In this episode of 2Traders Podcast, Darren and Walter examine a “trader’s life.” Topics include: fundamental vs technical analysis (the pros and cons of each approach), confirmation bias, and how a newbie traders and old salty traders “see” trading systems differently.

According to Walter, academic studies don’t really determine a person’s success, and often, winning can be attributed to just being “lucky.”

You’ll also learn how news is manipulated by “big money” whether the gold price is related to weddings in India.

Download (Duration: 26:02 /29.7 MB)

In this episode:

00:46 – at first glance

01:47 – stories have powers

02:16 – the parallels with trading

06:24 – dominant theory

09:53 – locking people in

11:49 – an idea

13:26 – read it

16:06 – the strangest thing

17:00 – information overload

18:02 – off-limits

19:24 – what affects the gold price

21:00 – weed-out crap story

22:54 – a no brainer

24:41 – wrong direction

Tweetables:

If you win or lose, it’s just luck. [Click To Tweet].

Why are people trading the way that they do? [Click To Tweet].

Be careful how you tread with fundamentals. [Click To Tweet].

Download The Full Episode 64 Transcript Here

Darren: So, my whole point is that, if something is really popular and seems successful, then we know that a lot of people are going to get drawn into trading that way and rather than going along with it, should we be looking for opportunities to go against them..  

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 to the Two Traders Podcast. Walter here and Darren. Today, Darren, we will talk about a really interesting topic that may not seem related to trading at first glance. What are we going to talk about today?

Darren: We are going to talk about — well, the idea comes from a book, from Jonathan Gottschall who’s written a book called “The Storytelling Animal”. Basically, the book is about human beings and how we cannot really operate without a story.

I’ve got a little excerpt from the book here that I want to read and it explains it better than I could. He says:

“… Human beings lived inside the storm of stories. We live in stories all day long, we dream in stories all night long. Stories of how we communicate with each other is how we connect with each other, how we learn, how we think. Without stories to organize your experience on earth, you’d experience your life as a blooming, buzzing confusion. It would all be sound in fury, it would signify nothing, stories you picked with us, story is powerful. Nothing in human experience rivets attention, hooks human attention,