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

How To Make A Living Trading Other People's Money In episode 158 of the Desire To Trade Podcast, I sit down with stocks & futures trader Jerremy Newsome from Real Life Trading to discuss how to make a living trading other people's money (also called OPM). This episode is another collaboration with Jerremy and I really love his insights and the things that he thinks about that I wanted to bring this on the podcast once again. You guys have been hearing Jerremy for a few times in the past month. In this podcast, we talk about mostly how to trade for OPM (or other people's money). There are a couple of important things that I didn't even know myself but that I learned by speaking with Jerremy. Even if you do not trade for other people, you will still learn a lot from this interview. We talk about how to pay your taxes as a trader and a lot, lot more. Watch the video interview here. Topics Covered In This Episode Why it makes sense to trade with other people's money [1:43] What people should expect when they're trading other people's money [3:12] Ways to go by and instruments that you can use when trading other people's money [5:02] How firms have strict rules for risk and not wanting to lose too much when trading other people's money [12:17] Drawing the line between starting too early or too late trading for other people [16:10] Differences between individual people & firms and companies [17:54] The difference between using leverage or trading for other people with a firm when trading in Forex [19:35] The legal requirements when trading other people's money [21:58] Having the right mindset and being confident [23:38] How Jerremy Newsome prepares himself as a trader for other people when he has his first drawdown [27:54] How often Jerremy Newsome withdraws money from his account [30:12] If it's possible for a firm to get funded at a 2 to 5 percent monthly return [34:27] How much money stock traders usually give Jerremy Newsome to start with [37:33] Why Jerremy Newsome trades stocks and not Forex [39:03] Investing every single penny you have in your bank account [43:40] Tradenet and equities [48:27] Resources Mentioned Futures trading: http://bit.ly/2ORaUXF Forex trading: http://bit.ly/2njZY8r Tradenet 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 Jerremy Newsome? Email: Jerremy@reallifetrading.com Real Life Trading Youtube LinkedIn Twitter Facebook 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!

Every Trader Has An Unfair Advantage! In episode 157 of the Desire To Trade Podcast, I interview Tim Racette, a successful day and swing trader behind the blog EminiMind. Tim is also on a different podcast which I used to listen to before starting my podcast. He shares his story as a successful trader and highlights several important lessons about success in the field of full-time trading. We talk about goals, challenges, going to full-time trading when you have a full-time job, how to combine the two and a lot, lot, lot more. Watch the video interview here. Topics Covered In This Episode What Tim Racette does, who he is, and a bit of background about him [1:44] Why and how Tim Racette started trading [2:18] Tim Racette's mentors [4:46] Strategies that Tim Racette used in the trading pits [6:06] How Tim Racette evolved to trading on his own even with an unfair advantage [7:53] Tim Racette's trading style and being comfortable with the idea of being different [10:13] Things Tim Racette had to do to go full-time trading for himself [12:50] If day trading was a necessity to trade full-time [14:57] Things that Tim Racette sees in people that they get wrong [15:52] Feeling of "going too fast" in the process of trading full-time and what you have to do [19:46] How traders should set goals for themselves in the beginning of the year [21:54] Starting with something basic and then tweaking it [28:09] Personalities outside trading that can help you become a better trader [29:12] Failing in business but what you should do after and keep trying again [30:25] Creating multiple streams of income as a trader [34:26] The schedule or regimen Tim Racette follows [39:01] Things or behaviors that people need to work on and adapt to become great traders [40:58] Goals Tim Racette has for the future [44:21] Doing back-testing and forward-testing for his ideas [45:54] One piece of advice or one action step people should take to become better traders [47:41] Resources Mentioned SPONSORED: Shoot an email to Jerremy Newsome Goal Setting Ideas for Traders Tim Ferriss and The 4-Hour Workweek Jim Collins 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 Tim Racette? Eminimind.com Twitter: @EminiMind Facebook: EminiMind Tim@eminimind.com 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!

