You’re not going to believe the email Louise Bedford received about one of her podcast interviews. Holy cow! She’s still a bit hot under the collar about it all. You’ll have to listen to this episode of Talking Trading to hear what happened.
The markets are going nuts, but it doesn’t mean that you have to. In this jam-packed interview, you’ll hear Louise put Mark Stowers, a day-trader, on the spot.
A former corporate accountant turned trader, risks it all to make a lifestyle change, but discovers the market has other plans. In this episode, you will learn:
1. How do you split up trading strategies between partners?
2. How do you risk control when trading?
3. How do you manage your own trading education?
Mark Stowers knows what it takes to experience pressure in the markets. He has worked out specific ways to down-regulate the crazy emotions that can stop us from trading a perfectly good trading plan. Listen and you’ll learn strategies to help you keep your cool when the markets are misbehaving.
About Mark Stowers
Mark Stowers is a former corporate accountant and consultant who has been trading for the past 17 years. He is the co-founder of SafeDay Trading, a company that provides training and education for day traders.
This is Mark Stowers’s story…
Mark discusses his experiences trading commodities and options. He’ll tell you how he split up trades between the three partners, how to risk control, and how to manage their money.
About Louise Bedford
Louise Bedford is the founder of www.tradinggame.com.au. She is a best-selling author of five books on the stockmarket and a behavioural finance expert with degrees in Psychology and Business.
Other episodes you’ll enjoy:
- Louise received an angry email from a man saying that she should stay in her lane. Louise will talk about the differences and similarities between the way traders approach the market.
- Mark has three bachelor’s degrees sociology, history and accounting. He worked as a corporate accountant for 25 years. He started a home care business with 150 employees and almost 500 customers. After 14 years, he decided to leave and started Safe Day Trading with his partners.
- Mark has a business where he and his partners trade the same things. They have a trading class in which they talk about the trades between the three of them, Mark was an accountant. He is conservative and believes in money management. He has been on vacation in Costa Rica, India, on cruise ships, trading.
- The market opens at 07:00 Central Standard Time. And the market opens up at 08:00 Eastern Standard Time. He gets up at 530. He drinks 32oz of water in his first half hour of life. In the morning, dehydration is part of it. His mental focus is on dehydration and how he sleeps. If he has a bad night’s sleep, he may not trade.
- In South Australia, a client has a content scale where one end is euphoric and the other end is sad and horrible. Can get you back to that middle equilibrium to be content so you can be focused?
- As a trader, you are going to lose money. Mark has seen people lose $30000 in half an hour. Chris, Tate and Mark are very stop-oriented. They don’t put a position into the markets unless they can put a stop on. Chris and Mark have to be flexible in their trading.
- The most important thing is money management. Mark has invested in his own trading education. He doesn’t listen to or watch the news because he has a more medium-term view.
- Wimhoff is a breathing technique that helps relieve stress in the body. Mark uses it to help him focus on his trading. He also uses calm app to calm down at night when he’s having trouble sleeping. Mark advises others to investigate the method.
- Mark is looking for techniques that would give him a leg up on trading. Wimhoff was one of them. Mark uses a method called Portfolio heat to control his risk when he’s out of sync with the market. The key is to be able to identify the direction of the trade. If you have a duplicatable system that you can use again and again, that’s what everybody is aiming for.
- Mark is a big napper and takes naps in the middle of the day. He has a routine that works for him. He follows the same routine for his meals and he has the same clothes for lunch and breakfast. Traders that have done the best in the markets are the ones who have built-in structures around their day, around their week, and around their month. They rely on things like Google Calendar to tell them where they are in the month and what they have to do.
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