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.

• 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 biggest lesson anyone can take from Market Wizards
• The #1 advice Jack has to offer aspiring traders
• 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!

The music at the end of the podcast has been produced by Daniel Hoshor. If you want custom & tailor-made music for your business, make sure to check him out at www.thedannyboiexperience.com.

Read the show notes

Get the 5 Crucial Insights About Trading Psychology That Will Make You A Better Trader for free!

"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, Richard focuses on his role as the CEO of CNV Capital Management, focusing on trading and system development.

• What it means to "trade like a casino" & why it's crucial
• How to reach the level of trading like a casino
  • Doing research
  • Having a mechanical trading system
  • Building confidence
• The types of strategies used by great traders
• How to backtest properly
• Discretionary trading like a casino
• 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!

The music at the end of the podcast has been produced by Daniel Hoshor. If you want custom & tailor-made music for your business, make sure to check him out at www.thedannyboiexperience.com.

Visit the show notes!

To know more about what I've been working on: http://www.desiretotrade.com/new

If you have been trading Forex for a while, you probably noticed the, sometimes, big spikes in the price of certain currency pairs. As a matter of fact, news reports are released almost every single day and the market tend to react strongly to them.

A quick advice: if you aren't aware of this, you NEED to listen to this podcast episode!

In episode 41 of the Desire To Trade Podcast, I interview Yohay Elam, the founder of Forex Crunch and host of Market Movers.

Yohay is very knowledgeable when it comes to fundamental analysis and what affects the currency market. He shared in great details what Forex traders can expect from news releases and what they have to look for. 

Yohay studied computer science, but learned about the Forex market mostly by himself through books and other self-education resources. He then started exchanging his ideas and view of the market with other people, an activity that proved itself to be very useful.

Today, Yohay publishes his analyses on his website and hosts a podcast where he shares what took place in the financial market.

[bctt tweet="Do not risk more than 2% of your trading account! from @forexcrunch" username="DesireToTrade"]

• The news impacting the Forex market
  • Full list in Top 5 News Releases You Should Care About As A Forex Trader
• What pairs are best to trade news in different countries
• • The more volatile pairs have a bigger and faster reaction to news
  • The USD/CAD tend to have a slightly delayed reaction to a news event.
  • News are often leaked and the reaction may occur prior to the official release on the GBP/USD.
• How day traders and swing traders can use news releases
• The single most important advice you need if you trade news releases

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!

The music at the end of the podcast has been produced by Daniel Hoshor. If you want custom & tailor-made music for your business, make sure to check him out at www.thedannyboiexperience.com.

See the show notes: http://www.desiretotrade.com/yohay-elam/

Get free resources to help you become a better Forex trader: http://www.desiretotrade.com/free

Dr. Andrew Menaker is a licensed clinical psychologist with a PhD in psychology. He is, in my opinion, the leading authority when it comes to trading psychology and has been recognized worldwide for his work in the fields of emotion management and emotion development. He has coached some of the world's top traders since 1995.

Following his interview on the Desire To Trade Podcast in episode 34, Andrew accepted to be part of a live Q&A session, which turned out to be highly actionable and instructive for all levels of trading experience.

Watch the video!

Get the highlights (important points)!

Get the 5 Crucial About Trading Psychology That Will Make You A Better Trader for FREE!

In episode 40 of the Desire To Trade Podcast, I interview Michael Toma, a futures trader who is also the author of The Risk of Trading: Mastering the Most Important Element in Financial Speculation.

Michael has a very interesting perspective on risk management and he shares several highly actionable tips you can apply to your trading to make risk management part of your business. That will be very useful if you are looking to succeed in the long-run and live off trading.

• Three steps to risk management: Identify - Assess - Control.
• The logic behind a stop loss
• The definition  of risk management: that was a natural transition for Dave.
• How and why to start small: this is the key if you want to succeed.
• The quest to make money is very dangerous.
• Results will guide your actions as a trader: you must see results before increasing your risk.
• Dealing with compliance: track your compliance ratio.
• Overcoming boredom trades: Identify - Assess - Control -> Make a plan.
• Reviewing your risks will help you a lot.
• You need to make risk management part of your trading business.

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!

The music at the end of the podcast has been produced by Daniel Hoshor. If you want custom & tailor-made music for your business, make sure to check him out at www.thedannyboiexperience.com.

In episode 39 of the Desire To Trade Podcast, I interview a

Dave started trading in college while he was in Boston. He first

The interviewed covered several topics, but one of them highly

What is one thing you are going to implement after

The music at the end of the podcast has been produced by Daniel

Register here for the webinar: http://www.desiretotrade.com/webinar

Music by www.thedannyboiexperience.com

In episode 38 of the Desire To Trade Podcast, I share the 5

I see that a lot of aspiring Forex traders spend a lot of time

Episode 37 of the Desire To Trade Podcast features Ryan Herron, a binary option and Forex trader.

HIs story of how he became a profitable trader is very interesting due to the fact that he blew up 9 accounts but kept going. He could see a progression in his results, which made him think that by staying in trading, he would eventually make it. And he did!

During this interview, Ryan and I discussed the fact that, while most traders are looking to get rich overnight, the right amount of action over a longer period of time is required. An aspiring lawyer or doctor must go through a long education process and spend a lot of money. Why would aspiring Forex traders avoid that?

Ryan mentioned the importance of focusing on ONE THING (one strategy or way of doing things). Then traders must not forget what comes after: being comfortable trading that one strategy. That strategy can be created or learned from someone else. Through backtesting, we, as traders, ensure that we know exactly what to do upon trading for real.

Forex Tester 2 (affiliate link)

Forex Trading Strategy for Trending Markets (article I mentioned at the end of the episode)

Get the FREE Complete Price Action Strategy Checklist: http://www.desiretotrade.com/checklist/

Watch the video interview!

Episode 36 of the Desire To Trade Podcast features Shaun Overton, the automated trading system developer also founder of One Step Removed.

Shaun started in the forex industry in 2005 working as a broker at FXCM. He led the sales effort for an automated trading fund, which led to his interest into automated trading. He then went on to create his own systems that now allow him to live off them.

At the opposite of what I believed, Shaun says developing an automated trading system isn't so complicated. One must learn how to program first. Then, there's a clear process, described during the interview, anyone can follow. 

Shaun spends his days researching. This is a passion for him, but his goal is to create more systems that produce positive results. He shared about the exact things he's looking at and the sort of system he has developed.

Although this podcast episode appears fairly technical, there's something that can be learned by any trader. Both automated system traders and manual traders must backtest their trading plan. One of the common problem consists of backtesting only for a restricted period of time and optimizing the system for that period.

The world of automated can be highly fascinating for traders with an interest for statistics and programming. For more on that topic, I recommend listening to DTTP 011: The Fascinating World of Automated Trading and checking what Shaun is doing at One Step Removed.