Develop A Profitable Forex Trading System In episode 156 of the Desire To Trade Podcast, I interview Casey Stubbs, a Forex day trader and the man behind Trading Strategy Guides. Casey has been featured earlier in episode 035 of the podcast. You can watch it here. Casey has been putting massive work into delivery systems and making his trading really systematized. He's kind of a success story in that field. In this podcast, Casey talks about how he's been able to use the systems and indicators to use for his trading while building different businesses and while working on different things. While I was getting a lot of value out that chat, I wanted to publish this so you guys do the same and hopefully you'll hear some advice on how to create strategies that are systematized, how to back this, how to combine business and life in trading, and all these different things. You can watch the video interview of this episode here. Topics Covered In This Episode Who Casey is and what he has been doing this past month [2:18] How Casey started to first trade and what happened after [4:11] How he evolved from trading stocks to Forex [5:44] Casey's learning curve and overcoming challenges in trading [6:51] How and why Casey created the indicators [8:33] Trading manually or with a script [10:53] Price action and looking at the levels versus indicators [11:50] Casey's process of back testing and measuring results [13:48] The most challenging aspect of being a trader [17:10] Discipline and taking the right trades [18:32] What the steps and time frame are to create a system that works in the market [22:29] What happened to Winner's Edge Trading [23:52] How Casey gets ideas for the ideas and strategies [24:51] Limit of how many indicators to use [25:50] Casey's favorite trading platform [26:53] Using Trading View [27:50] What Casey thinks most traders do wrong when trying to create a system [28:09] How Casey combines trading with having a family and business and doing all these things on the side [29:12] Casey's trading goals and profit targets [32:18] Casey's response to someone wanting to make $10,000 from trading [36:46] How you can learn from people and apply them in your life [41:27] The one thing Casey thinks people should apply and/or do [45:43] Resources Mentioned SPONSORED: Shoot an email to Jerremy Newsome TradingView Forex Tester FxBlue BOOK: Richest Man In Babylon BOOK: Living Forward by Michael Hyatt Trading Strategy Guides Power Indicator 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 Casey Stubbs? Trading Strategy Guides Cashflow Hacking Podcast 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!

Master Supply & Demand In Forex Trading In episode 155 of the Desire To Trade Podcast, I interview Paul Scott, an ex-institutional banker who primarily focuses on supply and demand Forex trading. After working as a trader in different exchange and having a thriving career in the trading industry, he made it his goal to teach other people how to use fundamentals. In this podcast, he shares what a bank trader looks for and why relying solely on indicators is the wrong way to go about success in trading. Topics Covered In This Episode How Paul started to trade [1:44] Looking charts back then and how it was very much price-driven [5:45] Paul's learning curve and level of success after the first 3 months learning about trading [12:12] How to respond when markets are behaving differently [15:44] How people trade differently on different markets [18:09] Banks putting all things in place to help you make money [23:17] How Paul would recommend to people to start with supply and demand [28:26] Paul's advice for people [42:08] Resources Mentioned SPONSORED: Shoot an email to Jerremy Newsome 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 Paul Scott? PaulScottFx.com LinkedIn (PaulScottFx) Twitter (@PSCOTTFX) 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!

Successful Trading Mindset Challenges (scale to $10,000/month) In episode 154 of the Desire To Trade Podcast, I am bringing back full-time day trader and psychology coach Mandi Pour Rafsendjani. We talk about 5 mindset challenges that people face when they want to scale their trading to $10,000 a month. This is a big number and it's a goal that a lot of people want to achieve. I have seen these mindset challenges for myself that I had to push them away over time. They didn't change in a day, they didn't change in a week, but I had to work on those. If you aspire to get to the $10,000 mark per month, this is exactly what you have to work on. I encourage you to listen to this carefully and make some notes on what you have to work on, then listen back in, let's say, three months from now (90 days). Ask yourself what have you done, what have you improved on, and what can you work on. That will be amazing and that will be a great way to get value from this. Watch the video interview here! Topics Covered In This Episode Who Mandi is, what she does and why she's here with us today [3:04] The three types of traders [5:51] The first trading mindset challenge [8:36] The second mindset challenge [17:38] The main worries and fears in traders [22:22] Learning stuff for free, mindset number 3 [25:51] Using strategies and rules [32:57] Placing trades based on strategy and your personality [34:19] The fourth mindset challenge [36:49] Trading on intuition versus hoping [39:35] How we know our intuition is based on other factors [42:31] The fifth mindset challenge [43:31] Personal development [45:26] Why putting all your capital in trading and taking all risks don't work [46:35] What people think if you're a trader [49:18] How Mandi breaks down the root cause of any trading issues [53:33] What you should take action on [61:03] Resources Mentioned SPONSORED: Shoot an email to Jerremy Newsome Demon Finder from Tom Dante Mandi's Fierce 10 Challenge 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!

