2 Traders Podcast: Recent Episodes
Walter Peters
Professional traders Darren and Walter reveal profitable trading psychology techniques and profitable trading strategies.
"Every now and then, you get one thread on there where a guy says, “Been trading for ten years, I’ve never made a penny. What am I doing wrong?” These are the threads where you’ll actually learn something. You learn about losing..."
The post EP148: Seeding Your Subconscious (Part 2 of 2) appeared first on 2TradersPodcast.
To me, the subconscious is the driving force behind most of our behaviors because we pretty much live life on autopilot and so our conscious minds just like when we do things, our conscious minds will say, “I did that. The reason why I drove that way to the party was because I always do this and I just thought today is Saturday. It’s going to be busier or whatever...
The post EP147: Seeding Your Subconscious (Part 1 of 2) appeared first on 2TradersPodcast.
It doesn’t have to be that complex. You think it should be complex. You think you need a computer to tell you what to do. These are all the assumptions but really it doesn’t have to be that complex. You can literally have a strategy where you buy at 4pm on Wednesday...
The post EP146: The Mathematics of Trading (Part 2 of 2) appeared first on 2TradersPodcast.
"You have to believe in this type of system, it’s going to work. If you believe that a trend-following system is going to work, are you also going to be able to believe that an end of the trend system is going to work too?..."
The post EP145: The Mathematics of Trading (Part 1 of 2) appeared first on 2TradersPodcast.
"Why don’t you allow yourself to do like, it could just be based on what you can stomach?.."
The post EP144: Broken Systems (Part 2 of 2) appeared first on 2TradersPodcast.
"We go through this cycle and I understand. I know that cycle really well. I think part of the antidote for that or the main sort of inoculation for that is to base the way you trade on what you clearly “know” about the markets..."
The post EP143: Broken Systems (Part 1 of 2) appeared first on 2TradersPodcast.
"You’re taking a lot of trades and you’re getting stopped out a lot because you know occasionally you’re going to get the big winner..."
The post EP142: Trading Edges (Part 2 of 2) appeared first on 2TradersPodcast.
"That sounds more reasonable to me, with markets being so complex and also people want price to move as well. They want the price to be wrong, don’t they? You have that human element in there as well. "
The post EP141: Trading Edges (Part 1 of 2) appeared first on 2TradersPodcast.
"It’s like magic how often that happens. What they’ll do is they take their profits on the little retracement moves during a trend. They’re all thinking that they’re going to catch the end of the trend but at the end what they’ll end up doing is -- it’s just like giving a personality to a cat..."
The post EP140: Trader vs Charts Part 2 of 2 appeared first on 2TradersPodcast.
"Those two things: whether you are executing your strategy and whether your strategy will make money. That’s basically what it comes down to. It’s not that difficult. To that end, what I would say is yeah, I think you can get a lot out of looking at the charts..."
The post EP139: Trader vs Charts Part 1 of 2 appeared first on 2TradersPodcast.
"If you’ll look at all of the trading systems out there my guess is that most of them would be related to sort of the quick-profit 1:1 or even less than 1:1 risk/reward. Seems like that is the sexy thing. I could be wrong but that’s my guess. Most of what’s out there is what people wanted, I suppose..."
The post EP138: Compounding Your Trades (Part 2 of 2) appeared first on 2TradersPodcast.
"It’s amazing to me when you have that approach, how easier it is to keep the faith. Keep your eye on the goal. Keep your focus. It is discouraging. It stinks sometimes but it’s also liberating when you just know it’s going to happen. Like, you know you’re going to make it work..."
The post EP137: Compounding Your Trades (Part 1 of 2) appeared first on 2TradersPodcast.
"Optimizing can help but again, you don’t know what the outcome is going to be. So you test 3 years and workout you can risk 5% and risk 5%. It could be too much. You could just have 3 really good years..."
The post EP136: The Effects of Optimism appeared first on 2TradersPodcast.
"I think the traders who do well know how to deal with failure, basically. When you’re talking about these systems, do you think that it’s easier if you have somebody else helping you with that?..."
The post EP135: Trading DeLorean appeared first on 2TradersPodcast.
Have you ever been in an uber-focus mode and everything else is just a blurry haze? Darren and Walter dive into the rabbit hole of perception this discussion. Walter talks about the two critical pieces for your trades. He talks about how the National Football League is similar to traders who automate their strategy. According...
The post EP134: Perception Reality appeared first on 2TradersPodcast.
Wait for an engulfing candle to occur on the chart. The price that I pay for that is, by waiting for that candle actually form and print, that usually is going to mean that I’m going to have my stop loss pretty far away from my entry price because I waited for “confirmation” of the trade...
The post EP133: Trade Confirmation appeared first on 2TradersPodcast.
Which trading skill predicts your longevity in the markets? Darren and Walter reveal the best way for you to look at your trades and the reality of big trading returns. Why do money managers do this thing? The two traders talk about a poker player and what she can teach you about trading for consistent profits.
The post EP132: Resiliency (Part 2 of 2) appeared first on 2TradersPodcast.
How does resiliency work into your psychology as a trader? In this first part of a back-to-back episode of 2Traders Podcast, Darren and Walter get into Positive Psychology and how limitations and resiliency impact your trading. Do you know why many traders don’t find consistent profits?? Walter shares a story about army training relates it...
The post EP131: Resiliency (Part 1 of 2) appeared first on 2TradersPodcast.
