How To Trade It: Trader Insight from Profitable Traders

Risk Management Trading Strategy with Robb Reinhold

Dec 14, 2023

Robb Reinhold, a seasoned trader with a fascinating journey, shares insights into the critical nature of risk management in trading. He discusses the psychological aspects of trading, emphasizing self-awareness and rational decision-making under pressure. Robb highlights the significance of exit strategies and promotes his YouTube channel, the Flat Earth Trading Society. Additionally, he sheds light on how Maverick Trading supports aspiring traders. Mastering risk management, he notes, typically takes about five to seven years of dedicated experience.

38:48

Episode guests

Robb Reinhold

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Highlights

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Effective risk management relies heavily on self-awareness and the ability to maintain rational decision-making under pressure during trading.

Exit strategies hold equal importance to entry strategies in trading, necessitating a structured approach to successfully navigate market fluctuations.

Deep dives

The Journey into Trading

The speaker shares an early experience that sparked their interest in trading during sixth grade. Influenced by a teacher's practical lessons on banking and stocks, the speaker became fascinated with financial markets and practiced simulated trading using fake money. At 18, after receiving a substantial settlement check from an accident, they made a high-risk decision to invest the majority into stocks, ultimately growing that investment significantly. This initial experience set the foundation for a lifelong commitment to trading and investment, leading them to join Maverick Trading, where they continued to develop their skills.

Navigating Trading Decisions and Emotional Management

03:48

The Psychological Challenges of Risk Management in Trading

01:36

Intro

3min

The Journey of a Trader: From Novice to Maverick

14min

Navigating Trading Decisions and Emotional Management

4min

The Psychology of Trading Success

11min

Mastering Exits in Trading

4min

Exploring Trading Education and Profit Structures

3min

In this conversation, Robb Reinhold discusses the importance of risk management in trading and shares his personal journey in the trading world. He emphasizes the need for self-awareness and training the brain to make rational decisions in high-pressure situations. Robb also introduces his YouTube channel, the Flat Earth Trading Society, where he explores the significance of exit strategies in trading. Additionally, he provides information about Maverick Trading and Maverick Currencies, prop trading firms that back traders with capital.

Takeaways

Risk management is crucial in trading and involves making correct decisions based on a trading plan, especially when faced with adversity.
Training the brain and developing self-awareness are essential for successful risk management.
It takes time and experience, typically around five to seven years, to master risk management in trading.
Exit strategies are just as important as entry strategies in trading, and the Flat Earth Trading Society YouTube channel explores the significance of exit strategies.
Maverick Trading and Maverick Currencies are prop trading firms that provide traders with capital and support.

youtube:
https://www.youtube.com/@FlatEarthTradingSociety
https://mavericktrading.com/

Chapters

00:00 Introduction and Background
03:23 The Importance of Risk Management
07:09 The Difficulty of Implementing Risk Management
10:03 Developing Self-Awareness and Training the Brain
13:15 The Time it Takes to Master Risk Management
20:44 The Relationship Between Risk Management and Strategy
25:34 The Flat Earth Trading Society YouTube Channel
32:21 Future Plans for the YouTube Channel
34:03 Maverick Trading and Maverick Currencies
36:14 Conclusion

Grab your copy of the Complete Trading System This book teaches you how to build a trading system from the ground up and how to become profitable in the markets.

Support the show

Connect with Casey:

Website: https://caseystubbs.com
YouTube: https://www.youtube.com/TradingStrategyGuides
YouTube: https://www.youtube.com/caseystubbs
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LinkedIn: https://www.linkedin.com/in/caseystubbs
Twitter: https://twitter.com/caseystubbs
TradingStrategyGuides.com: https://www.tradingstrategyguides.com/
Global Prop Trader: https://globalproptrader.com/
Email: podcast@tradingstrategyguides.com

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