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

Brian McAboy: Succeed In Your Forex Trading Business In episode 62 of the Desire To Trade Podcast, I interview Brian McAboy, an experienced trader, trading coach, and business consultant with a passion for helping traders understanding the business aspect of trading. I was pleased to go through Brian's book titled "Trading Psychology's Missing Chapter: Enough To Be Dangerous". I couldn't put the book down as I absolutely could relate. Overall, Brian is very knowledgeable when it comes to transform topics seen as complicated & boring by most traders into easy-to-implement tactics.   Topics Covered - Brian McAboy How Brian turned $30,000 to $47,000 and went down to nothing Brian's top difficulty in trading The very first step of trading most traders miss Your multiple roles as a trader & wearing the hats How & why to set your parameters as a trader What 4 tactics you can implement to treat trading as a business The 2 learning curves of a trader (how to trade + how to work for yourself) Why you mus

Carley Garner: All You Need To Know About Commodity Trading Show notes: http://www.desiretotrade.com/carley-garner/ In episode 61 of the Desire To Trade Podcast, I interview Carley Garner, a commodity and option trader. She is the woman behind DeCarley Trading, an award-winning commodity broker. Carley have been in the trading business for over 12 years and started with options from day 1. Carley mentions that option trading is done at a slower pace than other assets such as Forex, stocks, and futures. 90% of options expires worthless. We also discuss option selling, a way to make money on a higher probability with unlimited risk. As an option buyer, the risk is limited but the probability of making a profit is smaller.  Pieces Of Advice "Be fearful when others are greedy and greed when others are fearful." CLICK TO TWEET "There's not a right or wrong way to trade, just the one you're comfortable with." - @CarleyGarner CLICK TO TWEET Topics Covered – Carley Garner How being contrarian can make you a great t

Adam Grimes: Building Your Edge In Any Financial Market Join the Facebook group for more free resources In episode 60 of the Desire To Trade Podcast, I interview Adam Grimes, a stock, futures and currency trader with a formal education as a musician. Adam trades for a living and is also behind his personal blog. He started in Futures trading several years ago and was over-leveraged. Adam reminds us that there are countless ways to make money in the market, but that a trader's method must be defined in advanced. While a lot of traders rely blindly on trading psychology, Adam highlights the fact that having a proven system is essential from the start. During this interview, Adam mentions one thing I have noticed from discussing with struggling traders. Most traders who do not have consistent results haven't even tested their systems but want to believe that their system work. Topics Covered - Adam Grimes Why common trading advice can be wrong The technical analysis concepts that don't have an edge How quantit

Albert Maté: Trusting Your Vision And Taking Action To Create A Winning Trading System Show notes: www.desiretotrade.com/albert-mate/ In episode 59 of the Desire To Trade Podcast, I interview Albert Maté, a good friend of mine in Montreal who, after being involved in the trading world for several years, is working on a very interesting algorithmic winning trading system. Albert started in scalping. He was trying to make less than a few cents by himself in a Montreal firm called Swift Trade. As his learning curve was fairly flat in the beginning, Albert learned things the hard way through the 2000's bubble. He ended up taking a break off trading, which was a very sound decision. According to a statistic mentioned by Albert, 85% of portfolio managers aren't able to beat the S&P500. That is a key figure to keep in mind. Albert's trading system performance is available on his website Albitrading.com. Although I thought this interview would be mostly useful for algorithmic traders, the conversation moved to a

Paul Wallace: Peak Performance And Trading Success Read the show notes: www.desiretotrade.com/paul-wallace/ In episode 58 of the Desire To Trade Podcast, I interview Paul Wallace, a trader with a high emphasis on peak performance located in London, UK. After a career in the Royal Air Force Paul started trading whilst working in the City during the dot-com boom of the late nineties. Paul is a professional financial trader with more than 24 years’ experience working in competitive, results-driven, performance environments. He has experience trading both as an individual and for funds. Paul has always been fascinated by success, achievement and peak performance, whether on the battlefield, sports-field, boardroom or financial markets. He blogs about his own trading at FXTraderPaul.com. He also runs the trader support practice, Tradingbeliefs, helping traders manage and improve their overall performance.   Fear-Based Traders (FBT) vs. Greed Based Traders (FBT) Fear-based traders must have a simple system and know