What do road hazards have to do with your trading?? In this second part of 2Traders two-part episode, Darren and Walter explore methods for setting your trading goals, what can you learn from the UK Pension Fund, and which band is the best band. According to the two traders, there is a universal motivation for...
The post EP130: Relativity (Part 2 of 2) appeared first on 2TradersPodcast.
Is trading for you? Should you quit? In this first part of a two-part episode of 2Traders Podcast, Walter and Darren discuss confidence and the seduction of the “perfect” trade. According to the two traders, it helps to see the big picture rather than look at the minutiae. Darren talks about the cause and effect,...
The post EP129: Relativity (Part 1 of 2) appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter will dive into trading psychology and explore what may make you happy as a trader — and may even effect your every-day life. Walter talks about having the right attitude and a positive mindset. He shares a unique story about a guy he met in University...
The post EP128: What Would Make You Happy? appeared first on 2TradersPodcast.
How important is money management for your trading? In this episode of 2Traders Podcast, Darren and Walter explore the elements in your trading that may make a big difference to your bottom line. What are these? And how does psychology play a role in your trading success? According to Darren, trading is similar to gambling...
The post EP127: A Tweak To An Old Strategy appeared first on 2TradersPodcast.
Is it possible to have too many rules for your trading? In this episode of 2Traders Podcast, Darren and Walter dive into trading systems: how many rules should your trading systems have? They discuss some of the biggest trading events and what impact these should have on your trading strategy. Walter talks about how having...
The post EP126: Overconfidence appeared first on 2TradersPodcast.
Did you make a mistake on that last losing trade?… Or was it just bad luck? In this episode of 2Traders Podcast, Darren and Walter examine causality bias and why humans tend to look for reasons behind everything – including trading results. Walter takes on the idea of fate, horoscopes and star signs and how...
The post EP125: The Causality Bias appeared first on 2TradersPodcast.
In this second half of this episode of the 2Traders Podcast, Darren and Walter talk about market patterns and why trading systems are uncomfortable. You will find out the surprising results of a ten-year study. If you’ve ever wondered about the most efficient placements for profit targets, this is for you. You will also learn...
The post EP124: Market Patterns: Random or Not? (Part 2 of 2) appeared first on 2TradersPodcast.
Are market patterns totally random? In this episode of 2Traders Podcast, Darren and Walter dig into the human psychology of seeing patterns in everything… especially your trading charts. And what factors you should focus on when you see it. Walter talks about the “3 Soldiers” and how he learned a thing or two while testing...
The post EP123: Market Patterns: Random or Not? (Part 1 of 2) appeared first on 2TradersPodcast.
The trader who never lost… is he a myth or trading legend? In this second part of a two-part of 2 Traders Podcast, Darren and Walter examine the idea of predicting the market, and what may mean for your currency trading. Darren talks about how greed can pop up in your trading and how this...
The post EP122: The Idea of Prediction (Part 2 of 2) appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter dig into the idea of prediction — and whether or not you should even try to predict the market. If you look to profit from the forex market, must you learn how to predict market moves? Walter shares a unique strategy that a presenter at the...
The post EP121: The Idea of Prediction (Part 1 of 2) appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter look into controlling risk and managing emotions. The two traders discuss the advantages of having a trading buddy. Walter shares how making a “game” out of trading can lead to unexpected results and he discusses the science behind untangling your own trading biases. According to Darren,...
The post EP120: Risk Control Vs Self Control appeared first on 2TradersPodcast.
Are feelings more important than facts? In this episode of 2Traders Podcast, Walter and Darren delve into the idea of odds and probabilities. Should you be more concerned about a possible shark attack or dying in a car crash? Darren examines the importance of how traders perceive “facts” and whether or not feelings should be...
The post EP119: Odds and Likelihoods appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren dig into choosing timeframes and how emotionally involved should you be in your trades? Darren talks about the importance of picking the right timeframe according to your goals and lifestyle, and the negative aspect of trading – specifically, dealing with psychological pressures. Walter unveils a unique...
The post EP118: Best Trading Style for You appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter ask this question: Is it morally right to profit from other people’s losses? Darren’s answer is “no” and you will hear his unique take on this dilemma. Also, do traders actually contribute anything to society? Walter delves into diversification, why volativity is important and even how...
The post EP117: Trading Negativity appeared first on 2TradersPodcast.
When should you tweak your system? In this episode of 2Traders Podcast, Darren and Walter examine possible reasons why traders change their system. Should you adjust your trading strategy or remain focused on it? Walter highlights the importance of identifying your biases and creating a system around those beliefs. According to him, a successful system...
The post EP116: The Evolution of Trading Strategies appeared first on 2TradersPodcast.
Will a trading system limit your profit potential? In this episode of 2Traders Podcast, Walter and Darren unravel the usage of trading systems. Do they offer opportunities or just limit you? Do they hold back your profit potential? They also talk about the two types of traders and how you can identify which one you...
The post EP115: Strategies and Bosses appeared first on 2TradersPodcast.
Did you know that pain is important for your trading? In this episode of 2Traders Podcast, Darren and Walter give the lesson of the 43 Million Trades and specifically how you can use this information to improve your trading. The two traders dig into the Big Five and what does an erratic trader have that...
The post EP114: Signs That “You Got It” (Part 2 of 2) appeared first on 2TradersPodcast.
