Update: My personal experience with this program and my full NeuroTrader review is provided at the end of this post. 

High Frequency Trading (HFT) isn't the only technology that has changed the world of trading. Wearable devices that collect biodata have become smaller and more powerful, which has created some exciting opportunities for independent traders.

The first benefit is the ability to monitor your biodata in real-time, to see if you are in the right state of mind to trade. Successful traders are acutely aware of their trading psychology. But even the best traders can occasionally ignore how they are feeling and continue trading in a sub-optimal mental state.

With quantitative biodata however, traders can measure how they are feeling in real-time. Based on this information, they can either choose not to trade, or they can get themselves into the right state of mind before placing trades.

Secondly, the combination of biodata and Artificial Intelligence (AI) now makes it easier for this hedge fund to hire independent traders from anywhere in the world. This was very difficult in the past because of the extremely high degree of trust that a fund had to have in remote traders.

But this AI can monitor the biodata of remote traders and decide if a trade should be executed, based on a few simple biological indicators. You can think of it as a virtual Risk Manager that can manage risk before trades are even placed.

To learn more about how this works, listen in as I talk to Ken and Chris and find out how they developed this idea, the technology behind their fund, the requirements for getting hired as a remote trader, and much more.

In this Episode with Chris Capre and Ken Medanic

• Why you need to be a consistently losing trader before you can become a consistently winning trader
• How to apply for their hedge fund
• What traders have to wear to monitor their biodata
• How it's possible for their hedge fund to hire traders who are breakeven or trading a demo account
• Learn more about Chris and Ken and their success in trading
• Why biodata tracking works
• And more!

Click Play to Listen to the Interview

Resources

• NeuroTrader Website
• Listen to my first interview with Chris Capre

Other Ways To Get The Trading Lifestyle Podcast

• Click here to subscribe via iTunes (if you like it, a five-star review is greatly appreciated)
• Click here to subscribe on YouTube
• Click here to subscribe on Google Play Music
• Click here to subscribe via RSS (non-iTunes feed)
• Right-click here and “Save As” to download the MP3
• Click here to hear all of the other podcast episodes

Thanks for Listening!

Thank you for joining us 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 episode, feel free to share it with them. To get more, be sure to subscribe to the show on iTunes or YouTube. If you enjoyed this interview and want to hear more, a 5-star review is greatly appreciated!

Update (July 10, 2019): NeuroTrader Review

As of this date, I have officially dropped out of the NeuroTrader Program.

Since I posted this interview, I feel that I have a responsibility to share my personal experience with the program.

Here's my complete review of the NeuroTrader program.

Timeline Summary

• I joined the program at its inception, in January 2019.
• I received my device in May 2019, three months after they were supposed to be delivered.
• I paid up front for the entire Developing Trader program and the one-on-one mentoring sessions with Ken.
• On June 7, 2019 Chris Capre sent in an official termination letter, ending the partnership between Ken and himself. You can read his reasons for leaving here. The short story is that Ken wasn't able to deliver on his promises.
• On July 10, 2019 I sent an email to Ken to end my participation in the program.
• As of my termination date, I was not able to pair my device to the NeuroTrader servers and zero of my biodata was collected.

Before you read on, keep in mind that I've worked at the trading desk of a hedge fund, I've worked at several San Francisco startups, I develop software and I used to work in IT for many years. This gives me a lot of insights into how things work in trading, startups and tech. 

Positives

There was one big positive thing that came out of this experience. As part of Ken's mentoring, he dug into my childhood to see if there was any trauma that could be affecting my trading.

I eventually found out that there was an event in my past that was the primary cause of my self-limiting beliefs, but it was not in my childhood. My own independent research led me to different ways of uncovering and resolving these other traumas, which resulted in the most profound experience of my life, so far.

Although he was totally off base about my childhood trauma, I do credit Ken for helping me to look at the causes of trauma.

In addition, I'm still very excited about how this technology could be applied to a hedge fund.

