134: Interview With A Currency Trader Living In Paradise (@JAGfx33)
Currency Trader Interview (Living In Paradise)
In episode 134 of the Desire To Trade Podcast, I am sitting down for an in-person currency trader interview with daily chart trader Jim Brown.
Living in Da Nang, Vietnam for over 2 years now, Jim has developed a methodology using technical indicators to trade roughly 60 currency pairs on a fairly high timeframe – the daily chart.
This trading methodology allows him to reduce his screen time to less than an hour a day, and thus enjoy the beautiful beaches Vietnam has to offer.
This currency trader interview covers topics such as how to maximize your lifestyle as a trader, tips for trading the daily charts, how to trade multiple currency pairs, and more!
Topics Covered In This Episode
- What Jim Brown is up to [2:30]
- A day in the life of a daily chart Forex trader [3:50]
- How Jim is able to follow 60 currency pairs [6:30]
- How Jim decides what currency pairs to follow [7:55]
- The process of creating custom indicators [12:40]
- How Jim Brown tested his trading strategies [16:00]
- What’s the cost of living in Da Nang, Vietnam as a Forex trader [22:25]
- How Jim handles drawdowns [24:00]
- The common mistakes people make in applying Jim’s strategies (interesting statistics) [26:30]
- What to do after a losing day on tight stop losses [38:30]
- Jim’s daily average screen time [32:05]
- How Jim managed to trade with a full-time job in the past [35:15]
- How long Jim’s daily chart trades remain open on average [39:15]
- And much more…
Resources Mentioned
- Backtesting Software: Forex Tester 3
- Backtesting Expert Advisor for MT4: SoftFx Simulator
- Grab Jim Brown’s books w/ free indicators
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 (exclusive training program)
How To Find Jim Brown?
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!
The Author (Translated)
6 Comments
Probably one most down to earth interviews yet. Jim’s Facebook group looks like it mirrors his style just the same. It’s always welcome to see different trading styles to help shake off the myopic views that can cripple any learning curve. Great stuff, keep up the good work!
Totally with that. Very down-to-earth. Thanks for the comment!
Thanks for sharing this interview Etienne. The MT4 expert for backtesting is a sound alternative to Forex tester 3 and it’s much cheaper. Although I like tradingview more than MT4 for my live analysis, this backtesting on MT4 is really easy and the data export to excel for further data processing works well. Great help!
Hi Chris,
Yes, I totally agree with that. I do pretty much all my backtesting on MT4 now. I didn’t have a chance to try the MT4 plugin yet… how was it?
Best regards,
Hi Etienne,
the essential functions are similar to Forextester but it allows to insert custom indicators. Furthermore, it is possible to open 2 or more chart windows at the same time during the backtest. That could be helpful for multiple-timeframe traders like some urbanforex guys ;) I only tested iton higher timeframes (H4, D) so far, the imported tick data from Dukaskopy brokerage look reliable, no weird bars like sometimes on forextester with minor pairs. Until now I did around 150 trades, everything seems to work pretty stable, no issues with the data export to excel so far. I’ll update you if anything changes.
Best regards,
Chris
Nice! Looks like that’s what I need :)