Forex Broker Secrets & Tricks You Didn't Know About In episode 153 of the Desire To Trade Podcast, I am joined once again by Trent Hoerr, the Head of Sales at Forest Park FX. You can watch Part 1 of his video interview (episode 151) here that was aired two weeks ago. In this episode, I bring back Trent where he discusses some things Forex brokers do that you weren't aware of. Trent shares more on how Forex brokers work and operate to make it possible for you to trade. This will be useful since all aspiring profitable traders should understand the way their broker functions. This is important if you have a problem with your broker or if you're not sure how they work. Knowing this can not only save you cost and ensure that you don't get in a place where you're stuck and your broker doesn't support you. Plus, you'll learn tactics brokers use. Topics Covered In This Episode Who Trent is, what he does, and why he's here [2:25] Questions people have about brokers [3:45] How common it is when people enter a trade and they get stuck and they see other charts being different [5:38] Regulations in different countries and how brokers work with it [8:22] Worst case scenarios [9:37] Who keeps and stores the take-profit data, third-party database firms [11:07] What an ECN broker is [12:26] Advantages for traders trading smaller or bigger accounts [14:45] Dealing with brokers with bad reviews [18:46] Which brokers are through ECN brokers [21:02] The A book and B book [22:12] Minimum distance from the market price [23:57] Reasons to trade on the brokerage platform or not [25:22] How brokerage trading against traders is common [26:11] Easy ways to win against a broker [27:54] The brokers and stop-losses [29:51] What type of action or behavior could be considered harmful toward the broker [31:11] Brokers providing VPS services for their clients [33:00] Benefits people get when they sign up for brokerage firms and what to look for [36:04] If you lose any cashback [38:22] What Forest Park FX is about [38:53] Brokers that are good for the Caribbean [42:18] Resources Mentioned SPONSORED: Shoot an email to Jerremy Newsome Pick Your Forex Broker: Interactive Map from Forest Park FX MetaTrader 4 CNS VPS Service Beeks VPS Provider Oanda Global Prime Equinix 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 Trent Hoerr? Forest Park FX LinkedIn 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!

How To Motivate Yourself To Trade For A Living In episode 152 of the Desire To Trade Podcast, I interview Jerremy Newsome, CEO and co-founder of RealLifeTrading, based in the US. One of the tough aspects and tough parts when it comes to achieving something great is to be motivated daily and to be able to achieve your goal no matter what you think. I interviewed Jerremy a few episodes back (Episode 113 and 148) but today we talk about his history, what he went through and how he kept pushing no matter what happened. In this podcast, Jerremy talks a little bit more about everything he faced and how he was able to get back. This is really inspirational if you're struggling with achieving your goals at this point or if you've been facing some tough times. Jerremy is the man. He is super high in energy and he went through a lot, which is exactly what he shared in this interview. I'm almost 100 percent sure you'll like this. Topics Covered In This Episode Who Jerremy is and what's going on in his life [1:21] How Jerremy made the decision to start trading and how he started to learn [3:22] How trading is one of the easiest things you can do but it's also difficult [12:44] How he moved from the simple stuff and create a system of rules [13:58] A point in Jerremy's life where he realized trading was not too exciting as it appeared to be [16:41] Hard times in trading and hitting rock bottom, and how Jerremy got back up [18:58] What kept Jerremy pushing [24:38] How Jerremy changed his mindset [27:34] How Jerremy stays motivated every day to keep going [29:55] What the sensible approach to follow with only a few hundred dollars to trade is [33:21] What keeps Jerremy out of the bad trade [40:40] Thoughts on trading crypto currencies [41:56] Motivation and making reading books a priority [43:31] Picking a book and applying it to your life [46:44] His advice for people with money [53:30] And many more! Resources Mentioned 13 Steps That Will Make You A More Profitable Swing Trader: " data-userid="424314218286923776" data-orgid= "425292844702527488">Wealth Summit 13 Steps That Will Make You A More Profitable Swing Trader: " data-userid="424314218286923776" data-orgid="425292844702527488">13 Steps That Will Make You A More Profitable Swing Trader Trade Navigator TradingView Tony Robbins' Unleash the Power Within Money And The Meaning of Life by Jacob Needleman You Are A Badass At Making Money by Jen Sincero MONEY Master the Game by Tony Robbins Sell Or Be Sold by Grant Cardone The Straight Line System by Jordan Belfort Be Obsessed Or Be Average by Grant Cardone Winning The Rat Race Without Becoming A Rat by Dr. Kevin Leman Tools of Titans by Tim Ferriss Think and Grow Rich by Napoleon Hill 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 Jerremy Newsome? Email: JerremyNewsome@gmail.com Real Life Trading Youtube LinkedIn Twitter Facebook 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 Choose The Best Forex Broker (with the new rules) In episode 151 of the Desire To Trade Podcast, I am joined by Trent Hoerr to discuss how to choose the best forex broker. We discuss how to choose a broker for U.S. residents. In addition, we cover new regulations in the U.K. for Forex traders & brokers. Trent is a financial market professional with global experience. He believes in honesty and hard work, which in my opinion are the staples of good business. Hard work will see tasks and objectives through, while honesty is the staple of long-term relationships. These two practices have allowed Trent to achieve success as a runner, commodities trader, and a broker. Trent Hoerr was also featured in episode 29 of the podcast on choosing your Forex broker. He works for Forest Park FX... With an experienced staff of industry professionals, Forest Park FX specializes in creating custom FX brokerage and trading solutions for retail traders, service providers, institutional traders, money managers and hedge funds. Forest Park FX offers a wide variety of value-adding services, including market access through the world's top Forex brokers, cash back rebates for retail traders, built-to-specification trading algorithms, administrative and operational support for money managers and customized liquidity for hedge funds and high volume traders. I decided to bring back Trent on the show as he's one of the most knowledgeable persons I know to discuss Forex brokers. With the new regulations being applied in Europe (July 2018) and other brokers stopping their services to Canadian residents, I thought it would be great to get a new perspective on how to choose the best Forex broker again if you've been impacted by these recent events. Resources Mentioned SPONSORED: Shoot an email to Jerremy Newsome Pick Your Forex Broker: Interactive Map from Forest Park FX 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 Trent Hoerr? Forest Park FX LinkedIn 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!