Now the downsides of my experience…

Downsides

Mentoring

As I mentioned above, Ken was way off on attributing my self-limiting beliefs to childhood. In all fairness however, I believe that you can solve trading issues in some people by only addressing childhood trauma.

But what really surprised me was that he didn't give me any methods to try to resolve any of my childhood trauma that came up.

I've since discovered many ways to discover and treat true trauma and a couple of them have worked extremely well for myself and others I've talked to. You can read about them here.

One thing that really annoyed me when it came to mentoring, was his general disregard for the value of my time.

We were set to have mentoring meetings on my Wednesday morning at 1:00am. But he would schedule meetings on Tuesday or Wednesday, without checking with me. He just scheduled meetings according to what suited his schedule.

Technology

I wasn't able to connect to the servers and have my biodata collected for analysis.

Since I used to work in IT, I can figure anything out on a PC, if you point me in the right direction. I followed all of the instructions, did some independent Googling and asked for troubleshooting help from Ken.

But I never received any emails with regard to steps that I could take to fix the problem.

The only emails I received from Ken were emails with my username and password…continually. As if that was the only solution to my problem.

I could login to the server, so my username and password were fine. I could not connect my device to collect data. It annoyed me that he never paid attention to this fact.

In my past life as an IT consultant I learned how to troubleshoot computers and related devices. I know what I'm doing.

From several interactions with him, it seemed like he didn't actually understand how the tech worked.

He did on a high level, of course, but not when it came to the smaller details. That's fine if you are the CEO, and acting as such, but super scary if you are a one man operation (see next section).

Support

The bottom line is that Ken was doing everything by himself.

At least as far as I could tell.

Every successful startup that I have worked at has outsourced the key lower level tasks quickly…especially customer support. That is the lifeblood of your business because if your customers don't know how to use your product, they won't give you any more money.

Same thing at hedge funds. The traders don't handle bookkeeping and inputting tickets. That's what the assistants are for. Would you invest your money with a fund that has only one head trader…and he is also the accountant, attorney, trading desk assistant and janitor?

Of course not.

But with Ken handling all of the tasks himself, support was sorely lacking. I believe that there should have at least been one customer service manager to help with payments and general questions, and one technical support manager to get people on-boarded with the devices and the platform.

I repeatedly emailed Ken for troubleshooting steps on how to get my device connected, but he would only talk to me at our scheduled mentoring times.

What would have happened if there were several multimillion dollar discrepancies during the course of normal trading in the NeuroTrader fund? I cringe at the prospect. When I worked at a hedge fund, I made a mistake when verifying a multimillion dollar trade once and went through a DK a couple of times. It's not fun and that shit needs to get resolved right away because once it's in the books, it's done.

I have zero confidence that NeuroTrader would have the bandwidth to handle these types of issues.

Another thing that bothered me was that I had asked multiple times to be billed for the entire NeuroTrader program on one invoice, but I was ignored. The reason I had asked for this is because my bank is especially risk sensitive when it comes to international payments, so you have to call them up to manually request clearance and the clearance only lasts 2 weeks.

So in order to streamline things, I felt that it would be easier for both sides to just get the payment taken care of in one shot. Then he wouldn't have to come chasing after me every time the automatic payment was declined. I was only able to get an invoice for the full amount on the fourth request…and I paid it at that time.

Seriously, if I can't trust them to handle a payment of a few hundred dollars, how can I trust them to handle payments of potentially tens or hundreds of thousands in the future? 

The NeuroTrader program, in its current form, would certainly benefit from dedicated support staff.

Education Program

I personally felt that the formal course material was mostly fluff. There were some good points, but the lessons were mostly aspirational. They told you the ideal living conditions that you should be in to trade well, and they almost made you feel bad if you weren't in that situation.

At least that is how I felt…and I've been involved with trading education for many years.

In reality, most people who are starting out in trading don't live in these conditions, but they are working hard to get there…through trading. They don't need to be reminded of what they don't have.

One thing that made me really uneasy was that Ken pushed too many of his religious beliefs in the program. Personally, I don't care what people believe in that realm, as long as they aren't hurting anyone. But just don't try to push your beliefs on me because what I believe is true to me. The same goes for your beliefs and I respect that fact.

