Alexander Moreno spent a considerable amount of time writing books and analyzing markets, and regularly consulted experienced trading mentors. After honing his abilities through months of paper trading, he ventured into live trading and made steady profits as planned. This success boosted his confidence to trade full time for a living. However, an unexpected market turmoil in 2008 unleashed his psychological struggles, leading to impulsive trading and ultimately homelessness. This harrowing experience gave Alexander invaluable insights, which he now passes on to others.
This may be one of the most important episodes to hear for a while when it comes to the topic of candid discussion of the practicalities of loss and risk management in trading. and improve.
Disclaimer
Trading in financial markets involves the risk of loss. Podcast episodes and other content produced by Chat With Traders are for informational or educational purposes only and do not constitute trading or investment recommendations or advice.
Topic and Timestamp:
Note: Exact time depends on current ad.
- 0:00 background
- 4:10 Ready to trade
- 5:40 Trader types and strategies
- 9:27 Trading as main source of income
- 11:30 Calculate the rate of return required for living expenses
- 12:52 How small early losses lead to homelessness
- 16:35 Add risks without being reckless
- 17:50 Impact of revenge trading?
- 24:55 The need for income has created pressure to make poor deals
- 28:10 When Alexander hit rock bottom
- 31:50 The redo process
- 33:45 “Your current mindset was not built for stock trading”
- 36:35 The best way to train your emotions
- 42:25 Reasons for block trading
- 46:30 Stay alive long enough to learn the process
- 48:15 What is a flow state and how to get there
- 51:30 How to avoid overtrading
- 53:15 Differences between professional and novice traders
- 55:06 What Alexander struggles with the most in trading
- 59:10 Alexander’s focus on trade and helping people
- 63:00 How to contact Alexander
Alexander Moreno