A popular member of the Trading Nut chat room, Cas Daamen, a part-time trader from the Netherlands, decided there was more to life than a cushy 9-5 office job, so decided to take the road less travelled and picked Forex trading instead.
Now, while most of us aspire to be full time traders, sometimes the part time approach is needed in order to make that transition.
So, how do you go about becoming a part-time trader “the right way”? Is there even a right way to do this? Well, I think there is and you’ll hear this approach shared (step-by-step) during our interview.
And when you’ve heard Cas’ story, check out the video below where he shares exactly what he’s doing on a price chart.
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Cas’ Trading Strategy Explained
[13:35] Back testing is always different than trading the strategy live.
[15:03] If you have figured out when you can make money on the market, why then take setups that you don’t know if it will make money in the long run or not?
[15:22] If you know when you can make money, then why waste money on things if it will not bring you any money?
[22:50] Trading part-time is the best option for most people.
[24:39] If you don’t have an edge in the markets, you can still do all the positive thinking that you want but, you will lose money.
[24:52] You need an edge and good psychology isn’t going to fix the lack of edge you have.
[25:13] If it doesn’t fit with your personality, you’re going to make mistakes and it will never work.
[26:07] If you trade empty concepts, it will not work.
[26:30] Analyze yourself and figure out what kind of trading fits with you.
[27:14] A Trading journal is boring but, it really helps you to get better.
[29:44] Learn about accumulation and distribution.
[30:35] You need two things: discipline and patience.
[31:14] If you’re not disciplined outside of trading, you won’t be disciplined with trading.
[33:53] Focus on finding an edge that fits your personality and don’t focus on blaming your psychology.