Van Tharp: Transforming Traders Through Their Beliefs Show notes: www.desiretotrade.com/van-tharp/ In episode 57 of the Desire To Trade Podcast, I interview Dr. Van Tharp, a very well-known leader of the trading industry. From the start, Dr. Van Tharp has, very similar to me, a desire to have an impact. That is something I admire a lot. During the interview, Dr. Van Tharp asked me about my own beliefs and we went through the "belief examiner" process, which has been very interesting for me. This has been a key elements for traders' transformations. Trading mistakes are an important part of this interview. Dr. Tharp says traders should aim for 100 trades with a 95% compliance to their rules.     Topics Covered - Dr. Van Tharp How Van Tharp has transformed traders What is a successful trader How beliefs influence all traders You always trade your beliefs. The market is only a representation that we interpret based on what we think. No belief is 100% useful, they are only useful in a context. Keys to reach a

Rayner Teo: The Steps To Become A Successful Trader Full show notes: www.desiretotrade.com/rayner-teo/ In episode 56 of the Desire To Trade Podcast, I interview Rayner Teo, an independent Forex trader from Singapore and the founder of TradingwithRayner. Rayner started trading at a young age, after he learned there was a trading competition in his university. He soon discovered that becoming a successful trader required a specific strategy. Even after trying several strategies and trading techniques, he couldn’t seem to figure out how to trade successfully. It took him some time, but eventually Rayner had his breakthrough moment. He realized that he had to stick to something (for at least 100 trades) if he wanted to progress. During this interview, we discussed a few technical topics, but also how Rayner Teo makes his trading journal, and very importantly, the process traders have to go through to become successful while cutting down the cost of their education. Rayner has a very strong understanding of techni

Marina Kuperman: Self-Improvement Is A Must For Trading Success Read the show notes In episode 55 of the Desire To Trade Podcast, I interview Marina Kumperman Villatoro, a Futures trader and the woman behind The Trader Chick, a blog and academy through which she wishes to impact women to learn to trade and make it part of their lifestyle.    Question & Cheat Sheet - Marina Kuperman Villatoro How Marina got introduced to Futures trading Mixing trading and self-improvement The commitment you need to make to become a successful trader. How to overcome the 2 main barriers to day trading Lack of focus and lack of time. The importance of clearing your mind before you start to trade - and how to do it! Marina's techniques to analyze the market How to focus while trading Trading habits Marina has to trade successfully Starts by checking the news 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!

Chris Capre: Work Harder On Your Mindset Than You Do On Your Strategy Read the show notes In episode 54 of the Desire To Trade Podcast, I interview Chris Capre, a Buddist, trader (Forex & Futures), and philanthropist. He’s the man behind 2ndSkiesForex. I personally consider Chris as a leader in the trading industry. What’s more, he created a useful framework that any trader can follow to see results in trading. Chris was fortunate to experience great success very early in his trading career, but eventually realized he hadn’t done things intelligently. One day during the London session, he lost $15,000. That was an important changing moment for him. During his interview, Chris and I discussed some of the pillars to successful trading. Overall, your success comes down to how you handle the Technical, Mindset, and Money Management aspects of trading.   Question & Cheat Sheet – Chris Capre Why Chris trades the Asian session & how he does it How he was able to succeed quickly in trading and lost $15,

James Harte: A Forex Swing And Day Trader Shares Pieces Of Wisdom In episode 53 of the Desire To Trade Podcast I interview James Harte, a Forex trader based in England that has a passion for helping others. Through Little Fish FX, he aspires to democratize the foreign exchange market by providing high quality educational materials, pro trader analysis, trading strategies and market-leading tools & indicators to retail traders of all experience. James has a good understanding or both swing and day trading. This is particularly interesting as he says not having a preference between those two styles of trading. Somehow, I feel the same. We've had the chance to discuss several topics in this podcast episode, including James' best and worst trades as well as the mistake he sees traders make. We also touched on his trading methodology. This is an important part of the interview since any trader must have a solid trading plan.     Cheat Sheet / Topics Covered - James Harte How James' dad influenced him to go in

