Cas Daamen shares his journey to becoming a profitable trader and offers advice for aspiring traders. He emphasizes the importance of transitioning from discretionary to mechanical trading and keeping a simple system.
Cas also discusses the need for multiple strategies to diversify risk and shares his approach to finding edge in the market. He recommends studying supply and demand, order flow, and volume to understand how the market moves.
Cas also talks about the importance of realistic expectations, good psychology, and risk management for success in trading.
Podcast Interview
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Interview Link
Instagram – @daamencas
Website – CDFXTrading.com
Cas’s Breakout Trading System
Cas’s Back Testing Blueprint
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Key Lessons
[01:09] Most people have a discretionary style of trading, but discretionary trading relies on experience which you don’t have as a beginner.
[06:50] If you analyze the performance of hedge funds and really good firms and good traders, they don’t win every month.
[06:57] Having realistic expectations, knowing what you can achieve with trading, combining that with the right chart knowledge, is a great way to start and develop as a trader.
[08:41] Becoming a profitable trader really comes down to three main things, having a strategy with edge that fits with your personality, having the balls to trade the strategy during the good and bad periods, and being able to scale up capital and managing risk.
[11:43] Focus on learning how to properly back test something.
[14:38] Learn supply and demand, learn a bit of order flow and level 2 data.
