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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.
37:30
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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.
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