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

Etienne Crete / August 20, 2018 / 608

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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 it19:46
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