10 May Futures Radio Show Ep 103: Trading Mindset for 2017
Trading a plan, accepting randomness, and managing risk
Morad Askar AKA “FuturesTrader71” sits down with Anthony Crudele of Futures Radio Show as they discuss the outlook for 2017. Topics include Morad’s personal trading journey, setting baseline goals, identifying weaknesses, and measuring performance. Also, a trade plan should be seen as a living document – constantly updated and revised. In addition, Crudele points out that this business is constantly evolving, and that traders must be able to adapt and evolve with it. Morad further explains focusing on probabilities/statistics and the importance of finding a community of like-minded traders. Following is a discussion on “randomness” and trading the unknown in the market, including an example of the coin-toss experiment regarding 50/50 outcomes. Crudele’s ‘Rapid Fire’ segment peers into the evolution of FT’s own trading, making the turn, meditation, and accepting that you are ever-changing. In conclusion, Morad reminds traders to “aim small, miss small.”
Recommended Books from this Podcast:
The Psychology of Risk
-Ari Kiev
The Chimp Paradox
-Dr. Steve Peters
Thinking Fast and Slow
-Daniel Kahneman
Mindset
-Carol S. Dweck
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