Talking Trading | Australian Sharemarket Strategies, Education & Trading Psychology

Dr Daniel Crosby makes behavioural finance fascinating and explains why our primitive brains are hardwired 180 degrees against investing in the stock market.Caroline StephenThe price of West Texas Intermediate Crude oil went into negative dollars for the first time in history. Here is a quick look at the price drop and the differences between Brent and West Texas Crude.  Dr Daniel CrosbyWhy is trading so hard to master? Daniel explains it.It is true, God or nature could not have created a worse investor than you or I.Our brains are wired 180 degrees backwards to invest in the stock market.Humans hate NOTHING more than uncertainty.In over 2500 years our primitive brains have not had a substantial upgrade and there is an enormous mismatch for what we were made for in cave-man times and what is required in modern financial marketsFor instance, why are we statistically wired to be 2.5 times more upset about a loss than a comparably sized win?  Daniel explains it at 9.45 minsAnd then he talks about the 3 types of risk at 11.10 mins and two primary types of behavioural errors and biases; ego and its role as a protective function in humans at 15.30 mins and emotionalism as the first-ever risk tolerance questionnaire at 18.10 mins.You will just love this interview.To find out more about him go to: LinkedIn Daniel Crosby PhD Twitter @danielcrosbyTo listen to his podcast go to Standard Deviation. If your trading feels like running on a treadmill — sweating, pushing, but going nowhere — it’s because you’re missing the right system. Louise says: "I’m offering free 30-minute calls to rip the brakes off your trading. Spots are limited. Fill out the survey at survey.tradinggame.com.au." Louise Bedford is a best-selling author of six sharemarket books, host of the Talking Trading podcast, and founder of TradingGame.com.au, one of Australia’s leading trading education communities.For over 30 years she has helped traders master trading the Australian sharemarket, technical analysis, and trading psychology so they can build long-term financial independence.www.tradinggame.com.au www.talkingtrading.com.au.FacebookYouTube TwitterLinkedIn

Chris Tate answers your most burning trading questions on these Corona affected markets.Chris TateCT talks on distractions while trading and whether he leaves his mobile phone in another room (5.10 mins).We also ask what goes through his mind when he gets a signal in a choppy market and how he handles resistance to it (7.08 mins).We discuss options writing and he talks on the BEHAVOURIAL GAP in trading, which is the difference between the profit you would have made and the profit you did make (10.20 mins).He points out that traders pay IDIOT LEVIES for delays and efficiency gaps and that short- term traders need to be ‘Johnnie on the spot’.His final piece of advice for these Corona affected markets (16 mins) – don’t try and trade the turn. Louise Bedford – MindpowerPeople who have a financial support network make 2-3% more per annum.We need to support to keep us going because we all fall prey to our own psychology.You will benefit more by being out of the market during the worst times.  Louise Bedford is a best-selling author of six sharemarket books, host of the Talking Trading podcast, and founder of TradingGame.com.au, one of Australia’s leading trading education communities.For over 30 years she has helped traders master trading the Australian sharemarket, technical analysis, and trading psychology so they can build long-term financial independence.www.tradinggame.com.au www.talkingtrading.com.au.FacebookYouTube TwitterLinkedIn

COVID-19 is the pandemic of a generation and Chris Tate tells you how to protect yourself when the markets go from manic to panic.Louise Bedford - Unsung HeroJulia Osorio is a driving instructor and the mechanical attitude and way she teaches people to drive, has translated into her executing her trading plan in the same way, every single time.In only 2 years Julia is trading like a pro.  Chris TateCOVID-19 is the pandemic of a generation.People have reacted with primitive fight or flight mechanisms and all rushed towards the door taking the markets into panic territory.At 6.20 mins hear the old parable that says “Would you rather mistake a bear for a rock or a rock for a bear?” The correct answer is… a rock for a bear … because then you just look silly.But people have seen a bear and mistaken it for a rock and the bear has run up to them growling.The massive drop in markets has been the result.Hear how Chris has protected himself in this environment (7.15 mins).Then we ask Chris your most burning questions on how to navigate the market during this time.At 9.12 mins hear about the VIX or as it is colloquially known 'The fear gauge" and then at 12.32 mins hear how in any world economic shock such as 9/11, The GFC or COVID-19 a trader's system should protect them.At 13.10 mins hear CT explain indices and their upward bias and his emphatic reason for not shorting them and at 16.45 mins hear how the role of a system is to exclude the trader as much as possible.. If your trading feels like running on a treadmill — sweating, pushing, but going nowhere — it’s because you’re missing the right system. Louise says: "I’m offering free 30-minute calls to rip the brakes off your trading. Spots are limited. Fill out the survey at survey.tradinggame.com.au." Louise Bedford is a best-selling author of six sharemarket books, host of the Talking Trading podcast, and founder of TradingGame.com.au, one of Australia’s leading trading education communities.For over 30 years she has helped traders master trading the Australian sharemarket, technical analysis, and trading psychology so they can build long-term financial independence.www.tradinggame.com.au www.talkingtrading.com.au.FacebookYouTube TwitterLinkedIn

