The AlphaMind Podcast #96 Tom Hougaard: Best Loser Wins
Redundancy and Trading Psychology
- Tom Hougaard was made redundant from City Index on the day the market bottomed out in 2009.
- He then struggled to replicate his prior trading success, highlighting the psychological impact of a steady paycheck.
Mental Preparation
- Visualize and meditate on trading goals.
- Prioritize mental preparation over technical analysis.
Will to Act
- Traders often accumulate knowledge but fail to execute due to a lack of will.
- Patience and the will to act are key to seizing opportunities.
Tom Hougaard is a ‘high-stakes’ day trader, and author of a superb new book ‘Best Loser Wins: Why Normal Thinking Never Wins the Trading Game’, which focuses on the mental battle needed to succeed in trading and the challenge of getting your mind right.
Tom is someone who has faced his own battles to become a successful trader, and like many he has gone through that cycle of try, learn, fail, try again and eventually succeed.
Tom is passionate about trading, as you will hear, and also loves helping others to learn. He runs an excellent telegram channel, you can find out more about this on TraderTom.com, which has over 15,000 members.
This is a terrific interview which will educate, fascinate, and challenge you.
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