The 30 Year Institutional Pure Price Action Trader
In episode 574 of the Desire To Trade Podcast, you will be listening to an interview with Paul Scott, who explains how more than 30 years in professional trading shaped the way he reads the market today. He walks through why he focuses so heavily on price, avoids prediction, and treats losing streaks very differently from most retail traders.
The video is also available for you to watch on YouTube.
>> Watch the video recording!
Topics Covered In This Episode
- 00:00 Introduction
- 01:09 How his trading approach has changed over the years
- 02:05 What "look at the right side of the chart" actually means
- 03:13 The language of the chart: reading key decision-making levels
- 04:40 Is his approach mechanical or discretionary?
- 07:38 Where he learned price action
- 09:44 "The educational state of retail trading is disgusting"
- 12:55 Why mechanical price action beats emotional interpretation
- 14:20 Has anything changed in the markets with AI and robots?
- 16:29 Emotion and discipline in trading
- 19:32 Paul's advice for people who want to live off trading
- 20:41 How he handles losing streaks
- 21:42 His rule for cutting a setup after two losses
- 22:16 How he avoids overtrading too many assets
- 23:48 What traders don't focus on enough
- 25:37 Where to find Paul Scott (link below)
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