What defines a successful trader? In this episode of 2Traders Podcast, Darren and Walter dig into trading systems and hitting that right “spot.” Should you stop when you feel comfortable with your system or should you push through that comfort zone? Walter points out the key elements — and biases — that stops you from...
The post EP113: Signs That “You Got It” (Part 1 of 2) appeared first on 2TradersPodcast.
How many system should a new trader start with? In this episode of 2Traders Podcast, Walter and Darren unravel the “number of systems” question. How many systems should you trade? Darren talks about the “four systems and one plan” concept and why it is important to have multiple systems when learning the flow and feel...
The post EP112: Systems and Plans appeared first on 2TradersPodcast.
Is it possible to make money with a roll of a dice? In this episode of 2Traders Podcast, Darren and Walter dig into an interesting cult hero called “The Dice Man” and how his “life insights” can improve your trading. Darren talks about the “Donald Duck” effect and how it has helped him with important...
The post EP111: The Dice Man appeared first on 2TradersPodcast.
Does your view in life affect your trading strategy? In this episode of 2Traders Podcast, Darren and Walter unravel one of the most interesting ideas about trading. Does a persons’s background affect the way he perceives trading and develop system according to it? Darren agrees that while your personal history might “restrict” you into specific...
The post EP110: The “Perfect” Personality appeared first on 2TradersPodcast.
Does a “perfect” trade actually exist? In this episode of 2Traders Podcast, Darren and Walter dig into two different trading perspectives. They deep dive on how your perspective can effect your trading results. Walter believes your focus should this one thing (otherwise you may confuse your trading). He also gets into cognitive biases… And whether...
The post EP109: Dud Trades appeared first on 2TradersPodcast.
In the second part of “The Parallels of Trading and Gambling”, Walter and Darren continue to delve into gambling and trading parallels: including how a “professional gambler” views the crowd and what a “sucker’s bet” is. Darren makes connections between gambling and trading and offers advice on how you can use these to your advantage...
The post EP108: The Parallels of Trading and Gambling (Part 2 of 2) appeared first on 2TradersPodcast.
Is there a difference between gambling and trading the markets? In this episode, Walter and Darren take an extended look into the parallels between trading and gambling. Why should traders understand gambling? Darren discusses an article he came across and how this opened up a different perspective for his trading. Walter talks about a popular...
The post EP107: The Parallels of Gambling and Trading (Part 1 of 2) appeared first on 2TradersPodcast.
Can the “Double Ace of Diamonds” help your trading?? In this episode of 2Traders Podcast, Darren and Walter look at a major trading issue (every trader goes through this eventually). You’ll see how to focus on making the “best trading decision” may not be the best way to trade. Darren will also show you why...
The post EP106: Gambling and Forex Trading (Part 2 of 2) appeared first on 2TradersPodcast.
What’s the one thing that poker players, fishermen, forex traders have in common? In this episode of 2Traders Podcast, Darren and Walter set sail with the fishermen (and the gamblers). What can traders learn from these other worlds? The discussion in this episode encompasses the dangers of having too much information and how this can...
The post EP105: Gambling and Forex Trading (Part 1 of 2) appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter look into trading small accounts. Should you trade them aggressively or conservatively? Darren digs into the dangers for beginning traders and understanding risk. Walter gives a little insider information for people who want to test their “luck” in testing a system. They also talk about a...
The post EP104: Trading Small Accounts appeared first on 2TradersPodcast.
How do you know if you will be profitable? In this episode of 2Traders Podcast, Walter and Darren present what every trader must know in order to determine likely profitability (there are no guarantees, of course, but there is a smart course of action to take). You will see what execution, testing, and verification has...
The post EP103: Trading Profitability appeared first on 2TradersPodcast.
Did you know that too much stress can affect your brain structure? In this episode of 2Traders Podcast, Darren and Walter dig into stress, how it can affect your trading performance, and how you can avoid it. Darren talks about learning to recognize that critical moment when you’re about to fall to the edge…...
The post EP102: Stress appeared first on 2TradersPodcast.
Why are most traders so in love with reading charts? In this episode of 2Traders Podcast, Darren and Walter dig into “no chart trading?” — is it possible? — You will get the why this is so challenging for traders to grasp. Walter spins a yarn about a weird concept and relates it to forex...
The post EP101: Trading Without A Chart appeared first on 2TradersPodcast.
When is the best time to step away from the charts? In this episode of 2Traders Podcast, Darren and Walter explore effective ways of destressing and re-calibrating your trading mindset. According to Darren, it is important to keep track of your emotions when making important decisions and to search for this one thing with your...
The post EP100: Trading Recalibration appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren dive into your “comfort zone.” Why do we seek the easy path and tend to quit when it gets a bit tricky? The two traders also talk about the dangers of having your system “too customized” for you and how this can actually harm you in...
The post EP99: Comfort in Trading appeared first on 2TradersPodcast.
Is there a “secret” recipe to trading success? In this episode of 2Traders Podcast, Walter and Darren look at the parallels between trading and flying an airplane. As the pilot of your own trade, is there a specific spot wherein you can just turn on the autopilot? Should you let things fall into place once...
The post EP98: The Secret to Trading appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren examine the parallels between trading psychology and Boyd’s Law of Iteration. You will see what this is and this law effects your trading decisions. Darren and Walter talk about the real essence of testing and why this is important in terms of finding that “perfect” system...
The post EP97: The Speed of Iteration appeared first on 2TradersPodcast.