How To Trade Forex Like The Banks In episode 150 of the Desire To Trade Podcast, I interview Forex trader Tony Sycamore on how to trade Forex like the banks. This week's episode is a follow-up to a first episode I recorded a few months ago (in episode 103). After his career as an institutional trader, he moved on to trade for himself and is now getting some partnership with different companies. In this podcast, Tony shares how people trade in banks. If you've been wondering what kind of things people look at institutional traders, Tony is the perfect person to answer that. What I really like about Tony is the fact that he has a whole process when he looks at trades and he goes through a series of steps including looking at the big picture and looking at the context in which he's going to trade. That's something I think everyone should apply. I personally got, once again, a lot of value from this interview and I'm sure you'll do the same. Topics Covered In This Episode Who Tony is and what he does [2:18] Tony's trading style [5:17] What other things Tony looks at in terms of candlesticks [8:19] Changes or things that Tony does differently since going from trading in big institutions [11:33] Having three positions or dividing into parts [17:54] Minimizing your risk [22:15] Tony's routine and what he does on a daily basis [23:29] Specific stories Tony looks at [23:29] Having the right resources and using it [29:15] Technical analysis and where the value is in trades [35:07] Overall situations or issues that Tony trades on [37:01] Tony's Technical Analysis Report [39:19] Putting stop-losses and profit targets [42:17] Resources Mentioned PRO: Sign Up To Tony Sycamore's Technical Reports TradingView City Index Larry Williams (Trader) 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 Tony Sycamore? TechFxTraders Facebook Twitter LinkedIn 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!

Price Action & Profitable Trading Strategies 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] Moritz going into swing trading and the process he went through to do that [3:27] Rolf's trading style and strategies [4:56] The indicators they use and the best one to use [7:00] The importance of having a trading journal and what lessons they learned [9:19] How often they go back in their journal and look at the trades [11:38] Price action as a winning strategy and how they apply it [12:21] The process from manual trading and putting it on a script or starting from scratch [14:07] The process for someone wanting to start and looking at a chart [14:17] Their thoughts on taking partial profit along the way [15:20] Advantages of having multiple brokers [18:48] How they find fulfillment in trading [20:28] The difference between traveling and trading versus having an office and an apartment where you live [23:06] How come there are not that many female traders [25:30] How their normal day looks like trading [26:25] How they keep their fears and emotions out when trading during the day [28:11] How they make sure they're not affected by the losing trades on a bad day [29:25] 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] Stock trading versus Forex trading [34:08] Trading "exotics" [36:17] What their first trading journal was like [39:21] The top 3 or 5 things to try in a journal [40:08] Better times in a day trade Forex [41:35] Trading with the daily charts [42:21] Placing trades after the "open" [43:59] How many positions they place in a day [44:16] Logging their trades in Edgewonk [47:34] What moving average they are using or their favorite [48:01] Resources Mentioned Tradeciety Edgewonk YouTube Channel: Edgewonk, Tradeciety The Pomodoro Technique 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 Moritz & Rolf? Tradeciety Facebook Twitter Email 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!