It’s always good to take stock now and again.
This week I get Andre Stewart, my trading mentor, back on the show to have a blunt chat about the markets, asking the question “Are they really manipulated?”, trading educators “What’s really going down?” and then we turn the spotlight on my own trading… Yes… “How is your podcast host getting on with his goal of earning $1000/day in the Forex markets by the end of the year?”.
Andre is one of those guys who lives the markets and seeks out only the best trading education. He also listens to this podcast religiously… So tapping into his mind for an hour may help provide some clarity to things you’ve been wondering about and at least give you a balanced view on others.
Traders willing to share like this don’t come around that often, so make the most of it while you can!
- [13:13] Price seeks liquidity. Price literally seeks liquidity.
- [16:43] Banks don’t trade! Banks take very few trades. Banks hold positions based on interest rate differentials and other factors.
- [17:03] Retail stop losses do not cover anything big enough to satisfy an institutional order.
- [17:36] Anyone who trades retail like me was a loser at one point.
- [20:07] I don’t want anybody’s theory. I need to know what goes on behind the scene.
- [21:22] If people would just take a non-biased look at charts, the answers are all there.
- [27:20] You need to learn how price works and then you have to adapt it to how you see the market.
- [30:50] Just stick to something that was yielding you the most success. You do not need to overhaul everything it is that you do.
- [33:10] Sometimes you have to reverse engineer your winning trades.
- [35:53] I know that price will react to very specific price’s. That’s how I get trades with zero drawdown.
- [36:30] Get to a point where you know you’re wrong and you exploit it.
- [44:40] You don’t need to take a $200,000 loss to be a good trader.
- [46:46] It’s not even about making money, it’s about mastering your craft.
- [47:47] You got to ask yourself, are you trading for the love of trading or are you trading for money?
- [53:14] Think of it as a habit. Building a new habit and then eventually it becomes ingrained in you.