Traders Mastermind

Trading’s a pretty unique business…

No staff, customers or huge overheads. But the potential to grow exponentially.

Pretty good.

But can we learn anything from the traditional business world? 

What strategies and tactics can we model and deploy in our own trading?

In this episode, I discuss different ways to think about your trading business and how to use some of the traditional business world tactics in our unique sector.

PS: Have you signed up for my daily email yet? 

It’s designed to help you cultivate discipline, momentum and consistency in less than 3 minutes per day.

How comfortable are you with losing?

No, really!

Because we all know we should fit our strategy to our personality, but how often do we consider the expected win rate of the strategy and its impact on our emotions?

Some traders are happy to sit through loser after loser knowing they’ll get a big pay out soon enough.

Others start meddling and getting concerned with three losers in a row!

In this episode I discuss the merits of picking a strategy that has an expected win rate to match your personality type.

How you can determine what’s comfortable for you and picking the perfect strategy to align with your strengths.

In this developing trader series episode, I speak to Chris D, a day trader from the UK who finally found his perfect trading style after years of struggling.

We discuss:

• Why switching from the DOW to the FTSE was his best-ever decision
• What trading strategies he currently deploys
• His extensive (punishing?!) pre-market routine
• Non-negotiable rules 
• His obsession with data gathering and how it supports his decision making
• Chris’ current scaling-up challenge

And more.

This was a great conversation with a trader who just would not quit!

His perseverance and grit have allowed him to discover a trading strategy that works for him.

If you have been trading for a while but aren’t quite where you want to be, this episode is a must-listen.

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“The grass is always greener on the other side”

Never a truer word has been spoken in trading!So many traders are seduced by the latest big thing, a strategy, a market a methodology. (guilty!)It may have merit, and it may well find a way into your trading edge at some point.

But fix the holes in your trading business first…

Adding another thing to master and learn just takes away from what you are working on.

Be strict with yourself.

Collect all the info and resources, then shelve it for a later date. No distractions or backsteps.

You’re already on a mission, don’t let yourself be derailed.

You’ve seen the guy on the golf course, new top-spec clubs, fully kitted out, gets on the first tee… shanks it!

Trading is similar.

But in trading, the ‘gear’ is knowledge.

Too many traders know much about the markets but fail to apply it…

Overcomplicating, overthinking and trying to outsmart the market each day.

Trading is not the arena to be smart. Simple, consistent execution is the key.

In this episode, I talk about how to simplify your trading. Ways to mentally unlock that urge to overcomplicate, overtrade, and overthink your trades.

We’ve all been there, your equity curve looks amazing, you feel pretty pleased with yourself, trading has been going well. But all of a sudden things take a turn for the worse. You start to drawdown heavily and you wonder what happened.

You’d give anything to get yourself back to equity highs. To get that feel good factor back.

But watch out for the trap!

That’s the fork in the road that catches most traders out.

But not you…

In this episode I discuss practical strategies to help you recover from drawdown.

Stress is good.

Yep I said it, a certain level of stress is good, it keeps you alert and moving forward. It stops you being complacent.

But too much can affect trading performance, badly. And no one wants that!

In this episode I explore what you can do to manage stress as a trader to keep you performing at your best all year round.

Let’s face it, we’ve all had those moments where we’ve wanted to throw in the towel and start over.

And that’s okay!

In this episode, I’ll show you how to wipe the slate clean and start fresh - without having to burn down your trading station...

I’ll discuss practical strategies for starting over, such as reevaluating your goals, creating a new plan, and letting go of past failures. We will also explore the mental and emotional aspects of starting again, and how to develop the mindset needed for success.

Traders love technical analysis, but as soon as you start talking about macro themes everyone switches off!

But, big money moves markets and big money loves macro… So it makes sense to have a basic understanding of how and why these bigger players are making decisions to trade.

Right?!

In this episode I ask macro expert Michael Brown, ex FX Dealer and now market analyst at TraderX to explain the foundations of macro economics.

“Keep it super simple” I told him.

“Lets go back to basics so traders can understand what’s going on and build an edge around it”

That’s exactly what we did.

In this episode I asked Michael questions like:

• What really is inflation?
• What are the institutions looking at?
• What actually triggers an institution into placing a trade?
• Where’s the opportunity right now?
• How does a retail trader pick a market to trade?
• How can a trader plan and prepare to trade a data release?

& much more.

If you’ve always wanted to learn a bit about macro basics and how you can use that knowledge to your advantage then this is well worth a listen.

Please enjoy!

See more of Michael on Twitter @MrMBrown and at Traderx.com

The episode explores how understanding the concept of the Stockdale Paradox, named after James Stockdale, a US Navy pilot who was held as a prisoner of war in North Vietnam, can help traders achieve success.

The Stockdale Paradox is a combination of two attributes.

1. An honest assessment of the current reality
2. An unwavering belief in ultimate success.

This seemingly contradictory attitude can help you tackle the immediate road-blocks in your trading and yet stay motivated and focused on the overall vision.