Should you trade for quick profits? In this episode of 2Traders Podcast, Walter and Darren examine the psychological concept of hyperbolic discounting, you will see what this is and how important this is to your trading. Walter talks our natural bias toward seeking opportunities and paying attention to things that support your beliefs. Darren focuses...
The post EP96: Hyperbolic Discounting appeared first on 2TradersPodcast.
Sometimes traders are like a fish that cannot see the fishbowl…. what? In this episode of 2Traders Podcast, Walter and Darren talk about the psychology of cross-pollination and how critical this is to your evolution as a trader. They also share their most eye-opening interactions with other traders and how these actually helped them advance...
The post EP94: Cross-Pollination of Ideas appeared first on 2TradersPodcast.
In this second installment of “The Intuitive Trader”, Walter and Darren unlock three doors to improving your trading psychology and why most trading forums give little importance to this. Darren tells us why most traders get the wrong evaluation of this one critical trading element. And, why do the first $100 Million account look so...
The post EP93: The Intuitive Trader (Part 2 of 2) appeared first on 2TradersPodcast.
In part two of “Trading With Your Gut”, Walter and Darren consider the following: the counterproductive thing every trader thinks about when entering a trade and why this is counterproductive. And how you build a profitable trader’s gut and what can that mean for your trading? You will also the best starting place for newbie...
The post EP91: Emotional Gut Response (Part 2 of 2) appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter tackle the psychology behind a trader’s ability to trust his gut. Why do we listen to our intuition even if when it is obvious we should not? Is it reliable to trust your emotions when it comes to trading decisions? Why? Darren talks about systematic trading...
The post EP90: Emotional Gut Response (Part 1 of 2) appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren dig into one of the most common problems for new traders: “How do I find the perfect system for me?” They discuss possible barriers for traders searching for a system and how you can get around these issues. Walter suggests looking at “categories” and Darren talks...
The post EP89: Finding Your Perfect System appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren set sail on the topic of trading against the market and the psychology behind why most newbie traders get it wrong. This brings up the age-old trading question: Should you follow your gut or should become more mechanical in your approach? Do you know why traders...
The post EP88: Sailing Against The Current appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren dig into the problem of controlling your trading losses and trade management. According to Darren, traders often fall prey to a common mindset flaw. Walter shares a few interesting concepts regarding trade exits. Walter also shares different perspectives from different types of traders and how this...
The post EP87: Controlling Your Losses appeared first on 2TradersPodcast.
In this episode, Walter and Darren come across a tale of two traders: one carries a profitable mindset and the other trader has the advantage of a profitable system. So, ultimately, who is in a better position as a trader? Walter talks about the Fundamental Attribution Error and how the human brain is wired to...
The post EP86: Mindset vs System appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren hop into the topic of reversals, entries and exits, and what triggers certain market and price movements. What are some of the important factors that makes it difficult for traders to make decisions? When should you enter a trade and when should you say, “Okay, this...
The post EP85: Trading Squid appeared first on 2TradersPodcast.
Do you know what other traders are thinking? What about those traders who think your trades are going to lose? In this episode of 2Traders Podcast, Walter and Darren take a close look at reversion to the mean systems and Martingale systems. Walter points out that identifying the weak points for your system...
The post EP84: Reversion to the Mean appeared first on 2TradersPodcast.
When do you know you are a “successful” trader?? In this episode of 2Traders Podcast, Darren and Walter zoom in on the question: What makes a great trader? Can just anyone do it? Or, do specific traders have a higher probability of “making it” as a trader? According to Walter, one genetic component may help...
The post EP83: What Makes a Good Trader appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren zoom in on what it means to trade multiple trading systems. Walter points out that it may be possible to determine the value of a good system rather quickly (this may surprise you). According to Darren, accepting the “inevitable” is simply part of trading and you...
The post EP82: Trading Multiple Systems appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter zoom in on trading system diversification. Which offers you better diversification, multiple trading systems or multiple markets? In other words, will you get better results (and smoother equity curves) when you diversify by trading many (uncorrelated) markets or by trading (uncorrelated) trading systems? They also touch...
The post EP80: Diversification appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter crack the code of one of the most intriguing questions. They touch the idea behind the simplicity of “no-brainer” businesses, brokers and setting-up accounts, and how trading has evolved through time. Darren draws parallels between trading and poker. Walter talks about trading contests and how these...
The post EP79: “No-Brainer” Theory appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter talk about the idea that the markets are stacked against the average trader… But, is this reality? And, what about your broker? Is he out to get you? Darren points out the importance of finding your own edge and thinking outside the box, learning how to...
The post EP78: Stacking The Average Joe appeared first on 2TradersPodcast.
What is something that I can do to improve my trading? In this episode of 2 Traders Podcast, Darren and Walter reveal insider tips on simplest ways to improve your trading. Darren goes about his three easy methods for improving your trading results. Darren offers his “3 easy methods” for completely shifting your perspective on...
The post EP76: Easy Ways To Improve Your Trading appeared first on 2TradersPodcast.
As a trader, you get to design your own trading rules but this means you can just easily break them also… So if you do break them, will it make a difference to your trading account? In this episode of 2Traders Podcast, Walter and Darren focus on trading rules. Why have trading rules? How do...
The post EP75: Breaking Your Trading Rules appeared first on 2TradersPodcast.
