REWIND: Blowing Up a Trading Account with Trading Psychologist Dr. Kenneth Reid
In this Limit Up Rewind, Dr. Kenneth Reid, trading psychologist, shares how his experience blowing up a trading account led him to investigate the psychology behind his trading and then to developing a deliberate trading practice that focuses on the process, not the outcome.
- [02:48] - Dr. Kenneth Reid background
- [05:59] - Finding the psychology connection
- [07:37] - What's your trading style?
- [09:25] - Why trading on a simulator is crucial
- [11:35] - Traders need a method that they can explain in 5 seconds
- [13:52] - Approaching sim trading to make it as real an experience as possible
- [15:16] - How to view sim trading as an experiment without getting frustrated
- [16:06] - How long should someone be in a simulator?
- [18:31] - Getting off on the right foot with a real money account
- [19:56] - Keys to smart sim trading - Principle #1
- [21:40] - Keys to smart sim trading - Principle #2
- [22:19] - Keys to smart sim trading - Principle #3
- [24:08] - Keys to smart sim trading - Principle #4
- [30:02] - Keys to smart sim trading - Principle #5
- [31:48] - Keys to smart sim trading – RECAP
- [34:45] - What's the scariest trade you've ever made?
- [37.05] - What piece of advice would you give yourself if you could go back in time?
- [39:11] - Where can people find you online?
Episode produced by Dante32.