentioned SPONSORED: Shoot an email to Jerremy Newsome Top Dog Trading "Rubber Band Trade" Setup Barry's Book: Trend Trading For Dummies Book: Technical Analysis for Dummies DesireToTRADE Top Resources 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) How To Find Barry Burns? Top Dog Trading LinkedIn Twitter Facebook Youtube Instagram 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!