Have you ever reached a point with your trading that you say to yourself “That’s it. I’m done.” In this episode of 2Traders podcast, Walter and Darren explore the “Uncle Point.” Because trading can be very emotionally and psychologically draining, especially if you rely on profits for your income. When do know you’ve reached a...
The post EP74: Uncle Point appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter dig into the idea of “The Theory of Everything” and the psychology behind a natural human behavior. Why do we want someone to do something even if they don’t want to do it? The discussion moves into risk management, trading goals, expectations, and the Eastern concept...
The post EP73: The Theory of Everything appeared first on 2TradersPodcast.
How can your win by losing? Darren and Walter delve into trading fears and the human desire to win at all costs in this episode. Walter examines the psychology behind confidence, and how you analyze your trading results. He talks about why you should pivot off your losses to improve and how to “see” the...
The post EP71: Confidence and Fears appeared first on 2TradersPodcast.
Did you take the right trade? Will you pull a profit from this trade? In this episode of 2Traders Podcast, Darren and Walter take a trip down the memory lane. Both recall how they validated their trading systems and market beliefs. Because traders have a need to know that we are right, it can muddy...
The post EP70: Verification appeared first on 2TradersPodcast.
Information is great but can too much information set your trading back? In this episode of 2Traders Podcast, Walter and Darren double click on trading distractions and what you can do to minimize the effect of potential distractions on your trading performance. They touch on information overload, system creation, confirmation bias, and the age-old trading...
The post EP69: The Age of Distractions appeared first on 2TradersPodcast.
Information is great but can too much information set your trading back? In this episode of 2Traders Podcast, Walter and Darren double click on trading distractions and what you can do to minimize the effect of potential distractions on your trading performance. They touch on information overload, system creation, confirmation bias, and the age-old trading...
The post EP68: Trading Accounts appeared first on 2TradersPodcast.
Naturally, we love it when things go our way. However, basking in your success may not be healthy for your trading. In this episode of 2 Traders Podcast, Darren and Walter shed some light on the subject of seizing fortunate trades, popping the market bubble, and building your trading confidence. How long can you be...
The post EP67: Trade Carpe Diem appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter look into brainstorming and trading communities. Sharing your ideas (and hearing different points of view) can help your trading. But should you always join trading communities? When might they not aid your trading? Darren shares the results of an interesting research study about groups. He also...
The post EP66: Brainstorming appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter examine a “trader’s life.” Topics include: fundamental vs technical analysis (the pros and cons of each approach), confirmation bias, and how a newbie traders and old salty traders “see” trading systems differently. According to Walter, academic studies don’t really determine a person’s success, and often, winning...
The post EP64: A Storm of Stories (Part 1 of 2) appeared first on 2TradersPodcast.
Why do people feel the need to bring others down?? Is this our basic human psychology? In this episode of 2Traders Podcast, Darren and Walter dig into a compelling question for traders and non-traders alike: why do hardened traders feel the need to intimidate other traders — especially newbies? The two traders also tackle the...
The post EP63: Downhill Road appeared first on 2TradersPodcast.
Humans are generally poor in perceiving actual risks — especially traders. So how important is it to assess risks correctly? Do you ever second-guess yourself? In this episode of 2Traders Podcast, Darren and Walter clear away the fog on the topic of risk assessment, discounted information, cognitive bias and the problems that come along with...
The post EP62: Risk Assessment appeared first on 2TradersPodcast.
Do you know what you really want? Do you have an intense desire to win? Why do many traders want to feel like a winner? In this episode of 2Traders, Darren and Walter dig into the issues that traders bump into when it comes to interacting with the market, including issues with trade execution, loss...
The post EP61: Trading Execution appeared first on 2TradersPodcast.
When you make important decisions in life — do you decide by ticking off some self-made checklist? Or, do you go by your instinct? In this episode of 2Traders Podcast, Darren and Walter tap into the subject of trading entries and exits, backtesting, market patterns, and how your trading results are the result of your...
The post EP60: Entries and Exits appeared first on 2TradersPodcast.
Would you go fishing while trading — or vice versa? In this episode of Two Traders Podcast, Darren and Walter dig into listener questions. The discussion covers two different fishing methods: line fishing and spear fishing, the dangers of spearing a friend, and why institutional traders have headaches retail traders don’t have, and the pros...
The post EP56: Two Traders, Four Questions (Part 2 of 2) appeared first on 2TradersPodcast.
Walter and Darren jump into your questions in this episode. How do you know you are ready for “real trading?” Darren stresses looking at the process, rather than the end result. Walter encourages new traders to look at trading as a job. From this episode you’ll get the three simple questions you must ask yourself...
The post EP55: Two Traders, Four Questions (Part 1 of 2) appeared first on 2TradersPodcast.
Here’s what’s inside this episode: What is “reframing your losses?” How do you “focus” on your trading targets? Why drawdowns do this thing to your system execution… and the importance of aiming for the “bigger fish.” You’ll see some of the important factors to consider when making decisions in the midst of a drawdown, how...
The post EP54: Reframing appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren discuss holding on to winning trades, moving to break-even, entries and exits, and why you might get a different result compared to other traders using the same system as you. Walter outlines some of the situations that may help you in finding the right approach to...
The post EP53: Winning Trades appeared first on 2TradersPodcast.
At times, as traders we may lose confidence in trading and question whether we can “make trading work”, especially if you’re new to trading. When you experience drawdowns, it can be tough to stay the course. Perhaps, you’ve thought “is this something that I really want to do?” or “is this worth my time and...
