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

A Truck Driver Who Blew Up 9 Accounts To Become A Profitable Trader w/ Ryan Herron Episode 37 of the Desire To Trade Podcast features Ryan Herron, a binary option and Forex trader. HIs story of how he became a profitable trader is very interesting due to the fact that he blew up 9 accounts but kept going. He could see a progression in his results, which made him think that by staying in trading, he would eventually make it. And he did! During this interview, Ryan and I discussed the fact that, while most traders are looking to get rich overnight, the right amount of action over a longer period of time is required. An aspiring lawyer or doctor must go through a long education process and spend a lot of money. Why would aspiring Forex traders avoid that? Ryan mentioned the importance of focusing on ONE THING (one strategy or way of doing things). Then traders must not forget what comes after: being comfortable trading that one strategy. That strategy can be created or learned from someone else. Through backtesting, we, as traders, ensure that we know exactly what to do upon trading for real. What’s covered in the podcast? The difference between Forex and binary options How Ryan kept going after blowing up 9 accounts The steps Ryan took to learn and progress as a new trader What Ryan sees as the biggest mistake traders make (hint: adding to a losing trade) Examples of focusing on one thing to succeed And so much more... Resources Mentioned Forex Tester 2 (affiliate link) Forex Trading Strategy for Trending Markets (article I mentioned at the end of the episode) Get the FREE Complete Price Action Strategy Checklist: http://www.desiretotrade.com/checklist/

The Development Of An Automated Trading System w/ Shaun Overton Watch the video interview! Episode 36 of the Desire To Trade Podcast features Shaun Overton, the automated trading system developer also founder of One Step Removed. Shaun started in the forex industry in 2005 working as a broker at FXCM. He led the sales effort for an automated trading fund, which led to his interest into automated trading. He then went on to create his own systems that now allow him to live off them. At the opposite of what I believed, Shaun says developing an automated trading system isn't so complicated. One must learn how to program first. Then, there's a clear process, described during the interview, anyone can follow. Shaun spends his days researching. This is a passion for him, but his goal is to create more systems that produce positive results. He shared about the exact things he's looking at and the sort of system he has developed. Although this podcast episode appears fairly technical, there's something that can be learned by any trader. Both automated system traders and manual traders must backtest their trading plan. One of the common problem consists of backtesting only for a restricted period of time and optimizing the system for that period. The world of automated can be highly fascinating for traders with an interest for statistics and programming. For more on that topic, I recommend listening to DTTP 011: The Fascinating World of Automated Trading and checking what Shaun is doing at One Step Removed. What’s covered in the podcast? What it's like to be an automated system trader Examples of factors predicting the movement of a currency pair The steps to develop an automated trading system The biggest mistakes made when developing an automated trading system What type of broker works best for automated system traders Best resources to learn to program And so much more...

Lessons From A Successful Forex Day Trader w/ Casey Stubbs Episode 35 of the Desire To Trade Podcast features Casey Stubbs, a Forex day trader and the man behind Winner's Edge Trading. Casey usually starts his day around 6:30 am EST and is done with trading by noon. He specializes on trading the EUR/USD pair and uses only simple trading strategies. Upon finishing his trading day, Casey has the rest of the day for his other occupations: spending time with his family and running his website. Over the course of this podcast episode, Casey Stubbs mentioned the fact that traders must have their own trading strategies. Copying other traders' systems isn't a way to become consistently profitable. Aspiring Forex traders must firstly learn as much as possible. Then, they personalize their trading strategies. That helps a lot to stick to one strategy. As his last piece of advice, Casey mentioned the idea of trading small position sizes in order until becoming consistently profitable. Only then can Forex traders start to increase their position size. What’s covered in the podcast? The difference between simple and complicated trading strategies How Forex traders can easily get support Casey's biggest mistakes as a Forex trader The main objective for a trader (it's not making money!) What happens just before you finally stick to ONE trading strategy What keeps Casey motivated each day And so much more...

