In today’s episode, we have returning guest, Scott Welsh, who has achieved a remarkable feat in the world of forex trading. He came second in one of the hardest trading competitions, and he’s here to share his best-kept secrets with us.
Forex trading is a highly competitive and challenging field, where traders have to navigate volatile markets and constantly adapt to changing economic conditions. To come second in a trading competition is a significant accomplishment and a testament to our guest’s skills and expertise.
Throughout the episode, we’ll delve deep into our Scott’s trading strategies, techniques, and mindset that helped him achieve success in the forex market. We dive deep to find his best-kept secrets, tips, and insights that will help novice and experienced traders alike.
So, whether you’re a seasoned trader or just starting your trading journey, this episode is a must-listen. Get ready to take notes and learn from one of the best in the business.
Podcast Interview
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Key Lessons
[09:44] If you’re going to be a trend follower, put it on something that trends.
[16:22] If you take a timeless concept, your chances of it working next year are pretty good.
[29:28] When you are using a trending instrument, if you just put maybe 3:1, 4:1, if you generally have a big profit target that’s bigger than your stop; then you don’t have to be too specific.
[48:23] Get someone that you trust and try it or take something long-term that you can handle easily and then just automate it from there.
