Walter Peters on Naked Forex & Swing Trading – Show Notes
In episode 125 of the Desire To Trade Podcast, I interview a guest I had been waiting a long time to talk to…
Walter Peters is a full-time Forex trader, author, podcast host, and more. He has inspired & helped me through his book Naked Forex: High Probability Techniques For Trading Without Indicators (Amazon link), which I read some time ago.
What's great about Walter is that he isn't the type of trader who wants to trade all day. He developed a high time-frame style of trading that gives him more freedom. He can then go to surf and enjoy life!
Over the past few years, Walter's focus has shifted from trading systems (liked the ones shared in his book) to trading psychology & money management, which we touch on during the interview.
Topics Covered In This Episode
- How Walter started to trade after getting his dream job 3:38
- What Walter had to do to become a profitable trader 7:57
- Walter Peters’ advice on those wanting to leave their jobs 11:40
- How to use scalping to your advantage (hint: don’t trade all day) 14:07
- How Walter Peters changed his trading style after writing Naked Forex 15:34
- What made Walter Peters shift from a focus on systems to psychology 16:15
- How to turn your trading into a game (POWERFUL!) 19:12
- The biggest mistakes aspiring Naked Forex traders make 21:50
- How to see what the majority of traders are doing in the market 24:10
- How to deal with swing trading drawdowns (more markets vs. more strategies) 28:10
- Walter Peters to trading Forex while traveling 31:26
- How often Walter checks his charts & why 34:15
- A lesson Walter Peters wanted to pass on to you 38:30
Resources Mentioned In The Interview
- Book: Naked Forex: High Probability Techniques For Trading Without Indicators (by Walter Peters)
- Book: The Encyclopedia of Chart Patterns by Thomas Bullkowski (recommended by Walter)
- Backtesting: Forex Tester (read my review)
IG's open positions (on each of the currency pair pages, here is the GBP/AUD)
- Historical Price Data vs. Open Positions at OANDA
- See where the orders (entry orders and stops) are placed
DesireToTRADE Top Resources
- Desire To TRADE Forex Trader Community (free group!)
- Complete Price Action Strategy Checklist (free checklist!)
- One-Page Trading Plan (free template!)
- DesireToTRADE Academy
How To Find Walter Peters?
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!