Genuine responses!! Being true to his heart.. enjoyed listening to Patrick Petersson !

"It's not the pain of losing the money. It's the pain of not being able to trade." Most traders will have gone through this pain at some point before becoming consistently profitable. That is a major gold nugget quote I got from this interview. If we can remember this pain when we feel ourselves starting to go on tilt, we can stop trading for the day, or for the week. We can remember that the pain of a losing day or a losing week is nothing in comparison to the pain of not being able to trade at all.

@joyboygamer5852

5 ай бұрын

This funny

He became the stock market after watching the naked chart for a long long time.

Great guy. I was busting out laughing at so many parts. 😂😂😂😂😂😂

@joyboygamer5852

5 ай бұрын

Me to

Loved the interview. What a passionate guy, what a way to live

This has to be one of the most entertaining chat with traders episode. I don't know how he does it but hey, if it works, its not stupid

When he said that he trades of the 30sec chart, and has blown up 50 accounts, and relies on 'twitching' candles to trade, I started to wonder if this was all true or not. Probably the most unlikely interview I've heard on this podcast - this guy is legit, right? Amazing how this guy trades - it is literally unbelievable!

I remember when jack schwager said he interviewed a guy who went against all rules of professional trading and traded extremely dangerously and questionable but it worked. And I definitely think this guy fits that. 100% position size in every trade because he can’t stand to not put all of his money in every trade 😂 that is wild stuff but I cannot

@monkeynuts9237

Жыл бұрын

Do you happen to know which interview it was?

@traderlope1164

Жыл бұрын

@@monkeynuts9237 it was years ago I would search CWT jack schwager it’s on this KZread page

@traderlope1164

Жыл бұрын

@@user-xn2wg2oe7s he said in the interview he doesn’t like having multiple positions at once. Full size doesn’t mean he’s risking it all, right but it’s just funny and wild that he came up with that idea to go all in on every play 😂

@investortoday8469

11 ай бұрын

@@monkeynuts9237 I believe it was one of the final chapters in the original "MArket Wizards" book by Jack Shwagger. It was titled "The intuitive Trader" hope that helps

@sskhussaini

9 ай бұрын

​@@user-xn2wg2oe7sexactly! 100% is not for everyone, and you WILL blow your account multiple times, but for some people it just works. 100% position doesn't mean 100% risk, it just means that person is leveraging their whole account to get in a bigger position. This will have a larger loss, but the win is just as large. Also, I think overnight 100% is silly, I'm pretty sure these guys that do full port their accounts only do so on smaller timeframes, 1-30 minutes probably.

Loved hearing a completely different approach to trading, and one that goes completely against the standard rules of 'sound trading'.

big up for Patrick. Great guy.

Bonkers. Can't wait to listen to it again

This was a good interview. Many traders love to attack a trader that is a bit unorthodox in his style. I'm sorry but if you trade for 16 years and are thinking about trading 24/7 you are going to figure out something that works for you at some point. This guy has obviously figured out a system that works for him - essentially discretionary price action trading with a news catalyst to provide bias, not really all that crazy.

Thanks god I find a person who defend trading only by feeling

“I like putting all my eggs in one basket and then watching the basket very carefully.” -Stanley Druckenmiller

@AquiredThinkers

Жыл бұрын

That was Warren Buffet mang

@peterc9925

Жыл бұрын

@@AquiredThinkers No, it’s not Buffett.

Such a relatable guy and really enjoyed the interview questions especially the simplicity of the discussion style. This guy reminds me of the 'Intuitive Trader' chapter from the "Market Wizards" book which had a guy interviewed who trades just like Mr. Petersson. The guy from the book was actually embarrassed and wouldn't reveal his name. Kudos to Patrick to not deny his own truth to the trading community

Absolutely loved this episode! What a crazy guy! And he's funny as hell haha

Great vid Patrick, here are some nuggets of info: 📰 Patrick used to read financial newspapers during high school, aspiring to work in a bank or become a CEO. 💰 Patrick started trading with money he received from his mother, but she eventually cut off contact with him due to her perception of trading as gambling. 🌍 In Germany, the attitude towards trading has been conservative, with limited financial education available. 📚 Patrick learned trading through self-study, analyzing newspaper charts and news to understand market reactions (we should all aspire to do this). ⏰ His early trading strategies focused on holding stocks for a maximum of one week based on fundamental analysis and news trends. Anything else? :)

42:07 All in bro! 😂😂😂😂😂😂

If you start reading the Jesse Livermore story, make sure you finish it.

If you want to be like him... Need to be prepared to blow up 50 accounts !!

@investortoday8469

11 ай бұрын

Aw Damn that's wild

I reccomend to skip to the 30:00 timestamp - one might feel frustrated for the rest of the episode as one see how he raised money and manages risk

@thurnervilla

11 ай бұрын

Yeah, after the 30 minute mark the interview goes into bizzaro land. Does this guy actually make money or does he just blow other peoples money? Why does he need to find new rich people all the time? I got questions…

I love Germans. This guy made me laugh. I like the nervous candles. I understand what he means. you can see it before an event when the Insiders are buying or selling or the people who have the news quicker than everyone else. Very fast fluctuations. I can't believe he doesn't use volume

Will grow well

You guys don’t understand, you guys hear he enters all in on one position and y’all freak out. Why wouldn’t he use the capital that he has. This doesn’t mean he’s risking the whole account. He never losses more than a specific amount on any single trade. Max loss per trade and a max loss per day. Most don’t understand this simple risk management concept.

