Naturally, we love it when things go our way. However, basking in your success may not be healthy for your trading.

In this episode of 2 Traders Podcast, Darren and Walter shed some light on the subject of seizing fortunate trades, popping the market bubble, and building your trading confidence.

How long can you be right? How long can you stay lucky? According to Walter, those questions are essential when examining your winning streaks. Darren advises to trust your instinct and take a close look at the edge for your system.

Also, in this episode, you’ll hear about the entrepreneur with a weird approach to buying and selling – he used his skill to move into a Hollywood-star house near Malibu. You can use this scheme in your trading as well.

Download (Duration: 27:24 / 31.3 MB)

In this episode:

00:53 – seize the moment

02:51 – a gut thing

04:29 – three months into it

05:52 – bizarre events

07:22 – tail of lucky streaks

10:08 – discretionary decision

11:02 – a mental switch

13:44 – major catastrophes

14:23 – the real monster

16:03 – what’s always true?

19:28 – it’s a different world

21:37 – hyperbolic discount

23:30 – find that edge

25:09 – least comfortable

26:02 – greed and ego

Tweetables:

Sell the trade, get out. [Click To Tweet].

Listen to your gut every now and then. [Click To Tweet].

When in doubt, take the trade that’s least comfortable to you. [Click To Tweet].

Download The Full Episode 67 Transcript Here

Walter: How long can you stay lucky? How long can you keep running the table and keep rolling these…

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. Darren, today we are going to talk about what happens when things are going really well with your trading. What are your thoughts on this?

Darren: I have heard quite a few experienced traders with a long track record and a lot of experience in trading. One of the key things in trading is to be able to seize the moment and know when the opportunities are really good and go all in.

A bit like a poker player would do, I suppose. I’ve been thinking about this personally. The last three months of my trading have been going very well. The temptation for me is I am in a zone at the moment.

I can’t put one reason why it is going particularly well. It is a combination of things: the right market condition, I am making good decisions, maybe a little bit lax in my way as well. Maybe my strategy right at this moment is particularly suited for the market conditions.

The question is when this happens should we, in that moment, should we go all in at our risk and try to capitalize on the current conditions? Or,