I feel that it would have been much more effective if he used his mentoring material as the formal course. There were actually a couple of good nuggets in the mentoring program, if they were packaged differently.

When I signed up, it seemed natural that Chris would handle most of the education and Ken would handle most of the tech, but Ken ended up doing everything. That is unfortunate because Chris‘ courses are excellent, so I felt that the program would have benefited from much more of his input on the education side.

The Final Straw

I stuck with the program for longer that I should have because I was genuinely curious to see the biodata.

After all, I was already paid up.

But on my last call with Ken (which was supposed to be a mentoring call) we spent all of the time trying to get TeamViewer to work, so he could troubleshoot my issue.

Then in the middle of it all, he said that he had to go meet someone for coffee. I've been waiting months to get my device connected and I allocated time to fix this at 1:00 am in the morning and I get passed up for coffee?

You have to be shitting me.

I'm out!

The Bottom Line

This fund is not ready for investors. It still has way too many bugs to work out.

However, I'm still excited about this type of technology because I feel that it has a lot of potential. Ken isn't the person to make it happen, at least in my experience.

The post NeuroTrader: Using Biodata and AI to Boost Trader Performance with Chris Capre and Ken Medanic appeared first on Trading Heroes.

A lot of people will tell you that scalping Forex successfully is simply not possible.

Greg McLeod would beg to differ.

In this episode, I had the pleasure of sitting down with Greg to find out how he scalps successfully, who his biggest mentors were and get into some of the “behind the scenes” stuff that has shaped him into the trader that he is today.

Speaking of mentors, Greg has been taught by some of the best traders and trading coaches…ever.

He grew up in South Central Los Angeles and later also taught public school in the area. If you are not familiar with that part of the United States, it is one of the roughest areas in the country and teaching public school there is no easy task.

…and that is probably a big understatement.

But Greg found ways to get students interested in learning, through trading…which is really cool.

We have a very down-to-earth talk about some of his greatest achievements, what drives him as a trader and some of the most painful moments on his trading journey.

I hope that you enjoy listening to this episode as much as I enjoyed doing it!

In This Episode

• His huge early win in Yahoo
• The personality trait that makes him good at scalping Forex
• The stocks that his public school students bought (and made money on)
• Why he's always looking for “the party”
• The lowest moment in his trading career
• How talking to dudes in the bathroom might be good for your trading career
• Why the idea of bulls and bears is a misconception
• And more!

Click Play To Listen To The Interview

[powerpress]

Trading Examples

If you want to watch Greg trade live, here are a couple examples. They will give you an idea of how he trades and his results.

Session 1

Session 2

Resources Mentioned

• The Bible
• The Market Wizards Books
• Ari Kev – Trading to Win
• Thomas Bukowski – Encyclopedia of Chart Patterns
• Alexander Elder – Trading For a Living
• Boris Scholssberg 
• Gerald Appel – MACD Inventor
• John Bollinger
• Larry Pesavento
• Rob Booker
• Mark Douglas 
• Watch Greg's other interview with Shaun Overton
• Contact Greg: greg@elitetradersu.com

Other Ways To Get The Trading Lifestyle Podcast

• Click here to subscribe via iTunes (if you like it, a five-star review is greatly appreciated)
• Click here to subscribe via RSS (non-iTunes feed)
• Right-click here and “Save As” to download the MP3
• Click here to hear all of the other podcast episodes

Thanks for Listening!

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!

The post Greg McLeod: Forex Scalping For a Living // EP26 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!

In This Episode

• The biggest problem with the Forex market
• Why Forex is the best market to trade
• How to raise money with your trading skill
• Why the size of your account does not matter
• Joel's outlook on life and how that determines his trading style
• Why ADHD can be a benefit to traders
• And more!

Click Play to Listen to the Interview

Resources Mentioned

• Paul Tudor Jones
• Market Wizards
• Reminiscences of a Stock Operator
• Ugly Americans
• Narcos – One of Joel's favorite TV shows, at the moment.

