106: What Makes A Great Discretionary Forex Trader (@wmd4x)
What Makes A Great Discretionary Forex Trader – Show Notes
Recorded on July 24th, 2017
In episode 106 of the Desire To Trade Podcast, I interview the great discretionary Forex trader Will Hunting who, like many traders, describes the early years as a series of ‘humbling’ experiences.
Will Hunting started a journal recording simple techniques and market observations . Those allowed him to trade successfully and turn a hobby into a career. Overall, Will has become a great discretionary Forex trader.
Some of that journey was documented in public forums dedicated to trader education. He has helped hundreds of traders new and veteran alike to build solid foundations in technical analysis, price behavior, market psychology & critically the ability to make sensible decisions.
Having delivered double digit returns for many years he has been featured in trade publications and is one of the UK’s most well-known independent retail Forex traders.
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Key Takeaways From This Episode
1. Learning From Every Trader You Meet
One major thing I got from this interview is the idea that we, as Forex traders, take lessons from all the other traders we meet. The trading strategy I currently trade, although it is unique to me, is based on different little things I learned from different people.
2. A Twist On The Risk-To-Reward
Another major discussion concerned reward-to-risk. Although a lot of traders see a loss in trading as the “cost of doing business”, Will reminds that we can add criteria to avoid taking as many loss. That will make the drawdowns much smaller.
3. Following The Way That Makes Sense To YOU
As discussed throughout this interview, Will Hunting has a discretionary trading style that differs from most traders previously interviewed.
That, however, makes sense to him and that is a very important part of the equation of success in trading. A trader that doesn't use something that makes sense to him will never trade at its optimal performance.
DesireToTRADE Top Resources
- DesireToTRADE Forex Trader Community (free group!)
- Complete Price Action Strategy Checklist (free checklist!)
- One-Page Trading Plan (free template!)
- DesireToTRADE Academy
How To Find Will Hunting?
What is one thing you are going to implement after listening to this podcast episode? Leave a comment below, or join me in the Facebook group!