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EP61: Trading Execution
Do you know what you really want? Do you have an intense desire to win? Why do many traders want to feel like a winner?
In this episode of 2Traders, Darren and Walter dig into the issues that traders bump into when it comes to interacting with the market, including issues with trade execution, loss aversion, and information overload. The two traders also tackle an important psychological phenomena called the “recency effect” and how this can affect the decisions that you make.
Also, you’ll know in this podcast how building a stadium for a champion football team may actually help you realign your trading beliefs and goals.
Download (Duration: 19:29 /22.2 MB)
In this episode:
01:12 – uncertain endeavors
02:46 – a new stadium
04:21 – information overload
05:26 – human error
07:48 – pick and choose
09:01 – redefining yourself
11:47 – embracing the unknown
13:29 – a dramatic difference
15:01 – “why?”
18:22 – journaling lessons
Tweetables:
You have to find your groove and just do it. [Click To Tweet].
Celebrate the wins, feel bad about the losses and let it go. [Click To Tweet].
Why must you feel like a winner? [Click To Tweet].
Download The Full Episode 61 Transcript Here
Walter: You know that moment when you get into a trade, or you’ve decided you are going to take a trade, and you have no idea what is going to happen? You have no feedback from the market, you are in the trade and you are just about to execute the trade. I think embracing that feeling of the unknown is really a good idea…
Announcer: Two Traders, Darren and Walter, pull back the curtain on profitable trading systems, consistent money management, and profitable psychological triggers. Welcome to the Two Traders Podcast.
Walter: Welcome back to Two Traders. It’s Walter here. Hello, Darren.
Darren: Good evening, Walter.
Walter: We are going to talk about traders and the issues that some traders have with execution. I have to say that I think all of us have these issues but where are these issues coming from, Darren? Where do this execution problems — if you can call them that — where do they come from?
Darren: I suppose ego’s probably in there, isn’t it? Fear is definitely going to be in there and greed is going to be in there. In trading, we suffer from those emotions more than in a lot of uncertain endeavors. But I think, really, we want to be right, don’t we?
Is that loss aversion before we’ve even enter the trade? I think we often get ourselves set up with the wrong mindset. We may well know that we can have losing trades but we may have a lot of experience of trading and having losing trades but it’s still very hard to deal with losses.
I think loss aversion is one of the biggest problem for traders and the best way to deal with it is to accept that it exist. Perhaps journaling about your losses, seeing them for what they are and seeing that they are not really s...
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By Walter PetersDo you know what you really want? Do you have an intense desire to win? Why do many traders want to feel like a winner?
In this episode of 2Traders, Darren and Walter dig into the issues that traders bump into when it comes to interacting with the market, including issues with trade execution, loss aversion, and information overload. The two traders also tackle an important psychological phenomena called the “recency effect” and how this can affect the decisions that you make.
Also, you’ll know in this podcast how building a stadium for a champion football team may actually help you realign your trading beliefs and goals.
Download (Duration: 19:29 /22.2 MB)
In this episode:
01:12 – uncertain endeavors
02:46 – a new stadium
04:21 – information overload
05:26 – human error
07:48 – pick and choose
09:01 – redefining yourself
11:47 – embracing the unknown
13:29 – a dramatic difference
15:01 – “why?”
18:22 – journaling lessons
Tweetables:
You have to find your groove and just do it. [Click To Tweet].
Celebrate the wins, feel bad about the losses and let it go. [Click To Tweet].
Why must you feel like a winner? [Click To Tweet].
Download The Full Episode 61 Transcript Here
Walter: You know that moment when you get into a trade, or you’ve decided you are going to take a trade, and you have no idea what is going to happen? You have no feedback from the market, you are in the trade and you are just about to execute the trade. I think embracing that feeling of the unknown is really a good idea…
Announcer: Two Traders, Darren and Walter, pull back the curtain on profitable trading systems, consistent money management, and profitable psychological triggers. Welcome to the Two Traders Podcast.
Walter: Welcome back to Two Traders. It’s Walter here. Hello, Darren.
Darren: Good evening, Walter.
Walter: We are going to talk about traders and the issues that some traders have with execution. I have to say that I think all of us have these issues but where are these issues coming from, Darren? Where do this execution problems — if you can call them that — where do they come from?
Darren: I suppose ego’s probably in there, isn’t it? Fear is definitely going to be in there and greed is going to be in there. In trading, we suffer from those emotions more than in a lot of uncertain endeavors. But I think, really, we want to be right, don’t we?
Is that loss aversion before we’ve even enter the trade? I think we often get ourselves set up with the wrong mindset. We may well know that we can have losing trades but we may have a lot of experience of trading and having losing trades but it’s still very hard to deal with losses.
I think loss aversion is one of the biggest problem for traders and the best way to deal with it is to accept that it exist. Perhaps journaling about your losses, seeing them for what they are and seeing that they are not really s...