The post EP52: Confidence In Your Trading appeared first on 2TradersPodcast.
We learn in school how to make decisions based on “fundamental analysis.” But how useful is it in trading? In this episode of 2 Traders Podcast, Walter and Darren talk about the constantly changing forex markets and how the fundamentals dictate which market you should choose to trade. Both of them agree on the value...
The post EP51: The Changing Markets appeared first on 2TradersPodcast.
Walter and Darren dig into a trader’s question about confidence issues with support and resistance trading. They talk about trading beliefs, the dangers of tweaking your system to fit what other traders do, and using your emotions — such as fear — as a tool in trading. They also share some tips for keeping your...
The post EP50: Success (Part 2 of 2) appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Darren and Walter look at “success.” For instance, if you’re a successful and consistent trader, then why are you not mega-rich? Why don’t you have multimillion dollar real estate portfolio and a Ferrari? They dig into the idea of success and what it means to different traders. Your comfort...
The post EP49: Success (Part 1 of 2) appeared first on 2TradersPodcast.
Walter and Darren dig into a trader’s question about confidence issues with support and resistance trading. They talk about trading beliefs, the dangers of tweaking your system to fit what other traders do, and using your emotions — such as fear — as a tool in trading. They also share some tips for keeping your...
The post EP48: Confidence in Support and Resistance appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren talk about what could be some of the possible issues for a trader who can make profit from good trades over a week and can loose them all in just half an hour. They discuss different factors that can cause this such as inconsistency, confidence, risk/reward...
The post EP47: Trading Mirage appeared first on 2TradersPodcast.
Greed is one the Seven Deadly Sins taught to us by our elders… but does this apply in trading too? In this episode of 2Traders Podcast, Walter and Darren talk about greed, how this affects your trading, and when should you — or should not — let your self fall into it. Darren and...
The post EP46: Greed appeared first on 2TradersPodcast.
As children, we were taught by our parents to always follow the rules because they are going to get us to where we want to be. But did you ever think that maybe some rules are not really meant to be followed? In this episode of 2Traders Podcast, Walter and Darren talk about the importance...
The post EP44: Breaking the Rules (Part 1 of 2) appeared first on 2TradersPodcast.
In this episode of Two Traders Podcast, Darren and Walter focus on the different aspects of the trading game, re-examining your beliefs, why Walter’s traders have difficulty with over trading while Darren’s traders have difficulty pulling the trigger, and what you must keep in mind when trading Darren’s system. Walter and Darren also talk about...
The post EP43: Trading Frequency (Part 2 of 2) appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren talk about how often systems fire off trades, what that means to your performance, and how a trading system can entirely depend on your beliefs. Also, Walter and Darren discuss about why traders have mental blocks about pulling the trigger or overtrading, and how your decision...
The post EP42: Trading Frequency (Part 1 of 2) appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren talk about the idea of support and resistance, its advantages and disadvantages, the dangers that might come along with using it, and why a lot of people are using it. Also, Walter and Darren touch about the topic of trendlines and how this relates to support...
The post EP41: Support and Resistance appeared first on 2TradersPodcast.
In life, being optimistic is an important trait that every person should have… but not in trading. In this episode of 2Traders Podcast, Walter and Darren dig into the topic about Optimism Bias and how this can be dangerous to a trader. Walter stresses out how important it is to consider certain factors first and...
The post EP39: Optimism Bias appeared first on 2TradersPodcast.
In this episode of 2Traders Podcast, Walter and Darren dig into the topic of hedging. You will find out about the tricky aspects of hedging, including hindsight bias and some of the possible solutions for using hedging in your trading. Also, Walter and Darren talk about brokers and some of the sticky aspects of hedge...
The post EP38: Hedging appeared first on 2TradersPodcast.
Like most things in life, you’ve got to decide which part would you rather play. Are you going to go with the safe thing or are you willing to risk a bit more? As a trader, which one would you rather be? In this episode of 2Traders Podcast, Walter and Darren each share their thoughts...
The post EP37: Infinite Variance appeared first on 2TradersPodcast.
When you read newspapers or novels, do you ever wonder if the words just flow freely for the author? It’s inevitable – sometimes writers experience “writer’s block” – and times are tough… For traders, a similar scenario also happens from time to time, with varying degrees of frequency, depending on the trading system. The dreaded...
The post EP36: Drawdown appeared first on 2TradersPodcast.
In this episode of 2 Traders Podcast, Walter talks about one the most common questions for traders and non-traders alike: Is trading the same thing as gambling? This episode revolves around these ideas: is trading the same as gambling?? What is sound risk management? And when does over-trading become a problem? Darren agrees that while...
The post EP35: Trading as “Gambling” appeared first on 2TradersPodcast.
Does your last trade have anything to do with your next trade? In this episode of 2Traders Podcast, Walter talks about the “gambling fallacy” mindset, back-testing, and statistical analysis; and how these can affect your decisions in determining trading results and the amount of risk you are willing to take. The “meat” of this episode...
The post EP34: Gambler’s Fallacy appeared first on 2TradersPodcast.
Darren and Walter talk about trading rules, creativity and why the school system “breaks in” children. If you are re-thinking your trading system and approach to the markets after this episode, then it has done it’s job. Be your own trader, and trade your own beliefs. It’s a better way to trade. Download (Duration: 19:35 / 22.4 MB)...
