The markets move trillions of dollars every single day… but what if everything traders believe about “the algorithm” is completely wrong?
In this episode, former trading floor professional Paul Scott breaks down one of the biggest myths in modern trading — the idea that the entire market is controlled by one giant algorithm. From institutional execution algos to the raw human emotion that still drives price movement, Paul reveals what really happens behind the scenes on professional trading floors.
You’ll hear wild stories of million-dollar losses in seconds, why AI can’t truly think like a trader, and how human perception — not some all-powerful machine – is what actually moves the market. If you’ve ever wondered whether the market is manipulated, controlled by banks, or run by a “giant algorithm,” this conversation is going to challenge everything you thought you knew about trading.
Paul Scott’s Link
Podcast Interview
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CLAIM YOUR OFFERS →Key Lessons
[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.”
[24:50] “Look how the market’s been reacting… over and over and over again. It gives you super confidence.”
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