Other Ways To Get The Trading Lifestyle Podcast

• Click here to subscribe via iTunes (if you like it, a five-star review is greatly appreciated)
• Click here to subscribe via RSS (non-iTunes feed)
• Right-click here and “Save As” to download the MP3
• Click here to hear all of the other podcast episodes

Thanks for Listening!

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:

• Learn a system
• Backtest a system
• Fail at trading it in the live market
• Look for a new system

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!

In This Episode

• Why Jarratt sold his previous business
• Learn how FOMO affects his trading
• Other ways he tried to make money online
• How a banner ad on a website changed his life
• Why talking to random people on the internet can be the best thing for your trading
• The trading scam that Jarratt lost money in, that convinced him to learn to trade for himself
• Why he primarily believes in fundamental analysis
• And more!

Click Play to Listen to the Interview

Resources Mentioned

• JarrattDavis.com
• Trading in the Zone – Mark Douglas
• High Performance Trading – Steve Ward
• Way of the Turtle – Curtis Faith

Other Ways To Get The Trading Lifestyle Podcast

• Click here to subscribe via iTunes (if you like it, a five-star review is greatly appreciated)
• Click here to subscribe via RSS (non-iTunes feed)
• Right-click here and “Save As” to download the MP3
• Click here to hear all of the other podcast episodes

Thanks for Listening!

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!

In This Episode

• What attracted Andrew to FX trading so much in the first place
• How long it took him to learn to trade profitably
• Why he trades long term charts
• How many basic trading setups he uses
• Custom Forex trader software that Andrew uses for MT4
• And more!

Click Play to Listen to the Interview

Resources Mentioned

• Elliot Wave Theory
• Robert Kiyosaki
• Andrew's Podcast
• The Forex Trading Coach

Other Ways To Get The Trading Lifestyle Podcast

• Click here to subscribe via iTunes (if you like it, a five-star review is greatly appreciated)
• Click here to subscribe via RSS (non-iTunes feed)
• Right-click here and “Save As” to download the MP3
• Click here to hear all of the other podcast episodes

Thanks for Listening!

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.

In This Episode

• Why discretionary trading was the way to go for him
• How long it took him to learn to trade profitably
• Why trading was a nightmare, when he first started
• How his IT skills actually prevented him from becoming a full-time trader
• His greatest strengths and weaknesses as a trader
• How being an expat burned his bridges and set him up for success
• Learn his trading strategy
• And more!

Click Play to Listen to the Interview

Resources Mentioned

• Jigsaw Trading – Peter's primary website
• Jim Dalton
• Richard Joyson
• Joel Parker
• JPJ Trading
• Kam Dhadwar
• John Grady
• Futures Trader 71
• Gary Nordon
• Golf is Not a Game of Perfect
• No BS Day Trading

Other Ways To Get The Trading Lifestyle Podcast

• Click here to subscribe via iTunes (if you like it, a five-star review is greatly appreciated)
• Click here to subscribe via RSS (non-iTunes feed)
• Right-click here and “Save As” to download the MP3
• Click here to hear the other podcast episodes

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.

In This Episode

• [tweet_dis]How to tell a good system from a bad one[/tweet_dis]
• The one thing he has to do every day to make sure his system is working
• How he recommends getting started with automated trading (even if you hate programming)
• What he plans to do in “retirement”
• His mission in life after learning to trade
• And more!

Click Play To Listen To The Interview

Resources Mentioned

• Jack Schwager's Books
• Quantitative Trading: How to Build Your Own Algorithmic Trading Business by Ernie Chan
• YoPro Wealth
• Austin Netzley

Other Ways To Get The Trading Lifestyle Podcast

• Click here to subscribe via iTunes (if you like it, a five-star review is greatly appreciated)
• Click here to subscribe via RSS (non-iTunes feed)
• Right-click here and “Save As” to download the MP3
• Click here to hear the other podcast episodes

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.

