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SteadyTrade

Ep 167: Hard Trading Truths With Dr. Daniel Crosby

SteadyTrade

SteadyTrade.com

Business, Education, Investing

4.6589 Ratings

🗓️ 29 September 2020

⏱️ 49 minutes

🧾️ Download transcript

Summary

This week’s episode of SteadyTrade starts with a discussion about an important bear.No, not a bearish investor ... but Winnie the Pooh. The famed character once wisely advised, “Don't underestimate the value of doing nothing…”This week’s guest, Dr. Daniel Crosby, is a big fan of this wisdom. He offers up what may seem to be counterintuitive advice for traders — if you want to become a consistent trader, you may actually need to do less.This might seem crazy to some traders — after all, more a...

Transcript

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0:00.0

So the first thing I would tell them to do is to lean into that fear a little bit.

0:07.0

Now this is a little bit, this is why I was a crappy psychologist, right?

0:11.0

This is why I had to think of, but like, if you're, if you're listening to this and going, wow, like, you know, maybe I'm not cut out for this.

0:20.0

Maybe this is tougher than I thought. Like, you're right. It's super tough. Like, you know, most people are not very good at this. And there's like a lot, there's a lot of broken dreams and a lot of sad people. So like, mean into that a little bit. Embrace that mediocrity. Understand your own personal weaknesses, and own that, right?

0:40.5

So that's, tip of number one is you're not that great, kid.

0:46.2

You're listening to the Steady Trade Podcast.

0:50.7

A podcast that inspires traders to make meaningful strides and pursue their passions.

0:57.1

Your hosts are Tim Bowen, the lead trainer at Stocks to Trade Pro, Kim Ann Curtin, the Wall

1:03.2

Street coach, and Stephen Johnson, the up-and-coming trader who's always willing to learn.

1:08.9

Together, we'll sit down with experts to talk about their process, the lessons they've

1:13.8

learned, and discuss how all traders can level up their trading careers.

1:22.3

Welcome back, everybody, to the Steady Trade podcast.

1:25.9

Today, it's Steven Johnson and myself Kim Ann Curtin

1:29.3

with a really cool guest that I'm so excited about because I happen to love this man's book.

1:35.3

Daniel Crosby, Dr. Daniel Crosby. He is a psychologist and behavioral finance expert

1:42.3

who helps organizations understand the intersection of the

1:45.5

mind and the market. His first book was Personal Benchmarks, Integrating Behavioral Finance and

1:53.2

Investment Management, and it was a New York Times bestseller. And his second book, The

1:57.4

Laws of Wealth, was named the Best Investment Book of 2017 by Axiom Business

2:04.1

Book Awards, and it's been translated into five language, which is a very rare thing.

2:09.5

I can tell you that.

2:11.0

His latest book is called The Behavioral Investor, and if you are in any manner, shape,

...

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