002: Brent Penfold discusses trading principles, money management, risk of ruin and how to overcome greed, hope and fear in trading

002: Brent Penfold discusses trading principles, money management, risk of ruin and how to overcome greed, hope and fear in trading

In this episode with Brent Penfold we cover fundamental topics that impacts traders of all levels, from beginner to advanced. We talk about some of the psychological issues traders face, the principles all traders need to accept to be successful, that elusive Holy Grail of trading and an extremely important mathematical concept that can identify if you're going to blow up your account, so don't miss that. The guest also provides actionable tips and tricks to overcome these issues along with a simple method to determine if a strategy is broken, which could save you lots of money and stress. Topics discussed:

  • How to trades 24 markets actively and be finished by 9:30am
  • The simple reason why most traders fail
  • The principles all traders need to accept to be successful
  • The one mathematical measure that can tell if you'll blow up your account - don't miss this!
  • The Holy Grail
  • The most important aspect of trading
  • How to remove hope from your trading
  • How to combat greed
  • The impact fear can have on your trading and a hot tip to overcome it
  • A simple method to determine if your strategy is broken, this tip could save you loads of money!

Disclaimer:
Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.

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Jaksot(242)

241: Trading Market Phases - with Mish Schneider

241: Trading Market Phases - with Mish Schneider

There are lots of varying opinions about the markets right now.  And massive uncertainty about where it's heading next. In this episode, I'm joined by Mish Schneider from MarketGauge, to discuss Marke...

9 Elo 202443min

240: "Uncovering hidden market reaction zones" - with Fabio Ruggeri

240: "Uncovering hidden market reaction zones" - with Fabio Ruggeri

Price charts are no longer enough… The world of trading is changing and Alpha needs to be found in other ways. So what should traders do? In this chat with Fabio Ruggeri from MenthorQ, we discus...

11 Heinä 202445min

239: Confident Consistent Trading - Laurens Bensdorp

239: Confident Consistent Trading - Laurens Bensdorp

Explore the world of algorithmic trading with Laurens Bensdorp as he delves into his extensive experience managing a diverse portfolio of trading systems. From foundational concepts to advanced strate...

27 Kesä 202458min

238: The new indicator that improves momentum trading signals - Alex Spiroglou

238: The new indicator that improves momentum trading signals - Alex Spiroglou

A Bloomberg study discovered MACD is the second most popular indicator after the RSI. But the MACD has BIG problems. And in this episode, Alex Spiroglou shares the solution. Here's what you'll dis...

13 Kesä 202456min

237: New Volatility Based Trading Techniques with Rob Hanna

237: New Volatility Based Trading Techniques with Rob Hanna

The Volatility Index (VIX) is used by traders to determine when the stock market (S&P) is getting "too risky", so they can protect their trading accounts from losses. Could traders be using the VIX wr...

30 Touko 202459min

236: How to Profit and Protect in Any Market Conditions - with Tom Basso

236: How to Profit and Protect in Any Market Conditions - with Tom Basso

Tom Basso is a Market Wizard with 5 decades of experience. After taking 4 years to get to break-even, he eventually transformed himself into a $600 million fund manager. In this discussion with Tom, w...

23 Touko 202458min

235: How traders can compete in the markets and find profitable edges - Jason Strimpel

235: How traders can compete in the markets and find profitable edges - Jason Strimpel

In this episode, Jason Strimpel from PyQuantNews joins me to discuss how traders can find profitable edges and compete effectively in today's fast-paced markets. Whether you're a seasoned trader or ju...

9 Touko 20241h 1min

234: The Trading Panel – Episode 11

234: The Trading Panel – Episode 11

Welcome to a new trading series called "The Trading Panel," where I collaborate with Jason Perz from Against All Odds Research and a panel of traders to discuss the markets and all things trading. Par...

25 Huhti 202449min

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