In This Episode

• Find out how much he started his fund with
• Why the system doesn't really matter
• How he drives his family crazy at Thanksgiving
• The biggest reasons why traders fail
• How to maintain your health
• What you need to start a fund
• And more!

Click Play To Listen To The Interview

Resources Mentioned

• Melissinos Trading
• Get a free copy of Mike's 8 Misktakes That Distroy Investor Returns
• Oyster App
• The Trading Tribe
• Ed Sykota
• Dr. David Druz
• Michael Covel

Thanks for Listening!

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!

Other Ways To Get The Trading Lifestyle Podcast

• Click here to subscribe via iTunes (if you like it, a five-star review is greatly appreciated)
• Click here to subscribe via RSS (non-iTunes feed)
• Right-click here and “Save As” to download the MP3
• Click here to hear the other podcast episodes

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

Hello and welcome to another episode of The Trading Lifestyle Podcast. I hope you are enjoying your holiday season and are celebrating your successes from this past year.

In this episode, I had the pleasure of  sitting down and talking with Reynaldo Soriano a professional trader and educator in the San Francisco Bay Area. I found him through his Meetup group and I wanted to find out how he became a professional trader.

He was a member of the Australian national Taekwondo team and when you look at his website, sports still play a big role in his trading and teaching. I like how he compares trading to sports, in that both take a lot of work and there is no guarantee of success.

Our conversation covered a lot of really interesting topics like his daily trading routine, his most important value and the one thing that will always overule his mechanical trading setups.

I appreciate how open and honest he is in this interview. He even shared that at his low point, he would go to his parents house to visit a lot. They thought he was there to seem them, but he was really there to get some free food because he had lost most of his money trading.

But like all successful traders I have talked to, he figured out a way to not only improve his trading, but also his wealth awareness, to become consistently profitable.  One thing that I did find surprising was how much he risks on high probability trades. He knows his trades setups so well that he knows which trades have a near 100% probability of working.

I hope you learn a lot from this interviews and enjoy listening to it as much as I enjoyed doing it. I did have a slight cold, so I apologize for any sniffles in the recording.

If you have any questions or comments, please feel free to leave them in the comments section at the end…

In This Episode

• Find out what Reynaldo studied in school
• Why he holds trading contests
• Why Forex is the best market to learn trading
• The role that intuition plays in his trading
• Why he stopped day trading
• And more!

Click Play To Listen To The Interview

Resources Mentioned

• Enlightened Super Trader Education
• Enlightened Super Trader Meetup (SF Bay Area)
• Forex4Noobs
• Brain Games (National Geographic)
• Anthony Robbins
• Millionaire Mind Intensive
• Follow Reynaldo on Twitter

Other Ways To Get The Trading Lifestyle Podcast

• Click here to subscribe via iTunes (if you like it, a five-star review is greatly appreciated)
• Click here to subscribe via RSS (non-iTunes feed)
• Right-click here and “Save As” to download the MP3
• Click here to hear the other podcast episodes
• Available on Roku – Channel TFEX6

The post EP18 // How Reynaldo Soriano Makes A Living Trading 1 Hour A Day appeared first on Trading Heroes.

I interviewed Shaun Overton in Episode 16 of The Trading Lifestyle Podcast and he gave us some great tips about how to create automated trading systems. Shaun also has a YouTube channel where he interviews different trading personalities.

The interviews that I like the most are the ones with people who aren't “big name” traders. People who are killing it in trading, but don't have a late night infomercial.

One interview that caught my eye was with Greg McLeod. 

He used to be a public school teacher in South Central Los Angeles, one of the roughest areas in Southern California.

This fantastic interview goes through the story of how trading has affected his life and gives us a peek into how public school education can be made more relevant and interesting.

I found this interview particularly refreshing because Greg gives honest answers about what it means to be a professional trader and the process he went through to get where he is now.

In This Interview

• How a weather station became a covert trading room
• Why he decided that it is better to help people from outside the classroom
• How he teaches by example
• Why he is sending his kids to Chinese language lessons
• How he has turned some traders around in as little as 30 minutes
• Why you shouldn't trade on Mondays
• Courses he has bought
• And more!

