This week we talk with Robert Van Eyden, author of Badass Trader. Robert discusses the challenges and mindsets of traders in the market, the evolution of technical analysis, the importance of risk management and adaptability, the significance of trading approach and mindset, the danger of information overload, the impact of a terrible trade, and the importance of keeping trading simple.
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question_answer ANECDOTE
Early Trading Journey Disappointments
Robert Van Eyden began trading young and was disappointed by early technical analysis books because they lacked secret formulas.
His early journey included exploring neural networks, which failed post-2008 due to markets being open and random systems.
volunteer_activism ADVICE
Beware Trading Course Pitfalls
Avoid costly trading courses and signal generators that ignore personality and risk preferences.
Focus on managing the mind and risk as these are the hard but essential parts of trading success.
insights INSIGHT
Markets Are Open Systems
Markets are open, random systems without fixed codes or formulas to crack.
Traders must evolve systems continuously since no system works permanently due to systemic openness and unpredictability.
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Robert is a true veteran of the markets with over three decades of invaluable experience in the dynamic world of markets, predominantly in his home country, South Africa.
Robert's remarkable journey has seen him excel as an analyst, trader, investor, lecturer, and wealth manager. Currently he serves as the CEO of IG Markets South Africa.
The central premise of "Badass Trader" revolves around the tantalizing notion that as barriers to entry for traders have diminished, the doors have been opened to a realm of untapped potential and virtually boundless earning capabilities for people keen to develop their own trading practice.
However, there is a twist, and that is that though it appears deceptively easy is, it is in truth, a hazardous journey fraught with challenges and dangers which very few are able to successfully navigate.
That is why Robert says, ‘trading is the hardest way to make easy money’.
Within the pages of "Badass Trader," Robert delves deep into the crux of the matter, dissecting the hurdles that obstruct the path to success. Drawing from his wealth of experience, he generously imparts the mindsets, mantras, and principles that can safeguard traders from the snares laid out by the unpredictable markets.
Tune in now to hear Robert talk about his own painful experiences in markets and what he learned from them, that inspired him to write ‘Badass Trader’.
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