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

Houston Truong: Holiday Special with A Full-Time Retail Trader Episode 71 of the Desire To Trade Podcast is part of the Holiday special, during which I'm bringing back guests I've had previously on the podcast. I selected guests that have made an impact on me throughout the year. In this episode, I interview Houston Truong, a full-time retail trader who, in the past year, left his job to concentrate only on his activities as a stocks trader. Houston has made an immense impact on me. He was the one who inspired me to start the Desire To Trade Podcast in September 2015. He also taught me a lot about routines, mindset, and peak performance. >> Listen to the first episode with Houston Truong I currently co-host the Montreal Traders Meetup with him, through which we set up in-person events for traders monthly. In this interview, Houston and I went back to reflect on the year, the one in which Houston left his job. We also discussed how someone has to go about leaving his job to trade full-time. Houston is particularly concerned about the topic of continuous learning. Unfortunately, we've seen many traders who become consistent, and then stop learning forever. That is not a very wise way to go about it. Instead, traders from all ranges of experience should keep feeding their minds with useful information to keep growing. It is a fact that markets change, and that makes it necessary for traders to adapt. Share This! @RealTradingEdge is back on the @DesireToTrade Podcast for a Holiday special! CLICK TO TWEET Knowledge shouldn't be an end. Prioritize skills over knowledge. @RealTradingEdge CLICK TO TWEET In This Episode, You'll Learn… The things Houston has been doing in the past year. How to set up a trading office & the benefits. The steps Houston took to leave his job. How to continually challenge yourself. How to build competence as a trader. Why it's essential to keep learning & how to do it. What's the special Holiday giveaway Houston organizes (exclusive for the Desire To Trade Podcast!). And much more! What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group! Holiday Giveaway (until Jan. 2nd, 2017)! Sign up for the giveaway (it's free!) DesireToTRADE's Top Resources DesireToTRADE Forex Trader Community (free group!) Complete Price Action Strategy Checklist One-Page Trading Plan (free template) DesireToTRADE Academy How To Find Houston Truong? The Trading Edge Facebook Twitter About The Desire To Trade Podcast Subscribe via iTunes (take 2 seconds and leave the podcast a review!) Subscribe via Stitcher Subscribe via TuneIn Subscribe via Google Play See all podcast episodes

In this Q&A episode, I discuss the 5 things I believe all traders must know before starting to trade Forex. Those 5 keys to trading are summarized below. The advice shared in my Facebook Live Q&As are based on my own experience and the interviews I had with multiple successful traders on the Desire To Trade Podcast. 5 Things You Must Know Before Starting To Trade Forex I wanted to share those 5 things you must know as they are often overlooked. Looking back at my trading, those are things that would have helped me without a doubt. #1: Track Every Single Trade If you do not track, you have no way to go back and find ways to trade better. That is the reason why I recommend you start tracking every single one of your trade from now on (no matter what). If you take bad trades, track them. If you take trades that do not respect your plan, track them. And obviously, do not stop to track when things are going well. And obviously, do not stop to track when things are going well. Keep it going! #2: Trading Is A Game Of Probability It's not because you read about a strategy and implement it flawlessly that you will see success. It is well-known by most experienced traders that any trading strategy goes through a period of consecutive losses. At that point, you need to remind yourself that trading is a game of probability. That being said, you can have a general idea of the win rate your strategy is expected to have, but you can never know how many losses you'll have to go through before you reach the win rate you expected from the start. #3: Trading Comes Down To 3 Simple Types Of Trades No need to complicate trading. Most often, when traders feel overwhelmed, it is due to the fact that they try trading everything at the wrong time. By focusing on understanding the types of trades, and then selecting one you'll learn to trade, you will be able to bring back a great chunk of the simplicity that surrounds Forex trading. Successful currency trading, after all, is about focusing on certain types of trades, and placing the odds in your favor (see #2). #4: Testing Builds Confidence The only way to build confidence as a trader is to see results. Those results can either come from a live trading account or from testing. The ladder is much less stressful, so I recommend you focus on testing before you ever put real money in a trading account. The more you look at charts containing examples of your trading setup, the more familiar you get with your setup. You no longer worry about whether your trading strategy works or not because you've seen more than enough trade examples. Testing definitely builds confidence. If you do not feel confident about your trading strategy, you haven't done enough testing. #5: The More You Automate, The Easier It Gets You do not need to create an algorithmic trading system that will replace you, but you absolutely need to understand the importance of creating successful trading habits. Those are things you do every time without thinking because you have created a routine. Good examples of automation could be: Placing a stop loss when you enter a trade Review your trades every Sunday Look at the news prior to entering a trade And much more... The way you want to go about creating habits is to do the action several times until you no longer have to think. You might want to start by placing a reminder on your screen until you no longer need the reminder. That has been a wonderful trick for me! What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group! DesireToTRADE's Top Resources DesireToTRADE Forex Trader Community (free group!) Complete Price Action Strategy Checklist One-Page Trading Plan (free template) DesireToTRADE Academy (lifetime membership promo until Dec. 18th 2016!) About The Desire To Trade Podcast Subscribe via iTunes (take 2 seconds and leave the podcast a review!) Subscribe via Stitcher Subscribe via TuneIn Subscribe via Google Play See all podcast episodes