Listen to scalper Andrew Aziz and take to heart his lessons on the markets.Louise Bedford Unsung HeroBruce Fenwick - you are 'Mr Consistency'. You are happy to do without now so you have a better future.You also realize what all great traders know, “if it is to be it is up to me”. Andrew AzizAndrew Aziz is a day trader who describes himself as an engineer by training, a trader by profession, an adventurer by heart.It is a good description of this young man who makes $1000 - $2000 per day trading.Andrew is a ‘scalper’ who makes money out of the big moves in a short period of time.He is the author of “How to Day Trade for a Living.”After training as a chemical engineer Andrew became fascinated by the stock market. In 2016 he started Bear Bull Traders so he could create a community of traders.Andrew reveals all in this interview (although I wish I had of asked more about his adventuring life).He discusses the most embarrassing trading story where he committed the deadliest sin in trading and lost $7000 in one trade… publicly, with many people watching. Ouch.(7.50 mins)We discuss the psychological advice he gives to traders (9 mins).Andrew goes through his daily routine (10.30 mins) and what qualities you need to be a good trader.His final pieces of advice are: Fit trading in your life, don’t try and fit your life into trading Be in touch with a community of traders Successful traders are the ones that are winners outside of trading.To find out more about Andrew go to:www.bearbulltraders.com OR find him on social media OR email him at andrew@bearbulltraders.comHe is more than happy to have a chat with everyone if you reach out to him. Louise Bedford is a best-selling author of six sharemarket books, host of the Talking Trading podcast, and founder of TradingGame.com.au, one of Australia’s leading trading education communities.For over 30 years she has helped traders master trading the Australian sharemarket, technical analysis, and trading psychology so they can build long-term financial independence.www.tradinggame.com.au www.talkingtrading.com.au.FacebookYouTube TwitterLinkedIn

Gil Ben Hur on being Zen in the markets and key mental tools. Chris Tate on the nature of mania and The South Sea Bubble.Gil Ben HurGil and I had a fantastic conversation on managing risk in an unexpected environment and key mental tools to use when trading.Ever felt taking losses in trading is almost an inhuman task? Gil explains the psychology behind it (12.15 mins) and how we are all trained to be winners in life.At (16.25mins) we talk on the hardest challenges for traders who work from home and don’t have the advantage of a professional trading environment. Traders have to be prepared to not know the outcome of their trades every day and that darn thing called the human ego gets in the way.Gil then describes some key attributes of successful traders (17.45 mins).You will love this part.Gil says good traders are egoless, they have a ZEN personality, they have self-awareness, they are sensitive to the waves of the market they are riding, they are effective listeners of the market, and they approach the market with calmness and patience.To find out more about Gil and The5ers trading and growth program go to: www.the5ers.com.  Gil offers a program for traders who feel mature and ready to trade as professionals and for a fund. Chris Tate - South Sea BubbleWith Corona Virus on the war path, Chris Tate takes a look at the history of mania and busts and the South Sea Bubble.     Louise Bedford - Unsung HeroOur unsung hero today is Angus Mitchell.Angus has had an amazing career as medico but he has never relied on the halo effect in his trading, consequently, he has developed an effective side hustle and a spring in his step.   Louise Bedford is a best-selling author of six sharemarket books, host of the Talking Trading podcast, and founder of TradingGame.com.au, one of Australia’s leading trading education communities.For over 30 years she has helped traders master trading the Australian sharemarket, technical analysis, and trading psychology so they can build long-term financial independence.www.tradinggame.com.au www.talkingtrading.com.au.FacebookYouTube TwitterLinkedIn

