"Successful Traders Understand Flow" - Chris Weston | Trader Interview
ฝัง
- เผยแพร่เมื่อ 23 ก.พ. 2019
- 📈 FREE: The Complete Price Action Strategy Checklist - bit.ly/2o5NO0M
In this episode of the Desire To Trade Podcast, I interview Chris Weston. He is a Forex trader & Head of Research at Pepperstone.
I had the chance to speak with him on my recent trip to Australia at the Pepperstone offices in Melbourne.
Chris has made several appearances on television discussing the markets and is a trusted source of market commentary.
Throughout this trader interview, you'll learn how professional traders think, act, and get results in the Forex market.
WATCH MORE VIDEOS WITH CHRIS: • Successfully Trading F...
Find Chris on Twitter: @ChrisWeston_PS
Pepperstone's Daily Fix by Chris Weston: bit.ly/2IxmWGB
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// 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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20mins In and I need to say, This guy is A1. The most honest and well explained general outlook about the way to approach trading and what you should know at the start of your journey. Could of helped me 7 years ago but self education has served me well. Might have to checkout pepperstone again..! Lol. Good onya mate..!
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Successful traders understand that if you don't practice risk management, your money will "flow" to the big banks.
Get really good at reading one or two indicators of your choice. Does the indicator confirm price movement or is the indicator starting to tell a different story? One can only learn this by spending hours and hours looking for patterns. As Malcolm Gladwell stated in his famed book "Outliers", what makes one an expert? 10,000 hours of study/ work. There is a good interview on YT somewhere by the PRESIDENT, not chairman, of JP Morgan explaining why their new hires work so many hours? In three years they will hit that 10,000 hour mark and be experts in their own niche at least.
Bottom line is if we put enough serious effort in we can beat the banks at their own game. The advantage we have, per Warren Buffet, is we can literally ride on their coattails where as the banks are playing lots/ sizes so big they can only ride on each other.
@@eddooley947 You shouldn't base your trade off indicators. At the end of the day, all of your practice will go to reading the chart/market movement.
This guy definitely trades. Thank you for doing these interviews!
I'm glad you liked the interview!
Chris is the real deal.His knowledge and experience of markets are phenomenal.
i cant tell, he didnt really say anything, he just rambled like a coke head.
@@krisb-travel what credentials do you have
Great to get this institutional perspective. Many thanks, Chris and Etienne!!
Flow = Knowing people who know things!
I don't know why I'm just now finding your channel, but after seeing only 2 interviews that were GOLD I am impressed and subbed :) Big plus, you actually let your guests speak.
I’m glad to hear that! Welcome on my channel 👍
Have to understand fundamentals for market direction but then use it with your process -love his analysis!
That's a really good combo! 📈🔥
The most poignant point made by Chris was right at the end of the interview...have a process, and stick to it. Of course manage risk, if a "Trader" does not understand manage risk, then DO NOT TRADE! The most important part of my process (other than risk management) is developing a bias. Once you have a bias, trade price action, when, and only when, it agrees with your bias.
Awesome takeaway!! 💪📈
@@DesireToTRADE Etienn, what can a trader do if they have been trading for two years and continue to keep blowing accounts?
Stop and get in a good program or surround yourself with traders to see what you're doing wrong.
@@DesireToTRADE Ok. Do you know of any good trading programs to help struggling traders?
My academy 😁
Key take away from this great interview is mannaging risk and more important the mind set of "adding to a winner" instad of thinking when to get out , Thanks Etienne for this interview
I'm glad you liked that interview 💯
I like the tidbit about learning which time zones/sessions to trade in, that’s something’s I’ve noticed living in Bangkok, for the asset I like trading, it’s usually most active at night in the USA and early morning here in Thailand. The whole interview is gold. Also, you’re a great interviewer.
This guy talks like me. Damn, well maybe I talk like him. Lol....it's crazy finally gotten to this level of knowledge. It's testament of the work I put in.