Moritz Czubatinski: A Successful Trader Traveling Around The World In episode 70 of the Desire To Trade Podcast, I interview Moritz Czubatinski, a Forex and futures trader currently living in Hong Kong. What I find really interesting about Moritz is that he has been able to travel the world while trading. That is definitely one of my personal goals (I'll keep you updated!). Interestingly enough, Moritz transitioned from his career as a professional Poker player to a full-time trader traveling the world. However, he had to go through an office job in Beijing in-between. He is also the founder of the blog Tradeciety along with Rolf. Moritz places a particular emphasis on trading journals. For him, having a journal is essential to successful trading. In fact, "I've never seen a profitable trader without a trading journal.', he says. It is for that reason that Moritz created Edgewonk, a trading journal software. Share This! I've never seen a profitable trader without a trading journal. - @tradecietymc CLICK TO TWEET Motivation comes from doing. - @tradecietymc CLICK TO TWEET In This Episode, You'll Learn... How Moritz started to trade Forex and futures. How he transitioned from playing Poker to trading full-time. How the futures market differs from Forex. What's the easiest way to trade while traveling How Moritz left his job to trade The best single piece of advice you need to live from trading The things Moritz has to put in place to see trading results faster Moritz uses a "Sirtfood Diet". Learn more here! Everything you need to learn about trading journals And much more! What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group! Resources Mentioned Trading Journal: Edgewonk: Your Professional Trading Journal DesireToTRADE's Top Resources DesireToTRADE Forex Trader Community (free group!) Complete Price Action Strategy Checklist One-Page Trading Plan (free template) DesireToTRADE Academy How To Find Moritz? Tradeciety Edgewonk: Your Professional Trading Journal Facebook Twitter Instagram Youtube About The Desire To Trade Podcast Subscribe via iTunes (take 2 seconds and leave the podcast a review!) Subscribe via Stitcher Subscribe via TuneIn Subscribe via Google Play See all podcast episodes

Day Trading Forex: How To Stop Impulsive Trades Before They Occur In this Q&A #7, I discuss the topic of impulsive trading, especially for people who are day trading Forex. In addition, I go through the 3 questions I ask myself weekly to identify the problem I face in my trading, and how to overcome them. That has made an immense difference. The advice shared in my Facebook Live Q&As are based on my own experience and the interviews I had with multiple successful traders on the Desire To Trade Podcast. This episode ends with a quick discussion on trading beliefs. Those can either make you broke or rich. Therefore, I suggest you spend some time evaluating your beliefs. A good way to start would be to listen to my interview with Dr. Van Tharp as he describes the belief examination process he makes his students go through. In This Episode, You'll Learn... What are impulsive trades The simple question that will keep you out of bad trades The 3 questions to evaluate your progress & get consistent profits faster Why your beliefs can make you a broke trader - and how to change that! Share This [bctt tweet="I've never seen a book telling you to surround yourself with other traders, yet it's so crucial" username="desiretotrade"] What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group! Resources Mentioned My interview with Dr. Van Tharp DesireToTRADE's Top Resources DesireToTRADE Forex Trader Community (free group!) Complete Price Action Strategy Checklist One-Page Trading Plan (free template) DesireToTRADE Academy (lifetime membership promo until Dec. 18th 2016!) About The Desire To Trade Podcast Subscribe via iTunes (take 2 seconds and leave the podcast a review!) Subscribe via Stitcher Subscribe via TuneIn Subscribe via Google Play See all podcast episodes

