Why do people feel the need to bring others down?? Is this our basic human psychology?

In this episode of 2Traders Podcast, Darren and Walter dig into a compelling question for traders and non-traders alike: why do hardened traders feel the need to intimidate other traders — especially newbies?

The two traders also tackle the different factors influencing your trading mindset such as ego, “trading stereotypes”, information overload, and online trading communities.

Also, you might find here an interesting idea on how Halloween costumes can help your trading psychology.

Download (Duration: 27:53 /31.9 MB)

In this episode:

01:03 – downhill approach

03:20 – crazy system

05:27 – bloody-minded confidence

06:57 – trader specification

08:26 – Halloween costumes

10:34 – a strong ego

12:42 – identity crisis

15:32 – pretty, wacky and wild ideas

18:03 – a very solitary thing

19:44 – authority figure

23:41 – ego competition

25:21 – internet pros

27:13 – consider your words

Tweetables:

Fact: trading is a solitary life. [Click To Tweet].

Who do you feel comfortable with? [Click To Tweet].

You need to have that single-minded trading confidence. [Click To Tweet].

Download The Full Episode 63 Transcript Here

Walter: I think that it’s a mistake to look at someone else and say “Well, it works for trader Ed so I’m going to do what he does”. I just think that’s a big mistake. I think you can draw some confidence by trying to follow what someone else does but, in the end, it is not going to last…

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: Hey, Darren. Welcome to the Two Traders Podcast. How are you?

Darren: Very good. Thanks, Walter.

Walter: We are going to talk about this idea and a lot of people, probably listeners, don’t think that this is something that they necessarily do. I just find it fascinating, this idea — and it’s often on forums where you will see… Typically, what will happen, Darren, is someone will come on, they’ll show people what they’re doing, their trading system, their approach, how they’re making money, and then it’s all downhill from there.

You get a few people come in and go “Yeah, that is just great. I am going to try it out”. Eventually, some people will come in and just go “There’s no way this will work. Your reward/risk ratio is all off” or “You don’t have enough trade” or whatever, all these reasons why it won’t work.

To me, it is so obvious what is going on which is the people who are the naysayers, they just do not connect with the system. That’s it, that’s all it is. It has nothing to do with whether or not the original poster is “that trader is making money”. It has everything to do with the fact that the ot...