Most traders are adept at looking at the charts through technical tools, but do you ever do technical analysis on yourself? Are there cultural differences amongst traders when it comes to what is important? What if you simply tossed a coin to determine your trades? Would that work? Darren and Walter each offer a very simple trading system to encourage you to “break away” from complicated strategies, and move toward simple trading.

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In this episode:

03:00 – trade your time for money?

03:48 – in a rush

07:20 – traders who don’t know how much risk they take

11:45 – cultural background

13:25 – Tom DeMark

15:26 – the basis of most of my trading is buy low and sell high

18:13 – we have to have something to believe in

19:52 – what you’re using doesn’t really matter…..

21:28 – money management

23:36 – a different approach

25:39 – breaks

29:30 – the key

Tweetables:

Few people are content to accept that blind chance plays a large part in their lives. [Click To Tweet].

If price is high and it starts selling off, then what more reason do you need then to take a risk on a trade? [Click To Tweet].

When you first start trading, it’s kind of like playing roulette. [Click To Tweet].

Download The Full Episode 11 Transcript Here

Walter: What you’re using doesn’t really matter, but you’ve got to use something to keep you disciplined.

Announcer: Two traders, Darren and Walter, pull back the curtain on profitable trading systems, consistent money management, and profitable psychological triggers. Welcome, to the 2Traders Podcast.

Walter: In this episode of the 2 Traders podcast, Darren and Walter explore why “busy” traders may not be more profitable. We also look at the “trading trap”, otherwise known as weekly goal. You’ll see how to know when your emotions start to affect your trading. We explore behavioral analysis, the new paradigm in trading – and how one group is doing technical analysis on the trader, rather than the markets. You’ll see how the reward-to-risk ratio can create luck for you. And Darren and Walter create a one-sentence trading system – a very simple and powerful way to find, and exploit inefficiencies in the market. Should you use trading targets? Walter and Darren differ in their approach. Darren’s changing relationship with the weekend, as a trader. You’ll see how psychological pressures change as you advance as a trader. We explore where the giant leaps are made for traders, and it’s probably not where you think it is.