Jason Sen: The Art Of Technical Analysis And Trading Ideas In episode 52 of the Desire To Trade Podcast I interview Jason Sen, a Forex trader and technical analysts with a lot of experience working for institutional clients. Jason is also the man behind Day Trade Ideas. Jason currently lives the good life in Thailand, a well merited location as he started to trade in early in college (1987) when his father introduced him to trading. He quickly got into stocks and was surrounded by charts, which he learned to interpret. What I really like about Jason is his simple approach to technical analysis. He uses it to provide technical reports and trading ideas to his clients without making things too complicated. He is the perfect person to tell you what you should focus on when looking at a Forex currency pair, or any other market. A very important concept discussed in this podcast episode concerns how to deal with a series of losses. Those are inevitable and Jason went through several series of losses. He was then a

Adam Jowett: Adapting Forex Trading To Your Lifestyle In episode 51 of the Desire To Trade Podcast, I interview Adam Jowett, a Forex swing trader I highly respect for his experience and his blog AdamJowett.com. Adam has learned to build trading around his personality and the lifestyle he wanted. He has been trading various methods on the Forex market over the years, but currently focuses on trading the 4hr and daily charts. I came across Adam's blog several times and got really interested when I discovered his Forex Market Session Indicator (available to download below). I personally used it to backtest trading strategies on different market sessions of the Forex market. In this interview, Adam shares some of the best tips and insights he got from 15 years as a trader. Living in Australia, he had to adapt. However, the good thing about the Forex market is that you can trade it 24 hours a day. For instance, due to his time zone, Adam used to focus on the Asian session. Cheat Sheet / Topics Covered - Adam Jowet

Rob Colville: The Lazy Trader (Higher Time Frame Trading) In episode 50 of the Desire To Trade Podcast, I interview Rob Colville, a Forex trader using a method to trade higher time frames and maximize his lifestyle. He is the man behind the site The Lazy Trader. Rob trades exclusively on the daily and weekly time frames. He looks for several types of trades and do not care so much about trading. His goal is to have the life he desires first. An important topic discuss during this episode is the importance of not setting your expectations too high. The #1 goal of a trader is to preserve the capital and the secondary goal is to trade. For a newer trader, the essential goal consists of not losing money. Then, overtime, it is more acceptable to aim for a certain return.     Topics Covered - Rob Colville Rayner's learning process  The one book that helped Rob The amount of money you need to trade The Lazy Trader's lifestyle How to start trading higher time frames from scratch Using reward and punishments to reach

Patrick James: Working On Your Self-Images & Other Ways To Succeed If this isn't the first podcast episode you're listening to, you certainly know how passionate I am about trading. Sometimes, however, I like to expand my perspectives and bring guests outside the trading world on the Desire To Trade Podcast. These guests bring unique ideas based on their own field of expertise. So far, I've been greatly impressed by the advice the non-traders provided on energy & fitness.  And here's one more! In episode 49 of the Desire To Trade Podcast, I interview Patrick James, a charisma expert who shares his best advice on crushing it in life. The interview started with an off-topic conversation about charisma. Then, Patrick mentioned the book Psycho-Cybernetics by Maxwell Maltz. Psycho-Cybernetics is all about self-image. According to Maltz, “you will act like the sort of person you conceive yourself to be.” If you want to ensure you succeed in trading over the long-term, you must not only understand how to tra

Chris Claflin: A Futures Trader Who Dropped Out of School In episode 48 of the Desire To Trade Podcast, I interview Chris Claflin, a Futures trader and the host of the new Uncharted Podcast. I strongly recommend you check out his podcast. It has a very impressive & uncommon touch to it! Chris started to trade in College. Learning to trade wasn't an easy task while he was pursuing studies of become a dentist. Soon, however, Chris dropped out of school as he realized he could make more money trading than working in dentistry. These days, Chris is primarily a trend trader. That means he focuses on entering in the direction of strong market trends, hoping that the trend will keep going. Several traders interviewed on the Desire To Trade Podcast adopt this trading style. What distinguishes Chris, however, is that he often looks to catch up trends within a larger trend. His trades are therefore in alignment. Question & Cheat Sheet - Chris Claflin How Chris got introduced to Forex trading The danger of Fore