The post EP33: Creativity appeared first on 2TradersPodcast.
Darren and Walter each share one helpful trading tip – one thing that has helped over the past month. Walter talks about how his disciplined approach to back testing has helped and Darren dives into the deep thinking he’s been doing on the distribution of winners and losers. Download (Duration: 09:13 / 10.5 MB) In this episode:...
The post EP32: Helpful Trading Tips appeared first on 2TradersPodcast.
The Disciplined Trader is the only trader who consistently profits… or is this a load of hooey? Darren and Walter examine discipline in this episode, what is it? Why is it “needed?” Is it overrated? Trading discipline is the topic for this episode (and some of this you’ve probably never heard before). Download (Duration: 19:34 /...
The post EP31: Discipline appeared first on 2TradersPodcast.
(Continued from Part 1 – click here for Part 1) In part 2 of “Trading With Space” Darren and Walter examine: How does the blame for losing trades change depending on your trading philosophy? Bad luck for casinos = a draw down for your trading system? Darren knows how many bad trading days he’ll likely...
The post EP30: Trading With Space (Part 2 of 2) appeared first on 2TradersPodcast.
What is space in trading? And why does it matter?? Should traders pay attention to space? Why? Why not?? Is it something you must know about, and “see” on the charts to find good trade setups? Or is it a load of hooey?? Find out what Darren and Walter think about space, and whether it...
The post EP29: Trading With Space (Part 1 of 2) appeared first on 2TradersPodcast.
Do you see a incomprehensible, complex market when you sit down to trade? Or is it a simple song… music to your ears? Many traders have strong views about whether the markets are incredibly complex or just a simple extension of the market participants (and this is usually reflected in how traders try to extract...
The post EP28: How Complex Are The Markets? appeared first on 2TradersPodcast.
As traders, we’re taught to follow the rules. There’s no room for changing it up, cowboy. Gotta be disciplined. Only the traders who stick to the system survive… But is this true? Are there times when you should, as an experienced trader, actually {gasp!} break the rules? In other words, in this episode the topic is “Trading...
The post EP27: Trading From Your Gut appeared first on 2TradersPodcast.
Life’s better at the top, isn’t it? A fat cat trading account, huge bonus at the end of the year, and money to burn on the “trader lifestyle.” Or is it all it’s cut up to be? Could it be that many traders don’t know what they want? Is it better to trade for the...
The post EP26: Getting A “Real” Trading Job appeared first on 2TradersPodcast.
Do you think trading will shave years off your life? Should you trade every day (so you don’t miss out on the “big move?”) Or do you find trading stressful? Do you require frequent sabbaticals, away from the charts, in order to recharge and come back to the charts fresh, with a new perspective? Darren...
The post EP25: Sabbaticals appeared first on 2TradersPodcast.
Darren and Walter dig into uncertainty in this episode, and the merits of numbers, calculations and probabilities for traders. Walter explores the idea of using a calculation to determine the efficacy of a strategy, while Darren is not too sure about quantifying these things when the markets change and traders often don’t follow their trading...
The post EP24: Uncertainty appeared first on 2TradersPodcast.
The danger in thinking you are the shizz-nit is clear, and Darren outlines it in the form of the Dunning-Kruger effect. We also step into the one dangerous idea perpetually losing traders have about everyone else. Why banks are happy lemon juice is not a potent “invisible juice.” What the fundamental attribution error has to do...
The post EP23: Confidence appeared first on 2TradersPodcast.
Is it ok to be wrong as a trader? Can you still find consistent profits if you are consistently wrong?? Why does being wrong (or right) become so important for traders? Is this part of what makes consistent, profitable trading so difficult? Is this the critical mistake that ends up road-blocking traders from success?? What...
The post EP22: Being Wrong appeared first on 2TradersPodcast.
Do you need a mentor to show you the ropes? How do you know which mentor is best for you? Will you have multiple mentors during your trading career? Or do they even help, over the long haul? In this episode, Darren and Walter talk mentors – and why you may (or may not) want...
The post EP21: Trading Mentors appeared first on 2TradersPodcast.
Humans see patterns, so it is no surprise that we traders “see” patterns everywhere. But is this helpful? Are these patterns deceptive and useless? Or profitable and reliable? It depends on who you ask… and whether that lion in the tall grass is gonna eat you, or whether Santa Claus is real or not. Confused?...
The post EP20: Seeing Chart Patterns appeared first on 2TradersPodcast.
Here’s a checklist you may use when deciding to use a trading system: Does the system have a proven track record? Check. Do I know anyone making money with the system? Check. Do the back tests look good? Check. Will the system likely make enough money to keep me happy? Check. But here’s the thing – there’s...
The post EP19: The Right System For Your Time Zone appeared first on 2TradersPodcast.
In a male-dominated industry, could the best traders be in the minority? Are female traders more likely to find long term consistent profits than men? If this is so, why? Darren and Walter lift the lid on sex differences in trading. What you hear in this episode may be controversial, but you decide whether it is true....
The post EP18: Are Women Traders Superior To Men? appeared first on 2TradersPodcast.
Many genius academics will tell you the markets are random. (NOTE: most of these academics also don’t have much money). Traders will tell you there are repeatable patterns in the markets, in other words, there is no Random Walk Down Wall Street. So which is it? Are there obvious patterns to the market movements? Or are...
The post EP17: Random Charts appeared first on 2TradersPodcast.
