117: Forex Reversal Trader Habits, Mindset And Strategies (@ForexStopHunter)
Forex Reversal Trader Habits, Mindset & Strategies – Show Notes
In episode 117 of the Desire To Trade Podcast, I interview Dale Pinkert, a Forex trader & host/mediator at Forex Analytix Community Experience (F.A.C.E.). He came on the podcast to share his story as a Forex reversal trader.
We jump into habits, mindset, and strategies that are essential to succeed in the Forex market.
Topics Covered In This Episode
- The power of “social trading” and how you can use it to trade better [5:45]
- A powerful way to trade (knowing how to take the losses) [8:10]
- A piece of advice on not following too many instruments [11:20]
- How Dale Pinkert started to trade [11:40]
- How Dale learned trading [13:40]
- Wisdom on partial profits & stop losses [16:45]
- How Dale uses the RSI to trade [19:45]
- How to incorporate multiple time frames into your trading [22:45]
- How Dale develop his trading strategy (who taught him) [23:50]
- Some trading strategy ideas [26:00]
- How Dale plans his trades on the weekend [30:00]
- Morning routine (including waking up at 3:30am) [31:05]
- One thing Dale Pinkert still struggles with & how he solves it [32:30]
- How Dale confirmed his edge in the market (without backtesting) [37:00]
- Can you trade for a living with $10k? [40:20]
- What Dale thinks of “educators that don’t trade” [41:40]
- The #1 tactic to remain consistent over a long period of time [45:00]
More About Dale Pinkert
Dale began his career in operations on the CME floor for Dean Witter when they traded currency futures on chalkboards. He became a licensed Series 3 broker in 1976 and went on to own and operate Pinkert Commodities GIB. He became a Member of the CME (IOM) Division for a stint and his forecasts have been aired on many Financial media including CNBC.
Dale has Coached/Mentored retail and prop traders and has gained a solid reputation for his work on the other side of the mic having interviewed over 700 of the best of the best in Trading.
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 Dale Pinkert?
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!