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287 · Robb Reinhold - Consistency Beats Intelligence Every Time
Sep 12, 2024
Robb Reinhold, Head Trader at Maverick Trading, shares groundbreaking insights from his year-long Flat Earth Trading Society experiment. He emphasizes that consistent position management is more vital than the perfect stock entry. Robb discusses the psychology behind trading decisions, including the Dunning-Kruger effect and the dangers of over-researching. He highlights the necessity of disciplined exits and how aligning strategies with personal traits can lead to greater success. Get ready to rethink your trading approach!
01:10:03
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Quick takeaways
- Acknowledging personal flaws and building accommodating systems empowers traders to improve performance despite repeated mistakes.
- The Flat Earth Trading Society experiment proves that consistent position management is more vital than stock selection for profitability.
Deep dives
Understanding Personal Flaws in Trading
Acknowledging personal flaws is vital for successful trading, as many traders often struggle with repeated mistakes. Instead of relying solely on discipline, traders should recognize their inherent weaknesses and build systems to accommodate these traits. This realization can lead to a liberating shift in mindset, allowing traders to trade effectively despite their flaws. By focusing on creating a system that works for their specific tendencies, traders can improve their performance and reduce self-criticism.
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