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EP70: Verification
Did you take the right trade? Will you pull a profit from this trade?
In this episode of 2Traders Podcast, Darren and Walter take a trip down the memory lane. Both recall how they validated their trading systems and market beliefs.
Because traders have a need to know that we are right, it can muddy your trading decisions — and is this need counter-productive for your trading? So, how do you know your system will pull profits from the constantly changing markets?
Walter offers methods to test your beliefs, and even the ubiquitous Martingale system makes an appearance in this episode.
Darren offers advice on finding your edge in the markets and how to make a difference with your trading results.
Download (Duration: 26:32 / 30.3 MB)
In this episode:
01:18 – try and validate
03:57 – extract money
05:39 – what else can people do?
06:47 – strategy tester
08:44 – robotic automated system
10:25 – outside perspective
11:47 – average trade
13:26 – outlier-type trades
16:31 – falling off the cliff
20:59 – the need to win
22:19 – verification
24:22 – flip your trades
25:41 – a bit smart
Tweetables:
Naturally, we all have this strong need to win. [Click To Tweet].
Verify your system by trading it in a simulator. [Click To Tweet].
Where is everyone going to lose their money next? [Click To Tweet].
Download The Full Episode 70 Transcript Here
Darren: To reach that point then, you have to use some unique thinking and I think that is what we all need to do at some point even if you are trading something that is a tried and tested approach. You need to have that little edge to how you are applying it and that will make all the difference, I think …
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. In this episode, Darren, we were thinking about doing something a little bit different. We are going to take this idea and talk about how that applies to your trading. So, how are you today, Darren?
Darren: I am good. I’m actually just pulling out the definition of the word so just I know that I am talking about the same thing you are.
Walter: Good. The good news is it probably does not matter. You can talk about how, what it means to you. The idea is that we are going to talk about verification. How does verification affect your trading?
One thing I could think of when I thought of this is, well, one thing that we do as traders is we try and validate or verify that our ideas are correct. One way that you do that is you would go onto the internet and look up whatever your idea is.
Your idea might be that when the market hits a moving average, it’s going to bounce off that.
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By Walter PetersDid you take the right trade? Will you pull a profit from this trade?
In this episode of 2Traders Podcast, Darren and Walter take a trip down the memory lane. Both recall how they validated their trading systems and market beliefs.
Because traders have a need to know that we are right, it can muddy your trading decisions — and is this need counter-productive for your trading? So, how do you know your system will pull profits from the constantly changing markets?
Walter offers methods to test your beliefs, and even the ubiquitous Martingale system makes an appearance in this episode.
Darren offers advice on finding your edge in the markets and how to make a difference with your trading results.
Download (Duration: 26:32 / 30.3 MB)
In this episode:
01:18 – try and validate
03:57 – extract money
05:39 – what else can people do?
06:47 – strategy tester
08:44 – robotic automated system
10:25 – outside perspective
11:47 – average trade
13:26 – outlier-type trades
16:31 – falling off the cliff
20:59 – the need to win
22:19 – verification
24:22 – flip your trades
25:41 – a bit smart
Tweetables:
Naturally, we all have this strong need to win. [Click To Tweet].
Verify your system by trading it in a simulator. [Click To Tweet].
Where is everyone going to lose their money next? [Click To Tweet].
Download The Full Episode 70 Transcript Here
Darren: To reach that point then, you have to use some unique thinking and I think that is what we all need to do at some point even if you are trading something that is a tried and tested approach. You need to have that little edge to how you are applying it and that will make all the difference, I think …
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. In this episode, Darren, we were thinking about doing something a little bit different. We are going to take this idea and talk about how that applies to your trading. So, how are you today, Darren?
Darren: I am good. I’m actually just pulling out the definition of the word so just I know that I am talking about the same thing you are.
Walter: Good. The good news is it probably does not matter. You can talk about how, what it means to you. The idea is that we are going to talk about verification. How does verification affect your trading?
One thing I could think of when I thought of this is, well, one thing that we do as traders is we try and validate or verify that our ideas are correct. One way that you do that is you would go onto the internet and look up whatever your idea is.
Your idea might be that when the market hits a moving average, it’s going to bounce off that.