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The AlphaMind Podcast

#2 Mental 'Edge' in Trading, with Mark Randall and Steven Goldstein

Jun 13, 2019
51:04
Snipd AI
Experts Mark Randall and Steven Goldstein discuss 'Mental Edge' in trading, covering risk intelligence, positive expectancy, poker, 'edge' in decision-making, self-refreshing, 'Trading Turtles', physical performance, caffeine effects, alcohol impact, military mindfulness, battling self and ego. Insights to elevate trading psychology and enhance performance.
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Podcast summary created with Snipd AI

Quick takeaways

  • Developing a mindset for trading involves creating a positive expectancy and leveraging natural advantages for decision-making processes.
  • Success in trading requires honing skills through disciplines like poker, emphasizing risk assessment, decision-making, and self-control.

Deep dives

Exploring the Concept of Edge in Trading and Investment

Edge in trading is characterized by developing a mindset that enhances performance, situational awareness, and self-management. It involves having a natural advantage that creates a positive expectancy in decision-making processes. A notable example from the podcast is the approach used by a skilled gambler who tests opponents in backgammon before committing to a game. This strategy demonstrates how identifying and leveraging one's edge is crucial for success in trading and investment.

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