#103 Mark & Steve: Working With Your Ego

 

Trading legend Marty Schwartz aka Pitbull said, "the most important change in my trading career occurred when I learned to divorce my ego from the trade."

The ego gets a bad wrap in trading, often seen as the enemy. But is this the right way to look at it? 

The ego is very much part of us, part of who we are, part of our nature, our soul. How can it be the enemy? That makes us the enemy.  And yet, often it feels like it is, with its ability to act in ways which are malicious and malign.

Learning to understand your ego, and how it works, may be a more productive way forward than trying to ignore it, or shut it down.

In this episode, we explore the ego, its impact on you and your trading, and how better to understand it, and work with it, rather than to fight yourself, with all the mental and physical costs that entails. 

🎧 Audio: Listen Here
📺 YouTube: Listen Here

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 AlphaMind Podcast Sponsoring Partners

TradeStation Global is a multi-asset trading platform with access to international markets. Trade Stocks, Forex, Futures and Micro e-Mini Futures from one account. Leverage professional-grade tools like RadarScreen®, The Matrix, and EasyLanguage® an intuitive coding language for traders.

With TradeStation Global there are no hidden price spreads - just transparent, low commissions. Click here to find out more and open an account.

TradeStation International Ltd, authorized and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom, acts as an Introducing Broker to Interactive Brokers (U.K.) Ltd. The firm does not provide investment advice or trading recommendations. Investment and trading involve risks, including possible loss of principal. 

TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. At present, the TradeStation Global product is not available to EU residents.

The Society of Technical Analysts provides world beating technical analysis education programmes and offer outstanding membership services with regular talks and meetings. Their Home Study Course is based on the Diploma Programme they deliver at the London School of Economics and has been created by many of the leading minds in the field of technical analysis. 

AlphaMind Podcast listeners can obtain a 10% discount on the Society of Technical Analysts world-beating Home Study Course at this link.

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AlphaMind Podcast #104 Jonathan Baird: Macro Fundamentals and Trading

Since the introduction of the Zero Interest Rate Policies, by central banks, in the wake of the Global Financial Crises (GFC), Macro has largely taken a back seat, until last year that was when macro came screaming back.

An entire generation of traders, baptised in markets in the more than a decade since the GFC, had little or no knowledge of just how much influence macro fundamentals can bring to bear on markets. 2022 proved a rude awakening for many of them.

Macro traders position themselves to take advantage of, and react to, rate and currency moves, and market valuations, based on inflation data and central bank rate policies.

Hedge funds who rely on discretionary macro strategies saw some astonishing returns in 2022. Said Haidar’s $4.3 billion discretionary macro fund achieved close to 200%. Bluecrest Capital Management, a $30 billion fund, achieved returns of over 150%, an even greater achievement given its size. Crispin Odey’s $4 billion fund, almost matched Bluecrest, producing his best return in almost 3 decades in the business. And many other funds saw their discretionary macro traders massively outperform the market.

Macro is likely to remain a prominent a theme for markets this year and beyond, even if we don’t quite see the same degree of moves, nor the same levels of volatility, which 2022 brought.

In light of this, we invited back a friend of the AlphaMind podcast, Jonathan Baird, to explore how to use and view the macro, and how to factor it in to your market analysis, and trading or investing approach.

Jonathan is an award-winning money manager based in Canada, and author of the superb Global Investment Letter.

Jonathan often posts his thoughts on social media, you can follow Jonathan on Linkedin here, and Twitter here.

🎧 Listen here: https://bit.ly/Baird2023

📺 YouTube Audio here: https://bit.ly/Baird2023YT

____________________________________________________________________

AlphaMind Podcast Sponsoring Partners

TradeStation Global is a multi-asset trading platform with access to international markets. Trade Stocks, Forex, Futures and Micro e-Mini Futures from one account. Leverage professional-grade tools like RadarScreen®, The Matrix, and EasyLanguage® an intuitive coding language for traders.

With TradeStation Global there are no hidden price spreads - just transparent, low commissions. Click here to find out more and open an account.

TradeStation International Ltd, authorized and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom, acts as an Introducing Broker to Interactive Brokers (U.K.) Ltd. The firm does not provide investment advice or trading recommendations. Investment and trading involve risks, including possible loss of principal. 

TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. At present, the TradeStation Global product is not available to EU residents.

The Society of Technical Analysts provides world beating technical analysis education programmes and offer outstanding membership services with regular talks and meetings. Their Home Study Course is based on the Diploma Programme they deliver at the London School of Economics and has been created by many of the leading minds in the field of technical analysis. 

AlphaMind Podcast listeners can obtain a 10% discount on the Society of Technical Analysts world-beating Home Study Course at this link.