To get more notes on this interview, they are provided after the video.

This interview is almost an hour long, so I obviously didn't provide notes on the entire interview.

But if you want to decide if you want to invest an hour into this video, the notes can help you make that decision.

How He Got Started In Trading

He was watching TV one night and saw a commercial for commodity trading.

The brokers on the program were telling viewers how they could use leverage to purchase large quantities of things that we use everyday.

So he promptly opened an account and bought some November Soybean options and the worst possible thing happened to him.

He ended up tripling his account.

This was a bad thing because he did not know anything about trading, but it made him feel invincible. He didn't even look at a chart when he placed the trade and trades still had to be done over the phone.

After some lessons from the school of hard knocks, he switched from options to Forex and figured out how to trade consistently.

Shaun has personally seen him double accounts when they both worked at FXCM.

How He Taught South Central Los Angeles Kids Trading

Greg found that most of his students didn't want to learn the traditional subjects like history and math because they didn't see much practical use for it.

But when he showed them what he was doing in trading and that they could make money without resorting to stealing or selling drugs, a lot of them got very interested.

So he made a deal with them.

He would teach them to trade, if they agreed to pay attention in the traditional subjects.

What he discovered was that they were actually excited to learn things about history, math and economics when they could apply it to trading, an endeavor where they could see the direct correlation between knowledge and potential income.

They traded paper accounts and his students bought stocks like Clorox. His students were engaged, where not ditching class and not calling him names.

As you might imagine, the school soon shut the program down because the bureaucracy kicked in and didn't see the value in teaching trading.

That is when he decided that it was time to leave teaching.

Teaching His Own Kids To Trade

When Greg's kids were 6, he started teaching them about trading. In order to make it understandable to young children, he simply taught them about bulls and bears.

Bulls push things up with their horns and bears pull things down with their claws.

This is great advice for people who want to expose their kids to trading, but don't want to make it too technical.

In the interview, he tells a funny story about how his daughter helped him realize that he was on the wrong side of the trade. He switched his position and ended up making money.

Live Trading Results

If you want to watch Greg trade live, here are a couple of examples of his trading sessions. They are quite impressive.

He calls the trades in real time.

Session 1

Session 2

Conclusion

So if you want to check out Shaun's other interviews, you can subscribe to his YouTube channel.  I would recommend that you follow him because he has some very educational and fun interviews with people like Jim Rogers.

If you want to find out more about Greg, you can visit his website at Forex Pay Days. Let him know that you heard about him through Trading Heroes. 

He has some great information on his blog. Here is a screenshot of some of the trades that he shows on his website. I haven't taken any of his training, but I look forward to finding out more about him and possibly getting him on the Podcast in the near future.

I hope you enjoyed this video interview and I will post more when I find them.

To get a case study of Greg's success, go here.

UPDATE: I was able to interview Greg on the podcast. That conversation is available here.

The post Greg McLeod: How A South Central Public School Teacher Became A Successful Forex Trader appeared first on Trading Heroes.

These are the types of interviews that I really enjoy.  I love talking to anyone about trading, but I especially like hearing from people who are just doing their own thing.  In the case of today's guest, he trades for a living from his home in Italy.

He doesn't have a website and doesn't market a course.  The only reason that I found him was because he does have a great Twitter account.  I have been watching is posts on Twitter and he is very consistent.

Walter Vannelli has been involved in Forex for most of his life.  What makes his experience especially interesting is that he started off as a dealer.  No check that, he actually started off in the back office of a bank.

But a staff shortage and a fortunate turn of evens forced him onto the dealing desk.  Once he was exposed to trading, he was hooked.  This passion for trading has stayed with him over the years and it really shines through in the way he speaks about trading.

Since he was a dealer, he understands what goes on the the trading rooms of banks.  He has been at a couple of big banks, including Citi.  He gives us some insights into how banks operate and how he trades as an independent trader who no longer has access to dealing desk information.

