084: Trading The Daily Chart & Building Multiple Streams Of Income (@SiamKidd)
Siam Kidd: Trading The Daily Chart & Building Multiple Streams Of Income
In episode 84 of the Desire To Trade Podcast, I interview Siam Kidd, a Forex daily chart trader. Siam has a very interesting story of how he transitioned into trading and how he had to learn to trade the hard way. Trading the daily chart, Siam Kidd spends a great majority of his time building businesses.
In short, Siam has used Forex trading as part of its other streams of income to become financially independent. His trading takes on from 5 to 10 minutes a day on average, which means that Siam has enough time to concentrate on other interests/passions/businesses.
Throughout this interview, Siam placed a lot of emphasis on the fact that replacing a full-time job with full-time trading is none sense. The goal of Forex trading is to increase the freedom in your life, and Siam Kidd sees trading as a stream of income.
Share This!You need to be prepared to live like most won't so in the future you can live like most can't. @SiamKidd Click To Tweet You need to be diligent (i.e. your trading journal and stats) and nonchalant (not giving a sh** about your trades). Click To Tweet
In This Episode, You’ll Learn…
- Siam’s trading and review routines
- The changes needed to go from not profitable to making little money in trading
- The changes needed to go from slightly profitable to making high returns in trading
- How it works: Trading the daily chart while building businesses
- What happens when you start to treat trading as a profession
- How Siam maximizes his returns toward the end of the trading year
- How to reduce the feedback loop problem of swing trading
- The type of businesses Siam is interested in building
- And much more!
Resources Mentioned In This Episode
Trade Replay: the trade simulating software Siam mentions.
What is one thing you are going to implement after listening to this podcast? Leave a comment below, or join me in the Facebook group!
DesireToTRADE’s Top Resources
- DesireToTRADE Forex Trader Community (free group!)
- Complete Price Action Strategy Checklist (free checklist!)
- One-Page Trading Plan (free template!)
- DesireToTRADE Academy