In the second part of “A Storm of Stories” episode in 2Traders Podcast, Darren and Walter continue to delve into trading psychology, market decisions, and why it is important to consider the trader on the other side of your trade.

Walter also shares info on the psychological behavior called “fundamental attribution error” and how this can affect your trading. Darren also talks about lucky football jerseys and what it has to do with trading and why picking your lotto numbers is just like being a system trader.

Download (Duration: 24:13 /27.7 MB)

In this episode:

01:38 – mental exercise

03:44 – sharing ideas

05:08 – football players

07:46 – a freelance writer

09:49 – conscious awareness

11:41 – snap decision

12:23 – decisions comes with experience

13:48 – side effects of experience

17:30 – fundamental attribution error

18:51- internal emphasis

21:18 – take notice

23:40 – brainstorming

Tweetables:

Consider that somebody might take the opposite side of your trade. [Click To Tweet].

You need to have deep confidence in yourself. [Click To Tweet].

It’s about how you view the market. [Click To Tweet].

Download The Full Episode 65 Transcript Here

Walter: You think when you are a new trader, you want more indicators, more filters, more reasons, more ways to avoid making a wrong decision. And then, as you get more experienced, you get to this point where you can say “Alright, it is what I see and I trade what I see. Let’s go”…

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 Part Two. In this episode, what you are going to hear is Darren is talking about lucky football jerseys and what this has to do with trading. You will also hear about the lotto numbers, why picking your lotto numbers is just like being a system trader, who Darren wants to sit down with and why this person may be able to help out his trading quite a bit.

You’ll hear my story all about the Michelangelo art piece and one of our friends, a fund trader, his secrets to success is revealed in this episode. It is actually very simple and reasonable. Only few traders do it because it’s difficult to do but it’s very simple.

Then finally, why your friends are always better people than complete strangers and how this particular thinking mistake affects your trading, as well. All these in Part Two.

…I think you’re right. We can hang our hat on stories and we use those stories. We look for evidence that only supports those stories. So, what do we do?

My mental exercise that I like to employ for this is I will, essentially, go “Alright, if I’m taking this trade…” Like for example, as we record this, I sold the GBP/NZD so who would be buying the GBP/N...