Anmol Singh: Mindset & Technical Keys To Trading Income In episode 69 of the Desire To Trade Podcast, I interview Anmol Singh, a stock, and Forex trader. The thing I find interesting about Anmol is the efforts he puts to trade those two markets both intraday and swing. In short, this interview is packed with very tactical and comprehensive tips in regards to trading routines and the "how-to-trade" aspect. However, Anmol surprised me by sharing great advice on building a mindset that will help you generate an income from trading. I sincerely believe that the way to improve the most consists of improving your mindset and state of mind prior to trading. Anmol had great tips on that. Overall, one of the biggest lessons you can get from this interview is the power of walking away from your trading desk. Often times, you are much better removing yourself from the equation and leaving the market do its job. Your job as a trader is to accept the loss or profit and to keep executing as you should. You shouldn't be there to watch every single move the market does as this will often push you to act or feel stressed. It's simply counter-productive. Share This! Return on your investment is way more important than return on your ego!. @DeltaNinetyCLICK TO TWEETYou can either pay for knowledge of for not having enough of it. @DeltaNinetyCLICK TO TWEET In This Episode, You'll Learn… How Anmol Singh started to trade both stocks and currencies. Specific trading routines that give results. How to get yourself into the right trading mindset. How to use reward & punishment – concrete examples that work. "Treat yourself like a dog" :) The backtesting, forward-testing, and tracking basics. The power of walking away from your trading desk. The differences between stocks and Forex trading. The biggest challenge Anmol faced in trading. And much more! What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group! Resources Mentioned Free eBook: Behind The Curtain – Trading Secrets Exposed DesireToTRADE's Top Resources DesireToTRADE Forex Trader Community (free group!) Complete Price Action Strategy Checklist One-Page Trading Plan (free template) DesireToTRADE Academy (lifetime membership promo until Dec. 18th 2016!) How To Find Anmol Singh? Website: Live Traders Facebook Twitter Instagram Youtube About The Desire To Trade Podcast Subscribe via iTunes (take 2 seconds and leave the podcast a review!) Subscribe via Stitcher Subscribe via TuneIn Subscribe via Google Play See all podcast episodes

ONE Simple Thing To Improve Your Trading & Using Candlesticks In Forex Trading Every Friday, I host a live Forex Trading Q&A on Facebook. In this Q&A #6, I discussed the ONE thing you can do to improve your trading quickly. In addition, I discuss the use of candlesticks in the Forex market. This is based on my own experience. As a matter of fact, I met a fellow trader in person for the first time around the month of June 2015 and that has made a significant impact on myself and my trading. It is also one of the major reason why I started the Desire To Trade podcast. When it comes to candlesticks, I believe that traders spend too much emphasis on the candle close. That might be useful on a high timeframe but it doesn't mean much on a very low timeframe. In This Episode, You'll Learn… Algorithmic vs. Manual Trading ONE Simple Thing You Can Do To Improve Your Trading Quickly My Take On Using Candle Close To Trade Using Market Sentiment In Your Trading Share This I've never seen a book telling you to surround yourself with other traders, yet it's so crucialCLICK TO TWEET What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group! Resources Mentioned Interview with Kevin Davey on algorithmic trading DesireToTRADE's Top Resources DesireToTRADE Forex Trader Community (free group!) Complete Price Action Strategy Checklist One-Page Trading Plan (free template) DesireToTRADE Academy About The Desire To Trade Podcast Subscribe via iTunes (take 2 seconds and leave the podcast a review!) Subscribe via Stitcher Subscribe via TuneIn Subscribe via Google Play See all podcast episodes

Jean-François Boucher: Trading Tips From A Forex Scalper In episode 68 of the Desire To Trade Podcast, I interview Jean-François Boucher, a Forex scalper located in Jasper, Alberta. Jean-François started to trade stocks in the 90s as he worked for IBM. After losing countless amounts of money in options, he discovered the Forex market. What I particularly like about Jean-François is his down-to-earth approach to trading. As a matter of fact, he knows there are no tricks to succeed quickly in trading. You must put in the work. He also mentions a crucial fact, that is, risking 1% per trades allows you to come back. While we often see people risking way more than that, Jean-François' advice is still very important. You can't expect to increase your risk too high and stay in the game of trading for very long. As traders, we are professional losers, so we better account for that. Jean-François says: "it always starts small", and that is the mindset you need to have if you want to see progress without blowing up countless trading accounts. Share This! You are your own holy grail. - Jean-Francois Boucher CLICK TO TWEET Stay 99% flat always. Put 1% on your trades. - Jean-François Boucher CLICK TO TWEET In This Episode, You'll Learn… How Jean-François first got involved in the Forex market. The advantages of trading the Forex market. How to go through the different phases of trading. Losing money, breaking even, making some money, making tons of money. How to remove (or reduce) indicators from your trading. What the world looks like for a scalper. How to scalp the market effectively. An interesting way to journal about your trades. The problem with trading robots Very important money management rules no one mentions. And much more! What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group! DesireToTRADE's Top Resources DesireToTRADE Forex Trader Community (free group!) Complete Price Action Strategy Checklist One-Page Trading Plan (free template) DesireToTRADE Academy How To Find Jean-François Boucher? Website: JasperForex Facebook About The Desire To Trade Podcast Subscribe via iTunes (take 2 seconds and leave the podcast a review!) Subscribe via Stitcher Subscribe via TuneIn Subscribe via Google Play See all podcast episodes

