355: He Makes A Living Algo Trading in Forex - Scott Welsh (@swelsh66)
Desire To Trade Podcast | Forex Trading & Interviews with Highly Successful Traders
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Show Notes
In episode 355 of the Desire To Trade Podcast, Etienne sits down with Scott Welsh, a full-time algo trader. Scott trades automated trading strategies for a living. You'll learn his best tips on algo trading and how you can start trading algorithms yourself.
Are you ready for it?
Previous interview with Scott Welsh
In This Episode, You'll Learn...- 0:15 Introduction
- 0:38 What has changed with Scott's trading since the last interview?
- 2:30 How much work does algo trading require?
- 4:38 Why you should re-optimize your algos
- 6:02 How do you avoid over-optimization
- 10:54 Should you focus on a few symbols or a lot of symbols?
- 11:41 Scott's trading review process
- 13:30 How to find strategies for algo trading
- 14:46 Why you don't need to learn to code to be an algo trader
- 16:04 Why trading ideas don't matter
- 17:55 Example of a forex trading strategy
- 19:44 Why common indicator logic may not matter
- 20:23 Why a time-based stop loss works?
- 23:09 The mindset of an Algo trader
- 26:40 Why you shouldn't care about your P/L
- 27:37 Why Scott loves trading contests
- 30:12 Why Scott sometimes trades with high risk
- 31:53 Where to find Scott Welsh
- And much more!
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!
Resources Mentioned- Virtual Private Server (VPS): AccuWebHosting FXVPS
- DesireToTRADE Forex Trader Community (free group!)
- Complete Price Action Strategy Checklist
- One-Page Trading Plan (free template)
- Recommended brokers:
- Desire To TRADE Academy
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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!