Have you ever wondered why someone you know is unable to see the obvious? Sometimes people are blind to what is front and center. But why is this? “Change blindness” is the topic of this episode, and both Walter and Darren talk about techniques for becoming aware of change blindness, and strategies for overcoming this...
The post EP16: Blinded By The Charts appeared first on 2TradersPodcast.
Imagine – the world is crumbling, the banks and the entire financial system looks completely fried… left for dead. And you decide to plonk down $5 Billion on a failing investment bank? Wait…why would you be so insane? Because you’re a contrarian – like Warren Buffet, who invested $5 billion in the investment bank Goldman...
The post EP15: Contrarian Trading appeared first on 2TradersPodcast.
What do your trading system rules accomplish? Should you follow a successful trader, just duplicate what works? What does a buffet have in common with a successful trader’s strategy? What can we learn from successful traders who adopt completely different approaches to profitable trading? Why do some cancer patients die, and others survive? (And does this...
The post EP14: Your Trading Beliefs appeared first on 2TradersPodcast.
According to Ernest Becker, and a few rogue psychologists, death is the prime motivator in your life. So, what does this mean for your trading? How do you change your behavior once you consider the inevitability of your own demise? The answers may shock you. In this episode, Darren and Walter jump into Terror Management...
The post EP13: Death and Trading appeared first on 2TradersPodcast.
In this episode, Darren posts his trading stats over the last 100 trades and gets weird feedback from social media. We dive into why your account size may dictate how often you trade. Why if you focus on the reward-to-risk ratio, you may end up with trading burnout. You’ll hear about the Japanese cheesecake in...
The post EP12: Comfort Trading appeared first on 2TradersPodcast.
Most traders are adept at looking at the charts through technical tools, but do you ever do technical analysis on yourself? Are there cultural differences amongst traders when it comes to what is important? What if you simply tossed a coin to determine your trades? Would that work? Darren and Walter each offer a very...
The post EP11: A Simple Way To Profits appeared first on 2TradersPodcast.
What does a guy who’s only had one girlfriend have to do with taking profits? Why do Darren and Walter test random entry trading systems? And what does the old lady on the airplane with the St. Christopher medal have to do with technical indicators and the illusion of control? Find out in this episode of...
The post EP10: Random Entry Systems? appeared first on 2TradersPodcast.
What can you do with a moving average? How many strategies, methods or uses does a moving average hold for a forex trader? The answer is…plenty. In this episode, Darren and Walter lift the veil on the many uses for a moving average. You’ll see how many different ways (some of them very unconventional) you...
The post EP09: Moving Average Systems appeared first on 2TradersPodcast.
Why does it seem to be that profitable trading is so difficult? Does this mean we must create complex methods for pulling profits from the markets? Are most humans designed to lose money in the markets? Why is this? And what can we do to change this propensity, if it is true for most of...
The post EP08: Is Complex Trading Right For You? appeared first on 2TradersPodcast.
What does it mean when you lapse back into bad habits? Is it a good idea to copy what a successful trader does? How do you know which time frame you should trade? Do experts make good teachers? Have you ever had a long night with a bottle of vodka? Darren and Walter tackle these...
The post EP07: How To Find Your Trading Groove appeared first on 2TradersPodcast.
What should you do when you think it is time to change your trading system? Is it ever more profitable to change (or bend) the rules? Walter and Darren dig into strategies you can use for maintaining consistency with your trading system. Download (Duration: 22:23 / 20.5 MB) In this episode: 02:10 – what’s really going to happen...
The post EP06: Bending The Rules appeared first on 2TradersPodcast.
What do trading algorithms do for the markets? Walter and Darren discuss various opinions and how it affects your trades. Download (Duration: 15:53 / 14.5 MB) In this episode: 01:38 – the hedge fund everyone loved 02:07 – the insane “mother of all losses” 03:26 – the dinosaur asteroid & the markets 04:12 – how calculating...
The post EP05: The Boogey Algos appeared first on 2TradersPodcast.
How do you decide where to put your stop loss? Walter and Darren discuss following the “rule book” vs developing a system based on YOU. Download (Duration: 24:30 / 22.4MB) In this episode: 01:04 – stop loss based on the market 02:30 – the elastic band of profit and loss 04:28 – should it be based...
The post EP04: What Goes Into Setting Your Stop Loss? appeared first on 2TradersPodcast.
In this episode, Walter and Darren talk about how people create emotions in life by creating situations that lead to emotional experiences. The Trading Tribe, created by Ed Seykota, allows traders purge emotions so that they do not obstruct you from achieving your trading goals. How does this process work? Is it something you should...
The post EP03: What The Bleep Is The “Trading Tribe”? appeared first on 2TradersPodcast.
Learning to characterize your emotions and how it affects your most important trading decisions. Download (Duration: 28:19 / 27.8MB) In this episode: 02:02 – those who are more articulate of their feelings 03:30 – closely examine how you react 04:49 – have a plan for dealing with emotions 07:45 – learning to be more self-aware...
The post EP02: Fear And Self-Awareness appeared first on 2TradersPodcast.
What role does human psychology play in your trading strategy? Find the balance and see how emotions can make a huge difference. Download (Duration: 40:02 / 38.4MB) In this episode: 02:24 – the hindsight bias 03:21 – the mental shortcut 07:15 – what are the achievers doing? 09:50 – going against the herd 15:30 –...
The post EP01: Is Psychology More Important Than Strategy? appeared first on 2TradersPodcast.