2 Reasons Why Traders Blow Up Their Accounts & The Power Of Consistency Every Friday, I host a live Forex Trading Q&A on Facebook. In this Q&A #5, I discussed reasons why traders blow up their accounts. This topic came up after I had multiple people reaching out to me, as they felt discouraged saying they blew up their trading accounts. In the end, there are only 2 reasons this can happen: You risk too much on any given trade (money management). You have no tested plan. As much as aspiring traders want a quick & easy solution, there's no need to complicate things here. Create a plan, test it, and ensure you have a way to stay in the trading game (hint: not risking too much money on any trade). A good way to put down your trading plan is with my One-Page Trading Plan Template (you can download it for free!). The second topic covered in this Q&A is consistency. Simply put, most struggling traders aren't consistent and focus solely on making money. However, once you become consistent in trading, doors open to you. As a matter of fact, I was able to trade for investors and other people because I had that consistency In This Episode, You'll Learn... 2 Main Reasons Why Traders Blow Up Their Trading Accounts How To Create Your Trading Plan In A Very Short Period The Money Management Guidelines I Follow How To Exponentially Grow Your Consistency In Trading Share This "The holy grail of trading is consistency. Become consistent and doors will open to you." -> Click to tweet! What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group! Resources Mentioned Interview with George Papazov Interview with Alwin Ng Interview with Ryan Herron How To Avoid Blowing Up Your Trading Account Guide To The Ultimate Trading Plan Download the 1-Page Trading Plan Online Forex Trading Summit on Nov. 23rd DesireToTRADE's Top Resources DesireToTRADE Forex Trader Community (free group!) Complete Price Action Strategy Checklist One-Page Trading Plan (free template) DesireToTRADE Academy About The Desire To Trade Podcast Subscribe via iTunes (take 2 seconds and leave the podcast a review!) Subscribe via Stitcher Subscribe via TuneIn Subscribe via Google Play See all podcast episodes

Kevin Davey: Building Winning Algorithmic Trading Systems In episode 67 of the Desire To Trade Podcast, I interview Kevin Davey, an algorithmic trading system builder, and trader. He is the author of a very well written book on the topic titled Building Winning Algorithmic Trading Systems. The number of trading systems developed by Kevin is impressive. At the time of recording the interview, he had 95 trading strategies. Over his 25 years of experience, Kevin has been developing, analyzing, testing and creating trading strategies in every futures market from the e-mini S&P to crude oil to corn to cocoa. At the moment, he trades full-time for his own personal account, while helping traders around the world see more results in their trading. Kevin contributed to the excellent trading book The Universal Principles of Successful Trading by Brent Penfold, where he was featured as a "Market Master." That book was part of my list The Forex Trading Books That Incredibly Improved My Own Trading In This Episode, You'll Learn... How Kevin started with automated systems trading How he lost $1,500 on a $5,000 account in a single week! The myth of algorithmic trading & trading psychology. The step-by-step process Kevin uses to build winning algorithmic trading systems. The main tasks of an automated system trader. How Kevin was able to build several algorithmic trading systems. What most traders do wrong when trying to create a trading system. And much more! What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group! Resources Mentioned Kevin Davey's Book: Building Winning Algorithmic Trading Systems, + Website: A Trader's Journey From Data Mining to Monte Carlo Simulation to Live Trading (Wiley Trading) DesireToTRADE's Top Resources DesireToTRADE Forex Trader Community (free group!) Complete Price Action Strategy Checklist One-Page Trading Plan (free template) DesireToTRADE Academy How To Find Kevin Davey? Website Linkedin Twitter Email About The Desire To Trade Podcast Subscribe via iTunes (take 2 seconds and leave the podcast a review!) Subscribe via Stitcher Subscribe via TuneIn Subscribe via Google Play See all podcast episodes

Forex Trading Q&A: You Cannot Predict News in Forex & Improving Your Trading This is a Live Forex Trading Q&A I hosted. We discussed very important topics that you can surely learn about. Join the Facebook group: www.desiretotrade.com/group/