Keep up the good work, really enjoying these interviews
Glad to hear that!!
9:45 An actual experienced trader telling us of the importance of Technical Analysis should be a very important call out to new traders who listen to internet Gurus who say Technical analysis is useless.
those complaining about ads should be aware of something called the adblocker. this is free but quality content and the content owner has nothing to do with the number of ads that gets placed on the video
That is wrong. You can disable / enable ads on your videos and even set the amount. However, youtube will sometimes not play ALL ads you set. But one definitely has the ability to disable them.
love his contrarian look on everything.. I'm the same! Great interview!
Talking about pyschology and being indifferent to gains and losses. It's one of the principles that helped me to grow account. Detached from emotions when trading. Now I'm a robot and the dogs bark at me lol
Truly that's why trading is all about being a math person, statistics person and a programmer in one. It's not a manual thing anymore. You need to quickly process data and quantify stuff. Manual trading is almost a certainty for being a losing trader.
I could never figure out why the market reacted the way it did to news, even attempting to look 6 months down the line. However, I can find multiple patterns and see if they confirm each other. Math, as Dave stated, is not emotional - it is what it is. I allow the big boys with deep pockets to set the stage and I just follow their tune.
Excellent interview. I learned allot from this. Thanks!
Glad you enjoyed it!
the quality of the journey to breakouts in price action is a deep way to understand it
43:01 well explained
So this is THE BEST and AUTHENTIC PROFESSIONAL FOREX WARRIOR sharing among all the videos I have seen.
Very clearly description. Excellent and glad I found this video.
Second video that I watched. Keep it going. Just wanted to mention that the Mic picks up the banging on the table on both videos. I'll keep watching, but hope others are not being distracted by that as the sound is very loud on our end. Appreciate the videos.
Yeah thanks for the feedback! I bought clip mics since then. Hopefully that makes a difference :)
Markets are not random events. They have consistent patterns that are predicable.
Chris stated clearly one of the first things my trading coach taught me - dumb luck is not repeatable. Have a plan and work the same plan so you can always compare apples to apples and not have some kind of strange fruit salad. To me this man also oozed integrity. I did not get the feeling he was some kind of typical snake oil salesman who thinks he can pull the wool over your eyes.
So you have a very low bar for people in finance!?
Awesome interview
Volume profile, Larry Williams inter market spread analysis, Bollinger/LRC bands, and market geometry will have you surfing the market waves like Laird Hamilton surfs the big blue waves in Hawaii. Fascinating full spectrum market interview as you go down under to ride the waves Aussie style. The truth shall set us all free in the market as well in the higher ethereal spiritual waves. As philosopher savant Ralph Waldo Emerson observed, "...the higher the truth the simpler the answer."
This guy was really helpful, thank you for this interview
Awesome interview mate, hope you enjoyed your time in Aus!
I definitely did!!
Tremendous talk!
Great interview, He gave me a lot to add to my tool box. How to look at I.V.
Great interview, thanks a lot Etienne!
I'm glad you liked the interview, Tony! Thanks for the comment!
That was an awesome interview, that guy is awesome
Great vlog. It would've been great if a chart illustration of market flow was provided. Maybe next time?
I'm taking the route of fundamental trading and Chris talking about using options for sentiment and risk management is exactly what has been on my mind but i haven't figured out how to do it. Unfortunately as retail all i have access to is cme tools. Hope you enjoyed our local coffee here Etienne!
This was a great talk.
7:04 can someone explain better how he looks at flow for forex in options and what he means by 1 week risk reversals? demand for put volatility relative to call volatility, skew differential, etc.?
In general, reading flow is about sensing who’s in control of the market at any given point in time, buyers or sellers? If you get that you can apply it to any market using any technique that fits you.
The best and the most honest interview i"ve ever watched,he doesn"t sell any shitty stuff just telling the truth,great video.
Awesome Interview!
Thanks! Glad you liked it, Nick!
Etienne man those interviews are gold worth! We need more !!!
