Growing up in a family and culture strongly critical of trading as a profession, Patrick Petersson opened his first trading account on his 18th birthday and risked his reputation and family money to follow a deep growing passion he had for years. After blowing up many accounts, he found himself homeless and rejected by all in his family despite fully paying them back. Passion, determination, and persuasion gave Patrick another chance as he started managing money for wealthy clients.
Join us in this unusual journey as we learn more about Patrick’s trading and intuitive Jedi skills to make lightning-fast discretionary executions.
Trading in the financial markets involves a risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice.
Topics & Timestamps:
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- 0:00 Background
- 3:15 Started trading and family connection
- 5:50 German cultural attitudes towards trading
- 9:55 How Patrick initially learned to trade
- 12:20 Early strategies
- 16:35 What he looks for in the charts
- 20:00 Being an intuitive trader
- 23:00 Why following the news is important
- 27:45 Early risk management and blowing up accounts
- 29:25 How Patrick raised money from wealthy people
- 37:00 Expected versus delivered returns
- 38:55 Going all in
- 40:10 How frequently he finds great setups
- 45:20 Change strategies after blowing up accounts
- 47:03 Family disowned Patrick for trading
- 49:40 Is Patrick’s way of trading teachable?
- 50:55 Trading by looking at imbalances
- 52:12 Changing styles frequently due to market conditions
- 56:15 Not accepting losses and revenge trading
- 58:15 Current market conditions and effects on trading
- 60:00 What Patrick struggles with most in trading
- 61:05 How trading has impacted his life
- 65:50 Future goals
- 68:30 How to get in touch with Patrick
Links & Resources
- Twitter: https://twitter.com/DayTraderPat
- Chat With Traders Community: https://community.chatwithtraders.com/