Trade With Edge w/ Mike Bellafiore Episode 34 of the Desire To Trade Podcast features Mike Bellafiore, the co-founder of SMB Capital, a well-known proprietary trading firm based in New York, USA. Mike is also the author of One Good Trade: Inside the Highly Competitive World of Proprietary Trading and The PlayBook: An Inside Look at How to Think Like a Professional Trader. SMB Capital’s trader-training program was highlighted in the TV documentary Wall Street Warriors. His firm has appeared regularly on CNBC’s Fast Money, CNNMoney, Bloomberg, and Fox Business. I first heard of Mike Bellafiore and SMB Capital through Mike's first book called One Good Trade. It describes how things are done in a proprietary trading firm and provides real stories of traders who had or hadn't what it took to thrive in this world of trading. I highly recommend the book! Mike has a lot of experience working with traders and came to understand what made them successful. He also knows what the learning process looks like for a trader. During this interview, we discussed the traits traders must develop in order to succeed. At one point, I asked Mike what advice he had for struggling traders. He pointed out something very insightful. In his opinion, traders can't start and be successful right away. Struggling is simply part of the progress. There is a process traders must follow if they want to see results. It takes time but Mike Bellafiore, without any doubts, know what it's like. What’s covered in the podcast? How Mike Bellafiore started to trade How the learning phase is broken down A great piece of advice for struggling traders The culture at SMB Capital Andrew's #1 lesson for any trader What keeps Mike motivated each day And so much more...

The Most Valuable Insights On Trading Psychology - Andrew Menaker Episode 33 of the Desire To Trade Podcast features Dr. Andrew Menaker, a highly knowledgeable and well-known psychologist in the trading world. Since 1995, Andrew has been coaching traders and top fund managers to achieve a better performance. Being a trader himself, Andrew is frequently asked to speak at conference and is constantly being requested advices across the world. I, personally, have been blown away by this interview. The depth of the information provided and the great interest I had in the topic made me listen very carefully to every single words spoken by Dr. Andrew Menaker on trading psychology. From the start, Andrew Menaker mentioned "no one can master trading". This is a substantial thing to understand due to the fact that most of our decision-making is made subconsciously. Those looking to become perfect traders do not have a single chance to succeed. The next very interesting thing to note is that we, as traders, bring our own personality to trading. Two traders do not see the exact same chart the same way. In fact, "We don't see the market as it is, we see the market as we are" is a powerful statement! What’s covered in the podcast? Why no trader can master trading & what to do about it The source of our decision making The greatest ability you must develop as a trader What confidence truly is and how to get it Andrew's #1 lesson for any trader The true difference between a winning and a losing trade How to journal powerfully And so much more... Show notes: http://www.desiretotrade.com/andrew-menaker/ Get the FREE Complete Price Action Strategy Checklist: http://www.desiretotrade.com/complete-price-action-checklist/ Get the New FREE Perfect Engulfing Pattern Cheat Sheet: http://www.desiretotrade.com/perfect-engulfing-cheat-sheet-5/

The Professional Forex Trader With A True Passion For The Market Episode 32 of the Desire To Trade Podcast features Dimitrios Charalampidis, a professional Forex trader based in Greece, and the man behind Snail Trading. The best thing about Dimotrios has to be his incredible passion for trading. He spends a lot of time looking at the market and testing his way of trading. However, that leads him to great results. He is very knowledgeable regarding trading and the currency market. In this interview, Dimitrios shared his best advice for traders. We discussed the biggest mistakes he sees Forex traders make – including not accepting to make mistakes. Dimitrios thrives to reach a point where money is meaningless and where he will be able to explore his passion for the market at its fullest. He concluded the podcast episode with a powerful statement - "Be strategic. Not only set your goal but define the steps to achieve those goals." What’s covered in the podcast? Why you should focus on the result instead of trying too many ways to do something How traders can take profit to limit their losses Dimitrios' life as a Forex trader What Dimitrios believes most Forex traders do wrong The two aspects necessary to succeed (it has to do with goals) And so much more... Show notes: http://www.desiretotrade.com/dttp-032-professional-forex-trader/ Join The Facebook Group: http://www.desiretotrade.com/group Get the Free Complete Price Action Strategy Checklist: http://www.desiretotrade.com/checklist/

