Episode 8 – The hero’s journey, the lesson of fat tails, what to do if you’re a struggling trader [email protected]

Summary

In this episode I interview Adam Grimes.
Adam is a fellow podcaster, seasoned trader, systems developer, author of The Art and Science of Technical Analysis, and the CIO of Waverly Advisor.
That’s a mouthful but beyond all that what I respect most about Adam is the amount of work he contributes to the trading community.

In this interview with Adam the conversation goes deep and wide!

But here are some of the big ideas –

Big Ideas

  1. Why it’s not enough to learn how to trade, it’s learning about how to become a trader
  2. Adam shares some realistic expectations for new traders
  3. Why it’s important to understand the distinction that you’re not trading the market, you’re trading against other traders 
  4. The importance of carry the right trading mindset – you can actually address some psychological issues by addressing some methodological issues but on the other hand you can have a system with an edge but without the right psychological disposition you will not able to implement it
  5. How even purely quantitative traders are not exempt from trading psychology
  6. Adam shares his views on the positives and negatives effects of meditation and what it can do for traders
  7. Adam shares his own meditation practice and a gives us a great practice to improve focus (pay attention intraday traders)
  8. The importance of living through various market cycles
  9. What are we really seeing when we look at a chart.  

 

Quotables

When a trader looks at a chart and he sees the market move and has an emotional reaction, that’s not a defect in the trader that actually says something very profound about what the market is, about what that trader is, and about what that trader’s relationship is with the market.

Transcript

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Resources Mentioned

 

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Episode 8 – The hero’s journey, the lesson of fat tails, what to do if you’re a struggling trader [email protected]

by editor time to read: 52 min
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