Day Trader Friend: Peter, Ep. 3
In this two-part episode of the Market Mamas Trader Psychology Podcast, host Becky and her good friend and fellow trader Peter delve deeper into their experiences as futures day traders, focusing on how they have been navigating market volatility, managing risk, and developing personal trading strategies. They emphasize the importance of adapting to changing market conditions and the value of learning from each other within their trading community. As you know, Becky and Peter both study under their mentor Jermaine and have learned many similar and highly effective trading techniques and tendencies. This discussion highlights the psychological aspects of trading that both traders are growing through but in slightly different ways, as well as the significance of risk management and the necessity of having a clear trading plan before every trading session.
In this conversation, Becky and Peter both emphasize the importance of emotional control, understanding market context, and maintaining a simple yet effective trading strategy. Mid-conversation, both traders outline specific setups they look for on a daily basis for their trading, including the break and retest strategy and mean reversion. They discuss the significance of patience and risk management in trading, likening the journey to a marathon rather than a sprint. Not every day will be a homerun in trading and that is ok! Small losses mixed in with all manner of green days is a recipe for profitability! The duo also highlights the value of community support and the abundance mindset, encouraging traders to respect their process and take their time in mastering the craft. Process over all else is such a powerful approach to trading, and can be quite peaceful once you dial it in!
Becky and Peter get a little deeper into their journeys on this multifaceted, authentic and educational podcast episode, as is hard to replicate outside of a strong supportive friendship. Get to know both traders more thoroughly and see what from their tips might resonate with you and your experience as a trader. When we study trading with people we trust, it just seems to create a safer place to be open to learn. And it is from that energy that we are creating these conversations to share!
In the second half of this conversation in the link below, Peter and Becky share a few of their favorite bits of wisdom from traders and investors many years their senior, such as Warren Buffett and his partner Charlie Munger. While these names are not day traders but investors, their understanding of the stock market and the skills it takes to win in this world are powerful and we have much we can learn from them! Who is your favorite leader in the financial world? Send me a comment, I’d love to hear yours after you watch this episode and we tell you ours! To get us started, here is a classic:
Talking trading with people who truly understand and love the journey as well is really a privilege. Join the conversation with us!! Please watch the full episodes and leave a comment on the episode directly or here: https://www.market-mamas.com/contact on anything you’d like to hear more about and Peter and Becky will do their best to cover it all!
Our Day Trading Community at a get together in October of 2024. So much love and gratitude for this trading family we are growing with!