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In this episode of the Market Mamas podcast, futures day trader and host Becky Gaskell welcomes Will Young, a seasoned investor and long-term disciplined trader. Will shares his foundational philosophies for surviving and thriving across market cycles. The conversation centers on the psychological traps of trading - like the paralyzing fear of regret - and the strategic necessity of disciplined planning and preparedness. 

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Key Topics:

• Market Speed & Cycles: The rapid pace of modern technological shifts and how quickly market leadership and stock valuations can revert.

• The Discipline of Letting Go: The necessity of being agile and smart enough to quickly exit underperforming positions before losses escalate.

• The Long-Term Plan: Will Young's mandatory rule of having a written, shared plan covering 3, 6, 9, and 12 months to navigate inevitable market volatility.

• The Preparation Rule: The number one rule for success: always be prepared by actively trimming winning positions to build cash reserves for buying opportunities during downturns.

• Avoiding Regret (The Psychological Edge): How having cash prevents traders from making emotional decisions, such as selling losers under duress, which is the primary source of market regret.

Episode Highlights and Timestamps:[00:00:00] –  Intro

[00:05:30] – Recommendation to use Bayesian probabilities (math over magic) to determine outcomes, and a strong caution against day trading options, which is likened to gambling.

[00:08:56] – The challenge of political figures making market-moving statements to help friends, leading the speaker to keep more cash available for strategic entry points.

[00:12:28] – The use of Sentiment Trader for high-probability, math-based trading decisions on indexes, emphasizing the goal of "pay the discipline tax today to get the freedom dividend in the future".

[00:18:06] – The necessity of writing down thoughts to overcome the illusion of information adequacy bias and the commitment required to compete at the market's highest level.

[00:27:59] – An extended analogy comparing the unpredictable nature of trading to surfing, emphasizing the need to be present, control one's own actions, and use stop losses as critical protections.

[00:36:05] – The importance of taking a win and walking away after a windfall or loss to maintain peace of mind, and the practical strategy of making most trading decisions in the first 30 minutes of the day.

[00:43:57] – The value of having cash available to take advantage of "unknown unknowns" - good stocks that fall cheaply after a bad event by doing homework ahead of time.

🔗 Follow Guest WiLL Young:

👉 Website: http://willryoung.com/

👉 YouTube: https://www.youtube.com/@WiLLRYoung

👉 Email: [email protected]

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