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

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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
Why and how Tim Racette started trading
Tim Racette’s mentors
Strategies that Tim Racette used in the trading pits
How Tim Racette evolved to trading on his own even with an unfair advantage
Tim Racette’s trading style and being comfortable with the idea of being different
Things Tim Racette had to do to go full-time trading for himself
If day trading was a necessity to trade full-time
Things that Tim Racette sees in people that they get wrong
The feeling of “going too fast” in the process of trading full-time and what to do about it
How traders should set goals at the beginning of the year
Starting with something basic and then tweaking it
Personalities outside trading that can help you become a better trader
Failing in business but what you should do after and keep trying again
Creating multiple streams of income as a trader
The schedule or regimen Tim Racette follows
Things or behaviors that people need to work on and adapt to become great traders
Goals Tim Racette has for the future
Doing back-testing and forward-testing for his ideas
One piece of advice or one action step people should take to become better traders