Ellaine Escueta: Tripling Your Trading Account While You Forgot About It In episode 47 of the Desire To Trade Podcast, I interview Ellaine Escueta, a Forex trader with a passion for trading. She is the women behind Trading Elevated. Ellaine had no interest for trading at first, but picked up a book about the subject in school. As time went on, she started to get more and more involved and interested in the idea of making a living off Forex trading. However, things didn't work out as planned and Ellaine got discouraged. She stopped trading for a while. Eventually, she went back to check her account. She realized it had doubled due to a trade that was left open. If only she could do the same thing, she would be able to make money. That piqued her curiosity. She started to get back in trading, took a course, and was eventually able to make a consistent income from Forex trading. [bctt tweet="Never let anyone define what you can and can't do! - @ellaineescueta" username="desiretotrade"]   Question & Cheat She

Kim Krompass: Day Trading For A Living With Price Action   In episode 46 of the Desire To Trade Podcast, I interview Kim Krompass, a Forex price action day trader and the woman behind the Price Action Traders Institute. She is the very first woman to be featured on the podcast. During this interview, Kim shared a lot about her view on day trading vs. longer term trading. She also mentioned several times the importance of keeping things simple, a concept I totally agree with. [bctt tweet="Perfectionism is the enemy of profit. - @priceactionkim" username="DesireToTrade"] Question & Cheat Sheet - Kim Krompass How Chris got introduced to Forex trading How Kim turned her trading around and started seeing results The important is to focus on behaviors you understand and make sure that they fit your criteria. Why she prefers day trading The goal is not to copy other people. That won't make you successful. How much time Kim spends trading The importance of a planning process Kim plans her trade every morn

The Power Of A One-Page Trading Plan I resisted the idea of creating a trading plan for so long... but the moment I finally came up with my first trading plan, I felt much better. First, I no longer had to keep everything in my head as I used to do. Second, I had clear guidelines concerning what I was supposed to do. The problem: that trading plan took 30 days to write and was huge. It was very hard for me to go back in that plan to check something. A couple months ago, I came up with the idea of simplifying my plan on a single sheet of paper. The truth is, I've always been a fan of tracking checklists for their simplicity, but I wanted to bring the concept further. As soon as I completed my One-Page Trading Plan, I posted it on my trading desk. I has made a huge difference. Instead of having a set of entry rules, I have everything I need to see on that plan. In episode 45 of the Desire To Trade Podcast, I share about my experience with trading plans and tell you precisely how to create a powerful one-page tr

The Great Advice From Market Wizards w/ Jack Schwager If I were to ask successful traders the ONE book that influenced them and guided them through becoming traders, Market Wizards would definitely come up. The book contains interviews with traders who are living off trading from around the world. It turns out to be packed with great lessons and highly inspirational. In episode 43 of the Desire To Trade Podcast, I interview the legendary Jack Schwager, the author of Market Wizards and a number of different trading-related books that made a great impact in the world of trading. The book Market Wizards has been recommended numerous times on the podcast. I myself read it several times. Question & Cheat Sheet - Jack Schwager The new project Jack is currently woking on (more information) How Jack got involved into trading and the results of it Full list in Top 5 News Releases You Should Care About As A Forex Trader How Market Wizards was written Putting in the work every day from morning to night! The b

Trade Like A Casino w/ Richard Weissman "Trade like a casino" sounds like an awesome idea, right? After all, what do casinos do? They have a system/strategy to ensure that they are going to have an edge over the long-run. Does that mean the casino is going to win every poker game? Not at all, but over time, it is almost guaranteed to make money. In episode 42 of the Desire To Trade Podcast, I interview Richard Weissman, the author of Trade Like A Casino and a number of different trading-related books that showcase a very insightful and researched methodology to trading. The interesting thing about Richard is that he focuses a lot on research and backtesting. That allows him to develop mechanical trading systems that he is then able to use with a positive expectancy. During this episode, Richard and I discuss what it means to "trade like casino" and how traders can apply this principle in their trading. It's not only about the trading strategy, but also in regards to emotions and psychology. These days, Richar