A Great Lifestyle And 18,000% Return In The Stock Market with Gil Morales & Chris Kacher Episode 30 of the Desire To Trade Podcast features Gil Morales and Christian Kacher from Virtue Of Selfish Investing. They discuss their philosophies on life and trading following the several books they wrote together. Aspiring traders would envy Gil and Christian' lifestyles of travel and discovery. At the time of our interview, Christian was in Buenos Aires. The book I first noticed, co-authored by Gil and Chris, is called Trade Like an O'Neil Disciple: How We Made 18,000% in the Stock Market. Gil Morales Gil began his investment career in 1991 as a stockbroker in the Beverly Hills branch of Merrill Lynch. In 1994 he joined PaineWebber, Inc. where he quickly achieved Chairman's Club status as a top producer. In 1997, William O'Neil personally recruited Mr. Morales to join William O'Neil + Company, Inc. where he spent the next eight years as a Vice-President, internal Portfolio Manager responsible for managing a portion of the firm's proprietary assets, and Manager of the O'Neil Institutional Services group responsible for advising over 500 of the largest and most successful institutional investors in the world, including mutual fund, pension fund, and hedge fund clients. Chris Kacher Chris went on to generate triple digit percentage returns for six years in a row during the 1995-2000 period before moving to cash for most of the 2000-2002 bear market, one of the worst in history. From 1996-2001, he served as chief research analyst for William O'Neil + Company, the New York Stock Exchange member firm, institutional research provider, and publisher of Investor's Business Daily newspaper. During this period, William O'Neil hand-picked Dr. Kacher to manage a portion of the firm's proprietary capital, whereupon Dr. Kacher became a top internal portfolio manager at the company. Chris has a very interesting educational background as he received his B.S. in Chemistry and Ph.D. in Nuclear Physics from University of California at Berkeley, where he co-discovered Element 110 on the Periodic Table of Elements and confirmed the existence of Element 106 for which his team named Seaborgium. Musically gifted, Dr. Kacher was classically trained on the piano beginning at age 3, composing his first song at age 5 which he called "Night Fog," and performing as a concert pianist from ages 5 to 12 in high-profile cities in the US and Japan. He released his debut CD comprised of 21 original piano compositions in 2009. What’s covered in the podcast? How Gil & Chris started to trade with very different backgrounds How Gil & Chris Made 18,000% return in the stock market What is their trader's lifestyle Fantastic pieces of wisdom And so much more... Show notes: http://wp.me/p6qxZI-zo Join The Facebook Group: http://www.desiretotrade.com/group/ Get the FREE Complete Price Action Checklist: http://www.desiretotrade.com/checklist/ Enjoy!

Choosing Your Forex Trading Broker - Part 2 Episode 29 & 30 of the Desire To Trade Podcast features Justin Hertzberg and Trent Hoerr from Forest Park FX. They share crucial elements to consider when one go about choosing a Forex trading broker. That is the first step for any trader. This interview contains a lot of material and is divided in 2 episodes. While many traders are ready to dive into Forex trading. It is important to take a few seconds and think about which broker would fit best. Various factors will influence the choice of a Forex trader's broker. In fact, this podcast episode contains the 6 things to consider when choosing a broker. About 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. What’s covered in the podcast? Trent and Justin's trading stories What's so interesting about the "broker side" The worst mistake traders make when choosing a broker 6 things to consider when choosing a Forex trading broker And so much more...

Choosing Your Forex Trading Broker - Part 1 Episode 29 of the Desire To Trade Podcast features Justin Hertzberg and Trent Hoerr from Forest Park FX. They share crucial elements to consider when one go about choosing a Forex trading broker. That is the first step for any trader. This interview contains a lot of material and is divided in 2 episodes. Part 2 is available here. While many traders are ready to dive into Forex trading. It is important to take a few seconds and think about which broker would fit best. Various factors will influence the choice of a Forex trader's broker. In fact, this podcast episode contains the 6 things to consider when choosing a broker. About 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. What’s covered in the podcast? Trent and Justin's trading stories What's so interesting about the "broker side" The worst mistake traders make when choosing a broker 6 things to consider when choosing a Forex trading broker And so much more...

Habits That Lead To Success In Trading Episode 28 of the Desire To Trade Podcast features Johan Nordstrom, a Forex trader living in Sweden. Johan launched TradingWalk, a website where he shows how to trade the markets in a smart yet powerful way and profit for life. This podcast episode turned out to highlight some important habits traders should adopt. One of the measures Johan tracks helps him stick to his plan. He mentioned the importance of establishing goals based on the trading process. Without goals, traders don't know how good they are. Johan, as an European trader must deal with another market than North American traders. I asked him about the pairs he prefers to trade. We also exchanged about a couple of noce places worth traveling to! What’s covered in the podcast? How to set goals as a trader How to meditate for great trading results A simple way to stick to your trading plan Implementing visualization for success What is the right mindset traders should get into trading with The famous typical trader's day Which pairs are best to trade as a European trader And so much more... Show notes: http://www.desiretotrade.com/dttp-028-habits-that-lead-to-success-in-trading/ Get Your FREE Complete Price Action Checklist: http://desiretotrade.com/checklist