@nekineki8097

Жыл бұрын

Exactly, if I want to risk 1% of the account on a day trade, I almost always need to go on margin (2 - 4x) due to tight stop losses. And risking 1% of equity on a trade is not on a "overly risky" side.

@sskhussaini

9 ай бұрын

These people think that there's only one correct way to trade, forgetting that any way that makes consistent profit is the correct way. People are just bitter because they gave up before finding what works for them.

Incredible story 👊🏻💯

Lovely interview, nice and controversial judging by the comments 😆

I have been day trading for 4 years. I have a nice trading set up but I have been sleeping in my truck for the last 5.5 years

I imagine getting Oliver Vélez on the podcast isn’t easy.

Great interview, it was like you spoke directly to me. I have a big question - I currently have a day job. Do you think it is possible to make it with trading on the same level of intensity in this way? I live in the same time zone as you.

@investortoday8469

11 ай бұрын

IMO th ereal answer is wherever you find your edge. For some their edge relies on steady income, cash flow - for others they succeed more if they go all in on trading markets. You can only discover it for yourself , no one can reveal that for you

@sskhussaini

9 ай бұрын

Also, let me add on to the guy above me, and tell you what an EDGE really is. Every time you enter a trade, there's a 50/50 chance of winning and losing. So the market is just a probabilities game. An EDGE is ANYTHING that gives you a higher probability of a win compared to a loss. There is NO right or wrong way of trading, only profitable and losing ways. So you can use whatever works for you. People who love ICT or smart money concepts love to bash on people who use RSI and MacD. People say indicators are a waste of time and money. But what works for you, what makes money for YOU is the right way for you. Also, work on trading psychology, look into Mark Douglas, Tom Hougaard, read Mark Douglas' book Trading in the Zone. Best of luck man.

I do the same 100% position size, trade only the best setups, it does make a difference

what part don't you believe?

@marc_aussie

Жыл бұрын

What are some of the key points you got from this interview that will help your trading?

@BiblicalChristianSteve

Жыл бұрын

@Marc Aussie @Marc Aussie "It's not the pain of losing the money. It's the pain of not being able to trade." Most traders will have gone through this pain at some point before becoming consistently profitable. That is a major gold nugget quote I got from this interview. If we can remember this pain when we feel ourselves starting to go on tilt, we can stop trading for the day, or for the week. We can remember that the pain of a losing day or a losing week is nothing in comparison to the pain of not being able to trade at all.

I cannot take this guy seriously. But it was fun to listen to.

@5MinsYoga

Жыл бұрын

wondering the same! vauge AF! contradicting with himself....

@BiblicalChristianSteve

Жыл бұрын

His story is crazy, but if you're a trader, you can tell it's true.

Sounds like he’s a boom and bust trader. But trading other peoples money resets his psychology to play it safe. After he pays them back, he gets overly risky with his own money.

@sskhussaini

9 ай бұрын

OPM does tend to do that to you.

I can check to have you a place I our fund in Canada

I simply cannot believe this guy... What sort of vetting did you do prior to airing this?

@marc_aussie

Жыл бұрын

They need to require anyone they interview to post statements to an independent verifier before they move forward with an interview. Would add a lot of credibility. I believe Schwager does that.

@ChatWithTradersPodcast

Жыл бұрын

Regarding vetting, we have our own process and do the best we can to ensure our guests are credible: chatwithtraders.com/faq/

Yeah this guy will blow up again. No risk management at all 😂

Was this interview a joke. Real question.

@ChatWithTradersPodcast

Жыл бұрын

No, it's not a joke. Patrick is a real day trader that earns all his money from trading. That is pretty respectable. Is there only one right way to trade? People may not agree with his trading approach or style, but it's real. His trading style is not mainstream. That's how he actually trades. Most traders cannot trade his style and probably shouldn't. Like with many things, traders come from different backgrounds, styles, school of thought. CWT shares and reflects the stories of traders of diverse backgrounds, styles, perspectives...

@bottomphishing7377

Жыл бұрын

@@ChatWithTradersPodcast very dangerous perspective to active gambling.

@150_ENGINEER

Жыл бұрын

@@bottomphishing7377 He's taking risk just like the rest of us. It's just more risk. It's not gambling if you have an edge and you can get an edge just from thousands of hours of screen time.

@150_ENGINEER

Жыл бұрын

@@ChatWithTradersPodcast Great answer

@BiblicalChristianSteve

Жыл бұрын

​@Chat With Traders Anyone who has a burning passion for trading can tell that Patrick is a real trader. His story is crazy enough for a movie, but there is no way he would be able to know all the things he talked about in trading without going through it. He's been through the ringer and made it to the other side, in his own way. Props to him and props to you Ian for having him on the podcast

Sounds like a nice guy but let’s be honest seems like he has no strategy no risk management goes all in on every trade anyone who knows how to trade will know this guy is a gambler

So the rich guy gives him 20k and he gives him back 1k profit within a month. That's about the same as a t-bill with insane risk. Either that rich guy is a moron or this guy is lying.

Is this guy a troll? How do we verify what he said is what he did?

@michaelgbonda4234

6 ай бұрын

Init😂

He always traded real accounts like paper trading accounts, that's his secret

funniest cwt interview

This guys edge in the market seems to be to find somebody to give him money to trade, lose it, then find someone else to give him more money to trade. Rinse, repeat.

@investortoday8469

11 ай бұрын

ya know I want to say you're wrong but I'm not quite certain. apparently he is still in the game somehow. I am curious what he might do with another 10 years of market experience