When Walter first started in Forex, only very rich individuals could trade Forex.  So as retail Forex trading became more popular, he was also able to train traders and consult with other banks on how to set up their accounting and back offices.  This allowed him to transition from a day job to trading full-time on his own.

One of the things that I enjoy the most in life is speaking with people who are making a living doing exactly what they love to do.  Walter is certainly one of those people.  I found that he is also a positive, humble, and funny guy.

I hope you enjoy this episode and learn a lot from it.

In This Episode

• Walter's unique meditation style
• What he has in common with college kids
• Why banks win against retail traders and how you can still find success
• The amount of money you needed to trade Forex back in the 1980's
• How he went from the back office to the dealing room
• His daily routine
• And more!

Click Play To Listen To The Interview

Resources Mentioned

• Follow Walter on Twitter
• Walter doesn't read trading books
• Lucius Annaeus Seneca
• Marco Aurelio (Marcus Aurelius)
• Michael Crichton
• Patricia Cornwell

Other Ways To Get The Trading Lifestyle Podcast

• Click here to subscribe via iTunes (if you like it, a five-star review on iTunes is greatly appreciated!)
• Click here to subscribe via RSS (non-iTunes feed)
• Click here to hear the other podcast episodes
• Also available on Roku – Channel TFEX6
• Right-click here and “Save As” to download the MP3

Disclosure: I do get a commission if you buy through some of the links on this page. But it does NOT cost you anything extra, it helps pay for my hosting costs and a portion of the proceeds go to my charity partner.

The post EP17 // Bank Dealer Turned Independent Trader Walter Vannelli Shares His Experience appeared first on Trading Heroes.

In this episode of the Trading Lifestyle Podcast, I was fortunate to be able to sit down with Kim Krompass and learn about her journey to becoming a professional independent trader. I met Kim through the Meetup group that I started here in the San Francisco Bay Area.

The one time that we talked in person at a meetup was very brief, so I was happy when she agreed to be interviewed for this podcast.

She has taken an interesting route to becoming a trader. Just like many people who come to trading, she was very successful in another area before she began to learn to trade.

Unlike other traders however, she was profitable from the very beginning. She will go into what strategy she was using in the interview.  But needless to say, it stopped working during the 2008 crash and she had to do a lot of soul searching to figure out if she really wanted to continue to be a trader or not.

Since her bread-and-butter strategy was not working anymore, she had to figure out a better way to trade and she found some mentors and coaches to help her get back on track. What resulted was a strategy where she doesn't use any indicators an takes very small losses, as little as 8 pips for certain pairs.

We also got to talking about what she does for fun outside of trading, why she doesn't usually hang out with other traders and what fine wine has to do with anything. This is a very informative and no-nonsense interview that covers a wide variety of topics, so I hope you enjoy it!

In This Episode

• Why she was a profitable trader from the beginning
• What is Kim's strongest trading trait
• Her strong opinion on demo trading and backtesting
• Find out her daily routine
• How she made a fortune and lost a lot of it
• Learn about two of her most successful students
• Why the spread on the Mexican Peso might not be as scary as you think

Click Play To Listen To The Interview

Resources Mentioned

• Price Action Traders Institute
• John Person – National Futures
• Paul Tudor Jones – Famous trader
• Turtle Traders – A famous trend following trading experiment
• Michael Covel – Trend following researcher, author and speaker.  Great podcast too.
• The Carry Trade explained
• Jing – Screenshot software
• Twitter – What Kim uses to broadcast her trading and socialize with other traders
• Bitly – Shorten links to share online
• Notebook – For recording trade entries

Other Ways To Get The Trading Lifestyle Podcast

• Click here to subscribe via iTunes (if you like it, a five-star review on iTunes is greatly appreciated!)
• Click here to subscribe via RSS (non-iTunes feed)
• Click here to hear the other podcast episodes

What did you think of this episode?  Let us know in the comments below…

The post Kim Krompass: Trading For A Living Risking Only 8 To 12 Pips Per Trade // EP15 appeared first on Trading Heroes.