The Trading Lifestyle Podcast: Trading Heroes Forex Trading Blog | Pro Trader Interviews

There's a big difference between software that's created by someone who trades and someone who doesn't. This is one example.

I met Denis at The Truth About FX conference in 2017. At the time, he was trading full-time and providing trading signals.

I talked to him a bit on the train ride back from central London.

In talking to him, I found out that he is Beta Trader. It's always cool to meet people behind trading sites. I didn't keep in touch with him after that.

Then a few months ago, I got a message from him via Walter's forum, asking me if I wanted to test his new software called NakedMarkets.

I'm always open to testing software from people I know, so I volunteered to be a tester. We are both students of Walter.

As soon as I read through the documentation, I knew that he had something special.

There are features that I haven't seen in backtesting software under $500, and some features that I haven't seen anywhere.

What I like most about his software is that it is very modular.

So you can create small components, like entry and exit rules. Then you can simply drag and drop those rules on your chart to speed up manual backtesting.

Or you can use those components to build fully automated or semi-automated trading strategies.

One thing that I've been looking for is an easy way to automatically download trades from Oanda and analyze the performance of the account. I thought that a trading journal was the solution.

But I asked Denis if it was possible to do it in NakedMarkets and he implemented it in just a few days.

Amazing!

So NakedMarkets can also be used to analyze live trading performance.

Anyway, there's nothing like seeing the software in action. So watch the video find out more about Denis and how the software works.

You can get a special Trading Heroes discount on NakedMarkets on this page.

I really appreciate you joining me for this episode of the podcast!

If you know of a trader who would benefit from any of the information in this post, feel free to share it with them.

Be sure to subscribe to the show on iTunes or YouTube and if you love it, a 5-star review is greatly appreciated!

The post Taking Backtesting Software to the Next Level: NakedMarkets // EP30 appeared first on Trading Heroes.

Running a Forex brokerage is a really tough business.

Oh the stories I've heard….

So why would anyone want to start one?

In this episode, I sat down with Arif Ahmad, co-founder of Scandinavian Capital Markets (SCM), a ECN broker in Stockholm Sweden. As it turns out, Arif had good reasons to get into the brokerage business.

As money managers, they were tired of getting pushed around by shady FX brokers. They figured that they only way to get good service was to provide it themselves.

That is how SCM was born. 

They are based in Stockholm, Sweden and as it turns out, there are several advantages to having a brokerage there. With many countries reducing Forex trading leverage to 30:1 or lower, it is becoming harder to find brokers that will support more highly leveraged trading.

Obviously, leverage is a double-edged sword and not for the beginner. But I personally believe that traders should still have the option to be able to access higher leverage.

Having a broker in Sweden gives traders the advantage of still being able to access 100:1 leverage, in a country with a stable banking environment and a reasonable amount of regulation.

The alternative is usually to go to places that are havens for dodgy offshore brokers like Cyprus or Malta, which are like the Wild West, when it comes to regulation.

As I've mentioned before, the best broker for you will depend on where you live, how you trade and what you value in a broker. So always do your own due diligence when choosing a broker.

Even if you aren't looking for a new broker, this interview is an inspiring look at the entrepreneurial journey of two guys who saw an opportunity to create a better product and are working hard to make that happen.

I hope you enjoy listening to this interview as much as I enjoyed doing it.

Note: Since they are based outside of the US, they cannot accept US clients…per US laws.

I really appreciate you joining me for this episode of the podcast. If you have any feedback on this episode, please be sure to leave a comment below.

If you know of a trader who would benefit from any of the information in this post, feel free to share it with them. Be sure to subscribe to the show on iTunes and if you love it, a 5-star review is greatly appreciated!

I also want to thank Arif and Michael for flying me out to Stockholm, putting me up at a great hotel and showing me the beautiful city of Stockholm. If you have never been to this beautiful city, I would recommend you put it on your Heroic List.

The post Behind the Scenes Look at Starting an ECN Forex Broker in Sweden with Arif Alexander Ahmad // EP29 appeared first on Trading Heroes.

Social trading is a bit like communism.

– Juan Colón

I'm really excited to present this episode of the podcast because I believe that this Forex broker has the potential to change how talented independent Forex traders get funded and can go on to trade for a living.

Yes, I said broker. 

Juan Colón is one of the co-founders of Darwinex, a Forex broker, slash investment platform. He is not a trader, but after you are done with this interview, I think you will agree that he and his co-founders are doing a lot for all the independent traders out there.

Traders on the Darwinex platform can setup an account and build a track record and investors can place their money with traders that fit their risk tolerance.

