If you’re wanting a frank discussion about everything trading psychology, then this is the show for you!
I sit down with my first proper trading mentor, Andre Stewart, and pick his brain on money mindset, FOMO, patience, discipline and the dreaded “revenge trading”.
If you don’t know Andre’s back story, I suggest taking a listen these episodes from my old podcast 52 Traders (Experiment + Results, 52T-88, 52T-144) and the new ones here on Trading Nut (TN-1 and TN-24). I’m sure you’ll agree, he’s had quite the journey!
Now, let’s continue it…
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[06:51] Most people don’t focus on what trading actually is and it’s just about money.
[10:07] I was scalping mainly because I wanted to make money fast.
[14:36] Trading is not about how much money I can make, it’s about how much money I don’t lose.
[15:33] Traders are always infatuated with the legends of trading.
[17:35] It’s all about entering into a trade where the relationship between reward and risk heavily favors reward.
[23:53] As a trader, literally you are paid to wait.
[27:09] If you understand price from a non-biased perspective, you can manage your expectations in your own head.
[32:46] Another thing, that people don’t do what they want to do and don’t say what they want to say, is because they care about what other people are going to say and how you gonna feel about it.
[35:51] If you are struggling trading, the best thing you can do is get some backtesting software.
[36:36] I consider trading like a sport.
[38:40] Remember trading is really 10% technical and 90% mental.
[42:28] When you’re away from the charts, you’re not a trader. I don’t check MetaTrader from my phone. I don’t even check my back accounts from my phone.