Mike Schwartz: Mastering Your Trading Journey
In this episode of the Trade Pro Academy podcast, Vic interviews Mike, a seasoned trader from Trade Pro Academy, about his trading journey, the evolution of his trading style, and the importance of personalizing strategies. They discuss the challenges of order flow, the role of prop trading firms, and the significance of risk management and trading psychology. Mike shares insights on consistency in trading and emphasizes the need for traders to master one skill at a time for better results. The conversation concludes with advice for new traders and a caution against trading on Fed Days. Takeaways Creating your own trade style is essential for success. Order flow can lead to impulse trades and fakes. Widening stops and reducing position size can help manage risk. Eliminating noise in trading is crucial for clarity. Trial and error is a significant part of developing a trading strategy. Prop trading can be a great learning tool but comes with challenges. Risk management is key to long-term trading success. Consistency in trading requires mastering one skill at a time. Avoid trading during high volatility events like Fed Days. Personalizing trading strategies leads to better outcomes. Sound Bites "Order flow can trigger impulse trades." "You can risk $25 to learn how to trade." "Don't trade Fed Day." Chapters 00:00. Introduction to Trading Journeys 05:57. Navigating Order Flow and Market Dynamics 11:55. Trial and Error in Trading 17:59. Managing Risk and Trade Execution 23:58. Conclusion and Key Takeaways 30:59. The Power of Journaling in Trading 35:56. Understanding Prop Trading and Its Challenges 40:50. Risk Management in Prop Trading 45:58. Choosing the Right Prop Firm 52:02. Consistency and Profitability in Trading 58:07. Final Thoughts on Trading Strategies Checkout the ELITE All Access Subscription (Courses + Rooms) Enjoying this podcast? We’d appreciate it if you can drop us a rating and review on iTunes here Leave me a message or your question on Speakpipe here Connect with our community online: Trade Pro Academy Catch up with our earlier episodes: Mind Over Markets Podcast Join our FREE trading room here Follow me on Instagram here and on Twitter here