Coronavirus has spread irrationality through the market. Hear Chris Tate’s wealth of experience on what to do in these mania type situations.Chris TateThe Coronavirus has spread into the markets and sent indexes plummeting.But Chris says ‘Lunacy at the end of mania is a common occurrence.’ (5 mins)These events are only an issue if you don’t have a trading plan. (8.30 mins)Hear Chris’ wealth of experience at a time like this and what you should do to preserve your capital (11.55 mins) as well as the myriad of trading opportunities.Chris looks at indices, oil and commodities and how not to play a fool’s game. Louise Bedford - Unsung HeroHear how Adam Talbot has bought himself a one-way ticket out of Australia.Because of his sterling results after completing our Trading Game Mentor Program, he's gained freedom, travel, and financial serenity.To register for Priority Notification about when we're running the next Trading Game Mentor Program, click here.    Louise Bedford is a best-selling author of six sharemarket books, host of the Talking Trading podcast, and founder of TradingGame.com.au, one of Australia’s leading trading education communities.For over 30 years she has helped traders master trading the Australian sharemarket, technical analysis, and trading psychology so they can build long-term financial independence.www.tradinggame.com.au www.talkingtrading.com.au.FacebookYouTube TwitterLinkedIn

Savour Steven’s stories from 25 years experience on trading floors which highlight what you need to become a top-performing trader.Louise Bedford MindpowerMake sure the instrument you buy is marriage material.We are looking to make sure everything we want is represented before we place money in it.Do you have a checklist?  Do you have an archetype? Steven GoldsteinWe talk on many topics in the second part of Steven’s interview starting with why most traders fail to change (4.05 mins).As Daniel Kahneman 2002 Nobel Prize Winner in Economics said ‘We are blind to our blindness’.We look at the power of keeping a trading journal, and if this doesn’t inspire you to keep one I don’t know what will.Then we talk on PERFORMANCE GAPS (7.40mins), which are not market analysis but human behaviour based.We touch on the importance of mentoring and a coach (11.05 mins) and your Tradar, invisible receptors on your head and how the market talks to people. (15 mins)Hear about the Citibank dinner in Munich (17.28 mins) and finally hear some qualities of successful traders.Be lulled into the world of the markets with Steven’s fantastic industry stories.To find out more about Steven go to: www.alpharcubed.com or listen to the AlphaMind Podcast.You can contact him through:LinkedIn:  Steven GoldsteinTwitter: @AlphaMind101Email: info@alpharcubed.com If your trading feels like running on a treadmill — sweating, pushing, but going nowhere — it’s because you’re missing the right system. Louise says: "I’m offering free 30-minute calls to rip the brakes off your trading. Spots are limited. Fill out the survey at survey.tradinggame.com.au." Louise Bedford is a best-selling author of six sharemarket books, host of the Talking Trading podcast, and founder of TradingGame.com.au, one of Australia’s leading trading education communities.For over 30 years she has helped traders master trading the Australian sharemarket, technical analysis, and trading psychology so they can build long-term financial independence.www.tradinggame.com.au www.talkingtrading.com.au.FacebookYouTube TwitterLinkedIn

Get yourself in top trading shape for 2020 and listen to Steven Goldstein’s 25 years of experience as a trader at Credit Suisse, Commerze Bank and American Express. His trading lessons are fantastic. Louise Bedford in her Mindpower segment reframes losses so they are not failures. Louise Bedford– MindpowerBefore you start trading, do you think how hard can it be?But then you get some losses and they gather in momentum and they feel like failures?Even professional traders fail a lot. Reframe those trading losses so that if you have followed your written trading plan you are one step closer to that big trading win. Steven GoldsteinSteven learned trading by being thrown in the deep end. He went on to gather 25 years experience on the banking floor.Steven talks (at 8:10 mins) on the huge amount of effort it takes for a trader to develop. Just like learning to box or play the guitar, trading takes a high level of skill and personal development to be consistently profitable.After all, if trading were easy everyone would be doing it.Steven then shares how long it took him to become a really good trader in his career (12:00 mins) and the enormous value of a community of traders to create a support network (15:35 mins).We talk on risk management (at 18:25 mins) and then we talk on losses (21:45 mins) and how even during Steven's best trading periods he still had times where his confidence was undermined. After all, we are humans, not robots. To find out more about Steven go to: www.alpharcubed.com or listen to the AlphaMind Podcast.You can contact him through:LinkedIn:  Steven GoldsteinTwitter: @AlphaMind101Email: info@alpharcubed.com If your trading feels like running on a treadmill — sweating, pushing, but going nowhere — it’s because you’re missing the right system. Louise says: "I’m offering free 30-minute calls to rip the brakes off your trading. Spots are limited. Fill out the survey at survey.tradinggame.com.au." Louise Bedford is a best-selling author of six sharemarket books, host of the Talking Trading podcast, and founder of TradingGame.com.au, one of Australia’s leading trading education communities.For over 30 years she has helped traders master trading the Australian sharemarket, technical analysis, and trading psychology so they can build long-term financial independence.www.tradinggame.com.au www.talkingtrading.com.au.FacebookYouTube TwitterLinkedIn

