TWIST 18 - Trading and Ego: What Makes Traders Lose
SteadyTrade
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4.6 • 589 Ratings
🗓️ 25 July 2019
⏱️ 11 minutes
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| 0:00.0 | This week in steady trade with Stephen Johnson. |
| 0:02.7 | What's this week in steady trade with Stephen Johnson? |
| 0:04.9 | Drinking, prescription, drug abuse, prostitution. |
| 0:07.5 | What else is in this week? |
| 0:09.0 | But being a doer. |
| 0:10.9 | This is a steady trade twist. |
| 0:14.3 | Welcome back. |
| 0:15.5 | Jeevan Stonson, Kim and Curtin. |
| 0:18.2 | We've got her on the show as part of a twist to talk about some psychological issues. |
| 0:23.6 | Not my mental health, more the audiences, your mental health. |
| 0:27.6 | The specific topic is traders and the ego. |
| 0:31.3 | More specifically, why do you lose when trading? |
| 0:35.6 | Kim, hello there. |
| 0:37.2 | You Wall Street coach you. Why? Why do traders lose? |
| 0:43.6 | Like, say you've done a year of the Tim Seix challenge. You know the theory. You know the |
| 0:48.4 | probability. You know the odds. Why can't you master your mind? Why do traders lose when it's a battle of them versus them? |
| 0:55.6 | I think most of all it's because they've been misinformed by years and years of studies |
| 1:02.5 | telling us psychologically or economically that you're supposed to not be connected to your |
| 1:08.7 | emotions or feelings. And actually, it's your emotions and |
| 1:12.4 | feelings that have all the wisdom, the gut feeling. Learning how to really listen to that and not the |
| 1:19.4 | irrelevant emotions and feelings takes time and practice. So I think there's a few reasons why they |
| 1:25.3 | lose, but I think that's number one. So we can say that I like to talk a bit, but I don't listen to my body enough. |
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