Anyone Can Trade For A Living
In episode 190 of the Desire To Trade Podcast, I sit down in Hong Kong with professional with fund manager Ray Barros in Hong Kong 1 year after our initial interview.
A lawyer by profession and training, Ray gave up his lucrative law practice in the 1980s to focus on his first love – trading. His initial attempts at trading failed miserably and he suffered heavy losses.
But, after making all the mistakes in a trader’s manual and then some, Ray finally hit on a trading approach that gives him the market edge.
This approach has proven effective in both trending and congested markets, allowing him to trade profitably and consistently.
Thereafter, he was highly sought after by major banks to manage their funds.
At the same time, he was also very much sought after as a trainer to train other institutional traders based on the strategies and techniques he developed.
In the early 1990s, he became an outsourced FX Trader and this gave him the flexibility to focus his next great passion – teaching.
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Watch: Video interview here!!
Recommend watch: Professional Trader shares his tips w/ Ray Barros
Topics Covered In This Episode
- Who is Ray Barros and what he does 00:38
- Why Ray took a break from trading education 00:58
- The framework that Ray and his students developed 2:52
- How Ray uses trading stats with his students 03:46
- The importance of keeping a trading journal 06:50
- How does Ray journal look like 09:00
- How to use your journal to learn and improve 12:15
- How Ray finds solutions when he makes mistakes 13:16
- How to find a support group as a trader 14:27
- An explanation of the 4 phase framework Ray and his students developed 17:00
- Methods for reducing losses in trading 21:06
- How this 4 phase framework can be used by different traders 22:48
- What common mistakes Ray have seen traders do 24:28
- How to add to your positions 26:07
- How Ray manages his risk 28:10
- How doe Ray recommend people to start learning and evolving as a trader 29:56
- Always learn and always improve 32:53
- How can people find Ray Barros 33:43
Resources Mentioned
- Trade Journaling: Edgewonk (use code “DTT20” to get a discount)
- Book: The Nature Of Trends (by Ray Barros)
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 Ray Barros?
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!
