Patrick Reid is a currency expert with over 15 years experience in trading FX and propriety desks. He has accepted a role as Visiting Lecturer at The University of Cambridge and is Co-Founder of The Adamis Principle which mentors traders at all levels. This outreach to less fortunate young people is a top priority for Patrick. His passion to nurture and find talent in young people has led him to partner with The Youth Group and Jack Parsons, the UK’s chief youth officer. In this episode of How To Trade It, Patrick discusses the qualities he’s looking for in a good mentee, and the importance of focusing on things other than the amount of money you want to make. You don’t want to miss it!
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[04:51] The trading desk made me cry[07:11] “Must try harder!”[11:17] Don’t look at your P&L[16:13] A great place to be[18:24] Qualities of a good mentee[29:41] Entering & exiting [32:19] Fade[39:28] Building your data bank[41:07] Macro strategyThe Trading Desk Made Me Cry
After 15 years with the BBC, at the age of 39, I quit my job and began an apprenticeship at a trading desk. I was basically thrown into the deep end. The first two weeks were brutal, and yes, at one point, I found myself in a restroom stall CRYING! For a moment, I wondered if I had made the biggest mistake of my life. Then, I pulled myself together and got right back to it. The first three months were just survival while I was learning about economics and price action. Eventually, I found success. So I know what it takes to get started, how to persevere when it’s difficult, and also how to push others to learn the same things.
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