Walter Peters: Naked Forex & Swing Trading Like A Pro | Trader Interview
FREE: The Complete Price Action Strategy Checklist
Show notes: https://www.desiretotrade.com/125/
In episode 125 of the Desire To Trade Podcast, I interview Walter Peters. Walter is a full-time Forex swing trader as well as the author of the well-known trading book Naked Forex.
Forex Trader Community (Facebook Group): http://bit.ly/2esoMYj
// About Me
My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
What you must know: I'm all for trading foreign exchange, but I think freedom is much more important than time spent in front of your computer.
I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for!
If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you're good at.
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.
// You Might Also Like...
This Guy Tells You Exactly How To Trade Forex Full-Time And Make A Living! - https://www.youtube.com/watch?v=P6H6VHP5fX0
I Met Up With A Professional Trader Today (Invaluable Advice)! - https://www.youtube.com/watch?v=svkcsO2vzys
How To Create Your Forex Trading Strategy & Make It Profitable... As I Explore West Lake In Hangzhou - https://www.youtube.com/watch?v=Zb5X7k2JanY
Complete Trading Strategy With The Engulfing Pattern - Price Action - https://www.youtube.com/watch?v=WqTrn92CFBw
Get $20 FREE for your first stay with Airbnb: http://www.airbnb.ca/c/ecrete1
Really enjoyed this interview. Learned a lot. Thanks Walter and Etienne. BTW I am a certified hypnotherapist and I have treated traders for a more positive mindset, so I really appreciated that part of the interview.
Magnr is a handy cross-platform trading site connected to a few big Bitcoin exchanges. Accounts never require any personal data or identitiy proof. So signup is quick and possible with anonymous data.
Leverage is available at Kraken up to 5x for several cryptocurrency pairs, including bitcoin. The fees are depending on the volume of the margin account.
Bitcoin can be traded on GDAX up to 5x leverage. The margin trading option must be manually turned on the account in order to make sure the users understands and reads the associated risks.
Margin trading is basically borrowing funds to purchase an asset, this allows you to buy more bitcoins that you would normally be able to do normally in the hope of making bigger profits on the price movements.
Advantages of Margin Trading.
The biggest benefit of margin trading is that you can take advantage of the additional funds when the market moves in the direction you expected. The overall profit of the positions once the bitcoins are soled and the loan is repaid is significantly higher compared to an ordinary trade execution.
Disadvantages of Margin Trading.
The disadvantage of margin trading is by nature the amount of risk a margin account can hold. The higher amount of leverage you take the bigger amount of money you can loose in case the market moves in an unfavorable way. Due to the margin call, the margin account must be funded countinuesly that involves significant amount of liquidity. It is only advisable to trade on marking if you have enough experience already on the market. To mitigate the associated risk, many trading platforms only offers limited amount of leverage trading opportunites.