Just published a new one today 🙌
the Pepperstone offices.... Oh,,, very famous company for Forex trading and the most famous case was they bust a case that one of the investors linking the Australia Governmental stuff inside-trading with NAB kids...This case is Australia " Wall Street" version.
LOLOLLLL.... Now I know THE OFFICE LOCATION.... Hahaha. Most of all, very impressive on our Melbourne Warrior. Proud of him and his pedigreed background. Yeah, OZ Warrior.
I scrap this one hour of video into my YT library.... LOLOLLLLL.... Very precious video among my collection... LOLOLLLLL
Thumbs UP
E Thank you for the great content very much appreciated. I heard in you previous videos that you have two take profit targets, can you please elaborate on how that is done....
Absolutely! I'll let my video do the job of explaining: th-cam.com/video/mWcCTbl07zY/w-d-xo.html
Thanks for the reply E
Nice interview mate. Your content is fantastic. Thanks for your contribution to the trading community. Is that Mandi behind the camera?
Haha yes... well spotted
Awesome, one of the best Trader/Analyst I've heard in a while
I’m glad to hear that!
I think professional traders should talk more about the learning process and what it actually takes to become a trader/investor, because beginners are going to lose no doubt, learning to trade is like a series of epiphanies .
True! But you can make it work :)
That's the part of learning. You have to lose in order to gain.
Well said…If I may add Id like to see the trade Order window too, not only the Chart window
Very well said - every one of those milestones get you closer to the end goal. Everytime I have one I run and tell my wife and she looks at me with a blank face no idea what im explaining but she can tell im excited.
@@wisdom1224 learning from failure is just life in general.
Great interview as always Etienne. I cringe on audits when I see traders moving their stop to break-even. Why? Having stops o/s of implied volatility like Chris has is the difference between you trying to beat the market as opposed to having the market beat you.... love it !
That's an awesome advice, Michael! Always at the top of your game!! 🙌📈
What does "having stops o/s of implied volatility" mean? That is a very cryptic sentence
@@educational4434 in options theres implied volatility. You want your stop to be wider than that
@@koma7778 Thanks! Any idea what o/s means?
@@educational4434 think he meant outside by that
Hey man keep doing what you are doing, this channel is absolutely incredible just like you are! Wish you good luck, brother!
Thanks! Very much appreciated 🙏
sorry the question, im from brazil, when he say flow he means reading the tape?
Great interview
This guy is super bright.
Great interview etienne 👍🏽
Glad you enjoyed it!
this is really good content, im late to the party but thanks nonetheless to both of you
Understand Flow
Got alot out of the video. Great to hear an institutional perspective. "...continuous improvement" is what the retail trader needs to do more of.
"it was not my thinking right, it was my sitting tight"
Thanks E great interview
Glad you liked it! 🙌
Absolutely mind blowing interview ! Hey bro Chris mentioned about a trading coach I think the name was Mandy! Could you give me some info regarding this please. Where and how we can make a contact with this person? Thanks heaps? 🙏🙏🙏
Here are the videos I’ve done with Mandi: th-cam.com/play/PLwmpbNUnTt6gYysPWtwB_ZKoSVdYab97Z.html
Enjoy!
Westy is a sharp guy , great advice .
Absolutely! Glad you liked that video 🙌
@@DesireToTRADE I know Westy and we have chatted a lot over whatsapp in a Macro group . He is top notch , none better
@@DesireToTRADE when you broadcasting James Whelan ??
March 24th... if you've not watched the previous interview with James it's here: th-cam.com/video/DUy77OLJlPc/w-d-xo.html
Good stuff
Glad you liked the interview!!
Powerful strategies...for trading not analyzing...✌️
When he is saying cable, what he is referring to?
Gbpusd
Solid interview. but Etienne u kept moving something in the backdrop lol why. a lil unprofessional lol but great show you have provided as always
Is this channel similar to "Chat with traders" podcast?
