157: “Every Trader Has An Unfair Advantage!” (@EminiMind)

Etienne Crete / August 20, 2018 / 333

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157: “Every Trader Has An Unfair Advantage!” (@EminiMind)

Every Trader Has An Unfair Advantage!

In episode 157 of the Desire To Trade Podcast, I interview Tim Racette, a successful day and swing trader behind the blog EminiMind. Tim is also on a different podcast which I used to listen to before starting my podcast.

He shares his story as a successful trader and highlights several important lessons about success in the field of full-time trading. We talk about goals, challenges, going to full-time trading when you have a full-time job, how to combine the two and a lot, lot, lot more.

Watch the video interview here.

Topics Covered In This Episode

What Tim Racette does, who he is, and a bit of background about him [1:44]
Why and how Tim Racette started trading [2:18]
Tim Racette’s mentors [4:46]
Strategies that Tim Racette used in the trading pits [6:06]
How Tim Racette evolved to trading on his own even with an unfair advantage [7:53]
Tim Racette’s trading style and being comfortable with the idea of being different [10:13]
Things Tim Racette had to do to go full-time trading for himself [12:50]
If day trading was a necessity to trade full-time [14:57]
Things that Tim Racette sees in people that they get wrong [15:52]
The feeling of “going too fast” in the process of trading full-time and what to do about it[19:46]
How traders should set goals at the beginning of the year [21:54]
Starting with something basic and then tweaking it [28:09]
Personalities outside trading that can help you become a better trader [29:12]
Failing in business but what you should do after and keep trying again [30:25]
Creating multiple streams of income as a trader [34:26]
The schedule or regimen Tim Racette follows [39:01]
Things or behaviors that people need to work on and adapt to become great traders [40:58]
Goals Tim Racette has for the future [44:21]
Doing back-testing and forward-testing for his ideas [45:54]
One piece of advice or one action step people should take to become better traders [47:41]