Newsletter

Subscribe here

#98 Tom Basso: Market Wizard's Mr Serenity

Tom Basso first came to prominence when he was featured in Jack Schwager’s second Market Wizards book “New Market Wizards”. His chapter is called Mr Serenity. In the introduction to the interview with Tom, Jack, made a point of saying, that “although Tom’s results are significantly better than the industry average, they were ‘hardly extraordinary’. And yet, ‘Jack says, “in an important sense, Basso is perhaps the most successful, trader I have ever interviewed.” This success Jack Schwager referred to, stemmed from Tom’s ability to make money, and yet remain calm, centred and completely balanced, living the life he wanted to live, and doing the things he wanted to do, without it being dictated by the market, or his ego’s response to the market.  

As you will hear in this interview, very little has changed. Tom has achieved extraordinary success, both financially, and in the way he has lived his life. And, if we are honest, trying to get both of these to happen together is an extraordinary feat. 

You will enjoy this interview and will learn so much that is important to consider, when taking and managing risk, and remaining in control, in a way which allows you to ‘enjoy the ride’. 

You can find out more about Tom at this website: https://enjoytherideworld.odoo.com/

And on Twitter: https://twitter.com/basso_tom

🎧 Audio Here

📺 YouTube Here

AlphaMind Podcast Sponsoring Partners

TradeStation Global is a multi-asset trading platform with access to international markets. Trade Stocks, Forex, Futures and Micro e-Mini Futures from one account. Leverage professional-grade tools like RadarScreen®, The Matrix, and EasyLanguage® an intuitive coding language for traders.

With TradeStation Global there are no hidden price spreads - just transparent, low commissions. Click here to find out more and open an account.

TradeStation International Ltd, authorized and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom, acts as an Introducing Broker to Interactive Brokers (U.K.) Ltd. The firm does not provide investment advice or trading recommendations. Investment and trading involve risks, including possible loss of principal. 

TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. At present, the TradeStation Global product is not available to EU residents.

The Society of Technical Analysts provides world beating technical analysis education programmes and offer outstanding membership services with regular talks and meetings. Their Home Study Course is based on the Diploma Programme they deliver at the London School of Economics and has been created by many of the leading minds in the field of technical analysis. 

AlphaMind Podcast listeners can obtain a 10% discount on the Society of Technical Analysts world-beating Home Study Course at this link.

Newsletter

Subscribe here

AlphaMind Podcast #91 Oliver Kell - US Trading Champion 2020: The Journey to Trading Mastery

OIiver Kell won the 2020 US stock trading champion with an astonishing return of 941%, almost double the return of the second-place competitor. However, there is a lot more to Oliver than just great trading, his success is born of a deep humility and a huge respect for risk and the market. And as you listen to him, you may be surprised to notice how his process and success is built upon a foundation of high-risk aversion allied to a deep passion for what he does.

In this episode Oliver opens about his trading, his background and what he feels it takes to achieve mastery in trading. Oliver is a great advert for the small retail trader taking on the Wall Street giants and coming out on top. 

You can find out more about Oliver, including an excellent book he has written called ‘Victory in Stock Trading’ where he shares some of his strategies, developed through trial and error over more than a decade at https://www.kelltrading.com, and can follow him on Twitter at https://twitter.com/1charts6

Listen 🎧 https://bit.ly/3t58rOM

View 📺 https://bit.ly/3O2zC5d

AlphaMind Podcast Sponsoring Partners

TradeStation Global is a multi-asset trading platform with access to international markets. Trade Stocks, Forex, Futures and Micro e-Mini Futures from one account. Leverage professional-grade tools like RadarScreen®, The Matrix, and EasyLanguage® an intuitive coding language for traders.

With TradeStation Global there are no hidden price spreads - just transparent, low commissions. Click here to find out more and open an account.

TradeStation International Ltd, authorized and regulated by the Financial Conduct Authority (“FCA”) in the United Kingdom, acts as an Introducing Broker to Interactive Brokers (U.K.) Ltd. The firm does not provide investment advice or trading recommendations. Investment and trading involve risks, including possible loss of principal. 

TradeStation®, EasyLanguage® and the other company trademarks in the TradeStation platform are owned by TradeStation Technologies, Inc., a technology research and development company affiliated with TradeStation International Ltd. At present, the TradeStation Global product is not available to EU residents.

The Society of Technical Analysts provides world beating technical analysis education programmes and offer outstanding membership services with regular talks and meetings. Their Home Study Course is based on the Diploma Programme they deliver at the London School of Economics and has been created by many of the leading minds in the field of technical analysis. 

Alphamind Podcast listeners can obtain a 10% discount on the Society of Technical Analysts world-beating Home Study Course at this link.

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