Not getting what u want is worse thing but what is worst is getting what u want and losing it.....so rightly said letting ur winner go is really hard than cutting losing trade
Etienne is really good at just letting his guests speak speak and speak haha I sometimes forget Etienne is in the room hahaha.
interesting !
Awesome to hear! Thanks for the comment!
yep nice OZ.. knows the market but not sure he trades a lot. retail bookies are small shops.
Looking to be a trader in few years, 17 now and a student
It’s easy to be a great trader when you can see the tape
Good interview Etienne but the video has too many ads... gets very distracting when you are trying to concentrate and listen. I do understand that you need ad revenue but if you can balance it better for next time it would be great.
I don't control that too much...I just know the monetization is on... not sure how many ads TH-cam places.
when i saw the video, there were 10 ads.
It's bad that TH-cam throws so many ads...I got tired and got TH-cam Premium now so I don't see them. I'll try to see if I can disable some :)
After you’ve taken first profits break even sl is peace of mind but I can see where your coming from. If your that disciplined you may not need it.
Great Broker
Awesome to hear 📈
Player Playa playa playa
Freezing cold, let me guess 14c?
Hahahaha.... I know this place just on the Collin Street and right in front of Continental Hotel.... LOLOLOL.... Spot on
26:12...gangster smile to the camera
Haha was checking to make sure the camera was recording :)
Need to pull your mic 🎙 off all the tables to avoid the banging sound which is annoying
22:00
people love to hit the table the mic is on...lol
First few seconds and I gotta say, to be honest if I wouldn't move my stop to breakeven, I wouldn't be profitable. If you freaking top tick almost everything you trade, why would I risk money on a trade that is supposed to have wayyy more resolution to the downside / upside if it would actually work out as it should, when I can just stop out and get a similar entry with a better price, more confirmation and full size again ? ;)
my thoughts too never hurts to re enter after getting hit at BE
I agree though about adding to a position when there’s more confirmation instead of taking profit early. Although taking some profit off the table every trade is nice for generating consistent income
Implied volatility = stops and start small and add to winners.
Interesting way of doing it 👌
The strategy that he talks about is only possible for institutional traders, in order to know flows u need to have good network of brokers, and it is not easy to see flows because its like a poker game nobody show how many shares behind their order that is the institutional game. But if u work in large institutional firm u can have good advantage in my channel there is free video for institutional trading strategy.
What is your channel name
Hope from you, the interviewer to find other way to manage you microphone and the thing that you try to set, it distracts our attention and the interviewee, beside it is somehow disrespectful to the guest, thanks for your effort and the great videos you add.
Content is good, but the audio quality needs to be improved.
Fire the guy that did the subtitles on this video
Technical Analysis helped me win big trades. But you also don't know... the price could go either way. One information that helped me to anticipate where the price is going is the money flow. I haven't lost a trade since then.
How do u know that pls
Explain please?
Not true
is it your mom in backround? xD
jokes aside, great interview!
No haha. That’s Mandi who introduced me to Chris…
@@DesireToTRADE Just messing with you :) Some interviews are pure gold, keep it up :)
This guy dey spit on God
I like the guys idea but adding to a trade only works in some markets.
Great interview....just sick of hearing about Rohit....
trader show to us p/l last half year .that's all :)))
this is an awesome video, educational . thanks for uploading. Subbed! a fellow creator~~~
Who else from other side of tge planet here
is this guy still in business?
Do we trust the brokers lol?
Holy crap, must of had to skip 40 ads to get to the end of the video…smh
I'd recommend you get TH-cam Premium. I haven't seen an ad in years :)
Do you have any good reputable mentor in Sydney Australia who is not just for money grabbing by signing up people? I really love trading but just couldn’t find a good genuine mentor. Too many scammers. I have fall into 3 times by signing up. Lost quite a lot of my hard earned money 😢
Gotta work on that lisp guy. Had to put CC on
cocaine demon giga chad
Lmao
Poor guy ( Etienne ) he barely keeps his eyes open 🤣
lol I don't think he Was ready for the detail.
a