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EP24: Uncertainty
Darren and Walter dig into uncertainty in this episode, and the merits of numbers, calculations and probabilities for traders.
Walter explores the idea of using a calculation to determine the efficacy of a strategy, while Darren is not too sure about quantifying these things when the markets change and traders often don’t follow their trading systems.
Darren talks about a scientific study on maids, and why focusing on the logic of your trading system may free you from mistakes. Particularly when you notice how win rates and equity curves fluctuate with market moods.
Walter explains his fascination with an “always in the market” trend following fund in Florida… and the interesting way Ed Seykota pitches his fund.
Finally, Walter and Darren agree on the one key piece all successful traders need, regardless of what their trading system “numbers” happen to be.
http://media.blubrry.com/2traders/content.blubrry.com/2traders/2Traders_-_EP24_Uncertainty.mp3
Download (Duration: 30:22 / 34.7 MB)
In this episode:
00:35 – big fat pot of profit
03:20 – expectations is the real problem
05:10 – a book about traders making a mistake
07:16 – placebo effect
11:09 – do we create our future by thoughts?
12:59 – methodical and less quantitative
15:41 – all about method
18:21 – they shouldn’t be trading
19:20 – Dunn Fund (the trend trading guy)
22:23 – the danger of giving too much weight on numbers
26:29 – trend trading is dead?
Tweetables:
If your expectations are too good, then that can have a negative effect. [Click To Tweet].
If your mindset is right, the results will be different. [Click To Tweet].
Having the numbers alone is not enough. [Click To Tweet].
Download The Full Episode 24 Transcript Here
Darren: Just the numbers on their own is not enough without the mindset. I think when you get the mindset you rely less and less on the numbers.
Announcer: 2 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: Welcome back to the 2Traders podcast, I’m Walter Peters. I’ve got Darren here on the line. Hey there, Darren. How are you today?
Darren: I’m really good, Walter.
Walter: Darren, I talked about this in the last episode. I was thinking about exploring this idea of a quantitative number or ratio that essentially tells you, yes or no, are you going to make it as a trader? I think this is going to be interesting because I’m not sure we exactly had the same points of view. One of the reasons why this number I think is useful for traders is because some traders just need to have numbers.
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By Walter PetersDarren and Walter dig into uncertainty in this episode, and the merits of numbers, calculations and probabilities for traders.
Walter explores the idea of using a calculation to determine the efficacy of a strategy, while Darren is not too sure about quantifying these things when the markets change and traders often don’t follow their trading systems.
Darren talks about a scientific study on maids, and why focusing on the logic of your trading system may free you from mistakes. Particularly when you notice how win rates and equity curves fluctuate with market moods.
Walter explains his fascination with an “always in the market” trend following fund in Florida… and the interesting way Ed Seykota pitches his fund.
Finally, Walter and Darren agree on the one key piece all successful traders need, regardless of what their trading system “numbers” happen to be.
http://media.blubrry.com/2traders/content.blubrry.com/2traders/2Traders_-_EP24_Uncertainty.mp3
Download (Duration: 30:22 / 34.7 MB)
In this episode:
00:35 – big fat pot of profit
03:20 – expectations is the real problem
05:10 – a book about traders making a mistake
07:16 – placebo effect
11:09 – do we create our future by thoughts?
12:59 – methodical and less quantitative
15:41 – all about method
18:21 – they shouldn’t be trading
19:20 – Dunn Fund (the trend trading guy)
22:23 – the danger of giving too much weight on numbers
26:29 – trend trading is dead?
Tweetables:
If your expectations are too good, then that can have a negative effect. [Click To Tweet].
If your mindset is right, the results will be different. [Click To Tweet].
Having the numbers alone is not enough. [Click To Tweet].
Download The Full Episode 24 Transcript Here
Darren: Just the numbers on their own is not enough without the mindset. I think when you get the mindset you rely less and less on the numbers.
Announcer: 2 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: Welcome back to the 2Traders podcast, I’m Walter Peters. I’ve got Darren here on the line. Hey there, Darren. How are you today?
Darren: I’m really good, Walter.
Walter: Darren, I talked about this in the last episode. I was thinking about exploring this idea of a quantitative number or ratio that essentially tells you, yes or no, are you going to make it as a trader? I think this is going to be interesting because I’m not sure we exactly had the same points of view. One of the reasons why this number I think is useful for traders is because some traders just need to have numbers.