Yes, this sounds a lot like the copy trading sites out there, but it isn't. Trust me, it goes way beyond copy trading…

For one, Darwinex does a lot to protect the trader's intellectual property (his/her trading).

But that's just the start.

I think that they are doing a great job of opening investment funding to independent traders and if you have been wondering how you can get funded, this might be a good alternative for you.

I really appreciate you joining me for this episode of the podcast. If you have any feedback on this episode, please be sure to leave a comment below.

If you know of a trader who would benefit from any of the information in this post, feel free to use the social media share buttons on this post.

Be sure to subscribe to the show on iTunes and if you love it, a 5-star review is greatly appreciated!

Also be sure to check out the resources page for tips on the best education, FX trading software and more.

The post EP25 // The Forex Broker That Trades WITH Customers with Juan Colón appeared first on Trading Heroes.

Joel Kruger started his professional career on a path that you might be able to relate to.

He initially went to law school and later became an investment banker.

That may not be a common career path, but many people who get into trading come from some sort of high-level profession. So if this describes you, and you don't want to be in that profession anymore, this interview might give you an alternative.

When Joel saw a trading floor for the first time, he was hooked. His career in trading started as a currency analyst and he was eventually able to make the jump to full-time trading.

But it wasn't easy. He admits that even though he knew how to analyze markets, trading them is a totally different story.

There were several times when he wanted to quit. Find out why he stuck with it, what he has learned, the most important trait that he sees in successful traders and much more.

So if you are an investment banker, it's not too late. If you want an alternative to the crazy hours, Joel's story might be an option that interests you.

Enjoy!

I really appreciate you joining me for this episode of the podcast. If you have any feedback on this episode, please be sure to leave a comment below.

If you know of a trader who would benefit from any of the information in this post, feel free to use the social media share buttons on this post. Be sure to subscribe to the show on iTunes and if you love it, a 5-star review is greatly appreciated!

Also be sure to check out the resources page for tips on the best education, FX trading software and more.

Disclosure:  Please note that some of the links below are affiliate links, and at no additional cost to you, I will earn a commission if you decide to make a purchase. I have experience with all of these people/products, and I only recommend them because they are helpful and useful, not because of the small commission I make if you decide to buy something.

The post EP24 // Joel Kruger: Investment Banker Turned Pro Forex Trader appeared first on Trading Heroes.

Jarratt Davis started out just like you.

But he went on become the #2 ranked Forex trader in the world…according to Barclays. 

He learned currency trading on his own and he had no previous experience or education. Like my last guest, his previous profession had absolutely nothing to do with trading.

But his journey wasn't always easy…

He actually “quit” trading several times because he could not find anything that worked. His trading went through the classic vicious cycle of:

Sound familiar? 

Finally, a chance meeting with a successful stock trader put him on the right track and he never thought about quitting again. In fact, he has several stories of how he met the right person, at exactly the right time.

So it really does benefit you to just start talking to people you meet in your everyday life, because you never know how it might help your trading career.

One piece of information that I found particularly useful is Jarratt's thought process when he is looking to take a trade. It might be very different from what you do, so I would recommend reviewing what he does before he takes a trade.

I hope you find this episode as educational and enjoyable as I did. After the interview, I got to talking to Jarratt for a bit and he seems like a really down-to-earth and mellow guy.

He has traded from all over the world and I hope you are inspired by his story. 

So if technical analysis seems to be letting you down, you might want to take a closer look at what Jarratt is doing.

Enjoy!

I really appreciate you joining me for this episode of the podcast. If you have any feedback on this episode, please be sure to leave a comment below.

If you know of a trader who would benefit from any of the information in this post, feel free to use the social media share buttons on this post. Be sure to subscribe to the show on iTunes and if you love it, a 5-star review is greatly appreciated!

Also be sure to check out the resources page for tips on the best education, FX trading software and more.

The post How Jarratt Davis Went From Successful Trader to Business Buyer // Ep. 23 appeared first on Trading Heroes.

You will never guess what Andrew Mitchem was doing before he became a successful Forex trader. I have heard about a lot of unusual pre-trading professions before, but Andrew's is the best, by far. 

One of the biggest things that I hope you have learn from all of these interviews is that you don't need to have any experience in the financial markets to become a professional Forex trader. In Andrew's case, you don't have to read that many trading books either.

Take a guess as to how many trading books he has read. 

Talking to traders is always really interesting. After the formal interview, Andrew and I were chatting for a bit and he told me that he and his family were in San Francisco recently.

OK, pretty cool…SF is one of the best places to be. Of course, I'm a little biased. But a regular vacation isn't enough for the average trader. 

