In this episode of the Trading Lifestyle Podcast, I was fortunate to be able to sit down with Kim Krompass and learn about her journey to becoming a professional independent trader. I met Kim through the Meetup group that I started here in the San Francisco Bay Area.
The one time that we talked in person at a meetup was very brief, so I was happy when she agreed to be interviewed for this podcast.
She has taken an interesting route to becoming a trader. Just like many people who come to trading, she was very successful in another area before she began to learn to trade.
Unlike other traders however, she was profitable from the very beginning. She will go into what strategy she was using in the interview. But needless to say, it stopped working during the 2008 crash and she had to do a lot of soul searching to figure out if she really wanted to continue to be a trader or not.
Since her bread-and-butter strategy was not working anymore, she had to figure out a better way to trade and she found some mentors and coaches to help her get back on track. What resulted was a strategy where she doesn't use any indicators an takes very small losses, as little as 8 pips for certain pairs.
We also got to talking about what she does for fun outside of trading, why she doesn't usually hang out with other traders and what fine wine has to do with anything. This is a very informative and no-nonsense interview that covers a wide variety of topics, so I hope you enjoy it!
In This Episode
- Why she was a profitable trader from the beginning
- What is Kim's strongest trading trait
- Her strong opinion on demo trading and backtesting
- Find out her daily routine
- How she made a fortune and lost a lot of it
- Learn about two of her most successful students
- Why the spread on the Mexican Peso might not be as scary as you think
Click Play To Listen To The Interview
- Price Action Traders Institute
- John Person – National Futures
- Paul Tudor Jones – Famous trader
- Turtle Traders – A famous trend following trading experiment
- Michael Covel – Trend following researcher, author and speaker. Great podcast too.
- The Carry Trade explained
- Jing – Screenshot software
- Twitter – What Kim uses to broadcast her trading and socialize with other traders
- Bitly – Shorten links to share online
- Notebook – For recording trade entries
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What did you think of this episode? Let us know in the comments below…