Trading Forex For A Living Advice - Jim Brown | Trader Interview
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- Опубликовано: 6 июн 2024
- In this trader interview, Etienne interviews full-time Forex trader Jim Brown and gets his advice on trading Forex for a living.
Being in Da Nang for several years, Jim has created a freedom lifestyle using Forex trading. He mostly does swing trading, but uses multiple timeframes and indicators he developed himself.
Jim Brown's books (get his indicators for free): geni.us/vBAy
Previous interview with Jim Brown: • Daily Chart Trader Str...
Chapters
0:00 Start
0:15 Intro
1:02 Who is Jim Brown and what he does
1:48 How has Jim's trading evolved since the last interview with Etienne
5:53 Why Jim Brown doesn't believe in Set and Forget EAs
7:06 How Jim manages his trading EAs
9:06 Why expectations in trading are really important
12:09 The correct progression of a trader
13:14 Why jumping strategies doesn't work
16:57 How to create your own strategy
20:29 Why discretionary trading and systematic trading are both ok
26:00 How Jim deals with correlation when trading 28 fx pairs
30:04 How Jim trades Exotic currency pairs
36:44 Recap and where to find Jim Brown
// SOCIAL
Forex Trader Community (Facebook Group): d2t.link/FBgroup
Facebook: / desiretotrade
Twitter: @desiretotrade
IG: @etiennecrete
// TRADING MUST-HAVE RESOURCES
Forex Broker (Pepperstone): d2t.link/pepperstone
Forex Broker for Canada (Axi): d2t.link/axitrader
Best Platform: d2t.link/tradingview
Backtesting Tool: d2t.link/soft4fx
VPS (for algo trading): d2t.link/vps
Trading Journal: d2t.link/journal
// MUSIC
David Cutter Music - www.davidcuttermusic.com
Andrew Applepie - andrewapplepie.com/
// 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.
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.
// Disclaimer
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.
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Развлечения
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Hey Etienne, thanks for having me on the show. Always a pleasure chatting with you. Sorry about the rant ..... and my apologies to my Price Action trading friends 🙂Like I always say, there is no definitive right way to trade, as you should just trade what works for you and what you are comfortable with. Thanks for all the kind comments about the interview also. Greatly appreciated. Cheers.
Thanks man
Hey Jim when you check your daily chart, do you take trades from the daily wick or daily body where price has closed?
I really enjoyed this interview Jim!
I especially love hearing another Aussie talking trading👏
You've inspired me to think about indicators as a tool for future strategies I will be working on despite the fact that my consistency has come from price action.
The thoughts I had hearing you speak is summarised in a comment I made above, will attach my main point below.
I think the problem with indicators now is its very easy to backtest them over 10 plus years and it's easy to see they don't work all the time or enough to be profitable on their own, price action is much harder to code and backtest and so people that are coming into the market as beginners don't trust indicators but at the end of the day both price action and indicators require experience to use in a way that is consistently profitable.
One of the best interviews by a real trader............Not the superstar youtube trader who post videos of 3-digit returns (or thousands of $$$ of profit in a month) just for earning from youtube rather than from trading consistently
So many simple and important things to learn in this interview.
Loved it.
Agree 100% with all the things Jim Brown says.
Thanks for this interview Etienne
Yes that's very true! I'm glad you like learning from real traders.
Anyone who can manage a David Bowie reference in a trading podcast is always a welcome addition. Love the no-nonsense approach. Nice content!
What a guy and what a consistent trader. Got his books a while back when I started trading, then looked into other systems and recently came back to Jim's view of things. I don't really know of any other traders that actually trade for a living and are actually consistent.
Great interview. Looking forward to getting stuck into Jim's books
Excellent video!!
Come on Jim you legend! Bought his books a while back, must read everyone
Keep these coming, Etienne!
I just got two of Jim's books. I am very grateful to him.
Vietnam is my country. Glad to know that some traders love living in Vietnam. Hope to have a talk to you guys in Da Nang one day. Keep this amazing work up, you are inspiring traders from all over the world. Appreciate it!
Awesome! Thank you for tuning in 👌🏼
Thank you Etiene your vedeos are my companions at work.
That's awesome! Thank you.
I've watched THOUSANDS of hours of trading videos and Etienne has by far the best motivational videos with professional traders.
Thank you, Ron! Much appreciated!
I bought all of his book, still reading about the method one will definitely read his "divergence" one very good indeed.
This fella don't need stops or targets because his risk management is on point. Starting small with 10% of optimal position size is crucial for me swing trading.
i really start to like this guy
Merci etienne!
Jewel of a video, thank you both !
Glad you enjoyed it!
DaNang is a nice place.... I wish I can meet him one of these days to ask an advice..(if he still there for more years)....
Definitely a great place!
For info Étienne I use tradingview and built a robot that trades for me. I'm on crypto so you got a lot of platforms to automate the trades with your accounts API. So still weirdly not possible from tradingview but there are workarounds
Please more forex trader interviews
Should stop loss be set larger in price action technique?
Love JIm!
I am trading on daily only. 2 years into this and its the only place I win consistently and I dont mind going into the red here and there as a result of using daily tf..
Good interview. Makes me feel good that I still am not to profitable. 2 years is not a very long time..
Great to hear!
Why are you not profitable?
@@riz4141 i am profitable. Just not too profitable.
Jim's trading style and technique and general approach to trading sounds very similar to VP from NNFX would love to know if they know each other. An interview with VP would be huge... 👍🏻.
Jim doesn't like VP. I had a few discussions with Jim about it :)
@@DesireToTRADE have to admit though VP would be a great interview. Loving your channel btw.
I wonder if black Friday and bank holidays will effect currencies greatly in sell orders...
Hi Etienne, do you have transcripts for these interviews?? Thanks
No I do not. Any reason you ask?
There is a closed caption option in RUclips if need be
So if I am understanding correctly, we should not care about a specific outcome at all during the learning process?
Then, from what point of competency would you say it's _"legitimate"_ to set goals as a trader?
Is profitability the only legitimacy factor to start setting goals? Or do you see other factors?
how can i get MACD platinum please
Get his books mate
Get Tom Hougaard on.
Its a long way to the top if you want to rock and roll AC DC
I like Jim and I've been in the FB group a few years but let me be clear. This system will not work without hedging and I don't mean a little, he is hedging the living crap out of his trades. The US does not allow hedging so you need multiple accounts and it makes it a pain in the arse to do it successfully. Jim also has a lot of experience finding the correct pairs to trade and also trades exotic Forex pairs. Like most systems, you need an edge to be profitable and these things are his edge and there is likely more. If you think you're going to just trade his system vanilla on daily charts and be consistently profitable, you're dreaming. The amount of false signals is horrible and unless you learn to ride the winners to the bitter end which are typically tops/bottoms, you'll quickly find your account blown.
Get on Djamal Adib! He is specialized in FX and traded massive accounts.....
No stops.....
price action are for suckers
and how do you trade?
@@TheStrataminor similar to jim, but with added volatility indicator as filter
@@azliothman1322 Indicators??? I don't see any edge there..... personally Hougaard, Brooks etc are doing great with PAT