You see, Andrew has a license…to fly a helicopter. He actually has a helicopter at home in New Zealand.

So he rented a helicopter in SF and flew under the Golden Gate Bridge! How awesome is that?!

Most people settle for a picture in front of the bridge. Ha!

I hope that he doesn't mind me sharing that story, but it really goes to show you what is possible when you put in a lot of hard work.

Enjoy!

I really appreciate you joining me for this episode of the podcast. If you have any feedback on this episode, please be sure to leave a comment below.

If you know of a trader who would benefit from any of the information in this post, feel free to use the social media share buttons on this post. Be sure to subscribe to the show on iTunes and if you love it, a 5-star review is greatly appreciated!

A huge thanks to Andrew for taking the time out to speak with me!

Also be sure to check out the resources page for tips on the best education, FX trading software and more.

The post EP22 // Andrew Mitchem’s Odd Journey to Becoming a Successful Forex Trader appeared first on Trading Heroes.

Peter Davies' backstory is all too common, unfortunately. At 35 years old, he lost about 30% of his net worth in the stock market.

He was working in IT at the time and knew nothing about trading or finance. His college degree was actually in IT.

To add insult to injury, his financial advisor told him that they did well that year because they beat the index. The “financial advisor” even had the balls to charged him a management fee.

That is where the story ends for most people.

But not Peter, he decided that he needed to learn out how to invest for himself. He figured that if he was going to lose all his money, it would rather be completely responsible for it.

So began his investing career.

Well, invest is the wrong term. He actually day trades the S&P eMini futures.

It can be a bit of a crazy market, but out of all the trading stories I have heard, traders in this market can be some of the most consistent, on a day-to-day basis.

The post EP21 // Peter Davies (Jigsaw Trading) on Outperforming His “Financial Advisor” appeared first on Trading Heroes.

Many people dream of quitting their jobs and trading for a living, but few are actually able to do it. Austin Netzley is one of those people and he was able to do it in a fairly short period of time. Even more impressive is how young he was when he accomplished this feat.

Although Austin does not trade Forex, I had to learn more about his amazing story. So I was happy when he agreed to sit down and talk to me about his experiences.

While he was working at his corporate job, he would trade stocks. Luckily he had a job that allowed him the flexibility to do so. But things weren't working out so well and he kept losing money.

So he finally decided that he needed to either stop trading or really figure it out. This interview will get into what he had to do to get over the hump.

It wasn't easy, but what he produced was a simple and elegant solution to the 9 to 5 grind. You might be surprised at how simple his method is.

But what is equally interesting is what he has decided after his trading success. You will be inspired by this interview because I sure was.

The best part is that Austin shares how you can get started down a similar path.

The post EP20 // How Austin Netzley “Retired” At 27 With One Trading System appeared first on Trading Heroes.

Mike Melissinos landed a job at Bear Sterns shortly after graduating from college and he thought he had it made.

But as luck would have it, Bear went down about six months after he joined.

This turned out to be good luck however because it really made him examine the people who he looked up to and the life that he really wanted to live.

He came out of the experience with a whole different perspective.

After Bear, he decided to figure out how to invest for himself and got turned on to trend following. If you are not familiar with this style of trading, there are some links in the resources section below.

The one thing that stood out to me in this interview was when Mike mentioned how trend following felt more intuitive to him.

It was something that he felt he could embrace and run with.

I think that this is a really important point because many times traders try to trade methods that are not in tune with their personality.

That is what leads to blowups or erratic performance.

We talked about the inherit strengths and weaknesses of trend following and how he sought out the knowledge he needed to become a better trader.

One thing that helped Mike a lot was the New York Trading Tribe.

If you have never heard of The Trading Tribe before, it is a series of groups started by legendary trader Ed Seykota.

It is sort of a support group, but it is actually more like a development process for traders and is based on Ed's work in trading psychology.

Mike talks about it in more detail in the interview, so check it out.

We also get into a ton of other topics in this interview. Mike talks sports, his fanatical obsession with health and how his fiancée has made him a better trader.

He also gets into the details of how he started his fund and how he treats his investors a little differently than most fund managers.

This interview is over an hour long, so I'm really grateful to Mike for taking the time out to talk to me. It was a fun interview for me and I hope you enjoy it too.

I really appreciate you joining me for this episode of the podcast!

If you know of a trader who would benefit from any of the information in this post, feel free to share it with them.

Be sure to subscribe to the show on iTunes or YouTube and if you love it, a 5-star review is greatly appreciated!

The post Mike Melissinos on Trend Following, Trading a Fund and the Trading Tribe // EP19 appeared first on Trading Heroes.