138: How To Succeed At Trading For A Living (@stocktcm)
How To Succeed At Trading For A Living
In episode 138 of the Desire To Trade Podcast, I interview full-time trader Moritz Czubatinski exploring the topic of how to succeed at trading for a living.
Moritz has been trading for quite some time. He founded Tradeciety and Edgewonk (a pretty cool trading software) together with his business partner Rolf.
Moritz has lived in Asia for 7 years and moved back to Germany to run his businesses. He has also been a day trader and is right now transitioning to swing trading and position trading.
In this podcast, Moritz talks a little bit more about his tactics and some of the uncommon ways that are used to become a profitable trader and to continue growing.
Topics Covered In This Episode
- What he’s doing in Europe these days [2:50]
- Living in Asia and trading or working while there [3:58]
- His favorite trading and non-trading books [5:10]
- What helped him most to become a profitable trader and trade full-time [6:50]
- What needs to be on your to-do list if you’re a beginning trader [8:57]
- How he became profitable and the things he did [10:38]
- His review process [12:53]
- What he will tell people to do when everything seems to go wrong [14:20]
- Thinking in terms of time [16:27]
- Transitioning from day trading to swing trading [18:31]
- His best tip for people who don’t have a strategy [19:54]
- How he handles drawdown [22:30]
- What his ideal setup is [24:02]
- Trading with single or many strategies/systems [26:07]
- Using volume in stocks [29:08]
- His productivity techniques [30:10]
- Scheduling his trading time [32:43]
- His entry system and recommended timeframe for new or aspiring traders [34:39]
- Studying to become better [35:47]
- Things that he keeps doing to move forward [37:13]
- Accounts he started with [40:20]
- What people have to learn about [41:34]
- Scenario optimizer/tester in Edgewonk and other features [43:56]
- His educational background [48:56]
- Best and worst parts of the forex trader lifestyle [50:02]
- His thoughts on hedging [50:51]
- Different job fields one can take in trading [53:19]
- Trade Journaling: Edgewonk
- Book: Technical Analysis of Stock Trends by Robert Edwards & John Magee
- Book: Atlas Shrugged by Ayn Rand
- Book: Portfolio Selection by Harry Markowitz
- Book: The Evaluation and Optimization of Trading Strategies by Robert Pardo
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 Moritz Czubatinski?
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!