Take your financial journey to the next level with Matt Morrison, Chris Tate and Louise Bedford.Louise Bedford– MindpowerDo you feel you deserve a pay rise and that your boss should be increasing those bucks for your time?You need to ask in the right way, here are specific instructions: Be exact with the amount you are asking Add 20% onto the amount you originally thought Ladies make sure you use cooperative language and that you also know you are worthy of a rise.The more you can earn outside of trading is the more you can put aside for your trading equity.Chris Tate - A Little TradingHear Chris’s simple and blunt answer on why liquidity in the markets is important.Here is a snapshot: “If no one else wants it why do you?”   Matt MorrisonAs Jim Rohn said ‘Formal education will make you a living, self-education will make you a fortune.’Financial advisor Matt Morrison from The Practice has put his heart and soul and 1200 hours into writing a new book called Freedom Lifestyle and Legacy.It is a step by step framework for financial success without the need to rely on financial advisors. It was Matt’s goal to take the ‘opaqueness’ out of the industry so that people have clear and accurate information to make better-informed decisions about their money.Matt talks about the key financial mistakes he sees people make and solutions for them.As Charlie Tremendous Jones once said ‘You will be the same person you are in five years except for the people you meet and the books you read.’To buy Matt’s book Freedom Lifestyle and Legacy go to: https://www.matthewmorrison.com.au/ If your trading feels like running on a treadmill — sweating, pushing, but going nowhere — it’s because you’re missing the right system. Louise says: "I’m offering free 30-minute calls to rip the brakes off your trading. Spots are limited. Fill out the survey at survey.tradinggame.com.au." Louise Bedford is a best-selling author of six sharemarket books, host of the Talking Trading podcast, and founder of TradingGame.com.au, one of Australia’s leading trading education communities.For over 30 years she has helped traders master trading the Australian sharemarket, technical analysis, and trading psychology so they can build long-term financial independence.www.tradinggame.com.au www.talkingtrading.com.au.FacebookYouTube TwitterLinkedIn

This episode is power-packed with information to take your trading to the next level.Louise BedfordBeing a trader can be solitary and feeling connected to other people can be a challenge.Did you know that loneliness is as lethal as smoking 15 cigarettes per day but how do you get a system in place to evaluate if a person is genuine?Hear about the giver – matcher – taker philosophy and what we do on Talking Trading when we get guests lined up to ensure we have productive, long term relationships.As traders we don't only want exceptional profits we want our best relationships too. Jason McIntoshHope and trading don’t mix.Strategies that work in everyday life do not always work in trading and HOPE can positively ruin a trader’s portfolio.Jason talks on the imperatives of trading rules, the power of back-testing and the place where algorithms shine.Get Jason’s 4-part free video series called ‘The Trader’s Workshop’ by going to www.motiontrader.com.au/talkingtrading. Chris TateLet some of Chris Tate’s 30 years of market experience and knowledge rub off onto you in this segment as he replies to Seth Godin’s Akimbo podcast.Hear the real definition of an algorithmic trader, Chris’ opinion on fund managers and the true definition of a zero game.  If your trading feels like running on a treadmill — sweating, pushing, but going nowhere — it’s because you’re missing the right system. Louise says: "I’m offering free 30-minute calls to rip the brakes off your trading. Spots are limited. Fill out the survey at survey.tradinggame.com.au." Louise Bedford is a best-selling author of six sharemarket books, host of the Talking Trading podcast, and founder of TradingGame.com.au, one of Australia’s leading trading education communities.For over 30 years she has helped traders master trading the Australian sharemarket, technical analysis, and trading psychology so they can build long-term financial independence.www.tradinggame.com.au www.talkingtrading.com.au.FacebookYouTube TwitterLinkedIn