The markets move trillions of dollars every single day… but what if everything traders believe about “the algorithm” is completely wrong?
Full episode + show notes: https://tradingnut.com/paul-scott-2/
[06:47] “Prices, markets, ranges will have different values over time. Depends on what’s going on.”
[09:45] “That’s why people are still sitting there at a desk. That’s why they still employ traders, because traders have what? A brain.”
[11:18] “All markets are driven by human intent.”
[11:47] “If enough people think the same way as you, well then there’s no point in selling when everybody’s shouting buy, and there’s no point in buying when everybody’s shouting sell.”
[18:25] “The minute you say, ‘I think,’ you have screwed yourself.”
[19:34] “The market has made its mind up about what the decision is about the current value.”
[19:47] “As institutional traders, you’re hunting for liquidity.”
[21:18] “If you trade with your ego and you think that, ‘Oh, I’m better than the market,’ that’s not going to make any bloody difference whatsoever.”
[21:42] “The market will do what it wants to do, regardless of whatever the hell you do.”
[21:57] “Reading the tape is essentially getting in a time machine, coming back down to a trading floor when it’s all open outcry and witnessing what goes on.”
[23:08] “A key decision-making place on a chart — has there been a decision that’s been made there previously?”
[23:40] “You need to understand what did the market think the value was of this particular price.”Watch on YouTube: https://www.youtube.com/watch?v=qsy5RoxATME
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