In this episode of the Desire To Trade Podcast, I sit down with Scott Andrews. This trader has an amazing story of struggles followed by great success.
Scott first made his fortune in tech prior to the Dot-Com bubble in the 2000s. He then saw his net worth go down with the market crash, which is what led him into trading. Although he was lucky in his first year, Scott saw his account drop very quickly and needed to develop the right skills in order to continue his journey toward becoming a successful fund manager.
FREE Case Study “Quitting Your Job To Finally Trade Full-Time”: https://desiretotrade.co/case-study
Timestamps – Trader Interview Summary:
0:00 Start of the video
0:12 Introduction to the interview
0:54 Who is Scott Andrews and how he got into trading
12:46 How Scott got back on track after losing a large chunk of his trading capital
17:04 How Scott started to develop and test his algo strategies
23:33 The importance of testing and gathering your data for your trading strategies
24:41 What to do when your strategies experience a loss larger than your expected results
30:43 How Scott would recommend starting looking at managing money
37:46 How Scott and his fund scaled down in size during drawdowns
38:58 What are the most important things Scott learned from managing investors capital
40:43 Scott’s top tips for developing traders
43:05 Where to find Scott
43:55 Do this when learning to trade
Free quant resources: https://desiretotrade.co/investiquant
More on Scott Andrews
Scott Andrews is Co-founder and CEO of InvestiQuant, Inc. and oversees all company operations. In 2008, Mr. Andrews founded Master The Gap, Inc. where he gained recognition helping self-directed investors use intraday trading techniques to navigate the 2008-2009 financial crisis and take advantage of its extraordinary volatility. In 2010 he and his fellow co-founder, David Skowron, began assembling trading systems to create more accurate market forecasts. In 2015, the company was renamed InvestiQuant and collaborated with Duke University’s Center for Quantitative Modeling to evolve its predictive analytic models.
Forex Trader Community (Facebook Group): https://desiretotrade.co/FBgroup
// TRADING MUST-HAVE RESOURCES
Forex Broker (Pepperstone): https://desiretotrade.co/pepperstone
Forex Broker for Canada (Axi): https://desiretotrade.co/axitrader
Best Platform: https://desiretotrade.co/tradingview
Backtesting Tool: https://desiretotrade.co/soft4fx
VPS (for algo trading): https://desiretotrade.co/vps
Trading Journal: https://desiretotrade.co/journal
David Cutter Music – http://www.davidcuttermusic.com
Andrew Applepie – https://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.
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.
Thank you for trusting me with my truthful and reliable opinion on any future purchase you may make. I always disclose this information when it is the case. As part of the Desire To TRADE family, you allow me to be able to use affiliate/referral links when suggesting items for purchase. As a customer of the products I refer, you help me sustain the time and resources to create content on this channel by generating revenue from your sales. This doesn’t affect you in any way in the checkout process (I’m sometimes even able to arrange a discount for you that is special from other customers).